Shares of public sector oil marketing companies (PSU OMCs) will be watched after PSU OMCs hiked petrol price by Rs 2.35 per litre on falling rupee and firming international oil prices. The fuel price hike, which was effective from midnight of 31 August 2013, excludes local sales tax or VAT. Petrol price in Delhi has increased by Rs 2.83 to Rs 74.10 per litre. This is the sixth increase in rates since June. In a parallel move, diesel price was hiked by 50 paise, excluding VAT, in line with the January decision of the government allowing oil companies freedom to raise prices in small doses every month to wipe out mounting losses. Diesel price in Delhi has been hiked by 57 paise to Rs 51.97 per litre.
Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles fell 30.93% to 49,611 units in August 2013 over in August 2012. Total domestic sales fell 33.71% to 44,717 units in August 2013 over in August 2012. The company's sales from exports jumped 11.91% to 4,894 units in August 2013 over in August 2012.
Mahindra & Mahindra's (M&M) total auto sales declined 17% to 37,897 units in August 2013 over August 2012. The company announced the auto sales on Sunday, 1 September 2013. M&M's sales of Passenger Vehicles segment (which includes the UVs and Verito) declined 28% to 15,821 units in August 2013 over August 2012. The company's domestic sales declined 18% to 35,159 units in August 2013 over August 2012. The sale of four-wheeler commercial segment which includes passenger and load vehicles fell 4% to 13,718 units while that of three-wheelers declined 14% to 5,149 units in August 2013 over August 2012. Exports declined 9% to 2,738 units in August 2013 over August 2012.
Hindalco Industries after market hours on Friday, 30 August 2013, said that 2.88 crore warrants issued to promoter group company have transferred to other promoter group companies. Earlier, Hindalco had on 22 March 2012 allotted 15 crore warrants on preferential basis to promoter group companies. The warrant holder is entitled to apply for and be allotted one equity share at Rs 144.35 per share. Post transfer of 2.88 crore warrants, the final position of 15 crore warrants stood at ICH Holdings with 12.10 crore warrants, Turquoise Investments and Finance with 2.50 crore warrants, TGS Investment and Trade with 39 lakh warrants and Umang Commercial Company has 1 lakh warrants.
Power Grid Corporation of India (PGCIL) after market hours on Friday, 30 August 2013 said that pursuant to its selection as the successful bidder under Tariff based competitive bidding, the company has acquired Vizag Transmission (VIZAG TL), the special purpose vehicle (SPV) to establish the transmission system for system strengthening in Southern Region for import of power from Eastern Region on build, own operate and maintain (BOOM) basis on 30 August 2013 from REC Transmission Projects Company (the Bid Process Cordinator).
The Great Eastern Shipping Company after market hours on Friday, 30 August 2013 said that Greatship Global Energy Services Pte. (GGES), a Singapore incorporated step down subsidiary of the company, has informed the company about being advised of the "Striking of Steel" on 4 September 2013 of its Mobile Offshore Self Elevating Drilling Rig, at a globally reputed yard. The Rig is a state of the art cyber rig, and will be built with the latest technology, equipments and systems. The Rig will be due for delivery in Calendar 2015. Great Eastern Shipping and its subsidiaries currently own and/or operate four PSVs, nine AHTSVs, two MPSSVs, six ROVSVs and three Jack up rigs.
Halonix after market hours on Friday, 30 August 2013 said that the company on 30 August 2013 has concluded the transaction of sale and transfer of the General Lighting Business to its subsidiary Halonix Technologies and sale and transfer of its entire shareholding in Halonix Technologies to Argon India and Argon South Asia.
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Halonix said that the sale and transfer of the General Lighting Business has taken place at an Enterprise Value (EV) of Rs 160 crore. The EV is in accordance with the shareholder approval received through postal ballot results declared on 6 June 2013 and is subject to customary adjustments in accordance with the agreements to determine the net consideration payable, the company said. The consideration for sale of shareholding in Halonix Technologies, held by Halonix has been paid by Argon India and Argon South Asia on the basis above, Halonix said. At the conclusion of the transaction on 30 August 2013, Halonix Technologies will discharge its obligations to Halonix as per the Business Transfer Agreement, the company said in a statement. Halonix said that the company continues to be on the growth track and the strategy to consolidate and rationalize all its core operations are showing encouraging results.
Energy Development Company after market hours on Friday, 30 August 2013 said that the one of the wholly owned subsidiary of the company, namely, Ayyappa Hydro Power, has successfully synchronized with the grid on 29 August 2013, its unit II of 3 x 5 MW Karikkayam Hydro Electric Project situated in Kerala.
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