Hero MotoCorp: The two-wheeler major on Monday reported 33.91 per cent dip in its total sales in December 2016 at 3,30,202 units as against 4,99,665 units in the same month previous year. The company said its three manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from December 26-31, 2016 on account of annual maintenance.
ICICI Bank: Joining State Bank, PNBBSE 1.04 % and several others, ICICI Bank also cut the base lending rate by 0.70 per cent making home, auto and other loans cheaper.
OBC and Andhra Bank: Oriental Bank of Commerce (OBC) slashed the one-year MCLR rate by 0.8 per cent to 8.60 per cent while Andhra BankBSE 1.15 % has brought it down by similar percentage point to 8.65 per cent.
Titan BSE 4.74 % Company: Tata Group firm Titan Company said its jewellery sales have reached “pre demonetisation” level in December but sales of watches through multi-brand outlets are yet to recover. The retail growth for Tanishq in Q3 FY 17 is around 15 per cent.
Power Grid: The company has transferred 3.06 crore shares in Power System to government.
Tata Motors: The auto company reported a 2 per cent increase in total sales at 40,944 units in December as against 39,973 units sold in the year ago period.
Balrampur Chini Mills and Dhanuka Agritech: Both Balrampur Chini Mills and Dhanuka Agritech have received member’s nod for buyback of equity shares.
SBI: The nation’s largest lender State Bank of IndiaBSE 0.70 % (SBI) said the 90-basis points-reduction in the lending rates is likely to prop up its sagging loan growth and expects to boost the loan book to 8-9 per cent for the current financial year.
Infosys: Cautioning InfosysBSE -1.80 % employees that the road ahead is long and not easy, company CEO Vishal Sikka has stressed the importance of automation and warned against “lackadaisical” attitude towards greater value creation.
TVS Motor: TVS MotorBSE 0.26 % Company reported 8.47 per cent decline in total sales at 1,84,901 units in December. The Chennai-based company had sold 2,02,021 units in December 2015.