LATEST BUSINESS NEWS

Gayatri Projects to consider corporate restructuring of its road assets

The company’s management is in the process of finalizing a few options for corporate restructuring of its road assets
Gayatri Projects is planning to consider the corporate restructuring of its road assets, which may mean hiving of its roads business as a separate entity. In this regard, the company’s management is in the process of finalizing a few options for corporate restructuring of its road assets, which among other things may involve hiving off the entire road asset business as a separate entity.

The company is in the process of ascertaining the availability of directors to convene a meeting in due course to chart out future plans.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.
source:ventura

 

TTML’s total subscribers stood at 10,512,363 in December 2015

The Wireline contributed 809,266, FWT 699,617 and Mobile 9,003,480 subscribers
Tata Teleservices (Maharashtra) (TTML) has reported the subscriber figures as on December 31, 2015. The company’s total subscribers stood at 10,512,363 of which Wireline contributed 809,266, FWT 699,617 and Mobile 9,003,480 subscribers.

In Mumbai service area, the company’s total subscribers stood at 38,90,419 of which Wireline contributed 5,28,854, FWT 5,464 and Mobile 33,56,101 subscribers while in Rest of Maharashtra, the company’s total subscribers stood at 66,21,944 of which Wireline contributed 2,80,412, FWT 6,94,153 and Mobile 56,47,379 subscribers.

Tata Teleservices Maharashtra is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.
source:ventura

 

Nse INFY 1 lac @ 1049.60 value 10.50 crs (Block /Bulk Deal)

 

Indian Bank plans to raise Rs 1,100 crore

The bank is proposing to seek approval of its board in ensuing board meeting
Indian Bank is planning to raise about Rs 1,100 crore to raise Basel III complaint Tier II Bonds. In this regard, the bank is proposing to seek approval of its board in ensuing board meeting.

The meeting is to be held on January 19, 2016 to permit the bank to raise Basel III compliant Tier II Bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement.
source:ventura

 

Andhra Pradesh relaxes norms for retail sector
New policy allows more flexibility in employing part-time workers



The Andhra Pradesh government has unveiled a new retail trade policy, under which retail enterprises are given greater flexibility in terms of open hours, engaging part-time employees, and removal of stock limits for essential commodities, among others. Touted to be the first-of-its-kind policy in the country to have attempted by any state, the policy also offers various incentives and the ease of doing business applicable to other sectors.

Under the policy, unveiled by Chief Minister N Chandrababu Naidu on the sidelines of the Confederation of Indian Industry Partnership Summit here, retail enterprises can stay open seven days a week from 6 am to 11 pm. They can also employ people on an hourly basis, but the number of workers should not exceed 25 per cent of the total employees of the firm. Retail chains will now be allowed to generate customer bills in an electronic form instead of giving them the physical bills.

The distribution centres and warehouses of the retail enterprises are not only allowed to function on a 24/7 basis, they are also declared ‘public utility’ under the Industrial Disputes Act, 1947, to prevent strikes.

The state government, through its nodal agency Andhra Pradesh Industrial Infrastructure Corporation, will allot land to set up the distribution centres as well as warehouses under the commercial category for a period of 33 years.

While the government extends the existing single desk policy of approvals for all retail enterprises irrespective of their size, the policy has provided tailor-made incentives for mega retail enterprises, which are defined as the projects that come with an investment of at least Rs 100 crore or those that can give a direct employment to 2,000 people.

Andhra Pradesh constitutes eight per cent of the total estimated retail market of 13 million stores. The policy seeks to attract Rs 5,000 crore investments in the retail sector by 2020.

Meanwhile, four leading retail chains — Walmart, Future Group, Spencer’s and Arvind — have signed MoUs to invest Rs 1,500 crore in Andhra Pradesh with a total commitment to provide 25,000 new jobs in the retail space.

Besides, K Raheja Corporation group president Neel Raheja announced the group had identified four cities to establish new shopping malls.

Walmart India president and chief executive Krish Iyer said the company would establish 15 new stores in the state, apart from setting up a centre for sourcing agriculture products from small and marginal farmers.

• The policy seeks to attract Rs 5,000 crore-investment in the retail sector by 2020
  
• It offers various incentives and the ease of doing business applicable to other sectors
  
• Retail enterprises can stay open seven days a week from 6 am to 11 pm
  
• People can be employed on an hourly basis
  
• The number of workers should not exceed 25 per cent of the total employees of the firm

source : business-standard

 

Tata Motors’ Group global wholesales stood at 91,762 units in December 2015

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in December 2015 were 32,475 units, higher by 6%, compared to December 2014
Tata Motors Group global wholesales in December 2015, including Jaguar Land Rover, were at 91,762 units, higher by 7%, over December 2014. Cumulative wholesales for this fiscal were at 754,307 units, higher by 6% over the last fiscal. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in December 2015 were 32,475 units, higher by 6%, compared to December 2014. Cumulative commercial vehicles wholesales for this fiscal declined by 1% over the last fiscal at 273,485 units.

