TVS Motor Co Ltd has cut production of motorbikes as high interest rates slow demand, and expects sales to improve only from the second half of the fiscal year. TVS, India's third-biggest motorbike maker, is adjusting its production mix by cutting back on motorbikes and stepping up production of cheaper mopeds and scooters.
Ansal Properties & Infrastructure has launched an integrated township at Agra, Uttar Pradesh, which is strategically located near the Delhi-Agra highway, on the Ring Road, Agra.
International Finance Corp (IFC), the private sector arm of World Bank, will take 5.84 per cent stake in Lanco Infratech's subsidiary - Lanco Amarkantak Power Pvt Ltd - for 8 million dollars (about Rs 32.5 crore). IFC has signed an agreement with Lanco Amarkantak to subscribe to a stake of 5.84 per cent amounting to 8 million dollars.
Strides Arcolab has launched US $ 75-million direct, unsubordinated, unconditional and unsecured zero coupon foreign currency convertible bonds due 2012.
Moser Baer India's subsidiary Moser Baer Photo Voltaic (MBPV) had commenced commercial shipment of its solar photovoltaic cells. MBPV has firm customer orders and memorandum of understanding (MoUs) exceeding $100 million.
Ispat Industries reported Q4 net profit of Rs 82.12 crore versus loss of Rs 153 crore on YoY basis. During the corresponding quarters, its net sales was up at Rs 2105 crore versus Rs 1281 crore. Its operatinf profit margin stood at 24% versus 12% during the corresponding quarters.
PVR's Q4 net profit was up at Rs 2.20 crore versus Rs 1.67 crore on QoQ basis. During the corresponding quarters, its net sales was up at Rs 40.6 crore versus Rs 39.5 crore. Its operating profit margin stood at 16% versus 13.5% during the corresponding quarters.
Gujarat State Petronet has posted Q4 net profit at Rs 19.3 crore (Rs 193 million) versus Rs 10.8 crore (Rs 108 million) in corresponding quarter of previous year. Net sales stood at Rs 83.1 crore (Rs 831 million) as against Rs 67 crore (Rs 670 million).
Daily Fundamental Snippets - June 8 2007