Tata Motors August JLR sales -JLR Sales - Very strong sales for August especially since it tends to be a weak month seasonally -Company was reporting flat sales for the last couple of months -Growth is attributable to Chinese markets which continued to grow at 100% for JLR even in August 2011 -Volume growth in Land Rover was very strong, new Land Rover Evoque saw 1750 units. -Volume growth ex- Evoque was 20% MoM YoY -Total sales up 31% at 21242 units -Jaguar sales down 10% at 3409 units -Land Rover sales up 43% at 17833 units MoM -Total sales up 11% at 21242 versus 19119 units -Jaguar sales down 22% at 3409 versus 4372 units -Land Rover sales up 21% at 17833 versus 14747 units
ONGC : Sources -ONGC FPO postponed by about 15 days -Price mismatch likely reason for FPO deferral -Investors appetite seen at Rs 240-250/share -ONGC, DoD wanted higher price of around Rs 280/sh -Govt may take a fresh view on ONGC FPO post market feedback
Petrol price hiked by Rs 3.14/litre -2nd petrol price hike in 4 months -Hike in petrol prices due to weakening of rupee versus dollar
EGOM meet today to consider cap on subsidised LPG cylinders -EGoM proposes to cap subsidised LPG cylinder @ 4/year -Cylinders over & above 4 to cost Rs 750 each
Kirit Parikh on fuel hike says -Price hike process should be more transparent -Govt has been dictating petrol prices even after deregulation -OMCs need to explain how petrol prices being calculated
IOC on price hike says -Price hike due to hike in International price & rupee devaluation -Balance impact of Rs 0.53/litre due to VAT -Loss on petrol sale till 15th September is Rs 2427 crore -Daily under recovery of Rs 263 crore on diesel, LPG, kerosene
Pawan Goenka on fuel hike -Petrol price hike not good news for auto industry -Petrol price hike was unavoidable -Interest rate hike on Friday will be a double whammy -Interest rate hike will impact festive season sales
L&T & ABG Shipyard writes to Mazgaon dockyard over JV with Pipavav L&T says -MDL didn't mention any guidelines for JV partner selection -Seeks MDL to carry transparent & fair evaluation of L&T offer
ABG Shipyard says -No timelines indicated for detailed JV proposal -No evaluation criteria mentioned or made available by MDL -MDL decision lacks transparency -Private shipyards allege lack of transparency in MDL-Pipavav JV
Satyam says -US Court okays settlement pack with Lead Plaintiffs -Satyam had to pay USD 125 million for settlement
Other stocks and sectors that are in news today: -Listing today: SRS (Issue price: Rs 58/sh) -Companies hike ATF price by 2.5% effective from midnight - Maruti 's Gurgaon & Manesar plant to remain shut today -Results today: Tree House Education & Accessories -Zee Learn board to consider raising long term funds by issue of securities in domestic or international markets -F&O ban: ABG Shipyard, Gitanjali Gems -Andhra Pradesh hikes VAT by 20% on tobacco products: Sources -Alstom Projects okays merger of Alstom Holdings with self
