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Today (21.01.16) Q3 results :

Deepak Fert, VST Ind, Uttam Value Steel, Reliance Capital, Syngene, Siticable, Jindal Drilling, Omax Auto, Raymond, M&M Financial,Idea Cellular, IBRealest, International Paper, Interglobe Aviation, Foseco, Essel Propack, Eimco Elecon, Hatsun Agro, Hindustan Zinc, HFCL, Heritage Foods, GSFC, Exide Ind, Biocon, Binani Ind, Alembic Pharma, Agrotech Foods, Chambal Fert

 

MMTC divests its 10% equity stake in ICEX for Rs 20 crore

With this the company has a stake of 16% in ICEX as on date
MMTC has divested its 10% equity stake in its Joint Venture Company (JVC) - Indian Commodity Exchange (ICEX) amounting to Rs 10 crore face value at a sum of Rs 20 crore to the two bidders who participated in the Global Tender Process floated by the company earlier. With this the company has a stake of 16% in ICEX as on date.

The company has taken this step pursuant to approval of the board/government. The necessary transfer of shares to the bidders took place on January 19, 2016.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.
source : ventura

 

ICICI Bank opens its first full service branch in South Africa

It is the first Indian private sector bank to open a branch in the African continent
ICICI Bank has inaugurated its first full service branch at Sandton at Johannesburg in South Africa. It is the first Indian private sector bank to open a branch in the African continent. The Johannesburg branch is an authorized financial services provider in South Africa licensed by the South African Reserve Bank.

To begin with, the Johannesburg branch will undertake banking activities only for corporates. It will provide financial assistance to Indian joint ventures and subsidiaries across Africa, offer trade finance and short term funding for companies having trade links with India.

ICICI Bank had consolidated total assets of $132.17 billion at March 31, 2015. The bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 17 countries, including India.
source : ventura

 

Mahindra & Mahindra’s step-down arm hikes stake in SGA to 100%

SGA has became wholly owned subsidiary of HCR and in turn of the company with effect from January 19, 2016
Mahindra & Mahindra’s (M&M) Holiday Club Resorts Oy, has increased its stake in Saimaa Gardens Arena Oy, Finland, (SGA), from 24% to 100%. Consequently, SGA has became wholly owned subsidiary of HCR and in turn of the company with effect from January 19, 2016.

Holiday Club Resorts Oy (HCR) is step-down subsidiary of Mahindra Holidays & Resorts India (MHRIL) which in turn is subsidiary of M&M.

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

 

UNO Metals sells 72 lakh shares of Subex

The shares were sold on an average price of Rs 8.85 valuing the transaction to Rs 6.37 crore
UNO Metals has sold 72 lakh shares of Subex through the open market route. The shares were sold on an average price of Rs 8.85 valuing the transaction to Rs 6.37 crore.

Subex is a leading global provider of Business Support Systems (BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
source : ventura

 

Nse ADANIPORT 23.03 lacs @ 221 value 50.89 crs (Bulk /Block Deals)

 

Indiabulls Housing Finance reports 26% rise in Q3 consolidated net profit

Total income surged 24.43% to Rs 2307.72 crore in the quarter under review
Indiabulls Housing Finance has reported results for third quarter ended December 31, 2015.

The company has registered 28.53% rise in its net profit at Rs 608.35 crore for the quarter under review, as compared to Rs 473.32 crore for the same quarter in the previous year. Total income of the company has increased 22.75% at Rs 2220.52 crore for Q3FY16 as compared Rs 1809.00 crore for the corresponding quarter previous year.

On the consolidated basis, the company’s net profit rose 26.01% to Rs 602.42 crore for the Q3 FY16 as compared to Rs 478.08 crore in Q3 FY15. Moreover, the total income surged 24.43% to Rs 2307.72 crore in the quarter under review as compared to Rs 1854.64 crore in the corresponding quarter previous year.
source : ventura

 

Tata Steel signs agreement with Quebec government

The company has signed an agreement to develop iron ore deposits in the Canadian province, a move that can help the steelmaker reduce its raw material costs
Tata Steel has signed an in-principle agreement with the Quebec government to develop iron ore deposits in the Canadian province, a move that can help the steelmaker reduce its raw material costs. Both the parties will also work on developing the transit for iron ore, a key raw material used in making steel, from Arnaud Junction to the multi-user dock of the Port of Sept-Iles.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
source : ventura

 

Natco Pharma sings agreement with MPP and Bristol-Myers Squibb for Daclatasvir

Daclatasvir is the first-in-class NS5A inhibitor used in combination with Sofosbuvir for the treatment of patients with chronic hepatitis C virus (HCV) genotype 3 infection
Natco Pharma has signed a nonexclusive, royalty free licensing agreement with the Medicines Patent Pool (MPP) and Bristol-Myers Squibb to manufacture and sell generic versions of Bristol-Myers Squibb’s chronic hepatitis C medicine – Daclatasvir Dihydrochloride (Daclatasvir).

