Wonderla Holidays debuts on the secondary equity market today, 9 May 2014. The company had priced the initial public offer (IPO) at the top end of the Rs 115 to Rs 125 price band.
On a consolidated basis, Glenmark Pharmaceuticals' net profit slumped 75% to Rs 43.07 crore on 27.1% increase in total income to Rs 1691.49 crore in Q4 March 2014 over Q4 March 2013. The net profit is not comparable due to exceptional item of Rs 217.53 crore on account of the provision made by Glenmark Generics Inc., USA towards the claims (including incidental expenses) of Abbott Laboratories in the patent litigation in respect of "TARKA".
We have reported another year of strong growth fuelled by good performances across our key markets like the US, India and Europe; including our API business. Infact, we have consistently grown our topline by over 20% year on year for the past three years, said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Ltd. We have also made steady progress on our innovation pipeline especially on the novel biologics front; one of the highlights being GBR 900 - the first anti-TrkA monoclonal anti-body to enter clinical development, he added.
Ranbaxy Laboratories, GlaxoSmithkline Consumer Healthcare, Eicher Motors and Coromandel International, among others, will announce their January-March 2014 quarter results today, 9 May 2014.
Bharat Forge said that its German step down subsidiary, Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT), won a prestigious multiyear contract worth approximately EURO 250 million from a German OEM for supply of suspension components.
Bank of Maharashtra said that its board will meet on 13 May 2014, to consider the matter of conversion of Perpetual Non-Cumulative Preference Shares (PNCPS) of Rs 588 crore held by Government of India into equity shares.
Shree Renuka Sugars has entered into agreements/Term Sheets for sale of 38.02 lakh equity shares of National Commodity & Derivatives Exchange (NCDEX), representing 7.5% of paid-up capital of NCDEX for a total sale consideration aggregating to Rs 66.54 crore, subject to necessary approvals of NCDEX board and Forward Markets Commission. Subsequent to the closure of the transaction, the company's stake shall stand reduced from 12.5% to 5% in NCDEX.
Financial Technologies (India) (FTIL) said it is distressed at the arrest of its CMD, Mr. Jignesh Shah by the Mumbai Police, despite Mr. Shah co-operating fully not only with the Mumbai Police but also with all other authorities, ever since the NSEL crisis surfaced in August 2013. The Company has full faith in the judicial system and is confident that Justice will be done in the case of Mr. Shah. The company will continue to extend its full co-operation and support to all the authorities.
In the meanwhile, the board at its meeting held on Thursday, has decided that Mr. Venkat Chary, independent non-executive director shall be Independent, Non-Executive Chairman of the Board. In the interim, the existing two Whole-Time Directors of the company shall be in charge of the day to day affairs.
As informed earlier, the FTIL board will meet on 10 May 2014 to take stock of the divestment in MCX. The board would like to assure all the customers, employees, shareholders and stakeholders that the functioning of the Company shall be carried out as business as usual and the interest of all shall be duly protected.
OnMobile Global said it has appointed Jacks Sterenfeld as Vice President for Latin America.
Net profit of Sintex Industries rose 1.24% to Rs 165.03 crore in the quarter ended March 2014 as against Rs 163.01 crore during the previous quarter ended March 2013. Sales rose 10.25% to Rs 1022.91 crore in the quarter ended March 2014 as against Rs 927.77 crore during the previous quarter ended March 2013.
Net profit of Amtek India rose 45.28% to Rs 62.66 crore in the quarter ended March 2014 as against Rs 43.13 crore during the previous quarter ended March 2013. Sales rose 71.94% to Rs 704.80 crore in the quarter ended March 2014 as against Rs 409.92 crore during the previous quarter ended March 2013.
Net profit of Ahmednagar Forgings rose 46.05% to Rs 55.53 crore in the quarter ended March 2014 as against Rs 38.02 crore during the previous quarter ended March 2013. Sales rose 88.00% to Rs 563.26 crore in the quarter ended March 2014 as against Rs 299.60 crore during the previous quarter ended March 2013.
Zuari Global reported net loss of Rs 27.41 crore in the quarter ended March 2014 as against net profit of Rs 1.46 crore during the previous quarter ended March 2013. Sales rose 398.90% to Rs 112.95 crore in the quarter ended March 2014 as against Rs 22.64 crore during the previous quarter ended March 2013.
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