LATEST BUSINESS NEWS

Atul Auto reports 2% sales growth in January 2016

The company has reported sales of 3,708 units as compared to 3,636 units sold in January 2015
Atul Auto has reported 1.98% growth in sales for the month of January 2016 at 3,708 units as compared to 3,636 units sold in January 2015. The company’s total sales from April to January this year rose by 6.02% and stood at 37,080 units as compared to 34,974 units in the same period last year.

Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.
source:ventura

 

RBI KEEPS REPO RATE, CRR UNCHANGED

 

Hero MotoCorp sells 5,63,348 units of two-wheelers in January 2016

The company’s sales grew over 20% in scooter compared to the corresponding month last year
Hero MotoCorp, the world’s largest two-wheeler manufacturer has clocked 5,63,348 units of two-wheeler dispatches in January 2016, up by 0.78% as compared to 5,58,982 units sold in January 2015. Riding on the success of its scooter range, driven by the new Maestro Edge and Duet, the company continues to expand its market share in the scooter segment. In the month of January, the company’s sales grew over 20% in scooter compared to the corresponding month last year.

Hero Motocorp, formerly Hero Honda, is an Indian motorcycle and scooter manufacturer based in New Delhi, India. It sells products under the brand names such as Karizma ZMR, Splender, Xteme, Hunk, Impulse, Achiever, Ignitor, Glamour, Passion Pro, Maestro and Pleasure etc.
source:ventura

 

Nse UPL 2.73 lacs @ 431.35 value 11.78 crs (Bulk /Block Deals)

 

Neyveli Lignite to set up 50 MW solar power plant in Andaman

The company has also proposed to install solar power plants in Tamil Nadu, Karnataka, Rajasthan, Kerala, Andhra Pradesh and Telangana

State-run Neyveli Lignite Corporation (NLC) has proposed to set up a 50 MW solar power plant at an estimated cost of about Rs 370.60 crore in Andaman and Nicobar Islands. The company has also proposed to install solar power plants in Tamil Nadu, Karnataka, Rajasthan, Kerala, Andhra Pradesh and Telangana with a total capacity of 4,000 MW.

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

 

MANPASAND BEVERAGES Q3 PAT Rs.5cr vs loss of Rs.2.6cr yoy

 

WELSPUN IND Q3 cons PAT Rs.174cr vs Rs.144cr yoy, vs Rs.172cr qoq

 

Today (03.02.15) declare Q3 results :

Indian Oil, Bajaj Finance, GDL, Redington, Bajaj Finserv, JB Chemicals, Bajaj Hind, TTK Healthcare, Orient Cement, Sparc, CCL Products, PNB Gilts, Hexaware, Thomas Cook, Religare, Neuland Lab, Motilal Oswal, Aptech, LMW, Greaves Cotton, Hikal, JM Financial, Byke, Manugraph, KEC Int,Mangalam Cem, Accelya, Texinfra, LaOpala, Dalmia Bharat, DishTV, TD Power

 

United Breweries reports 81% rise in Q3 net profit

The company’s total income has increased by 15.54% to Rs 1169.69 crore for the quarter under review
United Breweries has reported results for third quarter ended December 31, 2015.

The company has reported 80.57% rise in its net profit at Rs 72.12 crore for the quarter ended December 31, 2015 as compared to Rs 39.94 crore for the same quarter in the previous year. The company’s total income has increased by 15.54% to Rs 1169.69 crore for the quarter under review from Rs 1012.37 crore for the corresponding quarter of the previous year.

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

 

Bayer CropScience reports 50% fall in Q3 net profit

The company’s total income has decreased by 10.19% to Rs 655.00 crore for the quarter under review
Bayer CropScience has reported results for third quarter ended December 31, 2015.

The company has reported 50.18% fall in its net profit at Rs 27.40 crore for the quarter ended December 31, 2015 as compared to Rs 55.00 crore for the same quarter in the previous year. The company’s total income has decreased by 10.19% to Rs 655.00 crore for the quarter under review from Rs 729.30 crore for the corresponding quarter of the previous year.

