Kaveri Seed Q4 consolidated net loss at Rs7 cr (YoY)
Kaveri Seed Company has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:
Standalone
For the Quarter ended March 31, 2016 (Unaudited)
The Company has posted a net loss of Rs9.76 crore Vs net profit of Rs2.30 crore (YoY).
Total Income increased to Rs36.31 crore Vs Rs34.12 crore (YoY).
Crompton Greaves signs share purchase agreement with First Reserve
Crompton Greaves has signed a share purchase agreement with First Reserve to sell its international Transmission & Distribution business.
The transaction is expected to be complete by 31st October 2016, subject to shareholders and regulatory approvals. Earlier in March Company had announced that it has accepted the offer.
JSW Steel among 7 bidders short-listed for Tata Steel UK asset
JSW Steel fell over 2%, touching to Rs1292, on reports that the company is among seven bidders shortlisted for Tata Steel's UK assets.
Tata Steel has announced that it has accepted seven expressions of interest for the sale of its UK business. Tata Steel Europe has not disclosed details of bidders. On April 11, 2016, Tata Steel Europe announced that the company has commenced the formal process for the divestment of its entire holding in its British subsidiary Tata Steel UK. Tata Steel Europe has decided to sell its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary.
Arvind to raise fund via NCDs
Textiles to retail conglomerate Arvind said that it is planning to raise up to Rs500 crore through issuance of non-convertible debentures on a private placement basis.
The Board will consider the matter regarding fund raising options available to the Company by way of issue of non-convertible debentures up to Rs500 crore on a private placement basis subject to approval of shareholders.
Tata Motors drops on below than estimate JLR Sales
Shares of auto major Tata Motors dropped 4% to Rs389 on NSE as its Jaguar Land Rover Retail Sales grew 11% YoY in April 2016 which were below estimates. Negative for Tata Motors.
Jaguar Land Rover, reported April 2016 retail sales of 41,341 vehicles, up 11% YoY. The sales were below estimates (we had estimated growth of 17-18% on yoy basis). The company sold 200,154 vehicles in the first four months of 2016, which is up 24% YoY.
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