LATEST BUSINESS NEWS

Today (30.11.16) foll cos. will declare Q2 results :
Balkrishna Ind, GSPL, GVK Power, Man Infracon, PunjLLoyd, Ratnamani Metals
source : ventura

 

Yes Bank launches SIMsePAY

The Bank has launched the services with the District Co-operative Bank, Dehradun

Yes Bank has launched SIMsePAY, a unique innovation that allows any account holder to do money transfers, pay utility bills and other mobile banking services, without the need for smart phones or Internet. The offering is based on a frugal ‘sim-sleeve’ technology, in association with Taisys Technologies, who holds global patent for the same and has implemented the same successfully in other countries including Kenya and China.

The Bank has launched the services with the District Co-operative Bank, Dehradun and subsequently plans to launch it across the country. The pilot launch takes place against the backdrop of the Government's digital payments drive and is a part of Yes Bank’s ongoing efforts to broad base the Digital Payments infrastructure in India and also complements the Bank's extensive bouquet of state of the art digital offerings as a leader in technology and innovation in the banking sector.

Most mobile banking services like wallets, chat bots and other apps can be used only on Smart phones which are Internet enabled. As per industry estimates, of the over 900 million mobile phones in India, only around 220 million phones are smart phones (less than half of these are Internet enabled).
source : ventura

 

SSWL reports 14% growth in total wheel rim sales in November

The company's gross turnover was Rs 128.62 crore in November 2016, as compared to Rs 105.13 crore in November 2015

Steel Strips Wheels (SSWL) has reported 14% growth in its total wheel rim sales to 11.99 lakh in November 2016 as compared to 10.52 lakh in November 2015. In terms of Value, the company's gross turnover was Rs 128.62 crore in November 2016, as compared to Rs 105.13 crore in November 2015, recording a growth of 22% and achieved a Net turnover of Rs 115.25 crore in November 2016 as against Rs 94.70 crore in November 2015, recording a rise of 22%.

SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
source : ventura

 

Career Point bags order to provide tutorial services in Chhattisgarh

The company will be offering school integrated residential coaching for Class 11th to 12th students

Career Point has bagged a new order from Office of District Education Officer to provide tutorial services for Pre-Engineering and Pre-Medical test preparation courses in Chhattisgarh. As per the contract, the company will be offering school integrated residential coaching for Class 11th to 12th students for two academic sessions 2016-17 and 2017-18.

Along with test-prep services for I1T- JEE (main/advance)/AlEEE/NEET/AIPMT/CGPET/CGPMT/BAMS. The company will also be taking care for students' board exams and extra-curricular activities. The DEO (District Education Officer) Korba shall provide all infrastructures for classes to be conducted by Career Point.

Career Point caters to the needs of a student throughout the life cycle of a student (KG. to PhD.), while operating in both the Formal and Informal education streams. In the informal Education system, the company has established a strong niche in test preparation and school curriculum tutoring.
source : ventura

 

BHEL commissions first unit of Pulichintala HEP in Telanqana

The green field project is being set up by TSGENCO in Guntur district of Telangana on the river Krishna

Bharat Heavy Electricals (BHEL) has successfully commissioned the first unit of the 4x30 MW Pulichintala Hydroelectric project (HEP) in the state of Telangana. The green field project is being set up by TSGENCO in Guntur district of Telangana on the river Krishna.

BHEL’s scope of work in the project includes design, manufacture, supply, supervision of erection, testing and commissioning of Electrical & Mechanical (E&M) package comprising 4 sets of 30 MW vertical Kaplan Turbine & Generator along with associated auxiliaries. The equipment has been manufactured at BHEL’s plants at Bhopal, Jhansi, Rudrapur & Bengaluru, while supervision of erection & commissioning of the project has been carried out by the company’s Power Sector - Southern Region construction division.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.
source : ventura

 

Today (01.12.16) foll cos. will declare Q2 results :
Valecha Eng, Dilip Buildcon, Srikalahasti Pipes, Graphite India, Gillete India, GSPL, A2Z Infra, Clariant Chemicals
source : ventura

 

Lupin, Eli Lilly expand partnership in India

According to the agreement, Lupin will market and sell Eglucent through its own specialty field force, while Lilly will be responsible for manufacturing and import


Pharma Major Lupin and Eli Lilly and Company (India) (Lilly) have expanded their partnership in India with the launch of Eglucent, a new brand of Lilly’s rapid-acting insulin analog Lispro. According to the agreement, Lupin will market and sell Eglucent through its own specialty field force, while Lilly will be responsible for manufacturing and import. Lilly will continue to sell Lispro under the brand name Humalog through its existing channels. Lupin had earlier collaborated with Lilly (July, 2011) to promote and distribute Lilly’s Huminsulin range of products in India and Nepal.

