Corporate Highlights

• GMR Infra board approves stock split from Rs 2 to Re 1; adjourns results to tomorrow

• PTC said that the QIP proceeds will be diverted to a power sector investment fund. The companymight consider PTC Financial’s IPO next year. PTC Q1FY10 net sales (QoQ) stood at Rs 2,371.7crore Vs Rs 1,177.7 crore and net profit stood at Rs 33.3 crore Vs Rs 15.5 crore.

• M&M Q1 net profit at Rs 401 Cr; net sales at Rs 4,229 Cr; YoY numbers not comparable on merger of Punjab Tractors. The UV segment was up 28.5% vs industry at 1.6%. The UV sales stood at 48720 vs 37919 YoY. The company increased market share in UV to 64.8% vs 51.2% YoY.

• J Kumar Infra has bagged following orders worth Rs 155 crore, As on today, the work order position of the company is Rs 1278.74 crore.

• Sugar August non-levy quota released at 16.5 lakh tonnes; Sugar Aug non-levy quota includes 1.4 lakh tonnes imported sugar, 1.3 lakh tonnes buffer

• Falcon Tyres Ltd is raising Rs 300 crore to carry out expansion of its tyre manufacturing capacity at Mysore plant this year. The company plans to raise Rs 200 crore debt and another Rs 100 crore by divesting a percentage of stake to a private equity firm.