LATEST BUSINESS NEWS

ISGEC Heavy Engineering inks technology agreement with AP&T of Sweden

The company has signed this technology agreement for cooperation in the manufacture of Hydraulic Press and other equipments for Press Hardening Line

ISGEC Heavy Engineering has signed a Technology Agreement with AP&T of Sweden for cooperation in the manufacture of Hydraulic Press and other equipments for Press Hardening Line.

Earlier in March, the company had signed four technical co-operation agreements with Neuson Hydrotec GmbH, GaisbergerstraBe 52, 4030 Linz, Austria for manufacture, sale and supply of Nosing Press Plant; Forging Plant; Forging Complex Press; and Straightening Press items, jointly for India.

ISGEC Heavy Engineering is engaged in the manufacturing of machinery parts and equipment. Its products include heat exchangers, reactors, columns, plate and tabular construction type fume hoods, galvanising baths, tubes, panels, superheater and economiser elements, industrial machinery equipment for steel plants.
source: ventura

 

Igarashi Motors plans business re-organisation

In this regard, the company’s board will meet on December 26, 2016

Igarashi Motors India is planning business re-organisation, including amalgamation of group company(ies), to achieve synergies in business operations. In this regard, the company’s board will meet on December 26, 2016. The group companies include Agile Electric Sub Assembly, Igarashi Electric Works (HK), Igarashi Motor Sales USA, Igarashi Motoren GmbH, Igarashi Electric Works (China) and Baesung Igarashi Co - Korea. Investors will monitor the development.

Igarashi Motors India is primarily engaged in the production and sale of permanent magnet DC motors and its accessories, mainly for automotive sector specifically for passenger cars. The company generates majority of its sales from actuator motor, a variety of DC motor used in actuator application/systems.
source: ventura

 

On 30.12.16, Engineers India will go ex bonus (Bonus Ratio 1:1)

 

On 04.01.17 JSW Steel will go ex split (Sub Division Ratio 10:1)

 

Phoenix Mills hikes stake in ISMDPL to 100%

The company has acquired 8.72% equity stake in ISMDPL from PREDPL on December 28, 2016

Phoenix Mills has acquired 8.72% equity stake in Island Star Mall Developers (ISMDPL) from Pinnacle Real Estate Development (PREDPL) on December 28, 2016. Subsequent to the aforesaid acquisition, the direct equity stake of the company in ISMDPL has increased from 91.28% to 100% and ISMDPL continues to remain a wholly owned subsidiary of the company.

Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.
source: ventura

 

Capital First gets nod to raise up to Rs 300 crore

The debenture committee constituted by the Board of Directors of the Company at its meeting held on December 29, 2016 has approved for the same

Capital First has received an approval for raising of up to Rs 300 crore through issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) on private placement basis. The debenture committee constituted by the Board of Directors of the Company at its meeting held on December 29, 2016 has approved for the same.

Capital First is an MSME and consumer financing company which provides debt financing to these segments and also offers home loans, two wheeler loans and durable loans to entry and mid-level salaried employees of corporates.
source: ventura

 

I have big lot of Capital First (CAPF)

 

Bharti Airtel in-talks to buy Telenor’s India business for $350 million: Report

The company is likely to take over half of Telenor India’s liabilities, while the latter is expected to bear remaining half of its India liabilities

Bharti Airtel, the country’s leading telecom operator by users, is reportedly in talks with Norway-based Telenor for buying its India business for $350 million. Bharti Airtel is likely to take over half of Telenor India’s liabilities, while the latter is expected to bear remaining half of its India liabilities. The deal is likely to be closed by January-end.

Telenor has been reportedly looking to exit India, having been pushed into a corner thanks to its limited data spectrum holdings and its presence in only a few pockets. Telenor India owes close to Rs 1,900 crore to the government in deferred spectrum payments and about Rs 1,800 crore to financial institutions as debt.

Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
source: ventura

 

Insecticides India ties-up with Nihon Nohyaku to launch new generation insecticides

The company plans to introduce one more brand ‘HAKKO’, an insecticide for BPH in paddy crop

Insecticides India (IIL) has tied-up with Japan’s Nihon Nohyaku Co for launching of new generation insecticides for different crops under the brand name ‘SUZUKA’. The company plans to introduce one more brand ‘HAKKO’, an insecticide for BPH in paddy crop.

Under this tie up, IIL would market SUZUKA, the new generation insecticide flubendiamide 20% SG of Nihon Nohyaku, Japan, which is an effective solution for control of lepidopteran pests in different crops like pulses, vegetables and paddy.

Insecticides India is a leading agro-chemical and pesticides manufacturer. It has formulation facilities in Chopanki (Rajasthan), Samba and Udhampur (Jammu & Kashmir) and Dahej (Gujarat).
source: ventura

 

Hero MotoCorp reports 4.3% rise in two-wheeler sales in 2016

The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016

Hero MotoCorp (HMCL), the world’s largest two-wheeler manufacturer, has reported its highest-ever sales in a calendar year. The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016, translating into a growth of 4.3% over the previous calendar year (2015) when the company had sold 64,86,103 two-wheeler units.

The cumulative sales of HMCL so far in the Financial Year 2017 (April-December 2016), has now risen to 50,24,129 units. HMCL sold 3,30,202 units in December 2016, against 4,99,665 units in the corresponding month last year. The company’s manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from December 26-31, 2016 on account of annual maintenance.