Daclatasvir, discovered and developed by Bristol-Myer Squibb, is the first-in-class NS5A inhibitor used in combination with Sofosbuvir for the treatment of patients with chronic hepatitis C virus (HCV) genotype 3 infection. Compared to other treatment options, this combination not only increases the cure rate, but is also regarded as a valuable treatment option in some of the difficult-to-treat HCV patient subsets. The company will market generic Daclatasvir under its own brand NATDAC, and through its strategic partners in India.

This agreement allows the company to expand access to these chronic hepatitis C medicines in 112 developing countries. Under the license, Natco can set its own price for the generic products it produces.

Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
source : ventura

 

Nse HDFC 1.11 lacs @ 1130.5 value 12.58 crs (Bulk /Block Deals)

 

Glenmark receives ANDA approval for Norethindrone Acetate, Ethinyl Estradiol Tablets

The company has been granted final approval for generic version of Loestrin 21 1/20 Tablets
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Norethindrone Acetate and Ethinyl Estradiol Tablets USP, 1 mg/0.02 mg, the generic version of Loestrin 21 1/20 Tablets of Warner Chilcott Company, LLC.

According to IMS Health sales data for the 12 month period ending November 2015, the Loestrin 21 1/20 Tablets market achieved annual sales of approximately $56.8 million.

Glenmark’s current portfolio consists of 106 products authorized for distribution in the US marketplace and 62 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

 

Nse TCS 1.31 lacs @ 2255 value 29.62 crs (Bulk /Block Deals)

 

Tech Mahindra enters into partnership with WSJ Custom Studio

The two organizations will develop content on thought leadership issues that will challenge CEOs, CIOs and businesses on the state of increasingly connected world
Tech Mahindra, a leading provider of IT, Networks & Engineering solutions and BPO services and WSJ Custom Studios, the content marketing division of The Wall Street Journal's advertising department, have entered into a three-year partnership in which the two organizations will develop content on thought leadership issues that will challenge CEOs, CIOs and businesses on the state of increasingly connected world. Called in the future, the multi-media custom-content program will challenge conventional thinking, drive conversation and illustrate the potential benefits of growing connectivity through information and entertainment across print and digital media, tablet and mobile, video, graphic solutions, social media and events.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.
source : ventura

 

HFCL Q3 PAT Rs.70cr vs Rs.42cr yoy, vs Rs.72cr qoq

 

M&M FINANCE Q3 cons PAT Rs.96cr vs Rs.157cr yoy, vs Rs.157cr qoq

 

CHAMBAL FERT Q3 loss Rs.163cr (incl exc loss Rs.296cr) vs PAT of Rs.145cr yoy, vs PAT of Rs.137cr (incl extra income of Rs.38cr) qoq

 

Today (22.01.16) Q3 results :

Ashoka Buildcon, Vardhaman Special, Supreme Petro, TFCI, Shemaroo Ent, Sarla Performance, L&T Finance, Kesoram Ind, Onward Tech, Reliance Com, MHRIL, Lumax Auto Tech, Lakshmi Vilas Bank, ITC, Geojit BNP, Greenlam Ind, Atul, Coromandel Int, DB Corp, Cairn India, Canfin Home

 

Siemens wins order worth Rs 112 crore from RRVPNL

The scope of work for the project involves engineering, supply, Installation, testing and commissioning of 400 kv /220kV Air Insulated Substations
Siemens has won a crucial order approximately worth Rs 112 crore from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL), a State Power Transmission Utility owned by Government of Rajasthan and headquartered in Jaipur.

The scope of work for the project involves engineering, supply, Installation, testing and commissioning of 400 kv /220kV Air Insulated Substations.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization. It is one of the leading producers of energy-efficient, resource-saving technologies; combined cycle turbines for power generation; and power transmission solutions.
source : ventura

 

ONGC’s arm inks MoU with Equatorial Guinea

The MoU provides the basis for a comprehensive cooperation in multiple areas of the energy sector, including offshore oil and gas exploration in Equatorial Guinea
Oil and Natural Gas Corporation’s (ONGC) overseas arm -- ONGC Videsh (OVL) has signed a memorandum of understanding (MoU) with the Republic of Equatorial Guinea to cooperate in the hydrocarbon sector in the African country. The MoU provides the basis for a comprehensive cooperation in multiple areas of the energy sector, including offshore oil and gas exploration in Equatorial Guinea plus midstream and downstream projects. The MoU is considered the foundation for future discussions that will take place in the coming weeks between the both parties to reach further agreements.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about USD 31 billion. The Indian government holds a 68.94% stake in ONGC.
source : ventura