LATEST BUSINESS NEWS

PNB plans to set up a Farmers Training centre in Andhra Pradesh: Report

The bank had been running 10 such FTCs across the country to help farmers by providing necessary training in modern agriculture methods
Punjab National Bank (PNB), India's fourth-biggest state lender by assets, is reportedly planning to set up a Farmers Training centre (FTC) in Andhra Pradesh. The bank had been running 10 such FTCs across the country to help farmers by providing necessary training in modern agriculture methods and technology for optimum productivity with limited investment. By using better seedlings, fertilisers and pesticides, and with an integrated farming approach, agriculture productivity can be improved.

The bank has reported 7.94% rise in its net profit at Rs 621.03 crore for the quarter ended September 30, 2015 as compared to Rs 575.34 crore for the same quarter in the previous year. The bank’s total income has increased by 5.23% to Rs 13701.93 crore for the quarter under review from Rs 13020.46 crore for the corresponding quarter of the previous year.
source : ventura

 

Nse MOTHRSUMI 8.54 k @ 275.60 value 23.55 crs (Bulk / Block Deals )

 

Nse JINDALSTEEL 41.26 lacs @ 79.40 value 32.76 crs (Bulk / Block Deals )

 

Nse IBULHSGFIN 7.26 lacs @ 625.20 value 45.44 crs (Bulk / Block Deals )

 

Nse WOCKPHARMA 1.18 lacs @ 1544 value 18.34 crs (Bulk / Block Deals )

 

Ashoka Buildcon consortium bags project worth Rs 179.82 crore

The Consortium has received Letter of Acceptance from NHIDCL
Ashoka Buildcon along with Bhartia Infra Projects (Consortium - wherein the company's share is 51%) has received Letter of Acceptance (LoA) from NHIDCL. The consortium had bid for the Project viz. 2 laning of Pasighat - Mariyang - Yingkiang (NH - 513) from Singer river to Sijon River section 19.880 KM to 43.257 KM (length 23.777KM) in Arunachal Pradesh under Arunachal Pradesh Package of SARDP-NE on EPC Basis (Project) issued by National Highways & Infrastructure Development Corporation (NHIDCL). The accepted bid value of the project is Rs 179.82 crore.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
source : ventura

 

Nse ONGC 2 lacs @ 224.60 value 4.49 crs (Bulk / Block Deals )

 

Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets

The product will be manufactured at the Pondicherry facility of the company and will be distributed in US through a partner
Shasun Pharmaceuticals has received an approval from the United States Food & Drug Administration (USFDA) for Carisoprodol Tablets USP 250 mg and 350 mg. The product will be manufactured at the Pondicherry facility of the company and will be distributed in US through a partner. The product is expected to be launched shortly.

Carisoprodol Tablets 250 mg & 350 mg has sales of approximately $38 million. While the 350 mg has few Generic players, Shasun expects to be the first marketed generic player in the $16 million Carisoprodol Tablets 250 mg opportunity.

Shasun Pharmaceuticals manufactures active pharmaceutical ingredients (APIs), their intermediates and enteric coating excipients with a significant presence in some key generics. Shasun has created a strong product portfolio, building on its R&D Expertise, regulatory capabilities and multi scale production capacities. It is one of the largest producers of Ibuprofen worldwide.
source : ventura

 

Talwalkars Better Value Fitness enters into agreement to acquire strategic stake in IHPL

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market
Talwalkars Better Value Fitness (TBVF), one of India's largest fitness chains has entered into an agreement to acquire strategic stake in Inshape Health and Fitnez (IHPL), a health and fitness center having operations in Chennai. TBVF will acquire 51% the equity shares from the promoters of the company in an all cash deal.

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market. Through this investment TBVF jointly runs 8 gyms in chennai along with the Inshape Management. The partnership combines TBVF's strong hold in the fitness industry in India with IHPL's expertise in the local industry and market knowledge.

Talwalkars Better Value Fitness is one of the largest fitness chains in India offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand ‘Talwalkars’.
source : ventura

 

Pipavav Defence reports net loss of Rs 170.22 crore in Q2

Total income of the company has decreased by 70.93% at Rs 62.88 crore for the quarter under review
Pipavav Defence and Offshore Engineering Company has reported results for second quarter ended September 30, 2015.

The company has reported a net loss of Rs 170.22 crore for the quarter ended September 30, 2015 as compared to net loss of Rs 120.51 crore for the same quarter in the previous year. Total income of the company has decreased by 70.93% at Rs 62.88 crore for the quarter under review as compared to Rs 216.29 crore in the corresponding quarter of the previous year.

Pipavav Defence and Offshore Engineering Company 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

 

INDIA : WPI FOR OCT AT -3.81% vs -4.54% (mom)

 

Simplex Infrastructures’ arm to buy balance 49% stake in MDEPL for Rs 4.90 crore

The transaction will be carried out in one or more tranches, pursuant to the termination agreement between MDEPL, GIPL and the company
Simplex Infrastructures’ subsidiary - Simplex Infra Development (SIDL), will purchase 49,00,000 equity shares of Maa Durga Expressways (MDEPL) having a face value of Rs 10 each and constituting 49% of the total share capital of MDEPL, for a total consideration of Rs 4.90 crore, from Gammon Infrastructure Projects (GIPL).

