Tata Motor's subsidiary Jaguar Land Rover (JLR) reported 16% rise in global sales to 53,772 units in March 2013 over March 2012. Sales rose 17% to 115,504 units for the first quarter of 2013 over first quarter of 2012. JLR said it recorded its best ever monthly and quarterly global sales performance.
Jaguar sales rose 28% to 9,856 units in March 2013 over March 2012, while Land Rover sales rose 14% to 43,916 units in March 2013 over March 2012.
Phil Popham, Group Sales Operations Director for Jaguar Land Rover said: "Jaguar Land Rover has had a record breaking start to the year reflecting the continued interest in our two great brands and our commitment to delivering desirable products that resonate with customers across the globe.
"Jaguar Land Rover is seeing continued year on year growth following the introduction of new models, engines and drivetrains with the Jaguar XF Sportbrake, new Range Rover and Range Rover Evoque amongst our top selling models."
Tata Steel (TSL) after market hours on Wednesday, 10 April 2013 said that the committee of directors of TSL and the board of directors of Tata Metaliks (TML) and Tata Metaliks Kubota Pipes (TMKPL), a 100% subsidiary of TML, have approved the proposal of merger of TML and TMKPL with TSL through a scheme of amalgamation to be sanctioned through court approval process. In terms of the scheme, TML and TMKPL will be amalgamated with TSL, followed by dissolution without winding up of TML and TMKPL.
TSL along with its wholly owned subsidiary hold 50.09% stake in TML and the shares held by them in TML shall get extinguished and the public shareholders of TML shall be issued shares in TSL in the ration of 4 shares in TSL for every 29 shares held in TML.
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Separately, Tata Steel also said after market hours on Wednesday, 10 April 2013 that the committee of directors of Tata Steel (TSL) and the board of directors of Kalimati Investments Company (KICL) at their respective meeting held on 10 April 2013, approved amalgamation of KICL with the company with effect from 1 January 2013.
Mahindra & Mahindra (M&M) after market hours on Wednesday, 10 April 2013 said that there has been a stoppage of work at the company's Igatpuri plant due to tool down strike by the Union. This is post the suspension of two workmen on disciplinary grounds one of them being an union office bearer. The company is in constant dialogue with the union for an early solution of the issue. The company has currently sufficient stock of engines for production of its vehicles, company said in a statement.
Jindal Stainless announced after market hours on Wednesday, 10 April 2013, that it has signed a Memorandum of Understanding (MOU) with POSCO to mutually cooperate with each other for long-term joint business opportunities. The said MOU is applicable for 3 years and can be extended by mutual agreement.
The MOU calls for long term supply of 200 series stainless steel products of the company to POSCO or its subsidiaries. The two companies will also review joint establishment and exploration for nickel smelter process in Indonesia. The two companies will also review joint co-operation in Jindal Stainless' Odisha project. The two companies have also mutually agreed to co-operate on reviewing overseas joint projects including but not limited to the establishment of service centers and cold rolling mills.
PC Jeweller opens its 31st showroom today, 11 April 2013, at Jabalpur (Madhya Pradesh).
India Citland Commercial Credits, Wang Investments and Finance, Bigg Investments and Finance, Vinu Dhingra and Kuldip Singh Dhingra, forming part of the promoter group of Berger Paints India, have announced offer for sale 18.72 lakh equity shares of the company, constituting 0.54% of the equity share capital of the company as on 10 April 2013.
Mahindra Holidays & Resorts India said that IPP Issue Committee of the Board of Directors of the company has by a resolution dated 10 April 2013, approved and adopted the prospectus in respect of the institutional placement of 41.41 lakh shares under at Rs 255 per share, aggregating to Rs 105.59 crore.
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