LATEST BUSINESS NEWS

ADB to lend $1 billion loan to Power Grid

The company will use the fund to build and upgrade high voltage transmission lines and substations
Asian Development Bank (ADB) is all set to lend $500-million government-backed loan and a further $500 million in non-sovereign lending to Power Grid Corporation of India (PGCIL). The company will use the fund to build and upgrade high voltage transmission lines and substations in Rajasthan and Punjab, as part of the Government’s Green Energy Corridor initiative.

The project will also include new high-voltage direct current terminals in Chhattisgarh, Tamil Nadu and Kerala, boosting interconnectivity between the regions from about 10 gigawatt (GW) to 16 GW.

PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems.
source: ventura

 

Suven Life secures four (4) Product Patents in Eurasia, Europe, Israel and Macau
HYDERABAD, INDIA (Dec 11, 2015) – Suven Life Sciences Ltd (Suven) announces today that the grant of one (1) product patent from Eurasia (22043), one (1) product patent from Europe (2521714), one (1) product patent from Israel (201491) and one (1) product patent from Macau (J/001840) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030. The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven 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. With these new patents, Suven has a total of fifteen (15) granted patents from Eurasia, eighteen (18) granted product patents from Europe, eight (8) granted patents from Israel and five (5) granted patents from Macau. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II. “We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally” says Venkat Jasti, CEO of Suven.

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 through the use of GPCR targets. Suven has 3 clinical stage compounds, a Phase 2 undergoing candidate SUVN-502, Phase 1 completed candidate SUVN-G3031 and Phase 1 undergoing candidate SUVN-D4010 for Alzheimer’s disease and Schizophrenia. In addition to that the Company has ten (10) internally-discovered therapeutic drug candidates currently in pre-clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington’s disease, Parkinson’s disease and pain.

 

INDIA : WPI FOR NOV @ -1.99% vs -3.81% (mom)

 

Microsoft India plans to sign 4G data-bundling pact with Bharti Airtel

The 4G data-bundling pact will be extended to the more affordable Lumia 550, a 4G smartphone slated for launch in India around Christmas time
Microsoft India is planning to sign a 4G data-bundling pact with India's No 1 carrier Bharti Airtel to encourage the latter's customers to buy the recently launched Lumia 4G smartphones. The 4G data-bundling pact will be extended to the more affordable Lumia 550, a 4G smartphone slated for launch in India around Christmas time. The Windows 10 device works only on a single 4G band (1800 Mhz) and is likely to be priced below Rs 10,000.

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

 

LIC buys 2.7 lakh shares of Bharat Forge

LIC’s stake in the forging company rose to 5 per cent from 4.9 per cent earlier
Life Insurance Corporation of India (LIC) has bought 2.7 lakh shares or 0.1 per cent stake of Bharat Forge from the open market. Following the acquisition, LIC’s stake in the forging company rose to 5 per cent from 4.9 per cent earlier.

Bharat Forge (BFL) is the flagship company of the $3.0 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Oil & Gas, Power, Construction & Mining, Aerospace and Rail & Marine.
source : ventura

 

Suppose Fed plays a googly. No hike. Then what? Markets will surely fall. Because smart investors in market are confident that there will be a hike.

 

Heritage Foods wins National Energy Conservation Awards 2015

The company has won the awards in the years 2008, 2010, 2012 and 2014
Heritage Foods has won National Energy Conservation Awards 2015, both first and second prizes, in the dairy sector from the Union Power Ministry. The company has won the awards in the years 2008, 2010, 2012 and 2014. The company’s processing units in Tirupati and Hyderabad are awarded the first and second prizes for effective energy conservation methods.

Heritage Foods is one of the fastest growing Private Sector Enterprises in India, with five-business divisions - Daily, Retail, Agri, Bakery and Renewable Energy under its flagship Company Heritage Foods.
source : ventura

 

IOC cuts Petrol price by 50 paise, diesel by 46 paise

The price of petrol in Delhi will become Rs. 59.98 a litre, while diesel will be Rs. 46.09 a litre
State-owned Indian Oil Corporation (IOC) has reduced Petrol prices by 50 paise per litre and Diesel prices by 46 paise per litre with effect from the midnight of December 15/ December 16, 2015. The price of petrol in Delhi will become Rs. 59.98 a litre, while diesel will be Rs. 46.09 a litre. The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
source : ventura

 

Fed raises interest rates by 1 quarter points i.e. 25 basis points

 

It has raised.... But which market were you referring to in your post?

 

Big Relief!

 

In an interview on Zee Business, Mr. Ajay Bagga said that the Stock Markets are likely to fall if Mrs. Sonia Gandhi and Mr. Rahul Gandhi are arrested on 19th December. Rahulji has declared that they would prefer to go to jail but not seek bail.

