Hero MotoCorp, Escorts and Reliance Industries to see some action today

03 May 2021 Evaluate

Hero MotoCorp has sold 372,285 units in the month of April 2021. The sales in April’21 were subdued due to the temporary closure of plant operations and the retail outlets across several key territories in India on account of the impact of the second wave of COVID-19.

Escorts’ Agri Machinery Segment (EAM) has sold 6,979 tractors in April 2021 registering a growth of 889.9 percent as against 705 tractors sold in April 2020. Domestic tractor sales in April 2021 were at 6,386 tractors registering a growth of 941.8 percent against 613 tractors in April 2020. The demand in April last year was drastically impacted by Covid-19 national lockdown; so was it in April 2021 although not to the same extent. This time around supply chain had minimal impact from local restrictions owing to the second wave of Covid-19. This enabled the Company to build some inventory in anticipation of some pent-up demand as the pandemic situation improves. The medium-term macroeconomic factors remain positive on account of record rabi harvest, sustained crop prices, and good prediction of monsoons this year. Inflation continues unabated and remains a worry.

Reliance Industries has now become the country's largest producer of medical grade liquid oxygen from a single location. At its refinery-cum-petrochemical complex in Jamnagar and other facilities, the company now produces over 1,000 MT of medical grade liquid oxygen per day -- or over 11 per cent of India's total production - meeting the needs of nearly every one in 10 patients.

VST Tillers Tractors has sold 2179 units during April 2021 as compared to 1089 units in April 2020, a growth of 100% YoY. The company has sold 1658 power tillers in April 2021 as against 761 in April 2020, registering 2-fold jump YoY. The company has sold 521 tractors during April 2021, as compared to 328 in April 2020, registering a rise of 58.84% YoY.

Bajaj Electricals has bought the remaining stakes of Starlite Lighting (SLL) for a cash consideration of around Rs 60 crore from its promoters. Besides, the company will also subscribe share worth Rs 45 crore from the promoters. It has also entered into a share subscription agreement for buying 45 lakh equity shares of SLL at a price of Rs 10 apiece. Further, SLL has now become a subsidiary of the company.

Bank of India has received approval for raising capital aggregating to Rs 4,800 crore. The fund will raised by issue of fresh equity capital in the form of FPO / QIP and / or Basel III Compliant Additional Tier-1 (AT-1) bonds (domestic and foreign currency) upto an amount of Rs 3,000 crore and by issue of Basel III compliant Tier-2 bonds upto an amount of Rs 1,800 crore.

Mahindra & Mahindra (M&M) has inked a pact with shareholders of Meru Travel Solutions (Meru) to increase its stake to 100 per cent in the ride-hailing service provider. The company will acquire 44.14 per cent shares from private equity investor True North and others for an amount not exceeding Rs 76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farhat Gupta, for an amount not exceeding Rs 21.63 crore.

Bajaj Electricals Share Price

903.00 1.45 (0.16%)
28-Mar-2024 15:31 View Price Chart
Peers
Company Name CMP
Crompt.Greaves Cons. 267.30
Whirlpool Of India 1223.65
Bajaj Electricals 903.00
IFB Industries 1497.40
TTK Prestige 672.80
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