Hero MotoCorp will be watched after US-based private equity firm Bain Capital on Friday, 13 June 2014, sold 56.18 lakh shares of Hero MotoCorp via bulk deals on BSE and NSE. Bain Capital through its arm BC India Private Investors II sold 24.09 lakh shares of Hero MotoCorp at an average price of Rs 2,636.15 per share on BSE. BC India Private Investors II sold 32.08 lakh shares of the two-wheeler major at an average price of Rs 2,636.76 per share on NSE. Goldman Sachs Singapore Pte bought 10.45 lakh shares of Hero MotoCorp at an average price of Rs 2,635.59 per share on NSE on that day, the bulk deals data showed.
Tata Consultancy Services (TCS) on Friday, 13 June 2014, said that the appreciation of the rupee against the dollar will adversely impact the company's EBIT margin by about 100 basis points in Q1 June 2014. This is based on the rupee movement so far during the quarter and these estimates could change depending on the rupee movement in June. TCS also said that annual salary increments will adversely impact profit margin in Q1 June 2014 which is in line with and proportionate to impact seen in earlier years. TCS also said that other income in Q1 June 2014 will be in line with expectations.
TCS also said that there will be one-time additional depreciation charge of about 2% of fixed assets in financial results as per International Financial Reporting Standards (IFRS) due to a change in depreciation policy. There will be a write back of depreciation of 4% to 5% of fixed assets in consolidated results as per Indian accounting standards due to the change in depreciation policy.
TCS said that there is no change in revenue outlook issued at conference call held after announcing Q4 March 2014 results in April 2014. The TCS management had at that time said that the company was upbeat that the next 12 months will bring many more opportunities for growth across multiple industries and markets.
Idea Cellular will be watched after the Reserve Bank of India on Friday, 13 June 2014, notified that foreign institutional investors (FIIs), through primary market and stock exchanges, can now purchase up to 49% of the paid up capital of Idea Cellular under the portfolio investment scheme (PIS). The FII investment ceiling in the company's shares has been raised from earlier 24% after the company's board of director and shareholders approved the proposal for raising FII investment ceiling, the RBI said. Total holding of FIIs in Idea Cellular stood at 21.57% as per the shareholding pattern as on 11 June 2014.
DLF after market hours on Friday, 13 June 2014 said that DLF Promenad, a subsidiary of the company has successfully placed the commercial mortgage backed security (CMBS) issuance of Rs 375 crore, with a competitive coupon rate of 10.90% per annum and legal maturity of 7.5 years. DLF Promenade owns and operates approximately 4.5 lakh sq. ft luxury mall in New Delhi. The CMBS issue is rated CRISIL AA (SO). This is a 2nd issuance from DLF Group. Commenting on the issuance, Mr. Saurabh Chawla Executive Director - Finance said- This completes the Phase I of such issuances. We shall continue to explore more such transactions in the future.
Future Lifestyle Fashions after market hours on Friday, 13 June 2014 said that duly authorized Committee of Directors, at its meeting held on 13 June 2014, has made allotment of 1.55 crore equity shares of Rs 2 each at a premium of Rs 78.50 per share to PI Opportunities Fund-I, a SEBI registered venture capital fund, on preferential basis.
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3i Infotech after market hours on Friday, 13 June 2014 said that the company has allotted 36.93 lakh equity shares on 13 June 2014 against conversion of the FCCBs of principal amount of USD 1200,000.
With reference to the earlier announcement dated 13 June 2014 regarding allotment of 99.72 lakh equity shares to the shareholders of Sriyam Impex pursuant to the scheme of arrangement between Ester Industries and Sriyam Impex and their respective shareholders, creditors and all concerned, Ester Industries said that the total equity shares aggregated to 1.02 crore as held by Sriyam Impex has been cancelled pursuant to the said scheme of arrangement.
Orbit Exports after market hours on Friday, 13 June 2014 said that its board of directors will meet on 18 June 2014, inter alia, to allot 4.50 lakh equity shares of Rs 10 each at an issue price of Rs 76.57 per share (including Premium at Rs 66.57 per share) to the holders holding 4.50 lakh optionally fully convertible warrants (OFCWs) of Rs 76.57 each in aggregate upon exercise of option to convert each OFCWs into equity share of the company.
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