Corporate Action

Ashok Leyland

Ashok Leyland has achieved total sales of 14561 units in month of November 2022 compared to 10480 units in November 2021, higher by 39%. Total sales comprised of domestic sales of 13654 units, higher by 46%.

Eicher Motors

Eicher Motors announced that its subsidiary, VE Commercial Vehicles has achieved total sales of 4903 units in the month of November 2022 compared to 4085 units, recording a growth of 20%. Total sales comprise of domestic sales of 4483 units, exports of 237 units and Volvo trucks and buses of 183 units.

Escorts Kubota

Escorts Kubota Agri Machinery Segment in November 2022 sold 7,960 tractors, registering a growth of 11.9% as against 7,116 tractors sold in November 2021.

Domestic tractor sales in November 2022 were at 7,359 tractors registering a growth of 13.4% as against 6,492 tractors sold in November 2021. Post festive season, demand continues to be normal. While rural sentiments continue to remain favorable owing to improved Rabi sowing assisted by good monsoon this year and better water level in reservoirs, softening in commodity prices is not happening at desired pace leaving input costs to be higher than anticipated.

Export tractor sales in November 2022 was at 601 tractors as against 624 tractors sold in November 2021.

Grasim Inds

Grasim Industries has allotted 10,000 - 7.63% Rated, Listed, Unsecured, Redeemable Non-Convertible Debentures (NCDs) of Rs 10 lakh each (Series 22-23 II, 7.63% GIL 2027) aggregating to Rs 1,000 crore, on private placement basis. These NCDs have been rated “AAA (STABLE)” by CRISIL and ICRA.

H D F C

Housing Development Finance Corporation has further sold 14,26,497 shares representing 2.40% of the paid-up share capital of Ansal, which includes sale of 6,24,000 shares representing 1.05% of the paid-up share capital of Ansal done on 30 November 2022.

Larsen & Toubro

Larsen & Toubro has successfully closed a three-year USD 107 million sustainability-linked loan from Sumitomo Mitsui Banking Corporation (SMBC) on 30 November 2022, with SMBC appointed as the sole Sustainability Coordinator and Lender. This sustainability linked loan underscores L&T's continued commitment to its environmental, social and governance (ESG) goals.

The facility incorporates interest rate reductions linked to the achievement of two of L&T's predetermined sustainability targets – the reduction of greenhouse gas emission intensity and water consumption intensity against the target levels. These targets have been selected on the basis that they are relevant and material to the company's overarching sustainability position and strategy. The loan fulfilled the core requirements under the Sustainability Linked Loan Principles and DNV Business Assurance Singaporehas provided Second Party Opinion on L&T's SLL.

M & M

Mahindra & Mahindra announced that its overall auto sales for the month of November 2022 stood at 58,303 vehicles compared to 40,102 vehicles in November 2021, recording a growth of 45.38%. Total sales comprise of 30,392 domestic passenger vehicles sales, 24,789 domestic commercial vehicle and 3-wheeler sales and 3,122 export units.

PCBL Ltd

PCBL has commissioned green power plant at Kochi, in Kerala with a capacity of 7 MW. With this the capacity of green power at Kochi is 17 MW and the total capacity of green power stands at 98 MW.

Nath Industries

Nath Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 December 2022 .

Sundaram Brake

Sundaram Brake Linings announced that S Ramabadran has retired from the post of Chief Financial officer of the Company at the close of the working hours on 30 November 2022.