LATEST BUSINESS NEWS

NSE GSKCONS 16000 SHARES @6013.50 VALUE 10 Cr. (BULK /BLOCK DEALS)

 

NSE ULTRACEMCO 15000 SHARES @ 2879 VALUE Rs. 4.31 Cr. (BULK /BLOCK DEALS)

 

NSE NTPC 8,45,000 QUANTITY @ 132 VALUE Rs. 11.15 Cr. (BULK /BLOCK DEALS)

 

Ashiana Housing enters into Understanding for Development of project in Tamshedpur

The land for the proposed project is situated at Village Asangi, Thana no. 126, Adityapur, Jamshedpur
Ashiana Housing has entered into an understanding for development of a ‘Regular Group Housing Project’, on 7 acres (approx.) of land with saleable area of 5.60 lakhs square feet (approximately). The land for the proposed project is situated at Village Asangi, Thana no. 126, Adityapur, Jamshedpur.

Ashiana Housing is a fast growing real estate developer with its head office in New Delhi, India. The company has presence in group housing, active senior living, retail, hotels and facilities management.
source:ventura

 

AXISBANK Q2 PAT Rs. 1916 Cr. Vs Rs.1611 Cr. YOY ,Vs Rs. 1978 Cr.QOQ

 

LUPIN Q2 CONS PAT Rs. 409 Cr.Vs Rs.630 Cr. YOY ,Vs Rs. 525 Cr. QOQ

 

SSWL bags export order for supply of Caravan Steel wheels for EU After market

Total order value would be about USD 38K for supplying approx 7,000 wheels in a period of six months starting January 2016
Steel Strips Wheels (SSWL) has bagged another exports order for supply of Caravan Steel wheels for EU After market. Total order value would be about USD 38K for supplying approx 7,000 wheels in a period of six months starting January 2016. This order is expected to repeat in coming months which may result in total year volume in the range of 20,000 wheels. The orders will be executed from SSWL's Chennai plant.

SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
source:ventura

 

DISH TV INDIA REPORTS CONSOLIDATED NET PROFIT OF Rs. 86.96 Cr. in Q2

 

AXIS Bank reports 19% rise in Q2 net profit

Total income has increased by 13.75% at Rs 12001.01 crore for quarter under review
AXIS Bank has reported results for second quarter ended September 30, 2015.

The bank has posted a rise of 18.93% in its net profit at Rs 1915.64 crore for the quarter ended September 30, 2015 as compared to Rs 1610.71 crore for the same quarter in the previous year. Total income has increased by 13.75% at Rs 12001.01 crore for quarter under review as compared to Rs 10549.97 crore for the quarter ended September 30, 2014.

The bank’s gross NPA for the July-September quarter of the current fiscal increased to 1.38%, as compared to 1.34% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.48% in Q2FY16.
source:ventura

 

Lupin reports 35% fall in Q2 consolidated net profit

Total income of the company has increased marginally by 2.41% at Rs 3362.76 crore for quarter under review
Lupin has reported results for second quarter ended September 30, 2015.

The company has reported 7.44% rise in its net profit at Rs 493.80 crore for the quarter ended September 30, 2015 as compared to Rs 459.62 crore for the same quarter in the previous year. The company’s total income has increased by 9.97% to Rs 2581.91 crore for the quarter under review from Rs 2347.83 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 35.11% fall in its net profit/(loss) after taxes, minority interest at Rs 408.84 crore for the quarter ended September 30, 2015 as compared to Rs 630.04 crore for the same quarter in the previous year. However, total income of the company has increased marginally by 2.41% at Rs 3362.76 crore for quarter under review as compared to Rs 3283.64 crore for the quarter ended September 30, 2014.
source:ventura

 

TVSMOTOR Q2 PAT Rs. 116 Cr. Vs Rs. 95 Cr. YOY , Vs Rs. 90 Cr. qoq

 

ALEMBIC PHARMA Q2 cons PAT Rs. 289 Cr. Vs Rs. 77Cr. YOY , vs Rs. 70 Cr. qoq

 

MARUTI Q2 PAT Rs. 1226 Cr. Vs Rs. 863 Cr. yoy , Vs Rs. 1193 Cr qoq

 

Bajaj Auto unveils three new bikes

All three bikes have twin spark, two valve DTS-i engines
Bajaj Auto has unveiled the Avenger Cruise - 220, Street - 220 at Rs 84,000 and the Avenger Street - 150 at Rs 75,000 (Delhi showroom prices exclusive of taxes). All three bikes have twin spark, two valve DTS-i engines and also have sport telescopic suspension with antifriction bush in the front and twin shock absorbers in the rear.

The Street 150 produces 14.54 PS power at 9000 RPM, with Street 220 and Cruise 220 promising 19.03 PS power at 8400 RPM, while the Street 150's kerb weight is 148 kg, the Street 220 weighs is 150 kg and the Cruise 220 model weighs is 155 kg.

Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
source:ventura

 

STRIDES ARCOLAB Q2 CONS PAT Rs. 19 Cr. Vs Rs. 52 Cr. YOY ,Vs Rs. 42 Cr. qoq

 

Shoppers Stop opens new store in Jaipur

The company has now 75 “Shoppers Stop” (including five airport stores) and 42 ‘Mothercare’ stores under its operations
Shoppers Stop has opened its ‘Shoppers Stop’ store and one shop in shop ‘Mothercare’ store at Man Upasna, Jaipur, With these, the company has now 75 “Shoppers Stop” (including five airport stores) and 42 ‘Mothercare’ stores under its operations.

Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.
source:ventura

 

MHRIL Q2 PAT Rs. 29 Cr. Vs Rs. 25 Cr. YOY , Vs Rs. 25 Cr. qoq

 

Opto Circuits arm files voluntary petition to facilitate debt restructuring

Cardiac Science Corporation has filed voluntary petition under Chapter 11 of the US Bankruptcy Code
Opto Circuits (India)’s subsidiary company ‘Cardiac Science Corporation, USA’ has filed voluntary petition under Chapter 11 of the US Bankruptcy Code to facilitate debt restructuring in US Bankruptcy Courts in the Western District of Wisconsin on October 20, 2015.

The above action is initiated by the secured lenders to the company for such filing and the management of the company is taking effective legal recourse required in this regard.

Opto Circuits India is a multinational medical device company headquartered out of Bengaluru, India. The company designs, develop, manufacture, market and distribute a range of medical products that are used by healthcare establishments in more than 150 countries.
source:ventura

 

ICRA assigns rating to bank facilities of Wheels India

The credit rating agency has assigned the rating ‘A1’ for Commercial Paper Programme amounting to Rs 50 crore
Credit rating agency, ICRA has assigned the rating ‘A1’ for Commercial Paper Programme amounting to Rs 50 crore of Wheels India. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk.

Wheels India has grown as a leading manufacturer of steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment in India.
source:ventura

 

SKS Microfinance to receive Rs 100 crore refinance line from MUDRA

This is the first refinance limit sanctioned to the company by MUDRA
SKS Microfinance will avail its first refinance limit from MUDRA whereby MUDRA (Micro Units Development & Refinance Agency), launched by the Government of India for financing micro entrepreneurs engaged in small business activities like manufacturing, processing, service sector and trade, has sanctioned a refinance line of Rs 100 crore at 10% per annum to SKS Microfinance.

The development is expected to contribute to bringing down the cost of interest-bearing liabilities at SKS. Earlier, with the cost of its interest-bearing liabilities dropping to 11.9% in Q1-FY16 from 13.6% in FY14 on account of downward adjustments in risk premium, the company could reduce the interest rate charged to borrowers.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.
source:ventura