LATEST BUSINESS NEWS

GlaxoSmithKline Pharmaceuticals reports 23% fall in Q1 net profit

Total income of the company increased by 5.46% to Rs 729.35 crore for the quarter under review

GlaxoSmithKline Pharmaceuticals has reported results for first quarter ended June 30, 2016.

The company has reported a fall of 23.13% in its net profit at Rs 72.27 crore for the quarter ended June 30, 2016 as compared to Rs 94.01 crore for the same quarter in the previous year. However, total income of the company increased by 5.46% to Rs 729.35 crore for the quarter under review, from Rs 691.58 crore for the corresponding quarter of the previous year.

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer.
source: ventura

 

SYNDICATE BANK Q1 PAT Rs.79cr vs Rs.302cr yoy, vs loss of Rs.2158cr qoq

 

Today (29.07.16) foll cos. will declare Q1 results :

Alembic Pharma, CCL Products, Gabriel, Godrej Consumer, ICICI Bank, Indoco Remedies, Heritage Foods, Hester Bio, IIFL, Dr. Lal Path, Pidilite Ind, L&T, Mahindra Holiday, Munjal Showa, Kansai Nerolac, KEC, Mercator, Narayana Hrudalaya, Karnataka Bank, SPARC, Vedanta, Quess, VST Tillers, Ujjivan, UPL, Sundaram Finance, Thirumalai Chemicals
source : ventura

 

Axis Bank inks agreement with LIC as bancassurance partner

The bank will initially distribute LIC’s life insurance products across its branches in West Bengal, Bangalore and Haryana - Panchkula

Axis Bank has inked an agreement with the country’s largest insurer Life Insurance Corporation of India (LIC), as its bancassurance partner wherein the bank will distribute LIC’s products to its customers. The bank will initially distribute LIC’s life insurance products across its branches in West Bengal, Bangalore and Haryana - Panchkula. Additionally, the bank will also provide post sales services such as premium collection and renewal of policies.

The partnership with LIC would enable the bank to further expand its existing bouquet of offerings and put forth a compelling proposition for its customers. Apart from LIC, Axis Bank also has a tie-up with Max Life Insurance in the life insurance space.

As on June 30, 2016, Axis Bank had a network of 3,006 domestic branches and extension counters situated in 1,882 centres.
source: ventura

 

GSFC reports 54% fall in Q1 net profit

Total income of the company decreased by 5.29% to Rs 1091.80 crore for the quarter under review

Gujarat State Fertilizers & Chemicals (GSFC) has reported results for first quarter ended June 30, 2016.

The company has reported a fall of 54.13% in its net profit at Rs 46.30 crore for the quarter ended June 30, 2016 as compared to Rs 100.94 crore for the same quarter in the previous year. Total income of the company decreased by 5.29% to Rs 1091.80 crore for the quarter under review, from Rs 1152.82 crore for the corresponding quarter of the previous year.

The company is a leading manufacturer of quality products of Chemical Fertilizers and Industrial Products. The company’s manufacturing units is located at Kosamba, Sikka and Nandesari. It has marketing network spread across India in states like Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Daman and Uttar Pradesh.
source: ventura

 

Shriram City Union Finance reports 23% jump in Q1 net profit

The company’s total income increased by 15.05% to Rs 1055.00 crore for the quarter under review

Shriram City Union Finance has reported results for first quarter ended June 30, 2016.

The company has reported 23.08% rise in its net profit at Rs 181.79 crore for the quarter ended June 30, 2016 as compared to Rs 147.70 crore for the same quarter in the previous year. The company’s total income increased by 15.05% to Rs 1055.00 crore for the quarter under review from Rs 917.00 crore for the corresponding quarter of the previous year.

Shriram City Union Finance has presence in the following business segments - loan Against Gold (LAG), Small Business Finance Loans (SBF), Auto Loans, 2-Wheeler loans, Personal Loans and Consumer Durables Loans.
source: ventura

 

This is really a fantastic news thread to update our stock market knowledge.

 

Ashok Leyland’s July sales decline 7%

The company’s sales under M&HCV products segment declined by 7% to 8,182 units

Ashok Leyland has reported a fall of 5% in July 2016 sales to 10,492 units, as against 11,054 units sold in the same period of last year. The company’s sales under medium and heavy commercial vehicle (M&HCV) products segment declined by 7% to 8,182 units, as against 8,835 units sold in corresponding month previous year. However, under the Light commercial vehicle (LCV) products segment, the company registered a sales growth of 4% to 2,310 units as compared to 2,219 units sold in July 2015.

