JaguarlandRover posts 7 per cent sales increase in June
Tata Motors-owned Jaguar land Rover (JlR) on Thursday reported global sales of 33,739 units in June, a 7 per cent increase from the same month last year.
The company sold 6,574 Jaguar vehicles in June, a 34 per cent increase from a year earlier, JlR said in a statement.The jump in Jaguar sales was driven by various markets, including China, North America and Asia Pacific. However, Jaguar sales were 5 per cent lower in Europe. land Rover sales rose 2 per cent to 27,165 units in June from a year earlier, it added. land Rover sales were driven by various models, including Freelander 2 and Discovery 4, the company said.
Zuari hikes stake in UB Group's Mangalore Chem to nearly 16 %
In an intensifying two-way battle, Zuari Fertilisers on Thursday hiked its stake to nearly 16 per cent in UB group's Mangalore Chemicals & Fertilisers, where rival Deepak Fertilisers has picked up over 24 per cent equity.All the three companies compete with each other in the fertiliser business, but huge debt load of Vijay Mallya-led group has led to speculations about Mangalore Chemicals & Fertilisers (MCFl) being an apparent takeover target for rivals Zuari and Deepak Fertilisers.Officially, both Zuari and Deepak Fertilisers have so far stayed away from disclosing any plans for eventual takeover of MCFl, but have amassed significant stakes from open market.After acquiring 3.5 per cent stake in MCFl yesterday, Zuariagain bought 30 lakh shares, amounting to 2.52 per cent stake, of MCFl for about Rs 20 crore and hiked its cumulative stake to 15.77 per cent.