LATEST BUSINESS NEWS

Today (27.01.17) foll cos. will declare Q3 results :

Tanla, Shanti Gears, KKCL, India Nippon Electricals, BEL, Gujarat Alkalies, Zuari Agro, Sparc, Tata Coffee, Sundaram Finance, ITC, Kirloskar Bros, Just Dial, Indoco Remedies, India Cements, Eveready Ind, Binani Ind, Colgate, Avanti Feeds
Source : bseindia and ventura

 

SGX NIFTY

8,668.00 ( -26.50 ) ( -0.31%)

SOURCE : https://sgxnifty.org/

 

Karnataka Bank inks MoU with Tirth Agro Technology for agri-mechanisation

The MoU aims to work together to promote agriculture mechanization by utilizing the immense experience the bank has in agricultural finance through its vast network of branches

Karnataka Bank has entered into a Memorandum of Understanding (MoU) with the leading agricultural equipment/implements manufacturer Tirth Agro Technology, Rajkot for financing to farmers for agri-mechanisation.

The MoU aims to work together to promote agriculture mechanization in India by utilizing the immense experience the bank has in agricultural finance through its vast network of branches across India and the expertise of the company in the field of manufacturing of high quality agriculture equipments and implements.

With over 9 decades of experience at the forefront of providing professional banking services and quality customer service, the bank has a national presence with a network of 740 branches spread across 21 states and 2 Union Territories.

Karnataka Bank operates as a private sector bank. It products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

Source : ventura

 

Tata Steel to acquire majority equity stake in CPDPL

The company has executed definitive agreements with CPDPL and their promoters for the proposed development of ‘Subarnarekha Port’

Tata Steel (TSL) has executed definitive agreements with Creative Port Development (CPDPL) and their promoters for the proposed development of ‘Subarnarekha Port’ at Chaumukh village of Balasore district in Odisha.

As per the agreements, TSL will acquire majority equity stake in CPDPL, and the port development is envisaged through a wholly-owned subsidiary, Subarnarekha Port (SPPL). The acquisition and development is subject to certain conditions precedent, detailed technical assessments and financial closure.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
Source : ventura

 

PVR plans to add over 100 more screens by next fiscal

Last year, PVR acquired 32 screens of DT Cinemas from realty major DLF for a total consideration of Rs 433 crore

PVR is scouting for more acquisition opportunities as it plans to add over 100 more screens by the end of next fiscal. Last year, PVR acquired 32 screens of DT Cinemas from realty major DLF for a total consideration of Rs 433 crore.

PVR is the largest and the most premium film and retail entertainment company in India. The company is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. PVR now operates the largest multiplex network with 569 screens at 123 properties in 48 cities pan India.
Source : ventura

 

Ashok Leyland reports 13% fall in Q2 net profit


Total income of the company increased by 7.98% at Rs 4747.11 crore for the quarter under review


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

The company has reported 13.02% fall in its net profit at Rs 185.88 crore for the quarter under review as compared to Rs 213.70 crore for the same quarter in the previous year. However, total income of the company increased by 7.98% at Rs 4747.11 crore for the quarter under review as compared Rs 4396.15 crore for the corresponding quarter previous year.

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

 

ITC Q3 PAT Rs.2650cr vs Rs.2504cr yoy, vs Rs.2500cr qoq

 

Gokaldas Exports to set-up four apparel manufacturing units in Andhra Pradesh

The units will be set-up over a period of next three years in Chittoor District involving an investment of approximately up to Rs 200 crore

Gokaldas Exports has entered into a Memorandum of Understanding (MoU) with Government of Andhra Pradesh for setting up of four apparel manufacturing units over a period of next three years in Chittoor District involving an investment of approximately up to Rs 200 crore which is likely to generate approximately 5,000 new jobs.

The said investment is however subject to such terms and conditions as requested and sought by the company including appropriate infrastructural support and relevant incentives and subsidies being made available to the company with the Government of Andhra Pradesh.

