Tata Power Company reported consolidated net profit of Rs 159.14 crore in Q4 March 2015 compared with consolidated net loss of Rs 145.33 crore in Q4 March 2014. Total income fell 8.12% to Rs 8227.14 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 19 May 2015.
Net profit in Q4 March 2015 was up at Rs 159 crore mainly due to lower depreciation & lower coal prices in CGPL and better performance of Mumbai operations. The profits for the quarter also include adverse forex impact at the South African Joint Venture-Cennergi. The impact of lower coal price realization were offset by better operational efficiencies of coal mines as well as forex gains on value added tax (VAT) related settlement during the year. Operating profit rose 28% at Rs 1408 crore in Q4 March 2015 over Q4 March 2014.
Reliance Industries (RIL) will be in focus. With respect to media reports titled "Reliance Jio turns to China for cheap phones ahead of 4G rollout", Reliance Industries after market hours yesterday, 19 May 2015, clarified that the company is working with multiple Indian and global manufacturers to test their devices on the company's network.
Tech Mahindra announced that it will build an Intelligent Electric Vehicle Charging System (IEVCS) designed to help build Ontario's clean energy future. The project, sponsored by the Ministry of Energy and funded in part through the Ontario Smart Grid Fund initiative, will analyze the effects of electric vehicle charging on transformers by creating a real time transformer monitoring and analytics solution. The key benefit of the solution is the real time monitoring of the transformers and the ability to automatically manage the charging between vehicles to ensure the transformers do not overload as a result of EV charging.
This innovation will use cutting edge techniques in data sciences and embedded systems for the smart grid industry. The highly customizable and scalable platform is set to help utilities reduce their total operating cost.
During the two-year project, Tech Mahindra, along with its partners, will develop and design a reliable distribution system for electric vehicles. This system will manage the load profiles of participant EV's by queuing their charging to prevent transformer overloading, while keeping participants' information private.
Tech Mahindra's IEVCS project comes at a time when the company is actively promoting new ideas and technologies. In February 2015, Tech Mahindra announced plans to invest $150 million over the next three to four years to create innovative solutions and develop next-generation technologies
Glenmark Pharmaceuticals will be in focus after the Reserve Bank of India (RBI) after trading hours yesterday, 19 May 2015, notified increase in the limit for the purchase of equity shares of the company by foreign institutional investors (FIIs) under the portfolio investment scheme to 49% of the company's paid up capital from earlier 40%. The total FII holding in Glenmark Pharmaceuticals stood at 34.71% as per the shareholding pattern as on 31 March 2015.
Tata Steel unveils Q4 results today, 20 May 2015.
Syndicate Bank said that the Board of Directors of the bank at its meeting held on 18 May 2015, has approved to raise equity capital of Rs 2000 crore including premium to be decided as per the guidelines by way of Qualified Institutional Placement (Domestic & Foreign financial institutions)/Rights Issue /Follow on Public /or any other mode approved by Reserve Bank of India / Government of India, at an appropriate time.
The board also approved to raise Basel III Complaint Additional Tier I bonds upto Rs 1800 crore and Tier II bonds upto Rs 1750 crore as per eligibility at an appropriate time.
Century Plyboards (India) said that shareholding of the company in its associate company viz Century Infotech has increased from 50% to 75% on 19 May 2015. Consequently Century Infotech has become a subsidiary of the company with effect from 19 May 2015.
Shares of Housing Development and Infrastructure (HDIL) will be in focus. With respect to media report titled HDIL in talks to sell 200 acre land in Vadodara, Hyderabad, HDIL after market hours yesterday, 19 May 2015 clarified that at present the company has not entered into any agreements to sell land in Vadodara, Hyderabad or finalised such transactions. Further, the company is carrying business of real estate and hence buying and selling of land are integral part of its day to day business activities, HDIL said.
HEG said that India Ratings & Research (Ind-Ra) has assigned the company's Rs 100 crore commercial paper 'IND A1+' rating. The commercial paper will be used to fund the working capital requirements.
Gujarat Gas (formerly known as GSPC Distribution Networks) has fixed 28 May 2015 as record date for the purpose of determining the names of the shareholders of Gujarat Gas Company, the erstwhile Gujarat Gas Financial Services and erstwhile GSPC Gas Company, who would be entitled to receive equity shares of Gujarat Gas (formerly known as GSPC Distribution Networks) for their equity shares held, pursuant to the Scheme
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