LATEST BUSINESS NEWS

VASCON ENG Q2 PAT Rs.1cr vs loss of Rs.6.3cr yoy

 

Hindustan Copper reports 11% fall in Q2 net profit

Total income of the company decreased by 10.40% at Rs 213.72 crore for the quarter under review

Hindustan Copper has reported results for second quarter ended September 30, 2016.

The company has reported 11.04% fall in its net profit at Rs 6.77 crore for the quarter under review as compared to Rs 7.61 crore for the same quarter in the previous year. Total income of the company decreased by 10.40% at Rs 213.72 crore for the quarter under review as compared Rs 238.54 crore for the corresponding quarter previous year.

Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.
source: ventura

 

Shilpa Medicare gets USFDA nod for Capecitabine Tablets

The company received an approval for Capecitabine Tablets USP, 150 mg and 500 mg to be bioequivalent and therapeutically equivalent to the reference listed drug product, Xeloda Tablets

Shilpa Medicare has received an approval from the United States Food & Drug Administration (USFDA) (the Office of Bioequivalence) for Capecitabine Tablets USP, 150 mg and 500 mg to be bioequivalent and therapeutically equivalent to the reference listed drug product (RLD), Xeloda Tablets, 150 mg and 500 mg of Hoffmann-La Roche, Inc.

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

 

Inox Wind bags order from NTPC

The project is scheduled to be commissioned by 01 FY 17-18 and will be executed on a turnkey basis

Inox Wind has bagged an order for a 50 MW wind power project to be deployed in the state of Gujarat from NTPC, a Government of India undertaking and a Maharatna company. With -47GW of capacity under operations, NTPC is India's largest energy conglomerate and this 50MW maiden order marks its foray into Wind energy generation. The move is a part of the company's target of sourcing about 11% of its planned capacity of 128 GW by 2032 from renewable energy. The project is scheduled to be commissioned by 01 FY 17-18 and will be executed on a turnkey basis.

As part of the order, Inox Wind will supply and install 25 units of its advanced 2MW DFIG 100 rotor dia Wind Turbine Generators ONTGs) for NTPC. The 100 rotor dia WTG has one of the highest swept areas that make it ideally suited to maximise returns, especially in low wind areas. The company’s 450 MW Rojmal site is one of the largest wind farms in the state of Gujarat. The common power evacuation infrastructure facilities at the site have already been commissioned.

Inox Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.
source: ventura

 

Fortis Healthcare promoters’ in-talks to sell 26% stake in company: Report

Malvinder and Shivinder Singh are in active discussions with private equity group TPG Capital to sell a significant minority stake in the company

Cash strapped brothers Malvinder and Shivinder Singh are reportedly in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity.

The quantum of stake sale is yet to be finalized but it will be a minimum of 26%. Beyond that, the acquisition will trigger an open offer for an additional 25% equity.

Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.
source: ventura

 

Nse AUROPHARMA 1.55 lakhs @ 718.30 value 11.17 crs

 

Glenmark Pharmaceuticals’ arm launches generic version of Zetia in United States

The annual US sales of Zetia 10 mg were approximately $2.3 billion for the 12-month period ending October 2016

Glenmark Pharmaceuticals’ arm - Glenmark Pharmaceuticals Inc., USA, has announced the availability of ezetimibe, the first and only generic version of Zetia (Merck) in the United States for the treatment of high cholesterol. The availability of ezetimibe is the result of a licensing partnership with Par Pharmaceutical, an Endo International plc operating company, with whom Glenmark will share profits.

Glenmark and its partner, Endo will be entitled to 180 days of generic drug exclusivity for ezetimibe as provided for under FD&C Act. According to IMS Health data for the 12-month period ending October 2016, annual US sales of Zetia 10 mg were approximately $2.3 billion.

