Public sector oil marketing companies (PSU OMCs) increased the price of petrol by 75 paise a litre and diesel by 50 paise a litre as global crude prices went up and the rupee value fell. The hikes, effective midnight Friday, 3 January 2014, are excluding local sales tax or VAT and actual increase will be higher and vary from city to city.
Tata Motors will be watched after Jaguar Land Rover North America US sales for both brands - Jaguar and Land Rover rose 17% to 7,308 units in December 2013 over December 2012. Jaguar sales rose 47% to 1,544 units in December 2013 over December 2012. Land Rover sales rose 11% to 5,764 units in December 2013 over December 2012.
"The combination of a strong luxury market and a dramatic increase in consumer interest in both of our brands has led Jaguar Land Rover's U.S. business to outpace the general market with a 20 percent full year increase," said Joe Eberhardt, President, Jaguar Land Rover North America. "The Jaguar brand has been one of the fastest growing brands driven by multiple products enhancements and the addition of the award-winning F-TYPE convertible. Land Rover has its best sales year in its U.S. history with the next generation Range Rover and Range Rover Sport SUVs establishing new benchmarks for luxury and capability. Congratulations to all of Jaguar Land Rover's U.S. retailers and employees for a fantastic achievement in 2013."
TCS announced that it is setting up the world's largest corporate learning and development center with a total capacity to train 15,000 professionals at one time and 50,000 professionals annually. The proposed TCS Learning Campus in Thiruvananthapuram will be located on a 97-acre property in the Technopark area of the city. The campus will be built over an area of 6.1 million square feet and feature residential accommodation for professionals and faculty at the center, the company said in a statement.
N Chandrasekaran, Chief Executive Officer and Managing Director, TCS, said, "TCS has been present in Thiruvananthapuram since 1997 and since then it has been the hub of our global learning and development efforts. The TCS Learning Campus will be the new benchmark for corporate learning worldwide and this iconic facility will produce world class professionals to meet the future needs of the IT industry."
"We are grateful to the Kerala government officials and other stakeholders whose energy and commitment has helped make this project a reality today," he added.
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Infosys announced that it has appointed Mr. B. G. Srinivas and Mr. U. B. Pravin Rao as Presidents of the Company, reporting to Mr. S. D. Shibulal, Chief Executive Officer & Managing Director. These appointments are effective immediately.
The business portfolios will be realigned under the two Presidents as set forth below. In addition, Mr. B. G. Srinivas will focus on global markets and Mr. U. B. Pravin Rao will focus on global delivery and service innovation.
Financial services, Insurance, Manufacturing, Engineering Services, Energy & Communications, Infosys Public Services, Infosys Lodestone, Strategic Global Sourcing, Marketing and Alliances will report to Mr. B. G. Srinivas.
Retail, Consumer Packaged Goods and Logistics, Life Sciences, Resources & Utilities, Services, Growth Markets, Cloud & Mobility, Quality & Productivity and Infosys Leadership Institute will report to Mr. U. B. Pravin Rao.
In view of these changes, the Executive Council, as a forum, will cease to exist with effect from 1 April 2014, Infosys said.
Mr. S. D. Shibulal, Chief Executive Officer & Managing Director said, These changes will further enhance our focus on deepening client relationships, increasing market share, creating service differentiation through innovation and agility in execution.
Sobha Developers after market hours on Friday, 3 January 2014 said that its sales volume declined 17.77% at 0.74 million square feet (msf) in Q3 December 2013 over Q3 December 2012. Sales value declined 5.83% at Rs 502.30 crore in Q3 December 2013 over Q3 December 2012. Average price realization rose 14.82% at Rs 6,786 per square feet in Q3 December 2013 over Q3 December 2012.
During the quarter (Q3 December 2013), the company has launched Elan (a joint development residential project with Lakshmi Machine Works) in Coimbatore having a total saleable area of 0.32 msf and Sobha Estate (plotted development) in Mysore having a total saleable area of 0.13 msf. Both the new launches have generated a positive response from the customers, Sobha said in a statement.
Sobha said that it remains upbeat about the company's key South Indian markets despite a lower sales volume during the quarter. The company also anticipates an uptick in the sales momentum in the coming quarters due to proposed new launches across its existing markets.
Sobha had at the beginning of the fiscal set a guidance of new sales area of 4.20 msf valued at Rs 2600 crore for the current fiscal (FY 2014). At the close of three quarters of FY 2014, the company has registered new sales area of 2.66 msf valued at Rs 1737 crore. While the company is able to maintain better sales realizations and generated consistent operational cash flows, it remains cautious about achieving its guidance set for the current fiscal, Sobha said in a statement.
Multi Commodity Exchange of India (MCX) after market hours on Friday, 3 January 2014 in a clarification to the BSE in the matter pertaining to the media news titled "UCX eyes FTIL's stake in MCX" said that the company has already updated/informed the exchange, vide letter dated 26 December 2013, the outcome of board meeting of that date.
MCX said that the company, being a regulated entity by the Forward Markets Commission (FMC), any acquisition in excess of 2% or more of the paid-up equity capital of MCX has to satisfy the criteria of "fit and proper person" for becoming a share holder of the company as prescribed under the guidelines issued by the Government of India (GoI) for capital structure of commodity exchanges post 5-years of operation. This requirement is in addition to other applicable laws, MCX said.
MCX further said that as a policy of the company, it will not like to comment on any intent/rumors which are speculative in nature. Hence, it refrains from commenting on the said news articles. MCX added that it is not aware of any such developments.
MCX added that as a responsible corporate, the company will at all times adhere to the compliance requirement in terms of the Listing Agreement in the larger interest of the shareholders and as best corporate governance practices.
