LATEST BUSINESS NEWS

Suven Life Sciences secures three new product patents

The company has a total of 21 granted patents from Canada, 2 granted product patents from ARIPO and 19 granted patents from South Korea
Suven Life Sciences has secured three product patents; one product patent from Canada, one product patent from ARIPO (AP 3307) and one product patent from South Korea 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, the company has a total of 21 granted patents from Canada, 2 granted product patents from ARIPO and 19 granted patents from South Korea. 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.

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.
source:ventura

 

Nse PETRONET 5.28 lacs @ 256 value 13.53 crs (Bulk /Block Deal)

 

Nse LUPIN 1.01 lacs @ 1800 value 18.23 crs(Bulk /Block Deal)

 

Nse TATAMTRDVR 5 lacs @ 281.60 value 14.17 crs (Bulk /Block Deal)

 

RBI imposes Rs 1 crore penalty on State Bank of Travancore

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction entered into by the bank and its customers
Reserve Bank of India (RBI) has imposed monetary penalty of Rs 1 crore on State Bank of Travancore for violation of its instructions, inter alia, on reporting of data to Central Repository of Information on Large Credits (CRILC). This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank and its customers.

Earlier, the central bank had issued a Show Cause Notice to the bank for not having complied with the directions issued by the Bank on submission of accurate data to the CRILC. After considering the bank’s reply, as also, personal submissions, information submitted and documents furnished, the Reserve Bank came to the conclusion that the bank had violated the instructions/guidelines issued, from time to time, which warranted imposition of monetary penalty on it.

State Bank of Travancore (SBT) was incorporated in 1945 as Travancore Bank sponsored by the erstwhile princely state of Travancore. Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it has been made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India.
source:ventura

 

IFCI gets nod to divest its entire stake in ACRE

It has also received approval for partial disinvestment of its equity shareholding in SHCIL
IFCI has received an approval for disinvestment of its entire stake in Assets Care and Reconstruction Enterprise (ACRE). The board of directors at its meeting held on January 04, 2016 has approved for the following.

The board has also approved the partial disinvestment of equity shareholding of company in Stock Holding Corporation of India (SHCIL).

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
source:ventura

 

Speciality Restaurants closes ‘Mainland China’ restaurant in Pune

The total number of restaurants and confectionaries of the company are 102 (including 23 franchise restaurants) and 19 respectively
Speciality Restaurants has closed ‘Mainland China’ restaurant located at Survey No. 20/6/3, Hinjewadi Main Road,Mulshi, Near Hotel Courtyard Marriott, Hinjewadi,Pune 411057 with effect from January 04, 2016. Accordingly, as of the date of this letter, the total number of restaurants and confectionaries of the company are 102 (including 23 franchise restaurants) and 19 respectively.

Speciality Restaurants focuses on providing the guests an affordable fine dining experience with quality food and service in a modern ambience. The company’s restaurants consist of different restaurant concepts and are located across India, particularly in the western region. Its flagship brand is Mainland China which serves Chinese cuisine in a standalone fine dining setting.
source:ventura

 

Texmaco Rail & Engineering acquires 55% stake in Bright Power

Bright Power is an EPC company specializing in OHE solutions for the Railways
Texmaco Rail & Engineering has entered into definitive agreement and acquired 55% shareholding in Bright Power Projects (India). Pursuant to such acquisition, Bright Power has become a subsidiary of the company with effect from January 04, 2016. With this, the company has strengthened its position further as a total rail solutions provider and is well positioned to leverage on growth opportunities in Railways Infrastructure in coming years.

Bright Power is an EPC company, incorporated on January 10, 1994, specializing in over head electrification (OHE) solutions for the Railways. Bright Power had a net turnover of Rs 78 crore and a Net Profit of Rs 6 crore for the financial year 2014 - 15. It has a current order book of about Rs 600 crore.

Texmaco Rail & Engineering is one of India’s leading freight car manufacturers and diversified engineering company. The company is the largest supplier of wagons to the Indian Railways in India with strong in-house capabilities for the design and manufacture of special purpose wagons.
source:ventura

 

Tomorrow (06.01.16) foll stocks will go ex split : Greenply Ind (Sub division ratio 5:1)

 

ICICI Bank picks 0.74% stake in United Breweries

The bank has bought 19.58 lakh shares in local beer giant valuing the transaction at Rs 186.03 crore
ICICI Bank has bought 19.58 lakh shares in local beer giant United Breweries (UB) at Rs 950.10, representing 0.74% stake in the company valuing the transaction at Rs 186.03 crore at a bulk deal data on the National Stock Exchange (NSE) on January 06, 2016.

United Breweries is maker of Kingfisher beer and Heineken beer in India. Its flagship brand 'Kingfisher' is currently available in 52 countries and leads the way amongst Indian beers in the International market.
source:ventura

 

Bajaj Auto plans to enter twelve new export markets

The company wants to maintain its leadership in the export market by expanding into newer markets
Bajaj Auto, one of the leading two wheeler makers in India, is planning to enter 12 new export markets by end of March 2016. The company has reported a decline in exports volume in the last few months because of political and economic uncertainties in some of its export markets, particularly in oil-producing emerging markets.

The company’s total exports out of the total sales stood at 1,45,477 units, a drop of 12% as compared to 166,134 units sold in the corresponding month last year. The company wants to maintain its leadership in the export market by expanding into newer markets. The company is executing an aggressive expansion plan to get into newer countries.

Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
source:ventura

 

Tata Motors, Petronas launch oil for passenger vehicles range

TMGO will be the first range of co-branded lubricants jointly developed by the two companies
Tata Motors in association with Petronas Lubricants International have unveiled Tata Motors Genuine Oil (TMGO) for its passenger vehicles range in India. TMGO will be the first range of co-branded lubricants jointly developed by the two companies.

