Auto firms: Major car makers such as Maruti Suzuki, Hyundai, Mahindra and Mahindra posted strong growth in domestic sales in July riding on improved consumer sentiment. Even two-wheeler firms excelled. Domestic two-wheeler sales grew by 18.7 per cent, with Hero MotoCorpBSE 1.10 % and TVS Motors registering decent growth. Bajaj Auto numbers were not out yet.
SBI: As part of its branch optimisation measures, State Bank of India recently either shut down or relocated more than 400 branches to cut costs.
NBFCs: The Reserve Bank of India (RBI) issued new licensing guidelines that seek to encourage non-banking finance companies (NBFCs) to turn themselves into full-fledged banks, restrict the country’s biggest conglomerates to a 10% stake in new lenders and bar state-run companies
Indigo: IndiGo, India’s largest carrier in terms of passengers carried, registered a 7.3% decline in their profits during the first quarter from Rs 638 crore during 2015 to Rs 591 crore during the current year on account of competitive fares.
Eicher: Eicher Motors subsidiary Royal Enfield on Monday reported a 31 per cent rise in total motorcycle sales at 53,378 units in July. The company sold 40,760 units in the same month last year.
Wipro : Wipro arm Wipro Infrastructure Engineering (WIN) will acquire Israel-based H R Givon, supplier of metallic parts and assemblies to the aerospace industry, in an all-cash deal. WIN, however, did not disclose the size of the deal.
KEC: Power transmission engineering company KEC InternationalBSE 1.78 % plans to more than double its sales in Southeast Asia due to slowing orders from Power Grid Corporation of India (PGCIL), which accounts for half of its business, as well as West Asia.
GCPL: After witnessing a sluggish first half, FMCG firm Godrej Consumer Products (GCPL) expects demand to be better in the remaining period of the year with implementation of 7th Pay Commission ..
of the year with implementation of 7th Pay Commission and passing of GST likely to increase consumption.