LATEST BUSINESS NEWS

TATA ELXSI Q1 PAT Rs.42cr vs Rs.36cr yoy, vs Rs.41cr qoq

 

L G BALAKRISHNA Q1 PAT Rs.9.5cr vs Rs.9cr yoy

 

Eveready eyes to make its Assam facility operational by March 2017

The company’s new manufacturing plant with an annual capacity of 400 million batteries will come up at Goalpara in Assam

Eveready Industries is eyeing to make operational its Rs 100 crore plant at Assam by March. The company’s new manufacturing plant with an annual capacity of 400 million batteries will come up at Goalpara in Assam.

The company has an existing capacity of over 1.3 billion pieces across manufacturing facilities in Kolkata, Chennai, Haridwar, Maddur (near Bengaluru), Noida and Lucknow.

Eveready Industries India (formerly known as Union Carbide India) is engaged in the manufacture of dry cell batteries and flashlights. It also manufactures tea under the brands Tez, Jaago, Premium Gold and Classic and insect repellents under the brand Eveready Poweron. The company was founded in 1905 and is based in Kolkata, West Bengal.
source: ventura

 

source : https://www.livemint.com/Companies/iicvIYFijqp9VRAx0ON46I/Flipkarts-Myntra-acquires-Jabong.html

Flipkart’s Myntra acquires Jabong
Myntra beats Snapdeal and other suitors to clinch the deal, the financial details for which have not been made public yet

Shrutika Verma

Jabong, which matched larger rival Myntra in sales until early 2014, has ceded market share since then, as Myntra’s parent Flipkart has been spending crores of rupees on advertisements and discounts to lure customers. Photo: Bloomberg
New Delhi: In a move to maintain its position as the market leader, Flipkart Ltd has acquired online fashion portal Jabong through its unit Myntra, ahead of other suitors such as Snapdeal.

Financial details of the deal were not made public.

Global Fashion Group (GFG), which owns Jabong, has been looking for a buyer for more than a year now. GFG held discussions with several firms, including Snapdeal, Future Group, Aditya Birla Group and Amazon.

“Fashion and lifestyle is one of the biggest drivers of e-commerce growth in India. We have always believed in the fashion and lifestyle segment and Myntra’s strong performance has reinforced this faith. This acquisition is a continuation of the group’s journey to transform commerce in India. I am happy that we will now be able to offer to millions of customers a wide variety of styles, products and a broad assortment of global as well as Indian brands,” said Binny Bansal, co-founder of Flipkart.

Jabong offers more than 1,500 international high-street brands, sports labels, Indian ethnic and designer labels and over 150,000 styles from over a thousand sellers.

“Jabong has built a strong brand that is synonymous with fashion, a loyal customer base and a unique selection with exclusive global brands. The acquisition of Jabong is a natural step in our journey to be India’s largest fashion platform. We see significant synergies between the two companies, especially on brand relationships and consumer experience,” said Ananth Narayanan, chief executive, Myntra.

Jabong, which matched larger rival Myntra in sales until early 2014, has ceded market share since then, as Myntra’s parent Flipkart has been spending crores of rupees on advertisements and discounts to lure customers.

At the end of May, Jabong reported a 14% increase in revenue to €32.6 million for the March quarter. The Gurgaon-based firm’s adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) loss narrowed to €11.9 million from €16.3 million in the same quarter a year earlier.

In the past year, the company has witnessed an exodus in its senior management, a funding slowdown and strong competition from Myntra and Amazon India.

In September 2014, Rocket Internet merged Jabong with four other online fashion retailers in Latin America, Russia, the Middle East, South-east Asia and Australia to create GFG.

GFG, which is jointly owned by Rocket Internet and Kinnevik, houses the German e-commerce company’s fashion businesses from emerging countries, including Jabong, Latin America’s Dafiti, Russia’s Lamoda, Namshi in the Middle East and Zalora in South-east Asia and Australia.

Earlier this month, Jabong expedited its sale process as the firm’s owners, AB Kinnevik and Rocket Internet, were reluctant to pump in more capital into the company in a gloomy e-commerce market.

The valuation of GFG, which was €3.1 billion in July 2015, slid to $1.13 billion (€1 billion) after barely 10 months. In May, GFG said it raised $339 million (€300 million) from Kinnevik and Rocket Internet at a valuation that was a third below the previous round’s.

Shrutika Verma

 

Indiabulls Housing Finance Q1 profit rises 23% to Rs630 crore
The profit was driven by a 31% loan growth, of which home loan grew by 38%, says the company

source: livemint

 

Today (27.07.17) foll cos. will declare Q1 results :Castrol India, SSWL, YES Bank, Torrent Pharma, Sagar Cements, RPG Life, Shriram Transport Finance, NOCIL, SCI, JSW Steel, Lumax Auto Tech, HDFC, International Paper, Indian Hume, GIC Housing, Everest Ind, Bliss GVS, Bharti Airtel, Dabur India, Bajaj Holdings, Bajaj Auto, AgroTech Foods, Asian Paints
source: ventura

 

PI Industries reports 48% jump in Q1 net profit

The company’s total income increased by 15.65% to Rs 694.67 crore for the quarter under review

PI Industries has reported results for first quarter ended June 30, 2016.

The company has reported 47.73% rise in its net profit at Rs 126.86 crore for the quarter ended June 30, 2016 as compared to Rs 85.87 crore for the same quarter in the previous year. The company’s total income increased by 15.65% to Rs 694.67 crore for the quarter under review from Rs 600.69 crore for the corresponding quarter of the previous year.

