Shares of banks, automobiles manufacturers and real estate firms will be in focus as the Reserve bank of India (RBI) will announce its first quarter review of Monetary Policy 2013-14 today, 30 July 2013. RBI recently announced several measures to tighten liquidity in the banking system to arrest slide in rupee against the dollar.
Tata Motors turns ex-dividend today, 30 July 2013, for dividend of Rs 2 per share for the year ended 31 March 2013 (FY 2013).
ACC turns ex-dividend today, 30 July 2013, for interim dividend of Rs 11 per share for the year ending 31 December 2013.
Ambuja Cements turns ex-dividend today, 30 July 2013, for interim dividend of Rs 1.40 per share for the year ending 31 December 2013.
Adani Enterprises turns ex-dividend today, 30 July 2013, for dividend of Rs 1.40 per share for the year ended 31 March 2013 (FY 2013).
Adani Ports and Special Economic Zone (APSEZ) turns ex-dividend today, 30 July 2013, for final dividend of Re 1 per share for the year ended 31 March 2013 (FY 2013).
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DLF turns ex-dividend today, 30 July 2013, for dividend of Rs 2 per share for the year ended 31 March 2013 (FY 2013).
Air carrier Jet Airways (India) will be in focus after India's Foreign Investment Promotion Board (FIPB) reportedly allowed Jet Airways (India) to sell 24% stake in itself to Etihad Airways. The proposal will now be forwarded to the Cabinet Committee on Economic Affairs, headed by Prime Minister Manmohan Singh, for final approval. According to reports, the FIPB approved the deal with conditions.
Bayer CropScience, Carborundum Universal, Delta Corp, Dr. Reddy's Laboratories, EID Parry (India), Financial Technologies (India), Gujarat Mineral Development Corporation (GMDC), Gujarat Pipavav Port, Havells India, HMT, IFCI, Indoco Remedies, IPCA Laboratories, Jindal Steel & Power, NTPC, Orissa Minerals Development Company, Pantaloons Fashion & Retail, Petronet LNG, Phoenix Mills, Reliance Infrastructure, Reliance Power, Shoppers Stop, Shree Cement, SJVN, Sun Pharma Advanced Research Company, Swaraj Engines, Taj GVK Hotels & Resorts, Tata Metaliks, Thomas Cook, Trent, Usha Martin, VST Industries, Wyeth, Zee News and Zuari Global will unveil April-June 2013 results today, 30 July 2013.
Sesa Goa after market hours on Monday, 29 July 2013, reported 57.05% fall in net profit to Rs 414 crore on 78.18% fall in net sales/income from operations to Rs 378 crore in Q1 June 2013 over Q1 June 2012. The sharp decline in net profit was due to suspension of iron ore operations at the company's mines in Goa and Karnataka.
The company said its Karnataka mine has received clearance from the Supreme Court, and the company is now awaiting final statutory clearances in order to restart mining at the unit. The company expects to resume mining at Karnataka in Q2 September 2013, it said.
Regarding the suspension of mining in Goa, the date for hearing is yet to be fixed by the Supreme Court. Earlier, the Goa state government and major miners, including Sesa Goa, had filed their responses to the report submitted by the Central Empowered Committee. Separately, Sesa has filed an application to the Supreme Court for a modification or vacation of the court's existing order on the suspension of mining and restrictions on ore transportation.
The company said that exploration activities are progressing well at its Liberia iron ore project, with 91,500 meters of drilling completed till 30 June 2013 across the three deposits viz. Bomi, Bea and Mano River. The company said that the first phase of 2 million tonnes per annum is likely to be completed by December 2014, and that the company remains on track to deliver the first shipment by March 2014.
The company said proposed merger of Sterlite Industries (India) and Sesa Goa and Vedanta Group consolidation has received the approval of the High Court of Madras on 25 July 2013 and the approval of the High Court of Bombay at Goa on 3 April 2013. One of the shareholders of Sesa Goa has filed an appeal against the order passed by the High Court of Bombay at Goa before the Division Bench of the same court. The hearings before the Division Bench have been completed and the order is awaited.
Prestige Estates Projects' net profit jumped 75.85% to Rs 86.66 crore on 114.85% growth in total income to Rs 529.31 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Monday, 29 July 2013.
City Union Bank's net profit rose 22.19% to Rs 90.28 crore on 24.85% growth in total income to Rs 707.82 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Monday, 29 July 2013. City Union Bank's ratio of net non-performing assets (NPA) to net advances stood at 0.63% as on 30 June 2013, same as on 31 March 2013 and increased from 0.5% as on 30 June 2012. The ratio of gross NPA to gross advances increased to 1.25% as on 30 June 2013, from 1.13% as on 31 March 2013 and 1.07% as on 30 June 2012. The bank's provisions and contingencies rose 15.59% to Rs 20.53 crore in Q1 June 2013 over Q1 June 2012. City Union Bank's capital adequacy ratio (CAR) as per Basel II norms stood at 13.21% as on 30 June 2013, as against 13.98% as on 31 March 2013 and 12.01% as on 30 June 2012.
Meanwhile, the board of City Union Bank has resolved to seek the approval of the shareholders to augment capital upto Rs 350 crore inclusive of premium through a process of qualified institutional placement (QIP).
Mahindra Lifespace Developers said that the foreign institutional investors (FIIs) holding in the company reached 28.88% of the paid-up equity capital (as on 26 July 2013).
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