LATEST BUSINESS NEWS

Colgate Palmolive reports 16% rise in Q2 net profit

Total income of the company increased by 9.82% at Rs 1214.46 crore for the quarter under review

Colgate Palmolive (India) has reported results for second quarter ended September 30, 2016.

The company has reported 15.59% rise in its net profit of Rs 181.31 crore for the quarter under review as compared to Rs 156.85 crore for the same quarter in the previous year. Total income of the company increased by 9.82% at Rs 1214.46 crore for the quarter under review as compared to Rs 1105.89 crore for the corresponding quarter previous year.

Colgate Palmolive (India) has trusted brands for dental care, personal care, home care and professional oral care. The company is the fastest growing and one of the oldest companies catering to the personal care products.
source:ventura

 

Vedanta reports 17% rise in Q2 consolidated net profit

Total income of the company decreased by 4.60% to Rs 18029.76 crore for the quarter under review

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

The company has reported net loss of Rs 274.65 crore for the quarter under review as against net profit of Rs 18.16 crore for the same quarter in the previous year. Total income of the company decreased by 10.12% at Rs 7306.17 crore for the quarter under review as compared to Rs 8128.93 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 17.14% rise in its net profit after taxes, minority interest & share in jointly controlled entities and associates at Rs 1252.13 crore for the quarter ended September 30, 2016 as compared to Rs 1068.95 crore for the same quarter in the previous year. However, total income of the company decreased by 4.60% to Rs 18029.76 crore for the quarter under review from Rs 18898.27 crore for the same quarter in the previous year.
source:ventura

 

NTPC reports 18% drop in Q2 net profit

Total income of the company increased by 7.52% at Rs 19588.56 crore for the quarter under review

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

The company has reported 17.87% fall in its net profit of Rs 2495.97 crore for the quarter under review as compared to Rs 3039.23 crore for the same quarter in the previous year. However, total income of the company increased by 7.52% at Rs 19588.56 crore for the quarter under review as compared to Rs 18218.16 crore for the corresponding quarter previous year.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.
source:ventura

 

Eicher Motors reports 45% rise in Q2 consolidated net profit

Total Income of the company increased 35.59% to Rs 2047.47 crore for the quarter under review

Eicher Motors has reported results for second quarter ended September 30, 2016.

The company has reported 54.19% rise in its net profit of Rs 396.16 crore for the quarter under review as compared to Rs 256.93 crore for the same quarter in the previous year. Total income of the company increased 36.10% at Rs 2055.11 crore for the quarter under review as compared to Rs 1510.05 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 45.19% rise in its net profit after tax, minority interest and share of profit of associates of Rs 413.16 crore for the quarter ended September 30, 2016 as compared to Rs 284.56 crore for the same quarter in the previous year. Total Income of the company increased 35.59% to Rs 2047.47 crore for the quarter under review from Rs 1510.05 crore for the quarter ended September 30, 2015.
source:ventura

 

Today (01.11.16) foll cos. will declare Q2 results :
Century Enka, Century PlyBoard, GNA Axles, Majesco, VST Ind,Mic
source: ventura

 

Strides Shasun receives USFDA approval For Abacavir Tablets

Abacavir Tablets is indicated for the treatment of HIV-1 infection in combination with other antiretroviral agents

Strides Shasun has received approval from the United States Food & Drug Administration (USFDA) for Abacavir Tablets USP, 300 mg. The US market for Abacavir is approximately $30 million according to IMS data. Abacavir Tablets is indicated for the treatment of HIV-1 infection in combination with other antiretroviral agents.

The product will be manufactured at the company’s USFDA approved facility at Bangalore and marketed by Strides in the US Market. The product will be launched immediately.

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

 

Raymond sets aside capex of Rs 280 crore for second half of 2016

The company will use major chunk of capex for constructing its plants at Amravati in Maharashtra and Ethiopia

Textile major Raymond has set aside a capex of Rs 280 crore for the second-half of the year. The company will use major chunk of capex for constructing its plants at Amravati in Maharashtra (Rs 150 crore) and Ethiopia (Rs 50 crore) and the rest for its retail stores and maintenance.

The company has spent a capex of Rs 69 crore for the first half of 2016. This year the company added about 40 stores and about 50 stores were renovated. Currently, Raymond has a total of 1,050 stores across all formats which include 47 stores in West Asia and the SAARC region covering 1.93 million square feet of retail space.
source: ventura

 

Eicher Motors’ motorcycle division reports 33% jump in October sales

The number of motorcycle units exported, increased by 95% to 748 units

Eicher Motors’ motorcycle division has reported a 33% jump in total sales in October 2016 at 59,127 units, as against 44,522 units in the same month last year. During October 2016, the number of motorcycle units exported, increased by 95% to 748 units from 384 units in October 2015.

