✍️Stocks in News
Tata Motors: UK-based Jaguar Land Rover reported sales volumes at 78,825 units for three-month period ended June 2022, down 37% YoY and flat compared to previous quarter. Despite a record order book of 2 lakh units, sales continued to be constrained by the global chip shortage, compounded by the run out of the prior model Range Rover Sport, with deliveries just starting, and the impact of Covid lockdowns in China.
Kalpataru Power Transmission: The subsidiary in Sweden - Kalpataru Power Transmission Sweden AB (KPT Sweden) has completed the acquisition of remaining 15% equity stake of Linjemontage i Grastrop AB, a Swedish EPC company (LMG) headquartered in Grastrop, by paying $11.5 million. LMG also has two subsidiaries.
Response Informatics: The company said the board will hold a meeting on July 14 to consider the proposal for acquisition of Technologia Corporation, Jersey, USA. Hence, the trading window for dealing in the securities of the company will be closed for all the directors', designated persons of the company and their immediate relatives during July 8-16, 2022.
Xelpmoc Design and Tech: The company will invest Rs 21.5 lakh in Xperience India, the special purpose vehicle proposed to be incorporated in Madhya Pradesh, for 43% stake, which is engaged in business of tourism with the help of technologies to be developed related to travel and tourism sector. The company already received contract from Madhya Pradesh State Tourism Development Corporation. Xelpmoc will also invest nearly Rs 25 lakh in IT firm Firstsense Technology, in one or more tranches, for 32.26% stake. The transaction is expected to be completed by end of September 2022.
Pricol: The company has entered into Licensing Agreement with BMS PowerSafe SAS, France, for providing battery management system to the original equipment manufacturers in Indian market and international markets, across all vehicle segments. BMS PowerSafe is the brand of Startec Development Group.
Vedanta: The company will be undertaking acquisition of Athena Chhattisgarh Power which is a 1200MW coal-based power plant at Jhanjgir Champa district, Chhattisgarh, and is under liquidation process. The acquisition, which is estimated to be completed in FY23, will fulfill the power requirement at Vedanta aluminium business. The acquisition cost is Rs 564.67 crore.
Vakrangee: The company has clocked profit at Rs 4.53 crore in quarter ended June 2022, down significantly from Rs 23.33 crore in corresponding quarter last year as gross margins impacted primarily due to the launch of additional franchisee incentive schemes. It said profit margins have bottomed out and it is confident to deliver improved profitability & sustainable growth in the subsequent quarters. However, revenue from operations increased sharply to Rs 226.03 crore in Q1FY23 as against Rs 154.02 crore in same period last year.#Vedanta #PRICOLLTD #KALPATPOWR #TATAMOTORS #VAKRANGEE