TaMo’s group global wholesales fall 64%

MUMBAI: Tata Motors reported a 64% decline in group global wholesales, including that of Jaguar Land Rover (JLR) to 91,594 in June quarter of the current financial year over year-ago.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q1FY21 were at 11,598 units, lower by 89% over Q1FY20, Tata Motors said.

Global wholesales of all passenger vehicles in June quarter of the current fiscal dropped 49% to 79,996 units over the same quarter of the previous fiscal, it said.

Global sales of JLR stood at 65,425 vehicles in the June quarter, it said adding that Jaguar wholesale units during the period were 17,971 vehicles, while Land Rover wholesales for the quarter were 47,454 vehicles.

The company did not provide comparative figures of the year-ago period.

NEW DELHI: Franklin Templeton Mutual Fund said it has received a payment of Rs 1,252 crore from Vodafone Idea Ltd, which will be distributed among investors of the segregated portfolios.

There are six schemes -Franklin India Ultra Short Bond Fund, Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund, and Franklin India Income Opportunities Fund -- that had made investments in Vodafone Idea.

Franklin Templeton MF side-pocketed its exposure in the telecom player and from January 24, various securities issued by Vodafone Idea in the schemes were segregated from the total portfolio.

Creation of segregated portfolios is a mechanism to separate distressed, illiquid and hard-to-value assets from other more liquid assets in a portfolio.

"We wish to inform that further to the annual interest payment received on June 12, 2020, for the security '8.25 per cent Vodafone Idea Ltd (July 10, 2020)' held in the ... segregated portfolios, we have now received the full value of the principal due, along with interest for the period June 12 to July 9, 2020," it said.

A total of Rs 1,252.44 crore has been received, which will be distributed to unit holders of the segregated portfolio, it added.