Sector: Tractor
Tube Investments jumps into EV bandwagon. Soon launching EV tractors and three wheelers.
MD of Tube Investments of India (TII) has said that the Company will be soon launching electric tractors and three wheelers. Key points to note – Initially a low HP electric tractor will be launched, maximum by July 2022. Electric three wheeler will be launched by August 2022. Both these segments are selected as the … Read more
Kubota decides to buy fresh into Escorts. Promoters stay back.
There was a rumour few months back that Kubota will buyout Nanda family. What has instead happened is that Kubota has decided to invest fresh and become a joint promoter with Nandas. Key points to note – Kubota is investing Rs 1,873 crore into Escorts at a price of Rs 2,000/ share. As per regulations, … Read more
Kubota of Japan rumoured to acquire Nanda’s stake in Escorts
Kubota Corp (KC) of Japan, an agriculture and heavy equipment firm is rumoured to be in discussions with the promoters (Nanda family) to acquire their stake in Escorts Ltd (EL). Key points to note – KC’s current mcap is around USD 27 bn and EL’s about USD 2.7bn. KC already owns 9.09% in EL – … Read more
Shareholders voted down Siddhartha Lal as Eicher Motor’s MD over proposed pay hike
In one of the rare incidences, shareholders have voted down the appointment of Siddhartha Lal as the MD of the Company due to the proposed pay hike of 10%. Shareholders had primarily voted against the pay hike – it being higher than the median employee salary hike of 1% and also the financial performance of … Read more
Demand revival puts auto sales in top gear, Maruti posts 50% growth
Auto sales, a key indicator of the macro economy, showed significant growth in July, with passenger vehicle volumes improving on the back of a healthy order book and an uptick in enquiries and bookings in urban and rural areas. The wage revisions for government employees have also likely aided demand. India’s largest carmaker, Maruti … Read more