LATEST BUSINESS NEWS

Hindustan Zinc receives EC for Rs 1,200 crore Zawar Mines expansion project

The company wants to expand the production capacity of Lead-Zinc and ore beneficiation at its Zawar Group of underground mines located in Sarada district

Hindustan Zinc, one of the subsidiaries of Anil Agarwal-promoted Vedanta group, has received Environment Clearance (EC) for its Rs 1,200 crore Zawar Mines expansion project in state of Rajasthan. The company wants to expand the production capacity of Lead-Zinc and ore beneficiation at its Zawar Group of underground mines located in Sarada district.

The green nod to the company for the project was given on January 5 subject to certain conditions. The production capacity of both Lead-Zinc and Ore beneficiation will be increased from 1.5 million tonnes per annum (MTPA) to 4 MTPA. The Zawar group of mines in Rajasthan, the oldest Lead-Zinc mines in the country, is spread over an area of 3,620 hectare and had reserves of 13.71 million tonnes and resource of 73.67 million tonnes as on April 1, 2015.

Hindustan Zinc, the world’s second biggest zinc producer, operates the world’s third largest open-pit mine, and world’s largest Zinc Mine in Rampura Agucha, Rajasthan. It has other mines in Sindesar Khurd, Rajpura Dariba, Kayar and Zawar, all in Rajasthan. Cairn India’s Mangala field in Rajasthan is the largest onshore oil discovery in India in more than 20 years.
source: ventura

 

Kitex Garments to invest $1 million in Kitex USA LLC

The board of directors at its meeting held on January 09, 2017 has approved for the same

Kitex Garments has received an approval for further investment of up to $1 million in the capital of Kitex USA LLC during the 4th Quarter of 2016-17. The board of directors at its meeting held on January 09, 2017 has approved for the same. The board also approved availing an additional Term Loan of Rs 17 crore under A-TUFS with tenure of 5 years.

Kitex Garments is a apparel manufacturing company. It offers product such as shirts, polar fleece, T-shirts, kids wear, night wear, nylon jackets and shorts.
source: ventura

 

Today (10.01.17) foll cos. will declare Q3 results : IndusInd Bank

 

Engineers India bags orders worth Rs 2,500 crore from HPCL

The order is for execution of Vizag Refinery Modernization Project which shall be executed under two separate contracts

Engineers India has bagged orders from HPCL for execution of VRMP. Hindustan Petroleum Corporation (HPCL) has entrusted the project for execution of Vizag Refinery Modernization Project (VRMP) to Engineers India (EIL).

EIL shall execute this project contract under two separate contracts, namely PMC Services for major Process Units and packages under U&O and Execution of U&O and PRU Revamp on Open Book Estimate (OBE) Basis. The total awarded order value is more than Rs 2,500 crore with a total project schedule of 43 months for Mechanical Completion.

Engineers India is a total solutions consultancy company and EPC contractor in petroleum refining, petrochemicals, pipelines, oil and gas terminals and storages, fertilizers, mining & metallurgy and infrastructure projects. The company is also diversifying into water and waste management and has made inroads into nuclear, solar and thermal power sectors.
source: ventura

 

Today (11.01.17) foll cos. will declare Q3 results :
Broadcast Initiatives, South India Bank
source: ventura

 

Rama Sir, need your valuable advice on Pincon Spirit Ltd. Company has grown at a rapid pace in the last five years. It looks like a good buy at Rs. 70 level now. Do you track this one Sir ?

 

Price between Rs. 50-55 is better , but it is a health damage sector so
slowly state governments policies are also negativity is another major threaten
for this stock , but high risk apatite investors may try this stock...

 

South Indian Bank reports 10% rise in Q3 net profit

Total income of the Bank increased by 11.31% at Rs 1737.47 crore for Q3FY17

South Indian Bank has reported results for third quarter ended December 31, 2016.

The Bank has reported 9.59% rise in its net profit at Rs 111.38 crore for the quarter under review as compared to Rs 101.63 crore for the same quarter in the previous year. Total income of the Bank increased by 11.31% at Rs 1737.47 crore for Q3FY17 as compared Rs 1560.98 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 3.98%, as compared to 2.75% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.52% in Q3FY17.
source: ventura

 

Bharat Financial assigns receivables worth Rs 271.73 crore to one of PSU bank

This may be one of the largest assignment transactions in the microfinance industry post demonetization

Bharat Financial Inclusion (formerly known as SKS Microfinance) has assigned a pool of receivables of an aggregate value of Rs 271.73 crore on January 11, 2017, to one of the largest public sector banks (PSUs) on direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This may be one of the largest assignment transactions in the microfinance industry post demonetization.

Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
source: ventura

 

APL Apollo Tubes receives patents for two new product designs

This is in addition to the four Hollow Section design patents received last month

APL Apollo Tubes, India’s leading branded steel tubes manufacturer in the Building Materials space, has recently received patents from the Indian Patent Office for two new product designs. This is in addition to the four Hollow Section design patents received last month. The company now holds 8 design patents in total.

The patents cover the shapes and configuration of ‘window frame’ and ‘metal tube’ products. The cutting-edge designs will hold 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 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

 

Welspun India inks MoU to invest Rs 4,000 crore in 3 textile projects in Gujarat

It will invest Rs 2,000 crore in setting up an integrated textile manufacturing zone

Welspun India has inked Memorandum of Understanding (MoU) with Gujarat state government at the ongoing Vibrant Gujarat Summit 2017. The company has inked MoU to invest Rs 4,000 crore for textile projects in Gujarat.