Furthermore, Global wholesales of all passenger vehicles in December 2015 were at 59,287 units, higher by 8%, compared to December 2014. Cumulative passenger vehicles wholesales for this fiscal at 480,822 nos., was higher by 10%, over the last fiscal. Global wholesales of Tata Motors’ passenger vehicles in December 2015 were at 8,371 units, lower by 32%, over December 2014. Cumulative wholesales for the fiscal were at 98,159 units, higher by 4%, compared to the last fiscal.

Global wholesales for Jaguar Land Rover were 50,972 vehicles (Includes CJLR wholesales). Jaguar wholesales for the month were 8,784 vehicles and cumulative wholesales were 69,913 vehicles, while Land Rover wholesales for the month were 42,188 vehicles and cumulative wholesales were 3,11,745 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 3,81,658 vehicles.

Tata Motors is India’s largest automobile company, with consolidated revenues of Rs 2,62,796 crore (USD 42.04 billion) in 2014-15. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia.
source:ventura

 

Nse RELIANCE 1.01 lacs @ 1060 value 10.72 crs (Block /Bulk Deal)

 

L&T’s construction arm bags orders worth Rs 1247 crore

Under Power Transmission & Distribution Business, it has bagged an international order worth Rs 258 crore
Larsen & Toubro’s (L&T) construction arm -- L&T Constructions has won orders worth Rs 1247 crore across various businesses. Under Buildings & Factories Business, the company has secured a prestigious turnkey order worth Rs 989 crore from a global Information Technology major for the construction of its world class IT Park in Bengaluru. The scope of work includes civil, structural, mechanical, electrical, plumbing, high-end finishes, data centre and other associated works. The project is scheduled to be completed in 30 months.

Under Power Transmission & Distribution Business, it has bagged an international order worth Rs 258 crore. Larsen & Toubro (Oman) LLC, a subsidiary of the company, has bagged an order valued OMR 16.026 Million from Oman Electricity Transmission Company (OETC) for the construction of new 132kV Grid Stations at Dil Abdusalam (DAS) and Suwaiq on an engineering, construction and procurement basis.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 15 billion in revenue. It operates in over 30 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over seven decades.
source:ventura

 

INDUSIND BANK Q3 PAT Rs.581cr vs Rs.447cr yoy, vs Rs.560cr qoq

 

FEDERAL BANK Q3 PAT Rs.163cr vs Rs.265cr yoy, vs Rs.161cr qoq

 

Nse PIDILITIND 2.90 lacs @ 552 value 16.01 crs (Bulk / Block Deal)

 

Nse WHIRLPOOL 6.15 lacs @ 650 value 39.97 crs (Bulk / Block Deal)

 

Deep Industries bags order worth Rs 7.26 crore

It has received Notification of Award for Hiring of Natural Gas Compression Services at CTF Ankleshwar for a capacity of 1 LSCMD and period of one year
Deep Industries has received Notification of Award for Hiring of Natural Gas Compression Services at CTF Ankleshwar for a capacity of 1 LSCMD and period of one year. The total value of said award is of Rs 7.26 crore.

Deep Industries is primarily caters to ever increasing demand for Oil and Gas Field Services requirements. The company is well diversified Oil & Gas Company with business interest in Air and Gas compression, Drilling, Work over and Oil & Gas Exploration and Production.
source:ventura

 

IndusInd Bank partners with PayU India

The partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems
IndusInd Bank has partnered with PayU India to redefine the digital experience for Indian customers by bringing the full suite of banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. The partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems. It will help bring the full suite of consumer banking products online.

The bank reported a rise of 29.93% in its net profit at Rs 581.02 crore for the quarter under review as compared to Rs 447.19 crore for the same quarter in the previous year. Total income of the bank increased by 22.06% at Rs 3766.70 crore for Q3FY16 as compared Rs 3085.95 crore for the corresponding quarter previous year.
source:ventura

 

Sharon Bio-Medicine to shut-down its subsidiary company

The board of directors at its meeting held on January 12, 2016, has discussed and taken the note of it
Sharon Bio-Medicine has received an approval for closure of the subsidiary company ‘Yusur International FZE’. The board of directors at its meeting held on January 12, 2016, has discussed and taken the note of it.

