Hero MotoCorp (HMCL) announced after market hours yesterday, 1 August 2016, that its total two-wheelers sales rose 9.13% to 5.32 lakh units in July 2016 over July 2015. In July 2016, HMCL commenced retail sales of Splendor iSmart 110 - the first motorcycle to have been completely designed and developed by its in-house R&D team at the state-of-the-art, world class Hero Centre of Innovation and Technology in Jaipur. The initial customer response to the new bike has been positive, the company said. With the above average monsoon and implementation of the seventh pay commission recommendations, the company remains cautiously optimistic about a positive turnaround in the industry in the second half of the year, HMCL said in a statement.
Tata Motors passenger and commercial vehicle sales (including exports) rose 7% to 43,160 vehicles in July 2016 over in July 2015. The company's domestic sales of Tata commercial and passenger vehicles rose 8% to 37,789 units in July 2016 over in July 2015. The company's sales from exports rose 6% to 5,371 units in July 2016 over in July 2015. The announcement was made after market hours yesterday, 1 August 2016.
Passenger car major Maruti Suzuki India (MSIL) announced an increase in prices of select models ranging from Rs 1,500 to Rs 5,000 ex-showroom Delhi with effect from 1 August 2016. In case of newly launched models like Vitara Brezza and Baleno, the prices are being increased by upto Rs 20,000 and upto Rs 10,000 respectively, MSIL said. This price revision is based on factors like segment wise demand, forex movements and strategic objectives of the company, MSIL said in a statement. The announcement was made after market hours yesterday, 1 August 2016.
NTPC announced that its board of directors at a meeting held on Friday, 29 July 2016, approved the issue of secured/unsecured, redeemable, taxable/ tax-free, cumulative/non-cumulative, non-convertible debentures (bonds/NCDs) upto Rs 15000 crore during the period commencing from the date of passing of Special Resolution in the Annual General Meeting (AGM), to be held on 20 September 2016, till completion of one year thereof or the date of next AGM in the financial year 2017-18 whichever is earlier. The announcement was made after market hours yesterday, 1 August 2016.
Separately, NTPC announced after market hours yesterday, 1 August 2016 that it has commissioned a 50 megawatts (MW) capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu on 29 July 2016. With this the installed capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu has become 250 MW and that of NTPC Group has become 47,228 MW.
Drug major Lupin announced before trading hours today, 2 August 2016, that its Japanese subsidiary Kyowa Pharmaceutical Industry Co., has entered into a strategic asset purchase agreement with Shionogi & Co., on 1 August 2016, to acquire 21 long-listed products from the Japanese pharma major, effective 1 December 2016, subject to certain closing conditions and regulatory approvals including the transfer of marketing authorization of the products to Kyowa.
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With the vision of growing globally as a drug discovery-based pharmaceutical company, Shionogi is focusing its resources on its core therapeutic and marketing areas, while continuing to create innovative medicines to support future growth and to strengthen its business operations. As a part of this growth strategy, Shionogi would transfer 21 long-listed products to Kyowa, the Japanese subsidiary of Lupin. Kyowa is amongst the top 10 Generic companies in Japan and a market leader in Central Nervous System (CNS) space well known for its "AMEL" brand, in addition to other generic pharmaceutical products in its portfolio. With this acquisition, Kyowa will rank 6th amongst generic companies in Japan. The 21 products cover therapy areas such as Central Nervous System (CNS), Oncology, Cardiovascular and Antiinfectives. These 21 products had sales of 9, 400 million yen ($90 million) collectively on NHI price basis. Under the terms of this agreement, Kyowa will book the sales of the 21 prodcuts after 1 December 2016, and Shionogi will receive 15.4 billion yen from Kyowa.
On a consolidated basis, Tech Mahindra's net profit rose 20.5% to Rs 750 crore on 10% increase in revenue to Rs 6921 crore in Q1 June 2016 over Q1 June 2015. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 13.7% to Rs 1029 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 1 August 2016.
On a consolidated basis, Tata Communications' net profit fell 3.51% to Rs 41.78 crore on 3.42% decline in total income to Rs 5092.47 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 1 August 2016.
ACC turns ex-dividend today, 2 August 2016 for interim dividend of Rs 11 per share for the year ending 31 December 2016 (FY 2016).
Ambuja Cements turns ex-dividend today, 2 August 2016 for interim dividend of Rs 1.60 per share for the year ending 31 December 2016 (FY 2016).
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