LATEST BUSINESS NEWS

CITY UNION BANK Q3 PAT Rs.113cr vs Rs.103cr yoy, vs Rs.108cr qoq

 

Steel Authority of India reports net loss of Rs 1528.73 crore in Q3

The company’s total income has decreased by 21.07% to Rs 9043.71 crore for the quarter under review
Steel Authority of India has reported results for third quarter ended December 31, 2015.

The company has reported a net loss of Rs 1528.73 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 579.09 crore for the same quarter in the previous year. The company’s total income has decreased by 21.07% to Rs 9043.71 crore for the quarter under review from Rs 11457.54 crore for the corresponding quarter of the previous year.

SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
source :ventura

 

BHEL bags Rs 3,500 crore order from NTPC

The project is located within NTPC’s existing Ramagundam Power Station in Karimnagar district of Telangana
Outbidding competitors in an open global tender, Bharat Heavy Electricals (BHEL) has bagged order for the supply of two 800 MW Steam Generators (Boilers) with supercritical parameters. With this, the company has once again demonstrated its International competitiveness. Valued at nearly Rs 3,500 crore, the contract has been placed on BHEL by NTPC, for setting up the 2x800 MW Steam Generator (SG) island package at ‘Telangana Super Thermal Power Project (TnSTPP)’.

The project is located within NTPC’s existing Ramagundam Power Station in Karimnagar district of Telangana. The power generated from this plant will contribute substantially to meet the demand for power aimed at providing an impetus to the development of the state.

The company’s scope of work involves design, engineering, manufacture, supply, construction, erection, testing & commissioning and civil works for the Steam Generator island package. The key equipment for the contract will be manufactured at BHEL’s Trichy, Ranipet, Hyderabad, Jhansi and Bengaluru plants and the company's Power Sector division shall be responsible for civil works and erection/ commissioning of the equipment.

BHEL has a long-standing partnership with NTPC and has supplied over 30,000 MW of the coal-based power plants of NTPC and its JVs, that account for around 80% of NTPC's coal-based installed capacity. This also includes 2 supercritical units of 660 MW each, which have been commissioned at Barh. In addition, close to 8,000 MW sets of NTPC and its JVs are under various stages of execution by BHEL including 14 supercritical Steam Generators and 7 supercritical Steam Turbine Generators.
source :ventura

 

BANK OF INDIA Q3 loss Rs.1510cr vs PAT of Rs.173cr yoy, vs loss of Rs.1126cr qoq

 

VOLTAS Q3 cons PAT Rs.54cr vs Rs.107cr (inc exp inc of Rs.45cr) yoy, vs Rs.44cr qoq

 

Wipro to acquire ‘HealthPlan Services’ for $460 million

HealthPlan Services provides US payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform
Wipro, a leading global information technology, consulting and business process services company has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. As part of the agreement, Wipro will acquire 100% of HealthPlan Services’ shares for a purchase consideration of $460 million.

Since partnering with Water Street in 2008, HealthPlan has grown to become the leading independent technology and Business Process as a Service (BPaaS) provider in the US Health Insurance market. HealthPlan Services provides US payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform

Headquartered in Tampa, Florida, HealthPlan Services employs over 2,000 associates. HealthPlan Services offers market-leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to Health Insurance companies (Payers) in the individual, group and ancillary markets.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.
source :ventura

 

Mercator to divest its entire stake in Mercator Lines (Singapore)

The board of directors at its meeting held on February 11, 2016 has approved for the same
Mercator has received an approval for divestment of entire stake in Mercator Lines (Singapore), step down subsidiary held through wholly owned subsidiary Mercator International and to seek shareholders’ approval through Postal Ballot for the same. The board of directors at its meeting held on February 11, 2016 has approved for the same.

Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
source :ventura

 

ONGC reports 64% drop in Q3 net profit

Total income has decreased by 4.64% to Rs 19359.57 crore for the quarter under review
Oil & Natural Gas Corporation (ONGC) has reported results for third quarter ended December 31, 2015.

The company has reported 64% fall in its net profit at Rs 1285.62 crore for the quarter ended December 31, 2015 as compared to Rs 3571.20 crore for the same quarter in the previous year. The company’s total income has decreased by 4.64% to Rs 19359.57 crore for the quarter under review from Rs 20302.02 crore for the corresponding quarter of the previous year.

