LATEST BUSINESS NEWS

DHFL reports 29% rise in Q2 net profit

Total Income of the company has increased by 19.66 % to Rs 2167.72 crore for quarter under review

Dewan Housing Finance Corporation has reported results for second quarter ended September 30, 2016.

The company has reported 28.96% rise in its net profit at Rs 232.61 crore for the quarter under review as compared to Rs 180.37 crore for the same quarter in the previous year. Total income of the company increased by 19.66 % at Rs 2167.72 crore for Q2FY17 as compared Rs 1811.64 crore for the corresponding quarter previous year.

Dewan Housing Finance Corporation is among the oldest private sector Housing Finance Companies (HFC) in India.
source:Ventura

 

Stock is not shooting up I was expecting UC

 

Lypsa Gems reduces secured debt by 25%

Debt Equity Ratio has dropped from 1.03x to 0.75x

Lypsa Gems and Jewellery has reduced its secured debt by 25%. As of today, the company’s debt stands at Rs 23.50 crore down from Rs 31 crore as of March 31, 2016. The company has paid Rs 7.50 crore to Bank of India to reduce the debt burden. Debt Equity Ratio has dropped from 1.03x to 0.75x. This is a remarkable achievement by the Company, especially in the hard times that the diamond industry has been facing. Lypsa is amongst one of the very few Diamond companies to have initiated Debt Repayment.

Lypsa Gems & Jewellery is wholly integrated diamond company sourcing rough diamonds from the major diamond mines, cutting and polishing them in its own factories & marketing its product to clients across the globe. The company strives to sell polished diamonds directly to the jewelers, thereby eliminating the middlemen margin and passing on the price advantage to its customers.
source:Ventura

 

RIL plans to shutdown FCCU in DTA unit of Jamnagar refinery

The shutdown will provide an opportunity to carry out a revamp job in one of the Polypropylene units

Reliance Industries (RIL) is planning to shut down the fluidized catalytic cracking unit (FCCU) in the DTA unit of its Jamnagar refinery for routine maintenance & inspection activities from the second week of November 2016 for about 5 weeks.

The shutdown will provide an opportunity to carry out a revamp job in one of the Polypropylene units. All the four crude distillation units along with other major secondary processing units are expected to operate at normal throughput.

RIL is an India-based private sector company, with business in energy and materials value chain and in retail and digital services. The Company operates in four segments: refining, petrochemicals, oil & gas and organized retail. The refining segment includes production and marketing operations of the petroleum products.
source:Ventura

 

Today (19.10.16) foll cos. will declare Q2 results :

Agrotech Foods, Aptech, Hindustan Zinc, Kirloskar Ind, KPIT, NIIT, Quess Corp, RBL Bank, Thirumalai Chemicals, Tata Coffee, MCF
source : ventura

 

M&M acquires 60% stake in Classic Legends

The company has subscribed to and has been allotted 60,00,000 equity shares of Rs 10 each on preferential basis

Mahindra & Mahindra (M&M) has acquired 60% stake in Classic Legends (CLPL) on October 18, 2016. The company has subscribed to and has been allotted 60, 00,000 equity shares of Rs 10 each of CLPL constituting 60% of its post-issue capital, on preferential basis.

The acquisition is to enable CLPL directly or indirectly, manufacture, market, sell, distribute two-wheelers globally by directly or indirectly acquiring/obtaining license of brands.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
source : ventura

 

International Finance Corporation sells 86.46 lakh shares of Fortis Healthcare

The shares were sold on an average price of Rs 183.30 valuing the transaction to Rs 158.49 crore

International Finance Corporation has sold 86.46 lakh shares of Fortis Healthcare through the open market route. The shares were sold on an average price of Rs 183.30 valuing the transaction to Rs 158.49 crore. On the other hand, Nomura India Investment Fund Mother Fund has bought 68.70 lakh shares in the company for an average price of Rs 183.29, through open market route valuing the transaction at Rs 125.93 crore.

Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.
source : ventura

 

Nalco reports 5.8% growth in aluminium sales in April-September

The state-run aluminium company has sold 181,000 tonne of aluminium in this period

National Aluminium Company (Nalco) has reported a growth of 5.8% in its aluminium sales in the April-September period, overcoming sluggish market conditions. The state-run aluminium company has sold 181,000 tonne of aluminium in this period against a production figure of 188,000 tonne. The company has also registered a growth on 8.5% in Alumina hydrate sales during the same period at 581,000 tonne out of a total production figure of 968,000 tonne.

In terms of production, the state-run company’s performance was stellar, especially bauxite mining, which increased 23.6% at 3.5 mt. Aluminium output by the navratna company jumped 4.2% higher than the corresponding period of last fiscal. In the period under review, the company’s net power generation went up 3.6% to reach 2945 million units.

