LATEST BUSINESS NEWS

ABB India sets up global service center

The new center is the third of its kind in the ABB global footprint and is now fully activated in India
ABB India has inaugurated two new facilities that support the nation's digital transformation, energy saving technology and rise in industrial productivity. The company has launched India’s first digitalized remote service center for its energy saving drives solutions and added a new production line for digitalized low voltage drives. The company’s remote service center will provide 24x7 access to information and support on drives installed at customer facilities for predictive maintenance and condition monitoring for all industries including power, cement, oil and gas, metals, food & beverage and many other applications. The new center is the third of its kind in the ABB global footprint and is now fully activated in India. It will support customer installations in India and around the world.

Further, the new production line manufactures digitally enabled low voltage drives (ACS560 and ACS580 series). The drive information in the cloud can be accessed securely with daily devices like smartphones. Drives are an environmentally friendly option to use energy efficiently while running motors based on their current load instead of running them on full speed continuously. These drives provide multiple energy optimization features, are easily commissioned via smartphone, and include features for uninterrupted operations during power fluctuations.
source: ventura

 

Parag Milk Foods launches mango fruit milk juice ‘Slurp’

The company has entered into Rs 8,000 crore mango juice segment
Parag Milk Foods has expanded its product range with the launch of ‘Slurp’, a mango fruit milk juice, as part of plans to become one of the largest FMCG dairy organizations. With this, the company has entered into Rs 8,000 crore mango juice segment and it is entering into this segment after conducting research for the last 18 months in Chennai, New Delhi, Mumbai and Kanpur.

Slurp, made from mangoes, with a dash of milk, fits the bill. The product will be available in 4,000 retails outlets across the four cities.
Mango flavour leads the Rs 7,100-crore fruit-juice market, which is part of the Rs 10,000 crore beverage category. The fruit-drink market is growing at 27 per cent every year.

Parag Milk Foods is one of the leading manufacturers and marketers of dairy-based branded foods in India. It manufactures a diverse range of products including cheese, ghee, fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.
source: ventura

 

GE Energy Europe sells entire stake in GE Power to Alstom Fin Finance

Post the transaction, GE Energy Europe has ceased to hold any shares in the company
GE Energy Europe has sold its entire stake in GE Power India to Alstom Finance. GE Energy Europe BV (GEEE BV), on May 2, 2017, sold its entire 13,789 shares in GE Power India to another promoter, Alstom Finance BV (presently known as Alstom India Tracking BV).

Post the transaction, GE Energy Europe has ceased to hold any shares in the company and will be no longer disclosed as a promoter in any disclosures made by GE Power India as applicable laws in India.

The promoters Alstom Finance and GE Energy Europe held 46,088,294 and 13,789 shares in the company, respectively, as on March 31, 2017.

GE Power India engages in the engineering, procurement, manufacturing, construction, and servicing of power plants and power equipment in India and internationally.
source: ventura

 

Tata Coffee infused $4.75 million in equity capital of TCVCL

The company will set up a state-of-the-art Greenfield Freeze Dried Instant Coffee facility in Vietnam of 5000 MT capacity per annum
Tata Coffee has infused an amount of $4.75 million (approximately Rs30.49 crore) in the equity capital of Tata Coffee Vietnam Company (TCVCL), which is incorporated as a Single Member Limited Liability Company in Vietnam; and consequently, TCVCL became a Wholly-owned Subsidiary of the Company. The move is followed by the company’s decision to set up a state-of-the-art Greenfield Freeze Dried Instant Coffee facility in Vietnam of 5000 MT capacity per annum through a Subsidiary Company with an Estimated Project Cost of $50 million (approximately Rs 350 crore).

Tata Coffee (TCL) incorporated in 1943; is the largest coffee plantation company in Asia. The company is also engaged in production of Pepper and Cardamom in its Coffee Estates.
source: ventura

 

Balaji Amines reports 23% drop in Q4 net profit

Total income from operations of the company increased by 7.34% at Rs 193.14 crore for quarter under review
Balaji Amines has reported results for fourth quarter and year ended March 31, 2017.

The company has reported a fall of 23.44% in its net profit at Rs 17.87 crore for the quarter ended March 31, 2017 as compared to Rs 23.34 crore for the same quarter in the previous year. However, total income from operations of the company increased by 7.34% at Rs 193.14 crore for quarter under review as compared to Rs 179.94 crore for the quarter ended March 31, 2016.

For the year ended March 31, 2017, the company has posted a jump of 39.66% in its net profit at Rs 85.57 crore as compared to Rs 61.27 crore in FY16. Total income from operations of the company increased by 5.56% at Rs 727.30 crore for year under review as compared to Rs 689.00 crore for the year ended March 31, 2016.

For the year ended March 31, 2017, on the consolidated basis, the company has posted a rise of 42.94% in its net profit at Rs 82.35 crore as compared to Rs 57.61 crore in the previous year. Total income from operations of the company increased by 4.64% at Rs 730.59 crore for year under review as compared to Rs 698.21 crore for the year ended March 31, 2016.
source: ventura

 

DR.REDDY Q4 cons PAT Rs.338cr vs Rs.123cr yoy, vs Rs.492cr qoq

 

There are a few good Twitter threads on fundamentals & technicals . @AlphaStreetIn #AlphaStreetView has both .

