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Tata Motors JLR retail sales up 1.3% in December 2019.

Tata Motors Jaguar Land Rover reported retail sales of 52,814 vehicles for December 2019, 1.3% up on the previous year. For December, Jaguar Land Rover retail sales were boosted by China (up 26.3% yoy), a sixth successive month of double-digit growth. This offset lower sales in North America (-1 .1 %), UK (-2.9%), Europe (-5.3%) and in Overseas markets (-7.6%). The new Range Rover Evoque continues to perform very well (up 33.2%) and the refreshed Land Rover Discovery Sport is gaining traction (up 19.6%). Sales of the Land Rover Discovery were also up, while other models were lower.

Emami Paper Mills locked in 10% upper circuit after posting robust Q3 show.

Shares of Emami Paper Mills were locked at 10% upper circuit on January 10 after the company reported a strong performance in Q3FY20. The company’s Q3 net profit rose by 224% to Rs18.5cr vs. Rs5.7cr in the same quarter last fiscal. Net sales rose 7.4% yoy to Rs400.08cr in the quarter ended Dec 2019. EBITDA rose 37% to Rs67cr vs. Rs48.9cr, while margin was up at 16.7% vs. 13.1% yoy.

Ashok Leyland partners with ABB Power Products in the public electric mobility space.

Hinduja Group’s flagship firm Ashok Leyland and ABB Power Products and Systems India on Thursday announced a partnership for co-operation in public electric mobility space with plans to develop electric bus that can be charged within seconds. The partnership aims to expand eco-system for efficient and greener electric bus transportation systems in India, the companies said in a statement.

KNR Constructions to sell entire stake in a BOT asset.

KNR Constructions informed the exchanges Thursday that the company has entered into Share Purchase Agreement dated January 09, 2020 with Cube Highways and Infrastructurc III Pte. Ltd. (the “Investor”) to sell its entire equity stake in a toll road BOT asset vi.z KNR Walayar Tollways Private Limitcd (hereinafter referred to as the “SPV”). The company holds 100% equity in the SPV. The enterprise value of the assets for this transaction is Rs529.27cr excluding claims reccivable from NHAI and other governmental instrumentalities, which would be passed through to the company as and when realised. The transaction is subiect to certain conditions precedent including approvals from lenders and NHAI, customary to transactions of this nature and parties anticipate closing of the transaction within next 2-3 months.

HDFC acquires Apollo Hospital Group’s shares in Apollo Munich Health Insurance.

Housing Development Finance Corporation (HDFC) said on Thursday after market hours said that it has completed the purchase of a majority stake in Apollo Munich Health Insurance for Rs1, 495.81cr. The company has acquired 51.16% equity share capital of Apollo Munich Health Insurance Company after receiving all requisite approvals from competition commission of India (CCI), Reserve Bank of India and Insurance Regulatory and Development Authority of India (IRDAI) by January 1. HDFC purchased 50.80% stake of Apollo Hospitals Group in Apollo Munich for Rs1, 485.14cr and 0.36% shareholding of employees for Rs10.67cr.

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