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TOP CORPORATE NEWS – 07 FEB 2020

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CORPORATE NEWS

Maruti Suzuki India rolls out BS6 compliant Ertiga S-CNG; price at Rs895,000.

Adding to its unmatched portfolio of green vehicles, Maruti Suzuki India Limited rolled out the BS6 compliant Ertiga S-CNG, offering a mileage of 26.08 km/kg. Speaking at the launch of the BS6 compliant Ertiga S-CNG, Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India Limited said, As a market leader we are constantly working towards offering sustainable mobility solutions to our customers. Ertiga has been a market leader amongst MPVs, and the introduction of BS6 S-CNG will further help augment its leadership in the segment. Being the first Company to introduce factory-fitted CNG cars in the country, today we proudly own the largest portfolio of green vehicles. We would like to thank our customers for their confidence and trust in our products.

Symphony zooms 11% after PAT jumps 36% in Q3FY20.

Symphony Limited, posted consolidated PAT higher by 39% to Rs51cr for Q3FY20 vs. Rs37cr in Q3FY18-19. The consolidated sales also rose by 20% to Rs288cr for Q3FY20 vs Rs240cr in Q3FY18-19. The Board of Directors in their meeting held on February 07, 2020, declared a third interim dividend of 1000% i.e. Rs20/- per equity share of Rs2/- each.

L&T and ideaForge enter an MoU to offer drones and allied systems for defence use.

Larsen and Toubro (L&T), India’s multinational engineering conglomerate and the largest private-sector defence company, and ideaForge, India’s largest manufacturer of Unmanned Aerial Vehicles (UAVs) have entered an MoU to offer drones and allied systems for defence use. Both the companies will combine their strengths to offer hi-tech, integrated drone solutions to enhance security and surveillance. They will also offer anti-drone solutions to counter the threat of malicious or unintended usage of drones.

Voltas soars 3% after PAT rises 13% in Q3FY20.

Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, posted higher PAT by 13% at Rs88cr in Q3FY20 as compared to Rs78cr in the corresponding quarter last year. The consolidated total income for the quarter ended December 31, 2019, was flat at Rs1,547cr at par with the corresponding quarter last year.

Emami cons. profit up 5% at Rs144.4cr in Q3FY20.

Emami Limited posted a net profit of Rs144cr, up by 5% with PAT margins at 17.8% growing by 80 bps. The stock is currently trading at Rs301.70, down by Rs1.25 or 0.41% from its previous closing of Rs302.95 on the BSE.
During the quarter, Gross margins at 68.2% grew by 120 bps. Advertisement spends at 17% of sales increased by 110 bps due to investments in new launches. EBIDTA at Rs264cr posted flat growth with margins at 32.5%.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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