LATEST BUSINESS NEWS

SYNDICATE BANK Q4 loss Rs.2158cr vs PAT of Rs.417cr yoy, vs loss of Rs.120cr qoq

 

Bharat Forge reports 19% fall in Q4 net profit

Total income of the company has decreased by 17.16% at Rs 1030.51 crore for quarter under review

Bharat Forge has reported results for the fourth quarter and year ended March 31, 2016.

The company has posted a fall of 19.03% in its net profit at Rs 164.52 crore for the quarter ended March 31, 2016 as compared to Rs 203.18 crore for the same quarter in the previous year. Total income of the company has decreased by 17.16% at Rs 1030.51 crore for quarter under review as compared to Rs 1243.92 crore for the quarter ended March 31, 2015.

For the year ended March 31, 2016, the company has posted a fall of 2.49% in its net profit at Rs 701.06 crore as compared to Rs 718.98 crore for the same period in the previous year. Total income of company decreased 5.09% at Rs 4405.28 crore for year under review as compared to Rs 4641.37 crore for the period ended March 31, 2015.

For the year ended March 31, 2016, on the consolidated basis, the company has posted fall of 14.76% in its net profit after taxes, minority interest and share of profit of associates at Rs 649.99 crore as compared to Rs 762.54 crore for the same period in the previous year. However, total income of company has increased by 0.27% at Rs 7780.08 crore for year under review as compared to Rs 7758.86 crore for the period ended March 31, 2015.
source: ventura

 

MPS Q4 cons PAT Rs.22cr vs Rs.13cr yoy, vs Rs.17cr qoq

 

SYMPHONY Q4 PAT Rs.46.5cr vs Rs.36.5cr yoy, vs Rs.48cr qoq

 

BHARAT FORGE Q4 PAT Rs.164.5cr vs Rs.203cr yoy, vs Rs.166cr qoq

 

KPR Mill commissions large Green field Garment manufacturing facility

Backed up by enthusiastic market condition, increased Garment capacity, strategic move towards more value added yarn, KPR is entering into its next phase of growth

KPR Mill has commissioned its large Green field Garment manufacturing facility with a capacity to produce 36 million Garments per annum under one roof. With this, KPR is one of the largest Garment Manufacturers in India. Ramping up of the capacity will take place during the current financial year. Backed up by enthusiastic market condition, increased Garment capacity, strategic move towards more value added yarn, KPR, a vertically integrated Textile company with unique strengths is entering into its next phase of growth.

KPR Mill is a leading garment exporter as well as a largest vertically integrated apparel company, engaged in manufacturing and marketing readymade knitted garments, knitted fabrics and cotton yarn.
source:ventura

 

HONEYWELL AUTOMATION Q4 PAT Rs.28cr vs Rs.32cr qoq

 

Aurobindo Pharma receives USFDA approval for Hydromorphone Hydrochloride Tablets
Hydromorphone Hydrochloride Tablets is used to relieve moderate to severe pain in patients where the use of an opioid is appropriate

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Hydromorphone Hydrochloride Tablets USP, 2 mg, 4 mg, and 8 mg. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Dilaudid (hydromorphone hydrochloride) Tablets, 2 mg, 4 mg, and 8 mg of Purdue Pharma L.P.

Hydromorphone Hydrochloride Tablets is used to relieve moderate to severe pain in patients where the use of an opioid is appropriate. The approved product has an estimated market size of $50 million for the twelve months ending March 2016 according to IMS.

