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TCIL to incorporate wholly owned subsidiary company in Bangladesh

The board of directors at their meeting held on October 28, 2015 has approved for the same
Transport Corporation of India (TCIL) has received an approval for formation of wholly owned direct subsidiary in Bangladesh. The board of directors at their meeting held on October 28, 2015 has approved for the same.

Transport Corporation of India is India’s leading integrated supply chain and logistics solutions provider and a pioneer in the sphere of cargo transportation in India.
source :ventura

 

CARE reaffirms rating assigned to bank facilities of TVS Motor Company

The credit rating agency has reaffirmed the rating ‘A1+’ assigned for issue of Commercial paper by the company
Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed the rating ‘A1+’ assigned for issue of Commercial paper by TVS Motor Company for a sum not exceeding Rs 100 crore.

TVS Motor is the 3rd largest two-wheeler manufacturer in India and one among the top ten in the world, with annual revenue of more than Rs. 10,131 Cr in 2014-15 (around USD 1.6 billion), and The company has a production capacity of 3 million 2 wheelers & 1.2 Lakh 3 wheelers a year.
source:ventura

 

Asian Paints arm transfers its holdings to Berger International

This step has been taken by the company as part of its plan to consolidate its investments in the overseas subsidiaries
Asian Paints - wholly owned subsidiary - Asian Paints (International), Mauritius, has transferred its entire holding of 80% held in the subsidiary company - Samoa Paints, Samoa and 75% holding in the subsidiary company - Asian Paints (S.I.), Solomon Islands, to Berger International, Singapore, a wholly owned subsidiary of Asian Paints (International). This step has been taken by the company as part of its plan to consolidate its investments in the overseas subsidiaries.

Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.
source:ventura

 

Indian Hume Pipe Company gets nod to close its Vadgaon factory

The company will close its Vadgaon factory at Pune with effect from November 01, 2015
Indian Hume Pipe Company has received an approval for closure of company’s Vadgaon factory at Pune with effect from November 01, 2015 subject to the necessary approvals, sanctions, permissions and NOCs from the concerned authorities and the State Government. The board of directors at their meeting held on October 28, 2015, has approved for the same.

Indian Hume Pipe Company is engaged in the business of providing integrated Water Supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of Water supply and irrigation projects.
source : ventura

 

Emco to establish wholly owned subsidiary at Dubai

The board of directors at their meeting held on October 28, 2015 has passed a resolution for the same
Emco has received an approval to establish a wholly owned subsidiary at Dubai in UAE and make investment therein. The board of directors at their meeting held on October 28, 2015 has passed a resolution for the same.

Emco is engaged in manufacturing power equipments and is the third largest manufacturer of transformers in India.
source:ventura

 

M&M’s arm MFCS to expand footprint in West Bengal

MFCS’s growth plans for the state envisage 30 new workshops by March 2016
Mahindra & Mahindra’s (M&M) wholly owned subsidiary -- Mahindra First Choice Services (MFCS), India’s leading chain of multi-brand car service workshops, is planning to expand its footprint in West Bengal. MFCS’s growth plans for the state envisage 30 new workshops by March 2016.

The company envisions great potential for the multi-brand car servicing business in West Bengal and invites applications from existing OEM dealers, independent car workshops, and other automobile related businesses as well as from those currently engaged in non-auto businesses in Arambagh, Asansol, Ashoknagar, Baharampur, Bally, Balurghat,Bangaon, Bankura, Barrackpore, Barasat, Baruipur, Bardhaman, Basirhat, Budge-budge, Chakdaha, Chandannagar, Chandrakona, Contai,Dankuni, Dhulian, Diamond Harbour, Durgapur, Farakka, Habra, Haldia, Jangipur, Jhargram, Kalyani, Kharagpur, Krishnanagar, Malda Town, Medinipur, Nabadwip ,North Kolkata, Purulia, Ranaghat, South Kolkata, Suri, Uluberia,Uttarpara and nearby towns for franchisee partnerships.

