LATEST BUSINESS NEWS

Tata Motors’ JLR to double the size of its engine plant

The EMC is home to the high technology, low emission Ingenium engine - JLR’s first venture into in-house engine manufacturing in a generation

Tata Motors’ subsidiary Jaguar Land Rover (JLR) is planning to double the size of its Engine Manufacturing Centre (EMC) as part of a £450m expansion programme. This latest expansion is a clear signal of the company’s long-term commitment to Britain. Total investment in the site, which opened a year ago, now stands at £1 billion making it the most significant new automotive manufacturing facility to be built in the UK in the last decade. The EMC is home to the high technology, low emission Ingenium engine - JLR’s first venture into in-house engine manufacturing in a generation. In just twelve months, the Midland based facility has moved from prototype production to full-scale manufacture with more than 50,000 engines coming off the production line.

The Ingenium engine launched initially in the Jaguar XE in April 2015 and was followed quickly by the Discovery Sport, two of the most significant product launches from the British manufacturer accounting for sales of 65,800 in the year so far. The EMC has cemented its position as the heart of JLR’s UK manufacturing operations supplying all three vehicle plants with engines which also power the Range Rover Evoque, all-new Jaguar XF and soon to be launched ground breaking Jaguar F-Pace.

This latest phase in the development of the EMC will see the site increase its operational footprint to 200,000 square metres, supporting capacity uplift as the company continues on its product offensive to deliver more exciting new products to customers.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
source : ventura

 

BGR Energy secures new orders worth Rs 300 crore

It consists of two substation contracts from state utility TSTRANSCO and an e-BoP contract from National power major NTPC
BGR Energy has received new order worth Rs 300 crore in the electrical sub-section segment through its Electrical Projects Division. It consists of two substation contracts from state utility Transmission Corporation of Telangana (TSTRANSCO) and an e-BoP contract from National power major NTPC.

The two orders secured from TSTRANSCO include construction of 400/220 kv Substation at Lulurupadu (Bommanapalli) in Khammam district and Construction of 400/220 kV AIS Substation at Nirmal in Adilabad district on turnkey basis in Telangana State. The order from NIPC is for Electrical Equipment Supply and Erection Package for TANDA Thermal Power Project Stage II at Vidyut Nagar District, Uttar Pradesh on turnkey basis.

BGR Energy Systems is engaged in supplying of systems and equipment and contracting turnkey engineering project. The company started as a joint venture between GEA Energietechnik GmbH, Germany and the promoter B G Raghupathy in order to produce and sell on-line condenser tube cleaning systems, debris filters and rubber cleaning balls used in thermal and nuclear power plants.
source : ventura

 

vakrangee enters into agreement with Bank of Baroda

As per the scope of work, the company shall be opening at least 2 accounts for each household (out of 2 accounts one should be of the lady member of the house)
Vakrangee has executed an agreement with the Bank of Baroda in Mumbai appointing the company as its National Business Correspondence on Pan India Basis. As per the scope of work of the company engagement with Bank of Baroda, in addition to other normal banking activities, the company shall be opening at least 2 accounts for each household (out of 2 accounts one should be of the lady member of the house)

As per ‘Pradhan Mantri Jan Dhan Yojana Scheme’, the objective is to bring every Indian into the banking net including the poorest of the poor with minimum 2 accounts for each household. The scheme aims to provide bank accounts to 15 crore individuals in Rural and Urban India with along with a life insurance cover of Rs 1 lakh. These accounts shall be linked with Aadhaar number of the accounts holders and would become the single point for receipt of all Direct Benefit Tranfers (DBT) from Central/State Government/ Local Bodies.

Vakrangee, incorporated in 1990 is Capability Maturity Model Integration (CMMI) level 3 company. The company is an established player as systems integrator and IT-enabled solutions provider in the Indian e-Governance space with capabilities including Document Management system (DMS) and Printing Management system (PMS).
source : ventura

 

Nse MARUTI 50 k @ 4641 value 23.23 crs (Bulk / Block Deals)

 

NSE: AXISBANK 39 lcas @ 466 value :182.47 crs ( Block / Bulk Deal )

 

NSE: GLENMARK 2 lacs @ 967 value : 19.34 crs ( Block / Bulk Deal )

 

Bain Capital to exit Hero MotoCorp by selling its residual stake for Rs 760 crore

The US private-equity firm is selling its remaining stake at 1.7 per cent to 2.85 per cent discount
Bain Capital is set to exit Hero MotoCorp by selling its residual stake for Rs 760 crore in the Indian two-wheeler maker in a block deal. The US private-equity firm is selling its remaining stake at 1.7 per cent to 2.85 per cent discount within a price band of Rs 2,570 to Rs 2,600 per share. Morgan Stanley has been appointed to manage the deal which is likely to be concluded when markets open on Friday.