The company’s sales of vehicles with engine capacity up to 350 cc increased by 35% at 55,188 units in October 2016 against 40,800 units in the same period year ago, while the sales of its vehicles with engine capacity exceeding 350 cc increased by 6% at 3,939 units as against 3,722 units in October last year.

Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.
source: ventura

 

ONGC’s arm concludes acquisition of additional 11% stake in Vankor oilfield

OVL signed a deal with Rosneft Oil Company to acquire additional 11% stake in the East Siberian field for $930 million on October 28

Oil and Natural Gas Corporation’s (ONGC) overseas arm - ONGC Videsh (OVL), has completed the acquisition of additional 11% interest in Russia’s Vankor oilfield, taking its total stake to 26%. After the stake sales, Rosneft holds 50.1% stake in JSC Vankorneft, the company that operates the Vankor oilfield.

OVL signed a deal with Rosneft Oil Company to acquire additional 11% stake in the East Siberian field for $930 million on October 28. OVL, which had previously bought 15% stake in Vankor from Russian national oil firm Rosneft for $1.268 billion, will get an 7.3 million tons of oil equivalent from its 26% stake. OVL will tie-up long-term financing in the next six to nine months to replace the bridge loan.

Besides OVL’s 26%, a consortium of comprising Oil India (OIL), Indian Oil Corporation (IOC) and Bharat PetroResources (BPRL) has acquired 23.9% stake in the field.
source: ventura

 

BGR Energy Systems bags BoP contract worth Rs 2600 crore

The company has secured this contract in an International competitive bidding which witnessed stiff competition

BGR Energy Systems has bagged Balance of Plant (BoP) contract worth Rs 2600 crore from TANGEDCO for 1 x 800 MW North Chennai Thermal Power Project - Stage III. The company has secured this contract in an International competitive bidding which witnessed stiff competition. The contract completion period is 36 months from the date of award.

The contract is for Design, Engineering, Manufacturing, Fabrication, Assembly, Inspection, Testing, Transportation, Erection, Testing and commissioning of the Balance of Plant Mechanical, Electrical and Control & Instrumentation works including associated civil works for establishment of Coal based 1x 800 MW North Chennai Supercritical Thermal Power Project Stage-III in the premises of existing NCTPS at Ennore & Puzhudhivakkam Village, Thiruvallur District, Tamil Nadu.

The salient features of this expansion project include a large coal handling system with 2 Nos. Shore Unloaders for unloading of coal from the 'shios. It also features the state-of-the-art 765 kV Gas Insulated Switchgear based substation. The contract provides for foreign exchange and statutory levies variations.

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

 

ECL Finance raises Rs 502 crore through masala bonds

This was the first international debt raising by ECL Finance and has received tremendous response from global investors in the international market

ECL Finance, a subsidiary of Edelweiss Financial Services has successfully issued its first international Rupee denominated USD settled Senior Secured Notes (commonly known as Masala Bonds) on October 28, 2016. The Masala Bonds aggregating to Rs 502 crore ($75 million equivalent in rupee) were issued with a coupon of 9.05% paid semi‐annually due 2019. Sun Global Investments, London and Emirates NBD Bank, Dubai, were the Global Coordinators and Joint Lead Managers for the issue. This is a rupee based transaction and there is no foreign exchange exposure for the Company. The issue proceeds would be used by the company for repayment of existing debts, supporting growth and other general corporate purposes as permitted under the applicable Reserve Bank of India (RBI) guidelines. The bonds are proposed to be dual listed and traded on the Singapore Stock Exchange and the Stock Exchange of Mauritius.

The Company’s long term domestic debt rating is AA (CARE, ICRA) / AA+ (Brick Works). The Masala Bonds issue further diversifies the funding mix and increases funding sources for the Company in addition to the traditional funding sources i.e. financing from Indian banks and domestic bond issuances.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.
source: ventura

 

Ashok Leyland reports 28% rise in October sales

The company has experienced a jump of 33% in its M&HCV products segment to 9574 units in October 2016, as compared to 7176 units in October 2015

Ashok Leyland, the commercial vehicle manufacturer, has reported an increase of 28% in October 2016 sales to 12533 units, as against 9803 units sold in the same period of last year. The company has experienced a jump of 33% in its medium and heavy commercial vehicle (M&HCV) products segment to 9574 units in October 2016, as compared to 7176 units in October 2015. Light commercial vehicle (LCV) of the company registered sales of 2959 units in October 2016 as against 2627 units in October 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

