STOCKS ALERT – 23.05.2014
* ADVANTA: Reliance Mutual Fund bought 1.10 mln shares or 1.30% stake in the
company at 203 rupees per share.
* ASAHI INDIA GLASS: Posted Jan-Mar net profit of 60.8 mln rupees against a net loss
of 181.3 mln rupees a year ago. Net sales stood at 6.5 bln rupees versus 4.99 bln rupees a
year ago.
* ASHOKA BUILDCON: IDFC Mutual Fund via IDFC Infrastructure Fund 2 sold 1.50
mln shares or 0.95% stake in the company at 122 rupees per share.
* ASHOK LELYAND: Has posted Jan-Mar net profit of 3.63 bln rupees against a profit
of 1.50 bln rupees year ago and net sales of 30.21 bln rupees, down 17.2% on year.
* BAJAJ ELECTRICALS: Bajaj Electricals has secured two orders worth 3.23 bln
rupees from Power Grid Corp of India for laying of transmission line and rural
electrification work at Kushinagar District, Uttar Pradesh.
* CMC: Foreign institutional investors and registered foreign portfolio institutional
investors can now purchase up to 35% paid up shares of the company from the previous
limit of 24%.
* CUMMINS INDIA: Engines and generator set maker Cummins India reported a 24.8%
on-year decline in net profit to 1.42 bln rupees in quarter ended Mar 31 due to sluggish
sales and low other income.
* DEEPAK NITRITE: Is likely to sell shares to existing shareholders in Jul-Sep to raise
funds for expansion and to repay debt.
* GITANJALI GEMS: ITF Mauritius sold 500,000 shares of the company for 102.72
rupees a share on the BSE.
* GUJARAT NRE COKE: HSBC Global Investment Fund sold 380,000 shares on BSE
and 1.2 mln shares on National Stock Exchange of via HSBC Indian Equity Fund,
for 6.25 rupees a share.
* GUJARAT PETRONET: Reported Jan-Mar net profit of 914.6 mln rupees compared to
1.61 bln rupees a year ago, while net sales fell to 2.3 bln rupees from 3.6 bln rupees.
* HDFC BANK: Government has rejected the bank's proposal to raise the cap on foreign
institutional investment to 67.55% from 49%.
* INFOSYS: Has won a $50 mln deal from AT&T to provide support for billing and web
solutions for three years on pay per use model.
* IRB INFRASTRUCTURE: To start full tolling operation on Pathankot-Amritsar road
by July. * JAIN IRRIGATION: Reported Jan-Mar consolidated net profit of 753.4 mln rupees, up
39.4%, and net sales of 18.06 bln rupees, up 11.1% on year.
* JSW STEEL: Will mull raising funds through non-convertible debentures, warrants,
and convertible securities through a qualified institutional placement on May 27.
* KCP: Has posted consolidated Jan-Mar net profit of 71 mln rupees, down 78.2% on
year and net sales of 1.48 bln rupees, down 24.3% on year.
* LARSEN & TOUBRO: Arm L&T Infrastructure Finance is planning to raise at least
500 mln rupees through issuance of non-convertible debentures.
* MARUTI SUZUKI INDIA: Has said it expects used-car exchange scheme to drive
sales growth in the current financial year started Apr 1.
* MULTI COMMODITY EXCHANGE OF INDIA: KOTAK MAHINDRA BANK has
submitted a binding offer to buy a stake in the company from FINANCIAL
TECHNOLOGIES.
* NOVARTIS INDIA: Has posted Jan-Mar net profit of 238.8 mln rupees, down 2.17%
on year, and net sales of 1.93 bln rupees, up 7.17% on year.
* PC JEWELLER: Has posted net profit of 835.7 mln rupees, up 1.35% on year and net
sales of 15.36 bln rupees, up 34.3% on year.
* RAJESH EXPORTS: Expects net profit for the quarter ending Sep 30 to rise 25-30%,
aided by the easing of gold import duties by the RBI.
