LATEST BUSINESS NEWS

Hindustan Unilever reports 7% rise in Q3 net profit

Total income of the company decreased by 1.52% at Rs 8400.38 crore for the quarter under review
Hindustan Unilever has reported results for third quarter ended December 31, 2016.

The company has reported 6.82% rise in its net profit at Rs 1037.93 crore for the quarter under review as compared to Rs 971.66 crore for the same quarter in the previous year. However, total income of the company decreased by 1.52% at Rs 8400.38 crore for the quarter under review as compared Rs 8529.75 crore for the corresponding quarter previous year.

Hindustan Unilever is India’s largest Fast Moving Consumer Goods Company with a heritage of over 80 years in India and touches the lives of nine out of ten Indian households.
source: ventura

 

Yday FIIs-289cr in Cash,+327cr in FNO. DIIs+520cr in Cash.
source : ventura

 

Nse STAR 1.01 lakhs @ 1114.85 value 11.30 crs
source : ventura

 

Chennai Petroleum reports stellar numbers in Q3

The company has reported 16-fold jump its net profit at Rs 291.09 crore for the quarter under review
Chennai Petroleum Corporation has reported results for third quarter ended December 31, 2016.

The company has reported 16-fold jump its net profit at Rs 291.09 crore for the quarter under review as compared to Rs 18.33 crore for the same quarter in the previous year. Total income from operations of the company increased by 56.54% at Rs 10623.37 crore for the quarter under review as compared to Rs 6786.51 crore for the corresponding quarter previous year.

Chennai Petroleum Corporation main products are LPG, Motor Spirit, Superior Kerosene, Aviation Turbine Fuel, High Speed Diesel, Naphtha, Bitumen, Lube Base Stocks, Paraffin Wax, Fuel Oil, Hexane and Petrochemical feed stocks.
source : ventura

 

Today (25.01.17) foll cos. will declare Q3 results :

Cholamandalam Inv, Coromandel Int, Blue Star, Alembic Pharma, Arvind, Ashok Leyland, Asian Granito, Astec Life, Everest Ind, Exide Ind, IIFL Holdings, Indian Bank, IBRealest, IDFC Bank, IRB Infra, Oberoi Realty, Maruti Suzuki, MPS, Karur Vysya Bank, Murudeshwar Ceramics, Kirloskar Oil, Kotak Mahindra Bank, KPR Mills, Saregama, Sagar Cements, Rane Engine, Raymond, Tata Elxsi, TRF, UPL, Supreme Ind, VRL Logistics, Wipro
source : ventura & bseindia

 

Bharat Financial Inclusion reports 80% jump in Q3 net profit

Total income of the company increased by 32.45% at Rs 454.87 crore for the quarter under review

Bharat Financial Inclusion has reported results for third quarter ended December 31, 2016.

The company has reported 79.65% rise in its net profit at Rs 142.82 crore for the quarter under review as compared to Rs 79.50 crore for the same quarter in the previous year. Total income of the company increased by 32.45% at Rs 454.87 crore for the quarter under review as compared to Rs 343.43 crore for the corresponding quarter previous year.

Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
source : ventura

 

Biocon reports 65% surge in Q3 consolidated net profit

Total income of the company increased by 31.75% to Rs 1091.80 crore for quarter under review

Biocon has reported results for third quarter ended December 31, 2016.

The company has reported 63.17% rise in its net profit at Rs 104.10 crore for the quarter under review as compared to Rs 63.80 crore for the same quarter in the previous year. Total income of the company increased by 23.38% at Rs 688.20 crore for the quarter under review as compared to Rs 557.80 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 64.55% rise in its net profit after taxes, minority interest and share of profit from associates at Rs 171.30 crore for the quarter ended December 31, 2016, as compared to Rs 104.10 crore for the same quarter in the previous year. Total income of the company increased by 31.75% to Rs 1091.80 crore for quarter under review from Rs 828.70 crore for the quarter ended December 31, 2015.
source : ventura

 

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source : ventura

 

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source : ventura

 

Kotak Mahindra International sells 2.11% stake in South Indian Bank

The shares were offloaded at an average price of Rs 21.2, valuing the transaction at Rs 60.42 crore

Kotak Mahindra International has sold 2.11% stake in private sector lender South Indian Bank for an estimated over Rs 60 crore through an open market transaction. The shares were purchased by Lavender Investments.

Kotak Mahindra International sold a total of 2.85 crore shares, amounting to 2.11% stake of the bank. The shares were offloaded at an average price of Rs 21.2, valuing the transaction at Rs 60.42 crore.

As of December quarter, Kotak Mahindra International held 2.11% holding in South Indian Bank, while Lavender Investments owned 2.82% stake in the private sector lender.
source : ventura

 

HDFC plans to raise Rs 2,000 crore via NCDs

The company will use the issue proceeds to finance/re-finance its business

Housing Development Finance Corporation (HDFC) is planning to raise Rs 2,000 crore by issuing secured redeemable non-convertible debentures (NCDs) of two-year tenor on private placement basis at a coupon of 7.49 percent.

The company will use the issue proceeds to finance/re-finance its business. The minimum subscription is one debenture of Rs 1 crore each and in multiples of one debenture thereafter. The issue will open and close for subscription on January 25.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
source : ventura

 

Indian Overseas Bank reports net loss of Rs 554.44 crore in Q3

Total income of the Bank decreased 13.13% at Rs 5599.50 crore for Q3FY17

Indian Overseas Bank has reported results for third quarter ended December 31, 2016.