 

Maruti Suzuki reports marginal fall in October sales

The company’s domestic sales have increased by 2.2% in October 2016 at 123,764 units

Maruti Suzuki India, country’s largest car maker, has registered a fall of 0.3% in its total car sales (Domestic + Export) for the month of October 2016 at 133,793 units, as against 134,209 units in October 2015. The company’s exports have decreased by 23.7% to 10,029 units as against 13,146 units in October 2015. However, the company’s domestic sales have increased by 2.2% in October 2016 at 123,764 units, as against 121,063 units in corresponding month last year.

Of total, the company has sold 92,886 units of its passenger cars during last month, down by 5.2% as against 97,951 units in October 2015. The sales of vans have declined by 6.5% to 12,790 units as against 13,677 units in October 2015. However, the company’s sales of its utility vehicles soared 90.9% to 18,008 units from 9,435 units in October 2015.
source: ventura

 

USFDA completes inspection at Caplin Point's Sterile Injectable site

The observations made were not related to data integrity

The United State Food and Drug Administration (USFDA) has completed inspection at Caplin Point Laboratories’ Sterile Injectable site (CP-IV) at Gummidipoondi between October 21 - 28, 2016. There were only two observations.

The company believes these to be of minor in nature and the corrective and preventive actions for these observations will be presented to the USFDA within the next 15 days. The observations made were not related to data integrity.

Caplin Point Laboratories is engaged mainly in manufacturing a wide range of Ointments, Creams and other External application preparations in addition to the regular segments of pharmaceutical formulations.
source: ventura

 

Jet Airways enters into code share agreements with Delta Airlines, Virgin Atlantic

This will help to expand connectivity to 24 new western cities via London Heathrow

Jet Airways has entered into a code share agreements with American carrier Delta Airlines and UK-based Virgin Atlantic. This step will help to expand connectivity to 24 new western cities via London Heathrow.

Effective from November 2, Jet customers flying to North America will be able to connect through London Heathrow onto 9 US destinations operated by Delta. The new destinations in the US are Atlanta, Boston, Detroit, Minneapolis, New York, Philadelphia, Portland, Salt Lake City and Seattle.

In turn, Delta and Virgin Atlantic customers flying from North America to India will be able to connect with Delta code share onto Jet to Mumbai and New Delhi through the Heathrow and onward to 20 destinations within India.

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

 

HIND MEDIA VENTURES Q2 PAT Rs.55cr vs Rs.45cr yoy

 

RAMA SIR,
Awesome business reports launch by you. Through this reports further study for the stocks can be made easily. And decide to buy or not. Same thing made in Kecl. I buy it at 42 nd still hold is at 70. Thanks sir

 

SML Isuzu reports 23% jump in October sales

The company has sold 963 vehicles during October 2016 against 784 vehicles sold in October 2015

SML Isuzu has reported 22.8% rise in October sales. The company has sold 963 vehicles during October 2016 against 784 vehicles sold in October 2015. The cumulative sales for April- September 2016 stood at 8,320 vehicles, a rise of 21.4% as compared to 6,852 vehicles sold in April- September 2015.

SML Isuzu manufactures a range of vehicles such as trucks, buses and ambulances. The company has launched products like 4WD, Samrat, Sartaj, Dual Cab, Supreme-8 tonner, Truck- Super 12, Super ALFD and many more.
source: ventura

 

Ujaas Energy bags order from Airport Authority of India

The order is for design, manufacture, supply, erection, testing and commissioning of Rooftop Grid connected solar PV system of 158 Kwp

Ujaas Energy has bagged order for design, manufacture, supply, erection, testing and commissioning of Rooftop Grid connected solar PV system of 158 Kwp from Airport Authority of India VSI Airport, Port Blair, Andaman & Nicobar.

Ujaas Energy is engaged in manufacturing of transformers. Its products include distribution transformers, power transformers, furnace transformers and special purpose transformers.
source: ventura

 

Today (03.11.16) foll cos. will declare Q2 results :
Sundaram Clayton, Monsanto, ICRA, Whirlpool, Wheels India, Sundaram Clayton, Tube Investments, TTK Prestige, TD PowerSystems, Take Solutions, Shoppers Stop,Mphasis, Dr. Lal PathLab, Magma Fincorp, Intellect Design, Esab India, Grindwell Norton, EIH, FACT, Ambuja Cements, Berger Paints, Cosmo Films, Chemfab Alkalies