MARKET NEWS CORNER

  1. Tata Motors JLR’s January sales were down 10.9% at 43,733 units. The company said market weakness in China had affected the sales.stock corner promotional
  2. The Reserve Bank of India levied a penalty of Rs1cr on SBI for non-monitoring of the end use of funds in respect of one of its borrowers.
  3. Raymond clarified that the related party transactions are undertaken in compliance with laws and on an arm’s length basis, which has been certified by independent reputed accounting firms.
  4. Aurobindo Pharma said it was investing Rs15cr for a 19.9% stake in pharma company ‘Synergy Remedy’.
  5. Coffee Day Enterprises approved to sell equity shares held by the company in its arm and promoter ‘Mindtree’. The company said in its disclosure of the actual sale will be reported to the exchanges as and when it is announced.
  6. Ceat said that it commissioned the commercial production of Truck Bus Radial Tyres at the expansion phase of Halol plant in Tamil Nadu with effect from February 7.
  7. Jet Airways said that four aircrafts have been grounded due to non-payment of amounts outstanding to lessors under lease agreements, while three aircrafts which were grounded earlier for engine normalisation are back in commercial operations.
  8. Pricol said that its new plant in Tamil Nadu will not commence its operations due to change in business strategy of the company in line with customer expectations.
  9. Shriram EPC received three orders worth Rs291.6cr from Jharkhand Government for construction in the water management sector.
  10. SPARC received a demand order (inclusive of penalty) worth Rs46cr for payment of Service Tax, from Commissioner of GST and Central Excise (Mumbai).
  11. HCG said it will increase its stake from 50.1% to 100% in its arm BACC Healthcare.

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