LATEST BUSINESS NEWS

Bharti Airtel migrates 40,000 network sites to green technology

Under ‘Project Leap’, Airtel will establish a world-class and future-ready network, while committing to bring down its carbon footprint emission by 70% by 2018
Bharti Airtel, India’s number one operator and the third largest mobile services provider globally, has migrated 40,000 of its network sites across India to green technology. In continuation with the company's long term commitment towards Green network initiatives - Airtel's network transformation program ‘Project Leap’ is now focusing heavily on a series of fresh initiatives towards a greener environment and building sustainable network for the future. Under ‘Project Leap’, Airtel will establish a world-class and future-ready network, while committing to bring down its carbon footprint emission by 70% by 2018.

More than 40,000 of these Green network sites are designed to operate largely on battery-hybrid, lithium-ion and solar hybrid solutions with little diesel consumption. Additionally, Airtel has adopted a range of innovative methods like reducing power consumption by switching off unused capacity of its telecom towers during lean periods. It is also reducing power consumption and air wave emissions by optimizing signal transmission between the network and the device.

Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers.
source: ventura

 

Amansa Holdings sells 15 lakh shares of Kirloskar Brothers

The shares were sold on an average price of Rs 115 valuing the transaction to Rs 17.25 crore
Amansa Holdings has sold 15 lakh shares of Kirloskar Brothers through the open market route. The shares were sold on an average price of Rs 115 valuing the transaction to Rs 17.25 crore. On the other hand, Sanjay Chandrakant Kirloskar has bought 14.98 lakh shares in the company for an average price of Rs 115 through open market route, valuing the transaction at Rs 17.22 crore.

Kirloskar Brothers is engaged in manufacturing pumps. It is a part of $2.2 billion Kirloskar group and India’s largest manufacturer and exporter of pumps and valves.
source: ventura

 

NTPC enters into partnership with German institutions

NETRA is planning to setup state of art evaluation facilities for CSP, CPV, and Solar PV
NTPC through its R&D wing -- NETRA -- has entered into partnership with German institutions DLR Cologne and Institute of Solar Energy to consolidate presence in renewable energy. Under this programme, NETRA is planning to setup state of art evaluation facilities for CSP, CPV, and Solar PV and conduct various programs for knowledge sharing, capacity building with German Institution in the area of Solar Energy. The programme is funded by German Government under the aegis of Indo-German Research Cooperation.

NTPC has envisaged a broad base generation mix by evaluating conventional and alternate sources of energy to ensure long run competitiveness and mitigate fuel risks. NTPC has drafted its business plan of capacity addition of about 1,000 MW through renewable resources by 2017. NTPC has already commissioned 110 MW Solar PV Projects. Another 15 MW Solar PV and 8 MW Small Hydro Projects are in progress.

NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.
source: ventura

 

Akzo Nobel to buy BASF India’s industrial coatings business

The company has agreed to buy coatings business for 475 million euro
Akzo Nobel India has agreed to buy BASF India’s industrial coatings business for 475 million euro to strengthen its position in various markets. BASF India’s industrial coatings business had sales of 300 million euro in 2015 and supplies coatings for coils, furniture foil, and panels, as well as having applications in commercial transport and wind energy.

AkzoNobel India (previously known as ICI India) is engaged in manufacturing and marketing of paints, speciality chemicals and adhesives.
source : ventura

 

Suven Life Sciences secures two product patents in Australia and Canada

The company has a total of twenty three granted patents from Australia and twenty two granted product patents from Canada
Suven Life Sciences has secured two product patents; one product Australia and one product patent from Canada corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2031 respectively.

The granted claims of the patent from Australia include the class of selective 5-HT4 compounds and the granted claims of the patent from Canada is through mechanism of action - H3 Inverse agonist and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.

With these new patents, the company has a total of twenty three granted patents from Australia and twenty two granted product patents from Canada. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.
source : ventura

 

Atul acquires 49% additional stake in Anchor Adhesives

It increased the stake in the resins and adhesives manufacturer to 98.99% making it a subsidiary of Atul
Atul has picked up an additional 49% stake in Anchor Adhesives, owner of the Polygrip brand for a cash consideration of Rs 80.27 lakh. It increased the stake in the resins and adhesives manufacturer to 98.99% making it a subsidiary of Atul.