MFCS provides franchise partners with a high level of support, from helping them design workshop layouts to ensuring optimum utilization of land and resources and also helps them select the right manpower and workshop staff, who are trained at the company’s ‘Yellow Spanner Academy’ and technical training centres in Noida and Bengaluru. MFCS has expanded its network rapidly in the past one year through Franchisee Owned Franchisee Operated (FOFO) workshops. As of 31st September 2015, the company has 81 workshops in 14 states.
source:ventura

 

Just Dial reports 47% rise in Q2 net profit

The company’s total income has increased by 26.69% to Rs 197.53 crore for the quarter under review
Just Dial has reported results for second quarter ended September 30, 2015.

The company has reported 47.03% rise in its net profit at Rs 46.30 crore for the quarter ended September 30, 2015 as compared to Rs 31.49 crore for the same quarter in the previous year. The company’s total income has increased by 26.69% to Rs 197.53 crore for the quarter under review from Rs 155.91 crore for the corresponding quarter of the previous year.

Just Dial is one of the leading local search engines in India. It provides users search services with information and user reviews from its database of local businesses, products and services across India.
source:ventura

 

M&M’s arm MFCS aims 50% rise in topline in FY16

The company is eyeing a fast growth in turnover on the back of its aggressive expansion plans for its workshop network
Mahindra & Mahindra’s (M&M) wholly owned subsidiary -- Mahindra First Choice Services (MFCS), India’s leading chain of multi-brand car service workshops, is aiming to increase its topline by 50 per cent to Rs 75 crore by the end of FY16. The company is eyeing a fast growth in turnover on the back of its aggressive expansion plans for its workshop network.

In terms of expansion, the company is looking to add 120 workshops - mostly franchisees - by the end of this fiscal. It will take the total tally of the workshops to 200. Of these, 20 workshops are company owned.

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

 

Ambuja Cements reports 36% fall in Q3 net profit

The company’s total income has decreased by 4.61% to Rs 2184.97 crore for the quarter under review
Ambuja Cements has reported results for third quarter ended September 30, 2015.

The company has reported 35.76% fall in its net profit at Rs 153.57 crore for the quarter ended September 30, 2015 as compared to Rs 239.06 crore for the same quarter in the previous year. The company’s total income has decreased by 4.61% to Rs 2184.97 crore for the quarter under review from Rs 2290.57 crore for the corresponding quarter of the previous year.

Ambuja Cement is a part of a global conglomerate Holcim. The company has five integrated cement manufacturing plants and eight cement grinding units across the country.
source :ventura

 

Exide Industries reports 24% rise in Q2 net profit

The company’s total income has decreased marginally by 1.26% to Rs 1747.40 crore for the quarter under review
Exide Industries (EIL) has reported results for second quarter ended September 30, 2015.

The company has reported 24.09% rise in its net profit after tax at Rs 156.06 crore for the quarter ended September 30, 2015 as compared to Rs 125.76 crore for the same quarter in the previous year. However, the company’s total income has decreased marginally by 1.26% to Rs 1747.40 crore for the quarter under review from Rs 1769.61 crore for the corresponding quarter of the previous year.

EIL manufactures the widest range of storage batteries in the world from 2.5 Ah to 20,400 Ah capacities, covering the broadest spectrum of applications. EIL is India’s largest producer of automotive and industrial batteries, with seven manufacturing plants strategically located across the country.
source :ventura

 

Pidilite Industries reports 38% jump in Q2 consolidated net profit

The total income of the company has increased by 4.93% at Rs 1332.31 crore for quarter under review
Pidilite Industries has reported results for second quarter ended September 30, 2015.

The company has reported 33.75% rise in its net profit at Rs 182.76 crore for the quarter ended September 30, 2015 as compared to Rs 136.64 crore for the same quarter in the previous year. The company’s total income has increased by 2.46% to Rs 1177.21 crore for the quarter under review from Rs 1148.97 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 38.01% rise in its net profit after taxes, Minority Interest and Share of Profit of Associates at Rs 191.7 crore for the quarter ended September 30, 2015 as compared to Rs 138.9 crore for the same quarter in the previous year. The total income of the company has increased by 4.93% at Rs 1332.31 crore for quarter under review as compared to Rs 1269.71 crore for the quarter ended September 30, 2014.
source:ventura

 

Raymond reports 86% fall in Q2 consolidated net profit

The total income of the company has increased by 2.46% at Rs 1507.68 crore for quarter under review
Raymond has reported results for second quarter ended September 30, 2015.

