LATEST BUSINESS NEWS

Today (08.02.16) results :

Monsanto, IPCA Lab, Swelect, GSK Consumer, ICIL, Zicom, AIA Eng, Munjal Auto, PFS, PEL, SRF, Bombay Dyeing, ENIL, Centum, Polaris, Nectar Life, Repco Home, Strides Shashun, Balrampur Chinni, Morepen, GujGas, TIL, Hitachi, VST Tillers, TV Today, JK Tyre, Genus Power, BBTC, Geometric, Omkar Speciality, Inox Wind, Atul Auto, Narayana Hrudalay

 

Today (09.02.16) results :

Central Bank, Ador Welding, CRISIL, Patel Logistics, Mayur Uniquoters, SH Kelkar, Butterfly Gandhimati, Dhanuka Agritech, Oriental Carbon, Minda Corp, Dena Bank, Dredging Corp, STC, Prestige, MOIL, Vindhya Telelink, Jubilant Life, PNB, Ramco Systems, Plastiblend, National Fertiliser, Hinduja Global, Sunil Hitech, Ashapura Minechem, Allahabad Bank, CESC, PFC, Gulf Oil, Dr. Reddy Lab, Mothersun Sumi, Voltamp, SAIL, Renuka, Eros Int, Bharat Forge, GAIL, Ramco Ind, Auro Pharma, Guj Fluoro, Walchand Ind, Hindalco, MRPL, Sonata Software, Dhampur Sugar, Nitin Spinners, Suprajit Ent, Apollo Tyres, Timken, Britannia Ind, GMDC, Magma Corp, Ramco Cement

 

MRSS concludes 100% acquisition of Emtee Research and Consultants

Emtee Research and Consultants has become a WOS of the company with effect from February 08, 2016
Majestic Research Services and Solutions (MRSS) has completed 100% acquisition of Emtee Research and Consultants. The company has further acquired 30% stake there by completing its acquisition of Emtee Research and Consultants. Pursuant to this acquisition, Emtee Research and Consultants has become a Wholly Owned Subsidiary (WOS) of the company with effect from February 08, 2016.

Emtee Research and Consultants is a market research agency which deals in a slew of digital market research offerings aimed at the modern trade audit sector.

MRSS has wide range of offerings such as Eye Tracking, Mobile Analytics, Video Analysis, Facial Recognition, Digital Tracking, Online Communities, Neuroscience, Emotional Analysis etc.
source : ventura

 

Glenmark Pharma launches EMI scheme for cancer patients

The company is planning to introduce a flexi payment scheme for other high-value cancer drugs very soon
Glenmark Pharma has rolled out an EMI scheme for cancer patients in order to help them continue the treatment and meet the high cost of medication. The company has included its two drugs - Abirapro prescribed for prostate cancer and Evermil, indicated for different cancers, such as breast and renal cell carcinoma - under the scheme.

Currently, Abirapro 250 mg in 120-pack size is priced at Rs 39,990. The drug in a 60-pack size costs Rs 19,995 and 30-pack size at Rs 9,998, while the company’s 10-tablet pack of 10 mg Evermil tablets is priced at Rs. 29,965 while the 5 mg tablets in 10 tablet pack is priced at Rs. 19,900.

Moreover, the company is planning to introduce a flexi payment scheme for other high-value cancer drugs very soon. Both Abirapro and Evermil need to be taken for long durations of time ranging from a few months to over a year or more. Both the drugs are critical for the survival of patients.
source : ventura

 

SRF reports 41% rise in Q3 consolidated net profit

Total income of the company has decreased by 1% at Rs 1106.57 crore for quarter under review
SRF has reported results for third quarter ended December 31, 2015.