The company held permanent and exclusive rights to use the Polygrip mark since June 2010. Done at arm’s length, promoters, promoter group and group companies of Atul do not have any interest in Anchor Adhesives.

Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture.
source : ventura

 

Gayatri Projects to invest in GHHL

The GHHL EPC contract had helped the company gain mileage with clients
Gayatri Projects has decided to invest in redeemable preference shares issued by Gayatri Hi-Tech Hotels (GHHL) in lieu of outstanding EPC receivables of Rs 235 crore from the latter.

The GHHL EPC contract had helped the company gain mileage with clients showcasing its ability to build high-end commercial buildings in addition to its core road, irrigation and industrial construction prowess.

Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.
source : ventura

 

ONGC gets nod to invest Rs 5,050 crore in Tripura

So far 11 gas fields are discovered by ONGC in Tripura and of these seven fields are on production
ONGC has received its board’s approval for Rs 5,050 crore investment in Tripura for drilling of wells and creation of surface facilities to produce 5.1 mmscmd gas from the state’s fields. The company’s board gave approval for the same at its meeting held at New Delhi on February 11.

As a result of geological mapping and exploratory efforts, so far 11 gas fields are discovered by ONGC in Tripura and of these seven fields are on production. ONGC Tripura Asset is carrying out its drilling activities with three owned rigs under operation and well servicing operations through two work-over rigs.

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 $31 billion.
source : ventura

 

Heritage Foods looks for new set of investors and strategic partners

The company is now planning to invest up to Rs 20 crore every year to expand its stores across cities such as Bengaluru, Chennai and Hyderabad
In a bid to turn its retail operations profitable in the next two years, Heritage Foods is looking for new set of investors and strategic partners.

The company, which has appointed management consultancy firm KPMG to restructure its operations, is now planning to invest up to Rs 20 crore every year to expand its stores across cities such as Bengaluru, Chennai and Hyderabad.

Heritage Foods is one of the fastest growing Private Sector Enterprises in India, with five-business divisions - Daily, Retail, Agri, Bakery and Renewable Energy under its flagship Company Heritage Foods.
source : ventura

 

Ujaas Energy bags order worth Rs 10.82 crore from AAI

The order is for Grid Connected Ground Mounted Solar Photo Voltaic Power Plant for Jaipur Airport of 1800 KWp
Ujaas Energy has received an order from Airport Authority of India (AAI) for Grid Connected Ground Mounted Solar Photo Voltaic Power Plant for Jaipur Airport of 1800 KWp. The approximate cost of the order is Rs 10.82 crore.

Ujaas Energy is engaged in manufacturing of power transformers, distribution transformers, furnace transformers and special purpose transformers.
source : ventura

 

Godrej Properties eyes Rs 1,500 crore sales revenue this year

The company has completed the construction of its commercial properties at Kolkata and Chandigarh
Godrej Properties is aiming to garner sales revenue of about Rs 1,500 crore this year through monetisation of its commercial assets in Mumbai, Kolkata and Chandigarh. The company has completed the construction of its commercial properties at Kolkata and Chandigarh, while the BKC project would be completed in next 3-4 months.

The realty firm in September had sold 435,000 sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai for a good valuation of Rs 1,479 crore.

Godrej Properties, the real estate arm of the Godrej group, has about 300,000 sq ft of office space left in the BKC project and about a million sq ft of commercial space in Kolkata and Chandigarh.
source : ventura

 

Idea Cellular, Aditya Birla Nuvo incorporate new company

Idea Cellular will hold up to 49 per cent equity capital in it and AB Nuvo will hold the remaining 51 per cent
Idea Cellular in collaboration with Aditya Birla Nuvo has incorporated a company named Aditya Birla Idea Payments Bank. Idea Cellular will hold up to 49 per cent equity capital in it and AB Nuvo will hold the remaining 51 per cent.

