LATEST BUSINESS NEWS

Tomorrow (24.02.16) foll stocks will go ex dividend : NMDC Rs.9.5, PG Foils Rs.1,

 

Nse RELIANCE 2 lacs @ 964 value 19.30 crs (Bulk / Block Deals)

 

Nse PVR 2 lacs @ 723 value 14.46 crs (Bulk / Block Deals)

 

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Nse NAUKRI 2.61 lacs @ 737 value 19.29 crs (Bulk / Block Deals)

 

Maruti Suzuki resumes production at its two manufacturing facilities in Haryana

The suspension of work at the two plants, located at Gurgaon and Manesar in Haryana, resulted in production loss of around 10,000 units to the company
Maruti Suzuki India has restarted production at its two manufacturing facilities in Haryana after two days of suspension due to the Jat reservation agitation in the state. The suspension of work at the two plants, located at Gurgaon and Manesar in Haryana, resulted in production loss of around 10,000 units to the company.

The company has restarted production of vehicles at its facilities in Gurgaon and Manesar plants in second half on February 23. The supply of components has started gradually.

Maruti Suzuki India, country’s largest car maker, has registered a fall of 2.6% in its total car sales (Domestic + Export) for the month of January 2016 at 113,606 units, as against 116,606 units in 2015. The company’s domestic sales rose by 0.8% in January 2016 at 106,383 units, as against 105,559 units in corresponding month last year.
source: ventura

 

Havells India plans to set up production unit in Gujarat

The company is in a process to set up production unit in Bangalore
Havells India is planning to set up production unit in Gujarat. The electronics goods manufacturer is aiming to double its business in Gujarat over the next three years. Currently, the company is in a process to set up production unit in Bangalore.

Delhi-based Havells has 10 plants across seven locations, and its proposed plant on a 50-acre plot near Bangalore would be its first outside north India.
source: ventura

 

Asian Paints' arm transfers its entire holdings in SCIB Chemical to BIL

This step has been taken with the company’s plan to consolidate its investments in the overseas subsidiaries
Asian Paints' wholly owned subsidiary - Asian Paints (International) (APIL), Mauritius, has transferred its entire holding of 60% held in the subsidiary company, SCIB Chemical S.A.E., Egypt, to Berger International, Singapore (BIL), a wholly owned subsidiary of APIL. This step has been taken with the company’s 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, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.
source: ventura

 

HCC’s JV secures order worth Rs 1114 crore in Manipur

The contract is for construction of lmphal-Kangchup-Tamenglong highway, which is a part of Asian Highway No1
Hindustan Construction Company (HCC), in joint venture with Vensar Constructions Company (VCCL), has been awarded Rs 1114 crore contract by the Public Works Department (PWD) of Government of Manipur. The contract is for construction of Imphal-Kangchup-Tamenglong highway, which is a part of Asian Highway No1. This project is backed by Asian Development Bank. This part of the highway starts at Imphal City and ends at Tamenglong covering a total length of 111 kms. The HCC share in the joint venture is 73%, which is Rs 813 crore. The project is to be completed in 42 months.

HCC is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.
source: ventura

 

SAIL to invest over Rs 10,200 crore on mine development

The Maharatna PSU’s modernization and expansion drive is to enhance its steel production capacity from 12.8 MTPA to 21.4 MTPA
Steel Authority of India (SAIL) is planning to invest over Rs 10,200 crore on mine development as the domestic steel giant embarks on a modernization and expansion programme. The Maharatna PSU’s modernization and expansion drive is to enhance its steel production capacity from 12.8 million tonnes per annum (MTPA) to 21.4 MTPA at an indicative investment of Rs 61,870 crore.

The programme is being undertaken at the SAIL’s facilities in Bhilai, Bokaro, Rourkela, Durgapur and Burnpur as well as the special steel plant at Salem.

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

 

Lupin plans to make significant investments in Japan

The company is setting up a new plant in Japan and investing Rs 100 crore in a manufacturing facility in India
Lupin is planning to make significant investments in Japan, the second biggest pharmaceutical market in the world. The company is setting up a new plant in Japan and investing Rs 100 crore in a manufacturing facility in India which will cater to the Japanese market.

Lupin, which entered Japan through acquisitions, reported 9% year-on-year growth in its business in the country in the third quarter of financial year 2016.

Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and APIs globally.
source : ventura

 

Nse TORNTPHARM 1.16 lacs @ 1265 value 14.68 crs (Bulk / Block Deals)

 

Videocon Industries plans to export its air conditioners to Australia

The company expects to raise share of exports in its overall sales for the air conditioner segment
Consumer durable and home appliances brand Videocon Industries is planning to export its air conditioners to Australia. With Australia, the company expects to raise share of exports in its overall sales for the air conditioner segment.

Currently, the company exports air conditioners to Gulf and SAARC countries. The company had exported about 30,000 air conditioners to Gulf and SAARC countries, with exports forming nine per cent of its total sales.

Add to that, the company is also intending to increase localisation in its air conditioner manufacturing process. Currently, Videocon imports 40% of its components for air conditioner manufacturing, which it intends to reduce to 25%, thereby increasing localisation to 75%.

Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.
source : ventura

 

Mindtree concludes acquisition of Magnet 360

Magnet 360 LLC, USA is a US-based Salesforce consulting partner
Mindtree has completed the necessary closing conditions with respect to the acquisition of entire membership interest in Magnet 360 LLC, USA. The company in month of January had acquired Magnet 360 -- a US-based Salesforce consulting partner, for $50 million in an all cash deal.

Mindtree is a global information technology consulting firm specializing in corporate IT services and solutions. It provides services such as Application Maintenance Services, Business Intelligence, Mainframe and System I, Infrastructure Management and Technical Support, etc.
source : ventura

 

Nse HDFC 98 k @ 1053.85 value 10.36 crs (Bulk / Block Deals)

 

Nse PIIND 5.02 lacs @ 514.85 value 25.88 crs (Bulk / Block Deals)

 

Nse COALIND 9.89 lacs @ 302.75 value 29.95 crs (Bulk / Block Deals)

 

LIC buys 3.90% additional stake in NTPC

State-owned insurer, which had 9.08% stake earlier, hiked its shareholding in the company to 12.98%
State-owned Life Insurance Corporation (LIC) has increased its stake in India's largest power producer NTPC by 3.90% after buying 32.15 crore shares in the open market.

State-owned insurer, which had 9.08% stake earlier, hiked its shareholding in the company to 12.98% by buying shares between July 25, 2014, and February 24, 2016. LIC's stake increase in NTPC includes its participation in this week's offer of sale (OFS) by the government.

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

 

Unitech defaults on Rs 38.52 crore payments to Central Bank of India

Despite repeated demands, the borrower has failed to make any payment after October 1, 2015
Central Bank of India has issued a public notice of default against Unitech for defaulting on payment of a loan installment to the tune of Rs 38.53 crore. The bank said that despite repeated demands, the borrower failed to make any payment after October 1, 2015. As on November 18, 2015, the borrower is liable to pay a sum of Rs 38.52 crore with further interest with effect from November 19, 2015, and other expenses/costs to the bank. According to Unitech, it has already repaid Rs 264 crore out of the Rs 300-crore taken as loan. The company expects to repay the outstanding amount within a short span of time.

Unitech, one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.
source : ventura