Reliance Industries, Tata Motors and Coal India to see some action today

Reliance Industries’ subsidiary -- Reliance Jio Infocomm (RJIL) has concluded the definitive Agreement entered with Bharti Airtel for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading, which has been taken on record by DOT. RJIL has paid total consideration of Rs 1,183.3 crore (inclusive of taxes) to Bharti Airtel and has assumed deferred payment liability with net present value of Rs 469.3 crore.

Tata Motors plans to drive in new models, expand its sales network as it aims to maintain its double-digit market share in the highly competitive domestic market. The auto major, which sells models including Nexon, Harrier, and Safari, has clawed its way up to over 10 percent market share in the passenger vehicle space in July this year after a span of nine years and now plans to hold on to it with a slew of measures.

Coal India has set a capital expenditure target of Rs 17,000 crore for the 2021-22 fiscal, which is around Rs 4,000 crore more than its spending last year. The miner is expecting an improvement in cash flow with rising demand for coal and higher realisation from e-auction sales.

Central Bank of India is planning to expand its agri-loan portfolio through aqua financing and has identified around 350 branches in coastal areas to cater to such loans in the rural areas. The Bank is segregating how to diversify the Agri portfolio. The bank will use its own financing for this kind of diversification on the agri and agri processing industries, horticulture industries, and aqua-based industry.

Ashok Leyland is planning to expand into African and Southeast Asian markets as part of strengthening its international presence. If the company was able to make some breakthrough, it will also look at select markets in Southeast Asia as part of the international expansion plans. Currently, Nepal, Bangladesh and the Middle East are the traditional markets for the domestic company.

Greaves Cotton’s wholly owned subsidiary -- Ampere Vehicles has signed definitive agreements on August 13, 2021, to make investment in MLR Auto. The acquisition shall be subject to completion of customary closing and other conditions agreed between the parties. The acquisition enables Ampere to expand its last mile mobility product portfolio and offer L5 3W to its retail and B2B customers.

Heritage Foods has launched more additions to its already rich value added products portfolio. The company has introduced Shrikhand and Amrakhand variants in Hyderabad and Mumbai regions, and Malai Paneer in Mumbai. Heritage Kesar Shrikhand is a semi-soft, sweetish-sour, thick, creamy, and delicious Indian dessert loved by all age groups. It is prepared traditionally with high quality and pure kesar. It has zero preservatives, no artificial flavour or any synthetic food colours. The Company has also launched Heritage Amrakhand which is prepared with high quality Mango Pulp.