Gokaldas Exports is the largest exporter of garments in India. The company manufactures blazers and pants (formal and casuals), shorts, shirts, blouses, denim wear, swim wear, active and sportswear.
Source : ventura

 

GMR’s arm inks MoUs with firms interested in setting up manufacturing units in KSEZ

GMR Group is developing a world-class Industrial Zone - Kakinada SEZ, spread over 8,500 acres and an all-weather, multi-cargo, deep water port

GMR Infrastructure’s (GIL) subsidiary - Kakinada SEZ (KSEZ), has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ. GMR Group is developing a world-class Industrial Zone - Kakinada SEZ, spread over 8,500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 Million Tonnes.

Kakinada SEZ which is the largest industrial area with port connectivity, Indian Oil & Gas PSU majors are joining together to set up a cracker unit, with a proposed investment of Rs 40,000 crore in 2000 acres of GMR’s Kakinada SEZ. MoU has been signed for this investment in Kakinada SEZ, among GAIL, HPCL and Government of Andhra Pradesh, during the CII Partnership Summit, Visakhapatnam, AP.

Further, MoUs were signed by KSEZ with 5 companies which include Oil Country Tubular, Kamineni Steel & Power, United Seamless Tubular, Deepak Phenolics and DCM Shriram for setting up manufacturing facilities with a total investment of Rs 7,000 crore spread over 550 acres at Kakinada SEZ, Kakinada, AP. These MoUs would be followed up with technical and commercial discussions for lease of land in Kakinada SEZ to the above mentioned firms over the following months.
Source : ventura

 

Today (30.01.17) foll cos. will declare Q3 results :
Astramicrowave, Bajaj Finserv, Bajaj Finance, Dalmia Bharat Sugar, Dish TV, GE T&D, Godrej Consumer, Grasim, Emami, HDFC, Naukri, Kitex, Nav Bharat Ventures,Mahindra Lifespace, Monsanto, Motilal Oswal, Ruchira Paper, Saksoft, Sharda Cropchem, Sanghi Ind, Shriram City Union, Shree Cements, Pfizer, Pincon Spirits, PNB Gilts, Tech Mahindra, TIL, Walchandnagar Ind, Zydus Wellness, Vguard
source : nseindia and ventura

 

L&T reports 39% jump in Q3 consolidated net profit

Total income of the company increased by 1.43% to Rs 26543.81 crore for quarter under review

Larsen & Toubro (L&T) has reported results for third quarter ended December 31, 2016.

The company has reported 16.59% rise in its net profit at Rs 934.18 crore for the quarter under review as compared to Rs 801.27 crore for the same quarter in the previous year. Total income of the company increased marginally at Rs 16444.94 crore for the quarter under review as compared to Rs 16444.90 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 38.86% rise in its net profit after tax, non-controlling interest and share in profit of joint ventures / associates at Rs 972.47 crore for the quarter ended December 31, 2016, as compared to Rs 700.34 crore for the same quarter in the previous year. Total income of the company increased by 1.43% to Rs 26543.81 crore for quarter under review from Rs 26169.10 crore for the quarter ended December 31, 2015.
source : ventura

 

DCB Bank aims to raise Rs 400 crore in H2 FY18

The Bank is comfortably placed for its capital buffers to take care of growth at present, but will have to evaluate it later

In order to augment its capital, DCB Bank is aiming to raise around Rs 400 crore in the second half (H2) of the next financial year (FY18). The Bank is comfortably placed for its capital buffers to take care of growth at present, but will have to evaluate it later.

The Bank’s promoters Aga Khan Fund for Economic Development and Platinum Jubilee Investments will get its holding in the bank down to 15 per cent from the present 16.21 per cent during the next financial year.

DCB Bank is a scheduled commercial bank. The Bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. It has approximately 200 branches and approximately 410 automated teller machine (ATM) centers.
source : ventura

 

Reliance Defence inks contract with MOD for design, construction of fourteen FPVs

RDEL emerged winner through a competitive bidding process undertaken by MOD, Government of India with participation from almost all the Private Sector and Public Sector Shipyards

Reliance Infrastructure (RInfra) promoted Reliance Defence and Engineering (RDEL) has signed a Contract with Ministry of Defence (MOD), Government of India for design and construction of fourteen Fast Patrol Vessels (FPVs) for Indian Coast Guard, for an amount of Rs. 916 crore. FPV’s are medium range, high-speed vessels; it is primarily utilized for patrol within Exclusive Economic Zone (EEZ), costal patrol, anti-smuggling, antipiracy, search & rescue operations. It also supports front line warships in the hour of need.

