TVS Motor Company, Maruti Suzuki and Ester Industries to see some action today

TVS Motor Company has registered a 25 per cent growth in sales in April 2024, having sold 3,83,615 units this year compared to 3,06,224 units during the same month last year. Sales of total two-wheelers made in April this year went up by 27 per cent to 3,74,592 units, from 2,94,786 units sold in April 2023. Sales of two-wheelers in the domestic market also grew by 29 per cent to 3,01,449 units in April this year compared to 2,32,956 units sales made in same month of last year.

Maruti Suzuki India has reported a 4.7 per cent increase in total sales at 1,68,089 units in April 2024. The company had dispatched a total of 1,60,529 units to its dealers in the same month last year. Total domestic passenger vehicle sales were 1,37,952 units compared to 1,37,320 units in the year-ago period. Sales of mini segment cars, comprising Alto and S-Presso, declined to 11,519 units as against 14,110 units in April 2023.

Ester Industries has entered into a Joint Venture Agreement (JV Agreement) with Loop Industries Inc. (Loop), a Company under the laws of State of Nevada with principal office at Quebec, Canada, to incorporate a Joint Venture Company in India for the purpose of engaging in the business of manufacture of DMT and/or MEG through depolymerisation of PET and/or Polyester waste using patented Loop technology. 

Hero MotoCorp has sold 533,585 units of motorcycles and scooters in April 2024. This translates into a robust 34.7% growth over the corresponding month (April 2023), when it had sold 3.96 lakh units and a sequential growth of 9% over the previous month’s (March 2024) sales of 490,415. The volume growth in the month of April highlights the company’s sales trend, especially in the 125cc and 400+cc segments. The Xtreme 125R is witnessing a strong pull across the country and the company is swiftly ramping-up supplies to ensure smooth deliveries.

Vardhman Special Steels’ board approved Capex amounting to Rs 33 crore (approximate) for meeting the future incremental demand from the existing customers. The company plans to increase the capacity, especially the Steel Melting Shop by debottlenecking some of the processes, saving in change over time by doing some automations, strengthening R&D and investment in Environment protection. The Board of Directors of the Company in its meeting held on May 1, 2024 has approved the same.

Sonata Software’s 100% subsidiary -- Sonata Information Technology India has entered into a partnership with Denodo, a leader in data management, to provide Indian enterprises with advanced logical data fabric and data mesh capabilities. As part of the engagement, customers will have seamless access to cutting-edge solutions that will enable them to unlock greater value from their distributed data sets, streamline operations, and enhance decision-making.

Vishwaraj Sugar Industries has received approval to raise funds through issuance of equity shares of the Company (Equity Shares) by way of Qualified Institutions Placement (QIP) in accordance with the provisions of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time and other applicable Laws, in one or more of the tranches for an aggregate amount not exceeding Rs 99 crore, for cash and at such premium/discount, as applicable, subject to such approvals as may be required, including the approval of the Shareholders and further subject to such other statutory/regulatory/other approvals, as applicable.