Oil India scheduled a board meeting on 11 February 2012 to consider the issue of bonus shares and special interim dividend for the year ending March 2012.
Workers at Reliance Industries' (RIL) Naroda plant in Ahmedabad, that makes Only Vimal range of textiles, reportedly struck work from Wednesday, 1 February 2012 evening demanding higher wages. The plant is RIL's first manufacturing facility set up in Dhirubhai Ambani's home state Gujarat in 1966. The striking workers include permanent as well contractual employees.
In clarification to the Supreme Court ruling of quashing all 122 licenses issued in 2008 on Thursday, Unitech clarified that the verdict pertains to the telecom venture Unitech Wireless (Tamilnadu) (Uninor), which was issued 2G licenses in accordance with the government policy. We believe that Uninor will apply for the appropriate relief available under the laws to protect the interest of its subscribers, employees, vendors, distributors, investors and all other stakeholders. Unitech is separate entity from Uninor and it will continue to focus on its real estate business.
Also in clarification to the Supreme Court ruling of quashing all 122 licenses issued in 2008 on Thursday, Idea Cellular said it had applied for 9 new licenses in 2006, long before the government took a decision to award licenses in 2008. Idea has unnecessarily being caught in this situation of cancelled licenses as these licenses were granted in January 2008 which was as late as 18 months from the date of application, it said.
Idea said it has unnecessarily been caught in this situation of cancelled licenses, just because the licences were granted in January 2008, which was as late as 18 months from the date of application. Idea said it had applied for 9 new telecom licences in 2006, long before the government took a decision to award licences in 2008.
Idea said it will study in detail the Supreme Court judgement and explore all possibilities to protect its investment. Idea said out of the total of 13 licences of the firm which have been cancelled, six licences are non-operational. With respect to the remaining 7 licences, Idea currently has over 6 million subscribers. These account for about 5% of the company's cumulative capex, 4% of revenue and are EBITDA loss making circles.
Fortis Healthcare reportedly plans to hive off its non-core business and related assets into a separate company that is likely to be listed on the Singapore Stock Exchange as a business trust to raise about $300 million, or Rs 1,500 crore.
JK Lakshmi Cement scheduled a board meeting on 7 February 2012 may also consider and approve a proposal for buy-back equity shares.
Syndicate Bank scheduled a board meeting on 11 February 2012, for considering issuance of equity shares on preferential basis in favour of Government of India / Others
Shreyas Shipping & Logistics board of directors decided to segregate the business of shipping and logistics. This is in order to enable its wholly owned subsidiary Shreyas Relay Systems to grow as an independent logistics company. This will be done by initiating the process of demerger of the two companies.
Net profit of Thermax declined 4.72% to Rs 95.49 crore in the quarter ended December 2011 as against Rs 100.22 crore during the previous quarter ended December 2010. Sales rose 3.85% to Rs 1262.97 crore in the quarter ended December 2011 as against Rs 1216.12 crore during the previous quarter ended December 2010.
Net profit of EIH rose 59.39% to Rs 45.25 crore in the quarter ended December 2011 as against Rs 28.39 crore during the previous quarter ended December 2010. Sales rose 4.50% to Rs 294.54 crore in the quarter ended December 2011 as against Rs 281.86 crore during the previous quarter ended December 2010.
Net profit of Astrazeneca Pharma India declined 47.25% to Rs 14.94 crore in the quarter ended December 2011 as against Rs 28.32 crore during the previous quarter ended December 2010. Sales rose 13.01% to Rs 145.16 crore in the quarter ended December 2011 as against Rs 128.45 crore during the previous quarter ended December 2010.
Net profit of Procter & Gamble Hygiene and Health Care rose 13.88% to Rs 51.19 crore in the quarter ended December 2011 as against Rs 44.95 crore during the previous quarter ended December 2010. Sales rose 18.66% to Rs 354.32 crore in the quarter ended December 2011 as against Rs 298.61 crore during the previous quarter ended December 2010.
Net profit of State Bank of Mysore declined 15.98% to Rs 110.94 crore in the quarter ended December 2011 as against Rs 132.04 crore during the previous quarter ended December 2010. Total operating income rose 24.93% to Rs 1320.73 crore in the quarter ended December 2011 as against Rs 1057.19 crore during the previous quarter ended December 2010.
Chennai Petroleum Corporation reported net loss of Rs 63.41 crore in the quarter ended December 2011 as against net profit of Rs 154.94 crore during the previous quarter ended December 2010. Sales rose 33.58% to Rs 11150.85 crore in the quarter ended December 2011 as against Rs 8347.61 crore during the previous quarter ended December 2010.
Net profit of Escorts declined 57.40% to Rs 10.86 crore in the quarter ended December 2011 as against Rs 25.49 crore during the previous quarter ended December 2010. Sales declined 0.57% to Rs 823.08 crore in the quarter ended December 2011 as against Rs 827.78 crore during the previous quarter ended December 2010.
Net profit of Lakshmi Vilas Bank rose 10.35% to Rs 28.35 crore in the quarter ended December 2011 as against Rs 25.69 crore during the previous quarter ended December 2010. Total operating income rose 48.10% to Rs 394.27 crore in the quarter ended December 2011 as against Rs 266.22 crore during the previous quarter ended December 2010.
In clarification to the Supreme Court ruling of quashing all 122 licenses issued in 2008 on Thursday, ING Vysya Bank said it actively engages with various global clients of ING Group (a major stakeholder of the bank) to cater their financial needs in India. The bank added that its telecom exposure largely consists of exposures towards working capital requirement (and not for acquisition of licences) of local entities related to such ING's global clients.
Aanjaneya Lifecare has acquired Hyderabad-based Apex Drugs and Intermediates for Rs 250 crore. Apex makes bulk drugs, or active pharmaceutical ingredients (API), the raw materials used to make drug formulations.
Net profit of Kaveri Seed Company rose 10.77% to Rs 2.88 crore in the quarter ended December 2011 as against Rs 2.60 crore during the previous quarter ended December 2010. Sales rose 27.79% to Rs 41.43 crore in the quarter ended December 2011 as against Rs 32.42 crore during the previous quarter ended December 2010.
EIH Associated Hotel, Godrej Industries, Hindustan Copper, Madras Cements, Power Finance Corporation, Rolta India, Dr Reddy's Laboratories and Zuari Industries among others will declare their September - December 2011 quarterly results today 3, February 2012.