Maharashtra likely to ban cigarettes consumption at public places
Maharashtra Government likely to ban tobacco products and cigarettes consumption at public places; Maharashtra contributes ~10% to ITC’s cigarette sales volume – sentimentally negative for ITC as other states might follow the same ruling.
Oriental Carbon tanks 10% post weak Q3FY2015 margins
Shares of Oriental Carbon tanked 10% to Rs481 on BSE in otherwise strong markets post Q3FY2015 results as high input cost pressure dented margins. The Company reported revenue of Rs64.6 crore marginally growth as compared to last year’s same period, however higher input cost put pressure on margins which decline by 243 basis point to 28%. Hence earnings for the quarter decline by 5% YoY to Rs12.7 crore.
APL Apollo Q3FY2015: Strong revenue growth drive earnings
During the quarter under review company reported revenue growth of 22% YoY to Rs768.1 crore. Operating margins for the quarter improve by 30 basis points YoY to 6.5% on account of better cost management. Earnings for the quarter stood at Rs17.8 crore growth of 38.4% YoY.
NHPC arm incorporated as Bundelkhand Saur Urja
NHPC has announced that a subsidiary Company NHPC as a Joint Venture with Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has been incorporated in the name of Bundelkhand Saur Urja Ltd on February 02, 2015 for implementation of 50MW Grid Connected Solar Power Project in Uttar Pradesh.
HDFC Bank QIP issue of Rs1061.84 crore for ADR
HDFC Bank’s QIP issue is on (price range of Rs1,057-1,067) for its domestic investors and Rs1061.84 crore for ADR –positive. The bank has launched a issue to raise Rs10000 crore of capital— Given the exceptional performance of HDFC Bank the issue likely get overwhelming response which will be positive for Bank as it will increase the float in the stock and may lead to increase its weightages in index.
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