Hero MotoCorp is the world’s single largest two-wheeler motorcycle company. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
source : ventura

 

Lumax Auto Technologies enters into JV agreement with SIPAL S.p.A, Italy

The proposed JV is expected to become operational in FY 2017
Lumax Auto Technologies has entered into Joint Venture (JV) agreement with SIPAL S.p.A of Italy (part of the Turin based euro 240 million FININC S.p.A. group) to entered into the Indian aerospace and defence sector. As per the JV agreement, the company will hold 51% equity with management control over the JV and SIPAL S.p.A. will hold 49% equity in the new JV company under formation.

The proposed JV is expected to become operational in FY 2017 and will be a full service provider for all type of Integrated Logistic Support Engineering having a strong knowledge and experience in Technical Publishing, Product / Manufacturing engineering, Process engineering, design and manufacture of toolings, design of systems of production lines related to the Aerospace, Defence & Automotive sectors.

Lumax Auto Technologies is a part of the D.K. Jain Group of companies that has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industries.
source : ventura

 

RMSC sir, CM of Bihar declared ban on alcohol products in bihar wef 1st April 2015 and the alcohol related company stocks started moving downward. Do you think their business will be affected by a ban in just two states (kerala and bihar)? Gujarat State already has a ban (since many years) but they are trying to lift the ban.

 

Yes , kerala is the largest market it may loose , public opposing slowly and it is also adding parties policies for women vote catching ... so better avoid all alchhol , cigarete , ghutka manufacturing companies and search another companies they want to diversify other sectors like ITC is exceptional stock in this tobacco category

 

But RMSC sir, the main business of ITC is cigarette and lateron ITC diversified into FMCG. If they make loss in cigarette and profit in FMCG, it is likely that the profit in FMGC may cover the loss in cigarette. Then what?

 

I have always stayed away from Alcohol products and Tobacco products. I also always prefer to stay away from Alcohol and Tobacco stocks.

 

SKS Microfinance slashes interest rate to 19.75%

This is the fourth interest rate reduction, aggregating 4.8%, announced by the company since October 2014
SKS Microfinance has decided 1% reduction in the interest rate charged to borrowers from 20.75% to 19.75% with effect from December 7, 2015, for all future disbursals. With this, the company becomes the first micro finance institution to charge a sub-20% interest rate on its core Income Generating Loans (IGL) which are unsecured micro loans. Interest rate of 19.75% is the lowest rate charged by any private sector MFI in the world.

This is the fourth interest rate reduction, aggregating 4.8%, announced by the company since October 2014. The reductions are consistent with the company’s policy of passing on the cost advantages accruing from reduction in the cost of borrowing and economies of scale to its borrowers.

SKS Microfinance could reduce its marginal cost of borrowing to 11.3% in Q2-FY16 from 13.6% in FY14 on account of downward adjustments in risk premium. Marginal cost of borrowing for H2-FY16 is expected to be lower than 11.3% given the company has accessed refinance from MUDRA at 10% and issued commercial papers at 9.5% per annum in October and November 2015.

The company’s sustained turnaround, improved profitability in FY15, Q1-FY16 and Q2-FY16, capital raise in May 2014, rating upgrade as also issuance of Commercial Papers and NonConvertible Debentures are the factors that drove the reduction in its cost of borrowing.

SKS Microfinance is a non-banking financial company - micro finance institution, provides micro finance services to women in the rural areas in India who are enrolled as members and organized as joint liability groups.
source : ventura

 

Astra Microwave Products enters into MoU with Unique Broadband Systems

The company has entered into MOU to form a 50:50 joint venture company to do business in the areas of UHF broadcasting, satellite up linking and medical imaging products
Astra Microwave Products has entered into Memorandum of Understanding (MOU) to form a 50:50 joint venture company with Unique Broadband Systems, Canada to do business in the areas of UHF broadcasting, satellite up linking and medical imaging products for Indian and other regional markets specially South Asia and Russian Federation.