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.
source :ventura

 

BHEL reports net loss of Rs 1101.99 crore in Q3

Total income has decreased by 15.08% to Rs 5496.13 crore for the quarter under review
Bharat Heavy Electricals (BHEL) has reported results for third quarter ended December 31, 2015.

The company has reported a net loss of Rs 1101.99 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 212.60 crore for the same quarter in the previous year. The company’s total income has decreased by 15.08% to Rs 5496.13 crore for the quarter under review from Rs 6472.06 crore for the corresponding quarter of the previous year.

BHEL is the largest engineering and manufacturing organization of its kind in the country. It is also among the world's few integrated power plant equipment manufacturers with the capability to manufacture the entire range / type of power equipment and also to undertake projects on EPC basis.
source :ventura

 

Amtek Auto reports net loss of Rs 132.15 crore in Q3

The company’s total income has decreased by 23.08% to Rs 860.65 crore for the quarter under review
Amtek Auto has reported results for third quarter ended December 31, 2015.

The company has reported a net loss of Rs 132.15 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 70.81 crore for the same quarter in the previous year. The company’s total income has decreased by 23.08% to Rs 860.65 crore for the quarter under review from Rs 1118.94 crore for the corresponding quarter of the previous year.

Amtek Auto manufactures components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links. It is backed by in-house design and development facilities engaged in developing new product and processes.
source :ventura

 

Jubilant FoodWorks’ Q3 net tumbles 9%

Total income of the company has increased by 14.26% to Rs 635.11 crore for the quarter under review
Jubilant FoodWorks has reported results for third quarter ended December 31, 2015.

The company has reported 9.31% fall in its net profit at Rs 31.75 crore for the quarter ended December 31, 2015 as compared to Rs 35.01 crore for the same quarter in the previous year. However, total income of the company has increased by 14.26% to Rs 635.11 crore for the quarter under review from Rs 555.86 crore for the corresponding quarter of the previous year.

Jubilant FoodWorks is India’s largest and fastest growing food service company. The company and its subsidiary operates Domino’s Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.
source :ventura

 

Adani Power to invest Rs 18,400 crore to set up thermal, solar projects in Karnataka

Udupi Power Corporation has entered into MoU with Government of Karnataka to set up 2x800 MW Coal based Supercritical Power plant in Karnataka
Adani Power is planning to make an investment totaling Rs 18,400 crore for setting up of 1,600 MW thermal power projects and 1,000 MW solar project in Karnataka. The company’s subsidiary ‘Udupi Power Corporation’ has entered into Memorandum of Understanding (MoU) with Government of Karnataka to set up 2x800 MW Coal based Supercritical Power plant in Karnataka with an investment of Rs 11,400 crore, while Adani Green Energy, a subsidiary of the company has signed Expression of Interest to set up 1,000 MW Solar Power plant in Karnataka with an investment of Rs 7,000 crore.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
source :ventura

 

IFCI Q3 PAT Rs.154cr vs Rs.134cr yoy, vs Rs.183cr qoq

 

WELSPUN ENT Q3 PAT Rs.26cr vs Rs.0.6cr yoy

 

ALKEM PHARMA Q3 PAT Rs.210cr vs Rs.114cr yoy

 

NCC reports 58% rise in Q3 consolidated net profit

Total income of the company has decreased by 9.49% at Rs 2416.24 crore for quarter under review
NCC has reported results for third quarter ended December 31, 2015.

The company has reported 34.79% rise in its net profit of Rs 56.64 crore for the quarter ended December 31, 2015 as compared to Rs 42.02 crore for the same quarter in the previous year. However, the company’s total income has decreased by 12.95% to Rs 2095.52 crore for the quarter under review from Rs 2407.14 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 57.88% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 40.37 crore for the quarter ended December 31, 2015 as compared to Rs 25.57 crore for the same quarter in the previous year. However, total income of the company has decreased by 9.49% at Rs 2416.24 crore for quarter under review as compared to Rs 2669.65 crore for the quarter ended December 31, 2014.
source :ventura

 

Today Wockpharma Fall -13.50 % now at Rs.758.50

 

SHILPA MEDICARE Q3 cons PAT Rs.28cr vs Rs.17cr yoy

 

REPRO INDIA Q3 PAT Rs.0.7cr vs Rs.6cr qoq

 

CANARA BANK Q3 PAT Rs.85cr vs Rs.656cr yoy, vs Rs.529cr qoq