LATEST BUSINESS NEWS

Hindustan Petroleum Corporation board approves bonus shares

Hindustan Petroleum Corporation has informed that the Board of Directors of the Company at its meeting held on July 20, 2016, has considered and recommended Increase in Authorised Share Capital to Rs.2500 crores and further recommended Capitalisation of Reserves and issue of Fully paid bonus shares in the ratio of 2 Bonus Equity Share of Rs 10 each for every 1 existing equity share of Rs 10 each subject to approval of the shareholders at the ensuing Annual General Meeting of the Company scheduled on September 08, 2016.

The above information is a part of company’s filings submitted to BSE.
source: ventura

 

Lakshmi Vilas Bank reports 51% rise in Q1 net profit

Total income of the bank increased by 11.81% at Rs 774.88 crore for quarter under review

Lakshmi Vilas Bank has reported results for first quarter ended June 30, 2016.

The bank has reported 50.75% rise in its net profit at Rs 60.69 crore for the quarter as compared to Rs 40.26 crore for the same quarter in the previous year. Total income of the bank increased by 11.81% at Rs 774.88 crore for quarter under review as compared to Rs 693.06 crore for the quarter ended June 30, 2015.

The bank’s gross NPA for the April-June quarter of the current fiscal improved to 2.14%, as compared to 2.72% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 1.30% in Q1FY17.
source: ventura

 

KOTAK BANK Q1 cons PAT Rs.1067cr vs Rs.520cr yoy, vs Rs.1057cr qoq
source: ventura

 

HEIDELBERG Q1 PAT Rs.26cr vs Rs.3cr yoy, vs Rs.24cr qoq
source: ventura

 

JSW ENERGY Q1 cons PAT Rs.366.5cr vs Rs.277cr yoy, vs Rs.305cr yoy
source: ventura

 

JB Chemicals & Pharmaceuticals fixes book closure for final dividend & AGM

JB Chemicals & Pharmaceuticals has informed that the Register of Members & Share Transfer Books of the Company will remain closed from August 16, 2016 to August 23, 2016 for the purpose of Payment of Final Dividend & 40th Annual General Meeting (AGM) of the Company to be held on August 23, 2016.

The above information is a part of company’s filings submitted to BSE.
source: ventura

 

ASHOK LEYLAND Q1 PAT Rs.291cr vs Rs.159cr yoy, vs Rs.77cr (inc exp loss of Rs.379cr ) qoq

 

HDFC BANK Q1 PAT Rs.3239cr vs Rs.2696cr yoy, vs Rs.3374cr qoq

 

Suzlon bags 58.80 MW repeat turnkey order from leading Independent Power Producer

The project comprises of 28 units of S97-120 m hybrid towers with rated capacity of 2.1 MW each and is scheduled for completion by March 2017

Suzlon Group, one of the leading global renewable energy solution providers, has won a repeat order from leading Independent Power Producer (IPP) for a 58.80 MW capacity wind power project in Madhya Pradesh, in India. The project comprises of 28 units of S97-120 m hybrid towers with rated capacity of 2.1 MW each and is scheduled for completion by March 2017.

Suzlon will be responsible for the entire project lifecycle which includes wind turbine supply, construction and commissioning as well as operations, maintenance and services of the project for a period of 12 years. The project is capable of powering 32,000 households and reducing 0.12 million tonnes of C02 emissions per annum. The S97 120m hybrid tower is a combination of the lattice and tubular towers wind turbine generator (WTG) with increased stability and reduced cost. It enables higher generation from low wind sites and yields higher return-on-investment to customers.

Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.
source: ventura

 

SBI inks MoU with IRCTC to promote rail ticketing

The MoU aims to chalk out a detailed plan for promotion of rail ticketing activities, including internet ticketing and unreserved ticketing system

State Bank of India (SBI), the country’s largest lender, has inked a Memorandum of Understanding (MoU) with Indian Railway Catering and Tourism Corporation (IRCTC) on July 18, 2016, to chalk out a detailed plan for promotion of rail ticketing activities, including internet ticketing and unreserved ticketing system.

Both will jointly explore areas of cooperation and draw up a detailed plan for promotion of rail ticketing activities. In addition, both will offer services jointly, subject to financial viability.

IRCTC is a subsidiary of the Indian Railways that handles the catering, tourism and online ticketing operations of the Indian railways.
source: ventura

 

Ambuja Cements gets CCEA’s nod to acquire 24% stake in holding firm

The deal would entail an outflow of Rs 3,500 crore

Ambuja Cements has received approval from the Cabinet Committee on Economic Affairs (CCEA) for its proposal to acquire 24 percent stake in its holding company Holcim (India) through Holderind Investment by way of subsequent reverse merger through a share swap.

The deal would entail an outflow of Rs 3,500 crore, and it would enable Lafarge Holcim group to create a linear corporate structure with Ambuja and ACC becoming parent and subsidiary, respectively.