Bayer CropScience is engaged in manufacturing and marketing of crop-protection solutions, and trades in seeds on behalf of group company Bayer Bioscience.
source:ventura

 

Fortis Healthcare’s arm concludes 100% acquisition of RHTTM

RHTTM is a company incorporated in Singapore that acts as Trustee Manager to RHT
Fortis Healthcare’s step down subsidiary - Stellant Capital Advisory Services, has completed the acquisition of 100% of the issued shares of Religare Health Trust Trustee Manager (RHTTM), a company incorporated in Singapore that acts as Trustee Manager to Religare Health Trust (RHT), of which the company is the controlling unit holder, at a consideration of $ 14.9 million.

Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care speciality and hospitals, with a healthcare network spanning 9 countries.
source:ventura

 

Manali Petrochemicals to invest Rs 5 crore in overseas subsidiary

The board has discussed the overseas investment plans of the company and has approved for the same
Manali Petrochemicals has received an approval for investment of Rs 5 crore in the overseas subsidiary. The board has discussed the overseas investment plans of the company and has approved for the same.

Manali Petrochemicals (MPL) is a leader in the production and marketing of Propylene Oxide, Propylene Glycols and Polyols in India. The Company operates two grassroot production facilities at Manali to manufacture Propylene oxide (PO), Propylene Glycol (PG) and Polyols.
source:ventura

 

TVS Srichakra to expand tyre manufacturing capacity at its two plants

The two and three-wheeler tyre major is functioning at full capacity and gearing up to ramp up and cater to the growing demand
TVS Srichakra is all set to expand its tyre manufacturing capacity at two of its plants -- Madurai in Tamil Nadu and Pantnagar in Uttarakhand.

The two and three-wheeler tyre major, which currently churns out 2.3 million units per month across both its plants, is functioning at full capacity and gearing up to ramp up and cater to the growing demand both from the original equipment manufacturers and after-market demand.

TVS Srichakra is a part of TVS Group. It is engaged in the manufacture and sale of two and three wheeler tyres and tubes having a turnover of more than $300 million.
source:ventura

 

YuppTV partners with Sun Network to launch 10 channels in Middle East & North Africa

With the partnership in place, YuppTV will launch 10 channels in four languages -- Telugu, Malayalam, Tamil and Kannada - in the MENA
YuppTV, the world’s largest Over-The-Top (OTT) provider for Indian content, has partnered with leading South Indian television network Sun Network to offer numerous regional entertainment options to its users. With the partnership in place, YuppTV will launch 10 channels in four languages -- Telugu, Malayalam, Tamil and Kannada - in the Middle East and North Africa (MENA).

Under the agreement, YuppTV will make the following Sun Network channels available for its MENA viewers - Surya and Kiran (Malayalam), SunTV, KTV, Sun Music, Adithya TV (Tamil), Gemini TV, Gemini Movies & Gemini Comedy (Telugu) and Udaya TV (Kannada). The move will add more content to YuppTV’s entertainment repertoire which boasts of over 25000 hours of video content in its catalogue.

Sun TV Network (Sun TV) is a leading name in Indian broadcast media industry headquartered in Chennai, India. Established in the year 1993, Sun TV is the largest regional TV network offering a bouquet of thirty three TV channels that are watched by over 95 million Indian households and several more in over 27 other countries. Sun TV also operates - through its subsidiaries and affiliated companies - a network of 48 FM Radio stations across India.
source:ventura

 

Havells India eyes 10% growth in UP in FY16

The company is also targetting Rs 1,000 crore in revenues from UP during FY17
Havells India is aiming 10% growth in the current fiscal in Uttar Pradesh (UP), which contributes nearly 13% to its overall revenues. The company is also targetting Rs 1,000 crore in revenues from UP during FY17.

The company intends to expand its channel network from 550 to over 1,000 in the next couple of years in UP. Meanwhile, Havells has unveiled its new range of products.

