Stock Market Updates
1 - Jindal Poly Films has received its board’s approval for expansion in capacities of Bopet Film, BOPP Film and Metalizer lines at an estimated project cost of Rs 1,600 crore. Recently, the company had announced a liberal 1:1 bonus issue and has fixed 25 October 2010 as the record date.
2 - Tata Motors is looking to place a new car between the Nano and the Indica in the small car segment to compete with Maruti-Suzuki’s Alto, currently the largest selling hatchback in the Indian market. The company is planning to launch a small car, powered with an 800 cc engine, by 2012. The auto major is looking to have products at every price point. Its car portfolio includes Nano, Indica, Indigo, Manza, Sumo, Safari and the recently launched cross-over car Aria. Tata Motors had reported a consolidated net profit of Rs 1,988.73 crore for the June 2010 quarter against a net loss of Rs 328.78 crore for the June 2009 quarter. Total income increased by 61.31% to Rs 27,090.12 crore during the Q1FY11 from Rs 16,794.04 crore for the Q1FY10.
3 - Mahindra Satyam, the brand identity of Satyam Computer Services has signed a large contract with Commonwealth of Kentucky, USA for designing and delivery of a document management system for the child support system. The company’s document management system will include scanning and imaging which will enable child support staff to electronically store, view and send information such as applications, court orders and insurance documentation received from case participants, the court and other agencies.
