LATEST BUSINESS NEWS

Morgan Stanley Asia sells 52.99 lakh shares of City Union Bank

The shares were sold on an average price of Rs 81.40 valuing the transaction to Rs 43.14 crore
Morgan Stanley Asia (Singapore) has sold 52.99 lakh shares of City Union Bank through the open market route. The shares were sold on an average price of Rs 81.40 valuing the transaction to Rs 43.14 crore. On the other hand, Ardisia has bought 49 lakh shares in the company for an average price of Rs 81.46, through open market route valuing the transaction at Rs 39.92 crore.

City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards. The Bank operates in four segments, which includes Corporate/Wholesale banking, Retail Banking, Treasury and Other Banking Operations. The Bank offers services, such as internet banking, mobile banking, including online funds transfer and fixed deposit operations.
source : ventura

 

rama sir will unitech go bankrupt in this challenging environment? porinju s buy call was at 17 rs. now it is 3.8. loss of 80%

 

almost avoid realty stocks , because housing projects are weak , and they are not even pay bank interests also
in noida 2 lakh apartments are not sold because of realty slowdown , this is only one example all over nation so many ....

 

Gammon India transfers 75% of its shareholding in TLL to Bilav Software

Pursuant to this transfer, Transrail Lighting ceases to be a subsidiary of Gammon India
Gammon India has transferred 75% of its shareholding in Transrail Lighting (TLL) to Bilav Software on February 26, 2016. Pursuant to this transfer, Transrail Lighting ceases to be a subsidiary of Gammon India.

Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.
source: ventura

 

UltraTech Cement to acquire JP Associates’ plants for Rs 16,500 crore

The deal will catapult UltraTech’s capacity to 90.7 mtpa from the current 68.3 mtpa
UltraTech Cement is all set to acquire 18.40 million tonne per annum (mtpa) of cement capacity from Jaiprakash Associates (JP Associates) for an enterprise value of Rs 16,500 crore. UltratTech will invest an additional Rs 470 crore to complete an ongoing project to set up 4 mtpa of grinding units. The deal will catapult UltraTech’s capacity to 90.7 mtpa from the current 68.3 mtpa, making it one of the top cement producers in the world.

Kumar Mangalam Birla-owned company will acquire the cement plants with a total capacity of 22.4 mtpa in Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka.

UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement.
source: ventura

 

L&T secures Rs 800 crore contract from DLF

The construction of this office project has started and is expected to be completed by March 2018
Larsen & Toubro (L&T) secured order worth RS 800 crore from DLF to build its office complex in Gurgaon. The 12-acre project would be developed at a cost of Rs 1,100 crore and has a total leaseable area of 2 million sq ft.

The construction of this office project has started and is expected to be completed by March 2018. The project is being designed by Hafeez Contractor and managed by Hill International.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion in revenue. It operates in over 30 countries worldwide.
source: ventura

 

Yes Bank aims to double its market share by 2020

The bank will also launch its credit card services in the first quarter of next fiscal
Yes Bank is aiming to increase its market share to more than two fold at 2.5 per cent by 2020 to emerge as one of the major private sector lenders in the country. The bank will also launch its credit card services in the first quarter of next fiscal.

In its Version 2.0 phase from 2010-2015, Yes Bank grew from being a medium-sized bank to become the smallest large bank in the country with a balance sheet size over Rs 1,00,000 crore.

Yes Bank is a new age private sector bank. The bank offers a full-range of client-focused corporate banking services, including working capital finance, specialized corporate finance, trade and transactional services, treasury risk management services, investment banking solutions etc.
source: ventura

 

Avtar Instalments sells 3.87 lakh shares of Jain Irrigation Systems DVR

The shares were sold on an average price of Rs 40.13 valuing the transaction to Rs 1.55 crore
Avtar Instalments has sold 3.87 lakh shares of Jain Irrigation Systems DVR through the open market route. The shares were sold on an average price of Rs 40.13 valuing the transaction to Rs 1.55 crore.

On the other hand, Competent Finlease has bought 3.27 lakh shares in the company for an average price of Rs 40.21, through open market route valuing the transaction at Rs 1.32 crore.
source: ventura

 

BEML bags order worth Rs 900 crore

The company has bagged order for supply of metro coaches to Kolkata east-west metro line
BEML, a public sector undertaking under the Ministry of Defence, has bagged the prestigious order worth of Rs 900 crore for supply of metro coaches to Kolkata east-west metro line.

