·Ajanta Pharma Q3 net profit up 36% (YoY)
Ajanta Pharma has announced the following Unaudited Standalone results for the quarter ended December 31, 2014 . Net Profit of the company rose by 35.70% to Rs84.71 crore Vs Rs62.42 crore (YoY).
Total Income increased by 20.97% to Rs368.84 crore Vs Rs304.88 crore (YoY).Ajanta Pharma also informed that the Board of Directors of the Company at its meeting held on January 28, 2015, has approved sub-division of nominal value of equity shares of the Company from Rs5 each to nominal value of Rs2 each and consequential amendment to the Memorandum of Association and Articles of Association, subject to approval of Members of the Company to be taken by postal ballot.
·JP Power likely to default on payments for convertible bonds
Jaiprakash Power Ventures said it was likely to default on payments for convertible bonds worth $200 million due on February 13 this year, as it could not generate enough revenue from its operations.
Jaiprakash, which has been weighed down by debts and a sharp downturn in the performance of the Indian power sector, said in a statement on Wednesday the company was confident of its ability to pay its dues under the bonds by March 31, 2016.
·GMR Infra arm raises funds via bonds
GMR Infrastructure announced that its subsidiary, Delhi International Airport has successfully raised US$288,750,000 in the international bond market. DIAL has entered into a Purchase Agreement to issue and allot US$288,750,000 in principal amount of 6.125% senior secured fixed rate notes due 2022. The proceeds from the Notes will be used to refinance one of the current outstanding External Commercial Borrowing ( ECB).
·Cyient secures prestigious 2014 Supplier Innovation Award
Cyient announced that it was awarded the 2014 Supplier Innovation Award at the annual supplier event held in East Hartford, Connecticut, USA and hosted by the Global Engineering Sourcing Group of Pratt & Whitney, a division of United Technologies Corporation. This is the third win and second consecutive time when this honour was bestowed on Cyient.
·Maruti Suzuki to dedicate capacity of 100,000 at its Gurgaon plant
Maruti Suzuki aims to dedicate a capacity of up to 100,000 at its Gurgaon plant to a new light commercial vehicle (LCV). Likely to be called the ‘Super Carry’, the LCV will be launched in the April-June quarter.
According to industry, the Super Carry would first be launched with an 800 cc diesel engine, and a CNG variant powered by a 1.2 litre engine next year. For the first year, Maruti has provided a production target of 80,000 LCVs to suppliers, which indicates a monthly volume of nearly 7,000. Positive for the stock.
·Symphony to launch new air cooler for Indian market
Symphony Limited to launch new air cooler specially for Indian market: Positive for the company.The Company has come out with new range of cooler with capacity of 4,6,10 and 12 tonne which will be largely used by small industries, larges houses and also commercial complex’s. Currently it will be imported from Mexico, post April 2015 it will be full manufactured in India with technical expertise from Impco (Wholly owned subsidiary of Symphony limited).
·McNally to consider fund raising via preferential allotment
McNally Bharat Engineering Company has announced that a meeting of the Board of Directors of the Company will be held on February 02, 2015, to consider a proposal for raising Equity Capital through Preferential Allotment Basis.
·MBL Infrastructures led consortium bags NHDP project
MBL Infrastructures announced that a consortium led by the Company has been awarded the following NHDP Project on EPC basis -Rehabilitation and upgradation of Pundibari to Baxirhat (WB/ Assam Border) section of NH-31 from km 77 to 816 of NH-31 in state of West Bengal to two lanes with paved shoulders under NHDP - IV on EPC basis, worth Rs279.85 crore, with a construction period of 2 years.
Ajanta Pharma has announced the following Unaudited Standalone results for the quarter ended December 31, 2014 . Net Profit of the company rose by 35.70% to Rs84.71 crore Vs Rs62.42 crore (YoY).
Total Income increased by 20.97% to Rs368.84 crore Vs Rs304.88 crore (YoY).Ajanta Pharma also informed that the Board of Directors of the Company at its meeting held on January 28, 2015, has approved sub-division of nominal value of equity shares of the Company from Rs5 each to nominal value of Rs2 each and consequential amendment to the Memorandum of Association and Articles of Association, subject to approval of Members of the Company to be taken by postal ballot.
·JP Power likely to default on payments for convertible bonds
Jaiprakash Power Ventures said it was likely to default on payments for convertible bonds worth $200 million due on February 13 this year, as it could not generate enough revenue from its operations.
Jaiprakash, which has been weighed down by debts and a sharp downturn in the performance of the Indian power sector, said in a statement on Wednesday the company was confident of its ability to pay its dues under the bonds by March 31, 2016.
·GMR Infra arm raises funds via bonds
GMR Infrastructure announced that its subsidiary, Delhi International Airport has successfully raised US$288,750,000 in the international bond market. DIAL has entered into a Purchase Agreement to issue and allot US$288,750,000 in principal amount of 6.125% senior secured fixed rate notes due 2022. The proceeds from the Notes will be used to refinance one of the current outstanding External Commercial Borrowing ( ECB).
·Cyient secures prestigious 2014 Supplier Innovation Award
Cyient announced that it was awarded the 2014 Supplier Innovation Award at the annual supplier event held in East Hartford, Connecticut, USA and hosted by the Global Engineering Sourcing Group of Pratt & Whitney, a division of United Technologies Corporation. This is the third win and second consecutive time when this honour was bestowed on Cyient.
·Maruti Suzuki to dedicate capacity of 100,000 at its Gurgaon plant
Maruti Suzuki aims to dedicate a capacity of up to 100,000 at its Gurgaon plant to a new light commercial vehicle (LCV). Likely to be called the ‘Super Carry’, the LCV will be launched in the April-June quarter.
According to industry, the Super Carry would first be launched with an 800 cc diesel engine, and a CNG variant powered by a 1.2 litre engine next year. For the first year, Maruti has provided a production target of 80,000 LCVs to suppliers, which indicates a monthly volume of nearly 7,000. Positive for the stock.
·Symphony to launch new air cooler for Indian market
Symphony Limited to launch new air cooler specially for Indian market: Positive for the company.The Company has come out with new range of cooler with capacity of 4,6,10 and 12 tonne which will be largely used by small industries, larges houses and also commercial complex’s. Currently it will be imported from Mexico, post April 2015 it will be full manufactured in India with technical expertise from Impco (Wholly owned subsidiary of Symphony limited).
·McNally to consider fund raising via preferential allotment
McNally Bharat Engineering Company has announced that a meeting of the Board of Directors of the Company will be held on February 02, 2015, to consider a proposal for raising Equity Capital through Preferential Allotment Basis.
·MBL Infrastructures led consortium bags NHDP project
MBL Infrastructures announced that a consortium led by the Company has been awarded the following NHDP Project on EPC basis -Rehabilitation and upgradation of Pundibari to Baxirhat (WB/ Assam Border) section of NH-31 from km 77 to 816 of NH-31 in state of West Bengal to two lanes with paved shoulders under NHDP - IV on EPC basis, worth Rs279.85 crore, with a construction period of 2 years.
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