LATEST BUSINESS NEWS

Tata Chemicals to invest Rs 565 crore to set up units in Andhra Pradesh, Gujarat

Out of total investment, the board has approved an investment of Rs 295 crore for setting up of a plant to manufacture precipitated highly dispersible silica in Gujarat

Tata Chemicals has received its board's approval to invest Rs 565 crore to set up two facilities in Andhra Pradesh and Gujarat. Out of total investment, the Board approved an investment of Rs 270 crore for setting up of a state-of-the-art, biotechnology unit in Nellore district, Andhra Pradesh for manufacturing of soluble dietary fibres with cutting-edge health benefits. The company had signed a MoU on January 27 with Andhra Pradesh government in this regard.

Furthermore, the board has also approved an investment of Rs 295 crore for setting up of a plant to manufacture precipitated highly dispersible silica in Gujarat. This speciality chemical represents downstream value addition to the company’s soda ash business. The technology for manufacturing highly dispersible silica has been developed in-house at its innovation centre in Pune and seven patents have already been filed. Precipitated silica is a versatile product with applications in many industries including rubber, coatings, pesticides and oral care.
source : ventura

 

Edelweiss Financial Services reports 47% rise in Q3 consolidated net profit

Total income of the company increased by 20.04% at Rs 1612.47 crore for the quarter under review

Edelweiss Financial Services has reported results for third quarter ended December 31, 2016.

The company has reported 27.47% rise in its net profit at Rs 67.37 crore for the quarter under review as compared to Rs 52.85 crore for the same quarter in the previous year. Total income of the company increased by 26.53% at Rs 136.30 crore for the quarter under review as compared Rs 107.72 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 46.87% rise in its net profit after tax, minority interest and share of profit of associates at Rs 155.18 crore for the quarter ended December 31, 2016, as compared to Rs 105.66 crore for the same quarter in the previous year. Total income of the company increased by 20.04% at Rs 1612.47 crore for the quarter under review as compared Rs 1343.26 crore for the corresponding quarter previous year.
source : ventura

 

Today (10.02.17) foll cos. will declare Q3 results :

Alkem Lab, Bosch, Dredging Corp, Anant Raj, Andhra Cements, Camlin Fine, CESC, Chambal Fert, Clariant Chemicals, Corporation Bank, Balakrishna Ind, Bank of Baroda,BBTC, BEML, Berger Paints, Crompton Greaves, Bhushan Steel, Deccan Cements, Deepak Fert, Dena Bank, Dhampur Sugars, ADF Foods, Eros Media, GAIL, Hinduja Ventures, Honda Siel, IPCA, Hotel Leela, Hercules,NDTV, Kothari Products, M&M, Jagran Prakashan, Kwality, JB Chemicals, JBF Ind, Max Financial, JPAssociate, Monte Carlo, Pokarna, Praj Ind, Punjab Chemicals, RSWM, Rupa & Co., Sakthi Sugars, RCF, SBI, OMDC,Reliance Capital, SRF, Sudarshan Chemicals, Sun TV, Suzlon, Swelect Energy, Symphony, Tata Power, Tide Water, TNPL, SML Isuzu, Sona Koyo, TVS Electronics, Vindhya Telelinks, Welspun Corp
source: nseindia, ventura and besindia

 

BPCL reports 47% rise in Q3 net profit

Total income of the company increased by 20.73% at Rs 64646.70 crore for the quarter under review

Bharat Petroleum Corporation (BPCL) has reported results for third quarter ended December 31, 2016.

The company has reported 47.04% rise in its net profit at Rs 2271.94 crore for the quarter under review as compared to Rs 1545.15 crore for the same quarter in the previous year. Total income of the company increased by 20.73% at Rs 64646.70 crore for the quarter under review as compared Rs 53545.79 crore for the corresponding quarter previous year.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
source : ventura

 

SML ISUZU Q3 PAT Rs.3cr vs loss of Rs.1cr yoy, vs PAT of Rs.9.69cr qoq

 

MAX VENTURES Q3 PAT Rs.80cr vs Rs.127cr yoy, vs loss of Rs.13cr qoq

 