 

Reliance Capital Trustee buys 1.85% stake in GIC Housing Finance

Reliance Capital Trustee now holds 7.87 per cent in GIC Housing Finance
Reliance Capital Trustee Company has bought 1.85 per cent stake, valued at over Rs 21 crore at the current market prices, in GIC Housing Finance. Following the acquisition, Reliance Capital Trustee, which held 6.01 per cent in the company earlier, now holds 7.87 per cent in GIC Housing Finance.

GIC Housing Finance offers loans on fixed and floating basis. Apart from this, it is having Flexi- Fixed, Step Up/ Step Down schemes and mortgage loans.
source : ventura

 

OK Play India to launch its new product 'Green E-Rickshaw'

The company intends to launch its innovative range of new product line in Ev Expo -- an exhibition focusing on E-Rickshaw
OK Play India has developed a plastic body Green E-Rickshaw. The company intends to launch its innovative range of new product line In Ev Expo -- an exhibition focusing on E-Rickshaw, to be held on 24th, 25th, 26th and 27th December, 2015 at Pragati Maidan, New Delhi.

OK Play India is the largest manufacturer of plastic moulded toys, children furniture and playground equipment in the country.
source : ventura

 

Tata Communications to collaborate with SimbaNET

The agreement will provide a portfolio of technology and communication solutions for enterprises' growing ICT requirements in East Africa
SimbaNET, a member of Wananchi Group and a leading provider of internet connectivity to businesses in Eastern Africa will collaborate with Tata Communications to provide a portfolio of technology and communication solutions for enterprises' growing ICT requirements in East Africa.

The agreement will provide companies located in Kenya, Tanzania and Uganda with access to enterprise solutions such as global network connectivity, direct public cloud access, unified communications and managed security services. It will also provide global businesses with connectivity to East Africa via the company’s global public IP backbone and SimbaNET's regional IP network.

Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
source : ventura

 

Coal India ties up with ICFRE and NERI: Report

The company is committed to set up at least 1,000 MW of solar power generation plants in various states to compensate for greenhouse effects
In order to achieve a production target of a billion tonnes by 2020, Coal India (CIL), the world’s largest coal miner by output, has reportedly tied up with Indian Council of Forest Research and Education (ICFRE) as well as National Energy Research Institute (NERI) to find ways and means of producing coal through measures that would be beyond the mandatory environment norms. Further, the company is committed to set up at least 1,000 MW of solar power generation plants in various states to compensate for greenhouse effects.

Coal India is an Indian state-controlled coal mining company headquartered in Kolkata, West Bengal. With a modest production of 79 Million Tonnes (MTs) at the year of its inception CIL is the single largest coal producer in the world. Operating through 81 mining areas CIL is an apex body with 7 wholly owned coal producing subsidiaries and 1 mine planning and Consultancy Company spread over 8 provincial states of India.
source : ventura

 

HDFC to divest 22.902% stake in HDFC ERGO General Insurance Company

ERGO will acquire 123,357,262 shares of HDFC ERGO at a price of Rs 90.973 per share aggregating to Rs 1,122 crore
Housing Development Finance Corporation (HDFC) and the ERGO Insurance Group, Dusseldorf, Germany (ERGO) have agreed the terms under which ERGO would increase its stake in HDFC ERGO General Insurance Company (HDFC ERGO). Under the shareholders’ agreement between HDFC and ERGO, ERGO had the right to increase its shareholding from 26% in HDFC ERGO as and when laws permitted such increase.

Under the agreement ERGO will acquire 123,357,262 shares representing 22.902% stake of HDFC ERGO at a price of Rs 90.973 per share aggregating to Rs 1,122 crore. As a result of this, ERGO’s shareholding in HDFC ERGO will increase from 25.84% to 48.742%, while that of HDFC will come down from 73.634% to 50.732%. This values HDFC ERGO at Rs 4,900 crore. HDFC ERGO will remain a subsidiary of HDFC.

The transaction is subject to receipt of all necessary approvals, including but not limited to approvals from the Insurance Regulatory & Development Authority of India (IRDA), the Competition Commission of India (CCI) and the Foreign Investment Promotion Board (FIPB).
source : ventura

 

Strides Shasun launches share sale to raise funds up to Rs 1,500 crore

Axis and Jefferies are the bookrunners for the deal
Strides Shasun has launched a share sale to raise funds up to Rs 1,500 crore ($225.7 million). The company is selling shares at Rs 1,278 apiece in the transaction, which comprises a base deal for Rs 1,000 crore with an upsize option of Rs 5 crore. Axis and Jefferies are the bookrunners for the deal.

Strides Shasun is a vertically integrated global pharmaceutical Company headquartered in Bangalore. The company has four business verticals, viz., Regulated Markets, Emerging Markets, Institutional Business and Pharmaceutical Services & Active Ingredients.
source : ventura

 

will that happen?

 

They got bail today so markets are safe

Sonia Gandhi, Rahul Get Bail In Under 5 Minutes In National Herald Case: Live Updates