LATEST BUSINESS NEWS

NBCC bags order worth Rs 2,149 crore from ITPO

The order is for re-development of Pragati Maidan, New Delhi involving construction of Integrated Exhibition cum Convention Centre
National Buildings Construction Corporation (NBCC) has bagged work order from ITPO for re-development of Pragati Maidan, New Delhi for an estimated cost of Rs 2149.00 crore. India Trade Promotion Organization (ITPO), Department of Commerce, Government of India, awarded the work of re-development of Pragati Maidan, New Delhi involving construction of Integrated Exhibition cum Convention Centre (IECC) to the company.

The project entails the total development of 3,26,065 square meter of built up area including of 1,19,445 square meter of exhibition space and Convention Centre facility of 7,000 pax seating facility in single format (with a plenary hall of at least 3,000 pax capacity, functional hall of 4,000 pax) and in addition various appurtenant facilities like meeting halls, lounges, services and parking space for about 4,800 passenger car units (PCU) in Phase-I.

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

 

Container Corporation of India reports 32% fall in Q3 net profit

The company’s total income has decreased by 3.33% to Rs 1485.86 crore for the quarter under review
Container Corporation of India has reported results for third quarter ended December 31, 2015.

The company has reported 31.54% fall in its net profit at Rs 206.12 crore for the quarter ended December 31, 2015 as compared to Rs 301.08 crore for the same quarter in the previous year. The company’s total income has decreased by 3.33% to Rs 1485.86 crore for the quarter under review from Rs 1537.01 crore for the corresponding quarter of the previous year.

Container Corporation of India was established in 1988 and works mainly in three verticals -- cargo terminal, terminal operator and warehouse operator.
source : ventura

 

Eros International lines up over 65 films across multiple languages for the year

The company also plans to have movies in regional languages including Marathi, Bengali, Tamil, Telugu, Malayalam and Punjabi, among others
Eros International Media has lined up over 65 films across multiple languages for the year 2016, including Housefull 3, Shivaay, Singam 3 and Rock On 2.

Besides Hindi films, the company also plans to have movies in regional languages including Marathi, Bengali, Tamil, Telugu, Malayalam and Punjabi, among others. The company will release big ticket entertainers such as R Balki’s Ki & Ka, the hit franchise comedy Housefull 3, and Rohit Dhawan’s Dishoom.

Eros International Media is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International is part of Eros International Plc, which became the first Indian media Company to raise capital and be listed on the New York Stock Exchange.
source : ventura

 

Emami unveils Zandu Pure Honey

The product is available in pack sizes of 100 gm, 250 gm and 500 gm and priced at Rs 75, Rs 165 and Rs 270, respectively
Emami, Kolkata-based FMCG firm has unveiled a new product ‘Zandu Pure Honey’. The product is 100% pure and no sugar is added. It is available in pack sizes of 100 gm, 250 gm and 500 gm and priced at Rs. 75, Rs. 165 and Rs. 270, respectively.

Emami manufactures products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products. Emami’s Boroplus portfolio is worth Rs 400 crore, comprising of three brands -- BoroPlus Antiseptic Cream, Boroplus Advanced Moisturizing Lotion and BoroPlus Prickly Heat Powder.
source : ventura

 

Nse M&M 1 lac @ 1175 value 11.75 crs (Bulk / Block Deals)

 

Pricol sells 100% stake in CMWL for Rs 13 crore

Subsequent to the aforesaid sale Coimbatore Metal Works is no longer a wholly owned subsidiary company of Pricol
Pricol has sold its 100% shareholding in wholly owned subsidiary company -- Coimbatore Metal Works (CMWL) for a consideration of Rs 13 crore. The company has entered into Share Purchase Agreement for Sale of Shares on 21 January 2016. Subsequent to the aforesaid sale Coimbatore Metal Works is no longer a wholly owned subsidiary company of Pricol and no longer a part of Pricol Group.

Pricol is engaged in the manufacture and export of a complete range of automotive components starting from instrument clusters, dashboard meters, fuel sensors, oil pressure switches, speedometer drive cables, fuel cut off valve, filter suction, etc.
source : ventura

 

Vardhman Textiles reports 50,728 metric tonnes of Yarn production in Q3FY16

In Grey Fabric segment, the production stood at 440 lakh meters in Q3FY16 while sales (including Internal Transfers) stood at 458 lakh meters
Vardhman Textiles has reported the production and sales details of the company for third quarter of current financial year under Yarn, Grey Fabric and Processed Fabric segments. Under Yarn segment, the production stood at 50,728 metric tonnes in Q3FY16 while sales (including Internal Transfers) stood at 52,785 metric tonnes for the same period.

In Grey Fabric segment, the production stood at 440 lakh meters in Q3FY16 while sales (including Internal Transfers) stood at 458 lakh meters. Similarly, under Processed Fabric segment, the production stood at 303 lakh meters in Q3FY16 while sales stood at 298 lakh meters for the same period.

Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.
source : ventura

 

KIRLOSKAR OIL Q3 PAT Rs.22cr vs Rs.34cr yoy, vs Rs.36cr qoq

 

KAJARIA CERAMICS Q3 cons PAT Rs.58cr vs Rs.46cr yoy, vs Rs.59cr qoq

 

HAVELLS Q3 Rs.121cr vs Rs.116cr yoy, vs Rs.121cr qoq

 

NOCIL Q3 PAT Rs.20cr vs Rs.16cr yoy, vs Rs.18cr qoq

 

SHANTI GEARS Q3 PAT Rs.5cr vs Rs.4cr yoy, vs Rs.6cr qoq

 

GHCL plans to foray into retail with its own brand: Report

The company already has a tie-up with Perry Ellis International, Inc. for the brand Laundry by Shellie Seigal for bedding products
GHCL is reportedly planning to foray into retail again with its own brand. In this regard, the company has begun market feasibility study even as it plans to launch the brand by early to mid next fiscal.