PI Industries focuses on Agri-Input and Custom Synthesis with strength of over 1,400 employees. PI Industries currently operates three formulation and two manufacturing facilities as well as five multi-product plants under its three manufacturing locations across Jammu and Gujarat.
source:ventura

 

United Spirits reports over three fold jump in Q1 net profit

The company’s total income increased by 9.63% to Rs 2061.90 crore for the quarter under review

United Spirits has reported results for the first quarter ended June 30, 2016.

The company has reported over three fold jump in its net profit at Rs 43.80 crore for the quarter ended June 30, 2016 as compared to Rs 11.61 crore for the same quarter in the previous year. The company’s total income increased by 9.63% to Rs 2061.90 crore for the quarter under review, from Rs 1880.72 crore for the corresponding quarter of the previous year

United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
source:ventura

 

ACC’s Q2 consolidated net jumps 79%

Total Income of the company decreased by 3.23% to Rs 2939.05 crore for quarter under review

ACC has reported results for second quarter ended June 30, 2016.

The company has reported 80.98% rise in its net profit at Rs 237.83 crore for the quarter ended June 30, 2016 as compared to Rs 131.41 crore for the same quarter in the previous year. However, the company’s total income decreased by 3.20% to Rs 2938.46 crore for the quarter under review from Rs 3038.70 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 79.17% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 239.12 crore for the quarter ended June 30, 2016 as compared to Rs 133.46 crore for the same quarter in the previous year. However, total Income of the company decreased by 3.23% to Rs 2939.05 crore for quarter under review from Rs 3037.12 crore for the quarter ended June 30, 2015.
source:ventura

 

Neuland Laboratories enters into JDA with Phoenix Embassy Techno Zone

The company would be entitled to receive approximately 23% share of the total saleable area of the project

Neuland Laboratories has entered into a Joint Development Agreement (JDA) with Phoenix Embassy Techno Zone for development of the land owned by the company at Nanakramguda near Hyderabad. The company would be entitled to receive approximately 23% share of the total saleable area of the project, which would be determined upon approval of the building plans by the appropriate authorities.

Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services. It supplies to pharmaceutical companies across India, Europe and North America amongst others with a presence in over 85 countries. The company has two manufacturing facilities in Hyderabad, Telangana.
source:ventura

 

Bharti Infratel’s Q1 consolidated net profit registers 71% growth

Total Income of the company increased by 4.31% to Rs 1468.70 crore for the quarter under review

Bharti Infratel has reported results for first quarter ended June 30, 2016.

The company has reported over six fold jump in its net profit at Rs 1476.90 crore for the quarter ended June 30, 2016 as compared to Rs 240.20 crore for the same quarter in the previous year. The company’s total income increased by 71.85% to Rs 2419.70 crore for the quarter under review, from Rs 1408.00 crore for the corresponding quarter of the previous year

On the consolidated basis, the company has reported 70.93% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 756.20 crore for the quarter ended June 30, 2016 as compared to Rs 442.40 crore for the same quarter in the previous year. Total Income of the company increased by 4.31% to Rs 1468.70 crore for the quarter under review from Rs 1408.00 crore for the same quarter ended June 30, 2015.
source:ventura

 

SHRIRAM TRANSPORT FINANCE Q1 PAT Rs.374cr vs rs.321cr yoy, vs Rs.144cr qoq

 

SSWL Q1 PAT Rs.19cr vs Rs.12cr yoy, vs Rs.18cr qoq

 

HDFC Q1 PAT Rs.1871cr vs Rs.1361cr yoy, vs Rs.2607cr qoq

 

NOCIL Q1 PAT Rs.23cr vs Rs.17cr yoy, vs Rs.23cr qoq

 

Dabur India reports 12% rise in Q1 consolidated net profit

Total Income of the company increased by 1.77% to Rs 1989.44 crore for quarter under review

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

The company has reported 14.19% rise in its net profit at Rs 198.37 crore for the quarter ended June 30, 2016 as compared to Rs 173.72 crore for the same quarter in the previous year. The company’s total income increased by 1.07% to Rs 1333.56 crore for the quarter under review from Rs 1319.48 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 11.82% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 292.80 crore for the quarter ended June 30, 2016 as compared to Rs 261.84 crore for the same quarter in the previous year. Total Income of the company increased by 1.77% to Rs 1989.44 crore for quarter under review from Rs 1954.79 crore for the quarter ended June 30, 2015.
source: ventura

 

DABUR Q1 cons PAT Rs.293cr vs Rs.261cr yoy, vs Rs.332cr qoq

 

GREENLAM Q1 PAT Rs.9cr vs Rs.6cr yoy

 

Today (28.07.16) foll cos. will declare Q1 results :

Ceat, Deep Ind, Dish TV, Blue Dart Exp, Adlabs Ent, Ador Welding, Advani Hotels, Ajmera Realty, Excel Crop, Fag Bearings, Fedder Lloyd, HCC, Gandhi Special, Glaxosmithkline Pharma, Grindwell Norton, Eicher Motors, GSFC, Gujarat Alkalies, Escorts, Hexaware, L&T Infotech, Mahindra Lifespace, Muthoot Finance, KCP Sugar, Sintex Ind, Somany Ceramics, SQSBFSI, PNB , Shriram City Union, TNPL, Tree House, Welspun Corp, Wabco India, Supreme Ind, Suryalaxmi Cotton, Syndicate Bank
source: ventura

 

Today (29.07.16) foll cos. will go ex dividend:

Britannia Ind Rs.20, Control Print Rs.2, DCM Shriram Rs.0.8, Federal Bank Rs.0.70, IL&FS Investment Manager Rs.1.2, IL&FS Transportation Rs.2, Laksmi Electrical Rs.8, Simplex Realty Rs.1, Skipper Rs.1.40, TCPL Packaging Rs.7.35, Zuari Global Rs.1
source: ventura