Market Commentary Monday, March 05, 2012 08:56 Hrs IST

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Hero MotoCorp may rise on likely overseas expansion

Hero MotoCorp reportedly plans to set up assembly plants in several countries and boost its technological capabilities through acquisitions or partnerships, as the firm seeks to expand its presence worldwide. According to the report, made-in-India two-wheelers are gaining popularity, especially in Africa and Latin America, as they are relatively cheap and fuel efficient. Establishing overseas assembly plants will also help Hero MotoCorp offer its products at a much more affordable price, especially in countries which levy lower taxes on locally built products, report added.

The private equity arm of luxury product group LVMH is reportedly in talks to invest about $150 million in Raymond Apparel, a unit of Raymond.

Gitanjali Gems said that its wholly-owned subsidiary, Aston Luxury Group, acquired entire stake in Leading Jewels of Japan K K with a view to expand its business in Japan and adjoining region. The main activity of Leading Jewels of Japan K K is production, sales, purchase, import and export of diamonds, precious stones, jewels and jewellery.

Indiabulls Power said its shareholders approved the scheme of arrangement between the company, Indiabulls Infrastructure Development and their respective shareholders and creditors. The said scheme of arrangement is now subject to the final approval by the Delhi High Court.

Titagarh Wagons has subscribed to the preferential allotment of equity shares made by Titagarh Marine (TML) and thereby TML has become 98.90% subsidiary of the company. TML's main objects are to carry on shipbuilding / marine business. Further, TML has entered into necessary agreements to acquire 100% stake each in two companies, which are already engaged in shipbuilding and marine business.

Prism Cement said that clinker production in Unit II at Satna will be temporarily suspended as there has been damage to the Blending Silo. There has been no injury and /or loss of life and cement production and dispatches shall continue. Also all operations, both for clinker and cement, at Unit I at Satna continue to be normal, the company added.

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