TOP CORPORATE NEWS-1 June 2015

L&T Construction wins orders valued Rs1099 Crs

Larsen & Toubro has announced that L&T Construction Wins Orders Valued Rs1099 Crores. The orders include Rs517 crores of T&D projects in both the international and domestic markets. The buildings & factories business secured an order worth Rs300 crores, which is primarily to design and construction of an integrated foods manufacturing factory in Punjab. The water smart world & communication business secured orders worth Rs 282 crores.

Ashok Leyland May 2015 volumes up 40.1% (YoY) to 9,294 units

Ashok Leyland today reported a 40.13% hike in total sales at 9,294 units in May as against 6,632 units in the same period last year. Ashok Leyland medium & heavy commercial vehicle (MHCV) volumes were up 41.1% to 6,892 units. Light Commercial Vehicle ( LCV) volumes were up 37.4% YoY to 2,402 units. While MHCV sales were in-line with estimates, the strong uptick in LCV sales was ahead of our expectation.

KSS arm enters into MoU with R-Mall

KSS has announced that K Sera Sera Miniplex Ltd (KSSMPL), subsidiary of KSS Ltd has entered into MOU with ' R-Mall' by Runwal Constructions (RC) for constructing and operating four (1 Gold and 3 Pushback) miniplex screens and carrying on other related activities of Entertainment/Education/E-Learning/F&B- under the trade name ' K Sera Sera Miniplex' located at Ghodbunder Road, Near Runwal Estate, Thane (W)- 400 601. This will take the count to 141 screens which are signed up for miniplexes.

Mohit Inds board approves demerger of AAC Blocks

Mohit Industries announced that the Board of Directors of the Company at its meeting held on May 30, 2015, has considered and approved the proposal for the demerger of AAC Blocks (Aerated Autoclave Concrete) Business into a Separate company in order to achieve operational, and administrative efficiencies and with a view to concentrate on the focused business, Facilitate Expansion, or any other arrangement depending on the opportunity in the future.

                                                                                               

Pratibha Industries surges as Q4 robust execution boosts earnings

Shares of Pratibha Industries surged 6% to Rs41.55 on NSE post Q4FY15 results as robust execution boosts earnings despite higher interest burden .Revenue rise by 51.8% YoY to Rs942 crore: Consolidated revenues of Pratibha Industries Ltd (PIL) rose by 51.8% year on year (YoY) to Rs942 crore. Infrastructure and construction division grew by 64.2%YoY to Rs905 crore. The manufacturing division on the other hand posted a revenue of Rs0.6 crore as against Rs0.05 crore during Q4FY2014.

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