Shares of Tata Motors rallied 11 per cent to Rs 311 on the BSE in Tuesday s intra-day trade after the company retained positive momentum and reported a 15 per cent month-on-month (MoM) and 94 per cent year-on-year (YoY) growth in domestic passenger vehicles (PV) sales at 26,978 units during the month January 2021. The stock of Tata group commercial vehicles (CVs) company was trading at its highest level since June 2018. Total CVs sales during the month remained flat at 32,909 units on MoM basis while declined 3 per cent on a YoY basis. Tata Motors total sales in the domestic & international market for January 2021 stood at 59,959 units, compared with 47,862 units during January 2020, the company said in a press release.
Lupin Q3 net profit beats expectations, but Street awaits more triggers
The move impacts multinational drugmakers, like Abbott Laboratories Ltd and GlaxoSmithKline Plc, and a number of local firms, including Lupin Ltd, Cadila Healthcare Ltd and Ipca Ltd, all of whom sell drugs added to the list. Photo: Bloomberg
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Lupin s December quarter performance was led by a recovery in US sales growth, though domestic sales also revived after facing covid-19 led disruptions.
US, which remains the largest market and drives overall earnings, grew well during the quarter. North America sales, contributing 37% to overall revenues, grew 4.8% year-on-year. US sales, at $188 million, were slightly higher than $186 million seen in the previous year and $180 million in the previous quarter. The quarter saw three product launches in the US market, taking the number of products in the US generics market to 169.
Cinemas may be open, but PVR’s Q3 shows good content is badly needed
The multiplex sector has been among the worst hit due to the covid-19 pandemic, with operations remaining closed relatively longer than other sectors.
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Cinemas were allowed to resume operations from mid-October with 50% capacity. But PVR Ltd’s third quarter results show that this has barely moved the needle for the firm.
For the December quarter, consolidated revenues for the company declined by 95% vis-à-vis last year’s corresponding quarter to ₹45 crore. This is similar to the show in the September quarter, when revenues had declined 95.8%. Analysts at Motilal Oswal Financial Services Ltd estimate that even though cinemas opened with permissions for 50% occupancy, actual occupancy levels were only around 1% in Q3. Blame it on poor content. In a classic chicken-and-egg situation, producers are waiting for occupancy levels to rise before releasing movies in the
Coal India’s diversification into new biz could burn cash due to high cape
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Coal India, the world’s largest coal mining company, could lose up to 1.2 million tonnes (mt) of coal output a day owing to the strike. Photo: Getty Images
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Coal India Ltd (CIL) is exploring moving to other pastures for growth. After struggling to ramp up production of coal for some time now, the firm has not been able to deliver shareholder returns this year due to a barrage of concerns.
A shift towards renewable energy, environment concerns for thermal power sector, and competition from merchant minors have led to a de-rating of the stock. As a result, it has been among the biggest losers in 2020, sliding 36% compared to the 17% gains in Nifty 500.