This is the 12th ANDA to be approved out of Aurolife formulation facility in New Jersey, USA for manufacturing Non-Antibiotic products & Controlled substances. Aurobindo now has a total of 263 ANDA approvals (225 Final approvals including 12 from Aurolife Pharma LLC and 38 tentative approvals) from USFDA.
source: ventura

 

Today (18.05.16) foll cos. will announce Q4 results :
Corporation Bank, Universal Cables, Tata Comm, PTC India, Birla Ericsson, Indian Hotels, Indo Rama Synthetics, IFB Ind, Prabhat Dairy, Ratnamani Metals, PNB, JSW Steel, Majesco, Balkrishna Ind, Dalmia Bharat, Torrent Power, J K Lakshmi Cem, Skipper, Kirloskar Oil Eng, Orient Green

 

PNB Q4 loss Rs.5367cr vs PAT of Rs307cr yoy, vs PAT of Rs.51cr qoq

 

Nse ZEEL 4.14 lacs @ 440.50 value 18.27 crs
source: ventura

 

PNB to offload stake in PNB Housing Finance

The finance ministry has been asking banks to offload non-core assets to meet capital requirements

Punjab National Bank (PNB) is looking to offload stake in its subsidiary PNB Housing Finance (PNBHF) to over 30 percent as the latter goes for an initial public offer (IPO) of equity later this year. At present, the country’s second largest lender holds 51 percent stake in PNBHF.

The finance ministry has been asking banks to offload non-core assets to meet capital requirements. PNBHF, the fifth largest in its segment, had 66 percent growth in net profit during 2015-16 to Rs 326 crore, against Rs 196 crore in 2014-15. Total income grew 52 percent to Rs 2,697 crore
source: ventura

 

Today (19.05.16) foll cos. will announce Q4 results :
Wabco India, Nicco Corp, Lupin, Indian Hume Pipes, GHCL, Esab India, Shirpur Gold, Igarashi Motors, Deep Ind, ICRA, Ajmera Realty, Indian Card, Manpasand Beverages, FCEL, Man Infra, Dishman Pharma, GPPL, Infinite, IRB, ACE, ENIL, Vindhya Tele, GSPL, Pidilite Ind, Sobha, Rane Engine, CESC, Rico Auto
source: ventura

 

LIC hikes stake in Tata Motors to 7.01%

The insurer has increased its shareholding through purchase of shares between January 8, 2013, and May 17, 2016

Life Insurance Corporation (LIC) has hiked its stake in Tata Motors to over 7% through various open market transactions. The country’s largest life insurer has increased its shareholding in the company from 4.91% to 7.01% through purchase of shares between January 8, 2013, and May 17, 2016.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
source: ventura

 

Glenmark receives ANDA approval for Rufinamide Tablets

Rufinamide Tablets USP, 200 mg and 400 mg is a therapeutic equivalent of Banzel Tablets, 200 mg and 400 mg of Eisai, Inc.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for its Rufinamide Tablets USP, 200 mg and 400 mg, a therapeutic equivalent of Banzel Tablets, 200 mg and 400 mg of Eisai, Inc. According to IMS Health sales data for the 12 month period ending March 2016, the Banzel market achieved annual sales of approximately $155.1 million.

With respect to 180-day generic drug exclusivity, Glenmark was one of the first ANDA applicants to submit a substantially complete ANDA for Rufinamide Tablets USP, 200 mg and 400 mg, with a paragraph IV certification. Therefore, with this approval, Glenmark is eligible for 180 days of shared generic drug exclusivity for Rufinamide Tablets USP, 200 mg and 400 mg.

Glenmark’s current portfolio consists of 113 products authorized for distribution in the U.S. marketplace and 63 ANDA’s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
source:ventura

 

Redington India’s arm hikes stake in Linkplus to 80%

RGF has acquired additional 10% stake in Linkplus for a consideration of $1.15 million

Redington Gulf FZE (RGF), a step down subsidiary of Redington (India) has acquired additional 10% stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus) for a consideration of $1.15 million. Consequently, the total stake of RGF in Linkplus is 80%.

The balance 20% shares will be purchased on equitable basis during CY16 and CY17 at a P/E multiple of 5X. Last year in November, RGF has entered into a definitive agreement to acquire 70% stake in Linkplus.