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 (02.08.16) foll cos. will declare Q1 results :

Century Ply, Indian Bank, EIH, Guj Sidhee Cem, HEG, JM Financial, Voltas, Wonderla, UFO Moviez, Ugar Sugar, Tata Investment, Torrent Power, Zydus Wellness
source: ventura

 

Tomorrow (03.08.16) foll cos. will go ex dividend :
BASF Rs.1, Benares Hotels Rs.20, Clariant Chemicals Rs.10, Dhunseri Tea Rs.8, Glenmark Pharma Rs.2, Guj Pipavav Rs.1.90, Honda Siel Rs.6, Indo Borax Rs.1.50, Kaira Can Rs.5, MRF Rs.94, Mafatlal Ind Rs.3, Minda Ind Rs.4, Mindteck India Rs.1, National Fittings Rs.1, Page Ind Rs.24, Safari Ind Rs.1.20, Saksoft Rs.3, Zodiac Clothing Rs.1
source: ventura

 

J Kumar Infraprojects gets RBI’s approval to increase FII limit to 40%

These investors can invest under the portfolio investment scheme

J Kumar Infraprojects has received approval from the Reserve Bank of India to increase its foreign institutional investors’ (FIIs) /registered foreign portfolio investors’ (FPIs) limits to 40%, up from the existing 24 per cent. These investors can invest under the portfolio investment scheme.

Earlier, the board and shareholders of J Kumar Infraprojects had approved the proposal to increase FII limit in the company.

J. Kumar Infraprojects is engaged in the business of civil engineering construction contractors in Infrastructural projects mainly in roads, flyovers, bridges, commercial and residential buildings, sports complexes, irrigation projects, airport contracts.
source: ventura

 

NTPC to raise Rs 15,000 crore from the Green Masala Bonds

The company has 24,059 MW of power plants under construction, of which about 4,500 MW of plants will be commissioned this year

NTPC is planning to raise Rs 15,000 crore from the Green Masala Bonds for which the board has already given its approval. The company has 24,059 MW of power plants under construction, of which about 4,500 MW of plants will be commissioned this year. Therefore, it will require about Rs 1.5 lakh crore for the construction the plants (24,059 MW), which will be raised by debts and internal accruals.

The company is in sound financial health with a debt to equity ratio of 1:1.03, therefore, fund raising is not very challenging. NTPC’s average cost of borrowing is 8 per cent and therefore, it is exploring the rate at which the bonds could offer the funds.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.
source: ventura

 

Maruti Suzuki hikes prices of various models by up to Rs 20,000

The increase in price for the newly launched compact SUV Vitara Brezza will be Rs 20,000 while that of new premium hatchback Baleno is Rs 10,000

Country’s largest carmaker, Maruti Suzuki India has hiked prices of its various models by up to Rs 20,000. The increase in price for the newly launched compact SUV Vitara Brezza will be Rs 20,000 while that of new premium hatchback Baleno is Rs 10,000. This price increase is effective from August 01, 2016.

On a select range, the price hike will be between Rs 1,500 and Rs 5,000. The company sells a range of models starting from hatchback Alto 800 to premium crossover S-Cross, priced Rs 2.45 lakh to Rs 12.03 lakh (ex-showroom Delhi).

This price revision is based on factors like segment wise demand, Forex movements and strategic objectives of the company.
source: ventura

 

PFC plans to raise Rs 55,000 crore via issuance of securities

The company has also sought shareholders’ nod for raising its borrowing limit to Rs 4 lakh crore

Power Finance Corporation (PFC) is planning to raise Rs 55,000 crore via issuance of securities. In this regard, the company sought shareholders’ approval at the company’s annual general meeting scheduled on August 19, 2016. The company has also sought shareholders’ nod for raising its borrowing limit to Rs 4 lakh crore.

As on March 31, 2016, the paid-up share capital of PFC’s defined reserves and surplus were Rs 1,320.04 crore and Rs 19,531.83 crore, respectively.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.
source: ventura

 

DHFL plans to raise Rs 4,000 crore

The net proceeds of the issue will be used for onward lending, financing and general corporate purposes

Dewan Housing Finance Corporation (DHFL) is planning to raise up to Rs 4,000 crore through a maiden issue of non-convertible debentures (NCDs), where investors have the option of linking the coupon with retail inflation.

The issue will open for subscription on August 3 and close on August 16 and the net proceeds of the issue will be used for onward lending, financing and general corporate purposes.

The company proposes to issue secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 4,000 crore. For investors, there will be an option to choose between three, five and ten year tenors with monthly, annual and cumulative payment options.

Dewan Housing Finance Corporation is among the oldest private sector Housing Finance Companies (HFC) in India.
source: ventura

 

TVS Motor Company reports 14% sales growth in July

The total sales increased from 218,321 units recorded in the month of July 2015 to 248,002 units in the month of July 2016

TVS Motor Company has clocked a sales growth of 14% during the month of July 2016, with total sales increasing from 218,321 units recorded in the month of July 2015 to 248,002 units in the month of July 2016. Total two wheeler sales increased by 15.4% from 208,044 units recorded in July 2015 to 240,042 units in July 2016. Domestic two wheeler sales grew by 18.7% increasing from 174,099 units in July 2015 to 206,605 units in July 2016.

