Category: Breaking Corporate India Earnings News

The board of Siemens has informed us that it has recommended issue of bonus shares in the ratio of 1:1. The board also recommended a dividend of Rs 4.80 per equity share for the financial year ended 30 September 2007. The board also approved the proposal for the merger of Siemens Industrial Turbomachinery Services (SITS), Bangalore with the company.

The company’s net sales rose 46.7% to Rs 2188.46 crore in Q4 September 2007 over Q4 September 2006. The current price of Rs 2200 discounts Q4 September 2007 annualized EPS of Rs 73.22 by a PE multiple of 30.04.

Here is a list of companies that are going for Face Value Split of their stocks. The splits have already been announced by the companies. Only Announcing the record date is pending. Ratio 10:2 means FV Rs 10 is split to FV Rs 2

• Action Construction Equipment – 10:2
• B L Kashyap & Sons – 10:5
• Banco Products – 10:2
• Cineevistaas – 10:2
• Jagaran Prakashan – 10:2
• Jai Prakash Associates – 10:2
• Lancor Holdings – 10:2
• Rajesh Exports – 2:1
• Suzlon Energy – 10:2

You can keep looking for BSE Announcements for the record date. Some of these stocks post-split will move up when you are recommended to book profits.

ITC has finally woken up to the competition from Foods Bazaar, Subhiksha, Reliance Fresh etc. Riding on the success of Choupal Fresh retail outlets in Chandigarh, Hyderabad and Pune, ITC has told us that it will open Choupal Fresh stores in 50 more cities across India. Each of these cities will have atleast 10 outlets within the next 2 years. ITC plans to spend Rs 200 crore by March-2008 in opening new stores. It is also in talks with various other retail chains to source supplies. It is also enhancing its fram linkage program with farmers and will bring 2,500 acres under the venture to BUY produce from farmers.

ITC doesn’t want to be left out with the Cash & Carry wholesale business. It is a terrific success with retaurant owners and push-cart vegetable sellers in Hyderabad. Choupal fresh believes in selling the produce on the same day as it was sourced from the farmer. ITC is all set to consolidate its position in the Andhra market by opening more stores and brining more farms under the linkage program.

PVR has announced the opening of a new multiplex PVR select city walk comprising of six screens including 2 gold classes with 1235 seats situated at Saket, New Delhi on 23 November 2007. With the opening of the multiplex to total number of screens in operation would go upto 95 at 24 locations across 14 cities in 9 States.

The company has also announced the launch of premium brand of multiplex called PVR premiere and intends to open 30-40 such PVR premiere across metros and cosmopols in India by 2010. The company now becomes the most comprehensive brand in the industry – PVR Cinemas for Urban & Semi Urban Cities; PVR talkies for consumers in tier II and III cities; PVR premiere for elite urban consumers.

Hindustan Dorr Oliver has bagged a prestigious order in its environmental division for design, supply, engineering and construction of integrated effluent treatment plant from Hindustan Petroleum Corporation (HPCL) for their refinery at Mumbai.

The order value is close to Rs 1115 millions and will consist of adoption of latest technologies in environmental engineering including sequential bio reactor and membrane bio reactor. The company will be executing the above mentioned contract in 18 months.

Mahindra & Mahindra has announced that Keshub Mahindra, chairman of the $6 billion Mahindra Group, was conferred with the prestigious ernst & young entrepreneur of the year lifetime achievement award at a glittering ceremony held in Delhi.

The ernst & young entrepreneur of the year awards recognize successful entrepreneurs who have displayed an inspiring vision, unbated zeal and passion to make a difference.