Tata Motors reported a net consolidated loss of Rs 2505.25 crore in the year ended March 2009 as against a net profit of Rs 2167.70 crore in the year ended March 2008. Consolidated total income rose 99.67% to Rs 71737.81 crore in the year ended March 2009 over the year ended March 2008.
Tata Motors on Sunday, 28 June 2009, announced the launch in India of Jaguar and Land Rover vehicles, the marquee brands it bought from Ford Motors last year.
JP Morgan, BNP Paribas, HSBC and Barclays are reported to be in talks with Bharti Airtel to fund part of the $4 billion needed by the Indian telecom major to complete its merger with South Africa's MTN.
The board of Suzlon Energy has approved raising up to Rs 5000 crore through the issue of equity, debt or other instruments. The board has also approved raising the investment limit by foreign funds to 49% from 24% now, it said in a notice to the stock exchange. At the end of 25 June 2009, the company's order book position stood at Rs 7901 crore.
Cement prices are reportedly expected to soften by Rs 3 - Rs 5 per 50-kilogram bag next month due to the twin effect of excess supply and lower demand.
Drug firms Wockhardt and Biocon have reportedly come under the scanner of the National Pharmaceutical Pricing Authority for allegedly violating pricing norms on two insulin analogue brands sold by the two firms.
Wockhardt said on Sunday, 28 June 2009, it had signed an agreement to divest its Animal Health Division to France's Vetoquinol, but did not provide any financial details on the deal. The transaction would take effect in the second half of 2009, it added.
Dewan Housing Finance Corporation received approval on Saturday, 27 June 2009, from its shareholders to sell equity up to Rs 300 crore to qualified institutional buyers, the company told the stock exchanges. In an extraordinary general meeting, shareholders also allowed the company to issue up to 1 crore shares to its founders, the company notice to the exchanges said.
Allahabad Bank has lowered its benchmark prime lending rate (BPLR) by 25 basis points to 12%, from 12.25%, it said in a notice to the stock exchanges on Saturday. The cut in the state-run bank's prime lending rate would be effective from 1 July 2009, it added. Indian banks use BPLR as a benchmark for pricing their loan products.
S. Kumars Nationwide has acquired US clothing company Hartmarx Corp for about $120 million, the company said in a notice to stock exchanges on Saturday. The company acquired Chicago-based Hartmarx through its US subsidiary SKNL North America BV, along with its operating partner Emerisque UK, the company said. SKNL will directly be investing $35 million into this transaction, it added.
The board of Pyramid Saimira Theatre has approved issuing 1 crore shares via qualified institutional placement. The company also approved issuing up to 1 crore warrants to promoters.
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