March 1, 2022:

Indian Markets Were Closed On The Occasion Of Maha Shivratri. 

News Wrap:

Sales Report: 

Tata Motors: 

• Total sales of Tata Motors in the domestic & international market for February 2022 were 77,733 units, 26.89% higher than 61,258 units sold during February 2021.

• Total domestic sales stood at 73,875 units in February 2022, up 26.89% YoY.

• Total CV domestic sales were 33,894 units in February 2022, up from 31,141 units in February 2021. 

• CV Exports increased 35% to 3,658 units in February 2022 over 2,718 units in February 2021.

• Total CV stood at 37,552 units in February 2022, up 11% YoY. 

• Total Medium and Heavy Commercial Vehicles (MHCVs) sales in February 2022 stood at 14,596 units, up 13.8% from 12,825 units in February 2021.

• Total PV domestic sales increased 47% to 39,981 units in February 2022.

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Ashok Leyland: 

• Ashok Leyland’s commercial vehicle sales stood at 14,657 units in February 2022, up from 13,703 units sold in February 2021. 

• Domestic sales stood at 13,281 units, up 4% from 12,776 units sold in February 2021.

• Medium and heavy commercial vehicle ( MHCVs) sales stood at 8,280 units in February 2022, up 16% from 7,114 units sold in February 2021.

• Sales of light commercial vehicles ( CVs) in the domestic market stood at 5,001 units in February 2022, down 12% from 5,662 units sold in February 2021.

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Mahindra & Mahindra (M&M):

• Total sales of Mahindra & Mahindra (M&M)increased 89% to 54,455 units in February, against 28,777 units sold in February 2021.

• Passenger vehicle sales in the domestic market stood at 27,663 units, up 80% from 15,391 units sold in February 2021. 

• Commercial vehicle (CV) sales stood at 23,978 units in February 2022, compared with 11,559 units in February 2021.

• Total exports in February 2022 were 2,814 units compared with 1,827 units in February 2021. 

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Maruti Suzuki: 

• Maruti Suzuki sold 1,40,035 units in the domestic market, down 8.46% from 1,52,983 units sold in February 2021.

• Sales of mini cars, including Alto and S-Presso, stood at 19,691 units, down 17.81% compared with 23,959 units sold in February 2021.

• Sales in the compact segment, comprising Swift, Celerio, Ignis, Baleno and Dzire, stood at 77,795 units, down 3.38% from 80,517 cars sold in February 2021.

• Sales of mid-sized sedan Ciaz jumped 1,912 units over 1,510 units in February 2021.

• Utility vehicle sales, comprising Vitara Brezza, S-Cross and Ertiga, stood at 25,360 units compared with 26,884 vehicles sold in February 2021. 

• Total Exports increased more than two times to 24,021 units from 11,486 units sold in February 2021.

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More To Know: 

• Former Turkish Airlines chairman Ilker Ayci has refused to go ahead with Tata Group’s offer to be the chief executive officer and managing director of Air India. 

• Gross revenue collection from the Goods and Services Tax (GST) increased to ₹1.33 lakh crore in February 2022, up 18% year-on-year, showed the government’s data.

• India’s power consumption growth increased 2.2% YOY to 105.54 billion units (BU) in February 2022, up from 103.25 BU in February 2021 and 103.81 BU in February 2020, showed the power ministry data.

• Varun Beverages' board of directors authorized a proposal to enter into an arrangement with PepsiCo India Holdings Private Limited to produce 'Kurkure Puffcorn' as part of their network of co-packers.

• BharatPe Co-Founder Ashneer Grover quits the company and its board, following his wife Madhuri Jain Grover was sacked from the company over alleged misappropriation of funds.

• The IPO of Life Insurance Corp. may get delayed, owing to Russia’s invasion of Ukraine, Finance Minister Nirmala Sitharaman said in an interview.

• Adani Group will acquire a minority stake in Raghav Bahl's Quintillion Business Media Pvt Ltd for an undisclosed amount. 

• State-run oil & gas company Bharat Petroleum Corp, reportedly, is trying to get extra oil from Middle Eastern producers for April, dreading the Western sanctions against Russia to hit deliveries of Urals crude.

• Bharat Petroleum Corporation Limited (BPCL) has launched a gas distribution network in the Aurangabad and Ahmednagar districts of Maharashtra. It will infuse Rs 4,000 crore for the completion of the project.

• Tata Steel Advanced Materials (TSMAL) has signed a share purchase agreement with Ceramat to buy 90% ownership holding.

• Adani Green Energy Ltd’s subsidiary Adani Renewable Energy Holding Fifteen Limited has received a letter of award (LOA) to set up a 150 MW solar power project. For 25 years, the fixed rate for this project capacity is $2.34/kWh.

• SBI Mutual Fund’s (SBI MF) new fund offer (NFO) of its multi-cap fund, which opened between February 14 and February 28, reportedly gathered over Rs 7,500 crore of investor flows.