Moreover, the company already has a tie-up with Perry Ellis International, Inc. for the brand Laundry by Shellie Seigal for bedding products which include flat sheets, sheet sets, duvet covers and coordinating shams for customers in USA and Canada under the Laundry by Shelli Segal brand.

GHCL is a leading producer of synthetic soda ash in India with an installed capacity of 8.5 lakh tonnes Per Annum (TPA) located in Gujarat. Over the years, it has diversified into yarn and home textile products.
source : ventura

 

Bharat Electronics reports 9% rise in Q3 net profit

The company’s total income has decreased by 4.01% to Rs 1652.70 crore for the quarter under review
Bharat Electronics (BEL) has reported results for third quarter ended December 31, 2015.

The company has reported 8.79% rise in its net profit at Rs 295.71 crore for the quarter ended December 31, 2015 as compared to Rs 271.81 crore for the same quarter in the previous year. However, the company’s total income has decreased by 4.01% to Rs 1652.70 crore for the quarter under review from Rs 1721.78 crore for the corresponding quarter of the previous year.

BEL is a multi-product, multi-technology, multi-unit conglomerate with over 350 products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
source : ventura

 

COLGATE Q3 PAT Rs.159cr vs Rs.131cr yoy, vs Rs.157cr qoq

 

Today (28.01.16) Quarterly Results List :

Dabur, Xpro India, Vimta Labs, Vedanta, Zodiac, TRF, Titan, Smartlink, SBBJ, Syndicate Bank, Symphony, Royal Orchid Hotels, Sterlite Tech, SQSIndia, OCTL, Kesar Terminals, Rane Brake, Noida Toll, Infoedge, Jyothy Lab, Muthoot Finance, Maruti Suzuki, Mahindra Life, ICICI Bank, Igarashi Motors, Glenmark Pharma, GHCL, FSL, HCC, Emami, Granules, GPPL, Century Ply, Apar Ind, Alembic, Aegis Logistics, Adlabs, Bharti Airtel

 

SKS Microfinance reports 94% rise in Q3 net profit

The company’s total income has increased by 66% to Rs 343.43 crore for the quarter under review
SKS Microfinance has reported results for third quarter ended December 31, 2015.

The company has reported 93.62% rise in its net profit after tax at Rs 79.50 crore for the third quarter as compared to Rs 41.06 crore for the same quarter in the previous year. The company’s total income has increased by 66% to Rs 343.43 crore for the quarter under review from Rs 206.89 crore for the corresponding quarter of the previous year.

SKS Microfinance (SKS) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. SKS' mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
source : ventura

 

Crompton Greaves, CEA to explore solar market potential in India

The collaboration synergises the strategic strengths and complementary competencies of both establishments
Avantha Group Company Crompton Greaves (CG) and CEA (LITEN) have agreed to cooperate for a period of 12 months to investigate market potential and opportunities for Solar Photo Voltaic (PV) system with storage function for Indian Airports. The agreement was formally announced during the recently held India-France Business Summit in Chandigarh. There is no capital investment in the first phase of this collaboration, however following investigation if found suitable, the companies intend to set up manufacturing facilities using CG’s infrastructure and expertise in India and technology knowhow of CEA for commercialising the business opportunity. Being a critical infrastructure, Airports need significant energy backup. Use of Solar PV with battery backup is an innovative solution that will enable Indian airports to reduce carbon emissions by moving over the traditional diesel generator (DG) sets, at the same time make it an economical option given the considerable Time of Day (TOD) charges levied.

The collaboration synergises the strategic strengths and complementary competencies of both establishments - CEA with its significant expertise in Photovoltaic (PV) and battery storage technologies and CG an established player in AC substations in solar plants with significant market reach with large customers.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 10,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation and industries.
source : ventura

 

Neyveli Lignite’s Q3 net tumbles 85%

The company’s total income has decreased by 17.09% to Rs 1410.80 crore for the quarter under review
Neyveli Lignite Corporation has reported results for third quarter ended December 31, 2015.

The company has reported 84.62% fall in its net profit at Rs 47.61 crore for the third quarter as compared to Rs 309.47 crore for the same quarter in the previous year. The company’s total income has decreased by 17.09% to Rs 1410.80 crore for the quarter under review from Rs 1701.53 crore for the corresponding quarter of the previous year.

Neyveli Lignite Corporation is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines.
source : ventura

 

Axis Bank enters into tie-up with Apollo Munich

The health insurance company will be offering bank customers customized insurance policies
Axis Bank has entered into tie-up with Apollo Munich whereby the health insurance company will be offering bank customers customized insurance policies. This partnership will help further expand the bank’s existing bouquet of offerings and put forth a compelling proposition and ensure the health and well-being of customers.

The bank has registered a rise of 14.50% in its net profit at Rs 2175.3 crore for third quarter ended December 31, 2015 as compared to Rs 1899.76 crore for the same quarter in the previous year. Total income of the bank has increased 14.66% at Rs 12531.11 crore for Q3FY16 as compared Rs 10928.81 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 1.68% in the October- December quarter as against 1.34% in the same quarter previous year, while net NPAs stood at 0.75%.
source : ventura