LATEST BUSINESS NEWS

Huge fall is there in Infosys of 9%

 

Because of Europe problem and lack of future business expectations may be big cause i think

 

Ashok Leyland plans to set up bus assembly plant in Kenya

The new plant in Kenya will serve at least three neighbouring countries, besides catering to local demand

Ashok Leyland is planning to set up a bus assembly plant in Kenya as part of its global expansion plans. In this regard, the company will invest Rs 70 crore. The new plant in Kenya will have an annual capacity of 1,200 buses and will be serving at least three neighbouring countries, besides catering to local demand.

The company already has a manufacturing facility at Ras Al Khaimah in the UAE, which was set up as a joint venture with the Ras Al Khaimah Investment Authority (RAKIA).

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.

source: ventura

 

Today (18.07.16) foll cos. will declare Q1 results : Aro Granites, JP Power, MindTRee, Onward Tech, Hindustan Unilever, Hinduja Foundries, Gruh Finance, Exide Ind, Bharat Bijlee
source: ventura

 

Jaiprakash Power to consider transfer of Bina power asset to subsidiary
Jaiprakash Power’s board of directors will meet to decide on the proposed hive-off and transfer of its Bina thermal power plant to a subsidiary

source:
https://www.livemint.com/Industry/z...consider-transfer-of-Bina-power-asset-to.html

 

ARO GRANITE Q1 PAT Rs.5cr vs Rs.1.4cr yoy

 

source: https://www.livemint.com/Companies/...r-reports-higherthanexpected-Q1-net-loss.html

Jaiprakash Power reports higher-than-expected Q1 net loss
Jaiprakash Power Ventures reported a standalone net loss of Rs196.16 crore in the June quarter, against a Rs66.96 crore net profit a year ago

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Shailaja Sharma

Jaiprakash Power has a total generation capacity of 2220 MW comprising 400 MW of hydropower and 1820 MW of thermal power.
Mumbai: Jaiprakash Power Ventures Ltd on Monday reported a standalone net loss of Rs.196.16 crore in the June quarter, against a Rs.66.96 crore net profit a year ago, as costs rose and power generation fell.

The power producer said standalone net sales in the first quarter fell 37.8% to Rs.750.41 crore from Rs.1,207.40 crore a year earlier. The figures were far worse than a net loss of Rs.74.8 crore on net sales of Rs.904.1 crore estimated by one analyst polled by Bloomberg.

The figures are not comparable with the year-earlier quarter, Jaiprakash Power said, since two of the plants which brought revenue last year—the 300 MW Baspa plant and 1091 MW Karcham Wangtoo plant—have since been sold to JSW Energy Ltd.

Restricted operations of the Nigrie super thermal plant, higher costs at the Amelia coal mine and cheaper merchant power hurt the company, Jaiprakash Power said in a statement.

Lower demand depressed power generation at the Bina thermal plant, Jaiprakash Power said. Total expenses during the quarter rose about 21% to Rs.567.65 crore from Rs.468.90 crore a year ago.

The results include revenues from the 400 MW Vishnuprayag plant, the 500 MW Bina thermal power plant, the 1320 MW Nigrie super thermal power plant, the Nigrie cement grinding unit, and the Amelia coal mine.

Jaiprakash Power has a total generation capacity of 2220 MW comprising 400 MW of hydropower and 1820 MW of thermal power.

The company’s shares closed up 2.88% at Rs.6.07 each on the BSE on Monday. The results were announced after market hours.

Shailaja Sharma

 

source: https://www.livemint.com/Money/x8hr...sults-Recovery-eludes-Hindustan-Unilever.html

Q1 results: Recovery eludes Hindustan Unilever
Hindustan Unilever’s June quarter results have dashed hopes of any recovery in volume growth

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Ravi Ananthanarayanan

HUL’s fight to retain market share in soaps is taking a toll on both revenue and profit growth. Graphic: Ajay Negi/Mint
Hindustan Unilever Ltd’s (HUL’s) June quarter results have dashed hopes of any recovery in volume growth. Investors would be disappointed with the tepid growth in price realizations, too, although rising commodity prices leave hope for a bounce, some way down the road.

HUL’s volume growth in the June quarter was 4%, the same as the March quarter. In value terms, sales grew by 2.9%, compared with 3.4% in the previous quarter. This is based on a like-to-like comparison; as per the new IND-AS accounting standard, the June quarter’s value sales growth was reported as 3.6%.

HUL’s fight to retain market share in soaps is taking a toll on both revenue and profit growth. From this quarter, the company has included soaps in the personal care segment, which has dulled the edge of the otherwise well-performing segment. The segment’s revenue grew by 2.1% while profit grew by just 0.3%. Soaps accounted for 19% of total revenues in fiscal year 2016.

