LATEST BUSINESS NEWS

Today (18.08.16) foll cos. will declare Q1 results:
IndiaCements, SCI, TCI, Agro Dutch
source: ventura

 

India Cements reports 16% rise in Q1 net profit

Total income of the company decreased by 1.63 % at Rs 1205.72 crore for quarter under review

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

The company has registered 16.35 % rise in its net profit at Rs 43.98 crore for the quarter as compared to Rs 37.8 crore for the same quarter in the previous year. Total income of the company decreased by 1.63 % at Rs 1205.72 crore for quarter under review as compared to Rs 1225.7 crore for the quarter ended June 30, 2015.

India Cements is the largest producer of cement in South India and one of the largest cement manufacturer in the country with a total installed cement manufacturing capacity of 14.05 mtpa (million tonnes per annum).
source: ventura

 

Shipping Corporation reports 73% fall in Q1 net profit

Total income of the company decreased by 21.67% at Rs 875.94 crore for quarter under review

Shipping Corporation of India (SCI) has reported results for first quarter ended June 30, 2016.

The company has registered 72.56% fall in its net profit at Rs 55.91 crore for the quarter as compared to Rs 203.78 crore for the same quarter in the previous year. Total income of the company decreased by 21.67% at Rs 875.94 crore for quarter under review as compared to Rs 1118.22 crore for the quarter ended June 30, 2015.

SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.
source: ventura

 

Rakesh Jhunjhunwala increases stake in Aptech

Jhunjhunwala had bought an additional 700,000 shares representing 1.75% stake in Aptech at an average price of Rs 91.62 a piece

Rakesh Jhunjhunwala has increased his holding in Aptech via open market. On August 9, Rakesh Radheshyam Jhunjhunwala had bought an additional 700,000 shares representing 1.75% stake in Aptech at an average price of Rs 91.62 a piece on the NSE. HET Enterprises had sold 226,251 shares at price of Rs 92.60 per share, while the name of the other sellers not ascertained.

Aptech is provider of learning solutions to retail and corporate client across the world. The company operates two business segment retail and non retail. The retail segment consists of global information technology (IT), multimedia training and N-Power.
source: ventura

 

Today(26.08.16) foll cos. will declare Q1 results:
Finolex Ind, GIPCL, JBChemicals, Shilpa Medicare, P&G, Tata Motors, Triveni Eng
source : ventura

 

JB CHEMICALS Q1 PAT Rs.50cr vs Rs.40cr yoy
today stock + 6.19 % Rs. 331.25

 

TATA MOTORS Q1 cons PAT Rs.2236cr vs Rs.5231cr yoy

 

TRIVENI ENG Q1 cons PAT Rs.48cr vs Loss of Rs.89cr yoy

 

Indian Oil Corporation reports 25% rise in Q1 net profit

Total income of the company decreased by 5.72 % at Rs107670.95 crore for quarter under review

Indian Oil Corporation has reported results for first quarter ended June 30, 2016.

The company has registered 25.46 % rise in its net profit at Rs 8268.98 crore for the quarter as compared to Rs 6590.83 crore for the same quarter in the previous year. Total income of the company decreased by 5.72 % at Rs 107670.95 crore for quarter under review as compared to Rs 114200.24 crore for the quarter ended June 30, 2015.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
source: ventura

 

Today (01.09.16) foll cos. will declare Q1 results :
Apollo Hospitals, Ballarpur Ind, Essel Propack, MGL, Kalindee Rail, Navkar, TV Today
source: ventura and bseindia

 

Praj Industries shuts-down its subsidiary in Argentina

The company is going to be the first technology provider in the country to participate in 2G ethanol projects through ‘Green Fund’

Praj Industries has closed its subsidiary located in Argentina by name ‘Praj Sur America SRL, Argentina’. The company is going to be the first technology provider in the country to participate in 2G ethanol projects through ‘Green Fund’.

Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes and water and wastewater treatment systems.
source: ventura

 

Sadbhav Engineering’s Q1 net surges 20%

Total income of the company decreased by 2.49% at Rs 811.72 crore for quarter under review

Sadbhav Engineering has reported results for first quarter ended June 30, 2016.

The company has registered 19.99% rise in its net profit at Rs 48.68 crore for the quarter as compared to Rs 40.57 crore for the same quarter in the previous year. However, total income of the company decreased by 2.49% at Rs 811.72 crore for quarter under review as compared to Rs 832.49 crore for the quarter ended June 30, 2015.

Sadbhav Engineering is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.
source: ventura

 

Tata Power inks strategic pact with Javelin Joint Venture

Both the entities will create a strategy to co-develop and produce the Javelin missile systems

Tata Power Company’s Strategic Engineering Division has signed letter of intent (LoI) with Javelin Joint Venture (JJV), a partnership between Raytheon Company and Lockheed Martin to explore co-development and production of the Javelin anti-armour missile systems.

As a part of the LoI, both the entities will create a strategy to co-develop and produce the Javelin missile systems and integrate platform mounts to meet India requirements. This includes ground combat vehicle, dismounted infantry and rotorcraft applications.