Eglucent is indicated for the treatment of patients with diabetes mellitus. It is an injectable medication designed to improve blood sugar control in patients with type 1 and 2 diabetes. Eglucent will be available in the Indian market in both, the cartridge and disposable pen form. Eglucent is a prescription drug that should be taken only when prescribed by a registered physician. It is intended as an adjunct to diet and exercise to improve the glycemic control.

Lupin is the 5th largest company in the Anti-Diabetes segment with a market share of 6.34% growing at 18% (IMS MAT September 2016). Lupin also has the distinction of being the only company in the Anti-Diabetes market with a contemporary portfolio comprising of oral anti-diabetes drugs (OAD) and injectable drugs like conventional and analog insulins. The company’s anti-diabetic portfolio contributes 11% to its India formulations sales.
source : ventura

 

Atul Auto reports 13.86% fall in November sales

The company has reported a sale of 3,450 units compared to 4,005 units sold in November 2015

Atul Auto has reported a sale of 3,450 units, showing a fall of 13.86% for the month of November 2016 as compared to 4,005 units sold in November 2015. The company’s total sales for the April-November 2016 stood at 27,854 units, declined by 5.15% as compared to 29,367 units in the same period last year.

Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.
source : ventura

 

NTPC to invest in Rojmal Wind Energy Project in Gujarat

The company will make investment at an appraised estimated cost of Rs 323.35 crore subject to signing of PPA

NTPC has received an investment approval for Rojmal Wind Energy Project (50 MW) in the state of Gujarat at an appraised estimated cost of Rs 323.35 crore subject to signing of Power Project Agreement (PPA). The board of directors at its meeting held on November 30, 2016 has approved for the same. This will be the first wind energy project of NTPC.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.
source : ventura

 

Escorts’ Agri Machinery Segment sells 4,806 tractors in November 2016

Domestic tractor sales for the month of November 2016 stood at 4,698 tractors against 4,691 tractors in November 2015

Escorts Agri machinery segment (EAM), a subsidiary of Escorts, in November 2016 sold 4,806 tractors, a growth of 2.1 percent against 4,706 tractors sold in November 2015. Domestic tractor sales for the month of November 2016 stood at 4,698 tractors against 4,691 tractors in November 2015. Export for the month of November 2016 was up by 620% at 108 tractors against 15 tractors in November 2015.

Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.
source : ventura

 

Tata Motors reports sales of 38,900 vehicles in November

The company’s domestic sales of Tata commercial and passenger vehicles for November 2016 stood at 33,274 units

Tata Motors’ passenger and commercial vehicle total sales (including exports) in November 2016 stood at 38,900 vehicles, flat over 38,918 vehicles sold in November 2015. The company’s domestic sales of Tata commercial and passenger vehicles for November 2016 stood at 33,274 units, a decline of 6%, over November 2015. Cumulative sales (including exports) of the company for the fiscal was at 3,50,549 units, higher by 8% over 3,24,966 vehicles, sold last year.

The company continued to witness year-on-year growth in key segments in November 2016, with the company’s passenger vehicle segment growing by 22%, led by passenger cars which grew by 26%. In M&HCV’s, construction vehicles continued to show robust growth at 46%.

The company’s sales from exports was at 5,626 unites in November 2016, a growth of 57% compared to 3,573 vehicles sold in November 2015. The cumulative sales from exports for the fiscal was at 43,428 units, higher by 19%, over 36,343 units, sold last year.
source : ventura

 

TVS Motor Company reports sales of 224,971 units in November

Domestic two-wheeler sales registered sales of 191,499 units in November 2016

TVS Motor Company has posted sales of 224,971 units during the month of November 2016, as against 225,401 units registered in the month of November 2015. Total two-wheelers recorded sales of 219,088 units in November 2016 as against 217,706 units in November 2015. Domestic two-wheeler sales registered sales of 191,499 units in November 2016 as against 190,490 units in November 2015.

Scooters registered sales of 73,135 units in the month of November 2016 as against 76,043 units in November 2015. Motorcycles recorded sales of 67,896 units in November 2016 as against 82,163 units registered in the month of November 2015. Three-wheeler of the company registered sales of 5,883 units in November 2016 as against 7,695 units in November 2015.

