Maruti Suzuki India said on Monday, 6 October 2014, it unveiled globally its much awaited offering in the mid-size premium sedan segment, the Ciaz on 6 October 2014. Ciaz's petrol variants are priced from Rs 6.99 lakhs to Rs 9.34 lakhs while diesel variants are priced from Rs 8.04 lakhs to Rs 9.80 lakhs, ex-showroom Delhi.
Tata Motors after market hours on Wednesday, 1 October 2014 said that its total sales (including exports) of Tata commercial and passenger vehicles declined 8% to 46,118 units in September 2014 over September 2013. Domestic sales of Tata commercial and passenger vehicles declined 11% to 40,874 units in September 2014 over September 2013. The company's sales of commercial vehicles in the domestic market fell 13% to 28,943 units in September 2014 over September 2013. LCV sales declined 24% to 18,539 units in September 2014 over September 2013. Sales of M&HCV rose 18% to 10,404 units in September 2014 over September 2013. Sales of passenger vehicles fell 7% to 11,931 units in September 2014 over September 2013. Sales of passenger cars remained flat at 9,766 units. Sales of utility vehicles declined 30% to 2,165 units in September 2014 over September 2013. Exports rose 18% to 5,244 units in September 2014 over September 2013.
TVS Motor Company (TVS Motor) after market hours on Wednesday, 1 October 2014 said that its total sales rose 27% to 2.50 lakh units in September 2014 over September 2013. Exports grew by 15% to 31,616 units in September 2014 over September 2013. Two-wheeler exports rose 15% to 24,221 units in September 2014 over September 2013. The company's total two-wheeler sales surged 28% to 2.41 lakh units in September 2014 over September 2013. Domestic two-wheeler sales jumped 29% to 2.17 lakh units in September 2014 over September 2013. Scooter sales jumped 63% to 70,508 units in September 2014 over September 2013. Motorcyle sales rose 18% to 98,052 units in September 2014 over September 2013. Three-wheeler sales rose 18% to 9,167 units in September 2014 over September 2013.
TVS Motor's total sales rose 35% to 6.77 lakh units in Q2 September 2014 over Q2 September 2013. Total two wheeler sales grew by 36% to 6.49 lakh units in Q2 September 2014 over Q2 September 2013. Total three wheeler sales grew by 24% to 0.28 lakh units in Q2 September 2014 over Q2 September 2013.
Infosys said on Monday, 6 October 2014, that Infosys' former employee, Jack Palmer's current complaint in the United States District Court in New Jersey is a repetition of issues that were tried and dismissed by a federal court in 2012. Palmer resigned in 2013 November and released the company from the charges he has alleged in the complaint. The company said it believes current complaint is without any legal merit and will vigorously defend this complaint. The company expects the issue to be resolved at the earliest. As per reports, in a fresh case filed by Palmer in a New Jersey District Court last week, the American national claims to have been discriminated because he raised the issue of breach of US visa rules. Palmer had earlier sued Infosys in an Alabama state court, accusing the company of harassment and breach of contract after he raised concerns about possible visa violations by the firm.
Cipla said on Saturday, 4 October 2014, that the company has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran. The total contribution from the company over the next 3 years will include machinery, equipment, technical know-how and is expected to be approximately Rs 225 crore for a 75% stake. The proposed investment is subject to completion of certain conditions precedent and applicable regulatory approvals.
NTPC said on Saturday, 4 October 2014, that a memorandum of understanding (MoU) has been entered on 1 October 2014, amongst Ministry of New and Renewable Energy (MNRE), National Institute of Wind Energy (NIWE) and consortium of partners consisting of NTPC (as lead partner), Power Grid Corporation of India, Power Finance Corporation (PFC), Indian Renewable Energy Development Agency (IREDA), PTC India (PTC) and Gujarat Power Corporation (GPCL) for undertaking development of offshore wind power projects and its evacuation & integration into the grid though a joint venture company to be incorporated in this regard.
Lupin after market hours on Wednesday, 1 October 2014 said that the closing conditions for acquisition of 100% equity stake in Laboratorios Grin, S.A. DE C.V., Mexico (Lab Grin) were completed on 30 September 2014. Consequent to which, Lab Grin has become a wholly-owned subsidiary of Lupin with effect from 30 September 2014.
Ranbaxy Laboratories (Ranbaxy) after market hours on Wednesday, 1 October 2014, said that its wholly owned subsidiary Ranbaxy Laboratories Inc. (RLI) announced the launch of ABSORICA (isotretinoin) 25 mg and 35 mg capsules into the US healthcare market. ABSORICA has become the most prescribed branded oral isotretinoin in the US, as per a recent independent survey conducted with dermatologists, Ranbaxy said. The product is licensed by Ranbaxy from Cipher Pharmaceuticals, Inc. It is indicated for the treatment of severe recalcitrant nodular acne in patients 12 years of age and older, Ranbaxy said.
Ashoka Buildcon after market hours on Wednesday, 1 October 2014 said that one of its SPVs viz. Ashoka Sambalpur Baragarh Tollway has received provisional completion certificate for its National Highway project viz. four laning of Sambalpur-Baragarh-Orissa/Chattisgarh Border Section of NH-6 in Orissa to be executed on BOT (Toll) project on DBFOT pattern under NHDP Phase III, and the toll collection has commenced from midnight of 1 October 2014. The total concession period is 30 years including construction period of 30 months.
The board of ABG Shipyard approved allotment of 8.28 crore, 0.01% compulsorily convertible preference shares of Rs 10 each at par value to the CDR lenders on preferential basis.
Elgi Equipments said on 6 October 2014, that the lawsuit has been settled against its subsidiary, Patton's, Inc. alleging a number of claims against Quincy Compressor LLC, among other defendants, surrounding the events that unfolded after the company purchased Patton's, Inc. in November 2012. Patton's, Inc. a - subsidiary of the company in USA brought a lawsuit last year in the Mecklenburg County Superior Court, North Carolina, USA which was assigned to the North Carolina Business Court. The settlement is confidential and the company believes, on the basis of the advice of the board members of Patton's, Inc. and their legal counsel that the settlement was in the best interest of the company. The company said the lawsuit has been brought to a satisfactory conclusion.
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