Ambuja Cements' net profit rose 3.81% to Rs 328.59 crore on 7.91% growth in total income to Rs 2477.22 crore in Q4 December 2014 over Q4 December 2013. The result was announced after market hours yesterday, 18 February 2015.
Ambuja Cements' net profit rose 15.58% to Rs 1496.36 crore on 8.95% growth in total income to Rs 10407.10 crore in the year ended 31 December 2014 over the year ended 31 December 2013.
On consolidated basis, Ambuja Cements' net profit rose 16.26% to Rs 1486.50 crore on 8.8% growth in total income to Rs 10424 crore in the year ended 31 December 2014 over the year ended 31 December 2013.
Hindalco Industries will be in focus after the company won the Gare Palma IV 5 coal block in Chhattisgarh for Rs 3,502 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal today, 19 February 2015. The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal.
Bharti Infratel will be in focus after the Reserve Bank of India yesterday, 18 February 2015, raised the ceiling on investment in the company's shares by foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under the portfolio investment scheme to 49% of the company's equity capital with effect from 18 February 2015, from earlier 24%. Total FII holding in Bharti Infratel stood at 17.82% as on 31 December 2014.
Lupin announced after market hours yesterday, 18 February 2015, that its US subsidiary, Lupin Pharmaceuticals Inc. (collectively Lupin) has launched the all new InspiraChamber Anti-Static Valved Holding Chamber (VHC) under a strategic licensing agreement with the New Jersey based respiratory research and development company InspiRX Inc. (InspiRX). The agreement grants Lupin exclusive rights to promote, distribute and market InspiraChamber VHC in the United States.
Developed by InspiRX, the all new InspiraChamber VHC is a device that has been designed to enhance delivery of aerosol therapies. The InspiraChamber VHC is intended to be used by patients who are under the care or treatment of a physician or licensed healthcare professional. The device is intended to be used by asthma patients to administer aerosolized medication from most pressurized Metered Dose Inhalers (pMDIs). Several clinical and laboratory studies have shown that the InspiraChamber VHC has features that are superior to the leading VHCs in the market. These features may lead to more effective delivery of asthma medicines.
With respect to news article titled "Wipro may hive off its unit investing in nextgen ideas", Wipro clarified after market hours yesterday, 18 February 2015 that the company keeps exploring continuously various structuring options for its businesses and as and when any firm decision is taken by the board it will be communicated to the stock exchanges at the appropriate time.
Hero MotoCorp will be watched. The promoter group Hero Group announced market hours yesterday, 18 February 2015, that in a major initiative towards diversification into fast growth areas, the BML Munjal-led Hero Group has sold 70 lakh shares in its flagship firm Hero MotoCorp. Following the sale, Hero Group still holds a significant stake of over 36% in the company. The group will use the sale proceeds to fund new growth avenues available through the government's 'Make in India' initiative, the Hero Group said in press release. The Hero Group said that it remains strongly committed to its core two-wheeler business, where it sees enormous potential, both in India and overseas. The Hero Group said that Hero MotoCorp has successfully consolidated its market leadership in the highly-competitive domestic market in India, even as it expands its global footprint across Asia, Africa and Central and South America.
ONGC announced after market hours yesterday, 18 February 2015, that on 18 February 2015, the company entered into a memorandum of understanding (MoU) with Super Wave Technology (SWTPL) for researching alternative technology for hydraulic fracturing. SWTPL is a company incorporated by Society for Innovation and
With this partnership, ONGC will provide assistance to SWTPL, for developing Shock Wave Assisted Fracturing technology, an alternate to the conventional hydraulic fracturing which if proven effective as a substitute to hydraulic fracturing, in particular for shale gas exploration, will be a game changer for the oil & gas industry. The MoU signed will provide impetus for development and field implementation of Shock Wave technology for oil & gas fields. Once successful, technology will be jointly patented by ONGC and SWTPL for further commercial benefits worldwide.
With respect to news article titled "The company to sell 0.9 acre land in Mahim by year end. JLL to manage land sale. company to sell land to monetize assets," Tata Communications has clarified after market hours yesterday, 18 February 2015, that unlocking the value of unutilised assets, is one of the avenues that the company has been exploring as it continually looks at various ways to optimise operational efficiency.
Bharat Forge announced after market hours yesterday, 18 February 2015, that it has signed a multi-year contract with Boeing Commercial Airplane to supply titanium forgings for wing components for the next-generation 737 and 737 MAX. Under the agreement, Bharat Forge will begin supplying pre machined forgings from its facilities in Pune and Baramati to Boeing during Q1 June 2016.
Escorts announced after market hours yesterday, 18 February 2015, signing of a partnership with DLL Group's Indian subsidiary (De Lage Landen Financial Services India) to launch Escorts Credit which will provide retail tractor loans to Escorts customers with convenient and fast loan options. This agreement between Escorts and DLL, a fully owned subsidiary of the Netherlands headquartered Rabobank-one of the world's leading banks in the food and agricultural sector, will help Indian farmers, who wish to purchase Escorts tractors, by providing easy and quick finance with customised repayment options linked to their income cycles.
Raymond announced after market hours yesterday, 18 February 2015, that 24,290 shares of J. K. Investor (Bombay) and 9,996 shares of Smart Investments, two promoter group companies who collectively hold (directly/indirectly) approximately 37.17% of the shares of Raymond, has been transferred to Mr Gautam Hari Singhania (son of Dr. Vijaypat Singhania) being immediate relatives forming part of the Promoter Group of Raymond. In letter dated 9 February 2015, Dr. Vijaypat Singhania, the Promoter of Raymond had informed the company of his intention to transfer shares of certain promoter group companies which hold directly and indirectly shares of Raymond. Further Raymond has informed that, these transfers are proposed to be affected by way of gift from Dr. Vijaypat Singhania to Mr. Gautam Hari Singhania. This would help in maintaining continuity of management and align ownership interest.
Ashoka Buildcon announced after market hours yesterday, 18 February 2015, that the company is pursuing its claims for additional toll period on the Construction, replacement, periodical renewal and maintenance of Dewas Bypass Road Project on Build, Operate and Transfer (BOT) basis with toll rights, with the Public Works Department, Madhya Pradesh. The original concession period, as per the Concession Agreement executed by one of its Subsidiaries viz. Ashoka Infraways in respect of the project has expired with effect from 12.00 IST, 18 February 2015. The project from Km. 159/4 of Bhopal-Ujjain Road (SH-18) and joining Km. 577/6 of Agra-Bombay Road, (NH-3) intersecting NH-3 in Km. 567/8 and SH-18 in Km. 151/8 having total length of 19.8 Km.
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