This follows the in-principle approval issued by the RBI to AB Nuvo, promoter and single largest shareholder of Idea Cellular, to set up a payments bank. Aditya Birla Nuvo had applied for payments bank license on February 2, 2015.

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

 

Dabur India enters into agreements for commercialization of Ayush 64, Ayush 82

Ayush-64 is an ayurvedic formulation for treatment of Malaria and while Ayush-82 is for management of diabetes
Dabur India has entered into License Agreements with the government for commercialization of malaria and diabetes drug Ayush 64 and Ayush 82 respectively. Ayush-64 is an ayurvedic formulation for treatment of Malaria and while Ayush-82 is for management of diabetes.

The agreement was signed between the National Research Development Corporation (NRDC), an Enterprise of the Department of Scientific & Industrial Research, Ministry of Science & Technology and the company.

Dabur India is one of the largest FMCG Company in India. Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.
source : ventura

 

Ricoh India secures order worth Rs 344 crore

The company has bagged the order from Kerala State Electronics Development Corporation
Ricoh India has bagged order worth Rs 344 crore from Kerala State Electronics Development Corporation for Supply, Installation and Commissioning of Computer Hardware, Connected Accessories, Software, Maintenance of Equipment(s) and provision of Computer Education Services in 2000 Government & Government Aided High Schools in the State of Odisha on Five Years BOOT Model Project under ICT@School Scheme.

Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services.
source : ventura

 

Zee Entertainment secures global telecast rights of TOIFA

The awards ceremony will be held on March 18 at the Dubai International Stadium
Zee Entertainment Enterprises has secured global telecast rights, excluding India, of the second edition of the Times of India Film Awards (TOIFA). The awards ceremony will be held on March 18 at the Dubai International Stadium.

Some of the regions where Zee would telecast the event include Middle East, Pakistan, Asia Pacific, America, Africa and Europe.

For the South Asian audience in Middle East, Zee would telecast the event on Zee Cinema, and for the Arabic audience, on the network's Arabic Bollywood channel ‘Zee Aflam’.

Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world, with an extensive library housing over 120,000 hours of television content. With rights to more than 3,500 movie titles from foremost studios and of iconic film stars, ZEE houses the world’s largest Hindi film library.
source : ventura

 

Axis Bank to offer loans to urban poor: Report

The bank in partnership with Suvidhaa, a domestic remittances company, is planning to offer funds to the lowest strata of the society
Axis Bank, India’s third largest private sector bank, in partnership with Suvidhaa, a domestic remittances company, is reportedly planning to offer funds to the lowest strata of the society (urban poor), like rickshaw pullers, taxi drivers, tailors and barbers. Suvidhaa has been the bank’s business correspondent for a long time and the bank have been doing payments, remittances for their customers, so credit was the only next logical step. Suvidhaa has processed the transaction history of its 35 million customer base who have been doing remittances through its retail touch points for years.

Earlier, the bank in partnership with Suvidhaa Infoserve had launched Axis Bank- Suvidhaa Prepaid Card, a first of its kind initiative in the Banking Industry, which leverages the e-KYC platform for Instant on boarding, cash deposit and withdrawal for the customer.

Axis Bank, India’s third largest private sector bank, has registered a rise of 14.50% in its net profit at Rs 2175.3 crore for third quarter ended December 31, 2015 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.
source : ventura

 

Asian Paints shuts down operations at its Rohtak Plant

Operations have been shut down with effect from February 19, 2016, due to agitation at IMT, Rohtak
Asian Paints’ operations at its Plant situated at Rohtak in Haryana state, have been shut down with effect from February 19, 2016, due to agitation at IMT, Rohtak. The company will make necessary disclosures on any material development, if any, in this regard.

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, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.
source : ventura

 

Nse ITC 6 lacs @ 298.60 value 17.93 crs (Block / Bulk Deals )

 

That's bad news, i am heavily invested in this company. Hopefully it will recover in the next 2 quarters

 

Asian paints is king of blue chip stocks. 20-25 % growth can be expected is wht i think. hold it long term.