Ambuja Cements is a part of a global conglomerate Holcim. The company has five integrated cement manufacturing plants and eight cement grinding units across the country.
source: ventura

 

Suven’s Pashamylaram Unit Successfully completes US FDA Inspection

So far Suven Life Sciences has filed 19 DMF’s and 4 ANDA’s from this facility which is FDA complaint under cGMP and continued after renewal inspection.

Suven Life Sciences, an ISO 9001, ISO 14001 and OHSAS 18001 company has undergone US FDA renewal inspection at their facility in Pashamylaram near Hyderabad for the manufacture and supply of active pharmaceutical ingredients (bulk drugs), intermediates and formulations under cGMP during April 4 to April 14, 2016.

Based on the inspection and the review thereafter US-FDA has concluded that the inspection is ‘closed’ under 21CFR20.64 (d) (3) and the agency has issued an Establishment Inspection Report (EIR) for Suven facility at Pashamylaram dtd July 15, 2016. So far Suven Life Sciences has filed 19 DMF’s and 4 ANDA’s from this facility which is FDA complaint under cGMP and continued after renewal inspection.
source: ventura

 

NHPC eyeing to raise Rs 4,500 crore on private placement basis

The company’s board will meet on July 22, 2016 to consider and approve for the same

NHPC (formerly National Hydroelectric Power Corporation) is eyeing to raise Rs 4,500 crore through corporate bonds on private placement basis. The company’s board will meet on July 22, 2016 to consider and approve for the same.

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

 

KPIT Technologies reports 30% rise in Q1 consolidated net profit

Total income of the company has increased by 5.92% at Rs 814.80 crore for Q1FY17

KPIT Technologies has reported results for first quarter ended June 30, 2016.

The company has reported 1.86% rise in its net profit at Rs 58.17 crore for the quarter ended June 30, 2016 as compared to Rs 57.11 crore for the same quarter in the previous year. Total income of the company increased by 5.40% to Rs 340.33 crore for the quarter under review from Rs 322.89 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 30.08% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 55.05 crore for the quarter ended June 30, 2015 as compared to Rs 42.32 crore for the same quarter in the previous year. Total income of the company increased by 5.92% at Rs 814.80 crore for Q1FY17 as compared to Rs 769.27 crore for the corresponding quarter previous year.
source: ventura

 

SKF India reports 30% rise in Q1 net profit

Total income of the company increased by 7.38% to Rs 725.00 crore for the quarter under review

SKF India has reported results for first quarter ended June 30, 2016.

The company has reported 29.75% rise in its net profit at Rs 60.40 crore for the quarter ended June 30, 2016 as compared to Rs 46.55 crore for the same quarter in the previous year. Total income of the company increased by 7.38% to Rs 725.00 crore for the quarter under review from Rs 675.19 crore for the corresponding quarter of the previous year.

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide.
source: ventura

 

DB CORP Q1 cons PAT Rs.104cr vs Rs.66cr yoy, vs Rs.64cr qoq

 

ABB India reports 35% rise in Q2 net profit

Total income of the company increased by 8.97% to Rs 2105.92 crore for the quarter under review

ABB India has reported results for the second quarter ended June 30, 2016.

The company has reported 34.76% rise in its net profit after tax at Rs 77.42 crore for the quarter ended June 30, 2016 as compared to Rs 57.45 crore for the same quarter in the previous year. Total income of the company increased by 8.97% to Rs 2105.92 crore for the quarter under review from Rs 1932.64 crore for the corresponding quarter of the previous year.

ABB India is a leading global technology company in power and automation that enables utility, industry and transport & infrastructure customers to improve their performance while lowering environmental impact.
source:ventura

 

D. B. Corp reports 62% rise in Q1 consolidated net profit

Total Income of the company increased by 19.39% to Rs. 574.51 crore for quarter under review

D. B. Corp has reported results for first quarter ended June 30, 2016.

The company has reported 61.64% rise in its net profit at Rs 105.02 crore for the quarter ended June 30, 2016 as compared to Rs 64.97 crore for the same quarter in the previous year. The company’s total income increased by 19.41% to Rs 574.50 crore for the quarter under review from Rs 481.13 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 61.68% rise in its net profit after taxes, minority interest and share of profit of associates and Joint Ventures at Rs. 103.96 crore for the quarter ended June 30, 2016 as compared to Rs. 64.30 crore for the same quarter in the previous year. Total Income of the company increased by 19.39% to Rs. 574.51 crore for quarter under review from Rs.481.20 crore for the quarter ended June 30, 2015.
source:ventura

 

STATE BANK OF BIKANER & JAIPUR Q1 loss Rs.222cr vs PAT of Rs.271cr yoy, vs PAT of Rs.193cr qoq

 

RANE BRAKES Q1 PAT Rs.10.5cr vs Rs.4.8cr yoy