State-run Bhel will be watched as Life Insurance Corporation of India bought 11.41 crore shares, or 4.66% equity, of the company at Rs 165.55 per share through a bulk deal from the Government of India. The bulk deal was struck on BSE on Monday, 3 March 2014.
Maruti Suzuki India will be watched after the Reserve Bank of India (RBI) notified on Monday, 3 March 2014, that the foreign share holding in Maruti Suzuki India by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) has reached the trigger limit of 22%. Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI. As on 31 December 2013, FIIs held 21.47% stake in Maruti Suzuki India.
State Bank of India (SBI) said its board has declared an interim dividend of Rs 15 per equity share for the financial year ending March 2014. The date of payment of the interim dividend is fixed as 2 April 2014 and the dividend warrants will be payable, in India, at par at all branches of SBI, irrespective of the amount.
Hero MotoCorp (HMCL) after market hours on Monday, 3 March 2014 reported yet another month of over five-lakh unit sales. Hero MotoCorp despatched 5.04 lakh units of two-wheelers in the month of February 2014, higher than 5.01 lakh units in February 2013.
Mr. Anil Dua, Sr. Vice President (Marketing & Sales), HMCL, said: "We have been consistently selling over five lakh units every month, and this is clearly indicative of the inherent market demand that exists for our products. There has been an excise duty cut in the month of February and we have passed on the benefit to our customers. We are hopeful that this price cut will give a fillip to the industry and further boost demand of our products. The recent Auto Expo where we showcased over a dozen new products and concepts also seems to have strengthened the market sentiment. We plan to create further excitement in the market with as many as four models -- the newer versions of Pleasure, Xtreme, Karizma and ZMR -- ready to roll out later this month".
In keeping with its stated objective of reaching 50 global markets by 2020, Hero MotoCorp launched its operations in Turkey in partnership with Asya Makina, a part of the diversified Soysal Group. The company has started its operations in this strategic market with as many as 50 outlets spread across the country.
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At the recent Auto Expo -- the Motor Show in Delhi, Hero MotoCorp showcased over a dozen models including the concepts -- the 150cc diesel two-wheeler RNT, electric motorcycle SimplEcity, 'iON' and the 620cc Hastur. It also unveiled a bouquet of exciting new scooters -- 150cc 'ZIR' in two variants, 125cc 'DARE' and the 110cc scooter 'DASH'.
Ashok Leyland's total sales fell 21% to 7,915 units in February 2014 over February 2013. Total sales of medium and heavy commercial vehicles (M&HCV) fell 21% to 5,576 units in February 2014 over February 2013. Total sales of light commercial vehicles (LCV) fell 22% to 2,339 units in February 2014 over February 2013. The announcement was made after market hours on Monday, 3 March 2014.
The company's total sales rose 0.87% to 7,915 units in February 2014 over January 2014. Total sales of M&HCV rose 0.83% to 5,576 units. Total sales of LCV rose 0.95% to 2,339 units in February 2014 over January 2014.
DLF clarified that on Monday, 3 March 2014, evening a television news channel aired a story raising certain allegations related to a parcel of land owned by a subsidiary of the Company, Edward Keventer (Successors) (EKSPL). The company completely and vehemently denies these allegations. The allegations made are completely at variance with the facts, are false and baseless. It is unfortunate that the story was aired without the channel contacting the Company to ascertain the true facts, DLF said in a statement.
EKSPL was acquired by the company in a private transaction over a decade ago. The requisite approvals have been sought pursuant to court directions obtained after protracted litigation and by strictly following due process in this regard. The company wishes to reiterate that it conducts its business in strict compliance with all the applicable laws of the land, DLF said.
Hindustan Construction Company (HCC), in joint venture with GVPR Engineers (GVPR), has been awarded a contract for diversion of flood water from Sakleshpura (West) to Kolar / Chikkaballapur (East) under Yettinahole Diversion Project-Package-4 from Karnataka Neeravari Nigam. The value of the contract is Rs 903.83 crore. The company's share in the total value of the contract is 50% i.e. Rs. 451.92 crore. The project will be completed in 36 months.
Power Grid Corporation of India turns ex-dividend today, 4 March 2014, for interim dividend of Rs 1.27 per share for the year ending 31 March 2014.
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