The company says that the price hike has been necessitated to partially recover the increase in the price of raw material like steel, tyres and castings
Hinduja Group flagship company Ashok Leyland (ALL) today announced a price hike of its entire range of commercial vehicles by up to Rs50,000 on account of rising input costs with immediate effect, reports PTI.
"This price hike has been necessitated to partially recover the increase in the price of raw materials like steel, tyres, castings, etc," ALL said in a statement.
The company has increased the prices of its medium and heavy commercial vehicles by about three per cent with immediate effect, it added.
This hike will translate into a rise of its product prices between Rs20,000 to Rs50,000, the statement said.
On Tuesday, Ashok Leyland shares declined 0.4% to Rs63 on the BSE, where the benchmark Sensex also declined 1.4% to 17534 points.
Pantaloon Retail (India) Ltd on Tuesday said it has allotted one crore warrants to its promoters' group company, Future Ideas Realtors India Ltd.
The company's committee of directors has allotted 1 crore warrants at Rs400 per share, aggregating to Rs400 crore to Future Ideas Realtors India, Pantaloon Retail said in a filing to the Bombay Stock Exchange.
The company has allotted shares of the face value of Rs2 each, at a premium of Rs398 per share, aggregating to Rs400 each. It, however, did not give details regarding reasons for allotment of the warrants. Pantaloon Retail is the flagship company of Future Group.
The group's chief promoter Kishore Biyani had last year said that it aims to be a Rs25,000 crore entity by 2013-14, up from around Rs10,000 crore last year. He had also said that the group aims to add 18 million sq ft of retail space by end of the period.
On Tuesday, Pantaloon Retail shares declined 1.9% to Rs414.5 on the BSE, where the benchmark Sensex also declined 1.4% to 17534 points.
Hyderabad-based Natco Pharma Ltd said it launched the generic version of Anastrazole 1 mg tablets in the US through the company’s marketing partners.
Anastrazole is used in the treatment of breast cancers and the market for this product in the US is expected to be in the region of $750 million per annum, according to a company press release on Tuesday.
On Tuesday, Natco Pharma shares fell 3.8% to Rs203 on the BSE, where the benchmark Sensex declined 1.4% to 17534 points.