Tata Motors, Hero MotoCorp and Cochin Shipyard to see some action today

Tata Motors’ sales in the domestic & international market for April 2022 stood at 72,468 vehicles, compared to 41,729 units during April 2021 registering growth of 81%. Domestic sale of MH&ICV in April 2022, including trucks and buses, stood at 12,069 units, compared to 6,466 units in April 2021. Total sales for MH&ICV Domestic & International Business in April 2022, including trucks and buses, stood at 12,524 units compared to 7,366 units in April 2021.

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, sold 418,622 units in April 2022. The company reported a double-digit growth of 12.4% over the corresponding month of the previous year (April 2021), when the company had sold 372,285 units. The company has sold 3,92,627 motorcycles in April 2022 as against 3,39,329 in April 2021. The scooters sales was down to 25,995 in April 2022 from 32,956 in April 2021. Domestic sales was at 3,98,490 units in April 2022 as compared to 3,42,614 in April 2021. Exports were at 20,132 in April 2022 as against 29,671 in April 2021.

Kick-starting efforts of the country towards green shipping, Cochin Shipyard (CSL) will develop and build the first indigenous hydrogen-fuelled electric vessels. The project will be carried out by the CSL in collaboration with Indian partners and unveiled the government's plan for building hydrogen-fuelled electric vessels keeping pace with the Global Maritime Green Transitions.

Astral’s board has approved to acquire 51% controlling equity stake in Operating Paint Business of Gem Paints. Accordingly, Astral has entered into definitive agreements with Gem Paints and its shareholders. Astral shall initially invest Rs 194 crore in Gem Paints by subscribing to Optionally Convertible Debentures equivalent to value of 51% equity stake of Operating Paint business of Gem Paints. The Operating Paint Business of Gem Paints is proposed to be demerged to a wholly owned subsidiary of Gem Paints viz. Esha Paints. Upon the completion of demerger, Astral will acquire 51% equity shares of Esha Paints against the redemption of OCDs. The name of Esha Paints is proposed to be changed to Gem Paints under the demerger scheme. The balance 49% equity stake will be acquired by Astral over a period of 5 years in tranches as per the Share Purchase Agreement entered between the parties.

Coal India has logged a 27 per cent jump in production this month till April 28 amid skyrocketing demand for the fuel. Coal India produced 49.6 million tonnes of coal till April 28 and was expected to produce around 53 million tonnes in the entire month, which is expected to be the best ever compared to earlier years of the comparable month.

WPIL has received a Letter of Acceptance (LoA) from Madhya Pradesh Jal Nigam Maryadit for execution of a Turnkey Project comprising of engineering, procurement, construction, testing, commissioning, trial run and operation and maintenance of various components of Nimarani 2 Multi-Village Scheme, District Khargone for an amount of Rs 237.64 crore to be completed in 30 months.

HDFC Life Insurance Company has signed up for the UN-supported Principles for Responsible Investment (PRI), epitomising its objective of sustainable growth and long term value creation.  HDFC Life is committed to following the principles of Responsible Investment (RI). The Company believes that as an active asset manager for policyholders, who have entrusted their savings with HDFC Life, it is the Company’s fiduciary responsibility to generate optimal risk adjusted returns over the long term. This objective can be served by following the RI approach which includes core stewardship principles and consideration of environmental, social and governance (ESG) factors in addition to financial parameters and outlook, while making investment decisions. This framework complements HDFC Life’s philosophy of achieving sustainable growth.