Hero MotoCorp reported sales of 487,088 units for the month of January 2017, which is a substantial improvement from the December 2016 sales. The company had sold 563,348 units in the corresponding month last year (January 2016). In the month of January, the company added yet another significant market to its global operations, with the launch of Brand Hero in Argentina. The company now has operations in 35 countries across Asia, Africa, South and Central America.
Dishman Pharmaceuticals and Chemicals’ Bavla facility was successfully inspected by the US Food and Drug Administration (USFDA) in July, 2016. The company has now received the Establishment Inspection Report (EIR) from the USFDA for this facility on February 01, 2017. Thus, the company’s facilities in Bavla, Naroda and Switzerland continue to be approved by the USFDA.
In January 2017, Tata Motors passenger vehicles, in the domestic market, recorded sales at 12,907 units, with a growth of 21%, over January 2016, due to continued strong demand for the Tata Tiago. The company has also received an encouraging response to its recently launched lifestyle UV, Tata Hexa. Cumulative sales growth of all passenger vehicles in the domestic market for the fiscal were at 1,25,446 units, a growth of 18%, compared to 1,06,650 units, in the last fiscal. The overall commercial vehicles sales in January 2017, in the domestic market were at 28,521 units, lower by 7% over January 2016.
Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has reported its auto sales performance for January 2017 which stood at 39,303 vehicles compared to 43,789 vehicles during January 2016. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 20,096 vehicles in January 2017 as against 22,088 vehicles during January 2016. The company’s domestic sales stood at 37,042 vehicles during January 2017, as against 40,693 vehicles during January 2016. Exports for January 2017 stood at 2,261 vehicles.
Cipla’s wholly owned subsidiary - Goldencross Pharma has completed the sale of its 100% equity stake in Four M Propack, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers). Consequently, Four M Propack ceases to be a subsidiary of GoldenCross with effect from February 01, 2017. Earlier in January, Goldencross Pharma had entered in to a definitive agreement to sell its 100% equity stake in Four M Propack to Shriji Polymers for a consideration of Rs 13.5 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.7 crore.
Speciality Restaurants has closed its franchise restaurant, ‘Mainland China’ located at Inland Galore, 3rd Floor, Kankanady Bypass Road, Mangalore with effect from February 1, 2017. The total number of restaurants and confectionaries of the company are 105 (including 24 franchise restaurants) and 18 respectively. Besides, the company has temporarily suspended the operations of ‘Mainland China’ and ‘Flame & Grill’ restaurants located at South City Mall, Kolkata with effect from February 1, 2017 due to maintenance activity in the Mall.