Maruti Suzuki, Hero MotoCorp and Tube Investments of India to see some action today

Maruti Suzuki India is all set to shortly commence work on its new manufacturing facility in Sonipat, Haryana. It could emerge as the largest production base for Maruti in India. Construction work will begin soon at the unit, which will be commissioned by 2025. The first assembly line at the unit will be commissioned within three years. The Sonipat facility could have a total installed capacity of about a million units.

Hero FinCorp, an associate company of Hero MotoCorp, is planning to raise Rs 2,000 crore equity funding from existing and new investors to create a capital buffer for its business.

Tube Investments of India has signed shares subscription and purchase agreement with Cellestial E-Mobility (Cellestial) and other existing shareholders and also signed shareholders agreement with Cellestial, in connection with the making of a strategic investment, in an all cash transaction of Rs 161 crore to acquire a controlling stake of up to 70% in the share capital of Cellestial, through the purchase of equity shares from the founders & other existing shareholders of Cellestial and by way of subscription to fresh equity shares to be issued by Cellestial.

HDFC Life Insurance Company has launched its Sustainable Equity Fund, currently available with HDFC Life Click 2 Wealth, a unit-linked product. The Company is committed to industry-leading ESG standards that help shape a sustainable future for the communities they serve and create long-term value for all stakeholders.  This Sustainable Equity Fund promotes Environmental, Social, and Governance (ESG) principles and will invest in stocks that form part of benchmark ESG indices or in stocks of companies with high ESG scores. This ESG score is calculated based on internal analysis, public disclosures, and ratings by external agencies.

Hindustan Foods (HFL) has executed a Share Purchase Agreement (SPA) on January 24, 2022 with Reckitt Benckiser (India) to acquire 100% Equity Share Capital of Reckitt Benckiser Scholl India (RBSIPL). The acquisition of the Shares of RBSIPL is in line with the company's strategy to enter Contract Manufacturing and expansion of its business into OTC Healthcare and Wellness products.

IIFL Securities has reported results for third quarter ended December 31, 2021. The company has reported a rise of 68.45% in its net profit at Rs 62.19 crore for the quarter under review as compared to Rs 36.92 crore for the same quarter in the previous year. Total income of the company increased by 57.56% at Rs 285.69 crore for Q3FY22 as compared Rs 181.32 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 70.13% in its net profit at Rs 86.07 crore for the quarter under review as compared to Rs 50.59 crore for the same quarter in the previous year. Total income of the company increased by 71.20% at Rs 367.95 crore for Q3FY22 as compared Rs 214.92 crore for the corresponding quarter previous year.

Vikas Lifecare has entered into negotiation and now in defining stage, for obtaining technology transfer for recycling of Cross linked Poly Ethylene (XLPE) from a Leading European company through Nortech Trinity India (a former subsidiary of Norner AS., Norway). The company has been specifically active in this field of recycling polymer scraps which are conventionally considered impossible to re-cycle and rendered use-less. The company has already come up with various 'Industry First' initiatives in 'Re-Cycling' and 'Up-Cycling' various polymer scrap materials, as ready to use plastic compounds, successfully unlocking the high value hidden in these materials.