TOP CORPORATE NEWS
Ashok Leyland records total sales at 11544 units
Ashok
Leyland announced the sales volumes for month of August 2015. Total sales stood
at 11544 units compared to 8333 units in August 2014, registering a growth of
39%. Sales of M&HCV stood higher by 53% at 8903 units and sales of LCV were
higher by 6% at 2641 units in August 2015 over August 2014. For the period
April - August 2015, total sales were higher by 40% at 50752 units compared to
36134 units in corresponding period of previous year.
Alicon Castalloy acquires
Castings Business of Rs137 crore
Alicon Castalloy
Ltd has informed regarding a Press Release titled 'Alicon Castalloy Ltd has acquired
the Castings Business of the Atlas Castalloy Ltd for Rs137 Crore.
Punj Lloyd wins Rs1,094 crore
order
Punj Lloyd
announced receipt of Rs1094 crore Haldia Refinery EPCC Package from Indian Oil
Corporation. With this new order, the group’s order backlog stands at Rs20,978
crores. The development is positive for Punj Lloyd.
ITC to enter dairy market with
Ghee by end of Q2FY2016
ITC is set to
foray its range of dairy product starting with ghee, which would be available
in the market by the end Q2FY2016. The company's will rollout other products
following ghee will include packaged milk, butter, cheese and chocolates in the
next few years. This is positive for the company, as it focusing on reducing
its dependence on cigarette business. Also it has strong distribution system,
which will take care the reach of the products in the specific market.
Escorts Agri Machinery sells
2,402 tractors in August 2015
Escorts Ltd has
informed regarding a Press Release dated September 01, 2015 titled 'Escorts
Agri Machinery sells 2,402 tractor in August 2015'.
Indian Hotels exits from
management contract of Taj Palace Dubai
Indian Hotels
exits from management contract of Taj Palace Dubai, no major impact on earnings
as it was management contract – neutral for the stock. Indian Hotels Company
Ltd has pulled out from managing the Taj Palace Dubai on mutual understanding
with the Juma Al Majid Group. With the new CEO Rakesh Sarna at the helm since
September 2014, the Taj Group has been restructuring its overseas operations
and exited from few of its overseas properties.
Govt allows Reliance to sell
LPG to private marketers
The government has
permitted Reliance Industries to sell up to 10,000 tonnes per month of LPG
produced at its plants to private cooking gas marketers. The approval is valid
until March 31, 2016 and is subject to RIL importing an equivalent quality and
delivering to state-owned firm. The
government had in February last year asked RIL to stop retailing LPG produced
in its Jamnagar, Hazira and Patalganga plants. The company has a vast network
that supplies cooking gas to 1 million customers, mostly in rural areas, and
134 auto LPG outlets.
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