Hero MotoCorp, DLF and Coal India to see some action today

Reflecting a strong customer preference for most trusted brands, Hero MotoCorp has sold 806,848 units of motorcycles and scooters in October 2020 – its highest-ever sales in any single month. Continuing its growth momentum, the company has reported a robust double-digit growth of 35% over the corresponding month of the previous year (October 2019), when the company had sold 599,248 units.

DLF Cyber City Developers (DCCDL), the joint venture between DLF and Singapore sovereign fund GIC, has started the process of structuring its rent-yielding commercial assets in Real Estate Investment Trust (REIT) form but the timing to launch the public issue will be decided by the promoters. DLF holds 66.67 percent stake while GIC has 33.33 percent stake in the DCCDL, which owns around 33 million sq ft of commercial assets with rental income of over Rs 3,000 crore. 

Coal India (CIL) has produced 46.8 million tonnes (MT) of coal last month, registering a growth of 18.4 per cent. The company had produced 39.5 MT of coal in the corresponding month of the previous fiscal. The increase in absolute terms was 7.4 MT. With its production impeded by the COVID-19-induced slowdown during the first four months of the present fiscal, the company started logging positive growth from August onward on monthly basis.

Welspun Enterprises has received PCOD with effect from October 31, 2020 in respect of project for 4-Laning of Gagalheri-Saharanpur-Yamunanagar (UP/Haryana Border) section of NH-73under Hybrid Annuity Model (HAM) executed for National Highways Authority of India (NHAI). The project completion cost is around Rs 1,354 crore. With this event, the company is entitled to receive annuity payment from NHAI every six months in accordance with the provisions of HAM Concession.

Grasim Industries has entered into a definitive agreement with Lubrizol Advanced Materials to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India with initial production expected in late 2022. This special type of polymer material that is widely used in hot and cold water pipes, will be manufactured at Chlor-alkali unit of Grasim located at Vilayat to take advantage of captive chlorine integration.

Dynamatic Technologies has signed a memorandum of understanding (MoU) with CSIR-Central Scientific Instruments Organisation (CISO) for jointly designing, developing and manufacturing futuristic solutions for the Defence and Aerospace, Healthcare and Agriculture industry. The company’s partnership with CSIO is aligned to government’s vision of AtmaNirbharBharat.

Atul Auto has received an approval to acquire 70% of the equity share capital of Khushbu Auto Finance (KAFL) whereby making it Wholly Owned Subsidiary subject to required regulatory approval. Currently, the company holds 30% of the equity share capital of KAFL. The Board of Directors of the company at its meeting held on October 30, 2020 has approved the same. The acquisition is made with an object to ensure the desired finance support to the retail customers of vehicles of the company. With 100% control over KAFL, it will become a captive finance company.