Castrol India said that the company has received an order from Maharashtra Sales Tax Department for the financial year 2009-10, demanding Rs 255 crore towards sales tax (including interest). While the company is reviewing the order in detail, the demand pertains to sale of goods made by the company in the states other than Maharashtra, where applicable taxes have been paid as per the provisions of law, Castrol India said. Castrol India is operating within the laws of the country and pays sales tax in a state in which the goods are sold. The company is committed to fully co-operate with the authorities, while seeking appropriate legal recourse to justify and validate its position, Castrol India said. The company's tax payment methodology in respect of the goods sold is adequately supported by robust legal grounds/precedents and in company's opinion the demand is unjustified, it said. The announcement was made after market hours yesterday, 2 November 2015.
ABB India, Adani Power, DLF, Indian Oil Corporation, Power Grid Corporation of India and Tech Mahindra will announce their July-September 2015 quarterly earnings today, 3 November 2015.
TVS Motor Company recorded 14% growth in total sales to 2.74 lakh units in October 2015 over October 2014.
Reliance Communications (RCom) said that the board of directors of the company at its meeting held yesterday, 2 November 2015, subject to the approval of the Shareholders, Creditors, High Court of Judicature at Bombay and High Court of Rajasthan at Jaipur and Statutory and Regulatory Authorities, approved the scheme of arrangement (Scheme), which provides for transfer and vesting Wireless Telecom Business Undertaking of Sistema Shyam Teleservices (SSTL) into the company. The announcement was made after market hours yesterday, 2 November 2015.
Pursuant to the Scheme, towards consideration of the transfer and vesting of the Wireless Telecom Business Undertaking, as currently proposed the company will issue and allot to SSTL, 27.65 crore fully paid up equity shares of Rs 5 each of the company aggregating to 10% of the fully diluted paid up share capital of the company and perform its obligation under transaction document, RCom said. The equity shares issued by the company to SSTL will be listed on the stock exchanges on which the shares of the company are presently listed, RCom said.
RCom had during market hours yesterday, 2 November 2015 said that the company has agreed to acquire Russian conglomerate Sistema JSFC's Indian wireless business carried on by Sistema Shyam Teleservices (SSTL) through a stock swap.
Tata Coffee said that ICRA, has vide its letter dated 30 October 2015 assigned the rating of [ICRA] A1+ (pronounced as ICRA A one plus) to the company's Rs 60 crore commercial paper. The rating is considered to have a very strong degree of safety regarding timely payment of financial obligations and such instrument carry lowest credit risk, Tata Coffee said. The announcement was made after market hours yesterday, 2 November 2015.
On a consolidated basis, Reliance Capital's net profit rose 15.2% to Rs 250 crore on 13.29% rise in total income to Rs 2361 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 2 November 2015.
On a consolidated basis, Oberoi Realty's net profit rose 2.69% to Rs 72.44 crore on 6.05% rise in total income to Rs 200.84 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 2 November 2015.
Credit Analysis and Research's net profit fell 27.77% to Rs 37.85 crore on 17.01% fall in total income to Rs 80.45 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 2 November 2015.
eClerx Services board of directors at its meeting held yesterday, 2 November 2015, approved recommendation for issue of 1 bonus share for every 3 held. The announcement was made after market hours yesterday, 2 November 2015.
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