Ezetimibe is indicated as adjunctive therapy to diet for the reduction of elevated total cholesterol (total-C), low-density lipoprotein cholesterol (LDL-C), and apolipoprotein B (Apo B) in patients with primary (heterozygous familial and non-familial) hyperlipidemia.
source: ventura

 

APL Apollo Tubes receives patents for 4 Hollow Section Designs

The designs will have a patent for a period of 10 years, with a facility to further extend it for an additional period of 5 years

APL Apollo Tubes, India’s leading branded steel tubes manufacturer in the Building Materials space, has received patents from the Indian Patent Office for four new designs of Hollow Section pipes. The company has been a pioneer in developing new products through the in-house R&D team, underlining it’s commitment towards innovation.

The patents cover the shapes and configuration of differentiated structural products. The never-seen-before designs will have a patent for a period of 10 years, with a facility to further extend it for an additional period of 5 years. In addition to the four patents, APL Apollo holds another two design patents that it had developed in-house.

APL Apollo Tubes is a leading manufacturer and exporter of Steel Pipes & Tubes, Aluminised Steel Tubes, Black Steel Tubes, Hot Dipped & Pre Galvanised Steel Tubes, Fence Tubes and Structural Steel.
source: ventura

 

Nse TATAMOTORS 3.38 crs @ 474.85 & 1.62 crs @ 475.15 total value 2378.15 crs

 

Vascon Engineers to sell its holding in Viorica Hotels for Rs 15.60 crore

The board of directors at its meeting held on December 13, 2016 has approved for the same

Vascon Engineers has received an approval for sale of its holding in Viorica Hotels for a consideration of Rs 15.60 crore. The board of directors at its meeting held on December 13, 2016 has approved for the same.

Earlier in February, the company had sold 66,69,492 shares or 19.07% of share capital of Ascent Hotels to Samhi Hotels (SAMHI) for a total consideration of Rs 26.67 crore by Share Purchase Agreement.

Vascon Engineers has significant experience in providing EPC services, which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.
source: ventura

 

Coal India reports 77% fall in Q2 net profit

Total Income of the company has decreased by 6.77% to Rs 17625.09 crore for quarter under review

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

The company has reported a fall of 11.90% in its net profit at Rs 1097.57 crore for the quarter under review as compared to Rs 1245.77 crore for the same quarter in the previous year. Total income of the company decreased by 7.39% at Rs 1372.06 crore for the quarter under review as compared Rs 1481.59 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 77.38% fall in its net profit after tax, minority interest and share of profit of associates at Rs 600.44 crore for the quarter ended September 30, 2016 as compared to Rs 2654.35 crore for the same quarter in the previous year. Total Income of the company has decreased by 6.77% to Rs 17625.09 crore for quarter under review from Rs 18905.80 crore for the quarter ended September 30, 2015.
source: ventura

 

Alok Industries reports net loss of Rs 527.71 crore in Q2FY17

The company’s total income decreased by 38.95% to Rs 2020.19 crore for the quarter under review

Alok Industries has reported results for second quarter ended September 30, 2016.

The company has reported a net loss of Rs 527.71 crore for the quarter ended September 30, 2016 as compared to a net loss of Rs 262.60 crore for the same quarter in the previous year. The company’s total income decreased by 38.95% to Rs 2020.19 crore for the quarter under review from Rs 3309.16 crore for the corresponding quarter of the previous year.

Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting.
source: ventura

 

Amtek Auto reports net loss of Rs 755.18 crore in Q2FY17

The company’s total income has decreased by 40.17% to Rs 498.92 crore for the quarter under review

Amtek Auto has reported results for second quarter ended September 30, 2016.

The company has reported a net loss of Rs 755.18 crore for the quarter ended September 30, 2016 as compared to a net loss of Rs 158.62 crore for the same quarter in the previous year. The company’s total income decreased by 40.17% to Rs 498.92 crore for the quarter under review from Rs 833.83 crore for the corresponding quarter of the previous year.