Sharon Bio-Medicine is into manufacturing and supply of Active Pharmaceutical Ingredients (APIs).
source:ventura

 

Crompton Greaves bags contract from Energinet.dk

The order is to provide power transformers and GIS for the Kriegers Flak wind farm project in the Baltic Sea
Avantha Group Company Crompton Greaves (CG) has been awarded a contract from Denmark’s national electricity transmission system operator Energinet.dk to provide power transformers and Gas Insulated Switchgear (GIS) for the Kriegers Flak wind farm project in the Baltic Sea.

The order consists of two onshore 500 MVA 410/235kV autotransformers (frame contract); four 220 MVA 32/225kV offshore platform substation transformers; and nine bays 220kV Gas Insulated Switchgear for the offshore platform substations. CG’s equipment will maintain the overall short-term and long-term security of electricity supply from the wind farm

Kriegers Flak will be Denmark’s largest offshore wind farm project and is to be developed in close partnership with their regional neighbours Sweden and Germany. The planned 600 MW offshore wind farm will act like a ‘Supergrid’, transmitting renewable energy through power grids to all three countries. It will be built in the waters between Møn, Denmark, southern Sweden and north Germany and its 130 wind turbines will produce around 2.1 TWh of electricity.

The wind farm is planned to go into operation sometime between 2018 and 2020. It will help to more than double Denmark’s wind power energy capacity to 42% and provide electricity to over 600,000 homes in the three countries.

CG was chosen on account of its economical & technical best evaluated bid. This is another successful track record in providing transformers and GIS to the offshore industry. The company’s proven technology is already being used in other offshore platforms such as Belwind, Anholt, Butendiek, Humber Gateway, Luchterduinen, Northwind, Amrumbank and Gemini.
source:ventura

 

Piramal Enterprises sells BST-CarGel to Smith & Nephew

BST-CarGel is a first-line cartilage repair product used along with microfracture
Piramal Enterprises has sold BST-CarGel from Piramal Healthcare (Canada), based in Montreal, Canada to Smith & Nephew, the global medical technology business. BST-CarGel is a first-line cartilage repair product used along with microfracture and other bone marrow stimulation techniques for the initial treatment of most sizes of focal cartilage tears. Through this transaction, an affiliate of Smith & Nephew plc will acquire ownership of all product and intellectual property assets related to BST-CarGel.

Piramal Enterprises is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.
source:ventura

 

Vijaya Bank to raise Basel III Compliant Tier -II Bonds amounting Rs 500 crore

The bank has received ratings of ‘AA+ (hyb)’ with stable outlook by ICRA and ‘AA+’ by CARE for the proposed issue of the said bonds
Vijaya Bank has decided to raise Basel III Compliant Tier -II Bonds amounting to Rs 500 crore by way of private placement. The bank has received ratings of ‘AA+ (hyb)’ with stable outlook by ICRA and ‘AA+’ by CARE for the proposed issue of the said bonds.

Vijaya Bank offers various products and services specific to various segments such as it has saving accounts for children, scheme for women clientele, credit facilities to minority communities like Zoroastrians, Buddhists are among others.
source:ventura

 

UltraTech Cement plans to acquire controlling stake in ARM Cement

ARM announced on December 23 that it is in talks with an unidentified institutional investor about a $125 million investment
UltraTech Cement is reportedly planning to acquire controlling stake in ARM Cement of Kenya. ARM announced on December 23 that it is in talks with an unidentified institutional investor about a $125 million investment.

Earlier, UltraTech Cement, Dalmia Bharat backed by private equity investor KKR and Shree Cement were among prospects approached to take over the Jaypee Group’s cement business.
source:ventura

 

GMR Hyderabad International Airport commissions 5 MW Solar Power Plant

The company has commissioned it for its captive consumption at Rajiv Gandhi International Airport, Hyderabad
GMR Hyderabad International Airport (GHIAL) has commissioned a 5 MW Solar Power Plant for its captive consumption at Rajiv Gandhi International Airport (RGIA), Hyderabad. Situated close to the airport access road, the solar power plant has started generating around 25,000 units per day of pollution free energy and meeting the airport’s peak power demand during day-time.

The solar power plant has over 16,000 modules of solar panels, each having a fixed tilt for maximum sun exposure. The green energy, thus produced by this 5 MW solar plant, is equivalent to meeting daily electricity requirement for about 4,800 homes.

GMR Hyderabad International Airport is a joint venture company promoted by the GMR Group (63%) in partnership with Government of India (13%), Government of Telangana (13%) and Malaysia Airports Holdings Berhad (11%).
source:ventura