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May 04-09, 2015
Table of Contents
INDIAN NEWS: .......................................................................................................................................................... 2
REPORT: ..................................................................................................................................................................... 3
COMPANY & INDUSTRY NEWS: .............................................................................................................................. 4-6
EARNINGS: ............................................................................................................................................................ 7-10
GLOBAL NEWS: .................................................................................................................................................. 11-12
REPORT: .................................................................................................................................................................. 13
FORTHCOMING CORPORATE ACTION: .................................................................................................................... 14
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Page 1
May 04-09, 2015
INDIAN ECONOMY NEWS
India companies raise USD 2.66 bn via ECB in March
Indian companies raised USD 2.66 billion through external commercial borrowing (ECB) in March 2015,
representing a rise of 17.74% over February 2015. A total 57 companies raised USD 2.26 billion through
automatic and approval routes in February 2015. In March, a total of 106 companies raised USD 2.55 billion
via automatic route, while USD 722.26 million was raised by 5 companies through the approval route.
FDI zooms 63% to $3.28bn in February
Foreign direct investment (FDI) in India zoomed around 63 per cent to USD 3.28 billion (about Rs. 20,820
crore) in February, 2015, according to the data of Department of Industrial Policy and Promotion (DIPP). In
February 2014, the country had received FDI of USD 2.01 billion. During the April-February period of 2014-15,
the foreign fund inflows have grown by 39 per cent, year-on-year, to USD 28.81 billion.
Eight core industries growth turns negative in March
India's eight core Industries, which has 38% of the weight in the Index of Industrial Production (IIP), witnessed
a contraction in March 2015. The combined Index of Eight Core Industries stands at 177.8 in March, 2015,
which was 0.1% lower compared to the index of March, 2014. In the previous month, Index of Eight Core
Industries grew 1.4%. Meanwhile, cumulative growth during April to March, 2014-15 was 3.5%.
Govt exempts foreign investors from MAT
The Indian government exempts foreign investors from minimum alternative tax (MAT) levied on income from
securities transactions, royalties and technical services. However, FIIs will be eligible for MAT exemptions only
when normal tax rate is below 18.5%, said the Finance Minister Arun Jaitley. The government has not provided
any relief from retrospective tax ruling.
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Page 2
May 04-09, 2015
CASH MARKET REPORT
NSE INDICES
BSE INDICES
NSE GAINERS/LOSERS
BSE GAINERS/LOSERS
FII & DII ACTIVITY
TURNOVER
MARKET CAPITALIZATION
BASIS GAP IN NIFTY
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Page 3
May 04-09, 2015
COMPANY & INDUSTRY NEWS
NTPC signs power purchase agreement with Andhra Pradesh
NTPC has signed Power Purchase Agreement (PPA) with Andhra Pradesh Eastern Power Distribution Company
(APEPDCL) and Andhra Pradesh Southern Power Distribution Company (APSPDCL) for procurement of power
to be generated from the 250 MW solar power plant, the first phase of the 1,000 MW ultra solar power
project being set up by NTPC in Anatapur District in Andhra Pradesh.
MIC Electronics bags export orders from USA
MIC Electronics Ltd has announced that the Consortium consisting of MIC Electronics Ltd, and two other
members have received Letter of Award (LOA) from EESL on April 23, 2015 for Cluster-2 Guntur & Cluster-3
Krishna of Andhra Pradesh valued Rs. 60.11 crores. Further, the Company has received export orders from
USA for supply of True Color Visible LED Video display Systems valued Rs. 3 Crores and other Indigenous order
valued Rs. 1.21 Crores. Total Value of Orders received in this month of April 2015 is about Rs 65 Crores.
Amtek Auto acquires Japan based Asahi Tec Corp
Amtek Auto Limited (AAL) has entered into a Share Purchase Agreement with Japan based Asahi Tec
Corporation to acquire its various group companies which are engaged in the business of Iron Casting, Forging
and Machining. The transaction will be completed through the overseas subsidiary of AAL.
Power Grid acquires Gadarwara SPVs
Power Grid Corporation of India has acquired Gadarwara (A) Transco and Gadarwara (B) Transmission on Apr.
24, 2015, pursuant to its selection as the successful bidder under tariff based competitive bidding. The
transmission system is to be constructed over a period of 32 months.
