Bharat Heavy Electricals (Bhel) after trading hours yesterday, 28 October 2014, said it has secured a contract worth Rs 422 crore for setting up a 444 megawatts (MW) Hydro Electric Project (HEP) in Uttarakhand. Bhel's scope of work in the contract envisages engineering, procurement and construction of all hydro generating sets and associated electro mechanical works and is to be executed in a tight schedule of 48 months. The order has been placed by THDCIL, formerly known as Tehri Hydro Development Corporation.
L&T's wholly owned IT subsidiary -- L&T Infotech -- after trading hours yesterday, 28 October 2014, said it has completed the acquisition of Pune based Information Systems Resource Centre Pvt. Ltd. (ISRC). ISRC was a subsidiary of Otis Elevator Co., which is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp. L&T Infotech plans to leverage the technology capability and experience of ISRC in order to enhance its value-add to UTC.
Dr Reddy's Laboratories after trading hours yesterday, 28 October 2014, said it has launched Sirolimus Tablets, 1 mg and 2 mg -- a generic version of Rapamune tablets -- in the US market on Monday, 27 October 2014. The Rapamune tablets brands had annual US sales of about $206 million for twelve months ended August 2014, according to IMS Health data.
Hero MotoCorp after trading hours yesterday, 28 October 2014, said that the company is confident of clocking over 90,000 units of scooters in retail sales in this month, which will be the company's all-time high monthly retail scooter sales. The company further said that it is raising scooter production capacity to about 1 lakh units per month by January 2015. Like the previous year, Hero MotoCorp is confident of clocking good double digit growth in scooters this year as well. The company has lined up two new scooter models for launch over the next few months, Hero MotoCorp said.
Separately, the Reserve Bank of India has on Monday, 28 October 2014, notified that foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Hero MotoCorp under the Portfolio Investment Scheme. The Reserve Bank has stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchanges.
Oil and Natural Gas Corporation (ONGC) announced that it signed a Memorandum of Understanding (MOU) with Petrovietnam Exploration Production Corporation (PVEP - a wholly owned subsidiary of Vietnam Oil and Gas Group (Petrovietnam), for mutual cooperation for exploration in the NELP Blocks of ONGC in Andaman and Cauvery Basins, subject to due diligence and negotiations on terms of participation.
ONGC Videsh also signed a Heads of Agreement (HOA) with PVEP for mutual cooperation for exploration in Blocks 102/10 & 106/10 of PVEP and Block 128 of ONGC Videsh in offshore Vietnam, subject to due diligence and negotiations on terms of participation, the company said.
ONGC Videsh forayed into Vietnam as early as 1988, when it was awarded the exploration license for Block 06.1. Presently the Block is producing natural gas. The company also got exploration Blocks 127 and 128 in 2006. Block 127 was relinquished after completing the work programme. Block 128 is currently under exploration, ONGC said in a statement.
State Bank of India announced after market hours yesterday, 28 October 2014, that it has fixed 21 November 2014 as record date for 10-for-1 stock split.
Among prominent earnings, Container Corporation of India, Dish TV India, Dr Reddy's Laboratories, Excel Crop Care, Grasim Industries, MphasiS, Oriental Bank of Commerce, Raymond, State Bank of Bikaner & Jaipur, State Bank of Travancore, Sesa Sterlite, Tech Mahindra, and Thomas Cook (India) will announce their July-September 2014 earnings today, 29 October 2014.
IL&FS Engineering and Construction Company announced that it received a Letter of Award (LOA) from IL&FS Maritime Infrastructure Company (IMICL) on behalf of Dighi Port for a total value of Rs 179.84 crore for engineering, procurement, and construction (EPC) contract for development of Multipurpose Berth, Backup Yard Development and Utilities of Multipurpose Terminal Berth 5 on North Side of Dighi Port, Agardanda in the state of Maharashtra. The project completion period is 545 days from the date of Notice to Proceed (NTP).
Oriental Bank of Commerce announced that its issue of 9.20% unsecured redeemable non convertible basel III compliant Tier II bonds was fully subscribed to the extent of Rs 1000 crore and allotment has been made on 27 October 2014 as per the terms of the Offer Document.
Uflex said it proposes to divest its 100% shareholding in UPET Holdings (WOS), Mauritius to another WOS Company, i.e. Flex Middle East FZE, Dubai in one or more tranches. Out of which, the company has divested 16.67% of the total shareholding in UPET Holdings and received the sale consideration against the sale of such shares.
Nestle India's net profit rose 9.22% to Rs 311.29 crore on 8.51% growth in total income to Rs 2585.96 crore in Q3 September 2014 over Q3 September 2013. The result was announced after market hours yesterday, 28 October 2014.
PI Industries' net profit fell 11.43% to Rs 48.97 crore on 7.25% decline in total income to Rs 432.08 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 28 October 2014.
Net profit of ING Vysya Bank rose 2.18% to Rs 180.13 crore on 10.79% increase in total income to Rs 1664.03 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 28 October 2014.
Net profit of SRF rose 60.88% to Rs 76.85 crore on 9.84% increase in total income to Rs 932.74 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 28 October 2014.
On a consolidated basis, Jubilant Life Sciences reported a net loss of Rs 94.11 crore in Q2 September 2014, higher than net loss of Rs 80.58 crore in Q2 September 2013. Total income fell 3.03% to Rs 1397.52 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 28 October 2014.
TCS turns ex-dividend today, 29 October 2014, for an interim dividend of Rs 5 per share for the year ending March 2015.
Kirloskar Brothers Investments turns ex-dividend today, 29 October 2014, for an interim dividend of Rs 50 per share for the year ending March 2015.
Rallis India turns ex-dividend today, 29 October 2014, for an interim dividend of Re 1 per share for the year ending March 2015.
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