LATEST BUSINESS NEWS

Welspun Corp bags order for supply of 216K MTs line pipes

Current order book of the company has crossed 1040K MTs worth at Rs 6400 crore
Welspun Corp has won an order for supply of 216K MTs line pipes for an onshore project in Americas. With the addition of this order, current order book of the company has crossed 1040K MTs worth at Rs 6400 crore.

Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
source : ventura

 

ACC to open a series of cement brick-making units

Each plant calls for an investment of Rs 2-2.6 crore
ACC is planning to open a series of cement brick-making units in partnership with dealers and social organizations, to retain its retail rural market share and enhance focus on value-added products.

While ACC will provide the expertise and technical support, the joint venture partner, which gets to retain 80 per cent of the profit, would own and operate the units. Each plant calls for an investment of Rs 2-2.6 crore.

The brick units have to compulsorily source cement from ACC which has opened 19 brick units largely in the northern and eastern part of India. The company is also planning to set up another 26 brick units in seven months.

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.
source : ventura

 

Nse AXISBANK 1.80 lacs @ 467 & 1.25 lacs @ 467.50 total value 14.29 crs (Bulk / Block Deals)

 

GAIL launches Bhuvan- Portal Project on satellite monitoring of Pipeline ROU

GAIL will start live satellite monitoring of the pipeline RoU by January 2016 and is also looking for alternative methods like advance UAV
In order to address the pipeline security concern, GAIL (India) in collaboration with National Remote Sensing Centre (NRSC), a unit of Indian Space Research Organization (ISRO), has launched an innovative surveillance geo-portal called ‘Bhuvan-GAIL portal’ utilizing space technology for its pipeline application. Despite all challenges, GAIL has proved that the space technology can be efficiently used for monitoring the pipeline Right of Use (RoU). GAIL has over 13000 Km of Pipeline network wherein monthly monitoring of pipeline ROU at present is being carried out through Helicopter surveys.

GAIL will start live satellite monitoring of the pipeline RoU by January 2016 and is also looking for alternative methods like advance Unmanned Ariel Vehicle (UAV) which can also be integrated with this system. GAIL also developed an innovative mobile application, from which the pictures of the exception taken locally from any mobile describing the actual scenario can be uploaded instantly to the portal. A report system integrated with this Bhuvan-GAIL portal can send alerts to the relevant executives via SMS and email regarding the changes noted along the ROU and also arrival of any new satellite imagery. To establish the technical feasibility of utilizing space technology for its pipeline applications, GAIL started the study with Imageries from Indian Satellites and later shifted to very high resolution foreign satellites.
source : ventura

 

Punjab National Bank opens its first special women branch in Rajasthan

The Vidhyadhar Nagar branch will run by women employees and will only cater to women
Punjab National Bank (PNB) has opened its first special women branch in Rajasthan at Vidhyadhar Nagar. During the inauguration event, altogether 101 Mudra Loan worth Rs 1.51 crore was approved and distributed. The Vidhyadhar Nagar branch will run by women employees and will only cater to women. Earlier, the bank had opened similar women branches in Bengaluru and Pune.

With more than 120 years of strong existence and a network of 6564 branch offices including 3 foreign branches & One Offshore Banking Unit, 8348 ATMs as on Mar’15, Punjab National Bank is serving more than 9 crore esteemed customers. The Bank enjoys strong fundamentals, large franchise value and good brand image. To meet the growing aspirations of the customers and compete in today’s tough conditions, the Bank offers wide range of products and services.
source : ventura

 

TBZ inks second franchise agreement for its upcoming store in Jaipur

This would be the second franchise store of TBZ-The Original, taking forward its legacy of more than 150 years
Tribhovandas Bhimji Zaveri (TBZ), the country’s leading jewellery retailer, has signed a franchise agreement for its upcoming store in Jaipur, Rajasthan. This would be the second franchise store of TBZ-The Original, taking forward its legacy of more than 150 years. Every franchise store will offer a wide array of innovative and attractive jewellery designs with an added attraction of custom-made products catering to the tastes of its discerning customers. They will provide the same standardized shopping experience to customers, as any company owned store would.

The company will be adopting a mix of company-owned stores and franchise stores to expand its domestic operations. The major part of expansion will be done through addition of franchisee stores. This will enable the company to increase its geographical footprint in an asset-light manner and help in improving the return ratios.

Tribhovandas Bhimji Zaveri, a well known jewellery retailer in India, is primarily engaged in selling gold and diamond-studded jewellery.
source : ventura

 

CRISIL downgrades Credit Rating of EID Parry’s bank facilities

The rating on the Company's short term debt and bank loan facilities has been reaffirmed at 'A1+'
CRISIL has downgraded its Credit Rating to EID Parry's Long Term Bank Facilities and Debt Programmes to 'A+ /Stable' from 'AA-/ Stable'. The rating on the Company's short term debt and bank loan facilities has been reaffirmed at 'A1+'.

