On a consolidated basis, Tata Motors' net profit fell 25.48% to Rs 3580.72 crore on 9.66% increase in total income to Rs 70195.23 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 5 February 2015. Tata Motors said that its topline in Q3 December 2014 grew despite continuing weak operating environment in the standalone business which was more than offset by, increase in wholesale volumes, richer product mix and market mix at Jaguar Land Rover (JLR).
Tata Motors' British luxury car unit JLR's net profit declined 4.2% to GBP 593 million on 10.3% growth in revenues to GBP 5879 million in Q3 December 2014 over Q3 December 2013. Operating profit (EBITDA) rose 7.8% to GBP 1096 million in Q3 December 2014 over Q3 December 2013. Continued strong revenue and operating performance were driven by wholesale volume increase, richer product mix supported by the ongoing success of Range Rover Sport, Range Rover and Jaguar F-TYPE and rich market mix, Tata Motors said.
Bank stocks will be in focus after the Reserve Bank of India (RBI) yesterday, 5 February 2015, said in its guidelines for implementation of Countercyclical Capital Buffer (CCCB) that the CCCB may be maintained in the form of Common Equity Tier 1 (CET 1) capital or other fully loss absorbing capital only, and that the amount of the CCCB may vary from 0 to 2.5% of total risk weighted assets (RWA) of the banks. While the framework for CCCB takes immediate effect, the activation of CCCB will take place when circumstances warrant, the RBI said. Currently, circumstances do not warrant activation of CCCB, the central bank said. All banks operating in India should maintain capital for Indian operations under CCCB framework based on their exposures in India, the RBI said. For all banks operating in India, CCCB shall be maintained on a solo basis as well as on consolidated basis, the central bank said.
The credit-to-GDP gap will be the main indicator in the CCCB framework in India. However, credit-to-GDP gap shall not be the only reference point and shall be used in conjunction with gross non-performing assets (GNPA) growth, the RBI said. Credit-to-GDP gap is the difference between credit-to-GDP ratio and the long term trend value of credit-to-GDP ratio at any point in time. The same set of indicators that are used for activating CCCB may be used to arrive at the decision for the release phase of the CCCB, the RBI said.
GAIL (India), IDBI Bank, NMDC, Sun TV Network, Tata Chemicals and Tata Steel will unveil their October-December 2014 results today, 6 February 2015.
HDFC Bank after market hours yesterday, 5 February 2015 said that the special committee of the bank, at its meeting held on 5 February 2015, inter alia, declared the closure of the issue period for the QIP on 5 February 2015. The committee approved the issue price of Rs 1,067 per equity share for the equity shares to be allotted to determined and approved eligible qualified institutional buyers (QIBs) in the QIP.
Separately, HDFC Bank after market hours yesterday, 5 February 2015 said that the special committee of the bank, at its meeting held on 5 February 2015, inter alia, declared the closure of the issue period for the ADR offering on 5 February 2015. The committee approved the issue price of $57.76 per ADR to be issued to eligible investors in the ADR offering.
Indusind Bank after market hours yesterday, 5 February 2015 said that it has on 5 February 2015 inaugurated a new branch in Chandigarh. The bank plans to further strengthen its presence and customer reach in Punjab and Haryana with more branches in the coming quarters. With the inauguration of a new branch, IndusInd Bank now has 9 branches in Chandigarh.
With respect to media reports titled "Advent leads race for Crompton arm," Crompton Greaves after market hours today, 5 February 2015, stated that the company has no information regarding the rumoured news.
With respect to media reports titled Adani, JSW in race for Rs. 350 cr. Project, JSW Steel replied that the company is not engaged in any port dredging operations. A group company 'JSW Infrastructure' is pursuing port related business and the company is in no way connected with that business, JSW Steel said.
Hindustan Copper reported 84.64% fall in net profit to Rs 10.59 crore on 42.14% fall in total income to Rs 257.17 crore in Q3 December 2014 over Q3 December 2013.
Godfrey Phillips India reported 84.95% fall in net profit to Rs 10.64 crore on 16.04% fall in total income from operations to Rs 537.58 crore in Q3 December 2014 over Q3 December 2013.
Automotive Axles reported 92.41% rise in net profit to Rs 5.58 crore on 53.9% rise in total income from operations (net) to Rs 205.34 crore in Q3 December 2014 over Q3 December 2013.
Apar Industries reported 82.4% fall in net profit to Rs 2.57 crore on 20.26% rise in total income from operations (net) to Rs 1298.79 crore in Q3 December 2014 over Q3 December 2013.
Greatship (India), a wholly owned subsidiary of The Great Eastern Shipping Company has taken delivery of a 2015 built 4000 dwt platform supply vessel, Greatship Prachi. Greatship Prachi is a DP2 vessel, capable of supporting offshore exploration and production and complies with the SPS Code 2008.
With the delivery of Greatship Prachi, Greatship (India) and its subsidiaries currently own and operate five PSVs, nine AHTSVs, two MPSSVs, six ROVSVs and three Jack up rigs and have one mobile offshore self-elevating jack up rig under construction in UAE.
With reference to media reports titled M&M, 2 others Vie for 19% in Pipavav Defence, Pipavav Defence and Offshore Engineering Company clarified that there are no negotiations/ agreements which the company has entered into which requires disclosure under clause 36 of the listing agreement. The company is not aware of any information that has not been announced, Pipavav Defence and Offshore Engineering Company said.
Suzlon Energy said that the Securities Issue Committee of the Board of Directors of the company has, at its meeting held yesterday, 5 February 2015, approved allotment of 13.59 equity shares of Rs 2 each, on conversion of 34,900 $546,916,000 Step-up Convertible Bonds due July 2019 worth $34,900,000 at a conversion price of Rs 15.46 per equity share with a fixed rate of exchange on conversion of Rs 60.225 to $1 in terms of the Information Memorandum dated 17 June 2014, pursuant to the conversion notices received from certain bondholders of the $546,916,000 Step-up Convertible Bonds due July 2019.
Rai Saheb Rekhchand Mohota Spinning & Weaving Mills said that the Board of Directors of the company at its meeting held yesterday, 5 February 2015, has decided to issue one bonus share for every six held.
SML Isuzu's sales rose 28.07% to 771 vehicles in January 2015 over January 2014.
Shares of Crompton Greaves turn ex-dividend today, 6 February 2015 for an interim dividend of Rs 0.40 per share for the year ending 31 March 2015.
Shares of Marico turn ex-dividend today, 6 February 2015 for second interim dividend of Rs 1.50 per share for the year ending 31 March 2015.
Shares of TVS Motor Company turn ex-dividend today, 6 February 2015 for interim dividend of Rs 0.75 per share for the year ending 31 March 2015.
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