LATEST BUSINESS NEWS

Ashok Leyland enters into restructuring agreement with Nissan

Nissan has agreed to sell to Ashok Leyland all of Nissan’s shares in three joint venture companies that were formed in 2008

Ashok Leyland has entered into a restructuring agreement with Nissan Motor Company that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissan’s shares in three joint venture companies that were formed in 2008. These joint ventures focus on technology development, and manufacturing of powertrains and vehicles.

Under the agreement, these joint ventures will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year.

The new phase of business interaction will begin immediately. Ashok Leyland will continue to build, under a licensing agreement, the successful Dost and Partner light commercial vehicles, which are based on Nissan’s design, engineering and technology. Servicing and parts availability for customers will be ensured by a technical support arrangement. In addition the two companies have agreed to continue a deal to procure made-in-lndia parts to Nissan.
source:ventura

 

NMDC fixes prices of iron ore with effect from September 3

The prices of Lump Ore have been fixed at Rs 1,700 WMT while the prices of Fines have been fixed at Rs 1,460 WMT

NMDC, the country’s top iron ore miner, has fixed the prices of iron ore with effect from September 03, 2016. The prices of Lump Ore have been fixed at Rs 1,700 wet metric tonnes (WMT), while the prices of Fines have been fixed at Rs 1,460 WMT. The Ore prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
source:ventura

 

Today (09.09.16) foll cos. will declare Q1 results :

Coal India, GSPL, Gujarat Gas, OMDC,Man Ind, JPAssociates, Lanco Infra, National Aluminium, SJVN, Sobha, Timken, Titagarh Wagons, Zee Media, Zuari Global, Zuari Agro

source: Ventura & BSE INDIA

 

Glenmark receives USFDA approval for generic version of Xylocaine ointment

The Xylocaine Ointment, 5% market achieved annual sales of approximately $373.0 million as on twelve month period ending July 2016

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Lidocaine Ointment USP, 5%, the generic version of Xylocaine Ointment, 5% of AstraZeneca. The Xylocaine Ointment, 5% market achieved annual sales of approximately $373.0 million, according to IMS Health sales data for the twelve month period ending July 2016.

The pharma major has been recently granted final approval by the USFDA for Triamcinolone Acetonide Cream USP, 0.1%, the generic version of Kenalog Cream, 0.1% of Delcor Asset Corporation (which is no longer being marketed in the United States).

Glenmark’s current portfolio consists of 109 products authorized for distribution in the US marketplace and 62 ANDA’s pending approval with the US FDA. 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.
Ventura

 

Sobha reports 2% rise in Q1 consolidate net profit

Total Income of the company increased by 24.64% to Rs 578.20 crore for quarter under review

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

The company has registered 1.66% rise in its net profit at Rs 36.70 crore for the quarter as compared to Rs 36.10 crore for the same quarter in the previous year. Total income of the company increased by 30.66% at Rs 587.70 crore for quarter under review as compared to Rs 449.80 crore for the quarter ended June 30, 2015.

On the consolidated basis, the company has reported 1.99% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 35.90 crore for the quarter ended June 30, 2016, as compared to Rs 35.20 crore for the same quarter in the previous year. Total Income of the company increased by 24.64% to Rs 578.20 crore for quarter under review from Rs 463.90 crore for the quarter ended June 30, 2015.
source:Ventura

 

Balkrishna Industries reports 47% jump in Q1 net profit

The company’s total income increased by 1.26% to Rs 979.78 crore for the quarter under review

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

The company has reported 46.65% rise in its net profit at Rs 149.05 crore for the quarter ended June 30, 2016 as compared to Rs 101.64 crore for the same quarter in the previous year. The company’s total income increased by 1.26% to Rs 979.78 crore for the quarter under review from Rs 967.63 crore for the corresponding quarter of the previous year.

Balkrishna Industries (BKT) is a leading manufacturer in the Off-Highway tire market. Since its founding in 1987, BKT has successfully focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications. As a result, BKT has developed into a global player in the Off-Highway tire industry with a 6% market share and a sales volume of 712 million US dollars corresponding to a 30% increase over the last five years.
source:Ventura

 

HDIL reports 30% fall in Q1 consolidated net profit

Total Income of the company decreased by 2.70% to Rs 265.21 crore for the quarter under review

Housing Development and Infrastructure (HDIL) has reported results for first quarter ended June 30, 2016.