The company has reported 64.31% fall in its net profit after tax at Rs 16.58 crore for the quarter ended September 30, 2015 as compared to Rs 46.46 crore for the same quarter in the previous year. However, the company’s total income has increased by 2.01% to Rs 746.40 crore for the quarter under review from Rs 731.66 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 86.14% fall in its net profit at Rs 9.44 crore for the quarter ended September 30, 2015 as compared to Rs 68.12 crore for the same quarter in the previous year. However, the total income of the company has increased by 2.46% at Rs 1507.68 crore for quarter under review as compared to Rs 1471.50 crore for the quarter ended September 30, 2014.
source:ventura

 

JK Tyre to increase passenger car tyre manufacturing capacity by 50% at Mexican plant

The expansion is expected to be completed by end of this year and half of the production will be for domestic market
JK Tyre & Industries is planning to increase its passenger car tyre manufacturing capacity by 50% at its Mexican plant to 5 million tyres a year from 3.5 million tyres currently. In this regard, the company will invest around Rs 150 crore in the expansion. The company already has invested $22 million in this plant. The plant will start manufacturing special applications.

The expansion is expected to be completed by end of this year and half of the production will be for domestic market. The plant will also start manufacturing tyres for special applications including forklift, implements like garden equipments, construction equipments etc.

JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.
source:ventura

 

Sun Pharma recalls over 10 lakh boxes of allergy drug in US

Such recalls are done by drug makers if there is a defect in the product, which, if unaddressed, could result in stricter action from regulators
Sun Pharmaceutical Industries (Sun Pharma)is reportedly recalling over ten lakh boxes of its anti-allergic Loratadine drug from the US market as the lot was found to be ‘super potent’ and ‘out of specification’. Such recalls are done by drug makers if there is a defect in the product, which, if unaddressed, could result in stricter action from regulators. The recalled drugs were manufactured and distributed in the US by Ohm Laboratories, a New Jersey-based subsidiary of Ranbaxy.

Sun Pharma is the world’s fifth largest specialty generic pharmaceutical company and India's top pharmaceutical company. A vertically integrated business, economies of scale and an extremely skilled team enable us to deliver quality products in a timely manner at affordable prices. It provides high-quality, affordable medicines trusted by customers and patients in over 150 countries across the world.
source:ventura

 

Coal India enters into JV pact with GAIL, RCF and FCIL

The company has entered into JV for incorporation of a Company namely - ‘Rashtriya Coal Gas Fertilizers’ to establish and operate new coal gasification based Fertilizer Complex
Coal India (CIL) has entered into a joint venture (JV) agreement with GAIL, Rashtriya Chemical Fertilizers (RCF) and Fertilizer Corporation of India (FCIL) for incorporation of a Company namely - ‘Rashtriya Coal Gas Fertilizers’ to establish and operate new coal gasification based Fertilizer Complex (Ammonia Urea Complex) at Talcher along with power plant and associated facilities at Talcher unit of FCIL and to market its products.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
source:ventura

 

Strides Arcolab informs about update on scheme of amalgamation

Strides Arcolab has informed that the Foreign Investment Promotion Board, Government of India, in its press release dated October 28, 2015 has approved the Company’s proposal for issuing shares to non-resident equity shareholders under the Scheme of Amalgamation. The Company await formal letter from FIPB in this regard.

The above information is a part of company’s filings submitted to BSE.
source:ventura

 

YES BANK Q2 PAT Rs. 610 Cr. vs Rs. 483 Cr. YOY , Vs Rs. 551 Cr.qoq

 

NSE IBULHSGFIN 2,00,000 QUANTITY @ Rs.725 , Value Rs. 14.52 Cr. (Bulk/ Block Deals)

 

Deep Industries bags two orders worth Rs 20.66 crore

The company has received notification of award worth Rs 14.36 crore for hiring the Services of Natural Gas Compression at GGS-Wadu, Ahmedabad Asset of ONGC
Deep Industries has bagged two orders worth Rs 20.66 crore. The company has received notification of award for hiring the Services of Natural Gas Compression at GGS-Wadu, Ahmedabad Asset of ONGC for a period of three years. The total value of the said asset award is of approximately Rs 14.36 crore.

The company has also received notification of award for hiring the services of Natural Gas Compression at GCP, Gelkey, Assam Asset of ONGC for a period of three years. The total value of the said asset award is of approximately Rs 6.30 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