Besides, the company’s total exports registered sales of 32,829 units in the month of November 2016 as against 33,621 units recorded in the month of November 2015. Two-wheeler exports registered sales of 27,589 units in the month of November 2016 as against 27,216 units in the month of November 2015.
source : ventura

 

Today (02.12.16) foll cos. will declare Q2 results :

Ashoka Buildcon, BGR Energy, Dredging Corp, GE Power India, Endurance, IL&FS Trans, India Glycol, Nagarjuna Fert, Parsvnath Developers, PowerMech, TVToday
source : ventura

 

Bajaj Auto reports 13% fall in November sales

The sales of the motorcycles decreased by 12% and stood at 2,37,757 units in the month

Bajaj Auto has registered a fall of 13% in total sales to 2,69,948 units in November 2016 against 3,09,673 units in November 2015. The sales of the motorcycles decreased by 12% and stood at 2,37,757 units in the month under review against 2,70,886 units in November 2015.

The company has reported 17% fall in Commercial Vehicles sales, which stood at 32,191 units as compared to 38,787 units in month of November 2015. The company’s total exports stood at 1,15,425 units as compared to 1,37315 units sold in the corresponding month last year.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
source : ventura

 

Hero MotoCorp reports sales of 479,856 units in November

The company which had posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative

Hero MotoCorp, the country’s largest two-wheeler maker, has reported sales of 479,856 units in the month of November 2016. The company which had posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales.

In the month of November, the company showcased the Dawn 125 motorcycle at the EICMA Motorcycle Show in Milan. As part of Hero MotoCorp’s market-specific product strategy, the Dawn 125 motorcycle has been developed specifically for the Africa region.

Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.
source : ventura

 

ITC to set-up integrated consumer goods facility, five star hotel in Odisha

The integrated consumer goods manufacturing facility is being built on an area of 700,000 square feet

ITC will set-up an integrated consumer goods facility and a five star hotel in state of Odisha entailing an investment of Rs 800 crore. The integrated consumer goods manufacturing facility is being built on an area of 700,000 square feet at Khordha district in Odisha. It will roll out ITC’s food brands like Aashirvaad, Bingo, Sunfeast, YiPPee! from the unit. The group is also setting up a 110 room five star hotel in Bhubaneswar under its WelcomHotel brand.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
source : ventura

 

Suzlon bags 63 MW wind power project order from THDCIL

The order comprises installation of 30 units of S97 120m Hybrid Tower with a rated capacity of 2.1 mw each

Suzlon Group has bagged a 63 MW wind power project order from Tehri Hydro Development Corporation of India (THDCIL). The order comprises installation of 30 units of S97 120m Hybrid Tower with a rated capacity of 2.1 mw each.

The project is capable of powering over 35,000 households and offsetting 0.13 million tonnes of CO2 emissions per annum. It will be located at Kandorna and Bhanwad sites in Dwarka, Gujarat, and is scheduled to be completed by March 2017.

The company will be responsible for the entire project life cycle, from development to construction and commissioning including operations, maintenance and services of the project for an initial period of 10 years and thereafter for a mutually-agreed period.
source : ventura

 

Crompton Greaves Consumer Electrical ties-up with UK-based Gooee

The company will be able to use the British firm’s new lighting ecosystem to provide additional functionality and value to customer lighting and IoT solutions

Crompton Greaves Consumer Electrical has entered into tie-up with UK-based Gooee to be the latter’s launch partner in India. Under the agreement, the company will be able to use the British firm’s new lighting ecosystem to provide additional functionality and value to customer lighting and IoT solutions. With this partnership, Crompton plans to foray into the world of IoT and connected lighting in big way.

Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons. Crompton has been the market leader in fans, domestic pumps and street lighting for over 20 years. It has manufacturing locations in Goa, Vadodara, Ahmednagar and Baddi.
source : ventura

 

IndusInd Bank to raise Rs 1,500 crore on private placement basis

The bank proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures

IndusInd Bank is eyeing to raise Rs 1,500 crore by issuing bonds on private placement basis. The bank proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures for face value of Rs 10 lakh each for cash aggregating to Rs 1,500 crore on private placement basis.

IndusInd Bank caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2016, Induslnd Bank has 1,000 branches, and 1800 ATMs spread across 623 geographical locations of the country.
source : ventura

 

Shilpa Medicare to raise Rs 175 crore

The Board has also proposed to increase the investment limit for FIIs'/FPIs and registered foreign investors to 40% from the existing limit of 30%, subject to approval by shareholders

Shilpa Medicare has received its board's approval for raising funds up to Rs 175 crore by issuing equity shares on preferential basis to TA FII Investors, Mauritius at a price of Rs 570 per share. The Board of Directors at their meeting held on December 01, 2016, has also proposed to increase the investment limit for FIIs'/FPIs and registered foreign investors to 40 percent from the existing limit of 30 percent, subject to approval by shareholders. The company's extra ordinary general meeting (EGM) will be held on December 26, 2016.

Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
source : ventura