Scooters registered sales of 68,033 units in July 2016 as against 69,626 units in July 2015. Motorcycles sales grew by 23% increasing from 77,397 units in the month of July 2015 to 95,062 units in July 2016. Three wheeler of the company registered sales of 7,960 units in July 2016 as against 10,277 units in July 2015.

The company’s total exports registered sales of 40,192 units in the month of July 2016 as against 42,677 units in July 2015. Two wheeler exports registered sales of 33,437 units in July 2016 as against 33,945 units in July 2015.
source: ventura

 

NTPC commissions 50 MW capacity of NP Kunta Ultra Mega Solar Power Project

The installed capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu has become 250 MW

NTPC has commissioned 50 MW (1X50 MW) capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu on July 29, 2016. With this, the installed capacity of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu has become 250 MW and that of NTPC Group has become 47,228 MW.

The company is aiming to generate 248 billion units during the current financial year. In this regard, the company had signed a Memorandum of Understanding (MoU) with Government of India.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.
source: ventura

 

Tata Motors reports 7% growth in July sales

The passenger and commercial vehicle sales (including exports) were at 43,160 vehicles compared to 40,154 vehicles sold in July 2015

Tata Motors passenger and commercial vehicle sales (including exports) in July 2016 were at 43,160 vehicles, a growth of 7%, over 40,154 vehicles sold in July 2015. The company’s domestic sales of Tata commercial and passenger vehicles for July 2016 stood at 37,789 units, a growth of 8%, over July 2015. The company continued to witness year-on-year growth in certain key segments in July 2016, with the company’s LCV sales growing by 5% and its passenger cars growing by 43%. Cumulative sales (including exports) of the company for the fiscal was at 166,889 units, higher by 7% over 156,658 vehicles, sold last year.

In July 2016, Tata Motors passenger vehicles in the domestic market, recorded a sale of 13,547 units, a year-on-year growth of 31%, compared to 10,335 units sold in July 2015. The sales of passenger cars in July 2016 was higher by 43% at 12,209 units, compared to 8,520 units, in July 2015, due to strong demand for the recently launched Tiago. Cumulative sales growth of all passenger vehicles in the domestic market, were 45,062 units, a growth of 8%, compared to 41,823 units, in July 2015.

The overall commercial vehicles sales in July 2016, in the domestic market were at 24,242 units lower by 2%, over July 2015. The sales of Tata Motors Light Commercial Vehicles continued to grow in the domestic market at 13,544 units, an increase of 5% over July 2015. M&HCV sales were at 10,698 units, lower by 9%, over July 2015. The segment saw subdued demand due to lower freight rates, heavier than usual monsoon in some of the states and some slowdown in the replacement market. Cumulative sales of commercial vehicles in the domestic market for the fiscal were at 102,640 units, higher by 7% over last year. Cumulative LCV sales were at 56,841 units, an increase of 9% over last year, while M&HCV sales of 45,799 units were higher by 4%, over last year.

Further, the company’s sales from exports stood at 5,371 units, in July 2016, a growth of 6% compared to 5,078 vehicles sold in July 2015. The cumulative sales from exports for the fiscal stood at 19,187 vehicles, higher by 3%, over 18,588 vehicles, sold last year.
source: ventura

 

Bajaj Auto reports marginal fall in July sales

The sales of the motorcycles increased by just 1% and stood at 285,527 units in the month under review against 282,433 units in July 2015

Bajaj Auto, the second-largest motorcycle manufacturer, has registered a marginal fall of 0.12% in total sales to 329833 units in July 2016 against 330,231 units in July 2015.

The company has reported 7% drop in Commercial Vehicles sales, which stood at 44306 units as compared to 47798 units in month of July 2015. However, the sales of the motorcycles increased by just 1% and stood at 285,527 units in the month under review against 282,433 units in July 2015.

Meanwhile, the company’s total exports out of the above stood at 131,811 units as compared to 164,690 units sold in the corresponding month last year.
source: ventura

 

Eicher Motors’ JV reports 18% rise in July sales

Exports of Eicher trucks and buses surged 8.14% at 651 units in July as against 602 units in the same month last year

Eicher Motors and Volvo Group’s joint venture firm, VE Commercial Vehicles (VECV) has reported 18.28% increase in total sales in July at 4,374 units, as against 3,698 units in the same month last year. Eicher-branded trucks and buses recorded total sales of 4,315 units in July compared with 3,652 units in the corresponding month last year, up by 18.15%.

In the domestic market, sales of Eicher trucks and buses stood at 3,664 units in July compared with 3,050 units in the year-ago month, up by 20.13%, while exports of Eicher trucks and buses surged 8.14% at 651 units in July as against 602 units in the same month last year.

Volvo trucks recorded a 28.26% decline in sales at 59 units last month compared with 46 units in July 2015.

Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.
source: ventura