JP Associates concludes sale of 1.5 MTPA cement grinding unit
Jaiprakash Associates announced that the transaction of the sale of company's 1.5 MTPA cement grinding unit
at Panipat, Haryana to Shree Cement has been consummated on April 27, 2015 at a consideration of Rs 3.58
billion.
RPower's arm terminates power purchase agreement
Reliance Power announced that its wholly owned subsidiary, Jharkhand Integrated Power (JIPL), has
terminated the power purchase agreement (PPA) for 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in
district Hazaribagh, Jharkhand.
PTC India Financial to partner IFC
IFC, a member of the World Bank Group, and PTC India Financial Services (PFS) will partner to provide muchneeded infrastructure financing for renewable energy projects in India. These investments will, in turn, help
boost growth and create jobs.
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May 04-09, 2015
Kalpataru Power wins new orders
Kalpataru Power Transmission (KPTL), a leading global EPC player in power and infrastructure contracting
sector, has bagged new orders worth Rs 7.65 billion. The company secured order worth Rs 4.43 billion from
PGCIL for 765 KV D/C Chittorgarh - Ajmer transmission lines. It has received order for supply of transmission
towers to Poland worth Rs 1.53 billion. The company has also secured 220 KV S/C supply, delivery, installation
and commissioning of 110 kms transmission lines in Botswana worth Rs 1.15 billion. Further it has bagged
pipeline laying projects worth Rs 350 million from GAIL (India).
NTPC board approves Rs 17.79 bn investment
NTPC announced that the board of directors has accorded investment approval for Anantpur Solar PV Project,
Stage-I (5x50 MW) in the state of Andhra Pradesh. The appraised current estimated cost of the project is Rs
17.79 billion.
Motherson Sumi gets huge order from Daimler
Motherson Sumi Systems (MSSL) through its subsidiary Samvardhana Motherson Automotive Systems Group
BV (SMRPBV) has received a significant set of orders for the supply of a range of exterior and interior systems
for several future Mercedes-Benz vehicle generations. MSSL estimates these orders to generate sales
revenues of approximately Rs 154 billion (Euro 2.2 billion approx.) over its lifetime and expected to commence
from calendar year 2018.
GIC acquires 63.9% stake in Nirlon
Reco Berry Private Limited, an affiliate of GIC, Singapore’s sovereign wealth fund, announced that, pursuant to
the open offer and agreements with shareholders, it is acquiring 63.9% for Rs. 12.8 bn in Nirlon Ltd (Nirlon).
The stake is being acquired at Rs. 222 per share. Acquisition of 28.4% stake under the open offer has been
completed. Reco Berry is in the process of acquiring the 35.5% stake under the agreements.
L&T Construction wins orders
Larsen & Toubro (L&T) announced that L&T Construction, has won orders worth Rs 8.02 billion in the domestic
and international markets in April 2015. In the domestic market, rural electrification projects under the Rajiv
Gandhi Grameen Vidyutikaran Yojana (RGGVY) schemes have been bagged in Uttar Pradesh and West Bengal
from Dakshinanchal Vidyut Vitran Nigam and West Bengal State Electricity Distribution Company respectively.
IVRCL bags orders worth Rs 4.05 bn
IVRCL, engaged in infrastructure business, has secured orders worth Rs 4.05 billion. The two domestic projects
awarded to IVRCL include an order of Rs 1.10 billion from Dream World Landmarks LLP (Godrej) for residential
development for Godrej Prana, Pune and another order of Rs 2.95 billion from Orissa water supply and
Sewerage board (OWSSB) for execution of additional sewer construction in Bhubaneswar.
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May 04-09, 2015
Suzlon completes Senvion sale
Suzlon Group has announced the completion of 100% stake sale of Senvion SE, a wholly owned subsidiary to
Centerbridge Partners. The transaction closure follows the binding agreement signed with Centerbridge
Partners on Jan. 22, 2015 for a total cash consideration of EUR 1 billion and future potential earn out of up to
an additional EUR 50 million. The completion of the sale transaction has enabled Suzlon to raise approx. Rs 70
billion in cash, of which a substantial portion is intended to be utilized towards debt reduction and volume
growth.
Supreme Infra bags EPC order
Supreme Infrastructure India (SIIL) has bagged the EPC work of Rs 1.34 billion from Damodar Valley
Corporation (DVC). This order is for the construction of bridge on River Konar along with its approach road etc.
including Road over Bridge (ROB) on Gomoh-Barkakana Railways line at BTPS, DVC, Bokaro.
