Hero MotoCorp sold 505,467 units of motorcycles and scooters in February 2021. The company had dispatched 498,242 units of two-wheelers during the corresponding month of the previous year (February 2020).
Eicher Motors said its total motorcycle sales rose to 69,659 units in February 2021 from 63,536 units in February 2020.
Bharat Petroleum Corporation (BPCL) said that its Board of Directors approved the proposal for sale of entire equity shares i.e. 45,35,45,998 equity shares of Rs 10/-each held by BPCL in Numaligarh Refinery (NRL) (constituting 61 .65% of the total equity capital of NRL), a material subsidiary company of BPCL to a consortium of Oil India and Engineers India, (consortium); and to Govt. of Assam, or only to the said consortium in case Govt. of Assam does not participate in purchase of said shares, in such proportion and on such terms and conditions as approved by the Board. Total consideration would be Rs. 9875.96 crore.
Auto stocks will be in focus today as sales data for the month of February will be released.
Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Reliance Industries (RIL), announced that it has acquired additional equity stake in its investee company skyTran Inc. (skyTran) for a consideration of $26.76 million increasing its shareholding to 54.46% on a fully diluted basis.
Bharti Airtel informed that its wholly owned subsidiary Airtel Digital has agreed to subscribe to 5,000 equity shares (10%) in Ferbine Private Limited on February 25, 2021.
The board of Indian Oil Corporation (IOCL) at its meeting held on 26 February 2021 approved an investment of Rs 32,946 crore to expand the capacity of Panipat Refinery. This capital infusion is expected to increase the capacity of refinery to 25 MMTPA from 15 MMTPA.
After the acquisition, RSBVL s shareholding in skyTran increased to 54.46% on a fully diluted basis.
skyTran is a technology company incorporated under the laws of Delaware, United States of America (USA) in 2011. skyTran has developed breakthrough passive magnetic levitation & propulsion technology for implementing personal transportation systems aimed at solving the problem of traffic congestion globally.
The technology has been developed by skyTran to create Smart Mobility Solutions. The proposed skyTran transportation systems would consist of computercontrolled passenger pods running on its state-of-the-art, patented Passive Magnetic Levitation technology and would use cutting edge IT, Telecom, IoT and Advanced Materials technologies to transport passengers in a fast, safe, green, and economical manner. It is also supported by notable global venture capital investors such as Innovation Endeavors.
Invests USD 26.76 mn to hike its stake to 54.46% in skyTranReliance Strategic Business Ventures, a subsidiary of Reliance Industries, announced that it has acquired additional equity stake in its investee company skyTran Inc.
(skyTran) for a consideration of USD 26.76 million increasing its shareholding to
54.46% on a fully diluted basis.
skyTran is a technology company incorporated under the laws of Delaware, United
States of America (USA) in 2011. skyTran has developed breakthrough passive
magnetic levitation & propulsion technology for implementing personal
transportation systems aimed at solving the problem of traffic congestion globally.
The technology has been developed by skyTran to create Smart Mobility Solutions.
On 26 February 2021Petronet LNG has incorporated a wholly owned subsidiary, Petronet Energy on 26 February 2021.
The newly incorporated wholly-owned subsidiary Company i.e Petronet Energy
shall undertake the businesses/activities, including but not limited to
Gassing up and/ or Cool down and supply of heel quantity to LNG vessels, LNG
bunkering, Training, Consultancy, other value-added marine, transport, LNG
services etc. as per the object clause of the Memorandum of Association of the
Company.
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