Siemens's net profit rose 192.77% to Rs 436.78 crore on 0.67% decline in total income to Rs 3250.29 crore in Q4 September 2014 over Q4 September 2013. Net profit rose 211% to Rs 603.18 crore on 5.45% decline in total income to Rs 10766.44 crore in the year ended September 2014 over the year ended September 2013. The result was announced after market hours yesterday, 25 November 2014.
For the financial year 2014 ended 30 September 2014 (FY 2014), Siemens registered New Orders of Rs 10323.80 crore compared to Rs 10957.30 crore in the financial year 2014 ended 30 September 2013 (FY 2013). Sales stood at Rs 10448.30 crore in FY 2014, compared to Rs 111452 crore in FY 2013. Volumes registered a decline of 6% as infrastructure spending continued to be sluggish and high interest rates continued to impact fresh capital expenditure projects in the manufacturing sector.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said, "Our volumes reflect the challenging macro-economic scenario that we have gone through in 2014, while our improved profitability reflects that the cost optimization and productivity measures introduced in 2013 have started to bear fruit."
Tech Mahindra after market hours yesterday, 25 November 2014, announced the launch of usage based insurance (UBI), a big data and predictive analysis driven platform for auto insurers. It allows them to adjust premiums according to actual usage patterns of individual drivers instead of industry averages. The platform is flexible to fit to the growing needs of global insurance enterprises, where the market is expected to grow $100 billion plus by the end of the decade, Tech Mahindra said in a statement.
Maruti Suzuki (India) after market hours yesterday, 25 November 2014, said its "Wagon R" car model has crossed the milestone of 15 lakh cumulative sales. The company sold around 1.56 lakh units of Wagon R in 2013-14, In the current year, Wagon R sales have already exceeded 93,000 units.
On the achievement of this milestone, Mr Manohar Bhat, Vice President (Marketing) said, "Launched in 2000, Wagon R has been amongst India's top 5 best-selling brands. With its space, features and comfort, Wagon R has been the choice of the "Smart customer" and consistently remained among India's most loved car brands."
Strengthened by regular up-gradations to meet customer expectations and successful marketing initiatives focusing on the core proposition of 'Smart' while staying true to its leadership stance, Wagon R continues to win the hearts of Indian car buyers.
Adding to its popularity, Maruti Suzuki expanded the Wagon R family by bringing the CNG trim in 2010-11. In cities like Delhi and Mumbai, where CNG is available, Wagon R CNG accounts for over 50% of sales. To keep excitement going, in 2013-14 Maruti Suzuki introduced Wagon R Stingray to the Wagon R portfolio.
Aurobindo Pharma's board of directors at its meeting held yesterday, 25 November 2014, inter alia, approved raising of the funds by the company through issue of securities upto an amount of $350 million or rupee equivalent thereof through follow on offer, qualified institutions placement, further public offer and/or private placement or by such other method subject to approval of the shareholders. The Board has constituted a Securities Issue Committee consisting five board members including two independent directors, to do all such acts, deeds, matters and things as may be required for issue of securities as they may deem fit in accordance with the applicable laws, Aurobindo Pharma said.
GMR Infrastructure (GIL) after market hours yesterday, 25 November 2014 said that a GIL led consortium has emerged as lowest bidder in international competitive bidding for two packages of Eastern Dedicated Freight Corridor project involving construction of 417 km long double track railway line from Mughalsarai to New Bhaupur (near Kanpur) on EPC basis. The Eastern Dedicated Freight Corridor extends from Ludhiana to Dankuni near Kolkata. Dedicated Freight Corridor Corporation of India (DFCCIL) received five bids for the project wherein the GIL led consortium quoted a price of Rs 5080 crore. The award of work will be subject to approval by DFCCIL.
As part of Asset Light Asset Right strategy, GMR Group is not required to provide any equity for the project since it is to be implemented on EPC basis. The project is financed by World Bank through DFCCIL. The project is to be completed in 45 months after award. GMR Infrastructure is currently implementing 2 railway projects for Rail Vikas Nigam (RVNL).
ICRA after market hours yesterday, 25 November 2014 said its board will meet on 4 December 2014 for general business and review of the company.
Omaxe after market hours yesterday, 25 November 2014 said that its board of directors will meet on 2 December 2014, inter alia, to consider and approve, issuance of secured non convertible redeemable debt securities (including secured non-convertible redeemable debentures) on private placement basis and to constitute and authorise committee for further actions.
Bhushan Steel will be watched. With respect to the news media report titled, "Bhushan Steel creditors ask to sell Odisha plant", Bhushan Steel clarified that it has not received any communication regarding selling of Odisha plant from any creditor, therefore the company is unable to comment on news item.
Edelweiss Financial Services after market hours yesterday, 25 November 2014 said that ICRA has assigned the rating of '[ICRA] A1+' (ICRA A one plus) to the proposed issue of commercial paper of Rs 5000 crore of the company.
Puravankara Projects will be watched. With respect to the news media report titled, "Puravankara initiates talks to buy land from Jaypee Infratech", Puravankara Projects after market hours yesterday, 25 November 2014 clarified that neither the company nor any of its subsidiaries / associates have been in talks with Jaypee Infratech or any other person for purchase of any land in NCR Region. Puravankara Projects said it is only considering Joint Development opportunities at this point.
Financial Technologies (India) (FTIL) before market hours today, 26 November 2014 said it has entered into a share and warrant purchase agreement with Dr. Rakesh Jhunjhunwala and separate warrant purchase agreements with Edelweiss Financial Services, Trust Investment Advisors, Ms. Viral A. Parikh, Nemish S. Shah H.U.F., Derive Investments, Mr. Kalpraj Dharamshi, Mr. Dhanesh Sumatilal Shah, Mr. Uday Shah, Ms. Madhuri Kela, Ms. Renuka Shah, SKS Capital & Research and Ms. Madhu Vadera Jayakumar for sale of its 100% stake in MCX-SX comprising of 2.70 crore equity shares and 56.24 crore warrants for an aggregate consideration of Rs 88.41 crore. The said transaction is subject to fulfillment of certain condition precedents including regulatory approvals. Post completion of the above said transaction, the company would have completely exited MCX-SX, FTIL said.
Meanwhile, the Minister of Corporate Affairs Arun Jaitley in a written reply said in Rajya Sabha yesterday, 25 November 2014 that the Government has issued only a Draft Order of merger/amalgamation of National Spot Exchange (NSEL) with FTIL in essential public interest under Section 396 of the Companies Act, 1956 on 21 October 2014. The final Order, if required, will be issued after the consideration of objections/suggestions to be submitted by the stakeholders on the Draft Order for which they have been given two months' time, Jaitley said.
Tata Coffee's baord of directors at its meeting held yesterday, 25 November 2014, approved 10-for-1 stock split.
Cox & Kings before market hours today, 26 November 2014 said that its committee of board of directors at its meeting held yesterday, 25 November 2014, approved the closure of QIP. The Committee approved the issue price of Rs 305 per share (including Rs 300 per share towards securities premium), for equity shares to be allotted to eligible QIBs in the QIP.
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