EID Parry (India) is part of the Tamil Nadu-based Rs 269 Billion Murugappa Group and the largest sugar producer in South India and is one of the top five sugar producers in the country. EID Parry, a dominant player in sugar with interests in promising areas of bio - pesticides and nutraceuticals, is one of the oldest companies in India.
source : ventura

 

Ashok Leyland wins contract for 3600 vehicles worth $200 million

This contract is being funded by EXIM Bank of India and is pending final clearance from respective governments
Ashok Leyland, flagship of the Hinduja Group, has signed a contract with the government of Cote D'Ivoire for 3600 vehicles worth $200 million. This contract is being funded by EXIM Bank of India and is pending final clearance from respective governments. The vehicles, which include trucks and buses, will be delivered over the next 12 months.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
source : ventura

 

Maruti Suzuki plans to invest nearly Rs 15,000 crore in next five years

The company is looking to double its annual sales volume from the current 1.1 million units to 2 million units by 2020
Maruti Suzuki India (MSIL), the largest passenger cars maker in India, is planning to invest nearly Rs 15,000 crore over the next five years, to buy land in the country and to ramp up its dealership network. The company is looking to double its annual sales volume from the current 1.1 million units to 2 million units by 2020. In order to achieve this target, the company is planning to expand its dealer base across the length and breadth of the country. The total investment amount needed for ramping up the distribution and dealership network was nearly Rs 30,000 crore. Out of this, the company will be investing half of the money, and dealers will be putting in the other half. The company currently has nearly Rs 13,000 crore in reserves.

Maruti Suzuki India, country’s largest car maker, has registered a rise of 29.10% in its total car sales (Domestic + Export) for the month of October 2015 at 134,209 units, as against 103,973 units in 2014. The company’s domestic sales rose by 24.7% in October 2015 at 121,063 units, as against 97,069 units in corresponding month last year.
source : ventura

 

SpiceJet plans to order more than 150 planes in FY16

The company has no intention of diluting equity to pay for the planes
SpiceJet is planning to order more than 150 planes in the current financial year. The Budget airline is in the process of placing a large aircraft order.

The airline was generating enough money internally but had unused credit lines that could be utilised to pay for the aircraft. The company has no intention of diluting equity to pay for the planes.

Currently, the airline has in its next generation fleet 20 Boeing 737 and 1 Airbus A319 aircraft along with 14 Bombardier Q-400 aircraft. Further, the company has unveiled a new winter schedule, raising a total daily flight operation to 291 from the current 250, adding 10 new sectors, 30 new frequencies and 22 connecting flights.
source : ventura

 

PVR to open 23 screens in the current financial year

The new screens will largely be in PVR Cinemas and PVR Premium
PVR is planning to open 23 screens in the current financial year to take the total to 500 in the same fiscal. The company's target is to reach 1,000 screens. The company has a capex of Rs 200 crore this fiscal, which includes Rs 135-140 crore for new projects and the remaining for renovation and the cost of each new screen is around Rs 2-2.5 crore.

The company currently operates 477 screens across 44 cities in the country and has four brands across different price point’s viz. PVR talkies, PVR Cinemas, PVR Premium and newly launched PVR Icon. The new screens will largely be in PVR Cinemas and PVR Premium.

The company has recently launched the ‘PVR Icon’ brand -- an ultra-premium category, at one of its multiplexes at a suburban mall with an investment of Rs 25 crore and ‘PVR Icon’ brand will be launch in Bengaluru and Pune in the next fiscal, taking the total to three properties under the newly-created brand. The company will be spending Rs 60-70 lakh on marketing for the new brand PVR Icon.

PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain.
source : ventura

 

Bharat Forge to invest Rs 500 crore in setting up defence systems facility

The company is likely to announce the project early next year
Bharat Forge is planning to invest Rs 500 crore in setting up a defence systems facility in association with a joint venture partner. The company is likely to announce the project early next year.

In the last one year, the new investment commitments in defence and aero space sector are to the tune of Rs 1,000 crore, including Bharat Forge’s proposed project.

Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
source : ventura

 

Cipla inks investment pact with FIL Capital Investments

The investment is subject to approvals from the FIPB and CCI, and the transfer of Cipla’s consumer healthcare business to Cipla Health
Cipla has inked an investment pact with FIL Capital Investments (Mauritius) II for its consumer healthcare business. The investment is subject to approvals from the Foreign Investment Promotion Board (FIPB) and the Competition Commission of India (CCI), and the transfer of Cipla’s consumer healthcare business to Cipla Health.