The company has reported 29.55% fall in its net profit at Rs 41.10 crore for the quarter ended June 30, 2016 as compared to Rs 58.34 crore for the same quarter in the previous year. The company’s total income decreased by 2.76% to Rs 265.27 crore for the quarter under review from Rs 272.79 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 30.01% fall in its net profit after taxes, minority interest and share of profit of associates at Rs 40.89 crore for the quarter ended June 30, 2016 as compared to Rs 58.42 crore for the same quarter in the previous year. Total Income of the company decreased by 2.70% to Rs 265.21 crore for the quarter under review from Rs 272.58 crore for the same quarter ended June 30, 2015.
source:Ventura

 

HPCL shuts refinery unit at its 130,000 bpd refinery in Mumbai

The company is planning to boost the capacity of this refinery to 190,000 bpd by July 2019

HPCL, one of the leading petroleum products retailers in the country, has shut a unit at its 130,000 barrels per day (bpd) refinery in Mumbai due to a technical glitch, and has since been importing gasoline. The refinery's reformer unit was shut on September 1 due to a technical emergency and would resume operations by September 13 or September 14, 2016. Meanwhile, the company is planning to boost the capacity of this refinery to 190,000 bpd by July 2019, while its second refinery in south India's Vizag will ramp up to 300,000 bpd from 166,000 bpd by July 2020.

HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. It owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai of 6.5 MMTPA capacity and the other in Visakhapatnam, with a capacity of 8.3 MMTPA.
source:Ventura

 

Jaiprakash Power commences operations at Unit-2 of 660 MW of Bara Supercritical TPP

The company has successfully commenced commercial operations at Unit-2 of 660 MW of 1980 MW project on September 10, 2016

Jaiprakash Power Ventures has successfully commenced commercial operations at Unit-2 of 660 MW of 1980 MW Bara Supercritical Thermal Power Project (TPP) on September 10, 2016. Bara Supercritical Thermal Power Project is being implemented by Prayagraj Power Generation Company, a material unlisted subsidiary of the company.

Jaiprakash Power Ventures is part of India’s leading Infrastructure conglomerate - Jaypee Group. Currently the company operates the largest hydroelectric power plant in the private sector in India. Its power projects which are in different stages of implementation include Hydro, Thermal and Transmission.
source:Ventura

 

Today (12.09.16) foll cos. will declare Q1 results :
Nalco, Subex, Tata Steel, MBL Infra, Alok Ind, Reliance Power, NLC India, Hindustan National Glass, HBL Power, BGR Energy, Bajaj Hind
source:Ventura

 

On Wed (14.09.16) foll stocks will go ex bonus:
Hindustan Petroleum (Bonus Ratio 2:1), Sympony (Bonus Ratio 1:1)
source:Ventura

 

BAJAJ HIND Q1 loss Rs.77cr vs PAT of Rs.104cr yoy

 

Praj inks MoU with Indian Oil for development of 2G bio-ethanol plants

IOC is developing 2G ethanol production infrastructure using ligno-cellulosic biomasses as feedstock in order to enhance ethanol availability in the country for blending with petrol

Praj Industries, a Pune-based global process solutions leader, has been selected as technology partner by Indian Oil Corporation, India’s flagship National Oil Company, for setting up multiple 2'' Generation (2G) bio-ethanol plants based on indigenously developed technology.

Indian Oil Corporation will be setting up three such 2G bio-ethanol plants. IOC is developing 2G ethanol production infrastructure using ligno‐cellulosic biomasses as feedstock in order to enhance ethanol availability in the country for blending with petrol.

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

 

Godrej Properties opens office in Singapore

The office is strategically located at One Fullerton Road in the heart of Singapore's key business district

Godrej Properties (GPL), one of India's leading real estate developers, has opened an international representative office in Singapore. The office is strategically located at One Fullerton Road in the heart of Singapore's key business district.

With the opening of this new representative office, GPL will engage directly with the Indian Diaspora located across Singapore and neighbouring geographies. Over the years, Godrej Properties has been working with customers in various international markets including Singapore, Dubai, Hong Kong, Australia, Africa, UK, and USA.
source:Ventura

 

Kaveri Seed reports 30% fall in Q1 net profit

Total income of the company decreased by 7.76% to Rs 499.41 crore for the quarter under review

Kaveri Seed Company has reported results for first quarter ended June 30, 2016.

The company has reported 29.55% fall in its net profit after tax at Rs 154.37 crore for the quarter ended June 30, 2016 as compared to Rs 219.13 crore for the same quarter in the previous year. Total income of the company decreased by 7.76% to Rs 499.41 crore for the quarter under review from Rs 541.45 crore for the corresponding quarter of the previous year.