* RAMCO INDUSTRIES: Reported Jan-Mar net loss of 41.9 mln rupees compared to net
profit of 126.1 mln rupees year ago, and net sales of 1.77 bln rupees, down from 1.82 bln
rupees a year ago.
* RELIANCE COMMUNICATIONS: May sell 50% stake in its undersea cable business
to Hong Kong Citic Telecom for $500 mln-$600 mln.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: Has posted Jan-Mar net loss of 358.1
mln rupees against loss of 98.6 mln rupees year ago and net sales of 2.60 bln rupees,
down 13.5% on year.
* SEQUENT SCIENTIFIC: Has entered into a definitive pact to acquire manufacturing
assets and business of Arvee Synthesis Pvt Ltd. Sequent has also acquired more than 14
acres of land adjacent to its unit in Mangalore.
* SHIPPING CORP OF INDIA: Has received refund on account of cancellation of
shipbuilding contract for Hull No D-2132, of which 1.05 bln rupees was paid from
further public offer proceeds.
* SKS MICROFINANCE: Closed the issue of equity shares to qualified institutional
buyers, after raising approximately 4 bln rupees at an issue price of 225 rupees per share.
* SOBHA DEVELOPERS: Has posted consolidated Jan-Mar net profit of 702 mln
rupees, up 0.9% on year, and net sales of 6.25 bln rupees, up 6.8% on year.
* SPICEJET: Qatar Airways is likely to invest in the company by purchasing its parking
slots overseas.
* TATA MOTORS: UK-based subsidiary Jaguar Land Rover introduced a locally- manufactured Jaguar XJ 3.0 ltr diesel passenger car at 9.21 mln rupees, ex-showroom
Mumbai.
* VAKRANGEE: Reported Jan-Mar net profit of 710.5 mln rupees compared to 315.8
mln a year ago, and net sales of 6.5 bln rupees compared to 4.7 bln rupees a year ago.
* ADVANTA: Reliance Mutual Fund bought 1.10 mln shares or 1.30% stake in the
company at 203 rupees per share.
* ASAHI INDIA GLASS: Posted Jan-Mar net profit of 60.8 mln rupees against a net loss
of 181.3 mln rupees a year ago. Net sales stood at 6.5 bln rupees versus 4.99 bln rupees a
year ago.
* ASHOKA BUILDCON: IDFC Mutual Fund via IDFC Infrastructure Fund 2 sold 1.50
mln shares or 0.95% stake in the company at 122 rupees per share.
* ASHOK LELYAND: Has posted Jan-Mar net profit of 3.63 bln rupees against a profit
of 1.50 bln rupees year ago and net sales of 30.21 bln rupees, down 17.2% on year.
* BAJAJ ELECTRICALS: Bajaj Electricals has secured two orders worth 3.23 bln
rupees from Power Grid Corp of India for laying of transmission line and rural
electrification work at Kushinagar District, Uttar Pradesh.
* CMC: Foreign institutional investors and registered foreign portfolio institutional
investors can now purchase up to 35% paid up shares of the company from the previous
limit of 24%.
* CUMMINS INDIA: Engines and generator set maker Cummins India reported a 24.8%
on-year decline in net profit to 1.42 bln rupees in quarter ended Mar 31 due to sluggish
sales and low other income.
* DEEPAK NITRITE: Is likely to sell shares to existing shareholders in Jul-Sep to raise
funds for expansion and to repay debt.
* GITANJALI GEMS: ITF Mauritius sold 500,000 shares of the company for 102.72
rupees a share on the BSE.
* GUJARAT NRE COKE: HSBC Global Investment Fund sold 380,000 shares on BSE
and 1.2 mln shares on National Stock Exchange of via HSBC Indian Equity Fund,
for 6.25 rupees a share.
