LATEST BUSINESS NEWS

Nse ITC total 15.50 lacs @ 350 value 54.25 crs (Bulk/ Block Deals )

 

Canara Bank to raise Rs 2400 crore through Private Placement

The Bond Committee during the course of its meeting held on November 17, 2015, has approved for the same
Canara Bank has received an approval to raise additional capital of Rs 2400 crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 & also to maintain healthy level of CRAR. The Bond Committee during the course of its meeting held on November 17, 2015, has approved for the same.

Canara bank has reported 40.65% fall in its net profit at Rs 478.84 crore for first quarter ended June 30, 2015 as compared to Rs 806.86 crore for the same quarter in the previous year. However, total income of the bank has increased by 4.47% at Rs 12252.64 crore for quarter under review as compared to Rs 11728.01 crore for the quarter ended June 30, 2014.
source : ventura

 

INOX Leisure commences commercial operations of new Multiplex Theatre at Mumbai

The company along with Satyam Cineplexes, is now present in 55 cities with 102 multiplexes, 402 screens and a total seating capacity of 104,894 seats across India
INOX Leisure has commenced commercial operations of a new Multiplex Cinema Theatre, taken on Leave & License basis located at R City Mall, Ghatkopar, Mumbai, with effect from November 20, 2015. The said Multiplex Cinema Theatre has 9 screens and 2,109 seats.

INOX, along with Satyam Cineplexes, is now present in 55 cities with 102 multiplexes, 402 screens and a total seating capacity of 104,894 seats across India.

INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India.
source : ventura

 

Britannia Industries plans to open new R&D centre: Report

The company is also planning to enter the snack, chocolate and breakfast segments in the next six months
Britannia Industries (BIL), India's leading Food Company, is reportedly planning to open a new Rs 65 crore research and development (R&D) centre in February to spur innovation. The newfound focus on innovation comes at a time when Britannia faces aggressive competition from its rivals in rural markets. Further, the company is also planning to enter the snack, chocolate and breakfast segments in the next six months.

Britannia is a leading food company in India with over Rs 6000 crore in revenues, delivering products in over 5 categories through 3.5 million retail outlets to more than half the Indian population. Britannia was one of the first companies in India to pioneer category defining innovations like Cream Cheese and introducing a host of international flavors for its cubes & spreads in India.
source : ventura

 

Kajaria Ceramics to start new manufacturing facility in Andhra Pradesh

The plant to be commissioned by 2017 will cater to the tile needs of the southern region
Kajaria Ceramics is planning to start new manufacturing plant of vitrified tiles in Andhra Pradesh. The plant to be commissioned by 2017 will cater to the tile needs of the southern region.

Further, the company is adding a new manufacturing facility in Virat Nagar, Rajasthan, which will be operational by next month. Currently, the company has eight manufacturing facilities in the country.

Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India. It has an annual aggregate capacity of 54.10 mn. sq. meters, distributed across seven plants-Sikandrabad in Uttar Pradesh, Gailpur in Rajasthan, four plants in Morbi in Gujarat and one at Vijayawada in Andhra Pradesh.
source : ventura

 

Jubilant FoodWorks to add around 5,000 employees by FY16 end: Report

The company is hiring these employees for its 150 new Domino's Pizza stores and 40 new Dunkin' Donuts stores in India
Jubilant FoodWorks is reportedly planning to hire around 5,000 employees by end of FY16. The company is hiring these employees for its 150 new Domino's Pizza stores and 40 new Dunkin' Donuts stores in India.

The company, which is already a 30,000-people strong organisation, is looking to invest about Rs 200 crore for its expansion plans. Further, it is planning to set up a state-of-the-art factory in Greater Noida.

Jubilant FoodWorks is India’s largest and fastest growing food service company. The company and its subsidiary operates Domino’s Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.
source : ventura

 

Bharti Airtel enters into partnership with Government of Andhra Pradesh for E-Shakti

E-Shakti is an initiative to build mobile internet awareness and literacy among the women of Andhra Pradesh
Bharti Airtel has entered into partnership with the Government of Andhra Pradesh for a mobile literacy digital mission in collaboration with SERP (Society for Elimination of Rural Poverty). As a part of this, the company has launched ‘E-Shakti’ -- an initiative to build mobile internet awareness and literacy among the women of Andhra Pradesh.

Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
source : ventura

 

RPP Infra Projects bags order worth Rs 26.50 crore

The order is for improving & widening road on NH-17 & NH-48 in identified stretches of New Mangalore Port Road Connectivity Project
RPP Infra Projects engaged in business of infrastructure development such as highway roads, bridges, civil construction works, irrigation & water supply projects & power plant, has received order worth Rs 25.60 crore for improving & widening road on NH-17 & NH-48 in identified stretches of New Mangalore Port Road Connectivity Project. The said work is to be completed within 9 months.

RPP Infra Projects is engaged in business of infrastructure development such as highway, roads, bridges, civil construction works/ irrigation & water supply projects & power plants.
source : ventura

 

Binny to sell 1.61 acres land at Chennai for Rs 24.58 crore

The board of directors at its meeting held on November 20, 2015 has approved for the same
Binny has received an approval to sell land to an extent of 1.61 acres situated at Vyasarpadi, Chennai for a consideration of Rs 24.58 crore or higher price. The board of directors at its meeting held on November 20, 2015 has approved for the same.

The board of directors has also authorized the Executive Chairman and Managing Director of the company severally to finalize the sale and execute the necessary sale agreement.

Binny is engaged in the business of marketing textiles goods, marketing engineering and other products, shipping related business, operating cold storage at Cochin, travel agency business approved by IATA and TAI, real estate and Container Freight Station.
source : ventura

 

Reliance Infrastructure to complete acquisition of Pipavav Defence

The company has received all requisite approvals including the approval of the CCI and the Gujarat Maritime Board for the acquisition
Reliance Infrastructure has received all requisite approvals including the approval of the Competition Commission of India (CCI) and the Gujarat Maritime Board (GMB) for the acquisition together with management control of Pipavav Defence and Offshore Engineering Company (Pipavav Defence).

Reliance Infrastructure, together with its wholly owned subsidiary Reliance Defence Systems is accordingly proceeding to complete the acquisition of Pipavav Defence. The mandatory open offer to acquire up to 26% shares from the public shareholders of the Company, at a price of Rs. 66 per share, in terms of applicable SEBI Takeover Regulations shall open on December 02, 2015 and shall close on December15, 2015.

As per the agreement with the Promoters of Pipavav Defence, Reliance will acquire from them 130,000,000 equity shares representing approx. 18% shareholding in the Company at a price of Rs 63 per share, aggregating Rs 819 crore. Reliance will also acquire from the Promoters of Pipavav Defence such number of additional equity shares of the Company, at the same price of Rs. 63 per share, as is required to ensure that Reliance’s shareholding is not less than 25.10% of the Target Company, after taking into account the acquisitions made under the Open Offer.

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

 

Ruchi Soya Industries inks MoU with Karnataka government: Report

The company will invest Rs 350 crore in the State, both in the agriculture and energy sectors
Ruchi Soya Industries has reportedly signed memorandum of understanding (MoU) with Karnataka government. The company will invest Rs 350 crore in the State, both in the agriculture and energy sectors. Setting the stage for the next edition of Invest Karnataka-2016, the State has hosted the Mumbai Road Show at the Taj Mahal Palace Hotel in Mumbai.

Recently, the company has reported 36% rise in its net profit at Rs 7.08 crore for the quarter ended September 30, 2015 as compared to Rs 5.22 crore for the same quarter in the previous year.

Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.
source : ventura

 

Nse WOCKPHARMA 3.65 lacs @ 1615 value 59.02 crs (Bulk / Block Deal)

 

Nse AXISBANK 2.01 lacs @ 463.75 & 5.97 lacs @ 462.65 total value 37 crs (Bulk / Block Deal)

 

Clariant to acquire Kilfrost’s aircraft de-icing business in Europe: Report

The transaction is subject to regulatory approvals and conditional upon merger clearance
Clariant has reportedly inked an agreement with Kilfrost to acquire Kilfrost’s aircraft de-icing business in Europe. The transaction is subject to regulatory approvals and conditional upon merger clearance.

Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.
source : ventura

 

Axis Bank opens representative office in Dhaka, Bangladesh

The bank aims to leverage the growing economic integration between the two countries by actively facilitating trade transactions
In bid to further strengthen the bank’s presence in Asia, Axis Bank has opened a representative office in Dhaka, Bangladesh to promote the trade finance business. The bank aims to leverage the growing economic integration between the two countries by actively facilitating trade transactions, both inbound as well as outbound. The bank will also contribute towards employment generation, both directly and indirectly in the country. This representative office will also enable the bank to move up the value chain and enhance its risk return through secondary market risk participations with banks in Bangladesh.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
source : ventura

 

Britannia Industries aims top-line of Rs 20,000 crore within 5-6 years

The company is planning to expand into ready-to-eat, ready-to-cook and drinks category in a phased manner
Britannia Industries is targeting to garner a top-line of Rs 20,000 crore within 5-6 years. The company is all set to finalize its plans to expand in dairy segment in the next six months besides introducing new variants of its value segment biscuit brand Tiger.

Moreover, in the next two years and beyond the company is planning to expand into ready-to-eat, ready-to-cook and drinks category in a phased manner.

Britannia, one of the India’s biggest brands of the country, has a market share of over 33%. More-than-a-century old Britannia has launched big brands in FMCG Segment. The company is expanding its customer base by launching new products and renovating existing ones.
source : ventura

 

Suzlon bags maiden order from Hero Future Energies for 31.50 MW wind power project

It will install its S97 suite of WTGs with 120m hub height and rated capacity of 2.1 MW each at Telangana
Suzlon Group, one of the leading wind turbine manufacturer, has won its maiden order from Hero Future Energies, an Independent Power Producer (IPP) company, for 31.50 MW of wind power project. Suzlon will install its S97 suite of WTGs (wind turbine generators) with 120m hub height and rated capacity of 2.1 MW each at Zaheerabad site in Medak district, Telangana on supply and installation basis. The project will be scheduled for commissioning by June 2016.

The S97 - 120m is the worlds’ tallest Hybrid tower and combines both lattice and tubular structure which is designed indigenously to harness the available wind energy across low wind sites. It increases energy output by 12% to 15% over other turbines of same capacity.

Suzlon Group is a leading wind turbine manufacturer in India having a global presence with spread extending across Asia, Australia, Europe, Africa and North and South America.
source : ventura

 

Ricoh India enters into alliance to provide Managed Print Services

The company will provide it on PpP model to the un-served and under-served geographies in India through various Vakrangee Kendras
Ricoh India has entered into an alliance with Vakrangee, to provide Managed Print Services (MPS) on a Pay per Unit (PpP) model to the un-served and under-served geographies in India through various Vakrangee Kendras. Through this alliance, Ricoh India initially proposes to deploy Multi-functional Printers (MFPs) at various Vakrangee Kendras located PAN India.

With the execution of National MPS agreement with Ricoh, Vakrangee intends to utilize the synergy based on strength of high quality product offering of Ricoh with the support of quality services and expertise of Vakrangee to serve the end users. Thereafter, with this alliance, Vakrangee has added another essential and widely used service to the basket of services that are being offered through its last-mile retail outlets called Vakrangee Kendra.

Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services.
source : ventura

 

Indian Metals & Ferro Alloys declares lockout at Therubali Unit

The company has declared lockout with effect from 'A shift' on November 21, 2015 consequent to illegal action by workers in not reporting for duty
Indian Metals & Ferro Alloys has declared lockout at the company's Therubali unit in Rayagada District, Odisha with effect from 'A shift' on November 21, 2015 consequent to illegal action by workers in not reporting for duty.

Indian Metals & Ferro Alloys is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.
source : ventura

 

Nse SUNPHARMA 1.04 lacs @ 717.20 value 7.49 crs (Block /Bulk Deals)