Maruti Suzuki India said its sales fell 0.7% to 153,539 units in November 2018 over November 2017. The announcement was made on Saturday, 1 December 2018.
Hero MotoCorp said its sales rose 0.82% to 610,252 units in November 2018 over November 2017. The announcement was made on Saturday, 1 December 2018.
Mahindra & Mahindra (M&M) said its auto sales rose 17% to 45,101 units in November 2018 over November 2017. The announcement was made on Saturday, 1 December 2018.
Tata Motors reported a drop in November sales. The sales performance of Tata Motors commercial and passenger vehicles business in the domestic market, for the first time witnessed a drop of 4% at 50,470 units in November 2018 as against 52,464 units in November 2017, due to low consumer sentiments as a result of liquidity crisis in the industry, higher interest rates and rising fuel costs. The company said it will continue to focus on aggressive sales enhancement and provide better service to its customers in these challenging times. The announcement was made on Saturday, 1 December 2018.
Aviation stocks will be watched after state-owned oil marketing companies (OMCs) on Saturday, 1 December 2018, reduced the aviation turbine fuel (ATF), or jet fuel, prices by 10.90% in New Delhi. Accordingly, jet fuel prices have been cut by Rs 8,327.83 in Delhi and now sells at Rs 68,050.97 per kilolitre. Prices vary with airports depending on local taxes. Jet fuel per kilolitre now costs Rs 73,393.55 in Kolkata, Rs 67,979.58 in Mumbai and Rs 69,216.61 in Chennai. The three OMCs revise the jet fuel prices on the first of every month. Lower crude oil prices could benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines' operating costs, are directly linked to international crude oil prices. Jet fuel prices tend to fall with slide in oil prices.
Biocon will be watched. Fulphila, a biosimilar Pegfilgrastim jointly developed by Biocon and Mylan, has been approved in EU. The European Commission has granted marketing authorization for Fulphila to Biocon's partner Mylan. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion recommending approval of Fulphila as a biosimilar to Amgen's Neulasta, which is indicated for the reduction in the duration of neutropenia and the incidence of febrile neutropenia in adult patients treated with cytotoxic chemotherapy for malignancy, in September 2018. Biosimilar Pegfilgrastim treatment can be used to stimulate bone marrow to produce more neutrophils to fight infection in patients undergoing chemotherapy. The announcement was made after market hours on Friday, 30 November 2018.
Monte Carlo Fashions announced that its board approved a buyback of upto 10 lakh equity shares, representing 4.60% equity, at a maximum price of Rs 550 per share. Further, the board has appointed Raj Kapoor Sharma as CFO of the Company with effect from 1 December 2018. The announcement was made after market hours on Friday, 30 November 2018.
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TV Today Network announced that Vivek Khanna vide his letter dated 30 November 2018, has resigned from the position of chief executive officer (CEO) and services of the company to pursue other professional opportunities. However, he would be serving notice period as per his terms of appointment. The announcement was made after market hours on Friday, 30 November 2018.
Sandhar Technologies said it entered into a 50-50 joint venture with South Korea's Kwangsung Corporation. The joint venture is being established for manufacturing and selling interior and exterior parts, plastic moulded parts and accessories for the passenger and utility vehicles segment in a phased manner. The joint venture will introduce light-to-ultra-light, illuminated sliding sun visors and manufacture cargo screens used in SUVs and MUVs and also offer customized black out tapes and anti-chipping tapes solutions for automobile exterior protection and aesthetics. The announcement was made on Saturday, 1 December 2018.
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