CG inks pact with Paraguay
Crompton Greaves (CG), an engineering firm, has signed a contract with Administracion Nacional de
Electricidad (ANDE), the national power utility of Paraguay for the design, manufacturing testing and supply of
245kv, 72.5 kv and 23kv switchgear equipment.
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May 04-09, 2015
EARNINGS
UltraTech Cement consolidated Q4 profit falls
UltraTech Cement announced a steep drop in consolidated net profit for the quarter ended March 2015.
During the quarter, the profit of the company declined 24.01% to Rs 6,572 million from Rs 8,648.30 million in
the same quarter previous year. Net sales for the quarter rose marginally 4.29% to Rs 66,491.90 million,
compared with Rs 63,756 million for the prior year period.
Bharti Infratel Q4 consolidated net rises
Bharti Infratel disclosed a steady growth in consolidated net profit for the quarter ended March 2015. During
the quarter, the profit of the company rose 18.01% to Rs 5,575 million from Rs 4,724 million in the same
quarter previous year. Net sales for the quarter rose 6.21% to Rs 31,165 million, compared with Rs 29,344
million for the prior year period.
Andhra Bank Q4 profit doubles to Rs 1.85 bn
Andhra Bank reported a sharp rise of 2.10 times in fourth quarter profit driven by strong net interest income
and other income. The bank reported a profit of Rs 1,852.40 million for the quarter ended Mar. 31, 2015,
compared with Rs 880.80 million, a year ago. Quarterly income totalled at Rs 46.99 billion, an increase of
15.80% over Rs 40.58 billion in the same period a year ago. The bank has made provision of Rs 6.33 billion,
which was lower by 10.97%. Net NPA was at 36.89 billion for the quarter ended Mar. 31, 2015. Capital
adequacy ratio (CAR) of the bank under Basel III was at 10.63% as on Mar. 31, 2015.
Maruti Suzuki Q4 profit jumps
Maruti Suzuki India posted a rise of 60.50% in net profit for the fourth quarter. The company reported a net
profit of Rs 12.84 billion for the third quarter ended Mar. 31, 2015 compared with Rs 8 billion in the same
period last year. Net sales for the quarter increased 12.51% to Rs 136.25 billion, compared with Rs 121.1
billion for the prior year period.
ICICI Bank Q4 profit up 10.2%
ICICI Bank reported a 10.2% rise in standalone net profit for the quarter ended Mar. 31, 2015. The bank has
earned Rs. 29.22 billion, or Rs. 4.99 a share in the quarter, compared with Rs. 26.52 billion, or Rs. 4.57 a share
for the same period last year. Standalone total revenues during the quarter grew 12.23 percent to Rs. 162.35
billion. Consolidated quarterly profit increased 13 percent to Rs 30.85 billion. Net interest income for the
quarter rose 17 percent over the prior year period to Rs. 50.79 billion. The bank has made provision of Rs.
13.44 billion for loan losses during the quarter.
JSW Energy consolidated Q4 net jumps
During the quarter, the profit of JSW Energy rose 86.24% to Rs 3,252.20 million from Rs 1,746.20 million in the
same quarter previous year. Net sales for the quarter rose 5.03% to Rs 22,193.60 million, compared with Rs
21,130 million for the prior year period.
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May 04-09, 2015
Godrej Consumer consolidated Q4 net climbs
Godrej Consumer Products (GCPL) posted a steady growth in consolidated net profit for the quarter ended
March 2015. During the quarter, the profit of the company rose 12.40% to Rs 2,655.70 million from Rs
2,362.80 million in the same quarter previous year. Net sales for the quarter rose 8.13% to Rs 21,094.80
million, compared with Rs 19,509 million for the prior year period.
Bharti Airtel Q4 consolidated profit climbs
During the quarter, the profit of Bharti Airtel rose 30.39% to Rs 12.53 billion from Rs 9.61 billion in the same
quarter previous year. Net sales for the quarter rose 3.50% to Rs 230.39 billion, compared with Rs 222.60
billion for the prior year period.
Idea Cellular consolidated Q4 profit jumps
Idea Cellular announced a sharp rise of 59.76% in net profit for the fourth quarter. The company reported a
net profit of Rs 9.41 billion for the third quarter ended Mar. 31, 2015 compared with Rs 5.89 billion in the
same period last year. Net sales for the quarter increased 21.43% to Rs 86.08 billion, compared with Rs 70.89
billion for the prior year period.
