LATEST BUSINESS NEWS

Nse INFY 1.77 lakhs @ 927 value 16.47 crs

 

IDBI Bank launches CASH@POS service at Mumbai Airport

Presently this facility can only be used to withdraw an amount of Rs 2,000 per Debit Card per day as per the mandate of RBI for cash withdrawal at POS

IDBI Bank, as part of its continuous initiatives to provide service and convenience to the customers, has launched IDBI Bank CASH @POS at the Mumbai Airport on November 20, 2016. Under this first of its kind facility, air travelers would be able to swipe their Visa/ Rupay Debit Cards linked to their Savings Bank Account and the bank officials would hand over the cash to them by completing the CASH @POS transaction. Presently this facility can only be used to withdraw an amount of Rs 2,000 per Debit Card per day as per the mandate of RBI for cash withdrawal at POS. Travelers who are customers of IDBI Bank and select other banks, that are enabled for CASH @POS would be benefitting by this service. Through this service IDBI Bank has opened another channel to ease the load of cash dispensation at various banking outlets.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. The Bank has reported 53.54% fall in its net profit at Rs 55.52 crore quarter ended September 30, 2016 as compared to Rs 119.5 crore for the same quarter in the previous year.
source: ventura

 

Nse IBULHSGFIN 5.10 laks @ 675 value 34.45 crs

 

ICICI Bank waives MDR on debit cards

It is effective from November 23, 2016 till December 31, 2016

ICICI Bank’s merchant acquiring arm ICICI Merchant Services (IMSL) has waived the Merchant Discount Rate (MDR) on debit card transactions at all merchants serviced by IMSL. It is effective from November 23, 2016 till December 31, 2016. Further, customers of ICICI Bank will continue to enjoy usage of their debit cards without any charge to them as has always been the case. With this, merchants serviced by IMSL will be able to accept payments on all Visa, Mastercard and RuPay debit cards without any cost to them, thus facilitating greater adoption of card based payments in the country in the wake of the demonetisation move. This announcement comes a day after ICICI Bank waived MDR on RuPay debit cards.

In a bid to encourage cashless transactions, ICICI Bank had announced on November 10, 2016, that it had proactively doubled the usage limits of debit cards of its customers w.e.f. November 10, 2016 till November 30, 2016. ICICI Bank was the first to announce this initiative. The Bank has now extended this benefit for customers till December 31, 2016, encouraging them to adopt cashless transactions.

ICICI Bank is India’s largest private sector bank with consolidated total assets of $138.67 billion as of March 31, 2016. Its subsidiaries include India’s leading private sector insurance companies, securities brokerage firm and mutual fund. The bank’s presence currently spans 17 countries, including India.
source: ventura

 

Nse HDFC 5 lakhs @ 1220.20 value 61.07 crs

 

UltraTech Cement to raise Rs 400 crore via NCDs

The securities, proposed to be listed on NSE, will have tenure of 5 years and the interest offered is 6.99 percent per annum

UltraTech Cement has proposed to issue unsecured redeemable non-convertible debentures (NCDs) amounting to Rs 400 crore on private placement basis. The securities, proposed to be listed on NSE, will have tenure of 5 years and the interest offered is 6.99 percent per annum. The date of allotment for the NCDs is November 24, 2016.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.
source: ventura

 

NBCC signs MOU with Indian Telephone Industries

NBCC & ITI agreed to jointly carry out feasibility study/ Preparation of DPR for developing ITI land Parcel of 30 acres at Electronic City Bangalore

NBCC has signed memorandum of understanding (MOU) with Indian Telephone Industries (ITI), a state- owned manufacturer of telecommunications equipment in India and a central PSU under Department of Telecommunications, Ministry of Communication & IT and Government of India. NBCC & ITI agreed to jointly carry out feasibility study/ Preparation of DPR for developing ITI land Parcel of 30 acres at Electronic City Bangalore. The development of Project through joint venture shall be undertaken on Project specific agreement.

NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
source: ventura

 

Nse VOLTAS 3.72 lacs @ 296.60 value 11.04 crs

 

TCS partners with ASML to simplify business processes and enrich stakeholder experience

The company has been a key transformation partner to ASML, contributing to its growth vision and future-ready IT landscape

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organisation, will implement a unified global process blueprint for ASML, aiming to simplify business processes, improve operational efficiency and elevate stakeholder experience and has also set up an exclusive centre for ASML in its Hyderabad campus. The company has been ASML’s trusted partner, providing a range of services including IT application portfolio management, cyber security operations and support for product lifecycle management platforms. It has been a key transformation partner to ASML, contributing to its growth vision and future-ready IT landscape.

TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
source: ventura

 

Nse PRISMCEM 20 laks @ 90 value 18 crs

 

Today (25.11.16) foll cos. will declare Q2 results :
Bata India, BEML, Balaji Tele, Godawari Power, Hathway Cable, ICIL, Navkar, Shilpa Medicare, Uflex, Tide Water
source: ventura

 

Bata India reports 36% fall in Q2 net profit

Total income of the company increased by 2.29% at Rs 597.82 crore for the quarter under review

Bata India has reported results for second quarter ended September 30, 2016.

The company has reported 36.36% fall in its net profit at Rs 34.59 crore for the quarter under review as compared to Rs 54.36 crore for the same quarter in the previous year. Total income of the company increased by 2.29% at Rs 597.82 crore for the quarter under review as compared Rs 584.45 crore for the corresponding quarter previous year.

Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organization. The company manufactures footwear for men, women and children. The company manufactures shoes of various quality such as leather, rubber, canvas and PVC shoes.
source: ventura

 

NAVKAR CORP Q2 PAT Rs.22cr vs Rs.20cr yoy

 

SPICE JET Q2 PAT Rs.59cr vs Rs.29cr yoy

 

SHILPA MEDICARE Q2 cons PAT Rs.38cr vs Rs.23cr yoy

 

BATA INDIA Q2 PAT Rs.35cr vs Rs.54cr yoy

 

SEBI Grants Certificate of Registration to Reliance Infrastructure InvIT Fund

The said InvIT Fund will carry out the activities as an InvIT, subject to the conditions specified in the SEBI Act, 1992 and the Regulations made there under

Reliance Infrastructure InvIT Fund, which is sponsored by Reliance Infrastructure, has received the certificate of registration in terms of Regulation 6 of SEBI (Infrastructure Investment Trusts) Regulations, 2014 (Regulations) from Securities and Exchange Board of India (SEBI). The company is the Sponsor to the said InvIT Fund, which will carry out the activities as an InvIT, subject to the conditions specified in the SEBI Act, 1992 and the Regulations made there under. InvITs are mutual fund like institutions that enable investments into the infrastructure sector by pooling small sums of money from multitude of individual investors for directly investing in infrastructure so as to return a portion of the income (after deducting expenditures) to unit holders of InvITs, who pooled in the money.

Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai and supplying power to around 29 lakh consumers.
source: ventura

 

Oil India reports 18% fall in Q2 net profit

Total income of the company decreased by 8.10% at Rs 2720.92 crore for the quarter under review

Oil India has reported results for second quarter ended September 30, 2016.

The company has reported 17.77% fall in its net profit at Rs 580.27 crore for the quarter under review as compared to Rs 705.67 crore for the same quarter in the previous year. Total income of the company decreased by 8.10% at Rs 2720.92 crore for the quarter under review as compared Rs 2960.77 crore for the corresponding quarter previous year.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while 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

 

OIL INDIA APPROVES ISSUE OF BONUS SHARES IN RATIO OF 1:3

 

Axiata to sell its 20% stake in Idea Cellular: Report

Axiata had originally asked Idea’s parent, the Aditya Birla Group, to buy back the holding but was turned down

Malaysia's Axiata is reportedly looking to sell its 20% stake in Idea Cellular as it believes the telecom provider’s valuation will remain subdued for at least the next three years. Axiata had originally asked Idea’s parent, the Aditya Birla Group, to buy back the holding but was turned down. Axiata has passed a board resolution to sell its stake in the company. The estimated share value of Idea Cellular on Axiata’s books has been pegged at Rs 155 apiece.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.
source : ventura