The company has reported 14.47% rise in its net profit at Rs 83.13 crore for the quarter ended December 31, 2015 as compared to Rs 72.62 crore for the same quarter in the previous year. However, the company’s total income decreased by 1.80% to Rs 870.44 crore for the quarter under review from Rs 886.40 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 41.01% rise in its net profit after taxes, minority interest and share of profit of associates of Rs 100.68 crore for the quarter ended December 31, 2015 as compared to Rs 71.40 crore for the same quarter in the previous year. However, total income of the company has decreased by 1% at Rs 1106.57 crore for quarter under review as compared to Rs 1117.79 crore for the quarter ended December 31, 2014
source : ventura

 

GlaxoSmithkline Consumer Healthcare reports 37% rise in Q3 net profit

The total income of the company has increased marginally by 1.78% to Rs 1086.32 crore for the quarter under review
GlaxoSmithkline Consumer Healthcare has reported results for third quarter ended December 31, 2015.

The company has registered a rise of 36.76% in its net profit at Rs 131.85 crore in Q3FY16 as compared to Rs 96.41 crore in the corresponding quarter previous year. The total income of the company has increased marginally by 1.78% to Rs 1086.32 crore for the quarter under review as compared to Rs 1067.27 crore in the same quarter last year.

GlaxoSmithKline Consumer Healthcare is a subsidiary of GlaxoSmithKline plc of UK. GlaxoSmithkline Consumer Healthcare’s core business is manufacturing of health drinks under the brand Horlicks. It exports products to countries like Bangladesh, Myanmar, Sri Lanka, Middle East, Fiji, Mauritius, Nepal, Bhutan and many more.
source : ventura

 

Strides Shasun to acquire a strategic stake in Generic Partners Holdings, Australia

The transaction is subject to statutory approvals & customary closing conditions and expected to close by April 30, 2016
Strides Shasun has signed definitive agreements to acquire a strategic stake in Generic Partners Holdings, an Australian pharmaceutical supply and research company. The transaction is subject to statutory approvals & customary closing conditions and expected to close by April 30, 2016. The acquisition provides Strides Shasun immediate access to 47 commercialized marketing authorizations making Arrow the second largest generic pharmaceutical products company in Australia with a portfolio of over 180 molecules. The acquisition also provides access to 22 registrations pending approval with TGA and strong pipeline of 32 molecules including host of drugs going off patent in future. Going forward Arrow will consolidate its R&D initiatives for the Australian market under Generic Partners, leveraging its strong product development and registration capabilities. Generic Partners is one of Australia's leading B2B suppliers of generic pharmaceuticals. The business will continue to work independently with all its existing supply partners and customers using the additional resources of Strides Shasun to build a stronger supply channel for the Australian market. Generic Partners is one of Australia's leading B2B suppliers of generic pharmaceuticals. The business will continue to work independently with all its existing supply partners and customers using the additional resources of Strides Shasun to build a stronger supply channel for the Australian market.

Under the terms of the agreement, Strides Shasun will hold 51% of the issued capital of Generic Partners and the remaining equity will continue to be held by the current promoters. This is an all cash deal for an upfront consideration of AUD 15 Million and a commitment of AUD 10 Million to fund future R&D. The acquisition shall be made through Arrow Pharmaceuticals Pty Ltd, a wholly owned subsidiary of Strides Shasun.

Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
source : ventura

 

IntraSoft Technologies raises Rs 34.50 crore to expand e-commerce business

The company has sold 12,00,000 shares at a rate of approximately Rs 288 per share
IntraSoft Technologies has raised Rs 34.50 crore by selling 12,00,000 shares, at a rate of approximately Rs 288 per share. The entire net proceeds from this transaction are proposed to be used for expansion and growth activities related to the e-commerce business. The shares were sold by Intrasoft Beneficiary Trust, whose sole beneficiary is the company.

Intrasoft Beneficiary Trust was set up in 2007 pursuant to a scheme of amalgamation that was approved by the Bombay High Court and the Calcutta High Court, to hold shares solely for the benefit of the company. After the completion of this transaction, the entire number of equity shares held by the Intrasoft Beneficiary Trust has been sold and now the Trust does not hold any further shares of the company.

IntraSoft Technologies owns & operates 123Stores, an Online E-Commerce Retailer & 123Greetings.com, an online greeting cards company.
source : ventura

 

Monsanto India reports 16% fall in Q3 net profit

The company’s total income has increased by 12.71% to Rs 156.45 crore for the quarter under review
Monsanto India has reported results for third quarter ended December 31, 2015.

