Sebi seeks clarifications on lavasa’s Rs 750-cr IPO
Market regulator Sebi has sought clarifications on the proposed Rs 750-crore initial public offer (IPO) of construction major HCC’s realty arm lavasa Corporation. Without disclosing the details of clarifications sought, Sebi has said “clarifications (are) awaited from lead manager” for the proposed public issue. As per the latest weekly update to the processing status of draft offer documents filed with Securities and Exchange Board of India (Sebi), regulator has said clarifications were awaited on the proposed IPO of lavasa as on August 8, 2014.
Aditya Birla Nuvo Q1 Net down 20.41% to Rs 263.7 cr
Diversified firm Aditya Birla Nuvo on Tuesday reported 20.41 per cent decline in consolidated net profit at Rs 263.7 crore for the quarter ended June 30 on higher finance costs related to lending activity of subsidiaries. It had reported a net profit of Rs 331.33 crore in the April-June quarter of 2013-14 fiscal, Aditya Birla Nuvo ltd (ABNl) said in a BSE filing. ABNl’s net sales during the first quarter of 2014-15 rose 7.86 per cent to Rs 6,126.56 crore from Rs 5,679.69 crore in the year-ago period.
JK Tyre posts marginal rise in Q1 net at Rs 55.44 cr
JK Tyre & Industries on Tuesday posted a marginal increase in its consolidated net profit at Rs 55.44 crore for the first quarter ended June 30, 2014. The company had posted a net profit of Rs 55.26 crore during the same period in the previous fiscal. Net sales of the company declined to Rs 1,853.92 crore for the first quarter, as against Rs 1,866.94 crore during the same period of previous fiscal, JK Tyre & Industries ltd said in a statement.
Honda Dream Series sales zoom past 10 lakh Milestone
Honda Motorcycle & Scooter India surpassed the 10 lakh sales mark for it’s Dream Series mass motorcycles. In just a short span of 26 months, Dream Series has emerged as a preferred choice for a million Indians. Since 2012, Honda’s share in the 100-110cc segment has increased by a humongous 400 per cent (2%-8%), making it the fastest growing segment for Honda. Speaking on this achievement, Yadvinder S. Guleria, Vice President – Sales & Marketing, Honda Motorcycle & Scooter India said, “To enter the New Era of Honda 2 Wheelers in India complemented by such a landmark is very special to us. We thank all our million dreamers for reposing their trust & confidence in brand Honda. With our increased network in rural India, we are confident Dream Series shall further expand it’s wings specially with our latest addition ‘CD 110 Dream’.”