The home care segment (detergents and household products) did far better, with sales rising by 6.8% from a year ago and profit by 22.7%. In the detergents segment, both premium and mass products did well. But evidently, the good show of this segment wasn’t enough to revive overall growth.

Helpfully for the company, material costs declined by 1% over a year ago, despite the increase in volumes. As a result, its Ebitda (earnings before interest, taxes, depreciation and amortization) rose by 8.2% from a year ago. Again, this isn’t much to get excited about, although it’s heartening that core profit grew at twice the rate at which volumes increased. But thanks to a sharp jump in depreciation, profit before tax grew by just 5.7%, while exceptional items were responsible for the higher 9.8% increase in net profit. Coming on the back of the 7% increase in pre-tax profit in FY16, the new fiscal year is also off to a poor start.

What next? The demand situation continues to be a difficult one. Despite shying away from price increases, volume growth is not picking up. While both rural and urban growth rates are under pressure, the former is faring worse. This fiscal year may see rural demand benefit if good monsoon rains result in a better agricultural output. Rural demand also depends on other sources such as work in factories and on construction sites. Urban demand may see some benefit from a hike in central government pay, especially in demand for premium products. An all-round increase in demand appears elusive though.

One factor holds promise, although it hurts consumers’ purses. HUL has flagged a bottoming-out of commodity prices. Even in the June quarter, the sequential decline in commodity costs as a percentage of sales was a mere 17 basis points. A basis point is 0.01%. Although this means costs can increase, its superior purchasing power gives it an edge. Therefore, a return of some pricing power can still deliver better sales and earnings growth than currently visible. Its shares have risen by 11% since 20 May. Nothing in its results appears to support this optimism. It isn’t surprising that HUL’s shares fell by 2.04% on Monday after its results came out, just minutes before the markets closed.

The writer does not own shares in the above-mentioned companies.

Ravi Ananthanarayanan

 

Today (19.07.16) foll cos. will declare Q1 results : Crisil, Ultratech Cement, Wipro, Linde India, MPS Ltd.
source: ventura

 

Tomorrow (20.07.16) foll cos. will declare Q1 results :
Crompton Greaves, Sasken, R S Software, SKF Ind,SCI, Kitex Garments,KEI Ind,Kabra Extrusion,Plastiblend Lakshmi Vilas Bank, Nucleus Software,KPIT, Hind Zinc, IFB Agro,Gammon India,Foseco Ind,DHFL
source: ventura

 

Tomorrow (20.07.16) foll stocks will go ex dividend : Alembic Pharma Rs.4, AstraMicrowave Rs.1.2, Dr. Lal Pathlabs Rs.2.45, Goodricke Group Rs.4, HIL Rs.10, Indoco Remedies Rs.0.20, Karnataka Bank Rs.5,
Mahindra Lifespace Rs.6, Panasonic Energy Rs.7, Shriram City Union Rs.10, Suryalaxmi Cotton Rs.1.80, Swelect Energy Rs.1, Tube Inv Rs.3.50
source: ventura

 

Macquarie sells its entire 5.69% stake in Gati: Report

The Sydney-based global lender sold its entire holding in the logistics company at a WAP of Rs 176 per equity share

The Australian investment bank Macquarie Bank has reportedly offloaded its entire 5.69% stake in Gati as the legal battle between the Hyderabad-headquartered company and Goldman Sachs -- over the conversion of outstanding bonds into a significant equity stake in the company - threatens to snowball into a full-blown legal war.

Macquarie Bank, on July 15, sold its entire 50 lakh shares, aggregating 5.69% of the paid-up capital in Gati, in the open market. The Sydney-based global lender sold its entire holding in the logistics company at a weighted average price (WAP) of Rs 176 per equity share, netting around Rs 88 crore from the sale.

Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo.
source: ventura

 

NALCO inks MoU for higher production, financial targets

The target for revenue from operations, excluding excise duty, has been fixed at Rs 7,100 crore

National Aluminium Company (NALCO), the Navratna PSU, has signed a Memorandum of Understanding (MoU) with the Ministry of Mines, Government of India regarding financial and non-financial targets for the FY 2016-17. The MoU was formulated as per the new DPE guidelines and finalized after discussions with both Inter-Ministerial Committee as well as Ministry of Mines.

As per the MoU, the target for revenue from operations, excluding excise duty, has been fixed at Rs 7,100 crore. The MoU has also set higher targets for production of both alumina and aluminium as compared to the previous fiscal. Nalco has set an annual production target of 21.30 lakh tonnes (LT) of alumina and 3.85 LT of aluminium. The company had produced 19.53 LT of alumina and 3.72 LT of aluminium in 2015-16.