 

Hidden Gems
Fundamentally analyzed Small and Mid Sized listed Companies on BSE and NSE. Please study or get an advise from your Certified Financial Planner or Advisor before investing into Equities.

https://hemanghigandhi.blogspot.in/

 

Hatsun Agro inks deal with GEA to set up milk plant in Tamil Nadu
The factory, expected to become operational next year, would have a capacity to produce three lakh litres of milk per day in pouches and 1.50 lakh litre of curd.

Chennai-headquartered dairy products maker, Hatsun Agro Product Ltd, has entered into a pact with Germany-based, GEA, to set up a Greenfield plant in Tamil Nadu at an investment of Rs 120 crore.

According to a company statement issued by GEA, "Hatsun Agro Product is currently establishing an automated greenfield dairy project at Dharapuram near Coimbatore in Tamil Nadu. The company has contracted GEA to install it (the factory) on turnkey basis."

The factory, expected to become operational next year, would have a capacity to produce three lakh litres of milk per day in pouches and 1.50 lakh litre of curd, it said.

The manufacturing unit is expected to be fourth largest plant for the Chennai-based dairy maker. GEA would provide an RO plant for concentration of skimmed milk at the factory. It would also provide specialised equipment like homogenizer and flow components at the factory.

Abhay Chaudhari, Country Managing Director, GEA India Cluster, said, "So far, GEA had been supplying components to HAP and it is a great pleasure to be able to partner HAP (Hatsun Agro Products) on their turnkey project."

 

Yes Bank Q1 net profit jumps 32% YoY to Rs 965.52 crore; announces stock split, shares zoom.The board of the company also approved stock split in the ratio 1:5.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-q1-net-profit-jumps-32-yoy-to-rs-965-52-crore-announces-stock-split/articleshow/59771346.cms

 

Result Update - Ceejay Finance

Excellent Numbers released by CFL YoY. June has always been weak quarter. But CFL buck the trend by posting higher revenue and profit.

Revenue up 35%
Net Profit up 65%

For FY 18 CFL can post Net Profit of 6 to 6.5 Cr giving EPS of 17 to 18 per Share.

 

Merrill Lynch picks 3.27% stake in Bank of Baroda

The firm has bought 7.55 crore shares at Rs 147.08 per share on September 20, 2017
Merrill Lynch Markets Singapore has purchased 7.55 crore shares of Bank of Baroda, representing 3.27% stake at Rs 147.08 per share on September 20, 2017.

Separately, UK-based hedge fund Theleme Master Fund, which held 3.29% stake in the public sector lender as of June 30, sold its entire stake of 7.58 crore shares at Rs 147.06 apiece.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
source : ventura

 

On 27.09.17, MOIL will go ex bonus (Bonus Ratio 1:1)

 

On 28.09.17, BHEL will go ex bonus (Bonus Ratio 1:2)

 

On 28.09.17, Bharat Forge will go ex bonus (Bonus Ratio 1:1)

 

Dabur India sets-up online ayurveda marketplace with Amazon: Report

This step has been taken in order to strengthen the company’s presence in the fast-growing space of ‘natural’ consumer products
Herbal-goods major Dabur India has reportedly set up an online ayurveda marketplace with Amazon to strengthen its presence in the fast-growing space of ‘natural’ consumer products.

The online store will sell ayurveda brands, while offering consumers valuable insights into the medicinal properties of ayurvedic products for treating various ailments.

Dabur India is one of the largest FMCG Company in India. Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.
source: ventura

 

VIP Clothing planning to raise Rs 50 crore through rights issue

The proceeds will be used for business expansion through advertising spends and working capital
VIP Clothing is planning to raise Rs 50 crore through rights issue. The company is waiting for final approvals from Securities and Exchange Board of India (SEBI). It has already got in principle approvals from BSE and NSE. The proceeds will be used for business expansion through advertising spends and working capital.

VIP Clothing (formerly Maxwell Industries) is leading Indian company engaged in manufacturing and marketing of innerwear. They are well-known manufacturers of brands like VIP Innerwear, Frenchie, Frenchie X, and VIP Feelings and all of their sub brands.
source: ventura

 

EUROPEAN MARKETS UPDATE: FTSE-33,CAC-6, DAX-13

 

IT department detects Rs 650 crore undisclosed income in Cafe Coffee Day probe

Search operations was conducted at premises of Cafe Coffee Day and its group companies across 25 locations
The Income Tax (IT) Department has concluded its search on the Coffee Day Group companies and detected undisclosed income worth over Rs 650 crore after four-day raids. The IT department is expecting the undisclosed income figures to be higher.

Search operations was conducted at premises of Cafe Coffee Day and its group companies across 25 locations in Bengaluru, Chikmaglur, Mumbai and Chennai, including the residence of Chairman and Managing Director V G Siddhartha.

Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.
source : ventura

 

Suven Life Sciences secures product patents in India, Japan

The granted claims of the patents include the class of selective 5-HT compounds
Suven Life Sciences has secured one product patent each from India and Japan corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2027 and 2032 respectively.

The granted claims of the patents include the class of selective 5-HT compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.
source : ventura