DEEPAK FERT Q3 PAT Rs.47cr vs Rs.23cr yoy, vs Rs.27cr qoq

 

Today (13.02.17) foll cos. will declare Q3 results :

Albert David, Allahabad Bank, Allcargo Logistics, Bajaj Hindustan, Balaji Tele, Balmer Lawrie, Bodal Chemicals, Concor, BEML, BGR Energy, Britannia Ind,DCM Ltd, DCM Shriram Ltd., Dishman Pharma, Axiscades, AIA Eng, ENIL, Garware Wall, GSK Consumer, Fiem Ind, Dynamatic Tech, FLFL, IG Petro, HOV, Hindalco, Hind Petro, HBL Power, Muthoot Finance, Nahar Spng, National Aluminium, NBCC, Jindal Poly, KNR Construction, Kokuyu Camlin, Man Ind, Kothari Petro, Max India, MMTC, NMDC, Motherson Sumi, Petronet LNG, PFC, PTC India, Sandesh, REI Agro,Reliance Infra, Repco Home, Polyplex, Prabhat Dairy, Prestige Estates, PEL, SJVN, SSWL, Tata Investment, Voltamp

source: ventura & nseindia

 

Punj Lloyd narrows Q3 net loss to Rs 231.81 crore

Total income of the company decreased marginally by 0.31% at Rs 1011.10 crore for the quarter under review

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

The company has reported a net loss of Rs 231.81 crore for the quarter under review as compared to a net loss of Rs 309.31 crore for the same quarter in the previous year. However, total income of the company decreased marginally by 0.31% at Rs 1011.10 crore for the quarter under review as compared Rs 1014.28 crore for the corresponding quarter previous year.

Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.
source: ventura

 

Videocon Industries reports net loss of Rs 509.78 crore in Q4

Total income of the company decreased by 37.52% at Rs 2097.79 crore for the quarter under review

Videocon Industries has reported results for fourth quarter ended December 31, 2016.

The company has reported a net loss of Rs 509.78 crore for the quarter under review as compared to a net loss of Rs 84.42 crore for the same quarter in the previous year. Total income of the company decreased by 37.52% at Rs 2097.79 crore for the quarter under review as compared Rs 3357.50 crore for the corresponding quarter previous year.

Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.
source: ventura

 

Idea Cellular reports consolidated net loss of Rs 383.88 crore in Q3

Total income of the company decreased by 3.61% at Rs 8706.37 crore for the quarter under review

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

The company has reported a net loss of Rs 492.28 crore for the quarter under review as compared to a net profit of Rs 636.03 crore for the same quarter in the previous year. Total income of the company decreased by 4.25% at Rs 8608.15 crore for the quarter under review as compared Rs 8990.64 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported net loss after taxes of Rs 383.88 crore for the quarter ended December 31, 2016, as compared to a net profit of Rs 659.36 crore for the same quarter in the previous year. Total income of the company decreased by 3.61% at Rs 8706.37 crore for the quarter under review as compared Rs 9032.43 crore for the corresponding quarter previous year.
source: ventura

 

Coal India reports 20% fall in Q3 consolidated net profit

Total income of the company increased by 2.88% at Rs 21531.28 crore for the quarter under review

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

The company has reported a net loss of Rs 39.03 crore for the quarter under review as compared to a net profit of Rs 671.53 crore for the same quarter in the previous year. Total income of the company decreased by 70.78% at Rs 257.17 crore for the quarter under review as compared Rs 880.06 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 20.26% fall in its net profit after taxes, minority interest and share of profit of jointly controlled entities and associates at Rs 2884.47 crore for the quarter ended December 31, 2016, as compared to Rs 3617.18 crore for the same quarter in the previous year. However, total income of the company increased by 2.88% at Rs 21531.28 crore for the quarter under review as compared Rs 20928.40 crore for the corresponding quarter previous year.
source: ventura

 

VA Tech Wabag reports net loss of Rs 2.56 crore in Q3

Total income of the company increased by 17.63% at Rs 718.32 crore for the quarter under review

VA Tech Wabag has reported results for third quarter ended December 31, 2016.

