It has secured new orders of Rs 1,806 crore across its various businesses.
Lenders to the company transferred a majority of the promoter family’s pledged shares to an escrow account, for a possible sale to a strategic investor. Promoter Subhash Chandra’s 22.37 per cent stake was pledged with a clutch of lenders. The stake sale will now be led by bankers, said a person close to the development. A majority of the promoter’s stake was pledged with VTB Capital, mutual funds (MFs), and Indian banks. READ MORE
Hero MotoCorp: Two-wheeler market leader Hero MotoCorp on Friday reported 18.43 per cent decline in total sales at 5,99,248 units in October. The company had sold 7,34,668 units in the same month last year, it said in a statement.
Tata Motors: Tata Motors on Friday reported a 33.58 per cent decline in total sales at 41,354 units in October. The company had sold a total of 62,264 units in the same month last year, Tata Motors said in a statement.