Castrol India's net profit rose 7.04% to Rs 126.20 crore on 7.80% increase in total income to Rs 836.60 crore in Q4 December 2013 over Q4 December 2012.
GlaxoSmithKline Pharmaceuticals, ABB India, Gujarat Pipavav Port and Paper Products, among others, will announce their October-December 2013 earnings today, 18 February 2014.
Investment firm Cartica Capital acquired 5.58 lakh shares, or 5% stake, in Page Industries for over Rs 316 crore through open market route.
Individually, Cartica Capital bought 4.08 lakh shares of Page Industries on the NSE and 1.50 lakh shares of the company on the BSE. The shares were bought on an average price of Rs 5,673 valuing the transaction at Rs 316.55 crore.
The shares were purchased from company's three promoters -- Nari Genomal, Ramesh Genomal and Sunder Genomal -- and HDFC mutual fund.
As of 31 December 2013, the three promoters held a little over 21 lakh shares each of the company. Total promoter holding stood at 56.94% in Page Industries.
GlaxoSmithKline Pharmaceuticals will be watched as the Britain-based GlaxoSmithKline Plc's voluntary open offer to the shareholders of its Indian subsidiary GlaxoSmithKline Pharmaceuticals is scheduled to start today, 18 February 2014. The offer will end on 5 March 2014. The global healthcare major plans to invest Rs 6390 crore to raise its stake in its Indian subsidiary to 75% from the existing 50.67%.
Steel Authority of India (Sail) turns ex-dividend today, 18 February 2014, for interim dividend of Rs 2.02 per share for the year ending 31 March 2014.
Ashoka Buildcon turns ex-dividend today, 18 February 2014, for interim dividend of 70 paise per share for the year ending 31 March 2014.
Hikal turns ex-dividend today, 18 February 2014, for interim dividend of Rs 2 per share for the year ending 31 March 2014.
Manappuram Finance turns ex-dividend today, 18 February 2014, for interim dividend of 45 paise per share for the year ending 31 March 2014.
Force Motors said that the promoters of the company, viz. Jaya Hind Investments and others, have acquired 6.31 lakh equity shares of Rs 10 each (in demat form) on spot delivery basis from twelve members of the company on 17 February 2014. With this acquisition, the number of shares held by the promoter group stands increased from 68.18 lakh equity shares to 74.49 lakh equity shares, i.e. from 51.75% to 56.54% of the total paid up share capital of the company, Force Motors said in a statement.
United Bank of India said it held a meeting of the regional heads of the bank on 16 February 2014 at its head quarter at Kolkata, where the corporate strategies to bring about substantial improvement in the performance of the bank were discussed and concrete action plan was prepared. After a threadbare discussion with the field functionaries, the top management of the bank headed by the executive directors expressed their confidence in upgrading and reducing at least Rs 2000 crore non-performing assets through intensive recovery drive which will substantially improve its working results in March quarter. The bank has recently reduced the interest rate in deposit and increased the base rate in order to improve its bottom line. Several cost cutting measures have also been envisaged. The top management is confident that all these measures can turn around the bank in March quarter, the bank said in a statement.
Gold loan company Muthoot Finance is reportedly evaluating options for entering the insurance sector and is on the lookout for a foreign partner in this regard.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as the under-recovery on High Speed Diesel (HSD) applicable for the second fortnight of February 2014, effective from 16 February 2014, rose to Rs 8.31 per litre. This was Rs 7.39 per litre during first fortnight of February 2014. PSU OMCs are currently incurring combined daily under-recovery of about Rs 456 crore on the sale of Diesel, PDS Kerosene and Domestic LPG at government controlled prices. This is higher than Rs 446 crore daily under-recoveries for the first fortnight of February 2014. The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas reviewed international prices of crude oil and petroleum products during the first fortnight of February 2014. PSU OMCs reported a total of Rs 100632 crore as under-recoveries during first nine months of 2013-14 (April-December 2013) on Diesel, PDS Kerosene, Domestic LPG.
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