LATEST BUSINESS NEWS

JM FINANCE Q2 cons PAT Rs.97cr vs Rs.92cr yoy, vs Rs.72cr qoq

 

Today Quarterly Results :

3MINDIA , AJANTPHARM , APOLLOTYRE, ATUL , CENTENKA, CENTURYTEX ,ELGIEQUIP,
ELNET, GUJALKALI , ICICIBANK, IFBIND ,INDOCO ,IONEXCHANG ,IPCALAB ,ITC ,JAGRAN ,
JINDRILL ,JMCPROJECT , JSWHL ,KOTAKBANK , KTK BANK , MERCK ,MUNJALSHOW ,NOCIL ,
ORIENTPPR ,PHOENIXTN ,SUNDARMFIN ,SUZLON ,TANLA ,TITAN ,TTML ,UTTAMSTL ,VINYLINDIA ,
ZUARI ,ZUARIGLOB ,ZODJRDMKJ,

 

Cipla inks definitive agreement to sell its entire 25% stake in BHL for $25.77 million

The company will sell its stake to Biomab Brilliant, British Virgin Islands which holds the remaining 75% stake in BHL
Cipla has entered into a definitive agreement to sell its entire 25% stake in Biomab Holding, Hong Kong (BHL) to Biomab Brilliant, British Virgin Islands which holds the remaining 75% stake in BHL, for a total consideration of $25,775,000. Biomab Holding is focused on developing Biosimilars for the Chinese market. The closing of the transaction is subject to conditions precedent and receipt of applicable regulatory and other approvals.

The company’s biological business will further be consolidated under Cipla BioTec. Cipla BioTec will focus on research, development, manufacturing and marketing of Biosimilars, in the field of cancer, auto-immune diseases, respiratory diseases and diabetes.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 150 countries. Its portfolio includes 1500 plus products across therapeutic categories with one quality standard globally.
source:ventura

 

Blue Star acquires 51% stake in ‘Blue Star Oman Electro-Mechanical Company LLC’

The company has entered into a JV in MEP contracting business with W.J. Towell & Company LLC, Oman
Blue Star has entered into a Joint Venture (JV) in MEP contracting business with W.J. Towell & Company LLC, Oman, by acquiring 51% stake in the JV entity, Blue Star Oman Electro-Mechanical Company LLC.

Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.
source : ventura

 

Muthoot Finance reports marginal rise in Q2 net profit

The company’s total income has increased by 7.39% to Rs 1139.95 crore for the quarter under review
Muthoot Finance has reported results for second quarter ended September 30, 2015.

The company has reported 2.22% rise in its net profit at Rs 174.50 crore for the quarter ended September 30, 2015 as compared to Rs 170.71 crore for the same quarter in the previous year. The company’s total income has increased by 7.39% to Rs 1139.95 crore for the quarter under review from Rs 1061.52 crore for the corresponding quarter of the previous year.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.
source : ventura

 

SKF India reports 15% fall in Q3 net profit

The company’s total income has decreased by 2.42% to Rs 621.16 crore for the quarter under review
SKF India has reported results for third quarter ended September 30, 2015.

The company has reported 14.68% fall in its net profit at Rs 50.04 crore for the quarter ended September 30, 2015 as compared to Rs 58.65 crore for the same quarter in the previous year. The company’s total income has decreased by 2.42% to Rs 621.16 crore for the quarter under review from Rs 636.59 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.
source:ventura

 

Grasim Industries reports 17% surge in Q2 consolidated net profit

Total income of the company has increased by 5.40% at Rs 8479.93 crore for quarter under review
Grasim Industries has reported results for second quarter ended September 30, 2015.

The company has reported 12.97% rise its net profit at Rs 338.24 crore for the quarter ended September 30, 2015 as compared to Rs 299.41 crore for the same quarter in the previous year. The company’s total income has increased by 12.90% to Rs 2044.81 crore for the quarter under review from Rs 1811.23 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 17.32% rise in its net profit at Rs 488.50 crore for the quarter ended September 30, 2015 as compared to Rs 416.38 crore for the same quarter in the previous year. Total income of the company has increased by 5.40% at Rs 8479.93 crore for quarter under review as compared to Rs 8045.16 crore for the quarter ended September 30, 2014.
source:ventura

 

Polaris Consulting plans to sell BPO business

The company has received an in-principle approval from the Board for hiving off the BPO business
Polaris Consulting & Services (Polaris Consulting) is planning to sell its BPO business, which employs over 1000 people. The company has received an in-principle approval from the Board for hiving off the BPO business. It will not be hived-off as a Polaris subsidiary but sold to a third party. A sub-committee will be formed and an advisor will be appointed soon to carry out the sale.

