Market & News

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Advance Petroch.

Advance Petrochemicals announced that the 35th Annual General Meeting (AGM) of the company will be held on 30 December 2020.

Ashok Leyland

Ashok Leyland recorded 5% higher sales volume at 10659 units in month of November 2020 compared to 10175 units in November 2019. Total sales in November 2020 include domestic sales of 9727 units, higher by 4% over November 2019.

Escorts

Escorts Agri Machinery Segment in November 2020 sold 10,165 tractors, its highest ever November sales and registering a growth of 33% against 7,642 tractors sold in November 2019.

Domestic tractor sales in November was at 9,662 tractors registering a growth of 30.9% against 7,379 tractors in November 2019. The dealer and depot stocks continue to be low. Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest. The supply chain still is volatile but should improve going forward. We have taken a price increase this month to pass on the inflation in the commodity prices.

Export tractor sales in November 2020 was at 503 tractors against 263 tractors exported in November 2019, registering a growth of 91.3%.

Castrol India

The Board of Castrol India at its meeting held on 30 November 2020 has taken the following decisions:

i) Relinquishment of office of Chief Financial Officer & Wholetime Director, Rashmi Joshi (DIN: 06641898) with effect from close of business hours on 31 December 2020, to pursue another role within the bp Group.

ii) Appointment of Deepesh Baxi (DIN: 02509800) as Chief Financial Officer & Wholetime Director of the Company with effect from 1 January 2021.

Kesoram Inds.

Kesoram Industries announced that Kaushik Biswas has tendered his resignation from the post of Company Secretary and Compliance Officer of the Company. He will be relieved from the services of the Company w.e.f. close of business hours on 18 January 2021.

M & M

Mahindra & Mahindra announced that its overall auto sales (passenger vehicles+ commercial vehicles+ exports) for the month of November 2020 stood at 42,731 vehicles, compared to 41,235 in November 2019, a growth of 4%.

In the Utility Vehicles segment, Mahindra sold 17,971 vehicles in November 2020, compared to 14,161 vehicles in November 2019, registering a growth of 27%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,212 vehicles in November 2020, a growth of 24% over same period last year.

Exports for the month of November 2020 were at 1,636 vehicles

Nirlon

Nirlon announced that the interest rate on the Company's debt taken from HDFC, has been reduced from 8.80% to 8.00% p.a. effective from 01 November 2020. The loan has been taken for Nirlon Knowledge Park (NKP).

SML ISUZU

SML ISUZU announced that sales in the month of November 2020 stood at 516 units, lower by mere 1% over November 2019. The sales in the month of October 2020 stood at 582 units.

JBF Industries

JBF Industries announced that the Annual General Meeting (AGM) of the company will be held on 28 December 2020.

The Hi-Tech Gear

The Hi-Tech Gears announced that the 34th Annual General Meeting (AGM) of the company will be held on 26 December 2020.

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