Moreover, the company generated 130 million units of wind power, marking a growth of 14.7 per cent over the comparable period of 2015-16.

Nalco has the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium, captive power generation to a strong logistic network in terms of rail & port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the globe.
source : ventura

 

Engineers India inks MoU with Cochin Shipyard for LNG carriers

The MoU aims to leverage Engineers India’s strengths in process and systems engineering and Cochin Shipyard’s strengths in ship design and construction

Engineers India (EIL) and Cochin Shipyard (CSL) have joined hands for design and construction of small scale LNG carriers. This initiative, under the ambit of ‘Make in India’ programme, aims at joint design and building small-scale LNG carriers. Both the companies have inked a Memorandum of Understanding (MoU) for the same.

The MoU aims to leverage EIL’s strengths in process and systems engineering and CSL’s strengths in ship design and construction. The MoU would create an LNG value chain ecosystem to cater to the coastal and inland water transport segment in the Indian sub-continent.

Engineers India is a total solutions consultancy company and EPC contractor in petroleum refining, petrochemicals, pipelines, oil and gas terminals and storages, fertilizers, mining & metallurgy and infrastructure projects. The company is also diversifying into water and waste management and has made inroads into nuclear, solar and thermal power sectors.
source : ventura

 

L&T Technology Services secures multi-million dollar contract

The company has bagged the contract a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products

L&T Technology Services, a leading global provider of digital engineering solutions has secured a new multiyear, multi-million dollar contract with a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products.

L&T Technology Services is a subsidiary of Larsen & Toubro with a focus on Engineering R&D Services servicing customers including a number of Fortune 500 companies globally. The company has 9,406 employees, 12 global delivery centers in India and overseas, 27 sales offices in India, North America Europe, the Middle East and Asia and 31 labs in India as of March 31, 2016.
source : ventura

 

Apollo Hospitals’ arm to raise Rs 450 crore to fund expansion plans

The subsidiary will utilize the proceeds on expanding the number of clinics to 150 from the present 78

Apollo Hospitals Enterprise’s (AHEL) - Apollo Clinics, plans to raise Rs 450 crore for expanding the network of clinics. Apollo Clinics, which runs multi-speciality clinics, is part of the Apollo Health and Lifestyle (AHLL), a wholly-owned subsidiary of AHEL. It is also looking to dilute about 20% of its equity.

A player in the healthcare industry will pick up equity in the group’s arm to infuse the funds. The subsidiary will utilize the proceeds on expanding the number of clinics to 150 from the present 78.

Apollo Hospitals is the leading private sector healthcare provider in Asia and owns and manages a network of speciality hospitals and clinics, a chain of Pharmacy retail outlets across the country, and provides Consultancy Services for commissioning and managing the Speciality Hospitals.
source : ventura

 

Aarti Industries diversifies into toluene-based derivatives

The company is expecting to generate revenues of Rs 350-400 crore over the next three-four years from the project

Aarti Industries has reportedly diversified into toluene-based derivatives this year by setting up 30,000 tonne per annum (TPA) greenfield capacity at Jhagadia (Gujarat). The project, which is expected to commence operations in second half of FY17, will achieve capacity utlisation of 25-30 percent in FY17 and 70-80 percent in FY19. The company is expecting to generate revenues of Rs 350-400 crore over the next three-four years from the project.

The company has already commissioned an ethylation unit with capacity of 8000-10000 TPA capacity to manufacture ethylene derivatives at Dahej, which will receive input material from the toluene plant.

Aarti Industries is engaged in manufacturing of dyes, pigments, pharmaceuticals, agro chemicals and rubber chemicals. It operates in four segments: basic chemicals, specialty chemicals, agro chemicals and pharmaceuticals.
source : ventura

 

Jet Airways to enhance connectivity to SAARC and the Gulf

Introduction of a second daily service between Mumbai - Kathmandu, will double its current capacity between the two cities

Jet Airways, India's premier international airline, is set to enhance connectivity between India and SAARC as well as Gulf. Effective October 30, as part of its new winter schedule, Jet Airways will introduce additional frequencies to Kathmandu from Mumbai and New Delhi respectively. At the same time, it will also significantly strengthen its connectivity to the Gulf from Kerala, with daily flights to Dubai and Doha from Thiruvananthapuram, complementing the recently announced daily flight between Kozhikode and Sharjah.