Polaris Consulting is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking.
source:ventura

 

Emami reports 33% fall in Q2 consolidated net profit

Total income of the company has increased by 16.47% at Rs 587.54 crore for quarter under review
Emami has reported results for second quarter ended September 30, 2015.

The company has reported 47.61% fall its net profit at Rs 46.69 crore for the quarter ended September 30, 2015 as compared to Rs 89.12 crore for the same quarter in the previous year. However, the company’s total income has increased by 14.84% to Rs 527.16 crore for the quarter under review from Rs 459.02 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 32.98% fall in its net profit after taxes and Minority Interest and Share of Profit / (Loss) of Associates at Rs 61.34 crore for the quarter ended September 30, 2015 as compared to Rs 91.52 crore for the same quarter in the previous year. However, total income of the company has increased by 16.47% at Rs 587.54 crore for quarter under review as compared to Rs 504.47 crore for the quarter ended September 30, 2014.
source:ventura

 

Crompton Greaves reports 25% fall in Q2 consolidated net profit

Total income of the company has decreased by 7.17% at Rs 3235.65 crore for quarter under review
Crompton Greaves has reported results for second quarter ended September 30, 2015.

The company has reported 7.46% rise in its net profit at Rs 134.36 crore for the quarter ended September 30, 2015 as compared to Rs 125.03 crore for the same quarter in the previous year. However, the company’s total income has decreased marginally by 1.54% to Rs 1933.76 crore for the quarter under review from Rs 1964.04 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 25.08% fall in its net profit after taxes, minority interest and share of profit/(loss) of associates at Rs 52.14 crore for the quarter ended September 30, 2015 as compared to Rs 69.59 crore for the same quarter in the previous year. Total income of the company has decreased by 7.17% at Rs 3235.65 crore for quarter under review as compared to Rs 3485.49 crore for the quarter ended September 30, 2014.
source:ventura

 

Glenmark receives tentative ANDA approval for Lacosamide Tablets

It will market this product upon receiving final approval of its Lacosamide Tablets, 50 mg, 100 mg, 150 mg and 200 mg ANDA
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (USFDA) for its Lacosamide Tablets, 50 mg, 100 mg, 150 mg and 200 mg, the generic version of Vimpat Tablets, 50 mg, 100 mg, 150 mg and 200 mg of UCB, Inc. Glenmark will market this product upon receiving final approval of its Lacosamide Tablets, 50 mg, 100 mg, 150 mg and 200 mg ANDA. The patent listed in the Orange Book for Vimpat Tablets, 50 mg, 100 mg, 150 mg and 200 mg is scheduled to expire on March 17, 2022.

The Vimpat market achieved annual sales of approximately $691.0 million, according to IMS Health sales data for the 12 month period ending September 2015.

Glenmark’s current portfolio consists of 102 products authorized for distribution in the US marketplace and 64 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

 

Hindustan Construction Company reports over fivefold jump in Q2 net profit

The company’s total income has increased 1.77% to Rs 979.79 crore for the quarter under review
Hindustan Construction Company (HCC) has reported results for second quarter ended September 30, 2015.

The company has reported over fivefold jump in its net profit at Rs 38.44 crore for the quarter ended September 30, 2015 as compared to Rs 6.76 crore for the same quarter in the previous year. The company’s total income has increased 1.77% to Rs 979.79 crore for the quarter under review from Rs 962.71 crore for the corresponding quarter of the previous year.

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

 

Mahindra First Choice Services to expand footprint in Odisha

The company envisions great potential for the multi-brand car servicing business in Odisha and invites applications for franchisee partnerships

Mahindra & Mahindra’s (M&M) wholly owned subsidiary -- Mahindra First Choice Services (MFCS), India’s leading chain of multi-brand car service workshops, is planning to expand its footprint in Odisha. MFCS’s growth plans for the state envisage 30 new workshops by March 2016. The company envisions great potential for the multi-brand car servicing business in Odisha and invites applications from existing OEM dealers, independent car workshops, and other automobile related businesses as well as from those currently engaged in non-auto businesses in Angul, Balangir, Balasore, Barbil, Bargarh, Baripada, Berhampur, Bhadrak, Bhubaneswar, Chandikhol, Choudwar, Cuttack, Debagarh, Dhenkanal, Jagatsinghpur, Jajpur, Jharsuguda, Kendrapara, Keonjhar, Mayurbhanj, Nalconagar Nayagarh, Panikoili, Paradip, Pattamundai, Puri, Rourkela, Sambalpur, Sonepur, Subarnapur, Sundargarh, Talcher and nearby towns, for franchisee partnerships.