Tata Power is India’s largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 9184 MW and a presence in all the segments of the power sector.
source: ventura

 

Manappuram Finance raises Rs 200 crore through private placement

The company has allotted 2000 Secured Redeemable NCDs having face value of Rs 10 lakh each

Manappuram Finance, one of the leading NBFCs of India, has allotted 2000 Secured Redeemable Non-Convertible Debentures (NCDs) by way of Private Placement, having face value of Rs 10 lakh each aggregating to Rs 200 crore on August 31, 2016.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
source: ventura

 

Eicher Motors’ motorcycle division reports 32% jump in August sales

The company’s sales of vehicles with engine capacity up to 350 cc increased by 30% at 49,481 units in August 2016

Eicher Motors’ motorcycle division has reported a 32% jump in total sales in August 2016 at 55,721 units, as against 42,360 units in the same month last year. During August 2016, the number of motorcycle units exported, increased by 30% to 986 units from 760 units in August 2015.

The company’s sales of vehicles with engine capacity up to 350 cc increased by 30% at 49,481 units in August 2016 against 37,985 units in the same period year ago, while the sales of its vehicles with engine capacity exceeding 350 cc increased by 43% at 6,240 units as against 4,375 units in August last year.

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

 

SML Isuzu reports 12.7% jump in August sales

The company has sold 1,082 vehicles during August 2016 against 960 vehicles sold in August 2015

SML Isuzu has reported 12.7% rise in August sales. The company has sold 1,082 vehicles during August 2016 against 960 vehicles sold in August 2015. The cumulative sales for April-August 2016 stood at 7,343 vehicles, a rise of 26.2% as compared to 5,820 vehicles sold in April-August 2015.

SML Isuzu manufactures a range of vehicles such as trucks, buses and ambulances. The company has launched products like 4WD, Samrat, Sartaj, Dual Cab, Supreme-8 tonner, Truck- Super 12, Super ALFD and many more.
source:ventura

 

ONGC reports 21% fall in Q1 net profit

Total income of the company decreased by 20.24% at Rs 18737.18 crore for quarter under review

Oil & Natural Gas Corporation (ONGC) has reported results for first quarter ended June 30, 2016.

The company has registered 21.16% fall in its net profit after tax at Rs 4232.54 crore for the quarter as compared to Rs 5368.36 crore for the same quarter in the previous year. Total income of the company decreased by 20.24% at Rs 18737.18 crore for quarter under review as compared to Rs 23491.09 crore for the quarter ended June 30, 2015.

ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $31 billion.
source:ventura

 

Motherson Sumi Systems' step-down arm acquires automotive business unit in Hungary

MSSL Manufacturing Hungary Kft, would acquire the land, building and machinery of Abraham es Tarsa Kft for a purchase price consideration of 10.4 million euro

Motherson Sumi Systems (MSSL) step-down subsidiary - MSSL Manufacturing Hungary Kft, is acquiring the automotive business unit of Abraham es Tarsa Kft. (Abraham and Co.) located in Turkeve, Hungary on a going concern basis and would also give on lease part of acquired assets to SMR Hungary. MSSL Manufacturing Hungary Kft, a subsidiary of MSSL GmbH, in-turn is a subsidiary of Motherson Sumi Systems.

With this transaction, which is expected to be completed in October 2016, MSSL through its 100% subsidiary, MSSL Manufacturing Hungary Kft, would acquire the land, building and machinery of Abraham es Tarsa Kft for a purchase price consideration of 10.4 million euro. Abraham es Tarsa is an expert for plastic processing and high quality products for car makers across Europe. SMR Hungary is a subsidiary of SMRP BV (98.5% holding), which is ultimately held by MSSL, has for many years been the primary customer of Abraham es Tarsa Kft.

The integration of this business would allow to generate a number of operational synergies with SMR. This acquisition will increase the in house capability of SMR Hungary, and therefore will support SMR’s position as technology and market leader for automotive mirrors in Hungary and Europe. The acquired unit will be further expanded to achieve group synergies through supplies to SMR and to the new facilities being set up by SMP in Europe to meet the demand for new orders from customers.
source:ventura

 

Alstom T&D reports net loss of Rs 197.41 crore in Q1 FY 17

Total income of the company increased by 9.91% at Rs 887.20 crore for quarter under review

Alstom T&D India has reported results for first quarter ended June 30, 2016.

The company has reported a net loss of Rs 197.41 crore for the quarter ended June 30, 2016 as against net profit of Rs 10.15 crore for the same quarter in the previous year. Total income of the company increased by 9.91% at Rs 887.20 crore for quarter under review as compared to Rs 807.21 crore for the quarter ended June 30, 2015.

Alstom T&D India is part of Alstom Grid, a global player in electrical grids. The company’s India operations account for over 13% of overall revenues garnered by Alstom Grid’s global operations. Apart from India business, other major contributors are the operations in France, the US, Germany and China.
source:ventura

 

IDFC Bank eye acquisitions, tie-ups to grow retail book

The bank is also looking at tying up with several financial technology entities

IDFC Bank, the newest lender in the country, is looking at an aggressive campaign to get individual depositors and lenders. The bank is also looking at tying up with several financial technology entities. It is in the process of signing a deal with a digital lending company that is focused on MSME.

It aims to close tie-ups with at least three fintech entities by end-December. In June, the bank had acquired South India-based Grama Vidiyal Microfinance. The latter is the country’s fifth-largest micro finance institution, with 1.2 million customers.

IDFC Bank --a subsidiary of India’s leading integrated infrastructure finance company. IDFC has successfully implemented Intellect Design Arena’s Global Transaction Banking (IGTB) solution suite. This combined digital solution by the company will play a key role in IDFC Bank's growth plans, as it seeks to introduce a differentiated form of banking.
source:ventura