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

 

TVS Motor Company reports sales of 184,901 units in December

The total two-wheelers recorded sales of 179,508 units in December 2016 as against 194,001 units in December 2015

TVS Motor Company has clocked sales of 184,901 units during the month of December 2016, as against 202,021 units registered in the month of December 2015. The total two-wheelers recorded sales of 179,508 units in December 2016 as against 194,001 units in December 2015. Domestic two-wheeler registered sales of 153,413 units in December 2016 as against 168,160 units in December 2015.

Scooters registered sales of 55,536 units in the month of December 2016 as against 65,025 units in December 2015. Motorcycles recorded sales of 58,189 units in December 2016 as against 71,435 units registered in the month of December 2015. Three-wheeler of the company registered sales of 5,393 units in December 2016 as against 8,020 units in December 2015.

Besides, the company’s total exports registered sales of 30,694 units in the month of December 2016 as against 32,706 units recorded in the month of December 2015. Two-wheeler exports registered sales of 26,095 units in December 2016 as against 25,841 units in December 2015.
source: ventura

 

Bank of Baroda enters into partnership with CNX: Report

The partnership is with an objective to provide collateral management services towards the loans against warehouse receipt sanctioned to the farmers

Bank of Baroda (BoB), a public sector lender has reportedly entered into a partnership with CNX Corporation (CNX) with an objective to provide collateral management services towards the loans against warehouse receipt sanctioned to the farmers through the network of the bank’s branches across the country. This relationship of BoB, one of the premier banks of our country, with CNX Corporation (CNX) will immensely benefit the farmers from distress sale of their commodities.

CNX is engaged in providing warehouse management services relating to commodities and inventories which include collateral management services, field warehousing arrangements, inventory audit services, storage and preservation services, procurement services, testing and certification services, inspection services, monitoring services.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
source: ventura

 

Cupid gets nod to raise Rs 60 crore

The company’s board gave approval for the same at the meeting held on January 05, 2017

Cupid has received its board’s approval to raise funds upto Rs 60 crore by way of issuance of securities through QIP/FCCB/FCCB/ADR/GDR etc. The company’s board gave approval for the same at the meeting held on January 05, 2017.

The company’s board also gave approval for increasing the authorized share capital of the Company from Rs 12 crore to Rs 16 crore and subsequent change in capital clause of the Memorandum of Association of the Company.

Cupid manufactures and markets varieties of male and female condoms, water based lubricant, latex dental dams and probe covers. Cupid has a diverse product basket available in over 25 countries worldwide.
source: ventura

 

On 12.01.17, Oil India will go ex bonus (Bonus Ratio 1:3)

 

On Monday (09.01.17) Sterling Tools will go ex split (Sub Division Ratio 5:1)

 

Jagran Prakashan gets nod for buyback of equity shares

The buyback would be made out of the securities premium account

Jagran Prakashan has received its board’s approval for a buyback proposal, involving purchase of up to 1.55 crore equity shares at a price of Rs 195 a share, for an aggregate amount of Rs 302.25 crore. This represents 4.74 per cent of the total number of outstanding equity shares of the company.

The buyback would be made out of the securities premium account and/or out of the free reserves or such other sources as may be permitted by law, from the existing shareholders of the company on proportionate basis through the tender offer route. The aggregate amount to be expended by the company for the buyback will not exceed 25 per cent of the company’s total paid-up capital and free reserves based on the audited financial statements of the company as on March 31, 2016.

Jagran Prakashan has business interests in area of newspapers, outdoor, internet, magazines, below the line marketing solutions, and mobile value added services.
source: ventura

 

Sagar Cements reports 6% fall in December production

The company’s consolidated Cement sales for December 2016 stood at 154196 MT, as compared to 154757 MT sold in December 2015

Sagar Cements has reported the cement production and sales figures for December 2016. The company’s consolidated Cement production for December 2016 stood at 151965 million tonnes (MT), down by 5.60% compared to 160988 MT produced in December 2015. Moreover, the company’s consolidated Cement sales for December 2016 stood at 154196 MT, down by just 0.36% compared to 154757 MT sold in December 2015.

Sagar Cements is one of the most modern mini cement plants in the state of Andhra Pradesh. The plant is based on Dry Process Rotary Kiln Technology that is used in ‘Standard Quality' cement companies.
source: ventura

 

Suzlon secures 105 MW order from Axis Energy Group

Suzlon will be responsible for operation and maintenance services with dedicated Life cycle asset management services for an initial period of 10 years

Suzlon Group, one of the leading global renewable energy solutions providers in the world, has received an order of 105 MW wind power project from Hyderabad based Axis Energy Group. Axis Energy Ventures India is the flag ship company of the Axis Energy Group and the project is being undertaken by a Special Purpose Vehicle - Axis Wind Farms (Anantapur). The project consists of 50 units of S111 90m tubular tower with rated capacity of 2.1 MW. Located in Anantapur district of Andhra Pradesh, the project is scheduled for completion in two phases, first phase will be completed in March 2017 and the second phase will be completed in June 2017.

Suzlon has entered into an exclusive Supply and Installation Agreement (SIA). Suzlon will also be responsible for operation and maintenance services with dedicated Life cycle asset management services for an initial period of 10 years. The project has the potential to provide power to over 50,000 households and reduce 0.22 million tonnes of C02 emissions per annum.
source: ventura

 

On 12.01.17, Oil India will go ex bonus (Bonus Ratio 1:3)

 

On 10.01.17, Stampede Ind will go ex bonus (Bonus Ratio 1:4)