The Bank has reported a net loss of Rs 554.44 crore for the quarter under review as compared to a net loss of Rs 1425.06 crore for the same quarter in the previous year. Total income of the Bank decreased 13.13% at Rs 5599.50 crore for Q3FY17 as compared to Rs 6445.78 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 22.42%, as compared to 12.64% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 14.32% in Q3FY17.
source : ventura

 

BASF enters India crop protection market for rice

The company would be offering range of new solutions to boost yields in India by managing rice diseases, weeds and pests

BASF SE, Germany through its subsidiary - BASF India (BASF), has entered into crop protection market for ‘Rice’ in India and would be offering range of new solutions to boost yields in India by managing rice diseases, weeds and pests. With this launch of two products ‘Seltima’ and ‘Adexar’, BASF provides comprehensive solutions that effectively manage major rice diseases, weeds, and pests, while meeting consumers' expectations for healthy, high quality food.

BASF India is a chemical manufacturing company. It operates in the business segments of agricultural solutions, performance products, plastics businesses and chemicals. The agricultural solutions include insecticides, herbicides, fungicides and specialties. BASF India operates as a subsidiary of BASF SE.
source : ventura

 

GIPCL commissions 16.8 MW WTG in Porbandar

GEDA has issued a commissioning certificate for the same

Gujarat Industries Power Company (GIPCL) has commissioned a 16.8 MW (8 WTGs x 2.1 MW) Wind Turbine Generators (WTGs) at the Kuchhdi Wind Farm in Porbandar district, Gujarat. Gujarat Energy Development Agency (GEDA) has issued a commissioning certificate for the same.

GIPCL is engaged in business of Electrical Power Generation. The company has a vision to transform itself into a national level power sector enterprise.
source : ventura

 

USFDA conducts inspection at Natco Pharma’s Kothur Formulation Facility

The facility received six observations, all of which are correctable and procedural, and which the company believes are minor in nature

United States Food & Drug Administration (USFDA) has conducted an inspection at Natco Pharma’s formulations facility in Kothur, near Hyderabad, between January 16-24, 2017. At the end of the inspection, the facility received six observations, all of which are correctable and procedural, and which the company believes are minor in nature. The observations are related to complaint and incident investigations, stability backlog and procedural SOP's.

Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
source : ventura

 

Tata Power’s TPDDL implements microgrid project in Bihar

TPDDL has been supported by partners such as Tata Trusts, MIT, Prayas Juvenile Aid Centre and GE

Tata Power Delhi Distribution (TPDDL), a joint venture (JV) of Tata Power and the Government of Delhi, has implemented a microgrid project in Tayabpur, a village in the Vaishali district of Bihar having an estimated 190 hutments with a population of around 1,000 to accomplish the vision of providing access of electricity to all.

For the project, TPDDL has been supported by partners such as Tata Trusts, MIT, Prayas Juvenile Aid Centre and GE to setup a self-managed solar microgrid which will help in enhancing quality of life, engage natives and introduce financial advancement in such areas.

The project is in line with the Government of India’s electrification programme which aims to provide ‘electricity to all’ by establishing a standalone off-grid village electrification system where grid supply has not reached or is not feasible.

Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
source : ventura

 

Bharti Airtel gets nod to raise up to Rs 10,000 crore through NCDs

The board of directors at its meeting held on January 24, 2017 has approved the issuance of NCDs on a private placement basis

Bharti Airtel has received an approval to raise up to Rs 10,000 crore through Non-Convertible Debentures (NCDs). The board of directors at its meeting held on January 24, 2017 has approved the issuance of NCDs on a private placement basis. The outstanding under these NCDs shall at all times will be within the overall borrowing limits of the company and be subject to a cap of Rs 10,000 crore.

Bharti Airtel is a leading integrated telecommunications company with operations in 18 countries across Asia and Africa. The company ranks amongst the top 3 mobile service providers globally in terms of subscribers.
source : ventura

 

Srei Infrastructure Finance to raise Rs 200 crore via NCDs

The issue opens on January 30, 2017 and closes on February 23, 2017

Srei Infrastructure Finance (Srei), one of India's largest private sector holistic infrastructure institutions, is proposing a public issue of secured redeemable non-convertible debentures (NCDs) of face value Rs 1000 each amounting up to Rs 200 crore (base issue size) with an option to retain oversubscription up to the residual shelf limit of Rs 706.63 crore. The issue opens on January 30, 2017 and closes on February 23, 2017.

The NCDs have a credit rating of ‘BWR AA+’ (Outlook: Stable) by BRICKWORK. The highest coupon is 9.50% p.a. for investors of all categories for tenor of five years. For all categories of investors for tenor of three years, the coupon is 9.25% p.a. and for tenor of 400 days, the coupon is 8.50% p.a. An additional coupon of 0.25% will be offered to individual category investors who are existing shareholders of Srei, NCDs/bondholders of both Srei and Srei Equipment Finance (SEFL) and senior citizens. Additional coupon is not applicable for series of 400 days tenor. The NCDs are proposed to be listed on the NSE and BSE.
source : ventura

 

Nse HEROMOTOCO 1 lakh @ 3150.25 value 31.56 crs
source : ventura

 

State Bank of Mysore reports net loss of Rs 20 crore in Q3

Total income of the Bank increased 1.99% at Rs 1978.85 crore for Q3FY17

State Bank of Mysore has reported results for third quarter ended December 31, 2016.

The Bank has reported a net loss of Rs 20.25 crore for the quarter under review as compared to a net profit of Rs 26.94 crore for the same quarter in the previous year. However, total income of the Bank increased 1.99% at Rs 1978.85 crore for Q3FY17 as compared to Rs 1940.22 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 14.46%, as compared to 5.48% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 9.22% in Q3FY17.
source : ventura