Welspun Corp Q4 PAT Rs. 144 cr
The flagship company of $3 billion Welspun Group recorded consolidated net profit for Q4 FY 15 of Rs. 144
crore as against Rs. 12.62 crore yoy. Total consolidated income stood at Rs. 2,375 Crore. Net sales in Q4 FY15
were marginally higher compared to the previous quarter due to better realisations, in spite of the lower
volumes.
Shriram City Union Finance FY2015 net profit rises 7.1 %
Net profit for 12 months ending March 2015 was higher by 7.1 % at Rs.558.06 crore compared to Rs. 521.14
crore in the previous year. Income from Operations stood at Rs.3482.24 crore in FY15, up 9.1% over FY14. Net
Interest Income increased by 16.2% and was at Rs.2139.08 crore compared to Rs. 1840.63 crore for 2013-14.
KPIT Tech Q4 net profit at 50.3 crore
KPIT Technologies Ltd has posted a net profit after taxes, minority interest and share of profit of associates of
Rs. 503.081 million for the quarter ended March 31, 2015 as compared to Rs. 612.981 million for the quarter
ended March 31, 2014. Total Income has increased from Rs. 6824.175 million for the quarter ended March 31,
2014 to Rs. 7806.786 million for the quarter ended March 31, 2015.
Tata Elxsi Q4 PAT at Rs. 29.8 crore
Tata Elxsi has posted a net profit of Rs. 298.353 million for the quarter ended March 31, 2015 as compared to
Rs. 236.719 million for the quarter ended March 31, 2014. Total Income has increased from Rs. 2135.590
million for the quarter ended March 31, 2014 to Rs. 2307.679 million for the quarter ended March 31, 2015.
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May 04-09, 2015
Zensar Tech Q4 consolidated net profit at Rs 71.8 Crore
For the quarter ended March 31, 2015, the company reported revenue of Rs 657.57 crore as against revenue
of Rs 602.54 crore the same quarter last year. The company reported FY15 revenue of Rs 2627.68 crore, a
growth of 13.5% over the previous year revenue of Rs 2315.60 crore. The PAT is at Rs 264.59 crore, an 11.4%
increase over previous year PAT at Rs 237.53 crore.
Axis Bank Q4 profit rises 18.5%
Axis Bank reported growth of 18.48% in its net profit for the quarter ended Mar. 31, 2015. The bank earned a
profit of Rs 21.8 billion for the quarter ended Mar. 31, 2014. The bank's quarterly income totalled at Rs 124
billion, an increase of 21.57% over Rs 102 billion in the same period a year ago. The bank has made provision
of Rs 7.1 billion. Capital adequacy ratio (CAR) of the bank under Basel III was at 15.09% as on Mar. 31, 2015.
Ambuja Cements Q1 profit plummets
Ambuja Cements announced a fall of 39.04% in first quarter earnings. It earned net profit of Rs 3.17 billion for
the quarter ended Mar. 31, 2015 as compared to Rs 5.20 billion in the same period last year. Net sales
decreased 7.95% to Rs 25.6 billion for the quarter ended Mar. 31, 2015 from Rs 27.81 billion in the year ago
period on account of negative growth in volume by 9% but an improved net cement realisation for the
quarter.
HDFC Q4 profit up 8%
Housing Development Finance Corporation (HDFC) reported a rise of 7.95% in fourth quarter profit. The bank
reported a profit of Rs 18.6 billion for the quarter ended Mar. 31, 2015, compared with Rs 17.23 billion, a year
ago. Quarterly income totaled at Rs 74.6 billion, an increase of 12.18% over Rs 66.5 billion in the same period
a year ago.
Biocon Q4 consolidated profit jumps
Biocon reported a sharp rise in consolidated net profit for the quarter ended Mar. 31, 2015. During the
quarter, the profit of the company rose 78.76% to Rs 2.02 billion from Rs 1.13 billion in the same quarter
previous year. In Q4, Syngene has posted its strongest quarterly performance to date recording sales of Rs
2.38 billion and delivering 27% growth YoY. Net sales for the quarter rose 14.61% to Rs 8.55 billion, compared
with Rs 7.46 billion for the prior year period.
