Hero MotoCorp said its motorcycle sales rose 1.32% to 5.49 lakh units in June 2016 over June 2015. The company said it reported sales growth of 6.07% to 17.45 lakh units in Q1 June 2016 over Q1 June 2015 in spite of subdued rural demand. The company said it will soon introduce Splendor iSmart 110 motorcycle in the market - the first motorcycle to have been completely developed by the in-house research and development (R&D) team at Hero MotoCorp. The company further added that with the implementation of the 7th Pay Commission and the forecast of the above-average monsoon, it is optimistic about a pick-up in sales momentum. The announcement was made after market hours on Friday, 1 July 2016.
Tata Motors said that its total passenger and commercial (including exports) rose 8% to 44,276 vehicles in June 2016 over June 2015. Domestic sales of Tata commercial and passenger vehicles rose 8% to 38,673 units in June 2016 over June 2015. Passenger vehicles sales in the domestic market grew 22% to 12,509 units in June 2016 over June 2015. Sales of passenger cars rose by 37% to 11,705 units in June 2016 over June 2015, as Tata Motors hatchback sales grew by over a 100% at 7,126 units in June 2016, due to strong demand for the recently launched Tiago.
Sales of Tata Motors Light Commercial Vehicles (LCVs) rose 14% to 16,017 units in June 2016 over June 2015. Medium & Heavy Commercial Vehicles (M&HCV) sales fell 11% to 10,147 units in June 2016 over June 2015. The overall commercial vehicles sales in the domestic market rose 2% to 26,164 units in June 2016 over June 2015. The company's sales from exports rose 11% to 5,603 units in June 2016 over June 2015. The announcement was made after market hours on Friday, 1 July 2016.
TVS Motor Company said its total sales rose 11% to 2.47 lakh units in June 2016 over June 2015. Total two-wheeler sales rose 13.8% to 2.39 lakh units in June 2016 over June 2015. Domestic two-wheeler sales rose 16.4% to 2.06 lakh units in June 2016 over June 2015. Scooter sales rose 10.3% to 67,539 lakh units in June 2016 over June 2015. Motorcycle sales rose 7.6% to 95,465 lakh units in June 2016 over June 2015. Three-wheeler sales fell 35.77% to 7,128 lakh units in June 2016 over June 2015. Total exports fell 9.09% to 39,112 lakh units in June 2016 over June 2015. Three-wheeler exports fell 0.18% to 33,173 lakh units in June 2016 over June 2015.
Coal India and its subsidiaries achieved 99% of targeted production at 42.72 million tonnes in June 2016. The company achieved 95% of targeted offtake at 44.96 million tonnes in June 2016. The announcement was made after market hours on Friday, 1 July 2016.
Shares of State Bank of India (SBI) and Reliance Industries (RIL) will be watched. SBI and RIL signed shareholders' agreement on 30 June 2016 for setting up payments bank. The subscription and shareholders' agreement was signed by RIL as promoter with a 70% equity contribution and SBI as joint venture partner with 30% equity contribution on 30 June 2016. All requisite regulatory and statutory approvals will now be sought for operationalizing the payments bank. The announcement was made after market hours on Friday, 1 July 2016.
Bosch announced after market hours on Friday, 1 July 2016, that its board has approved buyback of 8.78 lakh fully paid up equity shares, or 2.796% equity, of the company at Rs 23,000 per share. The buyback offer aggregates to Rs 2019.76 crore, representing 24.99% of the paid-up share capital and free reserves. The buyback is subject to approval of the shareholders through a postal ballot process. The board has noted the intention of Robert Bosch GmbH, promoter of the company, to participate in the buyback.
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Adani Ports and Special Economic Zone (APSEZ) announced on Saturday, 2 July 2016, that its board has accorded an in-principle approval for exploring the acquisition of TM Harbour Services. TM Harbour Services is engaged solely in providing tug services to The Dhamra Port Company (DPCL), a wholly owned subsidiary of APSEZ. The acquisition will help the company provide effective and efficient marine services to DPCL. The acquisition is subject to due diligence, final negotiations between the parties and obtaining of requisite regulatory approvals.
Wockhardt said it has given corporate guarantee to secure term loan of $250 million facility availed by Wockhardt Bio AG, a subsidiary of the company. The announcement was made after market hours on Friday, 1 July 2016.
Indian Hotels Company said that Samsara Properties, the company's indirect overseas wholly-owned subsidiary, has sold 51.75 lakh class 'A' common shares of the face value of $0.01 each of Belmond, representing 5.1% of the total outstanding class 'A' common shares for a net consideration of $49.57 million. The sale proceeds are being utilized largely for retirement of debt. Post the above sale, Samsara Properties continues to hold 0.44% of the class 'A' common shares of Belmond. The announcement was made after market hours on Friday, 1 July 2016.
Jaiprakash Associates announced on Saturday, 2 June 2016, that the joint lenders forum meeting held to review the progress made so far on the corrective action plan, approved by the lenders in January 2015, has agreed for invocation of strategic debt restructuring (SDR) taking 28 June 2016 as reference date, subject to approval of lenders. Further, the company has informed that a meeting of the board of directors of the company is scheduled on 4 July 2016, to review the progress of the divestment plans and other related matters.
Jubilant Industries said that considering the unfavourable market conditions, the management of the company's material unlisted subsidiary, Jubilant Agri and Consumer Products, has decided to temporarily discontinue the operations of its manufacturing facility located at Rajasthan with immediate effect till further intimation. The facility was engaged in the production of single super phosphate.
The revenue contributed by this manufacturing facility for the financial year ended 31 March 2016 was Rs 4.01 crore and its networth as on 31 March 2016 was Rs 50.43 crore, constituting 0.66% of the company's consolidated revenue and 22.22% of the company's consolidated net worth. The announcement was made after market hours on Friday, 1 July 2016.
Camlin Fine Sciences said that the qualified institutional placement (QIP) committee of the company has approved the closure of the QIP on 1 July 2016. The committee approved the issue price of Rs 85.40 per share, which is at a discount of Rs 4.49 per share, to the floor price of Rs 89.89 per share, for the equity shares to be allotted to eligible qualified institutional buyers pursuant to the QIP issue. The announcement was made after market hours on Friday, 1 July 2016.
Mahanagar Telephone Nigam (MTNL) said it has received income tax refund worth Rs 112.95 crore for the assessment year 2000-2001. The amount includes Rs 52.35 crore towards interest on refund. The announcement was made after market hours on Friday, 1 July 2016.
Snowman Logistics clarified after market hours on Friday, 1 July 2016, that investment in its proposed project at Krishnapatnam be approximately Rs 17 crore, which will be financed through internal accruals.
Earlier on 22 June 2016, the company had informed that it was setting up a new facility at the Gateway Distriparks Logistics Park in Krishnapatnam which will have a capacity of 3,500 pallets of temperature controlled and dry warehousing. This facility can be further scaled up to 10,000 pallets in a phased manner within the next two years. The location is 7 kms from Krishnapatnam port, which currently services the requirements of Southern and Central Andhra Pradesh such as the newly developed Sri City industrial region, Eastern Karnataka, Northern Tamil Nadu and Eastern Maharashtra. The facility is scheduled to become operational by March 2017 and will cater to the EXIM trade including sea-food, meat, dairy products, pharmaceutical products, fruits and fruit pulp, the company added.
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