Asian Paints announces Q4 results today, 18 May 2015.
The Tata Motors Group global wholesales including Jaguar Land Rover (JLR) rose 4% to 77,701 units in April 2015 over April 2014. Global wholesales of all commercial vehicles - Tata, Tata Daewoo were flat at 26,680 units in April 2015 over April 2014. Global wholesales of all passenger vehicles, including Jaguar Land Rover rose 6% to 51,021 units in April 2015 over April 2014. Global wholesales of Tata passenger vehicles rose 32% at 10,356 units in April 2015 over April 2014. Global wholesales for Jaguar Land Rover in April 2015 were 40,665 vehicles (Includes CJLR wholesales). Jaguar wholesales for the month were 6,768, while Land Rover wholesales for the month were 33,897 units. *CJLR - It is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. Tata Motors Group global wholesales figures for April 2015 were announced after market hours on Friday, 15 May 2015.
Bharti Airtel said on Saturday, 16 May 2015, that it has received financing commitments of up to $2.5 billion from China Development Bank and Industrial and Commercial Bank of China. The company signed the term sheets for the financing options in the presence of Prime Minister of India, Narendra Modi, who was on an official visit to China. Subject to final agreements and requisite approvals, Bharti Airtel can draw these funds over a long availability period, depending on its financing requirements. China Development Bank has committed financing of up to $2 Billion with an average maturity of about nine years. This is the single largest bilateral commitment by China Development Bank to any telecom operator globally and the largest bilateral commitment to a private Indian company. Industrial and Commercial Bank of China has committed $500 million with an average life of about nine years, making it the largest and longest bilateral commitment to an Indian telecom operator. These financing options will allow the company to diversify its global financing pool and access funds to invest in the growth of data networks across its global operations.
In March 2015, Bharti Airtel had announced a strategic collaboration with China Mobile, under which, the two companies will work towards the growth of the LTE ecosystem and evolving mobile technology standards. Bharti Airtel also has network equipment sourcing agreements with ZTE and Huawei. These financings further compliment the strong collaboration with Chinese partners.
Reliance Industries (RIL) will be watched. With respect to news titled "Strike at RIL's Patalganga factory on wage issue," RIL clarified after market hours on Friday, 15 May 2015, that a part of the contract workforce at its Patalganga factory have not been reporting for work predominantly in the Polyester area. All others including the regular staff and contract workforce are at work. The appropriate authorities have advised that the action of the contract workforce not reporting for work is unwarranted and uncalled for. The manufacturing operations in both the Petrochemicals and the Polyester area have not been impacted and continue to be normal.
Shares of public sector oil marketing companies (PSU OMCs) and automobile firms will be in focus after PSU OMCs announced hike in retail selling price of petrol and diesel after trading hours on Friday, 15 May 2015. Indian Oil Corporation (IOCL) has raised retail selling price of petrol by Rs 3.13 a litre in Delhi (including state levies) with corresponding price revision in other states. With this change, the price of petrol in Delhi stands at Rs 66.29 a litre. The hike in price took effect from the midnight of 15/16 May 2015. IOCL has raised retail selling price of diesel by Rs 2.71 a litre in Delhi (including state levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi stands at Rs 52.28 a litre. IOCL said that there has been a steep increase in international prices of both petrol and diesel during the fortnight. The rupee also depreciated quite significantly during the fortnight. The combined impact of both these factors warrant an upward revision in retail selling prices, the impact of which is being passed on to the consumers with this latest price increase, IOCL said in a statement issue on Friday, 15 May 2015. The movement of prices in international oil market and the rupee-dollar exchange rate will be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.
Corporation Bank's net profit rose 8.41% to Rs 45.06 crore on 7% rise in total income to Rs 5385.28 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 16 May 2015.
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Jammu & Kashmir Bank's net profit fell 59.45% to Rs 101.61 crore on 7.14% rise in total income to Rs 2023.50 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 16 May 2015.
JB Chemicals & Pharmaceuticals (JBCPL) will be in focus as shares allotted by the company pursuant to a Scheme of Amalgamation will be admitted for trading on the bourses today, 18 May 2015. A total of 4.33 crore shares will be admitted for trading on the bourses. The Scheme of Amalgamation comprised of a merger of a total of six companies with JBCPL. The purpose of the merger was to help the promoter group in consolidating and reorganizing the promoter holding in JBCPL.
JK Lakshmi Cement's net profit fell 88.56% to Rs 6.05 crore on 11.41% decline in total income to Rs 595.94 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours on Friday, 15 May 2015.
Gujarat State Petronet announced before market hours that Petroleum and Natural Gas Regulatory Board has issued vide its letter dated 5 May 2015, the Grant of Authorisation to GSPL for developing City Gas Distribution (CGD) Network in the Geographical Area of Amritsar District (Punjab) and the same was accepted by GSPL on 15 May 2015. The Authorized Area for laying, building, operating or expanding proposed CGD Network shall cover a geographical area of 2648 square Kms.
Federal Bank announced before market hours that the Board of Directors of the bank in their meeting held on 16 May 2015 have recommended 1:1 bonus issue.
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