Shares of three PSU OMCs will be watched as diesel prices were on Monday, 12 May 2014, hiked by Rs 1.09 a litre, excluding state levies.
Even after the proposed price increase, diesel (Retail) shall still be left with an under-recovery of Rs 5.71 per litre (based on pricing cycle applicable for 1st fortnight of May 2014), Indian Oil Corporation (IOC) said in a statement.
PSU OMCs suffer under-recovery on domestic sales of diesel, kerosene and LPG at government controlled prices. In January 2013, the government allowed PSU OMCs to raise diesel prices in small measures at regular intervals. The government has already freed pricing of petrol.
Tata Motors-owned Jaguar Land Rover (JLR) reported 30% increase in global sales at 37,171 units in April 2014 over April 2013. In April 2014, JLR reported sales increases in all of its key regions as follows: the China Region up 72%, Europe up 27%, Asia Pacific up 25%, the UK up 24%, North America up 19% and other overseas markets up 3%.
Commenting on the April performance Andy Goss, JLR Group Sales Operations Director said: "April sales continue the positive momentum we saw in the first quarter of 2014. Alongside the F-TYPE, all three Range Rover models delivered record April sales performances reflecting the global appeal of our strongest ever vehicle line up."
On a consolidated basis, Torrent Power's net profit surged 697.89% to Rs 177.45 crore on 12.43% increase in total income to Rs 2283.03 crore in Q4 March 2014 over Q4 March 2013.
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On a consolidated basis, Coromandel International's net profit surged 592.63% to Rs 80.83 crore on 5.15% increase in total income to Rs 2202.95 crore in Q4 March 2014 over Q4 March 2013.
Dr. Reddy's Laboratories, Punjab National Bank, Bank of Baroda, Bank of Maharashtra, Tata Coffee, Tata Communications, Castrol India, Gujarat State Fertilizers Company, IIFL, IL&FS Transportation Networks and BF Utilities, among others, will announce their January-March 2014 earnings today, 13 May 2014.
Power Grid Corporation of India (PGCIL), pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired NRSS XXXI (A) TRANSMISSION, the Special Purpose Vehicle on 12 May. 2014 from REC Transmission Projects Company (the Bid Process Cordinator), to establish the transmission system for Northern Region System Strengthening Scheme, NRSS-XXXI (PART-A) on build-own-operate and maintain (BOOM) basis.
The elements to be implemented under the NRSS )00(1 (PART-A) are 4001220kV Gas Insulated Sub-station (GIS) at Kala Amb (Himachal Pradesh), LILO of both circuits of Karcham Wangtoo Abdullapur 400 kV D/C Quad line at Kala Amb. and 40% Series Compensation on 400 kV Karcham Wangtoo Kala Amb D/C Quad line at Kala Amb, PGCIL said in a statement.
NHPC said that an agreement was signed between NHPC and Kerala State Electricity Board on 8 May 2014 at Thiruvanthapuram for the development of Solar Power Projects in the state of Kerala. As per this agreement NHPC shall in the first phase take up implementation of 50 MW grid linked solar power project at West Kallada Panchayat in Kollam District.
Finolex Industries' net profit fell 29.18% to Rs 56.19 crore on 33.51% increase in net sales to Rs 833.32 crore in Q4 March 2014 over Q4 March 2013.
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