Hero Cycles Limited may well be looking to scoop up the struggling operations of Atlas Cycles (Haryana) Limited (BSE:505029). Atlas Cycles had recently shut its last manufacturing unit in the country, citing lack of funds. The situation may soon change with Hero Cycles, run by the Munjal family, developing interest in the business. Pankaj Munjal, Chairman of Hero Cycles, "the country's biggest cycle company that has a 43% market share has initiated talks with promoters of the Atlas brand after the latter stopped production”. “Hero is aggressively looking at buying brands globally, and we are a zero net-debt company with cash reserves of over INR 10.00 billion. If anyone wants to sell, we are open. We need to buy brands,” Munjal told TOI. Asked about Atlas, he said, “We are looking at it. Nothing concrete has been firmed up as yet”.