M&M auto sales shrink ~6% in June
M&M sold 17,723 Utility Vehicles in June 2019, a growth of 8% over June 2018.
The Passenger Vehicles (PV) segment (which includes UVs, Cars and Vans) sold 18,826 vehicles in June 2019, as against 18,137 vehicles during the same period last year, a growth of 4%.
In the Commercial Vehicles segment, the company sold 16,394 vehicles in June 2019, as against 19,229 vehicles in June 2018.
In the Medium and Heavy Commercial Vehicles segment, M&M sold 705 vehicles for the month. Exports for June 2019 stood at 3,076 vehicles.
Jet Airways locked at 5% upper circuit on reports of Hinduja Group's interest
Shares of Jet Airways were locked at 5% upper circuit at Rs 70.95 on July 1 amid reports that the Hinduja Group-Etihad Airways consortium is keen to buy the beleagured airline.
An ET Now report said that a consortium of diversified conglomerate Hinduja Group & Etihad Airways is keen on bidding for Jet Airways under the Insolvency and Bankruptcy Code (IBC). Hinduja Group called on lenders in London this weekend to discuss terms and conditions for bidding under IBC, the report added.
Reliance Home Finance down ~7% on extending NCD maturity
Shares of Reliance Home Finance continued to trade lower through the day and are currently down ~7% on account of extending the maturity of the company's NCDs until October 31, 2019.
Reliance Home Finance, in a press note released on the 29th of June, 2019, stated, "In view of the continuing severe liquidity crisis in the sector, the maturity of certain NCDs of Rs400cr has been extended till 31st October 2019, with the formal written consent of the concerned Debenture Trustees and NCD holders. The extension of maturity has been made purely to address timing mismatches in receipt of proceeds from the ongoing monetisation of retail asset pools of the Company."
Alembic Pharma receives USFDA approval for Clonazepam ANDA
Alembic Pharmaceuticals today announced that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Clonazepam Orally Disintegrating Tablets USP, 0.125 mg, 0.25 mg, 0.5 mg, 1 mg and 2 mg.
The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Klonopin Orally Disintegrating Tablets, 0.125 mg, 0.25 mg, 0.5 mg, 1 mg and 2 mg, of Hoffmann-La Roche, Inc. (Roche). Clonazepam orally disintegrating tablet is useful alone or as an adjunct in the treatment of the Lennox-Gastaut syndrome (petit mal variant), akinetic and myoclonic seizures.
Maruti Suzuki continues to post weak nos; June sales dip 14% yoy
Maruti Suzuki once again posted weak sales data for June.
The country's largest car maker sold 1.24 lakh units in June 2019, lower by 14%, compared to 1.44 lakh units sold in the same month last year.
"We sold a total of 1, 24,708 units in June 2019. This includes 1, 13,031 units in the domestic market, 1,830 units of domestic OEM sales and 9,847 units of exports," the company stated.Passenger car sales fell 18.1% yoy to 83,952 units as mini and compact segments saw a 19.1% drop in sales.Sales in the utility vehicle segment, under which the company sold Vitara Brezza and Ertiga, fell 7.9% and van sales (Eeco and Omni) dropped 24% yoy in June.
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