Canara Bank after market hours on Friday, 3 January 2014 said that it has successfully raised Rs 1500 crore under BASEL-III complaint Tier-II Bonds.
MOIL after market hours on Friday, 3 January 2014 said that in line with company's business practice of quarterly revising the prices of manganese ore, the company has fixed price of various grades of manganese ore for the quarter January-March 2014. The price of the ferro grade manganese ore has been increased by 3% and price of SMAGR & Fines have been increased by 7.5% over the prices for October-December 2013. The prices of electrolytic manganese dioxide (EMD) have been increased by 5% over the prices for October-December 2013.
Indiabulls Power after market hours on Friday, 3 January 2014 said that the Rating Committee of Credit Analysis & Research (CARE), has after a review of the operational and financial performance of the company, reaffirmed the CARE BBB (Triple B) rating to the long term bank facilities of the company.
The Rating Committee of CARE has also reaffirmed the CARE BBB (Triple B) rating to the long term bank facilities of Indiabulls Realtech (IRL), a wholly owned subsidiary of the company, after a review of the operational and financial performance of IRL, Indiabulls Power said.
Rushil Decor after market hours on Friday, 3 January 2014 said that its board of directors will meet on 10 January 2014, inter alia, to discuss and decide about the sell, lease or otherwise dispose of the Navalgadh Particle Board Manufacturing Unit and finalise the necessary formalities through postal ballot process.
India Infoline (IIFL) after market hours on Friday, 3 January 2014 said that its subsidiaries namely India Infoline Distribution Company (IIDCL) and IIFL Investment Adviser and Trustee Services (IIATSL) have received approvals from Sebi to undertake Investment Advisory Services.
Commenting on this, Mr. R Venkataraman, Managing Director, IIFL said, "We are delighted to receive the approval from Sebi to act as Investment Advisers. IIFL believes that going forward, the advisory services platform poses enormous opportunities for servicing our large client base in the new regulatory framework."
As per the Group restructuring process already underway, IIFL's 'Financial Services Undertaking' comprising braking, DP, PMS, investment banking, distribution and related business is under the process of transfer to IIDCL through a Court and regulatory approvals, which is in its final stage and upon its expected completion within this financial year, will enable total segregation of the Financial Services business of IIFL into IIDCL. The appointed date for the transfer is 1 April 2013, IIFL said in a statement.
Mastek after market hours on Friday, 3 January 2014 said that its board of directors will meet on 8 January 2014 to consider a proposal of buyback of equity shares of the company.
HeidelbergCement India after market hours on Friday, 3 January 2014 said that it has on 3 January 2014, completed the sale and transfer of its cement grinding facility at Raigad, Maharashtra to JSW Steel, as a going concern on slump sale basis in accordance with business transfer agreement (BTA) executed between the company and JSW Steel on 5 October 2013. The aforesaid sale and transfer will take effect from the end of business hours on Friday, 3 January 2014, the company said.
Four Soft after market hours on Friday, 3 January 2014 said that its board of directors will meet on 8 January 2014, inter alia, to consider proposal of Merger of Paired Media and Entertainment and Pal Premium Online Media with Paired Technologies (formerly known as Four Soft). The Board also will consider the proposal for acquisition of Deals15.com from Premium Web Services.
Coromandel Engineering Company after market hours on Friday, 3 January 2014 said that the rights issue committee of the board of directors of the company at their meeting held on Friday, 3 January 2014, has approved the rights issue of equity shares at Rs 20 per rights equity share (including premium of Rs 10 per right equity share) in the ratio of 91 equity shares for every 10 equity shares held as on 15 January 2014, the record date.
Polygenta Technologies after market hours on Friday, 3 January 2014 said that 2.20 crore compulsory convertible preference shares (CCPS) held by PerPETual Global Technologies, the promoters were converted into equal number of equity shares on 2 January 2014 on the expiry of 18 months from the date of allotment (i.e. 3 July 2012) of CCPS.
Future Lifestyle Fashions after market hours on Friday, 3 January 2014 said that the company has made investment to acquire 27.5% stake in Resource World Exim, a company engaged in indo-fusion women's fashion apparel business under the brand "Desi Belle" in India.
SML Isuzu after market hours on Friday, 3 January 2014 said that the company's total vehicle sales declined 42.68% at 678 units in December 2013 over December 2012.
Ind-Swift at the fag end of trading hours on Friday, 3 January 2014 said that the sub committee of the board of directors of the company in its meeting held on Friday, 3 January 2014 has approved the allotment of 41.68 lakh equity shares at Rs 17.50 per share to promoters & promoters group on preferential basis as per the resolution passed by the shareholders of the company at the annual general meeting held on 30 September 2013.
Wheels India turns ex-dividend today, 6 January 2014, for interim dividend of Rs 4 per share for the year ending 31 March 2014.
Lanco Infratech after market hours on Friday, 3 January 2014 said that The Appellate Tribunal for Electricity (APTEL) has passed its order in the matter of tariff determination for the second unit of Lanco Amarkantak Power Project in Korba district, Chhattisgarh.
As per the APTEL order, Amarkantak unit 2 shall be paid regulated tariff based on the actual capital cost of the project. This would result in sustainable and profitable operation of the project at full capacity, Lanco Infratech said in a statement.
Lakshmi Vilas Bank's board of directors at a meeting held on Friday, 3 January 2014, approved to issue and allot equity shares of the bank for an amount aggregating up to Rs 650 crore to the equity shareholders of the bank on a rights basis at such price as may be determined by the Board or a Committee thereof.
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