The company has also set a capex target of Rs 1,021 crore, which includes projects like development of Utkal D & E Coal Blocks, Wind Power Projects of 50 MW each in Maharashtra and Rajasthan, addition of 5th stream in the existing Alumina Refinery at Damanjodi, Koraput, a 20 MW Solar Power Project in Madhya Pradesh and other modernization activities.
source: ventura

 

Tata Steel to raise Rs 10,000 crore through private placement

The company will approach its shareholders at its annual general meeting scheduled on August 12, 2016

Tata Steel, the flagship company of the Tata Group, is planning to raise up to Rs 10,000 crore through various debt securities including redeemable non-convertible debentures (NCDs). The company will approach its shareholders at its annual general meeting scheduled on August 12, 2016.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
source:ventura

 

Today (20.07.16) foll cos. will declare Q1 results :

Crompton Greaves, Sasken, R S Software, SKF Ind,SCI, Kitex Garments,KEI Ind,Kabra Extrusion,Plastiblend Lakshmi Vilas Bank, Nucleus Software,KPIT, Hind Zinc, IFB Agro,Gammon India,Foseco Ind,DHFL

source: ventura

 

Aurobindo Pharma receives USFDA approval for Rosuvastatin Calcium Tablets

Rosuvastatin Calcium Tablets is an antihyperlipidemic to prevent cardiovascular disease

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Rosuvastatin Calcium Tablets, 5 mg (base), 10 mg (base), 20 mg (base) and 40 mg (base). Aurobindo was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification, therefore, Aurobindo is eligible for 180 days of generic drug shared exclusivity. The product is launched in the US market.

The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) CRESTOR (rosuvastatin calcium) Tablets 5 mg, 10 mg, 20 mg and 40 mg of IPR Pharmaceuticals Inc.

Rosuvastatin Calcium Tablets is an antihyperlipidemic to prevent cardiovascular disease. It is used to reduce elevated total-C, LDL-C, ApoB, non HDL-C, and TG levels and to increase HDL-C in patients with primary hypercholesterolemia and mixed dyslipidemia. The approved product has an estimated market size of $6.7 billion for the twelve months ending May 2016 according to IMS.

This is the 112th ANDA (including 19 tentative approvals) to be approved out of Unit III formulation facility in Hyderabad, India for manufacturing Oral Non-Antibiotic products. Aurobindo now has a total of 274 ANDA approvals (234 final approvals including 13 from Aurolife Pharma LLC and 40 tentative approvals) from USFDA.
source: ventura

 

TODAY QUARTERLY RESULT :

Today (21.07.16) foll cos. will declare Q1 results : Cairn India, Chemfab Alkalies, Ashok Leyland, D B Corp, Bharat Financial Inclusion, Diamond Power, Biocon, ABB India, GNFC, IFB Ind, HDFC Bank, Heidelberg Cement, Hindalco, ITC, Motilal Oswal, JSW Energy, Kirloskar Bros, Kotak Mah Bank, SBBJ, Raymond, Tinplate, Syngene, Zensar Tech, Rane Brake
source: ventura

 

Tomorrow (22.07.16) foll stocks will go ex dividend :
Ador Fontech Rs.3.50, Bengal Tea Rs.0.50, NIIT Tech Rs.10, Shaily Eng Rs.4, Uflex Rs.3.20, Wonderla Holidays Rs.0.5
source:ventura

 

Wipro enters into seven-year strategic IT, Business transformation partnership with GTAA

This partnership will transform airport operations, run an integrated service delivery using airport best practices, create opportunities for joint innovation etc.

Wipro has entered into a seven-year strategic IT and Business transformation partnership with the Greater Toronto Airports Authority (GTAA). The company was selected as the finalist vendor following a competitive procurement process. GTAA operates Toronto Pearson International Airport, the largest airport in Canada and the second largest in North America in terms of international traffic.

This partnership will transform airport operations, run an integrated service delivery using airport best practices, create opportunities for joint innovation by adopting emerging technologies, and will position Toronto Pearson to evolve into the world’s leading digital airport.

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

 

HPCL gets nod for capacity expansion of Visakh Refinery to 15 MMTPA

The project involves an investment of Rs 20,928 crore and is expected to be mechanically completed within 48 months from the date of approval

Hindustan Petroleum Corporation (HPCL) has received an approval for capacity expansion of Visakh Refinery from 8.33 million metric tonnes per annum (MMTPA) to 15 MMTPA with residue up-gradation facility meeting BS VI Fuel Specification Compliance under Visakh Refinery Modernization Project (VRMP).

The project involves an investment of Rs 20,928 crore and is expected to be mechanically completed within 48 months from the date of approval. The board of directors at its meeting held on July 20, 2016 has approved for the same.

Hindustan Petroleum Corporation is a producer of motor spirit, high speed diesel and liquefied petroleum gas (LPG). The Company has two business segments: Downstream, which is engaged in refining, marketing and transportation of petroleum products, and Exploration and Production of Hydrocarbons.
source:ventura