LATEST BUSINESS NEWS

USFDA removes import alert imposed on Divis Laboratories’ Unit-II at Visakhapatnam

The regulator had earlier issued the Import Alert on the company’s Unit-II at Visakhapatnam
The US Food and Drug Administration (USFDA) h as removed the Import Alert 66-40 on Divis Laboratories’ Unit-II at Visakhapatnam. The regulator had earlier imposed the Import Alert on the company’s Unit-II at Visakhapatnam.

Divis Laboratories focussed on developing new processes for the production of Active Pharma Ingredients (APIs) & Intermediates. The company in a matter of short time expanded its breadth of operations to provide complete turnkey solutions to the domestic Indian pharmaceutical industry.
source : ventura

 

Bharti Infratel’s promoter sells 4.49% stake in the company

The proceeds from sale will be primarily used to pare debt issued by Bharti Airtel

Bharti Infratel’s promoter - Bharti Airtel through its wholly owned subsidiary, Nettle Infrastructure Investments, has sold 83 million equity shares aggregating to 4.49% of total paid up share capital of the company through a secondary share sale in the stock market. The proceeds from sale will be primarily used to pare debt issued by Bharti Airtel. Consequent to the above sale, Bharti Airtel and Nettle together have an equity holding of 53.51% in the share capital of the company.

Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators.
source : ventura

 

Camlin Fine Sciences enters into preferred supply agreement with LMAES

The agreement is to supply of specialty chemicals for a term which shall be valid through December 31, 2025
Camlin Fine Sciences has entered into a preferred supply agreement with Lockheed Martin Advanced Energy Storage, United States of America (LMAES), a company registered under the laws of United States of America, in relation to supply of specialty chemicals for a term which shall be valid through December 31, 2025.

Camlin Fine Sciences is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).
source : ventura

 

Indiabulls Housing sells its one third stake in OakNorth Bank for Rs 770 crore

The balance investment of IHFL in bank is worth Rs 1,510 crore at current valuation
Indiabulls Housing Finance (IHFL) has sold one third of its stake in OakNorth Bank, comprising 10% of the bank to Government of Singapore owned investment arm GIC for Rs 770 crore. IHFL had invested Rs663 crore in November 15 for a 40% stake in the bank. With this partial divestment IHFL has recovered its entire investment in bank made 2 years ago. The balance investment of IHFL in bank is worth Rs 1,510 crore at current valuation.

Post this sale, IHFL continues to be the single largest shareholder in the bank with two nominees on its board. Prior to this transaction, the bank had secured an investment of $203 million from three leading international investors - The Clermont Group, Toscafund & Coltrane for a 16% stake, valuing the bank upward of $1.2 billion.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).
source : ventura

 

Ruchi Soya Industries reports net loss of Rs 2882.71 crore in Q2FY18

Total income of the company decreased by 39.87% at Rs 3092.24 crore for Q2FY18
Ruchi Soya Industries has reported results for second quarter ended September 30, 2017.

The company has reported a net loss of Rs 2882.71 crore for the quarter under review as compared to a net profit of Rs 26.75 crore for the same quarter in the previous year. Total income of the company decreased by 39.87% at Rs 3092.24 crore for Q2FY18 as compared Rs 5142.87 crore for the corresponding quarter previous year.

Ruchi Soya Industries is a leading manufacturer and India’s largest marketer of healthier edible oils, soya food, premium table spread, vanaspati and bakery fats. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.
source : ventura

 

RMSC Sir, I am having a few shares of VIP Clothing (few bough at Rs. 25/= and few bought at 76.5). Current price is 61.55. Should I hold or sell? A dealer of Shares Right Issue has offered me Spot Payment against Rights Issue of VIP Clothing. Should I accept it? If yes, what care should I take? How much compensation should I ask for? Please guide.