LATEST BUSINESS NEWS

Info Edge invests additional amount of Rs 15 crore in Canvera

The total investment by the company, including that through its subsidiary, is Rs 90.10 crore
Info Edge (India) through its wholly-owned subsidiary, has invested an amount of Rs 15 crore in Canvera Digital Technologies (Canvera). Accordingly, the total investment by the company, including that through its subsidiary, is Rs 90.10 crore which would translate, as on date, in to a 49% shareholding in Canvera on a fully converted & diluted basis. This investment was made at a pre-money valuation of Canvera at about Rs 75 crore.

Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.
source : ventura

 

Coal India reports 8.8% rise in coal output during April-November period

The government has set one billion tonnes production goal for the company by 2020
Coal India (CIL) has reported 8.8 per cent rise in its coal output to 321.38 million tonnes during April-November period of the current fiscal as compared to 295.40 million tonnes during the same period last year.

The government has set one billion tonnes production goal for the company by 2020. CIL accounts for over 80 per cent of the domestic coal production. The government has set a production target of 550 million tonnes for the PSU for the current fiscal.

Coal India missed the production target for 2014-15 by 3 per cent, recording an output of 494.23 million tonnes.
source : ventura

 

Suzlon’s S97 2.1MW Prototype Turbine in Gujarat achieves 35% Plant Load Factor

The evolutionary product has received encouraging response from customers across segments and reflects in the 350 MW of orders received
Suzlon Group, one of the leading wind turbine manufacturers’ evolutionary S97-HT DFIG 2.1MW Wind Turbine with an All-Steel Hybrid Tower has achieved 35% PLF over the last 12 months i.e. since the launch in November 2014. The prototype was commissioned on June 9, 2014 at Nani Ber District of Kutch, Gujarat. The evolutionary product has received encouraging response from customers across segments and reflects in the 350 MW of orders received.

The S97-HT DFIG is the Worlds’ tallest All-Steel Hybrid tower (120 metre height) design which combines both lattice and tubular structures, designed indigenously to harness the enhanced availability of wind resources at higher altitudes making low wind sites viable. It increases energy output by 12% to 15 % over other turbines of same capacity at 90m height.

The combination of lattice and tubular gives enhanced tower strength at lower cost. The three-dimensional lattice structure can support heavier weights due to the broad base and reduces the steel requirement apart from being logistic friendly.
source : ventura

 

GAIL to buy 5% stake in consortium building TAPI gas pipeline

The TAPI pipeline will have a capacity to carry 90 mmscmd gas for 30 years
State-owned GAIL India is planning to buy 5% stake in the international consortium building the $8.7 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.

Turkmenistan’s state-owned TurkmenGaz will be the leader of the consortium and shall take 85% stake, while India will be represented by GAIL, which will take a 5% interest. Further, ISGS of Pakistan and Afghan Gas Enterprise (AGE) will also take 5% stake each.

The TAPI pipeline will have a capacity to carry 90 million standard cubic metres a day (mmscmd) gas for 30 years and is planned to become operational in 2018. India and Pakistan were originally to get 38 mmscmd each while the remaining 14 mmscmd was to be supplied to Afghanistan.

GAIL is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.
source : ventura

 

PVR opens Multiplex at VR Mall Whitefiled in Bengaluru

The total screens count has gone upto 491 Screens at 109 Locations across 44 Cities in 15 States and 1 Union Territory
PVR, India's largest cinema exhibition chain, has opened its Multiplex at VR Mall, Whitefiled in Bengaluru. The company’s nine screens Multiplex enabled with state of the art interiors also offers 3D technology with 7.1 channel surround sound, a separate IMAX audi and four unique Gold Class audis.

With the opening of this Multiplex at ‘Bengaluru, Karnataka'’ the total screens count has gone up to 491 Screens at 109 Locations across 44 Cities in 15 States and 1 Union Territory. The opening of this prestigious Cinema is a part of the company’s organic growth strategy of PAN India expansion and increasing its presence in major cities.

PVR is the largest and the most premium film and retail entertainment company in India. The company is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain.
source : ventura

 

Nse TCS 4.31 lacs @ 2450.05 value 105.59 crs ( Bulk Deal / Block Deal )

 

Sunil Hitech Engineers bags order worth Rs 83 crore

The order is for construction of 2,000 units G+3 Visthapit Awas by Jharia Rehabilitation and Development Authority, Dhanbad
Sunil Hitech Engineers has bagged order worth Rs 83 crore for construction of 2,000 units G+3 (four Storey) Visthapit Awas by Jharia Rehabilitation and Development Authority, Dhanbad, Jharkhand. The project is likely to be executed over a period of 24 months.