Aside from offering guests greater choice, convenience and flexibility, the additional flights to Kathmandu and the Gulf, will facilitate a speedier, more seamless transition onto Jet Airways’ extensive domestic network and onwards to other international destinations, further cementing its position as the carrier of choice for discerning guests. Introduction of a second daily service between Mumbai - Kathmandu, will double its current capacity between the two cities. Similarly, capacity between Kathmandu and New Delhi will also be augmented with a new third daily service. These additions will help Jet Airways enhance its connectivity to the SAARC region including countries such as Bangladesh and Sri Lanka, with 140 weekly flights, half of them to Nepal.

Jet Airways is India’s premier international airline which operates flights to 67 destinations, including India and overseas. Jet Airways’ robust domestic India network spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.
source : ventura

 

Quess Corp inks definitive agreement to acquire 45% stake in Simpliance

Simpliance has a strong technology background and experience in the field of human resources and labour compliance

Quess Corp (Quess) has entered into a definitive agreement to acquire 45% stake in Simpliance Technologies (Simpliance). The company’s investment is focused on helping develop and ramp-up the Simpliance technology platform which is aimed at providing a one stop comprehensive solution for meeting the labour compliance requirements of corporates.

Simpliance is a Bengaluru based compliance technology firm headed by Anil D’Souza, an ex-Naval officer with a strong technology background and experience in the field of human resources and labour compliance. The technology platform developed by Simpliance has been piloted at corporates and staffing companies with successful results.

Simpliance will continue to be managed by the existing Key Management Personnel headed by Anil D Souza. Quess will pay a consideration of Rs 2.5 crore as fresh equity for a 45% stake and the investments will be used to enhance the existing platform. Closing of the transaction is subject to, fulfillment of certain conditions precedent set out in the agreement between the parties to the satisfaction of Quess, and statutory and regulatory approvals.
source : ventura

 

LIC Housing Finance reports 20% rise in Q2 net profit

Total income of the company increased by 12.97 % at Rs 3489.91 crore for the quarter under review

LIC Housing Finance has reported results for second quarter ended September 30, 2016

The company has reported 20.16 % rise in its net profit at Rs 494.76 crore for Q2FY17 as compared to Rs 411.74 crore for the same quarter in the previous year. Total income of the company increased by 12.97 % at Rs 3489.91 crore for the quarter under review as compared to Rs 3089.36 crore for the corresponding quarter previous year.

LIC Housing Finance is one of the largest Housing Finance Company in India. The main objective of the company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses.
source : ventura

 

KIRLOSKAR PNEUMATIC Q2 PAT Rs.6cr vs Rs.7.3cr yoy

 

D. B. Corp reports 56% rise in Q2 consolidated net profit

Total income of the company has increased by 9.68% at Rs 532.84 crore for quarter under review

D. B. Corp has reported results for second quarter ended September 30, 2016.

The company has reported 55.07% rise in its net profit at Rs 89.49 crore for the quarter under review as compared to Rs 57.71 crore for the same quarter in the previous year. Total income of the company increased by 9.75% at Rs 532.87 crore for Q2FY17 as compared Rs 485.51 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 55.94% rise in its net profit after tax, minority interest and after extraordinary items of Rs 88.51 crore for the quarter ended September 30, 2016 as compared to Rs 56.77 crore for the same quarter in the previous year. The total income of the company increased by 9.68% at Rs 532.84 crore for quarter under review as compared to Rs 485.83 crore for the quarter ended September 30, 2015.
source : ventura

 

KAJARIA CERAMICS Q2 cons PAT Rs.64cr vs Rs.59cr yoy vs Rs.63cr qoq

 

Yes Bank reports 31% rise in Q2 net profit

Total income of the bank increased 24.70% to Rs 4982.23 crore for Q2FY17

Yes Bank has reported results for second quarter ended September 30, 2016.

The Bank has reported 31.31% rise in its net profit at Rs 801.54 crore for the quarter ended September 30, 2016 as compared to Rs 610.41 crore for the same quarter in the previous year. Total income of the bank increased 24.70% to Rs 4982.23 crore for Q2FY17 from Rs 3995.34 crore for the corresponding quarter in previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 0.83% as compared to 0.61% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.29% in Q2FY17.
source : ventura

 

Today (21 .10.16) foll cos. will declare Q2 results :

Atul, Cairn, Bhageria Ind, ACC, Akzo Noble, Apar, GHCL, Equitas, Everest Ind, HCL Tech, Indiabull Hsg Fin, Oberoi Realty, Onward Tech, Menon Bearings, Mind Tree, JSW Holding, Kirloskar Oil, Kalyani Steel, SKF India, Persistent, RPG Life, Rane Engine, SBBJ, Trident, Unichem Lab, Tata Sponge, Vguard, Wipro, Zuari Agro

source: Ventura and nseindia