Tata Motors announced after market hours yesterday, 14 October 2015, that its UK based luxury car unit. Jaguar Land Rover's retail sales rose 3% to 47,634 vehicles in September 2015 over September 2014. Jaguar delivered a solid performance in the month, with sales jumping 22% to 10,394 vehicles in September 2015 over September 2014. The increase reflects strong sales of the all-new Jaguar XE sports saloon in markets in which it has gone on sale since May, with China sales only starting in September and US sales starting in 2016. Land Rover retail sales fell 1% to 37,240 units in September 2015 over September 2014.
Jaguar Land Rover's retail sales fell 1% to 110,200 vehicles in Q2 September 2015 over Q2 September 2014, as continuing strong performance in Europe, up 34%, North America, up 23%, and the UK, up 9%, helped offset lower sales in Overseas (including Russia, Brazil, and MENA) and China markets, down 12% and 32% respectively. The lower sales in China in Q2 September 2015 reflect the continued accelerated slowing of economic conditions in China, together with planned new model transitions.
In addition, as previously reported, Jaguar Land Rover had about 5,800 vehicles stored at the port of Tianjin at the time of the explosion and tragic loss of lives in August. Many of these vehicles were destroyed or damaged. Given the exceptional nature of this event, Jaguar Land Rover is still assessing the damages and it may be some time before the company knows what insurance and other recoveries will be. In these circumstances, there is likely to be a one-time exceptional charge in Q2 September 2015 before any potential recoveries in subsequent quarters. The overall Q2 performance has been affected as a result of the above factors. Jaguar Land Rover remains confident about the future and in the second half of the year ending 31 March 2016 (FY 2016) plans to continue to build on the successful launches of the Land Rover Discovery Sport, the Jaguar XE and the new Jaguar XF, as well as launch the new 16 Model Year Range Rover Evoque and Jaguar XJ, followed by the recently unveiled Jaguar F-Pace in late Q4 FY 2016.
D B Corp, LIC Housing Finance, Mastek, MindTree, Karur Vysya Bank and Sintex Industries, among others, will unveil their earnings for the quarter ended 30 September 2015 today, 15 October 2015.
Financial Technologies (India) said that the company has concluded the sale of 11% equity stake in Indian Energy Exchange (IEX) on fully diluted basis, with DCB Power Ventures and Kiran Vyapar, and accordingly 33.36 lakh equity shares has been transferred to the two purchasers from the Escrow Account with Axis Bank. With the conclusion of the transaction, the company has completed the sale of 13.60% stake in IEX, on fully diluted basis, Financial Technologies (India) said. The announcement was made after market hours yesterday, 14 October 2015.
IVRCL said that the company has made an allotment of 1.50 crore equity shares of Rs 2 each, at issue price of Rs 24.39 per share, on 14 October 2015 to International Asset Reconstruction Company (CDR Lender) who signed the Master Restructuring Agreement. This allotment is towards conversion of FITL into equity, for the period of 1 December 2013 to 31 August 2015. The announcement was made after market hours yesterday, 14 October 2015.
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Ruby Mills announced after market hours yesterday, 14 October 2015 that it has fixed 24 October 2015 as the record date for 1:1 bonus issue.
V-Mart Retail announced after market hours yesterday, 14 October 2015, that it has opened a total of four stores, one each at Burdwan, West Bengal; Bhadrak, Odisha; Hajipur, Bihar and Sitamarhi, Bihar. With this the company has entered into the state of West Bengal taking the consolidated number of stores to 114 in 97 cities across 14 states, with 14 composite stores & 80 fashion stores with total area of approx 9.40 lakhs square feet.
DIC India's net profit jumped 248.4% to Rs 7.42 crore on 4.1% rise in net sales to Rs 191.37 crore in Q3 September 2015 over Q3 September 2014. The company announced results after market hours yesterday, 14 October 2015.
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