Shares of interest rate sensitive sectors such as banks, automobile and real estate will be in focus ahead of the Reserve Bank of India (RBI)'s monetary policy review due today, 2 December 2014.
Hero MotoCorp's total motorcycle sales rose 3.18% to 5.47 lakh units in November 2014 over November 2013. In November 2014, Hero MotoCorp also launched its operations in Colombia. The company introduced six of its best-selling motorcycles through a network of 120 outlets. Hero plans to expand its distribution network to over 150 outlets in a year's time. In the same month, Hero MotoCorp also rolled out the new sportier version of its 150-cc motorcycle - 'Xtreme'. In October 2014, the state-of-the-art IGBC-certified platinum-class manufacturing plant - 'Garden Factory' - of Hero MotoCorp Ltd went on stream at Neemrana in Rajasthan.
Tata Motors after trading hours yesterday, 1 December 2014, said its total sales rose 2.09% at 41,720 units in November 2014 over November 2013. The company's domestic sales of Tata commercial and passenger vehicles for November 2014 at 37,427 units remained flat. Tata Motors' total exports jumped 17% to 4,293 units in November 2014 over November 2013. The company's sales of commercial vehicles in the domestic market declined 5% at 25,406 units in November 2014 over November 2013. Sales of medium and heavy commercial vehicles (M&HCV) jumped 39% at 9,452 units in November 2014 over November 2013. Sales of light commercial vehicles (LCVs) fell 20% at 15,954 units in November 2014 over November 2013. The trend of growth in passenger vehicles continued, with the strong Zest and Nano sales in November 2014, Tata Motors said.
Shares of car makers will be in focus after the Minister of State for Road Transport and Highways, Pon. Radhakrishnan informed the Rajya Sabha yesterday, 1 December 2014, that the government is planning to mandate the offset frontal crash test and side impact crash test norms for passenger cars. For this requisite test, facilities are being built under National Automotive Testing and Research and Development Infrastructure Project (NATRIP) initiative, he said. Once these facilities are ready, the regulations will be implemented. To meet these regulations, majority of car manufacturers will be required to use several safety devices, including air bags.
Sun Pharmaceutical Industries clarified, in the matter of the Scheme of Arrangement between Ranbaxy Laboratories and Sun Pharmaceutical Industries that the company has neither received any final order from Competition Commission of India (CCI) on the Transaction, nor has there been any rejection of the Transaction by CCI. The CCI has been seeking additional information and detailed clarifications with respect to specific aspects of the products for the purpose of making its assessment. The company said it sees the process nearing its logical closure, the company said.
Sun Pharma Advanced Research Company (SPARC) announced that the US Food and Drug Administration (FDA) has issued a Complete Response letter to its New Drug Application (NDA) for Latanoprost BAK-free eyedrops. While the FDA did not seek any additional information for supporting clinical data, it sought additional information on certain labeling and other deficiencies for processing the NDA. SPARC believes that this additional information request from the FDA can be addressed on priority.
Infosys turns ex-bonus today, 2 December 2014, for 1:1 bonus issue.
IRB Infrastructure Developers announced after market hours yesterday, 1 December 2014, that Pathankot Amritsar build, operate & transfer (BOT) project implemented by wholly-owned special purpose vehicle (SPV) of the company viz. IRB Pathankot Amritsar Toll Road (SPV), has been issued a Provisional Certificate by the competent authority effective 27 November 2014. Consequently, the SPV has started toll collection on this project effective from 28 November 2014. The project involved four-lanning of Pathankot to Amritsar Section of NH -15 from km 6.082 to km 108.502 in the State of Punjab under NHDP phase III on BOT (Toll) basis. The concession period is 20 years. The estimated cost of the project is Rs 1445 crore. The company had bagged this project on Viability Gap Funding (VGF) basis and sought VGF of Rs 126.90 crore from NHAI.
With reference to the news item regarding "JSW Steel to acquire Bhushan Steel Odisha Steel unit", Bhushan Steel has clarified after market hours yesterday, 1 December 2014, that no negotiation with JSW or any other buyer has taken place. The company has denied any such development. The company is not aware of any development in this connection therefore not required to file information under clause 36 of the Listing Agreement.
With reference to the news titled "PVR in negotiations to acquire SPI Cinemas", PVR has clarified after market hours yesterday, 1 December 2014, that the company is not aware of any negotiations or transactions including any negotiation or transaction with SPI Cinemas that require disclosure under Clause 36 of the Listing Agreement. As part of its continuing business strategy to look for growth opportunities, the company is constantly on the look out for and in discussions with potential partners in various capacities to further its business. The company will make the necessary disclosure as and when any concrete alliance or transaction emerges out of such discussions. Further, the company not aware of any other information not disclosed to the stock exchanges which could explain the aforesaid movement in the trading of the shares of the company, PVR added.
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