11 July 2020

Table of Contents for Ticker Tape



Global road equipment major at Pune recently graduated its first training batch of 16 candidates, all fresh ITI candidates who completed training in August, they were immediately recruited by corporate majors like L & T and Gammon India. Second batch of 12 candidates were recruited by Dilip Buildcon ltd who own the largest fleet of Wirtgen Slipform pavers. The operators are certified by application specialists from Wirtgen Germany as well as by the IESC. Training programme provides complete application support Wirtgen’s advanced machines. Wirtgen also provides training at different project sites. A market leader in Road construction and its Road Rehabilitation technologies, over the past few years Wirtgen has sold over 100 slipform pavers for various prestigious road projects across India.



Auto major Tata Motors posted 2.7 per cent increase in its global wholesales at 1,03,761 units for October this year. Global sales of commercial vehicles and Tata Daewoo range stood at 37,400 units during the month, up 1.3 per cent, compared to the same period last year. Passenger vehicle segment saw a growth of 3.5 per cent in global sales at 66,361 units. Global numbers include subsidiary Jaguar Land Rover. Global wholesales of Jaguar Land Rover were at 49,757 units, Jaguar sales for the month stood at 13,295 units, Land Rover at 36,462 units.



Gulf Oil Lubricants India Ltd is extending its automotive sector partnerships by signing on Bajaj Auto, Force Motors, and Fiat. It recently tied up with Force Motors for commercial vehicles, and will be selling Adblue — an automotive grade urea that cuts down vehicular emissions — with Fiat. GOLIL’s existing OEM partners include Ashok Leyland, Mahindra, L&T Komatsu, Bharat Benz and Volvo Penta. GOLIL expects to commission a Rs 150-crore blending plant near Chennai end December, to shift about 30 per cent volumes to South India, from its existing plant in Silvassa, to reduce freight costs.



Eicher Motors (EML) posted a consolidated net profit of Rs.518 crore, second quarter ended September 30, up 25 per cent compared to Rs.413 crore in corresponding period last year. Its consolidated total income was up 23 per cent to Rs.2,167 crore during the quarter, as against Rs.1,755 crore in July-September quarter previous year. Royal Enfield posted its best ever performance in second quarter selling 2,02,744 motorcycles, registering best ever quarterly sales volume with a growth of 22 per cent compared to 1,66,582 motorcycles sold in same period last year. With reforms like GST, migration from BS III to BS IV emission norms behind now, the commercial vehicle industry started recovering in second quarter, Eicher’s quarterly outlook said. VECV growth was up 12 per cent as compared to the corresponding quarter last year. At the same time, the market continues to be highly competitive with heavy discounts continuing, he said.



PSU BEML Ltd is eyeing manufacturing of underground mining equipment. It plans to use its now shutdown facility of Mining and Allied Machinery Corporation (MAMC) in Durgapur to manufacture these equipments. It has appointed SBI Capital Markets (SBICAP) to conduct a feasibility study of MAMC, which was taken over by a consortium of Coal India (CIL), Damodar Valley Corporation (DVC) and BEML in 2010 for Rs.100 crore. BEML, DVC, and CIL, hold 48 per cent stake, and 26 per cent stake each, respectively. SBICAP is expected to complete the assessment in next two to three months. Incidentally the Coal Mining Planning and Development Institute (CMPDI) had prepared a feasibility report for the MAMC unit, but nothing much came of it.



Accelerating on the back of rapid roll out of road projects, Kolkata-based Srei Equipment Finance gave more disbursements and improved asset quality. Its consolidated disbursements during quarter ended September 30, grew 72 per cent, year-on-year, to Rs.6,011 crore. On standalone basis, Srei Equipment’s disbursements were up 55 per cent to Rs.8,309 crore during the third quarter. Its assets under management stand at Rs.26,000 crore. It plans to grow its asset financing business through leasing model, which currently accounts for 13 per cent (Rs.3,500 crore) of its total disbursements. It plans to raise nearly Rs.2,000 crore through an initial public offering, to fund its growing its core business. Gross NPAs as a percentage of assets was reduced to 2.08 per cent during the quarter (2.62 per cent during corresponding quarter a year ago), net NPAs declined to 1.47 per cent (1.8 per cent). The company had achieved a net NPA ratio of around 1 per cent, and plans to maintain that record. Srei Equipment holds 33 per cent share of the equipment finance market at present.




Amara Raja Batteries Ltd (ARBL) aspires to be a Rs.10,000-crore entity over next 2-3 years, it clocked a solid double-digit growth in its automotive segment. ARBL expects that its automotive segment will contribute around two-thirds of its overall sales next 2-3 years on the back of growing vehicle sales, it expects rest of its business will come from the industrial segment. ARBL is also eyeing the solar segment, which requires clean batteries for energy storage, to complement green power generation in India. ARBL is registering a 14-15 per cent CAGR in revenues past five years. Its automotive and industrial segments contribute in the ratio of 60:40 in revenue pie.

Its industrial segment is largely driven by the telecom industry and UPS - and solar has the potential to emerge as the third growth driver. It exports 12-15 per cent of volumes to South-East, South Asia, the Middle-East and some African countries — in both industrial and automotive segments.



Srei Infrastructure Finance recently announced, that Board of its wholly-owned subsidiary Srei Equipment Finance (SEFL), has approved raising upto Rs.2,000 crore through an initial public offer (IPO), subject to shareholders’ approval of its marketing conditions and receipt of requisite approvals from statutory and other authorities, an IPO of its equity shares by way of issue of fresh equity shares up to Rs.2,000 crore, according to a Srei Infrastructure Finance regulatory filing. The SEFL’s Board also approved participation by existing shareholders of Srei Infrastructure Finance in relation to such number of equity shares held by it which are eligible for offer for sale. The fresh issue size shall be reduced to extent of participation in offer for sale by existing shareholders, if any, as may be decided by the Board of Directors of SEFL or any duly constituted committee thereof, in its absolute discretion in consultation with the book-running lead managers appointed in relation to the IPO, the company elaborates.



Farm equipment manufacturer Escorts Agri Machinery has reported a 13.8 per cent increase in its tractor sales at 10,205 units for October. The agro division had sold 8,970 tractors in the same month a year ago. Escorts’ domestic tractor sales were up at 12.9 per cent, at 10,001 units, as against 8,859 October last year. Exports nearly doubled to 204 units from 111 in October 2016.




Part of the Mahindra Group, Mahindra Powerol, recently launched its all new range of 250/320 kVA DGs, powered by the Mahindra mPower series of engines. Designed at Mahindra Research Valley, its R&D hub in Chennai and manufactured at its Chakan plant near Pune, the 9.3 litre engine range is latest addition to Mahindra Powerol’s mPOWER series, it has a technologically advanced CRD engine. This marks Powrerol’s foray into higher kVA diesel generator segment, with its own engines, the CRDe technology will deliver lesser emissions and higher performance at a lower operating cost.




Daimler India Commercial Vehicles (DICV) reported its highest-ever quarterly sales of BharatBenz trucks, and ended the September quarter with double-digit market share. It doubled truck sales at 4,855 units during July-September 2017, compared with 2,438 units in the year-ago period. Its previous highest quarterly sales were 4,037 units, in first quarter calendar year 2016. It sold 12,145 BharatBenz trucks first three quarters of 2017, against 10,381 units in same period in 2016, a growth of 17 per cent. Its market share in 9-49 ton truck segment is up 10.8 per cent during July-September, up from 7.1 per cent a year-ago quarter, and 8.7 per cent in April-June 2017. DICV is upbeat for the future because it already meets future regulatory updates of incoming new safety norms.


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