Amtek Auto manufactures components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links. It is backed by in-house design and development facilities engaged in developing new product and processes.
source: ventura

 

KRBL to commence commercial production from Furfuryl Alcohol plant shortly

The company has set up a Furfuryl Alcohol plant in Punjab at a total cost of Rs 7 crore as a step towards forward integration

KRBL has set up a Furfuryl Alcohol plant located at Bhasaur, Dhuri District, Sangrur in state of Punjab at a total cost of Rs 7 crore as a step towards forward integration. The Commercial Production of this Furfuryl Alcohol plant is expected to start shortly.

Furfuryl Alcohol is a liquid organic chemical, manufactured from Furfuryl Oil which is produced from rice husk which arises as a by-product during the course of business activity of the company. The company, through this plant, intends to further convert the Furfuryl Oil into refined Furfuryl Alcohol, as there is huge demand for Furfuryl Alcohol in India.

KRBL is an exporter of basmati rice and a significant player in the branded food industry. It manufactures products like rice bran oil, furfural and de-oiled cakes.
source: ventura

 

US Fed hikes rates by 25 bps. DOW hits record. RMSC Sir, How will our markets react?

 

25 bps is market discounted , but future Fed views in 2017 are important , if US economy is stable like this they may hike another rate decision in 2017 , so it is bad to world markets
last time 2015 December rate hike market fall Nifty 7900 to 6825 level
1000 points aprox
so i think US fed guidance is negative to our market , and every hike in market their may be
chance of taking profit booking ....
so please stick on quality stocks , due to our economy is also facing demonetization
restrictions also ....

 

Today (16.12.16) foll cos. will declare Q2 results :
Innoventive Ind
source: ventura

 

Claris Lifesciences to sell its global generic injectables business to Baxter for $625 million

The company intends to repatriate a significant majority of the net cash proceeds (post taxes and expenses) to the shareholders

Claris Lifesciences has entered into definitive agreements with Baxter International Inc. (Baxter) for the sale of its global generic injectables business for a total gross consideration of $625 million. The injectables business has been growing rapidly over the last few years and has attracted significant interest. The company intends to repatriate a significant majority of the net cash proceeds (post taxes and expenses) to the shareholders.

Credit Suisse and Jefferies acted as the financial advisers to Claris, Herbert Smith Freehills LLP, Veritas and AZB acted as the legal advisor to Claris.

Claris Lifesciences is a multi-business enterprise and the holding company of Claris Injectables, a wholly- owned subsidiary dealing in Speciality Injectables business and has a minority stake in Claris Otsuka. Claris has a total of 11 approved products in the US, around 25 ANDAs under review with the FDA and markets its products in 75+ countries.
source: ventura

 

Dilip Buildcon bags order worth Rs 260.10 crore in Andhra Pradesh

The company has been declared as the successful bidder for the project rehabilitation and up-gradation of Machilipatnam to Avanigadda section

Dilip Buildcon has bagged an order worth Rs 260.10 crore in state of Andhra Pradesh. The Ministry of Road Transport & Highways, Government of India has declared Dilip Buildcon, Bhopal as the successful bidder (L-1) for the project rehabilitation and up-gradation of Machilipatnam to Avanigadda section from Km 84/550 to Km 124/200 of NH-214A (New NH-216) to two lane with paved shoulder in the state of Andhra Pradesh under NHDP -IV through an Engineering, Procurement and Construction (EPC) basis having length of 34.400KM and completion period of 24 months.

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

 

Sun Pharma concludes acquisition of 100% stake in OTS

OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution)

Sun Pharmaceutical Industries has successfully concluded the acquisition of 100% stake of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), on December 15, 2016. OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution).

Earlier in October, the pharma major had executed definitive agreements through its wholly owned subsidiary for the acquisition of 100% of OTS, a portfolio company of Auven, an international private equity company focused on accelerated development of breakthrough therapeutic drugs.

Sun Pharmaceutical Industries is a pharmaceuticals company. The company's business segments include US Business, Indian Branded Generics Business, Emerging Markets, Global Consumer Healthcare Business and Active Pharmaceutical Ingredients (API).
source: ventura