LATEST BUSINESS NEWS

UTTAM GALVA Q3 loss Rs.424cr vs PAT of Rs.5.5cr yoy

 

M&M Q3 PAT Rs.808cr vs Rs.942cr (inc one time gain of Rs.299cr) yoy, vs Rs.924cr qoq

 

ADANI PORTS Q3 cons PAT Rs.645cr vs Rs.512cr yoy, vs Rs.667cr qoq

 

AB FASHIO Q3 PAT Rs.8cr vs loss of Rs.43cr yoy

 

HIMADRI CHEMICALS Q3 PAT Rs.6cr vs loss of Rs.10cr yoy

 

MAN IND Q3 PAT Rs.18.5cr vs Rs.2cr yoy

 

KOLTE PATIL Q3 cons PAT Rs.13cr vs Rs.20cr yoy, vs Rs.13cr qoq

 

SUNPHARMA Q3 cons PAT Rs.1420cr vs Rs.1425cr yoy, vs Rs.1107cr qoq

 

SUVEN PHARMA Q3 PAT Rs.18cr vs Rs.32cr yoy, vs Rs.25cr qoq

 

RCF Q3 PAT Rs.54cr vs Rs.94cr yoy, vs Rs.48cr qoq

 

OIL INDIA Q3 PAT Rs.411cr vs Rs.498cr yoy, vs Rs.675cr qoq

 

IDBI BANK Q3 loss Rs.2184cr vs PAT of Rs.103cr yoy, vs PAT of Rs.119.5cr qoq

 

Biocon gets its first Generic Formulation approval in EU

The approval for Rosuvastatin Calcium, through decentralized procedure will open the doors for Biocon to over 15 European countries
Biocon, Asia's premier biopharmaceuticals company, has received European approvals for its Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, a generic equivalent of Crestor tablets, indicated for hyperlipidemia or mixed dyslipidemia. This first generic formulations approval in the regulated markets marks an important milestone in Biocon's small molecules strategy of forward integration from APIs to finished dosages.

The approval for Rosuvastatin Calcium, through decentralized procedure will open the doors for Biocon to over 15 European countries and will enable the company to address US$ 1.2 billion opportunity, starting FY17. Biocon was the first generic company to receive a Certificate of Suitability (CEP) for Rosuvastatin Calcium API from the European Directorate for the Quality of Medicines (EDQM). A CEP certification indicates that an API is suitable for use in medicinal products in the EU.

Biocon aims to rev up its generic formulations business with a target of 20-25 filings over the next few years. Its new potent oral solid dosage formulations facility coming up in Bengaluru will enable this business expansion. The company is also working on dossiers to introduce these formulations in A emerging markets where regulatory clearances are primarily based on approvals given by regulators in the US / EU.
source: ventura

 

INDIA : JAN WPI @ -0.9% vs -0.73% (mom)
source: ventura

 

NHPC to develop 50MW Grid connected Solar Power Projects in Maharashtra

The company has inked MoU with MAHAGENCO/ Government of Maharashtra on February 10, 2016 for the same
NHPC has inked a Memorandum of Understanding (MoU) on February 10, 2016 with MAHAGENCO/ Government of Maharashtra for development of 50MW Grid connected Solar Power Projects in Maharashtra during 2016-17.

NHPC is an Indian Hydro Power Generation company that was incorporated with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects.
source: ventura

 

Oil India reports 18% fall in Q3 net profit

The company’s total income has increased by 3.77% to Rs 2583.75 crore for the quarter under review
Oil India has reported results for third quarter ended December 31, 2015.

The company has reported 17.59% fall in its net profit at Rs 410.65 crore for the quarter ended December 31, 2015 as compared to Rs 498.28 crore for the same quarter in the previous year. However, the company’s total income has increased by 3.77% to Rs 2583.75 crore for the quarter under review from Rs 2489.90 crore for the corresponding quarter of the previous year.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
source: ventura

 

Sun Pharmaceutical Industries reports over three fold jump in Q3 consolidated net profit

Total income of the company has increased by 6.50% at Rs 7301.31 crore for quarter under review
Sun Pharmaceutical Industries has reported results for third quarter ended December 31, 2015.