The company currently holds 51% of the share capital of MDEPL. The transaction will be carried out in one or more tranches, pursuant to the termination agreement between MDEPL, GIPL and the company.

Besides, Vijayawada Gundugolanu Road Project (VGRPPL), a subsidiary of GIPL, will refund the entire share application money of Rs 4.90 crore paid by SIDL pursuant to the termination agreement between VGRPPL, GIPL and the company.

Simplex Infrastructures has emerged as a leading service provider of infrastructure and construction. Employment of the latest technology has helped Simplex Infrastructure execute projects with precision and timeliness.
source : ventura

 

Coal India reports 16% rise in Q2 consolidated net profit

Total income of the company has increased by 6.90% at Rs 18921.23 crore for quarter under review
Coal India has reported results for second quarter ended September 30, 2015.

The company has reported 33.45% fall in its net profit at Rs 1235.39 crore for the quarter ended September 30, 2015 as compared to Rs 1856.32 crore for the same quarter in the previous year. The company’s total income has decreased by 31.30% to Rs 1466.90 crore for the quarter under review from Rs 2135.17 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 16.03% rise in its net profit after taxes, minority interest and share of profit / (loss) of associates of Rs 2543.8 crore for the quarter ended September 30, 2015 as compared to Rs 2192.38 crore for the same quarter in the previous year. Total income of the company has increased by 6.90% at Rs 18921.23 crore for quarter under review as compared to Rs 17700.12 crore for the quarter ended September 30, 2014.
source : ventura

 

La Opala RG starts commercial production of expanded capacity at Sitarganj plant

The company has commenced production on November 16, 2015
La Opala RG has started commercial production of the expanded capacity of the Sitarganj plant on November 16, 2015.

La Opala RG is engaged in the manufacturing and sale of glassware and tableware in India and abroad. Currently, the installed capacity of its Opal Division and Crystal Division stands at 12,700 MTPA and 1,080 MTPA respectively.
source : ventura

 

MMTC reports net profit of Rs 43.84 crore in Q2

The company’s total income has increased by 95.47% to Rs 4980.02 crore for the quarter under review
MMTC has reported results for second quarter ended September 30, 2015.

The company has reported a net profit of Rs 43.84 crore for the quarter ended September 30, 2015 as compared to net loss of Rs 10.08 crore for the same quarter in the previous year. The company’s total income has increased by 95.47% to Rs 4980.02 crore for the quarter under review from Rs 2547.76 crore for the corresponding quarter of the previous year.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.
source : ventura

 

Nse WOCKPHARMA 2.41 lacs @ 1538.60 value 37.08 crs (Bulk / Block Deals )

 

Apollo Tyres acquires Reifencom GmbH for Euro 45.6 million

This acquisition will enable the company to improve its mix of distribution channels in Germany and Europe
Apollo Tyres has acquired Reifencom GmbH, one of the largest tyre distributors in Germany for Euro 45.6 million. Reifencom GmbH has an online presence in 6 countries -- Germany, France, Italy, Austria, Switzerland and Denmark. In addition, it operates 37 stores and service centers across Germany.

This acquisition will enable the company to improve its mix of distribution channels in Germany and Europe and aid in increasing the visibility of Apollo and Vredestein tyres in the offline and especially the fast growing online retail space. The consideration of the acquisition will be paid in cash and it expects to complete the deal in next one-three months after getting all regulatory approvals.

Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.
source : ventura

 

Reliance Infrastructure signs non binding term sheet with Public Sector Pension Investment Board

The Parties have entered into exclusivity agreement valid till March 31, 2016
Reliance Infrastructure has signed a non - binding Term Sheet with the Public Sector Pension Investment Board (PSP Investments), one of the largest pension fund managers in Canada with C$112.0 billion of net assets under management as of March 31, 2015, in relation to the acquisition by PSP Investments of a 49% equity stake in the Company’s integrated power generation, transmission and distribution business in the city of Mumbai and adjoining areas. The specified business is to be carved out on a going concern basis into a separate SPV, in which the company will own the controlling 51% stake, and PSP Investments will own 49%.

The Parties have entered into exclusivity agreement valid till March 31, 2016. The proposed Transaction is subject to due diligence, definitive documentation, applicable regulatory and other approvals and certain other conditions. Accordingly, there can be no certainty that a Transaction will result. Further announcements will be made at an appropriate stage.

The company’s Mumbai Power business (known as Reliance Energy) distributes power to nearly 3 million residential, industrial and commercial consumers in the suburbs of Mumbai, covering an area of 400 sq km and catering to a peak demand of over 1,800 MW, with revenues of Rs 7,700 crore in FY 2014-15.

Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai, and supplying power to around 29 lakh consumers.
source : ventura

 

Yday FIIs-1051cr in Cash,-1004cr in FNO. DIIs+662cr in Cash.

 

Tomorrow (18.11.15) foll stocks will go ex dividend : Ingersoll Rand Rs.3, Precision Wires Rs.2.5