Market Commentary - Stock Alert
Infosys, Tata Motors, Hero MotoCorp, ABFRL, Uflex in focus As on : 02-Apr-24  08:57

Infosys: The company received order under Section 201 & 201(A) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending 31 March 2024, and also evaluating filing appeal against this order.

Tata Motors: The auto major's total domestic sales rose 2% to 90,822 units in March 2024 as against 89,351 units in March 2023.

Hero MotoCorp: The company sold 490,415 units of motorcycles and scooters in March 2024, as against 519,342 units sold in March 2023.

TVS Motor Company: The company registered a growth of 12% with sales increasing from 317,152 units in March 2023 to 354,592 units in March 2024.

Ashok Leyland: The company reported 4% fall in total vehicle sales at 22,866 units in March 2024 over March 2023.

Aditya Birla Fashion and Retail Ltd. (ABFRL): The board of directors of ABFRL has authorized the management of the company to evaluate vertical demerger of Madura Fashion & Lifestyle business from ABFRL into a separate listed company.

Bank of Maharashtra: Bank of Maharashtra said that it has appointed Subhasish Roy as chief risk officer for a period of 3 years on contractual basis with effect from 1 April 2024.

Uflex: Flex Films Rus LLC, Russia, step-down subsidiary of the company has commissioned CPP Film production Line with its installed capacity of 18000 MT per year.

Paisalo Digital: The meeting of board of directors of Paisalo Digital is scheduled to be held on 4 April 2024 to consider Issuance (Allocation) of Non-Convertible Debt Securities/Instruments on Private Placement basis.

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