The company has reported a net loss of Rs 146.65 crore for the quarter ended December 31, 2015 as compared to net loss Rs 1511.59 crore for the same quarter in the previous year. However, the company’s total income has increased by 26.72% to Rs 1882.79 crore for the quarter under review from Rs 1485.74 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported over three fold jump in its net profit after taxes, minority interest and share of profit of associates of Rs 1416.60 crore for the quarter ended December 31, 2015 as compared to Rs 395.33 crore for the same quarter in the previous year. Total income of the company has increased by 6.50% at Rs 7301.31 crore for quarter under review as compared to Rs 6855.85 crore for the quarter ended December 31, 2014.
source: ventura

 

Manappuram Finance reports 25% rise in Q3 consolidated net profit

Total income of the company has increased by 20.13% at Rs 620.71 crore for quarter under review
Manappuram Finance has reported results for third quarter ended December 31, 2015.

The company has reported 20.63% rise in its net profit of Rs 97.26 crore for the quarter ended December 31, 2015 as compared to Rs 80.63 crore for the same quarter in the previous year. The company’s total income has increased by 11.53% to Rs 575.98 crore for the quarter under review from Rs 516.43 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 24.51% rise in its net profit after taxes, minority interest and share of profit of associates of Rs 100.34 crore for the quarter ended December 31, 2015 as compared to Rs 80.59 crore for the same quarter in the previous year. Total income of the company has increased by 20.13% at Rs 620.71 crore for quarter under review as compared to Rs 516.68 crore for the quarter ended December 31, 2014.
source: ventura

 

Corporation Bank reports net loss of Rs 388.37 crore in Q3

Total income of the bank has decreased by 0.98% to Rs 5158.52 crore for the quarter under review
Corporation Bank has reported results for third quarter ended December 31, 2015.

The bank has reported a net loss of Rs 388.37 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 147.20 crore for the same quarter in the previous year. Total income of the bank has decreased by 0.98% to Rs 5158.52 crore for the quarter under review from Rs 5209.54 crore for the corresponding quarter of the previous year.

Gross non-performing assets (NPAs) increased to 7.32% in the October- December quarter as against 4.88% in the same quarter previous year, while net NPAs stood at 4.84%.
source: ventura

 

Inox Wind bags 100 MW repeat order from TPREL

The order is TPREL’s fourth project with Inox Wind taking the cumulative orders placed with Inox Wind across various sites to more than 300 MW
Inox Wind, India’s leading wind power solutions provider, has bagged a repeat order for a 100 MW wind power project at Rojmal, in the state of Gujarat from Tata Power Renewable Energy (TPREL).The order is TPREL’s fourth project with Inox Wind taking the cumulative orders placed with Inox Wind across various sites to more than 300 MW. TPREL is a 100%subsidiary of Tata Power and has 215 MW of commissioned renewable assets, with another 250 MW under construction/on order. Tata Power, including TPREL’s capacities, has a commissioned capacity of 600+ MW of Wind and Solar assets.

Inox Wind’s Rojmal site is one of the largest wind farms in the state of Gujarat with a capacity of 400 MW. More than 140 MW of capacities are already operational at the wind park including 50 MW capacities of TPREL. The commissioned common infrastructure facilities at the site are capable of supporting power evacuation of 400 MW.

As part of the turnkey order, Inox Wind will provide TPREL with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services. The repeat order involves supply and installation of 50 units of Inox Wind’s best in class 2MW DFIG100 rotor dia Wind Turbine Generator, proving the success of Inox Wind’s technology which has been developed especially for Indian climatic conditions.
source: ventura