LATEST BUSINESS NEWS

Ajanta Pharma receives USFDA approval for generic version of Azor tablets

The company has launched the product in 4 strengths, 5mg+20mg, 5mg+40mg, 10mg+20mg, 10mg+40mg tablets

Ajanta Pharma has received USFDA approval for launch of Amlodipine + Olmesartan Medoxomil Tablets in the US market through its wholly owned subsidiary Ajanta Pharma USA Inc. It is a bioequivalent generic version of Azor tablets, used for lowering blood pressure and company has launched the product in 4 strengths, 5mg+20mg, 5mg+40mg, 10mg+20mg, 10mg+40mg tablets.

Amlodipine + Olmesartan Medoxomil Tablets is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 29 Abbreviated New Drug Application (ANDA) of which it has for 16 final ANDA approvals; 2 tentative approvals; and 11 ANDAs under review with USFDA.

Ajanta Pharma is a specialty pharmaceutical formulation company with global headquarters in Mumbai, India. The company is engaged in developing, manufacturing and marketing of quality finished dosages across 30+ countries.
source: ventura

 

Shree Pushkar Chemicals commences trial runs of Granular Calcium Chloride plant

The Commercial production of the said plant is slated to commence by end November 2016

Shree Pushkar Chemicals & Fertilisers has commenced trial runs of the ‘Granular Calcium Chloride’ plant of the capacity of 6500MTA, a byproduct in the manufacture of Sulphate of Potash (SOP). The Commercial production of the said plant is slated to commence by end November 2016.

Granular Calcium Chloride is a hygroscopic material and finds application as a desiccating agent. It is also extensively used as a deicing agent in the western countries during snow falls. The product is being manufactured from the Hydrochloric Acid generated as a byproduct in the manufacture of SOP.

Shree Pushkar Chemicals and Fertilisers is engaged in manufacturing and trading activities of dyes intermediates. It offers dyestuffs, dye Intermediates, sulphur base acids, animal feed additives manufactured, reactive dyes, oleum acids and chloro sulphonic acid.
source: ventura

 

Dilip Buildcon bags contract worth Rs 914 crore in Maharashtra

The contract is for rehabilitation and up-gradation of NH-66 (Kalmath to Zarap section) to four lane with paved shoulder

Dilip Buildcon has been declared as the selected bidder by the Ministry of Road Transport & Highways for rehabilitation and up-gradation of NH-66 (erstwhile NH-17) from Km 406/030 to Km 450/170 (Kalmath to Zarap section) to four lane with paved shoulder in the state of Maharashtra under NHDP-IV on Hybrid Annuity Mode at a project cost of Rs 914.00 crore and the first year and Operations and Maintenance (O&M) cost of Rs 3.00 crore.

Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.
source: ventura

 

ICICI Bank launches credit facility against home loans for salaried customers

This facility will help salaried customer to seek loans up to Rs 1 crore for personal needs against his/her property

ICICI Bank, India’s largest private sector bank by consolidated assets, has launched a credit facility against home loans for salaried customers. Christened ‘ICICI Bank Home Overdraft’, this offering helps a salaried customer to seek loans up to Rs 1 crore for personal needs against his/her property. This innovative offering provides customers with the dual advantage of a term loan and an overdraft facility.

While the term loan provides customers with quick funds for immediate needs, the overdraft facility offers them the flexibility to access funds instantly for expenses, as and when required. They can use the funds for an array of personal requirements including education, medical treatment, home renovation, marriage and overseas travel among others.

ICICI Bank is India’s largest private sector bank with consolidated total assets of $139.14 billion at June 30, 2016. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies, securities brokerage firms, mutual funds and private equity firms. Its presence currently spans 17 countries, including India.
source: ventura

 

TVS Motor Company reports 12% sales growth in October 2016

Total two-wheeler sales increased by 15.1% from 264,112 units recorded in October 2015 to 303,885 units in October 2016

TVS Motor Company has clocked a sales growth of 12% during the month of October 2016, with total sales increasing from 274,622 units recorded in the month of October 2015 to 308,690 units in the month of October 2016. The company witnessed strong retail growth during the season. Total two-wheeler sales increased by 15.1% from 264,112 units recorded in October 2015 to 303,885 units in October 2016. Domestic two-wheeler sales grew by 17.6% increasing from 231,491 units in October 2015 to 272,229 units in October 2016.

