Tata Motors' total sales fell 0.5% to 40,680 units in August 2015 over August 2014. Domestic sales declined 3% to 35,478 units in August 2015 over August 2014. Exports rose 16% to 5,202 units in August 2015 over August 2014. Sales of passenger cars rose 19% to 9,814 units in August 2015 over August 2014. In commercial vehicles segment, M&HCV sales jumped 31% to 12,017 units in August 2015 over August 2014. Sales of light and small commercial vehicles dropped 25% to 12,267 units in August 2015 over August 2014. This monthly sales data pertains to the standalone operations of Tata Motors. The company announced the monthly sales volume data after trading hours yesterday, 1 September 2015.
Hero MotoCorp (HMCL) announced after market hours yesterday, 1 September 2015, that its total sales fell 13.98% to 4.80 lakh units in August 2015 over August 2014.
HMCL said it has lined up a slew of new products leading up to the festive season. The festive season this year will begin almost three weeks late, as compared to last year, and this shift in season is also reflected in the subdued sales in August compared to the same period last year. HMCL said it will commence the new launches with the introduction of two brand new scooters, followed by new bikes. With the upcoming festive season, the company expects sentiments to improve which in turn is likely to revive market demand. The industry expects the second half of the year to be better than the first two quarters.
TVS Motor Company recorded 1% rise in total vehicles sales to 2.27 lakh units in August 2015 over August 2014. Total exports grew by 21% to 42,570 units in August 2015 over August 2014. Two wheeler exports grew 22% to 33,128 units in August 2015 over August 2014. Total two wheeler sales of the company rose 0.71% to 2.16 lakh units August 2015 over August 2014. Domestic two wheeler sales fell 2.38% to 1.83 lakh units in August 2015 over August 2014. Scooters sales grew by 11% to 72,865 units in August 2015 over August 2014. Motorcycles sales grew 6% to 87,044 units in August 2015 over August 2014. Three wheeler sales of the company grew by 11% to 10,872 units in August 2015 over August 2014. The company made the announcement after trading hours yesterday, 1 September 2015.
Coal India announced after market hours yesterday, 1 September 2015, that the company and its subsidiaries on a provisional basis achieved 96% of targeted production at 36.21 million tonnes in August 2015. The company on a provisional basis achieved 100% of targeted offtake at 40.62 million tonnes in August 2015.
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Cipla announced the appointment of Umang Vohra as Global Chief Financial and Strategy Officer and Prabir Jha as Global Chief People Officer effective 1 October 2015. The company made the announcement after trading hours yesterday, 1 September 2015. Until recently Umang was the Head of the North America business for Dr Reddy's. He was instrumental in growing this business by over 60% to cross a $1 billion sales, almost half the revenues of Dr Reddy's, through several business development partnerships, acquisitions as well as growing the oncology health system business. Prabir Jha will join Cipla as the Global Chief People Officer. In addition to providing leadership to the Human Resources function globally for the company, he will lead the Corporate Communications and Administration functions as well.
Bank of Maharashtra said that its board has approved the proposal of raising of equity capital upto Rs 394 crore by way of preferential allotment in favour of Government of India. Further, the board has decided to convene an extraordinary general meeting (EGM) of the shareholders of the bank on 6 October 2015. The relevant date for ascertaining the issue price is determined as 4 September 2015. The company made the announcement after trading hours yesterday, 1 September 2015.
Info Edge (India) will be watched. The Reserve Bank of India (RBI) yesterday, 1 September 2015, notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 50% (revised from earlier limit of 40%) of the paid up capital of Info Edge (India) under the Portfolio Investment Scheme (PIS). The purchases could be made through primary market and stock exchanges.
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