LATEST BUSINESS NEWS

then markets are going to go down sharply on monday

 

RBI permits FIIs to acquire up to 45% stake in Jubilant Life Sciences

The company had earlier received approval from its Board and shareholders for hiking the limit of purchase of its equity shares
Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) and registered foreign portfolio investors (RFPI) to buy up to 45% stake in Jubilant Life Sciences under the portfolio investment scheme.

The company had earlier received approval from its Board and shareholders for hiking the limit of purchase of its equity shares and convertible debentures by FIIs/RFPIs, who can now buy these instruments through primary and secondary markets.

Jubilant Life Sciences is an integrated global Pharmaceutical and Life Sciences Company engaged in manufacture and supply of APIs, Solid Dosage Formulations, Specialty Pharmaceuticals and Life Science Ingredients. It also provides Services in Contract Manufacturing and Drug Discovery Solutions.
source : ventura

 

Kesoram Industries gets nod to raise Rs 650 crore

The board also approved disposal and transfer of the company’s Spun Pipe and the Heavy Chemicals undertakings both located in West Bengal
Kesoram Industries has received its board’s approval to raise around Rs 650 crore through issue of securities. The board also approved disposal and transfer of the company’s Spun Pipe and the Heavy Chemicals undertakings both located in West Bengal. Such disposal will be subject to receipt of such permissions and consents, if any, that may be required.

Further, the company’s board approved divestment of certain of its investments in listed companies at prevailing market prices for the purpose of enhancing cash inflows.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes. KIL is also listed on Societe de la Bourse de Luxembourg stock exchange.
source : ventura

 

Tomorrow (22.12.15) foll stocks will go ex bonus : Marico (Bonus Ratio 1:1)

 

Eicher Motors’ motorcycle division resumes normal operations at two plants in Chennai

Due to heavy rains and flooding in Chennai, Royal Enfield’s production facilities in Thiruvottiyur and Oragadam were shut between the December 1 and 6
Eicher Motors’ two wheeler division Royal Enfield has resumed normal operations at its manufacturing plants in Chennai, where production activity was impacted due to heavy rains. Royal Enfield produces popular bikes like Bullet, Classic, Thunderbird and Continental GT at the two plants. Due to heavy rains and flooding in Chennai, Royal Enfield’s production facilities in Thiruvottiyur and Oragadam were shut between the December 1 and 6.

Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.
source : ventura

 

@Dear Rama Murthy Sastri Challa,Thanks for your efforts and realy appreciate your efforts ,which are very helpful to all members.Please keep it up.

 

Thank You Very Much Kharb ji .....

 

Granules India’s facilities in Vizag and Jeedimetla completes US FDA inspection

There are no observations for Vizag facility and 3 observations for Jeedimetla facility
Granules India’s two facilities located in Vizag in Andhra Pradesh and Jeedimetla in Telangana have completed U.S. Food and Drug Administration (US FDA) inspection. There are no observations for Vizag facility and 3 observations for Jeedimetla facility. The Company will respond to the observations in 15 business days.

Granules India is a fast growing pharmaceutical manufacturing company with world class facilities and is committed to manufacturing excellence, quality and customer service. The Company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets.
source : ventura

 

IVRCL gets nod to carve out two companies

The company felt that the spinning off of EPC business would enable investment by potential equity investors.
IVRCL has received its board’s approval to split its engineering procurement construction (EPC) and assets - land and build-operate-transfer (BOT) - businesses - to float two separate companies. The company felt that the spinning off of EPC business would enable investment by potential equity investors.

Earlier on December 1, the company said that in the joint lenders forum (JLF) held on November 26, 2015, the lenders invoked strategic debt restructuring (SDR) in the company.

IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.
source : ventura

 

Avanti Feeds transfers Shrimp Processing Business to Avanti Frozen Foods

The company has transferred the business on a slump sale basis for a lump sum consideration of Rs 128 crore
Avanti Feeds has executed a Business Transfer Agreement (BTA) with Avanti Frozen Foods on December 18, 2015. The company had entered into BTA for transfer of the Shrimp Processing Business to Avanti Frozen Foods on a slump sale basis, to be effective from November 01, 2015 for a lump sum consideration of Rs 128 crore.

Avanti Feeds is engaged in processing shrimps and packing Pan Frozen as well as IQF. It exports shrimps to USA, Japan, Australia and UK etc.
source : ventura

 

NHPC resumes operations at its Sewa II power station

The company’s Sewa-ll Power Station (120 MW) had been completely shut down for attending annual maintenance of machines/MIVs for about 20 days
NHPC has resumed operations at its Sewa II power station in Jammu & Kashmir. Earlier, the company’s Sewa-ll Power Station (120 MW) had been completely shut down for attending annual maintenance of machines/MIVs for about 20 days with effect from December 07, 2015.

NHPC is an Indian Hydro Power Generation company that was incorporated with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects.
source : ventura

 

Glenmark Pharmaceuticals enters into settlement agreement with Forest Laboratories

The company will have the option to market and distribute its Milnacipran Hydrochloride tablets or an authorized generic version of Savella tablets
Glenmark Pharmaceuticals and Glenmark Pharmaceuticals Inc., USA, have entered into a Settlement Agreement with Forest Laboratories, LLC, Forest Laboratories Holdings, and Royalty Pharma Collection Trust to settle and dismiss the outstanding patent litigation related to Glenmark’s Abbreviated New Drug Application for Milnacipran Hydrochloride 12.5 milligram, 25 milligram, 50 milligram, and 100 milligram tablets, the generic version of Forest’s Savella.

