LATEST BUSINESS NEWS

DCB Bank plans to raise Rs 300 crore

The bank is planning to raise capital by issue of debt securities including Tier II Bonds, on private placement basis

DCB Bank, a leading private sector bank, is planning to raise up to Rs 300 crore by issue of debt securities including Tier II Bonds, on private placement basis. The meeting of the Capital Raising Committee of the Board of Directors of the Bank will be held on October 29, 2016, inter alia, to consider and approve proposed issue of debt securities.

DCB Bank is new generation private sector bank with over 200 branches across 18 states and two union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. The Bank has reported 31.30 % rise in its net profit at Rs 48.49 crore for the quarter ended September 30, 2016 as compared to Rs 36.93 crore for the same quarter in the previous year.
source: ventura

 

Suzlon Group enters into joint venture with Ostro Energy

The company will be responsible for the project commissioning and will also provide comprehensive operation and maintenance services for a period of 25 years

Suzlon Group has entered into joint venture with Ostro Energy for the development and construction of a 50 MW solar project at Wanaparthy site, Telangana. According to the contract signed between Ostro Energy and Suzlon Group on October 24, 2016, Ostro Energy shall acquire 49% stake in Prathamesh Solarfarms, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Ostro Energy has the option to acquire the balance 51% in future in accordance with the relevant rules and regulations. The offtaker of this project will be Telangana Southern Power Distribution Company.

Suzlon will be responsible for the project commissioning and will also provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in financial year 2017 (FY17) and will be funded 75% by debt and 25% by equity.

The company won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.

Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.
source: ventura

 

JK Cement restores clinker silo roof at Karnataka

The CF Silo which had earlier developed two horizontal cracks has been safely brought down

JK Cement has rebuild/restored and made operational the clinker silo roof at Karnataka which earlier caved in. The CF Silo which had earlier developed two horizontal cracks has been safely brought down. Due to removal of debris and maintenance the clinker production will remain suspended for about two weeks. However the production of cement will continue from the available stock of clinker.

JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
source: ventura

 

CADILA HEALTHCARE Q2 cons PAT Rs.338cr vs Rs.475cr yoy

 

Nse LICHSGFIN 3.17 lacs @ 590 value 18.70 crs

 

Nse UBL 3.76 lacs @ 875 value 32.96 crs

 

INTERNATIONAL PAPER Q2 LOSS Rs.21cr vs LOSS of Rs.6cr yoy

 

INTERNATIONAL PAPER Q2 LOSS Rs.21cr vs LOSS of Rs.6cr yoy

 

Nse MAXINDIA 10 lacs @ 138.15 value 13.82 crs

 

Nse SOBHA 4 lacs @ 287 value 11.48 crs

 

Canara Bank reports 33% fall in Q2 net profit

Total income of the Bank decreased by 2.33% at Rs 12187.12 crore for the quarter under review

Canara Bank has reported results for second quarter ended September 30, 2016.

The Bank has reported 32.51% fall in its net profit at Rs 356.91 crore for the quarter under review as compared to Rs 528.86 crore for the same quarter in the previous year. Total income of the Bank decreased by 2.33% at Rs 12187.12 crore for the quarter under review as compared Rs 12477.95 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 9.81%, as compared to 4.27% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 6.69% in Q2FY17.

source: ventura

 

JSW ENERGY Q2 PAT Rs.217cr vs Rs.440cr yoy

 

JSW ENERGY Q2 PAT Rs.217cr vs Rs.440cr yoy

 

DABUR Q2 PAT Rs.357cr vs Rs.341cr yoy, vs Rs.243cr qoq

 

Jubilant FoodWorks reports marginal fall in Q2 net profit

Total income of the company increased by 13.44% at Rs 669.82 crore for the quarter under review

Jubilant FoodWorks has reported results for second quarter ended September 30, 2016.

The company has reported 1.44% fall in its net profit at Rs 21.57 crore for the quarter under review as compared to Rs 21.88 crore for the same quarter in the previous year. Total income of the company increased by 13.44% at Rs 669.82 crore for the quarter under review as compared to Rs 590.44 crore for the corresponding quarter previous year.

Jubilant Food Works is India’s largest and fastest growing food service company. The company and its subsidiary operates Domino’s Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.
source: ventura

 

ITC Q2 PAT Rs.2500cr vs Rs.2431cr yoy vs Rs.2385cr qoq

 

SHANTI GEARS Q2 PAT Rs.6.7cr vs Rs.6.2cr yoy

 

ASIAN GRANITO Q2 PAT Rs.9.6cr vs Rs.6.1cr yoy

 

SOMANY CERAMICS Q2 PAT Rs.23cr vs Rs.10.6cr yoy

 

Syndicate Bank reports 75% fall in Q2 net profit

Total income of the Bank decreased by 1.43% at Rs 6574.93 crore for the quarter under review

Syndicate Bank has reported results for second quarter ended September 30, 2016.

The Bank has reported 75.20% fall in its net profit at Rs 82.42 crore for the quarter under review as compared to Rs 332.37 crore for the same quarter in the previous year. Total income of the Bank decreased by 1.43% at Rs 6574.93 crore for the quarter under review as compared Rs 6670.19 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased sharply to 7.72% as compared to 3.72% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 5.03% in Q2FY17.
source: ventura