Scooters registered sales of 92,417 units in the month of October 2016 as against 91,430 units in October 2015. Motorcycle sales grew by 14.5% increasing from 106,175 units in the month of October 2015 to 121,550 units in October 2016. Three-wheeler of the Company registered sales of 4,805 units in October 2016 as against 10,510 units in October 2015.

Besides, the company’s total exports registered sales of 35,134 units in the month of October 2016 as against 41,682 units in October 2015. Two-wheeler exports registered sales of 31,656 units in October 2016 as against 32,621 units in October 2015.
source: ventura

 

CENTURY ENKA Q2 PAT Rs.19cr vs Rs.11cr yoy

 

INTELLECT DESIGN Q2 loss Rs.14cr vs loss of Rs.5.5cr qoq

 

TAKE SOLUTIONS Q2 cons PAT Rs.32.7cr vs Rs.31.4cr qoq

 

SUNDARAM CLAYTON Q2 PAT Rs.8cr vs Rs.19cr yoy

 

SUUTI sale: Sources say govt to divest 3% stake in L&T on Nov 4
SOURCE:moneycontroldotcom

 

Canara Bank plans to open more branches in Andhra Pradesh:

The bank is aiming to open 30 more branches before March, 2017

Canara Bank, a leading nationalized bank, is reportedly planning to set up more branches in the 13 districts in rural and semi urban areas of Andhra Pradesh. The bank is aiming to open 30 more branches before March, 2017. Furthermore, the bank has 350 ATM centers across the state and planning to set up another 25 ATM centers in Vijayawada.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country. The Bank has reported 32.51% fall in its net profit at Rs 356.91 crore for second quarter ended September 30, 2016 as compared to Rs 528.86 crore for the same quarter in the previous year.
source: ventura

 

Today current market

Advance stocks : 150
Decline stocks : 1418
Mid cap index is -1.47 %
Small cap index is - 2.37 %
source: ventura & moneycontroldotcom

 

HDFC Mutual Fund buys 52.48 lakh shares of City Union Bank

The shares were purchased on an average price of Rs 149.20 valuing the transaction to Rs 78.30 crore

HDFC Mutual Fund has bought 52.48 lakh shares of City Union Bank through open market route. The shares were purchased on an average price of Rs 149.20 valuing the transaction to Rs 78.30 crore. On the other hand, Ruane Cunnif & Co INC A/C Acacia Partners LP has sold 49.43 lakh shares of the bank for an average price of Rs 149.20 through open market route.

City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards. The Bank operates in four segments, which includes Corporate/Wholesale banking, Retail Banking, Treasury and Other Banking Operations. The Bank offers services, such as internet banking, mobile banking, including online funds transfer and fixed deposit operations.
source: ventura

 

Today (04.11.16) foll cos. will declare Q2 results :
Dharani Sugars, Allahabad Bank, Apcotex Ind, CARE, Central Bank of India, GPPL, GATI, Indian Hotels, Max Financial Services, KCP Sugar, Neuland Lab, Oriental Carbon, Jindal Saw, Pfizer, Radico Khaitan, Sharda Cropchem, Sesashayee Papers, Union Bank of India, TCI, Titan, TRF, United Breweries, Ucal Fuel, VST Tillers
source: ventura

 

ALLAHABAD BANK Q2 PAT Rs.65cr vs Rs.177cr yoy, vs loss of Rs.565cr qoq

 

TRF Q2 LOSS Rs.12.6cr vs PAT of Rs.5.2cr yoy

 

Titan Company reports 24% rise in Q2 net profit

Total income of the company decreased by 0.28 % at Rs 2687.48 crore for the quarter under review

Titan Company has reported results for second quarter ended September 30, 2016.

The company has reported 23.51% rise in its net profit after taxes at Rs 180.76 crore for the quarter under review as compared to Rs 146.35 crore for the same quarter in the previous year. Total income of the company decreased by 0.28 % at Rs 2687.48 crore for the quarter under review as compared Rs 2695.14 crore for the corresponding quarter previous year.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
source: ventura

 

JNDAL SAW Q2 PAT Rs.47cr vs Rs.73cr yoy

 

LUDLOW JUTE Q2 PAT Rs.5cr vs Rs.3cr yoy

 

Sir
Is LUDLOW JUTE a good buy at current price for long term holding of 3 years ?