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Stock Alert

Auto stocks, NTPC, Wipro, Britannia Industries in focus
(08:51, 05 Apr 2021)

Maruti Suzuki India said that Suzuki Motor Gujarat Private Limited (SMG), a 100% subsidiary of Suzuki Motor Corporation for the production of automobiles in India, has completed construction of the Plant C, and started production from April 2021. With production starting at the Plant C, which has an annual production ability of 250,000 units, together with Plant A and Plant B, the total ability of SMG will be 750,000 units. Together with Maruti Suzuki's production ability of 1.5 million units, Suzuki's production ability of automobiles in India will be 2.25 million units. All automobiles that will be produced in SMG will be supplied to Maruti Suzuki.

Hero MotoCorp sold 576,957 units of motorcycles and scooters in March 2021, registering a growth of 72% over the corresponding month in the previous year. The company had sold 334,647 units in March 2020.

Tata Motors has completed the transfer of its Defense business with effect from 1 April 2021 to Tata Advanced Systems Limited (TASL) for an upfront consideration of Rs 227.7 crore (which is subject to closing balance sheet adjustments). The transfer has been completed through a slump sale as per Scheme of Arrangement approved by National Company Law Tribunal at Mumbai and Hyderabad.

TVS Motor Company registered sales of 322,683 units in March 2021 as against 144,739 units in March 2020.

Eicher Motors registered total sales of 66,058 units in March 2021 as against 35,814 units in March 2020.

NTPC informed that based on achievement of approved norms, Unit-2 of 660 MW capacity of Nabinagar Super Thermal Power Project (3 x 660 MW) of Nabinagar Power Generating Co. Limited (a wholly owned subsidiary of NTPC Limited) has successfully completed trial operation and consequently included in the installed capacity of NTPC Group with effect from 31 March 2021.

Wipro has completed the take over of METRO-NOM GMBH and METRO Systems Romania S.R.L. for a purchase consideration of EUR 52.04 million based on the financials at the time of completion of the transaction.

The Board of Directors of Britannia Industries declared Interim Dividend of Rs. 62 per equity share for the Financial Year 2020-21. The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed as April 10.

Adani Enterprises alongwith its Wholly Owned Subsidiary company, Gare Palma II Collieries Private Limited (GPIICPL) has signed Coal Mining Agreement (CMA) with Maharashtra State Power Generation Company Limited (MAHAGENCO) for development and operation of Gare Palma Sector II Coal Mine.

Olectra Greentech and Evey Trans received letter of award for 50 electric buses from one of the state transport authorities under FAME-II scheme of Government of India. These buses will be delivered over a period of 12 months.

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