The company has reported 97.59% fall in its net profit at Rs 0.50 crore for the quarter under review as compared to Rs 20.78 crore for the same quarter in the previous year. However, total income of the company increased marginally by 1.79% at Rs 380.82 crore for the quarter under review as compared Rs 374.12 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a net loss after taxes, minority interest and share of loss of associates at Rs 2.56 crore for the quarter ended December 31, 2016, as compared to a net profit of Rs 19.22 crore for the same quarter in the previous year. However, total income of the company increased by 17.63% at Rs 718.32 crore for the quarter under review as compared Rs 610.64 crore for the corresponding quarter previous year.
source: ventura

 

Jaiprakash Associates reports net loss of Rs 1095.02 crore in Q3

Total income of the company decreased by 22.28% at Rs 1648.87 crore for the quarter under review

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

The company has reported a net loss of Rs 1095.02 crore for the quarter under review as compared to a net loss of Rs 827.26 crore for the same quarter in the previous year. Total income of the company decreased by 22.28% at Rs 1648.87 crore for the quarter under review as compared Rs 2121.59 crore for the corresponding quarter previous year.

Jaiprakash Associates is an India-based diversified infrastructure conglomerate. JAL's business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.
source: ventura

 

Lupin plans to launch 25 products in the US in FY18

The Mumbai-based drug firm launched four products in the US market during the third quarter ended December 31

Lupin is planning to launch around 25 products in the US in next finance year. The drug major’s focus remains on the speciality drugs business in the US.

The Mumbai-based drug firm launched four products in the US market during the third quarter ended December 31. It received 11 approvals from the USFDA during the period. It now has a portfolio of 128 generic products in the US market.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
source: ventura

 

GlaxoSmithKline Pharma reports 33% fall in Q3 net profit

Total income of the company decreased by 7.21% at Rs 721.15 crore for the quarter under review

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

The company has reported 32.92% fall in its net profit at Rs 52.95 crore for the quarter under review as compared to Rs 78.93 crore for the same quarter in the previous year. Total income of the company decreased by 7.21% at Rs 721.15 crore for the quarter under review as compared Rs 777.16 crore for the corresponding quarter previous year.

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer.
source: ventura

 

Reliance Defence narrows Q3 net loss to Rs 132.71 crore

Total income of the company increased by 137.48% at Rs 132.87 crore for the quarter under review

Reliance Defence and Engineering has reported results for third quarter ended December 31, 2016.

The company has reported a net loss of Rs 132.71 crore for the quarter under review as compared to a net loss of Rs 293.60 crore for the same quarter in the previous year. Total income of the company increased by 137.48% at Rs 132.87 crore for the quarter under review as compared Rs 55.95 crore for the corresponding quarter previous year.

Reliance Defence and Engineering is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit and another export oriented unit (EOU).
source: ventura

 

IFCI reports net loss of Rs 45.17 crore in Q3

Total income of the company decreased by 32.90% at Rs 635.55 crore for the quarter under review

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

The company has reported a net loss of Rs 45.17 crore for the quarter under review as compared to a net profit of Rs 154.33 crore for the same quarter in the previous year. Total income of the company decreased by 32.90% at Rs 635.55 crore for the quarter under review as compared Rs 947.15 crore for the corresponding quarter previous year.

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
source: ventura

 

SMS Pharmaceuticals plans to invest Rs 15 crore in VKT Pharma

The board of company at its meeting held on February 11, 2017 has approved for the same
SMS Pharmaceuticals has decided to invest Rs 15 crore in VKT Pharma, an associate Company by way of subscription to the equity shares. The board of company at its meeting held on February 11, 2017 has approved for the same.

SMS Pharmaceuticals is a global player in API manufacturing having a strong research and manufacturing team supported by state of the art facilities.
source: ventura

 

Shreyas Shipping inks MOA for acquisition of one container vessel of 1100 teus

The delivery of the vessel is expected in first week of March, 2017

Shreyas Shipping & Logistics has signed a Memorandum of Agreement (MOA) for acquisition of one container vessel of about 1100 teus. The delivery of the vessel is expected in first week of March, 2017.

Shreyas Shipping and Logistics was formed primarily to own and operate vessels for feedering of containers between Indian Ports and Internationally renowned container transshipment ports.
source: ventura