Tata Motors' consolidated net profit surged 988.6% to Rs 1214.60 crore on 16% growth in net sales to Rs 74156.07 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 5 February 2018.
Tata Motors and Warburg Pincus mutually decide to call off the transaction in Tata Technologies. As per the transaction announced on 15 June 2017, Warburg Pincus was to acquire approximately 43% stake in Tata Technologies from Tata Motors and other Tata entities. However, due to delays in securing regulatory approvals as well as due to the recent performance of the company not meeting internal thresholds because of market challenges, the parties to the transaction have mutually decided not to proceed with closure of the transaction. Tata Motors will continue to explore strategic options to sell its stake in Tata Technologies and remains positive on the outlook of the business.
Oil India announced that its board will also consider a proposal of issuing bonus shares in the meeting scheduled on 9 February 2018 when the company is scheduled to announce Q3 December 2017 results. The announcement was made after market hours yesterday, 5 February 2018.
Among prominent companies, Hero MotoCorp and Lupin are scheduled to announce Q3 December 2017 results today, 6 February 2018.
Moil said that its board approved the proposal to buyback upto 87.66 lakh equity shares of the company, representing 3.29% of the total number of equity shares in the paid-up share capital of the company, at Rs 240 per equity share of face value of Rs 10 each payable in cash for an aggregate consideration not exceeding Rs 210.40 crore. The board noted the intention of the promoter of the company to participate in the proposed buyback. The announcement was made after market hours yesterday, 5 February 2018.
Endurance Technologies said that the company has initiated setting up of a plant at its plot of land admeasuring over 7 acre at Karinayakanahalli Village, Kasaba Hobli, Malur Taluka, Kolar District, taken on lease-cum-sale basis from Karnataka Industrial Areas Development Board (KIADB). The company shall manufacture its suspension product range at the said plant from the third quarter of 2018-19, to cater predominantly to one of its leading OEM customers' situated in the vicinity. The announcement was made after market hours yesterday, 5 February 2018.
Sheela Foam's consolidated net profit fell 7.48% to Rs 39.11 crore on 10.1% growth in total income to Rs 536.64 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 5 February 2018.
Mcleod Russel India's net profit jumped 185.73% to Rs 67.49 crore on 35.68% growth in total income to Rs 649.03 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 5 February 2018.
LA OPALA RG said that its board recommended issuing one bonus share for one existing equity shares held in the company as on the record date, to be fixed separately subject to shareholders and other regulatory approvals as may be required. The announcement was made after market hours yesterday, 5 February 2018.
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