Astra Microwave Products is engaged in designing and manufacturing of radio frequency (RF) and microwave super components and sub-systems that are used in areas of defence, space and civil communication systems.
source : ventura

 

Nse IDEA 10.41 lacs @ 144 value 14.99 crs (Bulk / Block Deals)

 

Sequoia Capital India sells 3.60 lakh shares of Just Dial

The shares were sold on an average price of Rs 960.92 valuing the transaction to Rs 34.59 crore
Sequoia Capital India Investments III has sold 3.60 lakh shares of Just Dial through the open market route. The shares were sold on an average price of Rs 960.92 valuing the transaction to Rs 34.59 crore.

Just Dial is one of the leading local search engines in India. It provides users search services with information and user reviews from its database of local businesses, products and services across India.
source : ventura

 

PTC India Financial Services inks loan agreement with OeEB

PFS will utilize the ECB towards growth of its renewable loan portfolio
PTC India Financial Services (PFS), a leading Infrastructure Finance Company, has signed an agreement with OESTERREICHISCHE ENTWICKLUNGSBANK AG (OeEB), the Development Bank of Austria for External Commercial Borrowing (ECB) of $20 Million at highly competitive interest rate.

As per the agreement, PFS will utilize the ECB towards growth of its renewable loan portfolio and help it in lowering its interest cost which has total tenure of about 10 years including two year moratorium on principal repayments.

PFS is a non-banking finance company promoted by FTC India Limited. 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

 

BEML launches ‘BL120H’ compact loader cum excavator

BL120H is unique equipment capable of performing loading as well as excavating jobs simultaneously
BEML, a Public Sector Company under the Ministry of Defence and the premier manufacturer of heavy earthmoving machinery, has introduced BL120H, the Compact Loader cum Excavator, deployable in the Construction Sector. BL120H is unique equipment capable of performing loading as well as excavating jobs simultaneously. Yet another ‘Made-in-India’ product, BL120H is the resultant of BEML R&D innovation efforts. The equipment has various special features like load sensing hydraulic system for optimum use of engine power and improved fuel efficiency.

The powershift transmission, spacious and ergonomically designed hexagonal FOPS Cabin and ergonomically positioned joystick controls are added features. Besides, orbitrol power steering system and the attachments like 6-in-1 multipurpose bucket, trench bucket, ditch cleaning bucket, taper ditching bucket, weed removal bucket, forklift, jib crane, ripper, rock breaker also make BL120H more special to the Construction Sector.

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

 

TCS recognized as leader in digital services by Everest Group

TCS was also recognized for its outstanding customer satisfaction and extensive global delivery capabilities
Tata Consultancy Services (TCS) has been recognized as a 'Leader' in digital services by Everest Group, in its report, Digital Services-PEAK Matrix Assessment and Profile Compendium 2015. TCS is positioned as a Leader based on its mature and industry-leading Digital practice created through investments in intellectual property, end-to-end capabilities and a mix of product license and services. TCS was also recognized for its outstanding customer satisfaction and extensive global delivery capabilities.

Everest Group evaluated 18 service providers in the digital services delivery sector against its Performance, Experience, Ability, and Knowledge (PEAK) Matrix, a composite index of several distinct metrics related to a providers capabilities and industry track record. Everest Group also profiled the capabilities of these service providers through a comprehensive assessment of their service scope, scale of operations, domain expertise and innovation, delivery footprints, buyer satisfaction, and market success.

TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. The company offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.
source : ventura

 

Union Bank of India enters into partnership with Maharashtra for OTC tax collection

The facility of collecting taxes and dues will be provided at all of its 500 branches across the state
Union Bank of India has entered into partnership with Maharashtra for over-the-counter (OTC) collection of taxes and receipts. The facility of collecting taxes and dues will be provided at all of its 500 branches across the state.

The bank has integrated its core banking with the Maharashtra virtual treasury, GRAS (Government Receipt Accounting System), to facilitate OTC tax collection, which will provide one more mode of payment for convenience of tax payers and the state.

The bank reported a rise of 77.24% in its net profit Rs 658.16 crore for the quarter ended September 30, 2015 as compared to net profit of Rs 371.34 crore for the same quarter in the previous year. Total income increased by 3.95% at Rs 9100.90 crore for quarter under review as compared to Rs 8754.69 crore for the quarter ended September 30, 2014.
source : ventura