On a consolidated basis, Tata Steel posted net loss of Rs 5674.29 crore in Q4 March 2015 as compared to net profit of Rs 1035.87 crore in Q4 March 2014. The result was announced after market hours yesterday, 20 May 2015. Total income from operations (net) fell 20.65% to Rs 33666.18 crore in Q4 March 2015 over Q4 March 2014. Total exceptional expense surged to Rs 4811.20 crore in Q4 March 2015 from Rs 45.84 crore in Q4 March 2014. The exceptional expense included non-cash write down of goodwill and other assets in certain nonperforming business units with the group, primarily relating to European operations and the group's investments in coal assets.
With reference to the news captioned "Tata steel in talk to buy visa steel", Tata Steel clarified after market hours yesterday, 20 May 2015, the company as part of its business strategy regularly evaluates organic and inorganic growth opportunities across various segments of its operations. The board and management of Tata Steel are committed to making disclosures at the appropriate time and that clarified that currently there has been no event that requires a disclosure under Clause 36 of the listing agreement.
Bajaj Auto announces Q4 results today, 21 May 2015.
Crompton Greaves announced after trading hours yesterday, 20 May 2015, that the production at the Nasik factory of the company has been disrupted by a faction of employees of the unrecognised union by company, opposing the wage settlement reached by the management with the recognised union earlier this year in accordance with law and in terms of the specific order of the industrial court in Nasik which had directed the management not to negotiate with any trade union on any issue other than a recognised union. Crompton Greaves said that the action of the unrecognised union is in violation of the order of the industrial court in Nasik.
Crompton Greaves further said that all the necessary measures have been undertaken to guarantee the safety of employees, who have chosen not to take part in the action against the company's assets and assets of third parties in the company's premises. The company has always acted in the interest of the workmen and within the framework of the law and has urged the disruptive workmen to return to work. The management continues to work with the appropriate authorities for ending the stalemate and normalise production, the company said. In the meanwhile the company has activated its contingency plans in line with business continuity management processes intended to ensure that there is minimum disruption of orders from customers, Crompton Greaves said.
DLF said before market hours that consolidated net profit fell 21.87% to Rs 171.62 crore on 16.67% decline in total income to Rs 2101.16 crore in Q4 March 2015 over Q4 March 2014.
Shares of Yes Bank turn ex-dividend today, 21 May 2015 for final dividend of Rs 9 per share for the year ended 31 March 2015.
On a consolidated basis, Bajaj Finserv's net profit slipped 0.07% to Rs 707.12 crore on 17.07% rise in total income to Rs 2406.65 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 20 May 2015. Bajaj Finserv said that the company recorded its highest ever consolidated profit in Q4 March 2015.
Bajaj Finserv said that the conditions continue to be challenging for the financial sector as a whole. Under such circumstances, the strong growth delivered by Bajaj Finance and Bajaj Allianz General Insurance Company (BALIC) is a testimony to the resilience of the group as well as the quality of the management across these enterprises. BALIC, which faced challenges in coping with significant changes in market dynamics, has improved on its new businesses, Bajaj Finserv said.
Indian Oil Corporation will be in focus. With respect to media reports titled "Indian Oil Corp to own 45% stake in Ennore LNG's Tamil Nadu terminal", Indian Oil Corporation after market hours yesterday, 20 May 2015, clarified that as per the company's earlier clarification on 5 January 2015, the company's board at its meeting held in October 2014 had accorded approval for setting up a 5 million tonne LNG project at Ennore through a joint venture company. The cost of the project is estimated at Rs 5150 crore. The project would be implemented through a joint venture company and not directly by the company, Indian Oil Corporation said. Indian Oil Corporation will hold 45% equity stake, TIDCO (a Tamil Nadu state government enterprise) will own 5% stake and balance 50% will be held by financial institutions. Indian Oil Corporation clarified that no significant or material development has taken place with respect to this project after this clarification issued by the company on 5 January 2015.
Reliance Communications will be in focus. With respect to media reports titled "Reliance Communications tower sale said to draw ATC", Reliance Communications after market hours yesterday, 20 May 2015, said that the company had informed the stock exchange on 6 May 2015 that the company has invited certain investment banks to make proposals for running a process to monetise the valuable tower and fiber assets held in its subsidiary viz. Reliance Infratel within the current financial year. There is no change in the aforesaid status and the company remains engaged in such discussions, Reliance Communications said. The company will make further disclosures as and when these developments lead to a disclosable event, RCom said.
DCW said that commercial production of Synthetic Iron Oxide Pigments has started at the company's factory situated at Sahupuram, Tamilnadu on 20 May 2015.
JB Chemicals & Pharmaceuticals said that the board of directors of the company at its meeting held yesterday, 20 May 2015, has recommended a dividend of Rs 14 per equity comprising of special dividend of Rs 10 per share and regular dividend of Rs 4 per share for the year ended 31 March 2015.
IRB Infrastructure Developers said before market hours that it has bagged Rs 2650 crore Agra-Etawah Bypass project from NHAI. The concession period of the project is 24 years. The construction period is 910.days.
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