L&T after market hours on Monday, 14 July 2014 said that its wholly-owned subsidiary dedicated to oil and gas -- L&T Hydrocarbon -- has secured an order worth Rs 5076 crore from Kuwait Oil Company (KOC). L&T Hydrocarbon will execute complete Engineer-Procure-Construct contract for a gathering centre for KOC, a subsidiary of Kuwait Petroleum Corporation (KPC) and fully owned by the State of Kuwait. Located in North Kuwait, the oil gathering facilities will receive crude from the Raudhatain fields.
DCB Bank net profit rose 4.2% to Rs 44.64 crore on 26.4% increase in operating income to Rs 386.69 crore in Q1 June 2014 over Q1 June 2013.
ITC clarified after market hours on Monday, 14 July 2014, regarding reports of ITC Hotels close to acquiring the Ramada Caravela Beach Resort from Advani Hotels & Resorts in Goa at a cost of Rs 700 crore that the report is speculative in nature and as a matter of best practice, the company does not respond to market rumours. ITC further said it routinely scans strategic opportunities for business growth and this process involves dialogues from time to time with relevant parties across the country for different businesses. As and when there is conclusive development of a substantive nature, the company keeps the stock exchanges informed. As regards to volatility in the share price in the morning on 14 July 2014, with stock price moving from Rs 346.05 to Rs 349.19, ITC said that it is not aware of any information which could have led to such movement.
Shares of NBFCs will be watched after the Reserve Bank of India (RBI) on Monday, 14 July 2014, barred non-banking finance companies (NBFCs) from charging pre-payment penalties from customers on floating rate term loans. This sector regulator asked NBFC to follow this direction with immediate effect. RBI said this is a measure to protect customers' interest.
United Spirits has entered into an asset purchase agreement with J P Impex lncorp for purchasing the building, plant and machinery, licenses, transfer of lease hold rights on the land, all relating to the factory for a total consideration of Rs 11.50 crore. The purchase of will facilitate an increase in the company's licensed Indian Made Foreign Liquor production capacity in Karnataka, which the company proposes to use for Tetra Pak production and availing logistical advantage.
Hitachi Home & Life Solutions (India) said after market hours on Monday, 14 July 2014, that the management has decided to shift the entire Jammu and Kashmor unit along with manpower, plant and machineries to its main plant situated in Karan Nagar, Kadi, Dist. Mehsana, Gujarat for centralization of production activity without adversely affecting the production capacity. This step was taken by the management in order to maximize productivity, minimize or reduce operational costs so as to remain competitive in the market and would result in administrative convenience.
Persistent Systems said after market hours on Monday, 14 July 2014, it completed acquisition of certain assets of Hoopz Planet Info after satisfaction of the customary closing conditions.
Mangalore Refinery and Petrochemicals has clarified after market hours on Monday, 14 July 2014, regarding merger of ONGC Mangalore Petrochemicals (OMPL) with MRPL that at present MRPL holds only 3% equity in OMPL and is examining the possibility of acquiring more stake in OMPL and the company will intimate the stock exchange in case of any material development in this regard. Other individual shareholders reportedly held 51% stake in OMPL and ONGC held 46% stake as at 31 March 2014.
City Union Bank said its qualified institutional placement (QIP) issue of equity shares opened on Monday, 14 July 2014. The issue is priced at Rs 75.05 per equity share.
Orchid Chemicals & Pharmaceuticals said the board has approved the issue of shares to promoters on a preferential basis pursuant to the conditions of CDR package sanctioned to the company by corporate debt restructuring cell. The consent for the same from the shareholders is being sought through postal ballot for which the notice will be sent shortly.
Lyka Labs said that its board has considered selling manufacturing facilities of formulations at Tarapur, Maharashtra.
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