Sunil Hitech Engineers is well-established player in EPC and Construction of Road & Bridges, Building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants etc.
source : ventura

 

Nse AXISBANK 1.97 lacs @ 451.05 value 8.92 crs ( Bulk Deal / Block Deal )

 

PTC India Financial Services sanctions loan aggregating to about Rs 825 crore

With the focus to increase its loan portfolio in clean energy projects in India, the company's board sanctioned loans in its meeting held on 26th December 2015
PTC India Financial Services (PFS), a leading Infrastructure Finance company, has sanctioned loans aggregating to about Rs 825 crore for providing financial assistance to power / infrastructure sector in India. With the focus to increase its loan portfolio in clean energy projects in India, the company's board sanctioned loans in its meeting held on 26th December 2015.

The fresh round of loan approvals will help company further expand into renewable energy projects. The cumulative loan assistance sanctioned during the current financial year has reached about Rs 4,330 crore as against Rs 3,562 crore during comparative period of previous year i.e. April 2014 to December 2014. The projects assisted include an annuity based road project as per strategy of PFS for calibrated diversification.

PFS is a non-banking finance company promoted by PTC India. PFS has been granted the status of an Infrastructure Finance Company (IFC) by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain. PFS also provides fee based services viz loan syndication and underwriting etc.
source : ventura

 

L&T’s arm L&T Infotech plans to raise Rs 2,000 crore via IPO

The issue comprises an offer for sale of up to 1.75 crore equity shares of the face value Re 1 each by L&T
L&T Infotech, subsidiary of Larsen & Toubro (L&T) is looking to raise over Rs 2,000 crore through initial public offering (IPO) in the Q4FY16. The issue proceeds will be used to fund future growth plans.

The company had filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for IPO in September. The issue comprises an offer for sale of up to 1.75 crore equity shares of the face value Re 1 each by Larsen & Toubro.

L&T Infotech, a subsidiary of engineering & construction major Larsen & Toubro, figures among India’s top 10 IT service providers. It is currently looking to pursue strategic acquisitions in Germany and France to enhance capabilities and address gaps in language capability, industry & technical expertise and geographic coverage in these countries.
source : ventura

 

Ajmera Realty incorporates subsidiary in London

This investment is planned for real estate construction and development projects in London, United Kingdom
Ajmera Realty & Infra India has incorporated a wholly-owned subsidiary company with name and Style ‘Ajmera Corporation UK’, a Company limited by shares, in Wembley, London in United Kingdom. This investment is planned for real estate construction and development projects in London, United Kingdom.

Ajmera Group is recognized as one of India’s leading Real Estate Company. The reach and interest of the Ajmera Group has only grown with time and has extended to other realms, such as solar power, sports, vaults security, cement and social welfare.
source : ventura

 

Educomp Solutions’ arm to sell one of its land and building to third party

The transaction completion is subject to fulfillment of customary conditions precedents
Educomp Infrastructure & School Management, subsidiary of Educomp Solutions, has executed agreements to sell one of its land and building to third party. The transaction completion is subject to fulfillment of customary conditions precedents. Appropriate announcement shall be made on deal completion.

Educomp Solutions provides learning solutions to schools, governments, teachers, students and parents. It has research and development center located at Noida that creates quality products and services. The solution is based on education principles that help them to design education systems.
source : ventura

 

Suven Life Sciences secures two product patents in Europe and Macau

These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts
Suven Life Sciences has secured two product patents; one product patent from Europe and one product patent from Macau corresponding to its New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030 and 2029. The granted claims of the patents include the class of selective alpha-4-beta-2 compounds discovered by Suven and are being developed as therapeutic agents for major depressive disorder (MDD).

With these new patents, Suven has a total of twenty granted patents from Europe and eight granted patents from Macau. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. The products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.
source : ventura

 

MTNL set to offer free incoming calls on roaming from January 1

Telecom firm’s users have to pay roaming charges for incoming calls outside Delhi and Mumbai
MTNL is all set to offer free incoming calls while roaming across the country for its subscribers starting from January 1, 2016.

