Top stocks in focus: Auto stocks, RIL, Route Mobile, Panacea Biotec, DB Realty

2 Mar 2022 , 07:40 AM

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89% to 54,455 units in February.

Maruti Suzuki India (MSI) reported a marginal drop in total wholesales at 1,64,056 units in February.

Eicher Motors’ unlisted subsidiary, VE Commercial Vehicles (VECV) sold 5,856 units of commercial vehicles in February 2022, registering a rise of 7.3% year on year from 5,457 units in February 2021.

Tata Motors’ total domestic sales increased by 27% year-on-year to 73,875 units in February. The company had dispatched 58,366 units in February 2021.

Reliance Industries (RIL) will not lower the purchase price of the Future Group’s retail assets from Rs24,713 crore which was originally agreed upon when the deal was announced if the court allows it to acquire the business.

Route Mobile: It’s subsidiary Routesms Solutions FZE (RSL FZE) has successfully completed the acquisition of MR Messaging FZE, based in the United Arab Emirates. With this, MR Messaging has become a wholly-owned subsidiary of RSL FZE and a stepdown subsidiary of Route Mobile.

Panacea Biotec: The company will sell the pharmaceutical formulations brands of its subsidiary to Mankind Pharma. The total value of the transaction is Rs 1,872 crore. The company and its material subsidiary Panacea Biotec Pharma (PBPL) have entered into definitive agreements for the transaction. This stake sale is in line with the company’s strategic plan to become debt-free and focus on exports of pharmaceutical formulations in the US and other international markets besides the vaccine business in global markets.

DB Realty: The Supreme Court has allowed the real estate company to develop land in Mumbai. The decision makes freehold 22,000 square meters in commercial zone in Mumbai available to its subsidiary Esteem Properties for development. The company intends to develop the land into a 2 million square feet (leasable area) Grade A office space over the next three years.
Vedant Fashions: Ethnic wear brand Manyavar operator clocked healthy 24.1 percent year-on-year growth in consolidated profit at Rs127.8 crore on strong sales and operating income in the quarter ended December 2021. Revenue grew by 28% year-on-year to Rs384.8 crore. The company registered a 24.5% yoy growth in EBITDA at Rs191.5 crore for the quarter.

Huhtamaki India: The packaging solutions firm posted a loss of Rs13.52 crore for the December 2021 quarter against a profit of Rs5.08 crore in the corresponding period of the last fiscal. But the topline grew nearly 19% year-on-year to Rs661.6 crore in Q4CY21.

Vipul Organics: The specialty chemicals company has recommended bonus equity shares for its shareholders and employee stock options scheme for its employees in the 50th year of its operations. The company will issue one bonus share for every four shares held by shareholders and also issue 2 lakh options to eligible employees.
Lemon Tree Hotels: The company has signed a license agreement for 41 room hotel at Mukteshwar, Uttarakhand. The hotel is expected to be operational in July 2022. The hotel is owned by The Alpine Chalet Resort. Its subsidiary Carnation Hotels and the hotel management arm will be operating and marketing this hotel.