In July, Cipla’s board had approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II or its affiliates in its recently launched consumer healthcare business.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 150 countries. Its portfolio includes 1500 plus products across therapeutic categories with one quality standard globally.
source : ventura

 

SpiceJet to operate more number of flights from Dubai

The airline would enhance its connectivity from Dubai to a host of Indian cities by increasing frequencies on multiple routes
SpiceJet is planning to operate more number of flights from Dubai to various Indian cities. Celebrating UAE’s 44th National Day, the low cost carrier has offered special one-way ticket for its flights from Dubai, starting from base fare of AED 244 (over Rs 4,400).

The airline would enhance its connectivity from Dubai to a host of Indian cities by increasing frequencies on multiple routes. Meanwhile, the sale of special fare tickets would be open till December 3. The travel period covered in this sale is from February 1 to October 29, 2016.

Currently, the airline has in its next generation fleet 20 Boeing 737 and 1 Airbus A319 aircraft along with 14 Bombardier Q-400 aircraft. Further, the company has unveiled a new winter schedule, raising a total daily flight operation to 291 from the current 250, adding 10 new sectors, 30 new frequencies and 22 connecting flights.
source : ventura

 

Nse TATAELEXI 4.29 lacs @ 2036.80 value 87.48 crs (Bulk / Block Deals )

 

Nestle India resumes manufacturing of Maggi Noodles at its Tahliwal Factory in Himachal Pradesh

With this, the company has resumed manufacture of Maggi Noodles at all five Noodle manufacturing facilities
Nestle India has resumed manufacturing of Maggi Noodles at its Tahliwal (Himachal Pradesh) Factory. With this, the company has resumed manufacture of Maggi Noodles at all five Noodle manufacturing facilities.

Nestle is the world's leading Nutrition, Health and Wellness company. The Company was founded in 1866 by Henri Nestle in Vevey, Switzerland, where the company’s headquarters are still located today. The company employs around 280,000 people and has factories or operations in almost every country in the world.
source : ventura

 

Tata Global Beverages launches Instant coffee product in the Indian market

The product has been jointly developed by TGBL and its subsidiary, Tata Coffee (TCL)
Tata Global Beverages (TGBL) has launched an Instant coffee product in the Indian market under the brand name ‘Tata Coffee Grand’ on November 29, 2015. The product has been jointly developed by TGBL and its subsidiary, Tata Coffee (TCL). The product will be manufactured by TCL and marketed and distributed by TGBL.

Tata Global Beverages, formerly known as Tata Tea, is a multinational non-alcoholic Beverages Company headquartered in Kolkata, West Bengal, India and a subsidiary of the Tata Group. It is the world's second-largest manufacturer and distributor of tea. Tata Global Beverages markets tea under the major brands Tata Tea, Tetley, Good Earth Teas and JEMCA.
source : ventura

 

Andhra Bank opens its 41st branch at Dubba in Telangana

It is the sixth branch in the town and two more branches in the district and three in Medak would be opened soon
Andhra Bank has opened its 41st branch at Dubba, in Karimnagar District of Telangana State. It is the sixth branch in the town and two more branches in the district and three in Medak would be opened soon.

The bank has reported 73.89% rise in its net profit at Rs 251.26 crore for the quarter ended September 30, 2015 as compared to Rs 144.49 crore for the same quarter in the previous year. The bank’s total income has increased by 7.25% to Rs 4744.16 crore for the quarter under review from Rs 4423.62 crore for the corresponding quarter of the previous year.
source : ventura

 

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Dr. Reddy’s Laboratories inks MoU with LSSSDC and VIPER

The partnership is aimed at addressing the shortage of skilled and certified manpower in the industry
Dr. Reddy’s Laboratories has signed a Memorandum of Understanding (MoU) with The Life Sciences Sector Skill Development Council (LSSSDC) and Vishnu Institute of Pharmaceutical Education and Research (VIPER). The MoU is aimed at fostering market research collaboration between LSSSDC and industry partners that in turn will help align educational courses to industry requirements. The MoU will also collaborate to create pharmaceutical, biotechnology and clinical research occupation standards, as well as establish a competency matrix for job roles in the pharmaceutical sector.

The partnership is aimed at addressing the shortage of skilled and certified manpower in the industry, and will help in establishing the framework for long-term collaboration between the Council and Industry. The partnership will also help strengthen the skilled talaour pool and create standards for certification and accreditation, as per the requirements of the life sciences sector.

Dr. Reddy’s is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.
source : ventura