At present, telecom firm’s users have to pay roaming charges for incoming calls outside Delhi and Mumbai, where the company operates. Another telecom PSU -- BSNL announced such a scheme - free incoming calls on roaming -- in June this year.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.
source : ventura

 

Infosys arm contributes Rs 4.5 crore for Somanatheswara Temple complex

The contribution of Rs 4.5 crore is towards the architectural and cultural restoration of the temple
Infosys Foundation, the philanthropic arm of IT major Infosys, has contributed Rs 4.5 crore towards the archaeological restoration of the ancient Somanatheswara Temple complex, in the town of Lakshmeshwara, around 40 kms from Hubballi.

The contribution of Rs 4.5 crore is towards the architectural and cultural restoration of the temple, including repair of ancient structures as old as 1,400 years.

Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.
source : ventura

 

TCS recognized as a Leader in mobility services for global banking by Everest Group

The company was recognized as a Leader for its industry wide leading banking solutions, end-to-end offerings in mobility, and its portfolio of clients
Tata Consultancy Services (TCS) has been recognized as a 'Leader' in Mobility Services for Global Banking by leading advisory and research firm, Everest Group, in its report -- 'Mobility Services in Global Banking - Service Provider Landscape with PEAK Matrix Assessment 2015: Revolutionizing the Banking Landscape’.

The company was recognized as a Leader for its industry wide leading banking solutions, end-to-end offerings in mobility, and its portfolio of clients. TCS was also cited for strong delivery, large scale, strong partner ecosystem and Innovation as its key strengths.

TCS was recognized as an industry leader for its global scale of operations, strong business growth, buyer satisfaction, global delivery capabilities in emerging geographies, and investment in proprietary solutions and research.
source : ventura

 

Citigroup hikes stake in L&T Finance Holdings to 7.56%

Citigroup Global Market Mauritius purchased 3.18 crore shares or 1.82% from the secondary market valuing the transaction at about Rs 208.8 crore
Citigroup has increased its stake in financial services firm L&T Finance Holdings from 5.74% to 7.56%. Citigroup Global Market Mauritius purchased 3.18 crore shares or 1.82% of L&T Finance Holdings from the secondary market valuing the transaction at about Rs 208.8 crore.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.
source : ventura

 

NRDC enters into agreement with SAIL for technology transfer

The purpose of this agreement is promotion, development, licensing and commercial exploitation of indigenous technologies, know-how and inventions
NRDC, an enterprise under Ministry of Science & Technology, has entered into an agreement with Research & Development Centre for Iron & Steel (RDCIS) -- corporate R&D unit of Steel Authority Of India (SAIL) for transfer of technologies. The purpose of this agreement is promotion, development, licensing and commercial exploitation of indigenous technologies, know-how and inventions, including the technical and engineering know-how generated by RDCIS.

SAIL-RDCIS and NRDC recognize the respective strengths of the two organizations and accordingly agreed to cooperate in the development of technologies and their transfer to industry for commercial exploitation and socio economic benefits.

SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
source : ventura

 

Sterlite Technologies’ arm wins Rs 2,596 crore Odisha transmission Project

The project is aimed at evacuating power from projects of the Odisha Power Generation Corporation with capacity of 1320 Mw
Sterlite Technologies’ wholly owned subsidiary -- Sterlite Grid, the largest private operator of independent transmission systems in India, has won Rs 2,596 crore ‘Common Transmission System (II)’ Project for generation projects in Odisha. This is one of eight key power transmission projects put for rate-based competitive bidding, Adani Transmission and Essel Infra were among the ones in the race.

The project is aimed at evacuating power from projects of the Odisha Power Generation Corporation with capacity of 1320 Mw. This transmission line is part of the consortium of the eight corridors earmarked to be awarded through TBCB.

Sterlite Technologies (STL) develops & delivers solutions for high speed data communication and power transmission networks, globally. STL is among the global leaders in all its business areas through its operations in India, China & Brazil.
source : ventura

 

INOX Leisure commences commercial operations of new Multiplex Theatre at Goa

The company along with Satyam Cineplexes, is now present in 55 cities with 103 multiplexes, 404 screens and a total seating capacity of 105,196 seats across India
INOX Leisure has commenced the commercial operations of a Multiplex Cinema Theatre, taken on Lease basis, and located at Osia Commercial Arcade, SGPDA Market Complex, Margao, Goa with effect from December 29, 2015. The said Multiplex Cinema Theatre has 2 screens and 335 seats.

INOX, along with Satyam Cineplexes, is now present in 55 cities with 103 multiplexes, 404 screens and a total seating capacity of 105,196 seats across India.

INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India.
source : ventura