Kaveri Seed Company, one of the leading seed companies of the country, is engaged in production, processing and marketing of seeds to farmers. It provides seeds for different crops like corn, sunflower, cotton, paddy, and grain sorghum. It products also includes micro-nutrients and bio products.
source:Ventura

 

CESC reports marginal rise of 1% in Q1 net profit

Total income of the company increased by 11.32% at Rs 1938 crore for quarter under review

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

The company has registered a marginal rise of 0.58% in its net profit at Rs 174 crore for the quarter as compared to Rs 173 crore for the same quarter in the previous year. However, total income of the company increased by 11.32% at Rs 1938 crore for quarter under review as compared to Rs 1741 crore for the quarter ended June 30, 2015.

CESC is engaged in power generation and distribution in state of West Bengal. CESC is a fully integrated power utility with its operation spanning the entire value chain: right from mining coal, generating power, distribution of power.
source:Ventura

 

Sunil Hitech Engineers bags housing project worth Rs 415 crore in Bihar

The project comprises of 23 High Rise Multistory Residential Towers in RCC Framed Structure with ‘A’ class specifications & amenities

Sunil Hitech Engineers has been awarded order worth Rs 415 crore in the state of Bihar from Bihar State Housing Board under Government of Bihar for construction of 1,054 flats on 16.50 acres of land at Dalpatpur, Ara district in the state of Bihar including complete infrastructure development.

The project comprises of 23 High Rise Multistory Residential Towers in RCC Framed Structure with ‘A’ class specifications & amenities. The total construction area is about 14 lakh square feet.

With this, the total unexecuted order book of the company as on date is of Rs 3,429.57 crore. The company is expecting orders of Rs 2,500 crore during the FY2016 - 2017.

Sunil Hitech Engineers is well-established player in EPC and Construction of Road & Bridges, Building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants etc.
source:Ventura

 

HCL Technologies bags a contract from Synergy

Under the terms of the contract, HCL will transform and support the organization’s digital and business applications landscape enabling consolidation and rationalization in the changing energy environment

HCL Technologies (HCL), a leading global IT services company, has won a contract to provide application management services for Western Australia's leading energy provider, Synergy. Under the terms of the contract, HCL will transform and support the organization’s digital and business applications landscape enabling consolidation and rationalization in the changing energy environment. A total of 85 applications will be transitioned, consolidated and optimized by HCL to deliver ongoing support for mission-critical bespoke energy and utilities applications in a flexible ‘as a service’ model.

Synergy is Western Australia's largest electricity generator and retailer of gas and electricity with more than one million residential, business and industry customers providing energy to franchise and contestable market segments in the South West Interconnected System (SWIS). The organization owns and operates power stations in the SWIS electricity grid, which extends from Kalbarri in the north, east to Kalgoorlie and south to Albany.

HCL was awarded the contract for its technical skills, service delivery model, cost and overall support based on processes that support continual improvement to fast-track innovation and efficiency. At the same time, HCL will partner with Ignia, an Insight company, and a national leader in business technology consulting and managed services, to implement next generation digital services. These new customer experience management-focused services will be based on Sitecore software and Microsoft Azure which together will deliver contextual customer engagement by linking the company's external digital presence with back end systems.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. With 107,968 professionals from diverse nationalities, HCL Technologies focuses on creating real value for customers by taking 'Relationships beyond the Contract'.
source:Ventura

 

NALCO reports 23% drop in Q1 net profit

Total income of the company however increased by 3.26% to Rs 1682.63 crore for the quarter under review

National Aluminium Company (NALCO) has reported results for first quarter ended June 30, 2016.

The company has reported 22.55% fall in its net profit at Rs 135.01 crore for the quarter ended June 30, 2016 as compared to Rs 174.32 crore for the same quarter in the previous year. Total income of the company however increased by 3.26% to Rs 1682.63 crore for the quarter under review from Rs 1629.48 crore for the corresponding quarter of the previous year.

NALCO has the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium, captive power generation to a strong logistic network in terms of rail & port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the globe.
source:Ventura

 

NLC India reports 37% fall in Q1 net profit

Total income of the company increased by 0.42% at Rs 1974.10 crore for quarter under review

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

The company has registered 37.11% fall in its net profit at Rs 230.75 crore for the quarter as compared to Rs 366.90 crore for the same quarter in the previous year. However, total income of the company increased by 0.42% at Rs 1974.10 crore for quarter under review as compared to Rs 1965.79 crore for the quarter ended June 30, 2015.

Neyveli Lignite Corporation is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines.
source:Ventura