RDEL emerged winner through a competitive bidding process undertaken by MOD, Government of India with participation from almost all the Private Sector and Public Sector Shipyards. This is the first time, a Private Sector Shipyard has been awarded a contract to design and build such class of ships for Indian Armed Forces. RDEL will be developing the design in-house.
source : ventura

 

Today (31.01.17) foll cos. will declare Q3 results :

Akzo Noble, Cadila Healthcare, BPL, Capital First, Asahi Songwon, Century Ply, Century Textiles, Bajaj Auto, Bajaj Holdings, Bharat Gears, Cupid, Cybertech Systems,
Dabur, FSL, Genus Power, GHCL, IFB Ind, ICICI, Indigo, IDFC, HCL Info, IOC, Navneet, NELCO, Narayana Hrudayala, KSCL, OIL, ONGC, Bank of Maharashtra, JaiCorp, Manali Petro, Mahindra Holidays,Mirza Int, JSW Steel, Mphasis, Kalyani Forge, Kansai Nerolac, KEC Int, Shopper Stop, Parrys Sugar, Subros, Syndicate Bank, Tinplate, TTK Prestige, UCO Bank, Shriram Transport Finance, Wabco India, Wonderla
source: nseindia and ventura

 

Dish TV India reports 61% fall in Q3 consolidated net profit

Total income of the company decreased by 1.24% to Rs 766.07 crore for quarter under review

Dish TV India has reported results for third quarter ended December 31, 2016.

The company has reported 52.33% fall in its net profit at Rs 47.86 crore for the quarter under review as compared to Rs 100.39 crore for the same quarter in the previous year. Total income of the company decreased by 20.46% at Rs 490.08 crore for the quarter under review as compared to Rs 616.17 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 61.05% fall in its net profit at Rs 26.68 crore for the quarter ended December 31, 2016, as compared to Rs 68.49 crore for the same quarter in the previous year. Total income of the company decreased by 1.24% to Rs 766.07 crore for quarter under review from Rs 775.68 crore for the quarter ended December 31, 2015.
source : ventura

 

Bajaj Finserv’s Q3 consolidated net surges 40%

Total income of the company increased by 34.77% to Rs 3293.57 crore for quarter under review

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

The company has reported 38.04% fall in its net profit at Rs 6.32 crore for the quarter under review as compared to Rs 10.20 crore for the same quarter in the previous year. Total income of the company decreased by 16.60% at Rs 25.38 crore for the quarter under review as compared to Rs 30.43 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 40.36% rise in its net profit after tax, minority interest and share of profit of associates at Rs 613.76 crore for the quarter ended December 31, 2016, as compared to Rs 437.29 crore for the same quarter in the previous year. Total income of the company increased by 34.77% to Rs 3293.57 crore for quarter under review from Rs 2443.90 crore for the quarter ended December 31, 2015.
source : ventura

 

Pfizer reports 4% rise in Q3 net profit

Total income of the company decreased by 2.58% at Rs 536.75 crore for the quarter under review

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

The company has reported 4.37% rise in its net profit at Rs 62.37 crore for the quarter under review as compared to Rs 59.76 crore for the same quarter in the previous year. However, total income of the company decreased by 2.58% at Rs 536.75 crore for the quarter under review as compared Rs 550.96 crore for the corresponding quarter previous year.

Pfizer has produced innovative breakthroughs in a wide range of research areas, including depression, erectile dysfunction, high cholesterol, HIV infection, hypertension, bacterial infections and systemic fungal infections.
source : ventura

 

GHCL Q3 PAT Rs.80.5cr vs Rs.66cr yoy, vs Rs.90cr qoq

 

IOC Q3 PAT Rs.3995cr vs Rs.3057cr yoy, vs Rs.3122cr qoq

 

FSL Q3 cons PAT Rs.70cr vs Rs.71cr qoq, vs Rs.67cr yoy