Exide Industries Q4 profit up
During the quarter, the profit of the company rose 4.12% to Rs 1,375.90 million from Rs 1,321.40 million in the
same quarter previous year. Net sales for the quarter rose marginally 1.99% to Rs 16,574.70 million, compared
with Rs 16,251 million for the prior year period.
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May 04-09, 2015
Coromandel Int'l consolidated Q4 profit falls
During the quarter, the profit of Coromandel International declined 15.06% to Rs 686.60 million from Rs
808.30 million in the same quarter previous year. Net sales for the quarter rose 36.68% to Rs 30,109.30
million, compared with Rs 22,030 million for the prior year period.
Godrej Properties consolidated Q4 profit up
Godrej Properties (GPL) reported a small rise in consolidated net profit for the quarter ended March 2015.
During the quarter, the profit of the company rose 6.40% to Rs 514.44 million from Rs 483.48 million in the
same quarter previous year. Net sales for the quarter surged 64.83% to Rs 7,180.78 million, compared with Rs
4,356 million for the prior year period.
Marico consolidated Q4 profit climbs
During the quarter, the profit of Marico rose 23.95% to Rs 1,100.35 million from Rs 887.71 million in the same
quarter last year. Net sales for the quarter rose 14.73% to Rs 12,450.15 million, compared with Rs 10,852
million for the prior year period.
IDFC consolidated Q4 earnings jump over 48%
During the quarter, the profit of IDFC rose 48.18% to Rs 3,822.10 million from Rs 2,579.40 million in the same
quarter last year. Net sales for the quarter rose 16.41% to Rs 25,837.80 million, compared with Rs 22,196
million for the prior year period.
HCC Q4 profit falls 15.4%
Hindustan Construction Company (HCC) disclosed a sharp drop in standalone net profit for the quarter ended
March 2015. During the quarter, the profit of the company declined 15.37% to Rs 206.50 million from Rs 244
million in the same quarter previous year. Net sales for the quarter declined marginally 3.57% to Rs 11,606.70
million, compared with Rs 12,036.10 million for the prior year period.
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May 04-09, 2015
GLOBAL ECONOMIC NEWS
U.S. services sector growth cools in April
U.S. services sector expansion eased slightly in April from a seven-month high in March on a dip in new
business growth, but the pace of hiring in the sector accelerated to its highest since last June, an industry
report showed. Financial firm Markit said its "flash," or preliminary, reading of its Purchasing Managers Index
for the services sector slipped to 57.8 in April from a final reading of 59.2 in March, which had been the
highest level since August.
U.S. home prices rise in February
U.S. single-family home prices rose in February from a year earlier, led by strong increases in the western half
of the United States, a closely watched survey said. The S&P/Case Shiller composite index of 20 metropolitan
areas gained 5 percent in February on a year-over-year basis.
U.S. homeownership dips, but household formation rises
U.S. homeownership slipped to a 25-year low in the first quarter, but sustained strong gains in the pace at
which Americans are setting up homes supported the view that the housing sector will boost economic growth
this year. The seasonally adjusted home ownership rate dipped to 63.8 percent, the lowest since the fourth
quarter of 1989, the Commerce Department said. Household formation, however, increased by 1.5 million in
the first quarter from the same period in 2014. It was up 1.7 million in the fourth quarter.
US economy grows 0.2% in Q1
The US economy expanded at an annual rate of 0.2 percent in the first quarter of 2015, according to the
'advance' estimate released by the Bureau of Economic Analysis. Gross domestic product (GDP) growth was
less than forecast of 1 percent. In the fourth quarter, real GDP increased 2.2 percent. The price index for gross
domestic purchases, which measures prices paid by U.S. residents, decreased 1.5 percent in the first quarter,
compared with a decrease of 0.1 percent in the fourth. Excluding food and energy prices, the price index for
gross domestic purchases increased 0.3 percent, compared with an increase of 0.7 percent.
China April official services PMI dips
Activity in China's services sector expanded in April but at a slightly slower pace than in March, in another sign
that the economy may be losing momentum. The official non-manufacturing purchasing manager's index, or
PMI, fell to 53.4 in April, compared with March's 53.7, but remained well above the 50-point level that
separates growth from a contraction in activity on a monthly basis.
China April official PMI shows factories struggling
China's factories struggled to grow in April as domestic and export demand remained weak, reinforcing
expectations that Beijing will roll out more measures to support the slowing economy. The official
manufacturing Purchasing Managers' Index (PMI) stood at 50.1 in April.
