Infosys, Hero MotoCorp, Biocon in spotlight

September 17,2021

Infosys announced that it would collaborate with Frost Bank to provide strategic business consulting and digital capabilities that will enable Frost Bank to offer mortgage loans along with its other consumer loan products.

Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021. The price hike across the range of motorcycles and scooters will be up to Rs. 3,000. The exact quantum of increase will depend on the model and the market.

Shares of Kotak Mahindra Bank will be in focus. Kotak Mahindra Group (Kotak) and Volkswagen Finance Private Limited (VWFPL) announced that Kotak has acquired the vehicle financing loan portfolio of VWFPL, the Indian captive financing arm of Volkswagen Group. Kotak Mahindra Prime Limited (Kotak Prime) will acquire the passenger cars and two-wheelers portfolio, and Kotak Mahindra Bank Limited (KMBL) will acquire the commercial vehicles portfolio of VWFPL.

Biocon Biologics (BBL), a subsidiary of Biocon and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt. Ltd. announced a strategic alliance. Under the terms of the agreement, BBL will offer approximately 15% stake to SILS, at a post-money valuation of ~$4.9 billion.

TVS Motor Company announced a partnership with EGO Movement as a majority shareholder, in an all-cash deal through its Singapore Subsidiary TVS Motor (Singapore) Pte Ltd.

Balkrishna Industries informed that it has commenced the trial production at Green Field Project located at F-20 - Waluj, Aurangabad, Maharashtra with an installed capacity of 30,000 MT per annum along with warehousing facility for raw materials and finished goods.

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