Havells India is a leading FMEG Company with a strong global footprint. It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Pumps, Fans, Modular Switches, Home Appliances, Electric Water Heaters, Power Capacitors, CFL Lamps etc.
source:ventura

 

Idea Cellular launches 4G LTE services in Odisha

The telecom provider is aiming to expand its 4G services to 18 more towns by March 2016
Idea Cellular has rolled out its high-speed 4G LTE services in Odisha, expanding its foot print in eight telecom circles in the country. The 4G services launched covers 12 major towns in Odisha. Of which, in nine towns, the consumers will experience it for the first time.

The telecom provider is aiming to expand its 4G services to 18 more towns by March 2016. The other major towns to get 4G include Samablpur, Brahmapur, Rourkela and Bhadrak.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.
source:ventura

 

Crompton Greaves reports consolidated net loss of Rs 107.03 crore in Q3

Total income of the company has decreased by 14.32% at Rs 2087.52 crore for quarter under review
Crompton Greaves has reported results for third quarter ended December 31, 2015.

The company has reported 72.86% fall in its net profit at Rs 107.31 crore for the quarter ended December 31, 2015 as compared to Rs 395.37 crore for the same quarter in the previous year. The company’s total income has decreased by 5.21% to Rs 1008.63 crore for the quarter under review from Rs 1064.11 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported a net loss of Rs 107.03 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 274.29 crore for the same quarter in the previous year. Total income of the company has decreased by 14.32% at Rs 2087.52 crore for quarter under review as compared to Rs 2436.42 crore for the quarter ended December 31, 2014.
source:ventura

 

Religare Enterprises' arm divests its entire stake in RHTTM

RHTTM is a company incorporated in Singapore that acts as Trustee Manager to RHT
Religare Enterprises' wholly-owned subsidiary - RGAM Investment Advisers has sold its entire stake of Religare Health Trust Trustee Manager (RHTTM), a company incorporated in Singapore and acting as Trustee Manager to Religare Health Trust, to Stellant Capital Advisory Services, a subsidiary of Fortis Healthcare on February 02, 2016.

Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
source:ventura

 

Inox Wind Commissions 170 MW wind power project

The company has additionally signed an agreement for 24 MW with Continuum Wind Energy and is in advanced discussions for further repeat orders
Inox Wind, India's foremost wind energy solutions provider to IPPs, PSUs, Corporates, Utilities and Retail clients, has completed commissioning of the 170 MW wind power project for Continuum Wind Energy located at Ratlam district in the state of Madhya Pradesh. The company has additionally signed an agreement for 24 MW with Continuum Wind Energy and is in advanced discussions for further repeat orders from Continuum Wind Energy at the same site. Continuum Wind Energy is majority owned by North Haven Infrastructure Partners I, a US $4 bn investment fund managed by Morgan Stanley Infrastructure that focuses on long-term investments across the globe.

The 170 MW completed order comprised of manufacture, supply, erection and commissioning of 85 units of Inox Wind's top rated 2 MW Wind Turbine Generator with 100 meter rotor diameter and 92 meter hub height. It was the largest deal signed and successfully commissioned for a wind Independent Power Producer in Madhya Pradesh. Inox Wind's high performing 100 rotor diameter variant has been certified to have Annual Energy Production up to 21% higher than its 93.3 rotor diameter product. Post commissioning, Inox Wind will also provide long term Operations and Maintenance Services to the project. The wind energy project which has commenced supply of electricity to the state of Madhya Pradesh will provide power to 89,OOO households and curtail 0.25 million tonnes of carbon dioxide emissions annually.
source:ventura

 

Y K Hamied buys 5.22% additional stake in Cipla

Following the acquisition, his total holding in the drug firm increased to 20.76% from earlier stake of 15.54%
In a move aimed at realignment of family shareholding, Cipla patriarch Y K Hamied, Non-Executive Chairman of the company has acquired 5.22% additional stake in the company from his wife Farida Hamied. Following the acquisition, his total holding in the drug firm increased to 20.76% from earlier stake of 15.54%.

The transfer of shares is being done by way of gift. The development comes at a time when the Mumbai-based drug maker is in the midst of a transition in leadership.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 150 countries. Its portfolio includes 1500 plus products across therapeutic categories with one quality standard globally.
source:ventura