Hero MotoCorp recorded 11.5% growth in sales to 5,20,272 units in January 2012 over January 2011. Commenting on the performance, Anil Dua, Senior Vice-President (Marketing & Sales), Hero MotoCorp said, We have made a good beginning to the new year with our January performance. We are pleased with the trend of five lakh-plus unit sales every month for the past six months, and we are confident of building further on these numbers.
An Empowered Group of Ministers (EGoM) is scheduled to meet today, 2 February 2012 to take a call on the modus operandi and timing of divesting equity in ONGC and Bhel worth Rs 15,000-17,000 crore. The EGoM is likely to consider various options, including offer for sale of shares through stock exchanges, reports added.
Telecom stocks may see action ahead of the Supreme Courts verdict today, 2 February 2012 on whether 2G spectrum licences granted to several companies in 2008 should be revoked, in the latest judgement in one of the countrys biggest-ever corruption scandals.
HCL Technologies may be reportedly eyeing a majority stake in EXL services and has already completed due diligence for it. Oak Hill and Blackrock which holds 36.5% and 11.3% respectively are likely to exit from EXL Services. EXL Services has filed with SEC for share sale by its shareholders.
Mahindra Satyams consolidated net profit rose 29.46% to Rs 308.43 crore on 11.63% rise in total income to Rs 1869.35 crore in Q3 December 2011 over Q2 September 2011.
GIC Real Estate, a part of Singapore governments sovereign fund GIC, is reportedly investing over $100 million in a Godrej Properties office project in Mumbais Bandra Kurla Complex.
Dena Bank has scheduled a board meeting on 6 February 2012, to consider issuance of equity shares to insurance companies and Government sponsored mutual funds, on a preferential basis.
Binani Industries wholly owned subsidiary the Glass Fibre Holding I SarI (SPV) incorporated in Luxembourg has acquired Project Bird Holdings group of companies in Luxembourg at a total cost of Euro 275 million which owns operating facilities in Norway and Belgium under the name of 38 for the manufacture of FibreGlass.
Net profit of Ashok Leyland rose 54.25% to Rs 66.90 crore in the quarter ended December 2011 as against Rs 43.37 crore during the previous quarter ended December 2010. Sales rose 29.30% to Rs 2879.80 crore in the quarter ended December 2011 as against Rs 2227.25 crore during the previous quarter ended December 2010.
Net profit of Tube Investments of India declined 47.64% to Rs 27.17 crore in the quarter ended December 2011 as against Rs 51.89 crore during the previous quarter ended December 2010. Sales rose 16.79% to Rs 874.58 crore in the quarter ended December 2011 as against Rs 748.86 crore during the previous quarter ended December 2010.
Net profit of Zylog Systems rose 27.91% to Rs 45.05 crore in the quarter ended December 2011 as against Rs 35.22 crore during the previous quarter ended December 2010. Sales rose 34.56% to Rs 309.49 crore in the quarter ended December 2011 as against Rs 230.00 crore during the previous quarter ended December 2010.
Net profit of Petron Engineering Construction rose 16.57% to Rs 8.37 crore in the quarter ended December 2011 as against Rs 7.18 crore during the previous quarter ended December 2010. Sales rose 57.76% to Rs 179.56 crore in the quarter ended December 2011 as against Rs 113.82 crore during the previous quarter ended December 2010.
Sun Pharma Advanced Research Company reported net loss of Rs 17.90 crore in the quarter ended December 2011 as against net loss of Rs 2.94 crore during the previous quarter ended December 2010. Sales declined 62.94% to Rs 4.51 crore in the quarter ended December 2011 as against Rs 12.17 crore during the previous quarter ended December 2010.
Welspun Corp reported net loss of Rs 92.82 crore in the quarter ended December 2011 as against net profit of Rs 65.17 crore during the previous quarter ended December 2010. Sales rose 22.03% to Rs 1385.23 crore in the quarter ended December 2011 as against Rs 1135.18 crore during the previous quarter ended December 2010.
Net profit of Prestige Estates Projects declined 48.37% to Rs 28.07 crore in the quarter ended December 2011 as against Rs 54.37 crore during the previous quarter ended December 2010. Sales declined 54.11% to Rs 166.86 crore in the quarter ended December 2011 as against Rs 363.58 crore during the previous quarter ended December 2010.
Net profit of Aarti Drugs declined 4.18% to Rs 4.81 crore in the quarter ended December 2011 as against Rs 5.02 crore during the previous quarter ended December 2010. Sales rose 14.00% to Rs 155.09 crore in the quarter ended December 2011 as against Rs 136.04 crore during the previous quarter ended December 2010.
Lloyds Steel Industries board of directors have approved issue of equity shares on preferential basis at Rs 11.65 per share to State Bank of India (4,92,61,802 shares against part conversion of their existing loan), Shree Global Tradefin (Promoter Group) (3,20,00,000 shares), Ultimate logistics Solutions. (Non Promoter) (8,15,00,000 shares), and Siddharth Holdings (Non Promoter) (8,15,00,000 shares).
Finolex Cables board of directors has approved investment of about Rs 80 crore towards increase/rebalancing of capacities for manufacture of various wire and cable products at its manufacturing units at Roorkee and Urse to be done by the company over the next two financial years.
Steel Strips Wheels has achieved sales of 8.67 lakh steel wheel rims during the month of January, 2012 as against 8.55 lakh steel wheel rims during the month of January, 2011, recording a growth of 1.40%. The company have also achieved highest sale of Truck Wheel Rims in a single month. Further the company has achieved the Export Sales of 68480 wheel rims during the month of January, 2012 as against 87779 wheel rims during the month of January, 2011.
Andhra Bank, Corporation Bank, EIH, Escorts, Hexaware Technologies, Piramal Healthcare, Marico and Thermax among others will declare their September - December 2011 quarterly results today, 2 February 2012.
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