MFCS provides franchise partners with a high level of support, right from helping them design workshop layouts to ensuring optimum utilization of land and resources and also helps them select the right manpower and workshop staff, who are trained at the company’s ‘Yellow Spanner Academy’ and technical training centres in Noida and Bengaluru.

In last one year, MFCS appointed more than 190 franchisees, of which 59 workshops are already up and the balance are scheduled to commence operations in the next 3-4 months. MFCS expands its network in clusters with each cluster comprising a geographical region of around 250-300 kms radius. Each cluster has a ‘cluster warehouse’ which supplies spares to all the workshops in that particular cluster. Currently, the company operates clusters in Chennai, Coimbatore, Madurai, Kochi, Bangalore, Hyderabad, Vijayawada, Mumbai, Pune, Nagpur & NCR.
source:ventura

 

Nse MOTHERSUMI 1.55 lacs @ 252.60 value 3.93 crs (BULK / BLOCK DEALS)

 

Redington (India) reports 12% rise in Q2 consolidated net profit

Total income of the company has increased by 8.01% at Rs 8391.39 crore for quarter under review
Redington (India) has reported results for second quarter ended September 30, 2015.

The company has reported 20.17% rise its net profit at Rs 52.84 crore for the quarter ended September 30, 2015 as compared to Rs 43.97 crore for the same quarter in the previous year. The company’s total income has increased by 8.74% to Rs 3073.67 crore for the quarter under review from Rs 2826.67 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 12.41% rise in its net profit after taxes, Share of loss of Associate and minority interest at Rs 96.62 crore for the quarter ended September 30, 2015 as compared to Rs 85.95 crore for the same quarter in the previous year. Total income of the company has increased by 8.01% at Rs 8391.39 crore for quarter under review as compared to Rs 7769.37 crore for the quarter ended September 30, 2014.
source:ventura

 

MRPL reports net loss of Rs 909.51 crore in Q2

The company’s total income has decreased by 35.03% to Rs 10461.20 crore for the quarter under review
Mangalore Refinery and Petrochemicals (MRPL) has reported results for second quarter ended September 30, 2015.

The company has reported a net loss of Rs 909.51 crore for the quarter ended September 30, 2015 as compared to a net loss of Rs 951.47 crore for the same quarter in the previous year. The company’s total income has decreased by 35.03% to Rs 10461.20 crore for the quarter under review from Rs 16101.42 crore for the corresponding quarter of the previous year.

MRPL, a subsidiary of state-run exploration firm Oil and Natural Gas Corporation (ONGC), runs a coastal refinery in southern Karnataka state with a capacity of 300,000 bpd.
source:ventura

 

ITC Q2 PAT Rs.2431cr vs Rs.2425cr yoy, vs Rs.2265cr qoq

 

Sonata to showcase its Enterprise Digital Transformation technologies for the Travel industry at WTM London

The company will showcase how Digital Transformation can help Travel Providers create a clear edge over competition in delivering a Seamless Travel Experience to their customers
Sonata Software, a leading technology services and solutions company, will be participating as an exhibitor at the World Travel Market event in London being held from November 2nd to 5th 2015.

At the event, the company will showcase how Digital Transformation can help Travel Providers create a clear edge over competition in delivering a Seamless Travel Experience to their customers. Rezopia, an award-winning cloud based travel technology platform from the company helps travel companies to manage reservations, contracts, operations and distribution management on a single SaaS platform. With offerings in Omni channel commerce, Mobility, Analytics, CRM and ERP, the company manages to deliver end-to-end solutions for the Travel Provider.

Sonata Software is a global IT services firm focused on catalysing transformational IT Initiatives of Its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers innovative new solutions for Travel, Retail & Consumer Goods and Software Product Companies by integrating technologies such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP, to drive enhanced customer engagement, operations efficiency and return on IT investments.
source:ventura

 

Nse DABUR 5.02 lacs @ 271 value 13.60 crs (BULK /BLOCK DEAL)

 

Nse GLENMARK 1.75 lacs @ 983.05 value 17.25 crs (BULK /BLOCK DEAL)