Year: 2007

Amtek Auto has acquired the entire assets of U.K. based J L French’s (Witham) (JLF), a company engaged in the business of manufacturing of HPDC aluminium for automotive application. JLF’s business has been developed to offer die-casting solutions including product design, simulation, testing, rapid prototyping, high pressure die-casting, precision machining and assembly. This is predominantly aimed at the European automotive industry. The company supplies its products to Land Rover, Jaguar, Trellborg, Ford and PSA (Peugeot).

JLF’s current sales revenues are pegged at about $ 60 Million with 60% capacity utilization.

Amtek Auto is likely to fund the acquisition through $250 million foreign currency convertible bonds (FCCBs) it issued in May 2006.

Net profit of Amtek Auto rose 47.78% to Rs 65.32 crore in Q3 March 2007 as against Rs 44.20 crore in Q3 March 2006. Sales were up 35.97% to Rs 314.64 crore ( Rs 231.41 crore).

In March 2007, Amtek Auto had inked a 50:50 joint venture with VCST Industrial Products of Belgium with headquarters in Sint Truiden, Belgium, to set up a state-of-the-art manufacturing facility for powertrain components in India. The JV will primarily focus on the manufacture of gears and shafts for automotive on- and off-road applications.

Tata Motors announced that its May 2007 sales slipped 4% to 42,558 units, as compared to previous year. May 2007 commercial vehicle (CV) sales declined to 20,675 units from 21,903 units in May 2006. May 2007 passenger vehicle sales were down 3% at 17,580 units, from previous year.

Tata Motors net profit rose 25.89% to Rs 576.72 crore in Q4 March 2007 from Rs 458.11 crore in Q4 March 2006. Sales rose 20.11% to Rs 8267.00 crore in Q4 March 2007 from Rs 6882.75 crore in Q4 March 2006.

The net profit rose 25.15% to Rs 1913.46 crore in the year ended March 2007 (FY 2007) from Rs 1528.88 crore in FY 2006. Sales rose 33.31% to Rs 27535.24 crore FY 2007 as against Rs 20654.35 crore in FY 2006.

As per reports, Tata Motors has more than doubled its stake in Automobile Corporation of Goa, one of its major suppliers. The move underlines Tata Motors’ plan to increase control of the growing bus body business. Tata Motors, a co-promoter of Automobile Corporation with a stake of 10%, has upped its stake to 21% through a rights issue.

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ICICI in an internal announcement just a while ago have introduced a new brokerage slab for Intraday Options Trading. ICICI is moving towards flat brokerage with effect from May-1st. That’s right effective May-1st. New slabs are as follows.

ICICI trading interface is far better than Reliance Money which is full of software glitches and fund transfer has been a headache. ICICI is getting more serious on preserving existing customers as well. For more details read here.