BEML, the brand name over a period of five decades, known for its huge Mining & Construction Equipment like Dozers, Excavators, Draglines, Rope Shovels, Pipe Layers etc., has not only maintaining major share in the domestic market, but also has sizeable presence in overseas markets.
source: ventura

 

Ashok Leyland reports 25% rise in February sales

The company has experienced a jump of 31% in its medium and heavy commercial vehicle (M&HCV) products segment to 10,798 units in February 2016
Ashok Leyland, the commercial vehicle manufacturer, has reported an increase of 25% in sales in February 2016 to 13,403 units as against 10,762 units sold in the same period of last year. The company has experienced a jump of 31% in its medium and heavy commercial vehicle (M&HCV) products segment to 10,798 units in February 2016. The company’s light commercial vehicle (LCV) segment witnessed a rise of 3% to 2,605 units in February 2015.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
source: ventura

 

Nse BHARTIARTL 6.83 lacs @ 317.55 value 21.71 crs

 

Nse ECLERX 80 k @ 1329 value 10.63 crs

 

Aurobindo Pharma receives USFDA approval for Acetylcysteine Injection

The approved product has an estimated market size of $28 million for the twelve months ending December 2015
Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Acetylcysteine Injection, 6g/30 mL (200 mg/mL) single-dose vials. The product is expected to be launched in Q1 FY16-17. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Acetadote Injection, 6 g/30 mL, of Cumberland Pharmaceuticals, Inc.

Acetylcysteine Injection is an antidote for acetaminophen (non-aspirin pain reliever or analgesic) overdose indicated to prevent or lessen hepatic injury after ingestion of a potentially hepatotoxic quantity of acetaminophen. The approved product has an estimated market size of $28 million for the twelve months ending December 2015, according to IMS.

This is the 26th ANDA (including two tentative approvals) to be approved out of Unit IV formulation facility in Hyderabad, India used for manufacturing general injectable products. Aurobindo now has a total of 242 ANDA approvals (207 Final approvals including 10 from Aurolife Pharma LLC and 35 Tentative approvals) from USFDA.
source: ventura

 

Zydus Cadila gets USFDA nod for Glyburide and Metformin Hcl Tablets

The group now has 103 approvals and has so far filed over 280 ANDAs
Zydus Cadila has received the final approval from the United States Food and Drug Administration (USFDA) to market Glyburide and Metformin Hcl Tablets USP in strengths of 1.25/250, 2.5/500 and 5/500 mg. The drug falls in the anti-diabetics segment and the group's formulations manufacturing site at Baddi will be producing the drug for the US market.

The group now has 103 approvals and has so far filed over 280 ANDAs since the commencement of the filing process in FY 2003-04.

Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies. It is the only Indian pharma company to launch its own patented NCE - Lipaglyn, the world’s first drug to be approved for the treatment of diabetic dyslipidemia.
source: ventura

 

Nse KANSAINER 7.44 lacs 271.25 value 20.18 crs

 

Maruti Suzuki reports 0.9% fall in February sales

The company’s domestic sales rose marginally by 0.2% in February 2016 at 1,08,115 units
Maruti Suzuki India, country’s largest car maker, has registered a fall of 0.9% in its total car sales (Domestic + Export) for the month of February 2016 at 1,17,451 units, as against 1,18,551 units in 2015. The company’s domestic sales rose marginally by 0.2% in February 2016 at 1,08,115 units, as against 1,07,892 units in corresponding month last year.

Of the total, the company has sold 87,149 units of its passenger cars during last month, down by 3.9% as against 90,728 units in 2015. However, the sales of vans have surged by 10.5% to 12,482 units as against 11,301 units in February 2015. Moreover, the company’s sales of its utility vehicles soared 44.5% to 8,484 units from 5,863 units in February 2015.

The company’s exports have decreased by 12.4% to 9,336 units as against 10,659 units in 2015.
source: ventura

 

Nse ULTRACEMCO 44 k @ 2800 value 12.46 crs

 

Nse GODREJCP 2.15 lacs @ 1223.05 value 26.30 crs

 

Nse SRTRANSFIN 2.39 lacs @ 825 value 19.73 crs

 

Nse MIDTREE 1.30 lacs @ 1450 value 18.95 crs