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May 04-09, 2015
U.S. jobless claims at 15-year low
The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and
consumer spending rose in March, signs the economy was regaining momentum after stumbling badly in the
first quarter. Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 262,000 for
the week ended April 25, the lowest reading since April 2000, the Labor Department said.
U.S. labor costs rise solidly
U.S. labor costs rose solidly in the first quarter as wages in the private sector increased, which could keep the
Federal Reserve on track to raise interest rates this year. The Employment Cost Index, the broadest measure
of labor costs, advanced 0.7 percent - the largest gain since the third quarter of 2014 - after an unrevised 0.5
percent rise in the fourth quarter, the Labor Department said.
U.S. auto sales disappoint in April
U.S. auto industry sales in April came in below expectations as Asia's major carmakers' results disappointed,
offsetting strong gains for trucks and SUVs made by General Motors (GM.N) and Ford (F.N). Industry sales in
April finished at 1,454,951 vehicles, up 4.6 percent according to research firm Autodata. The industry's annual
sales rate for the month was 16.50 million vehicles, below the 16.7 million to 16.8 million many analysts had
expected.
U.S. consumer sentiment up in April
U.S. consumer sentiment in April rose versus the prior month to its highest level since January, but was slightly
below analyst expectations for a final reading, a survey released. The University of Michigan's final April
reading on the overall index on consumer sentiment came in at 95.9, unchanged from the preliminary April
reading. The final reading in March was 93.0.
U.S. construction spending hits six-month low in March
U.S. construction spending fell in March to a six-month low as outlays on private residential construction
spending declined sharply, which could add to concerns about the economy's ability to rebound strongly from
the first-quarter's soft patch. Construction spending slipped 0.6 percent to an annual rate of $966.6 billion, the
lowest level since September, the Commerce Department said.
U.S. manufacturing growth holds at low level
The pace of U.S. manufacturing growth held at its slowest in almost two years in April, as a rebound in new
orders was offset by employment shrinking to its lowest level in more than five years, according to an industry
report released. The Institute for Supply Management (ISM) said its index of national factory activity was 51.5
in April, matching the March reading, which had been the lowest since May 2013..
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May 04-09, 2015
GLOBAL MARKET REPORT
INDICE
Dow Jones
DAX
FTSE
Hang Seng
Nasdaq
Nikkie
CAC 40
S&P 500
SingaporeSTI
CMP
18024.06
11454.38
6985.95
28133.00
5005.39
19531.63
5046.49
2108.29
3487.39
Previous Close
18080.14
11810.85
7070.70
28060.98
5092.08
20020.04
5201.45
2117.69
3513.00
DOW JONES
HANG SENG
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Change
-56.08
-356.47
-84.75
72.02
-86.69
-488.41
-154.96
-9.40
-25.61
% Change
-0.31
-3.02
-1.20
0.26
-1.70
-2.44
-2.98
-0.44
-0.73
Trend
Sideways
Down
Down
Up
Volatile
Down
Down
Volatile
Down
NASDAQ
FTSE 100
Page 13
May 04-09, 2015
FORTHCOMING CORPORATE ACTION
Company
Purpose
Ex-Date
ITD Cementation
Annual General Meeting
05-May-15
Godrej Cons Prod
Fourth Interim Dividend
05-May-15
Sun TV Network
Interim Dividend
05-May-15
Gateway Distriprk
05-May-15
TVS Motor
Second Interim Dividend
Second Interim Dividend (Record Date
Revised)
Indiabulls Hsg Fin
Interim Dividend Rs 9/- Per Share
06-May-15
Castrol India
Final Dividend - Rs 4/- Per Share
06-May-15
Indiabulls Venture
06-May-15
Foseco India
Interim Dividend - Re 1/- Per Share
Interim Dividend - Rs 3.50 Per Share
(Purpose Revised)
Hinduja Ventures
Interim Dividend - Rs 15/- Per Share
08-May-15
GM Breweries
AGM/Dividend - Rs 2.50/- Per Share
08-May-15
Company
Purpose
Ex-Date
05-May-15
07-May-15
Disclaimer:
This material is for personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to
be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would
be illegal. It is based on information considered by us as reliable but do not represent that it is necessarily complete and accurate. Opinions
expressed here are based on information available at the time of preparation of this matter. We do not accept any responsibility for any error
of judgment, omission or commission.
For private circulation only
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