Ashok Leyland announced after market hours yesterday, 7 December 2015 that the company has started its regular operations at its Ennore manufacturing unit near Chennai from 7 December 2015. Earlier, the company had announced stoppage of production activity at its Ennore plant due to heavy rains/floods in Chennai. The company said that it will be able to assess the losses arising from heavy rains and floods only after an assessment is done by the insurance company.
TCS announced that IDFC Bank has gone operational with TCS BaNCS for core banking operations. IDFC Bank started operations on 1 October 2015, with operations powered by TCS BaNCS. TCS made the announcement after market hours yesterday, 7 December 2015.
Infosys after market hours yesterday, 7 December 2015, announced that it intends to create 250 new jobs in Ireland over the next three years. This includes 95 roles at a dedicated product-centric research and development centre which will be established by Infosys' subsidiary EdgeVerve Systems in Ireland.
Tata Motors' British luxury car unit Jaguar Land Rover (JLR) yesterday, 7 December 2015 reported 27% rise in retail sales to 46,547 vehicles in November 2015 over November 2014. Retail sales rose 70% in the UK, 68% in Europe, 52% in North America and 8% in November 2015 over November 2014 in other overseas markets. Retail volumes in China were down 22% in November 2015 over November 2014, reflecting slowdown in the economy, JLR said.
ITC announced after market hours yesterday, 7 December 2015 that Greenacre Holdings (GHL) has acquired 87.06% of the equity share capital of Classic Infrastructure & Development (CIDL), an associate of Russell Credit (RCL), at an aggregate consideration of Rs 11.38 crore. GHL is a wholly owned subsidiary of RCL, which is a wholly owned subsidiary of ITC. CIDL having become a wholly owned subsidiary of GHL and also of RCL, has also become a wholly owned subsidiary of ITC with effect from 7 December 2015.
CIDL is engaged in the business of property maintenance & management and its networth as on 31 March 2015 and profit after tax for the year ended on that date were Rs 8.44 crore and Rs. 20.16 lakh, respectively, ITC said.
Essar Oil after market hours yesterday, 7 December 2015 fixed floor price of Rs 146.05 per share to delist the company from stock exchanges. The reverse book building will be held between 15 December 2015 and 21 December 2015.
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Eicher Motors before market hours today, 8 December 2015 announced that it has resumed production of motorcycles at its Thiruvottiyur and Oragadam plants on 7 December 2015 which were shut down since 1 December 2015 due to heavy rains and flooding in Chennai. However, due to a high rate of absenteeism by the company's employees, and issues with its local suppliers, the company will be running at approximately 50% capacity this week, and plan to be back up to 100% capacity by next week, Eicher Motors said.
Prima facie, there is no damage to equipment or property and all employees are safe and secure, Eicher Motors said. The company have had production loss of 7,200 motorcycles due to the closure of both the manufacturing facilities between 1 December 2015 to 6 December 2015, Eicher Motors said. Many parts of the supply chain still continue to be affected due to the aftermath of floods, the company said. Due to the rains, the company lost production of 4,000 motorcycles in November 2015, it added.
Godawari Power and Ispat announced that the subsidiary company, Ardent Steel has temporarily suspended the operations at iron ore pellet plant in Orissa due to unfavourable market scenario in steel sector due to cheaper imports of finished steel. The company made the announcement after market hours yesterday, 7 December 2015. The fall in prices of finished product has resulted into decrease in operating margin below the cost of production. The company is monitoring the market conditions and looking for alternative ways to improve the profitability & revive the operations. The company will inform exchanges, as and when the operations are resumed, Godawari Power and Ispat added.
Chennai Petroleum Corporation (CPCL) announced that due to heavy rains and water logging in the refinery premises in Chennai, as a precautionary safety measure, the Manali Refinery of the company was shutdown effective from the night of 2 December 2015, and the Cauvery Basin Refinery at Nagapattinam was shutdown effective from the night of 6 December 2015. The company made the announcement after market hours yesterday, 7 December 2015.
The information could not be communicated to the stock exchanges earlier due to non-availability of communication system and water logging in the office and the abnormal situation arose due to natural calamity. The company will inform as and when the refinery operations in Manali and CBR are resumed.
Talwalkars Better Value Fitness announced that the board of directors of the company at its meeting held on 7 December 2015, has considered and approved allotment of 250 units of 10% secured, taxable, redeemable, non-convertible debentures of Rs 10 lakhs each aggregating to Rs 25 crore. The company made the announcement after market hours yesterday, 7 December 2015.
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