Hero MotoCorp shares increase as the two-wheeler manufacturer implements price increases to combat input inflation.
After the firm said it will be raising the price of bikes and scooters, Hero MotoCorp’s share price increased by more than a percent in early trading on June 24. Beginning on July 1, Hero MotoCorp will increase the ex-showroom prices for bikes and scooters.
The increase, which could be up to Rs 3,000, is intended to at least partially balance the inflationary trend in input costs. Due to supply issues brought on by geopolitical unrest, the business postponed the July debut of its first electric two-wheeler.
At 24 June, Hero MotoCorp was trading on the BSE at Rs 2,710.15, up Rs 39.30 or 1.47 percent. The share reached a 52-week high of Rs 2,994.55 on June 23, 2021, and a 52-week low of Rs 2,148.00 on March 8, 2022, respectively
After the board authorises the acquisition of Blink Commerce, Zomato shares decline.
The board of Zomato approved the purchase of Blink Commerce on June 27, which caused the company’s shares to decline following a strong beginning.
On the BSE, the stock began at Rs 73 per share, an increase of almost 3% from the previous close. When the market opened at 11:18 a.m., it was down nearly 5% to Rs 66.95 per share, while the benchmark 30-share index was up 541.53 points, or 1.03 percent, at 53,249.99.
Zomato notified the stock exchanges on June 24 after market hours that its board has approved the purchase of up to 33,018 equity shares from fast commerce startup Blink Commerce (BCPL) (formerly known as Grofers India) for Rs 4,447.48 crore in an all-stock transaction.
Gains of 2% for Dr. Reddy’s on the portfolio of injectable products from Eton Pharma
Following the company’s acquisition of an injectable pharmaceutical portfolio from Eton Pharma on July 27, Dr Reddy’s Laboratories’ share price increased by 2% during the course of the day. Eton Pharmaceuticals, Inc., established in Deer Park, Illinois, sold its portfolio of branded and generic injectable pharmaceuticals to Dr. Reddy’s Laboratories.
The portfolio comprises the first-to-file approved ANDA for Cysteine Hydrochloride for the US, the NDAs for Biorphen (phenylephrine hydrochloride) and Rezipres (ephedrine hydrochloride) with nine distinct combinations of strengths and presentations.
India’s budding drone sector, worth Rs 80 billion, expands for a long-term investment of Rs 15 billion.
The government is making every effort to help domestic businesses by modifying its laws and regulations as part of its push to promote the Make-in-India initiative. This will result in an increase in the number of goods produced in the nation. Making drones, or unmanned aerial vehicles, is one industry that the government is heavily promoting and supporting (UAV).
Drone use has countless potential uses, including those in agriculture, defence, law enforcement, surveillance, delivery services, workplace productivity, private events, and more. The government has made it plain that it wants India to be a centre for drone production by 2030, which bodes extremely well for the sector’s growth.
A forecast from the civil aviation ministry predicts that India’s drone industry will grow from its current annual revenue of roughly Rs 80 crore to between Rs 12,000 and Rs 15,000 crore by 2026.
In advance of June sales data, the index of auto stocks rebounds and reaches above 5-month highs.
After a day off, auto stocks returned to the spotlight on June 28, when the sectoral index gained more than 1% and recovered the losses from the day before. Consistent purchasing preceded the monthly sales figures, which will be made public on July 1.
The stock of Tube Investments of India increased by more than 7 percent among those for the automotive and auxiliary industries, with gains of 1.5–3 percent coming from Mahindra & Mahindra, Ashok Leyland, TVS Motor Company, Bharat Forge, and MRF. Additionally finishing in the black were Exide Industries, Bajaj Auto, Tata Motors, Eicher Motors, Maruti Suzuki, Bosch, Hero MotoCorp, Balkrishna Industries, and Amara Raja Batteries.
The Nifty auto index increased by 1.25 percent to settle at 11,832, bringing its overall rise since hitting a recent low on June 20 to more than 10 percent. The stability of metal prices, a crucial raw material for the manufacturing of vehicles, is a fundamental factor in the outperformance.
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