Redington is one amongst the top supply chain solution providers worldwide to over 100 leading manufacturers of Information Technology, Telecom, Lifestyle and Consumer Electronics Products.
source:ventura

 

Dr Reddy’s recalls over 50,000 bottles of Ondansetron table

Ondansetron tablets are used for prevention of nausea and vomiting associated with cancer chemotherapy

Dr Reddy’s Laboratories has recalled 50,280 bottles of Ondansetron tablets 4 mg made at the company’s Bachupally plant in India, on account of failed impurities/ degradation specifications. The ongoing recall was initiated on March 30, 2016.

Ondansetron tablets are used for prevention of nausea and vomiting associated with cancer chemotherapy, radiation treatment or surgery.

Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. Dr. Reddy's manufactures and markets a wide range of pharmaceuticals in India and overseas.
source:ventura

 

Tata Power’s arm bags 100 MW solar project in Karnataka under National Solar Mission

TPREL has received the LoI to develop the projects and will sign a 25 year PPA with NTPC Vidyut Vyapar Nigam

Tata Power’s 100% subsidiary - Tata Power Renewable Energy (TPREL) has won two solar grid connected photovoltaic projects of 50 MW capacity each in Pavagada Solar Park in the Tumkur district of Karnataka.

The projects have been awarded through open category under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase-II Batch-II Tranche-I under ‘State Specific Bundling Scheme’. TPREL has received the Letter Of Intent (LoI) to develop the projects and will sign a 25 year Power Purchase Agreement (PPA) with NTPC Vidyut Vyapar Nigam.

Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
source:ventura

 

Just Dial reports 25% fall in Q4 net profit

Total income of the company increased by 6.34% at Rs 195.15 crore crore for quarter under review

Just Dial has reported results for the fourth quarter and year ended March 31, 2016.

The company has posted a fall of 25.08% in its net profit at Rs 35.33 crore for the quarter ended March 31, 2016 as compared to Rs 47.16 crore for the same quarter in the previous year. However, total income of the company has increased by 6.34% at Rs 195.15 crore for quarter under review as compared to Rs 183.51 crore for the quarter ended March 31, 2015.

For the year ended March 31, 2016, the company has posted a rise of 2.10% in its net profit at Rs 141.8 crore as compared to Rs 138.89 crore for the same period in the previous year.Total income of company has increased by 17.32% at Rs 749.32 crore for year under review as compared to Rs 638.65 crore for the period ended March 31, 2015.

For the year ended March 31, 2016, on the consolidated basis, the company has posted a rise of 2.17% in its net profit at Rs 141.85 crore as compared to Rs 138.84 crore for the same period in the previous year. Total income of company has increased by 17.32% at Rs 749.32 crore for year under review as compared to Rs 638.69 crore for the period ended March 31, 2015.
source: ventura

 

ITC reports 6% rise in Q4 net profit

Total income of the company increased by 9.49% at Rs 10580.33 crore for quarter under review

ITC has reported results for the fourth quarter and year ended March 31, 2016.

The company has posted a rise of 5.68% in its net profit at Rs 2495.2 crore for the quarter ended March 31, 2016 as compared to Rs 2361.18 crore for the same quarter in the previous year. Total income of the company has increased by 9.49% at Rs 10580.33 crore for quarter under review as compared to Rs 9663.15 crore for the quarter ended March 31, 2015.

For the year ended March 31, 2016, the company has posted a rise of 2.47% in its net profit at Rs 9844.71 crore as compared to Rs 9607.73 crore for the same period in the previous year. Total income of company increased 1.55% at Rs 38641.13 crore for year under review as compared to Rs 38050.53 crore for the period ended March 31, 2015.

For the year ended March 31, 2016, on the consolidated basis, the company has posted a rise of 2.57% in its net profit after taxes, minority interest and share of profit/(loss) of associates at Rs 9911.61 crore as compared to Rs 9663.17 crore for the same period in the previous year. Total income of company has increased by 2.21% at Rs 40975.75 crore for year under review as compared to Rs 40091.32 crore for the period ended March 31, 2015.
source: ventura