* GUJARAT PETRONET: Reported Jan-Mar net profit of 914.6 mln rupees compared to
1.61 bln rupees a year ago, while net sales fell to 2.3 bln rupees from 3.6 bln rupees.
* HDFC BANK: Government has rejected the bank's proposal to raise the cap on foreign
institutional investment to 67.55% from 49%.
* INFOSYS: Has won a $50 mln deal from AT&T to provide support for billing and web
solutions for three years on pay per use model.
* IRB INFRASTRUCTURE: To start full tolling operation on Pathankot-Amritsar road
by July. * JAIN IRRIGATION: Reported Jan-Mar consolidated net profit of 753.4 mln rupees, up
39.4%, and net sales of 18.06 bln rupees, up 11.1% on year.
* JSW STEEL: Will mull raising funds through non-convertible debentures, warrants,
and convertible securities through a qualified institutional placement on May 27.
* KCP: Has posted consolidated Jan-Mar net profit of 71 mln rupees, down 78.2% on
year and net sales of 1.48 bln rupees, down 24.3% on year.
* LARSEN & TOUBRO: Arm L&T Infrastructure Finance is planning to raise at least
500 mln rupees through issuance of non-convertible debentures.
* MARUTI SUZUKI INDIA: Has said it expects used-car exchange scheme to drive
sales growth in the current financial year started Apr 1.
* MULTI COMMODITY EXCHANGE OF INDIA: KOTAK MAHINDRA BANK has
submitted a binding offer to buy a stake in the company from FINANCIAL
TECHNOLOGIES.
* NOVARTIS INDIA: Has posted Jan-Mar net profit of 238.8 mln rupees, down 2.17%
on year, and net sales of 1.93 bln rupees, up 7.17% on year.
* PC JEWELLER: Has posted net profit of 835.7 mln rupees, up 1.35% on year and net
sales of 15.36 bln rupees, up 34.3% on year.
* RAJESH EXPORTS: Expects net profit for the quarter ending Sep 30 to rise 25-30%,
aided by the easing of gold import duties by the RBI.
* RAMCO INDUSTRIES: Reported Jan-Mar net loss of 41.9 mln rupees compared to net
profit of 126.1 mln rupees year ago, and net sales of 1.77 bln rupees, down from 1.82 bln
rupees a year ago.
* RELIANCE COMMUNICATIONS: May sell 50% stake in its undersea cable business
to Hong Kong Citic Telecom for $500 mln-$600 mln.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: Has posted Jan-Mar net loss of 358.1
mln rupees against loss of 98.6 mln rupees year ago and net sales of 2.60 bln rupees,
down 13.5% on year.
* SEQUENT SCIENTIFIC: Has entered into a definitive pact to acquire manufacturing
assets and business of Arvee Synthesis Pvt Ltd. Sequent has also acquired more than 14
acres of land adjacent to its unit in Mangalore.
* SHIPPING CORP OF INDIA: Has received refund on account of cancellation of
shipbuilding contract for Hull No D-2132, of which 1.05 bln rupees was paid from
further public offer proceeds.
* SKS MICROFINANCE: Closed the issue of equity shares to qualified institutional
buyers, after raising approximately 4 bln rupees at an issue price of 225 rupees per share.
* SOBHA DEVELOPERS: Has posted consolidated Jan-Mar net profit of 702 mln
rupees, up 0.9% on year, and net sales of 6.25 bln rupees, up 6.8% on year.
* SPICEJET: Qatar Airways is likely to invest in the company by purchasing its parking
slots overseas.
* TATA MOTORS: UK-based subsidiary Jaguar Land Rover introduced a locally- manufactured Jaguar XJ 3.0 ltr diesel passenger car at 9.21 mln rupees, ex-showroom
Mumbai.
* VAKRANGEE: Reported Jan-Mar net profit of 710.5 mln rupees compared to 315.8
mln a year ago, and net sales of 6.5 bln rupees compared to 4.7 bln rupees a year ago.
