M&M in focus after product launch

Mahindra & Mahindra (M&M) on Monday, 6 May 2013, launched 'Bolero Maxi Truck Plus' (BMT Plus). The Bolero Maxi Truck Plus is conceptualized to cater to the needs of urban goods transportation. It is powered by Mahindra's 2523 cc common-rail engine, which delivers 17.7 km per litre mileage.

Speaking on the launch, Pravin Shah, Chief Executive, Automotive Division, M&M, said, "The Indian pick-up market is growing more rapidly than ever before and Mahindra has been leading this category (2-3.5 Ton GVW LCV segment) with a 54% market share during the year ended 31 March 2013. We have continuously updated and evolved our products to deliver greater value to our customers while retaining the basic tough and rugged DNA associated with Mahindra vehicles." He further added, "The Bolero Maxi Truck Plus is aimed to cater to the transportation needs of the discerning urban city customer and will also meet the growing needs of current customers who want to upgrade and earn more. We are sure that the stylish new advanced Bolero Maxi Truck Plus will strengthen our Pickup portfolio and help consolidate our market share in this segment."

Software service major Infosys is reportedly set to enter education and training business. According to the report, Infosys plans to hive off the Mysore campus popularly known as a global education centre into a separate business arm. Essentially this arm will be into IT and BPO training and will provide services to employees across the IT sector. Official details for this arm will be finalised by around July-August, report added.

Godrej Properties said its board will meet on 9 May 2013, to consider the issue of equity shares of the company on a rights basis.

The board of Emami has recommended issuing bonus shares in ratio of one equity share for every two existing equity share held (1:2), subject to approval of members. The approval of the members will be sought through a postal ballot process.

Net profit of Emami rose 38.89% to Rs 91.14 crore in the quarter ended March 2013 as against Rs 65.62 crore during the previous quarter ended March 2012. Sales rose 13.86% to Rs 423.12 crore in the quarter ended March 2013 as against Rs 371.63 crore during the previous quarter ended March 2012.

Tata Teleservices (Maharashtra) (TTML) will be watched after the Securities and Exchange Board of India (Sebi) has provided some relaxation to the offer for sale (OFS) norms to help TTML achieve minimum public shareholding. The regulator has relaxed the maximum allocation limit of 25% of the size to a single investor. It has also permitted the company to undertake two successive offers with a gap of minimum three days and has also relaxed restrictions with respect to the twelve week cooling off period. Promoters of TTML, who currently own 77.72% stake, are planning to sell their shares using the OFS route.

The promoter group of the company is allowed to sell the shares of the company up to 1% of the total paid-up share capital of the company on the floor of the stock exchange subject to certain conditions prescribed in the letter, TTML said in a filing.

Den Networks said it plans to allot shares to Broad Street Investments (Singapore) and MBD Bridge Street 2013 Investments (Singapore), (affiliates of the Goldman Sachs Group) on on a preferential basis at Rs 217.50 each aggregating to $110 million. Besides, the firm will issue further shares through a qualified institutional placements (QIP) route at Rs 217.23 each. The company did not disclose the targeted amount, or the quantum of shares to be issued under the QIP.

Bharat Forge said it redeemed Foreign Currency Convertible Bonds (FCCBs) (Tranche B ), aggregating to $62.43 million (which includes principal of $39.90 million and redemption premium of $22.53 million). The company had issued these FCCBs to finance capital expenditure and global acquisitions.

Net profit of Lanco Industries rose 0.93% to Rs 14.13 crore in the quarter ended March 2013 as against Rs 14.00 crore during the previous quarter ended March 2012. Sales rose 12.30% to Rs 232.85 crore in the quarter ended March 2013 as against Rs 207.35 crore during the previous quarter ended March 2012.

PC Jeweller said it will open its thirty-fifth showroom at Hisar in Haryana on Wednesday, 8 May 2013.

SML Isuzu sold 731 vehicles during April 2013 as against 609 vehicles sold in April 2012.

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