Apollo Tubes Limited Q2FY24 Sales Volume of 674,761 Ton
Apollo Tubes Limited, India’s leading branded structural steel tube company, has announced today its sales volume performance for Q2FY24. The Company registered sales volume of 674,761 Ton in Q2FY24.
This is the highest quarterly sales volume reported by the company. For H1FY24, the company reported sales volume of 1,336,262 Ton, an increase of 30% YoY. The contribution from value-added segment was stable at 55% in Q2FY24. APL Apollo’s strategy of de-commoditization is intact.
The sales mix will improve further in coming quarters with rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value added products.
JK Cement Appoints Anuj Khandelwal as Business Head for Grey Cement business effective 16th October’23
JK Cement Ltd., a prominent manufacturer of Grey Cement in India, has recently made some significant announcements regarding the leadership of its Grey Cement business. Firstly, Rajnish Kapur, the Chief Operating Officer (COO) of the Grey Cement business, will be retiring on 30th September 2023. Secondly, the company has appointed Anuj Khandelwal as the new Business Head for Grey Cement, effective from 16th October 2023. Anuj will directly report to the CEO of JK Cement, Madhavkrishna Singhania.
Anuj Khandelwal comes to JK Cement from Boston Consulting Group, where he served as a Managing Director and Partner. With over 20 years of experience and a vast knowledge of the building materials industry, he is well-equipped to lead the Grey Cement business at JK Cement.
Jindal Steel & Power’s Gare Palma IV/6 Coal Mine starts production
To fuel JSP’s proposed 6 MTPA Chhattisgarh Steel Plant Expansion
- JSP’s Gare Palma IV/6 coal mine is now operational and has commenced coal supply to the Raigarh steel plant.
- This coal mine will play a pivotal role in JSP’s proposed 6 MTPA Raigarh steel plant expansion project.
Jindal Steel & Power is delighted to announce the successful commencement of production at the Gare Palma IV/6 coal mine, strategically positioned in Chhattisgarh. This significant development marks a vital milestone in JSP’s continued journey in advancing its raw material security. This mine will also support the proposed expansion of its Raigarh integrated steel plant to a capacity of 9.6 Million tons per annum (MTPA) from the existing 3.6 MTPA.
General Insurance Appointed Mr. N. Ramaswamy, Chairman-cum Managing Director
Mr. Ramaswamy Narayanan started his career as a direct recruit officer in GIC in 1988 and has since then worked in various functions within the company. He has extensive experience in the reinsurance function and has handled all the non-life classes, including Fire, Engineering, Miscellaneous, Motor, Liability, Aviation, Marine, and Agriculture across different territories around the world.
In the Indian insurance market, he has faced many challenges in the fast-changing non-tariffed portfolio, which included leading and quoting for many treaties and providing unique solutions to clients to protect their portfolio and provide capital relief.
During his four and a half years as CEO of GIC, UK, he was responsible for handling the operations of the branch, the newly established Lloyds syndicate of GIC (GIC 1947), and the Corporate Member of GIC.
Currently, he is responsible for managing the HR function, Office Services Department (OSD), and International Operations at GIC’s head office in Mumbai.
Tata Motors, Registered Total Sales 2,43,024 units Q2FY24
- Total CV Sales of 1,04,085 units, +4% YoY
- Total PV Sales of 1,38,939 units, -3% YoY
MH&ICV including trucks and buses: Domestic sales of MH&ICV in Sep 2023, was 18,577 units vs 14,062 units in Sep 2022; In Q2 FY24 it was 45,174 units, compared to 38,143 units in Q2 FY23. Domestic & International sales for MH&ICV in Sep 2023, was 19,199 units vs 4,736 units in Sep 2022; while in Q2 FY24 it stood at 46,845 units, vs 40,556 units in Q2 FY23.
Tata Motors Commercial Vehicles domestic sales stood at 99,178 in Q2 FY24, 6% higher than Q2 FY23. Our upgraded BS6 phase II product range continues to see good traction as our customers experience benefits of lower total cost of ownership, efficient powertrains, and enhanced value-additions. M&HCV segment saw a strong growth of 24% over Q2 of FY23, fuelled by continued government infrastructure push, robust replacement demand, and growth in core sectors, along with sustained growth from the e-commerce sector.
Iris Clothings inaugurates its Second Exclusive Brand Outlet in Kolkata
Iris Clothings Limited , a readymade garment company engaged in designing, manufacturing, branding, and selling garments for kids wear, successfully opened its second Exclusive Brand Outlet (EBO) in Star Mall, Kolkata.
This is in continuation to the First EBO that was opened in Howrah in September and Company’s expansion strategy that was shared with the market in August. As mentioned earlier, Iris aims to open three to five company owned EBOs in Tier 1 cities in FY24 and eventually, open more stores through the franchise