Reliance Industries' (RIL) consolidated net profit rose 1.7% to a record Rs 5972 crore in Q2 September 2014 over Q2 September 2013. Turnover declined 4.3% to Rs 113396 crore in Q2 September 2014 over Q2 September 2013. RIL attributed the decline in turnover to lower crude prices and decline in volumes in the refining and oil & gas businesses. RIL's other income or non-operational income dropped 14.36% to Rs 2009 crore in Q2 September 2014 over Q2 September 2013. RIL said the decline in non-operational income was primarily on account of lower investible surplus.
RIL's net profit rose 0.3% to a record Rs 5972 crore on 5.1% growth in turnover to Rs 113396 crore in Q2 September 2014 over Q1 June 2014. Other income rose 1.77% to Rs 2009 crore in Q2 September 2014 over Q1 June 2014.
RIL's gross refining margins (GRM) edged up to $8.3 a barrel in Q2 September 2014, from $7.7 a barrel in Q2 September 2013. The GRM was lower than $8.7 a barrel in Q1 June 2014.
The net addition to RIL's fixed assets for the half year ended 30 September 2014 was Rs 44895 crore, including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansion projects in the petrochemicals and refining business at Jamnagar, Dahej and Hazira, Broad band Access and US Shale gas projects, RIL said.
Hero MotoCorp on Monday, 13 October 2014 announced the appointment of Dr. Markus Braunsperger as the Chief Technology Officer (CTO). This move builds on Hero's vision to further augment its world-class technology capabilities through the best of global talent, global alliances and state-of-the-art infrastructure, Hero MotoCorp. The announcement was made after market hours on Monday, 13 October 2014.
Dr. Braunsperger, comes from BMW, Germany where he spent 25 years in various roles covering the entire gamut of R&D, production and corporate strategy.
Tata Steel after trading hours yesterday, 13 October 2014, said that the company's saleable steel production rose 0.31% to 2.21 million tonnes in Q2 September 2014 over Q2 September 2013. The company's hot metal production rose 4.78% to 2.58 million tones in Q2 September 2014 over Q2 September 2013. Crude steel production declined 0.91% to 2.26 million tones in Q2 September 2014 over Q2 September 2013. Tata Steel's steel deliveries rose 3.53% to 2.11 million tones in Q2 September 2014 over Q2 September 2013.
Bajaj Auto unveils Q2 results today, 14 October 2014.
DLF said before market hours that the Order dated 10 October 2014 passed by the Whole Time Member of Securities and Exchange Board of India (Sebi) has come to the notice of DLF only on 13 October 2014. The same is being reviewed by DLF and its legal advisors. DLF and its board wish to reassure its investors and all other stakeholders that it has not acted in contravention of law either during its initial public offer or otherwise. DLF and its board were guided by and acted on the advise of eminent legal advisors, merchant bankers and audit firms while formulating its Offer documents. DLF will defend itself to the fullest extent against any adverse findings and measures contained in the Order passed by SEBI. DLF has full faith in the judicial process and is confident of vindication of its stand in the near future.
Market regulator Sebi on Monday, 13 October 2014, barred DLF and its chairman K.P. Singh along with five other company executives from accessing India's capital markets for three years. The order is related to lapses in disclosures made at time of the company's IPO in 2007.
Tata Power Company said after market hours on Monday, 13 October 2014, that the board of directors of the company at its meeting held on 13 October 2014, has approved the issue of non-cumulative, redeemable, listed, rated non-convertible debentures not exceeding an aggregate limit of Rs 3700 crore on private placement basis. The NCDs may be issued by the company in one or more tranches and may be unsecured or secured by creation of charge over the assets of the company.
Anant Raj said after market hours on Monday, 13 October 2014, that the company has prematurely redeemed the outstanding 1000 NCDs of Rs 5 lakhs each at par, issued to Yes Bank, on private placement basis. The total amount paid on prepayment is Rs 50 crore. After the aforesaid prepayment, the company has completed redemption of entire NCDs under Series-A and the ISIN - INE242C07021 would stand extinguished.
Berger Paints India said that the company's powder coating plant at Maharashtra has commenced trial production on 1 October 2014. The announcement was made after market hours on Monday, 13 October 2014.
IRB Infrastructure Developers said that the company's wholly owned subsidiary Mhaiskar Infrastructure has now executed concession agreement with MSRDC for the project of Operation & Maintenance of Yashwantrao Chavan Expressway and Mumbai Pune section of NH-4 along with execution of additional works on Mumbai Pune section of NH-4, on DBFOT basis with toll rights in the state of Maharashtra. The announcement was made after market hours on Monday, 13 October 2014.
The estimated cost of the project is approximately Rs 1687 crore, including Rs 1000 crore as upfront premium payable to MSRDC in 4 annual installments as prescribed in the bid, commencing from 31 March 2015, IRB Infrastructure Developers said. The concession period for the project is 8 years 8 months and 2 days commencing from 31 March 2015. The construction works and payment of upfront premium installments to MSRDC have to be completed as prescribed in the bid till 10 August 2019. The toll collection for the project will commence from 10 August 2019, resulting into an effective tolling period of 4 years 3 months 22 days only.
IL&FS Engineering and Construction Company has received a Letter of Award (LoA) from National Highways Authority of India (NHAI) for a total value of Rs 1232 crore for four laning of Patna-Gaya-Dobhi Section in the state of Bihar to be executed under JICA ODA Loan Assistance. The project completion period is 1095 days from commencement date. The announcement was made after market hours on Monday, 13 October 2014.
Srinivasa Hatcheries said that operations in two of the company's units near Visakhapatnam have been disrupted and the properties therein have suffered substantial damage on account of the severe cyclonic storm 'Hudhud' on 12 October 2014. Further there was damage in the company's other units also, however the details regarding the nature and extent of damage could not be ascertained as the communication and transport system have been completely paralyzed. All the assets except the livestock have been covered by insurance. Efforts have begun to restore normalcy in operations in the units, Srinivasa Hatcheries said. The announcement was made after market hours on Monday, 13 October 2014.
Western India Shipyard said the company has secured a repair order from its client namely, Aban Offshore, for major repairs to a Deep Sea Oil Rig "Aban IV" amounting to Rs 13.50 crore over a period of about 90 days. The repairs involve steel and pipeline renewal, surface protection, painting and other minor repairs. The announcement was made after market hours on Monday, 13 October 2014.
Shree Bhawani Paper Mills said that in accordance with the direction of Central Pollution Control Board (CPCB), the company has stopped the production at its Mills at Raebareli and has applied to CPCB for resume the same, as it has complied with all directions and conditions stipulated by CPCB. The announcement was made after market hours on Monday, 13 October 2014.
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