Ashok Leyland reported a 15% decline in sales at 6,803 units in October 2013 over October 2012. The company's medium and heavy commercial vehicle sales declined 18% to 4,093 units in October 2013 over October 2012. Sales of light commercial vehicles including DOST and STILE fell 11% to 2,710 units in October 2013 over October 2012. The company made the announcement on Monday, 4 November 2013. The stock markets remained closed on Monday, 4 November 2013, on account of Diwali-Balipratipada.
US aluminum fabricator Novelis on Monday, 4 November 2013 said that it is raising prices of its automotive aluminum sheet products in North America, effective for all new orders beginning 1 January 2014. Novelis was acquired by Hindalco in 2007.
Granules India, on Monday, 4 November 2013 announced the signing of a definite agreement for the acquisition of Auctus Pharma, a manufacturer of active pharma ingredients. The acquisition process is expected to be completed in the next 3 to 6 months. The stock markets remained closed on Monday, 4 November 2013, on account of Diwali-Balipratipada.
Auctus has two manufacturing facilities, an API facility at Vishakhapatnam and an intermediates facility at Hyderabad. Auctus' product portfolio includes 12 APIs and intermediates of those APIs in several therapeutic categories such as in the treatment of allergies, hypertension and seizures.
The acquisition of Auctus fits into our strategy of being a fully integrated manufacturer while diversifying our product portfolio by adding high-value products with significant market demand, said Krishna Prasad, managing director of Granules. Auctus provides Granules with a meaningful API platform with a USFDA-approved site to strengthen our finished dosage division.
Coal India announced on Sunday, 3 November 2013 that on provisional basis its actual coal production was 86% of targeted production at 35.03 million tonnes in October 2013. The actual coal offtake was 85% of targeted offtake at 35.51 million tonnes in October 2013.
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Telecom stocks will be in focus on reports that the government is likely to initiate a move that may reduce the amount telecom firms have to pay. The government is reportedly planning to seek the telecom regulator's views about redefining the adjusted gross revenue, on the basis of which the government earns revenue from telecom companies.
Shree Renuka Sugars may also be in focus on reports that Singapore-based agribusiness group Wilmar International has initiated talks to buy a majority stake in the sugar refiner.
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