The company has reported 15.68 % fall in its net profit at Rs 40.76 crore for the quarter ended December 31, 2015 as compared to Rs 48.34 crore for the same quarter in the previous year. However, the company’s total income has increased by 12.71% to Rs 156.45 crore for the quarter under review from Rs 138.81 crore for the corresponding quarter of the previous year.

Monsanto Company has many revolutionary products and technological breakthroughs in the agricultural sciences to its credit. The Products of the company includes, Bollgard cotton, Rasi Seeds, hybrid crops such as corn, sunflower and cotton.
source : ventura

 

Balrampur Chini Mills turns black in Q3

Total income from operations of the company has increased by 0.92% at Rs 852.36 crore for quarter under review
Balrampur Chini Mills has reported results for third quarter ended December 31, 2015.

The company has reported a net profit of Rs 87.80 crore for the quarter as compared to net loss of Rs 65.69 crore for the same quarter in the previous year. Total income of the company increased by modest 0.92% at Rs 852.36 crore for quarter under review as compared to Rs 844.62 crore for the quarter ended December 31, 2014

Balrampur Chini is one of the largest integrated sugar manufacturers in India. Its business portfolio consists of manufacturing and marketing of sugar, ethyl alcohol, ethanol, generation and selling of power and also manufacturing and marketing of organic manure.
source : ventura

 

Mindtree signs service integration capabilities agreement with Sandvik

Mindtree will design, setup and manage a geography hub that will serve to consolidate and streamline Sandvik’s global operations providing flexibility and agility to their IT landscape
Mindtree, a leading digital transformation and technology services company, has been selected by Sandvik, a global engineering group in tooling, materials technology, mining and construction, to foster its IT service integration capabilities. In this engagement, Mindtree will design, setup and manage a geography hub that will serve to consolidate and streamline Sandvik’s global operations providing flexibility and agility to their IT landscape. Mindtree and Sandvik will work together on building efficiencies and economies-of-scale across Sandvik’s global organization, providing it the scale necessary to build, operate and reinforce its service management capabilities.

Mindtree is a global information technology consulting firm specializing in corporate IT services and solutions. It provides services such as Application Maintenance Services, Business Intelligence, Mainframe and System I, Infrastructure Management and Technical Support, etc.
source : ventura

 

Tata Power generates 35093 MUs in Q3 FY16

Tata Power aims to boost the generation capacity to 18000 MW, and its distribution to 4000 MW
Tata Power, India's largest integrated power company has generated 35093 MUs (Million Units) of power, collectively from all its power plants in Q3 FY16. The Company also reported significant increase in generation, with the total power generation capacity of Tata Power in India standing at 9036 MW from various fuel sources such as thermal, hydroelectric power, renewable energy (wind and solar PV) and waste heat recovery, thereby reinforcing its position as the largest integrated power company in India.

Surpassing the set benchmark of the previous fiscal, Coastal Gujarat Power (CGPL) and Maithon Power (MPL) have contributed 18761 MUs and 5377 MUs in Q3 FY16. By 2022, Tata Power aims to boost the generation capacity to 18000 MW, and its distribution to 4000 MW. The Company also has a significant presence in the clean energy space with a gross installed capacity of 1383 MW. Currently, Tata Power has a total operating capacity of 511 MW from Wind farms and 60 MW in Solar Generation. In addition, the Company has 573 MW of hydro and 240 MW from waste gas-based generation.

Tata Power is India’s largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of [9036] MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
source : ventura

 

Godrej Properties’ sale bookings may increase two fold in FY16

The real estate arm of Godrej group has achieved a sales booking of Rs 4,422 crore in the first nine months of this financial year
Realty firm Godrej Properties’ sale bookings are likely to increase two fold at Rs 5,500 crore in FY16 despite slowdown in the property market. A sharp jump in the sales booking is on account of monetisation of its office space in Bandra Kurla Complex (BKC) in Mumbai for Rs 1,480 crore and a good response from its housing project ‘The Trees’ at Vikhroli.

