Shares of interest rate sensitive sectors such as banks, automobile firms and real estate firms will be watched as the Reserve Bank of India (RBI) undertakes mid-quarter review of Monetary Policy 2012-13 today, 19 March 2013.
GlaxoSmithkline Consumer Healthcare turns ex-dividend today, 19 March 2013 for dividend of Rs 45 per share for the year ended 31 December 2012.
Mahindra & Mahindra (M&M) will be in focus after Mahindra Reva, India's electric vehicle pioneer, unveiled its all-electric, zero-emission 'Mahindra e2o' at a ceremony at India Gate in New Delhi on Monday, 18 March 2013. The Mahindra e2o is a manifestation of Mahindra's vision of the 'Future of Mobility' which encompasses the '5Cs' framework of Clean, Convenient, Connected, Clever and Cost Effective vehicle technology. This could well shape the way people commute in the 21st century. The Mahindra e2o will go on sale immediately at select Mahindra dealerships nationwide in a phased manner. The vehicle is priced at Rs.5.96 lakh (on road Delhi, post state subsidy).
Speaking on this momentous occasion, Mr. Anand Mahindra, Chairman, Mahindra Group said The launch of the Mahindra e2o marks an important milestone for the Mahindra Group which brings to mind the historic words of Pandit Jawaharlal Nehru - 'A moment comes, which comes but rarely in history, when we step out from the old to the new.' The Mahindra e2o is the embodiment of that shift from old to new within the Indian automotive industry. It also advances the Mahindra Group's efforts at redefining sustainable urbanization with the creation of an eco system that includes mobility solutions along with other environment friendly innovations."
Speaking on the occasion of the national launch of the Mahindra e2o, Dr. Pawan Goenka, Chairman, Mahindra Reva Electric Vehicles Pvt. Ltd. said, "The Mahindra e2o is our humble effort to usher in positive change in the lives of our customers. EVs have always had the potential to emerge as a serious alternative to fossil fuel driven vehicles. With the Mahindra e2o we have taken the lead in not only creating a comprehensive ecosystem to nurture sustainable mobility solutions, but have also firmly placed a choice in the hands of our consumers. They now have the opportunity of shaping the future of mobility as we know it today."
Glenmark Pharmaceuticals will be watched on media reports that Glenmark Generics is recalling from the US market multiple lots of Montelukast Sodium tablets (10 milligram), used in the treatment of chronic asthma and prophylaxis, on off-odour complaints. The term Off-odour refers to an odour that is not natural or up to set standard owing to deterioration or contamination. Montelukast Sodium tablets are Glenmark's generic version of Singulair by Merck and Co. Inc., indicated for prophylactic treatment of chronic asthma.
Pantaloon Retail (India) said that the Registrar of Companies, Mumbai has issued a fresh Certificate of Incorporation on 16 March 2013 consequent to change in the name of the company from 'Pantaloon Retail (India)' to 'Future Retail'.
LIC Housing Finance said that V. K. Sharma, who has been Director & Chief Executive of the company, has been appointed as Managing Director & Chief Executive of the company in the capacity of whole time Executive Director with effect from 19 March 2013. Further, Sushobhan Sarker, who has been Managing Director of the company, will continue to be a Non Executive Director with effect from 19 March 2013.
Ruby Mills informed that workers of weaving section of Dhamni Plant of the company have called off their illegal strike on 16 March 2013 and normal operations of the plant have started and full attendance of workers is expected in couple of days.
Liberty Shoes said its board has approved corporate restructuring of the company. The restructuring will include appointment of external agencies for in-depth study of the existing operations of the company and preparation of strategic business plan with specific emphasis on high growth with the aim of regaining the leading position in the organized footwear industry and sustained profitability. The restructuring plan also includes organisational/corporate restructuring/acquisition-merger, consolidation and promoter payouts with special emphasis on unlocking shareholder value. Further, the plan also includes enlargement of the scope of existing management committee of the board for the consideration and approval of restructuring plan. As the part of restructuring process, the board also approved reconstitution of management committee.
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