The co-branded range of lubricants -- Tata Motors Genuine Oil CH-4 15W-40 for diesel vehicles and Tata Motors Genuine Gear Oil 80EP for passenger cars -- makes part of a bigger range of nine co-branded products that will be rolled out in a phased approach.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
source:ventura

 

Global Indices

https://www.moneycontrol.com/markets/global-indices/

 

NBCC bags order worth Rs 294.78 crore from IIT, Mandi

The order is for construction of Academic Building, Guest House, Gymnasium, Hospital and Auditorium
National Buildings Construction Corporation (NBCC) has been awarded construction work worth Rs 294.78 crore from Indian Institute of Technology (IIT), Mandi. The order is for construction of Academic Building, Guest House, Gymnasium, Hospital and Auditorium at IIT, Mandi Campus.

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

 

Kalpataru Power acquires Alipurduar Transmission

The said SPV was incorporated in April, 2015 by RECTPCL to establish Transmission system strengthening in Indian System
Kalpataru Power Transmission has acquired 100% equity share capital of an SPV Company Alipurduar Transmission (ATL), a wholly owned subsidiary of REC Transmission Projects Company (RECTPCL).

The said SPV was incorporated in April, 2015 by RECTPCL to establish Transmission system strengthening in Indian System for transfer of power from new HEP’s in Bhutan on BOOM basis and the company has acquired it from RECTPCL pursuant to competitive bidding process carried out by RECTPCL.

Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission and distribution, oil and gas pipeline, infrastructure development, civil contracting and warehousing and logistics business with a strong international presence in power transmission and distribution.
source:ventura

 

BHEL commissions two 220/20kV substations in Afghanistan

The substations are part of the 220 kV Phul e Khumri-Kabul transmission system and will provide power to Charikar and Doshi sites and their neighbouring areas
Bharat Heavy Electricals (BHEL) has commissioned two 220/20kV substations in Afghanistan. The project has been executed by BHEL on EPC basis. The substations have been commissioned at Charikar, around 60 kms from Kabul and Doshi, around 150 kms from Kabul. Both the substations are part of the 220 kV Phul e Khumri-Kabul transmission system and will provide power to Charikar and Doshi sites and their neighbouring areas.

The company has recently achieved another milestone by successfully commissioning the first 600 MW coal-based thermal power plant in the state of Telangana. Significantly, the unit, commissioned at Kakatiya Thermal Power Project (TPP) at Chelpur in Warangal District of Telangana, is the highest rating unit in the state.

BHEL is the market leader of power equipment in the Indian Power Sector. BHEL’s formidable strength of an installed base of over 150,000 MW of power plant equipment coupled with its vast experience makes it an ideal choice of utilities in the country.
source:ventura

 

Glenmark discovers IND-enabling studies of a novel bi-specific monoclonal antibody targeting CD38

GBR 1342 is a CD38xCD3 bi-specific antibody based on Glenmark’s proprietary BEAT platform
Glenmark Pharmaceuticals S.A. (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals (GPL), has discovered and initiation of IND-enabling studies for a novel clinical development candidate, GBR 1342. GBR 1342 is a CD38xCD3 bi-specific antibody based on Glenmark’s proprietary BEAT platform. GBR 1342 is the second clinical development candidate (following GBR 1302 a HER2xCD3 bi-specific antibody) based on the BEAT technology. It is also Glenmark’s second clinical candidate targeting oncology indications.

CD38 is one of the few known markers for plasma cells and is a well-established target for multiple myeloma, a cancer caused by malignant plasma cells. CD38 is potentially also a target for other hematopoietic malignancies. GBR 1342’s mode of action is similar to GBR 1302, Glenmark’s first CD3 redirecting antibody. GBR 1342 redirects cytotoxic T cells through its CD3 binding arm onto CD38-expressing cancer cells and induces the killing of these cancer cells by the T cells. Glenmark is committed to moving GBR 1342 rapidly into clinical trials.

Glenmark Pharmaceuticals (GPL) is a research-driven, global, integrated pharmaceutical company headquartered in Mumbai, India. It is ranked among the top 80 Pharma & Biotech companies in the world in terms of revenues. Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity).
source:ventura

 

M&M plans to roll out two more passenger cars/utility vehicles in FY16

The company launched premium pickup Imperio, its eighth product to be rolled out during this financial year
Mahindra & Mahindra (M&M) is planning to roll out two more passenger cars/utility vehicles this financial year, thereby completing the planned launch of 10 vehicles during 2015-16. While the first one will be KUV 100 to be launched on January 15, it will be followed by the launch of new Quanto. While the KUV 100 will come packed with a petrol engine option as well, which will help M&M make its debut with a petrol engine vehicle, the Quanto will be upgraded.

Recently, the company launched premium pickup Imperio, its eighth product to be rolled out during this financial year. Available in four variants (two single-cabin options and two double-cabin options) and in three colours, Imperio's prices range from Rs 6.71 lakh to Rs 7.35 lakh (ex-showroom, Warangal in Telangana).

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
source:ventura

 

Deepak Nitrite raises Rs 83.30 crore through private placement

The project funding committee of board of directors of the company at its meeting has approved the allotment of 1.17 crore shares of Rs 2 each at Rs 70.90 apiece
Deepak Nitrite has raised Rs 83.30 crore from institutional investors through private placement of shares. The project funding committee of board of directors of the company at its meeting has approved the allotment of 1,17,50,000 shares of Rs 2 each at Rs 70.90 apiece.

Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals and a world leader in 2,4 and 2,6 Xylidine.
source:ventura

 

Nse HCLTECH 3.04 lacs @ 823 value 25.02 crs (Bulk / Block Deal)