The real estate arm of Godrej group has achieved a sales booking of Rs 4,422 crore in the first nine months of this financial year, up 96% from the previous year. Of the total sales booking so far, the residential segment contributed Rs 2,930 crore and commercial Rs 1,492 crore.

Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra.
source : ventura

 

Repco Home Finance reports 26% rise in Q3 net profit

The total income of the company has increased by 28.31% to Rs 225.46 crore for the quarter under review
Repco Home Finance has reported results for third quarter ended December 31, 2015.

The company has registered a rise of 25.50% in its net profit at Rs 38.58 crore in Q3FY16 as compared to Rs 30.74 crore in the corresponding quarter previous year. The total income of the company has increased by 28.31% to Rs 225.46 crore for the quarter under review as compared to Rs 175.71 crore in the same quarter last year.

Repco Home Finance is a professionally managed housing finance company headquartered in Chennai, Tamil Nadu. The company is operating through 80 branches and 13 satellite centres in Tamil Nadu, Andhra Pradesh, Kerala, Karnataka, Maharashtra, Gujarat, Odisha, West Bengal and Puducherry.
source : ventura

 

JK Cement resumes production of clinker and cement

The company had stopped production of clinker and cement at its 3 MnTPA grey cement manufacturing unit viz. J.K.Cement Works, Muddapur
JK Cement has resumed production of clinker and cement with operation of the Kiln by making an alternate arrangement using two RBC belts for feeding the clinker directly to the Cement Mill.

Earlier on January 27, 2016, the company had stopped production of clinker and cement at its 3 MnTPA grey cement manufacturing unit viz. J.K.Cement Works, Muddapur, Taluka Mudhol, Dist: Baglakot, Karnataka due to sudden suddenly caved-in of the clinker silo roof.

JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
source : ventura

 

INOX Leisure discontinues commercial operations of multiplex cinema theatre at Panchkula

The company has commenced commercial operations of the multiplex cinema theatre taken on Lease basis in Surat
INOX Leisure has terminated the Lease Deed with the owner and has accordingly discontinued the commercial operations of the multiplex cinema theatre situated at 4th Floor, Shalimar Mega Mall, Sector - 5, Panchkula in state of Haryana, having 3 screens and 652 seats.

The company has commenced the commercial operations of the multiplex cinema theatre, taken on Lease basis, and located at DR World, Aai Mata Chowk, Parvat Patia, Surat, having 4 screens and 819 seats, with effect from February 07, 2016.

INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India. INOX, along with Satyam Cineplexes, is now present in 56 cities with 105 multiplexes, 414 screens and a total seating capacity of 1,07,743 seats across India.
source : ventura

 

Strides Shasun to acquire controlling stake in Universal Corporation, Kenya

The transaction is subject to statutory approvals and customary closing conditions and expected to be close by 30 June 2016
Strides Shasun has signed definitive agreements to acquire a controlling stake in Universal Corporation, Kenya. The transaction is subject to statutory approvals and customary closing conditions and expected to be close by 30 June 2016. With this acquisition, the company will get a strong presence in the key east African markets and will complement its current capacities of six strategically located plants across major geographies in Sub Saharan Africa.

Under the terms of the agreement, the company will hold 51% of the issued capital of Universal and the remaining 49% will continue to hold by the current promoters. This is an all-cash deal & the total consideration will consist of initial pay out of $11 million and a performance related earn out capped at $ 3 million for achieving an EBITDA of $ 2.95 million for 2015. The acquisition will be made through Strides Pharma (Cyprus), a wholly owned subsidiary of the company.

Strides Shasun (formerly known as Strides Arcolab) is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
source : ventura

 

RAMCO CEMENT Q3 PAT Rs.118cr vs Rs.24cr yoy, vs Rs.140cr qoq

 

PNB Q3 PAT Rs.51cr (incl Tax Write back of Rs.909cr) vs Rs.775cr yoy, vs Rs.621cr qoq

 

MOTHERSON SUMI Q3 cons PAT Rs.307cr vs Rs.254cr yoy, vs Rs.287cr qoq