The group, which has presence in home textiles, line pipes and infrastructure, will invest Rs 2,000 crore in setting up an integrated textile manufacturing zone. It will invest Rs 1,000 crore on capacity enhancement of its technical textile business, while a similar amount has been earmarked for its advanced textile arm that makes specialized materials for aerospace, defence and automobiles.

Welspun India is one of the largest manufacturers and exporters of bed & bath textile products globally. The company’s portfolio comprises wide range of home textile products such as terry towels, bed linen (basic bedding and decorative bedding) rugs and bathrobes.
source: ventura

 

NTPC gets investment approval for Dulanga Coal Mining Project

The project having rated production capacity of 7 MTPA will entail an appraised estimated cost of Rs 1,053.41 crore

NTPC has received an investment approval for Dulanga Coal Mining Project having rated production capacity of 7 MTPA at an appraised estimated cost of Rs 1,053.41 crore. The board of directors at its meeting has approved for the same.

The company’s total installed capacity has increased to 48,028 MW following the commissioning of 800 MW unit at Kudgi Super Thermal Power Station in Karnataka. The company has 19 coal-based, 7 gas-based, 9 solar Image result for Photovoltaic (PV), one hydro and 9 subsidiaries/joint venture power stations.

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

 

Today (12.01.17) foll cos. will declare Q3 results :
Bajaj Corp, Cyient, Rel Ind Infra, TCS, Zee Learn

 

Thank you Rama Sir.

 

KCP Sugar & Industries sells 7,43,018 quintals of sugar in December 2016

The company has also sold 1,493.54 tonnes and 15.125 tonnes of Bio-compost and Calcium Lactate, respectively

KCP Sugar & Industries Corporation has sold 7,43,018 quintals of sugar in December 2016, while the company has sold 3,943.52 tonnes of Molasses in the same month. The company has also sold 1,493.54 tonnes and 15.125 tonnes of Bio-compost and Calcium Lactate, respectively. Besides, the company has sold 4,20,000 Bulk Litres and 10,000 Bulk Litres of Ethanol and Industrial alcohol in December 2016, respectively. It sold 247.50 quintals of Bio-Fertilzer and 1.865 tonnes of Mycorrhiza in the same month.

KCP Sugar & Industries Corporation is engaged in business of manufacturing and marketing of Sugar and Bio-products. The company’s manufacturing facilities are located at Vuyyuru and Lakshmipuram.
source: ventura

 

Today (16.01.17) foll cos. will declare Q3 results :
DHFL, Geometric, HIL, LIC Housing, Jay Bharat Maruti, Reliance Ind

source : ventura

 

TV18 Broadcast reports 77% fall in Q3 consolidated net profit

Total Income of the company decreased by 2.31% to Rs 254.73 crore for quarter under review

TV18 Broadcast has reported results for third quarter ended December 31, 2016.

The company has reported 38.62% fall in its net profit at Rs 30.51 crore for the quarter under review as compared to Rs 49.71 crore for the same quarter in the previous year. Total income of the company decreased by 3.87% at Rs 174.91 crore for the quarter under review as compared Rs 181.96 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 76.79% fall in its net profit after tax, minority interest and share of profit of associates at Rs 19.70 crore for the quarter ended December 31, 2016 as compared to Rs 84.88 crore for the same quarter in the previous year. Total Income of the company decreased by 2.31% to Rs 254.73 crore for quarter under review from Rs 260.76 crore for the quarter ended December 31, 2015.
source : ventura

 

Network 18 Media reports consolidated net loss of Rs 79.79 crore in Q3

Total Income of the company decreased by 21.42% to Rs 353.42 crore for quarter under review

Network 18 Media & Investments has reported results for third quarter ended December 31, 2016.

The company has reported a net loss of Rs 50.26 crore for the quarter under review as compared to a net profit of Rs 22.10 crore for the same quarter in the previous year. Total income of the company decreased by 97.06% at Rs 1.83 crore for the quarter under review as compared Rs 62.25 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a net loss after tax, minority interest and share of profit of associates at Rs 79.79 crore for the quarter ended December 31, 2016 as compared to a net profit of Rs 50.37 crore for the same quarter in the previous year. Total Income of the company decreased by 21.42% to Rs 353.42 crore for quarter under review from Rs 449.75 crore for the quarter ended December 31, 2015.
source : ventura

 

DCB Bank reports 25% rise in Q3 net profit

Total income of the Bank increased by 28.77% at Rs 614.31 crore for Q3FY17

DCB Bank has reported results for third quarter ended December 31, 2016.

The Bank has reported 24.51% rise in its net profit at Rs 51.30 crore for the quarter under review as compared to Rs 41.20 crore for the same quarter in the previous year. Total income of the Bank increased by 28.77% at Rs 614.31 crore for Q3FY17 as compared Rs 477.05 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal improved to 1.55%, as compared to 1.98% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 0.74% in Q3FY17.
source : ventura

 

IFCI trims benchmark lending rate by 75 bps to 10.75% p.a.

The new rate would be effective from January 15, 2017

IFCI has reduced its benchmark lending rate by 75 basis points (bps) in line with market competition. The company has reduced benchmark lending rate from 11.50% per annum to 10.75% per annum with monthly rests. The new rate would be effective from January 15, 2017.

The short-term benchmark rate (IBR-ST) has been reduced by 25 bps from 8.60% per annum to 8.35% per annum with monthly rests for lending for tenure up to three months only.

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
source : ventura