Under the terms of the Settlement Agreement, Glenmark will have the option to market and distribute its Milnacipran Hydrochloride tablets or an authorized generic version of Savella tablets. According to IMS Health sales data for the 12 month period ending October 2015, Savella achieved annual sales of approximately $134.7 million.

Glenmark’s current portfolio consists of 103 products authorized for distribution in the US marketplace and 63 ANDA’s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
source : ventura

 

Kolte-Patil Developers gets nod for scheme of amalgamation of Jasmine Hospitality

The board of directors at their meeting held on December 21, 2015 has considered and approved for the same
Kolte-Patil Developers has received an approval for the scheme of amalgamation of Jasmine Hospitality, 100% wholly owned subsidiary of the company. The board of directors at their meeting held on December 21, 2015 has considered and approved for the same.

This merger is being planned in order to synergize the operational and business efficiencies of this company. The scheme of amalgamation is subject to necessary regulatory approvals.

Kolte-Patil Developers is a leading real estate company with dominant presence in the Pune residential market. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of over 12 million square feet across Pune and Bengaluru.
source : ventura

 

Ramkrishna Forgings commences production at its 12,500 ton Press Line

The company has started commercial production with effect from December 21, 2015
Ramkrishna Forgings has started commercial production at its 12,500 ton press line with effect from December 21, 2015. The 12,500 ton press line is located at Plant V, Saraikella, Kharswan in state of Jharkhand.

Ramkrishna Forgings undertakes turnkey development of forgings and stampings from raw samples. It also designs and develops special dies for customers. The company exports its products to Germany, USA, Mexico, Brazil, Bangladesh, Sri Lanka and Japan.
source : ventura

 

Allahabad Bank raises Rs 1,000 crore through private placement

The bank has raised funds through BASEL III compliant Tier 2 Bonds
Allahabad Bank has successfully raised BASEL III compliant Tier 2 Bonds aggregating to Rs 1,000.00 crore through Private Placement. The said Tier 2 Bonds are eligible for inclusion in Tier 2 Capital of Bank.

The bank has reported 25.21% rise in its net profit at Rs 177.1 crore for the quarter ended September 30, 2015 as compared to Rs 141.44 crore for the same quarter in the previous year. However, the bank’s total income has decreased by 1.84% to Rs 5317.06 crore for the quarter under review from Rs 5416.63 crore for the corresponding quarter of the previous year.

Gross non-performing assets (NPAs) of the bank have improved to 5.26% for the quarter as against 5.36% in the same quarter previous year. Besides, bank’s Net NPA stood at 3.61% in Q2FY16.
source : ventura

 

SBI gets nod to raise up to Rs 12,000 crore through private placement

The bank will raise funds by way of issue of Basel III compliant Tier II bonds
State Bank of India (SBI) has received an approval to raise up to Rs 12,000 crore by way of issue of Basel III compliant Tier II bonds, at par, through private placement, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at time of actual issuance. The committee of directors, duly authorized by the board, in their meeting held on December 21, 2015 has approved for the same.

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.
source : ventura

 

Adani Enterprises’ arm acquires 100% stake in DDPL

Adani Green Energy has acquired the stake in DDPL on December 21, 2015
Adani Enterprises’ subsidiary Adani Green Energy (AGEL) has acquired 100% equity shares of Duryodhana Developers (DDPL) on December 21, 2015.

Adani Enterprises is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.
source : ventura

 

NBCC inks MoU with AIIMS to develop Apex Trauma Centre

The project is planned for 2,250 patient beds and shall be developed on a land parcel of 15 acres within a period of 4 years
National Buildings Construction Corporation (NBCC) has inked a Memorandum of Understanding (MoU) with All India Institute of Medical Sciences (AIIMS) to develop a Rs 3,000 crore Jai Prakash Narayan (JPN) Apex Trauma Centre Ph-II at AIIMS, New Delhi. The project is planned for 2,250 patient beds and shall be developed on a land parcel of 15 acres within a period of 4 years. The MoU to this effect has been entered on December 21, 2015.

NBCC is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
source : ventura

 

JSPL to resume mining at Australian coal mines

WLC was shut for maintenance in August but it now needs government approvals to restart mining
Jindal Steel and Power (JSPL) is planning to restart mining coal from two of its stalled projects in Australia as it expects to get regulatory clearances from Canberra soon.

The company holds majority stakes in Wollongong Coal (WLC), which used to operate Russell Vale Colliery and Wongawilli Colliery in the Southern Coalfields Region of New South Wales. WLC had to suspend operations at its Russell Vale Colliery in September because of regulatory issues. WLC was shut for maintenance in August but it now needs government approvals to restart mining.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
source : ventura

 

Diamond Power bags order worth Rs 44 crore

The order is for supply of Conductors for 765 kV S/C (Quad Bersimic) Salem - Madhugiri Transmission Line
Diamond Power Infrastructure has received order worth Rs 44 crore from Powergrid NM Transmission for supply of Conductors for 765 kV S/C (Quad Bersimic) Salem - Madhugiri Transmission Line associated with Nagapattinam Project under TBCB route.

Recently, the company received an order for supply of 11 KV, 3 CX185 & 3CX120 HT XLPE Insulated Armoured Shielded PVC sheathed Power Cable from Jaipur Vidyut Vitran Nigam, vide award no JPD/SE (PROC)/SPO-I/TN -4522/D.3671.

Diamond Power Infrastructure is engaged in five business verticals--cables (low, high and extra high voltage), conductors, transformers, towers and various EPC projects-- where it undertakes planning, designing and commissioning of turnkey transmission and distribution projects.
source : ventura