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Mid Session

RIL, Hero MotoCorp, Tata Motors, Coal India in focus
(08:41, 04 Jan 2021)

Shares of Reliance Industries (RIL) will be in focus. The Securities and Exchange Board of India (Sebi) has imposed an aggregate penalty of Rs 70 crore on Reliance Industries (RIL), its chairman Mukesh Ambani and two other entities for manipulative trading. The case pertains to sale and purchase of Reliance Petroleum (RPL) shares in the cash and the futures segments in November 2007. This followed RIL's decision in March 2007 to sell 4.1% stake in RPL, a listed subsidiary that was later merged with RIL in 2009.

Hero MotoCorp's total sales rose 5.29% to 4,47,335 units in December 2020 from 424,845 units in December 2019. The company's domestic sales grew by nearly 3.1% to 4,25,033 units in December 2020 from 412,009 sold units in December 2019. Total exports jumped 73.75% to 22,302 units in December 2020 over December 2019.

Tata Motors' total sales have improved by 43.34% as compared to 1,10,379 vehicles sold in Q2 September 2020 (Q2 FY21). Total sales in the domestic and international market stood at 1,58,215 vehicles in Q3 December 2020 (Q3 FY21), up by 22.29% from 129,381 units during Q3 December 2019 (Q3 FY20).

Eicher Motors' total Royal Enfield sales jumped 37% to 68,995 units in December 2020 as against 50,416 units in December 2019. In a separate announcement, VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, announced that its total commercial vehicles (CV) sales fell 3% to 4,892 units in December 2020 from 5,042 units in December 2019.

Coal India said its coal production on provisional basis rose 0.50% to 58.30 million tonnes (MT) in December 2020 from 58 MT in December 2019. Coal offtake in December 2020 stood at 52.6 MT, recording an 2.1% fall from 53.7 MT in December 2019.

BEML said that Government of India has decided to disinvest 26% of the total equity share capital of the company through strategic disinvestment with transfer of management control (Strategic Disinvestment or Transaction).

TVS Motor Company said the company's total sales grew 17.5% year-on-year to 272,084 units in December 2020 as against 231,571 units in December 2019.

Kansai Nerolac Paints on Friday (1 January 2021) announced that it subscribed 1.65 crore equity shares of its subsidiary, Kansai Nerolac Paints (Bangladesh).

NMDC said its iron ore production increased 23.3% to 3.86 million tonnes (MT) in December 2020 from 3.13 MT in December 2019. The company's iron ore sales climbed 19.08% to 3.62 MT in December 2020 from 3.04 MT in December 2019.

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