LATEST BUSINESS NEWS

MCX to pick up to 24% equity stake in CDSL led Commodity Repository

The board of directors at its meeting held on January 13, 2017 has accorded its in-principle approval for the same

Multi Commodity Exchange of India (MCX) has received an approval for acquisition of equity stake up to 24% in the proposed CDSL led Commodity Repository. The board of directors at its meeting held on January 13, 2017 has accorded its in-principle approval for the same.

MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
source : ventura

 

Coal India’s arm revises coking coal prices

Central Coalfields has received an approval for revision of coking coal prices with effect from January 14, 2017

Coal India’s (CIL) subsidiary - Central Coalfields has received an approval for revision of coking coal prices with effect from January 14, 2017. The board of directors of Central Coalfields has approved revision of coking coal prices. The increase in price is done by subsuming the Washery Recovery Charge (WRC) which was being charged separately in the case of non-linked Washery grade coking coal keeping in view the observation of ADRM.

Due to this revision, CIL will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-17 i.e. from January 13, 2017 to March 31, 2017 and additional revenue of Rs 222 crore for financial year 2017-18 subject to achievement of production and dispatch target norms.

Coal India accounts for over 80% of the domestic coal production and is eyeing 1 billion tonne production by 2020. The PSU is eyeing 598 million tonnes in 2016-17.
source : ventura

 

Precision Camshafts receives Rs 62 crore

The company has received the said amount from redemption of investment in preference shares of Cams Technology and related dividend

Precision Camshafts has received Rs 62 crore towards redemption of its investment in preference shares of Cams Technology along with related Dividend of Rs 2.41 crore.

The company is one of the world’s leading manufacturers and supplier of camshafts, a critical engine component, in the passenger vehicle segment based on its estimated global market share by volume.
source : ventura

 

Tata Motors to launch HEXA on January 18

The Hexa comes with a choice of eight colours for in-cabin ambient mood lighting, with illumination control and customization

After having received an encouraging response from customers and enthusiasts, Tata Motor will launch its much-awaited lifestyle vehicle, the new Hexa, on January 18. The company has commenced delivery of the vehicle to showrooms across the country. The Hexa will draw power from two engine options -- the 2.2-litre Varicor 320 and the 2.2-litre Varicor 400. It comes with a choice of eight colours for in-cabin ambient mood lighting, with illumination control and customization.

Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
source : ventura

 

RIL’s arm Jio plans to invest additional Rs 30,000 crore

The company’s total investment in the network will reach close to Rs 1.9 lakh crore

Reliance Industries’ (RIL) telecom arm - Reliance Jio Infocomm (Jio) is planning to invest Rs 30,000 crore more in order to expand coverage and increase network capacity. With this, the company’s total investment in the network will reach close to Rs 1.9 lakh crore.

The company garnered 72.4 million subscribers, as of December 31, within four months of its commercial launch. Jio has extended its free 4G service till March 31, 2017.

RIL is an India-based private sector company, with business in energy and materials value chain and in retail and digital services. The company operates in four segments: refining, petrochemicals, oil & gas and organized retail. The refining segment includes production and marketing operations of the petroleum products.
source : ventura

 

INDIA : DEC WPI Inflation @ 3.39% vs 3.15% (mom)

source: ventura

 

GE Shipping raises Rs 500 crore on private placement basis

The company has received approval to issue of 5000 Unsecured Non-Convertible Debentures of Rs 10 lakh each

Great Eastern Shipping Company (GE Shipping) has received an approval to issue 5000 Unsecured Non-Convertible Debentures (NCDs) of Rs 10 lakh each aggregating to Rs 500 crore by way of private placement. The Debenture Issue Committee at its meeting held on January 16, 2017 has approved for the same.

The said issues will be listed on WDM segment of National Stock Exchange (NSE). Credit rating agency, Credit Analysis & Research has assigned ‘AAA’ rating to the said issue, while Brickwork Ratings India has assigned ‘AAA’ rating to the said issue.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
source: ventura

 

HIL LTD Q3 PAT Rs.8cr vs LOSS of Rs.4cr yoy

 

Reliance Industries reports 4% rise in Q3 consolidated net profit

Total Income of the company increased by 15.97% to Rs 86925 crore for quarter under review

Reliance Industries has reported results for third quarter ended December 31, 2016.

The company has reported 9.95% rise in its net profit at Rs 8022 crore for the quarter under review as compared to Rs 7296 crore for the same quarter in the previous year. Total income of the company increased by 9.82% at Rs 69631 crore for the quarter under review as compared Rs 63406 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 3.60% rise in its net profit after tax, minority interest and share of profit of associates and joint ventures at Rs 7506 crore for the quarter ended December 31, 2016 as compared to Rs 7245 crore for the same quarter in the previous year. Total Income of the company increased by 15.97% to Rs 86925 crore for quarter under review from Rs 74953 crore for the quarter ended December 31, 2015.
source: ventura

 

Today (19.01.17) foll cos. will declare Q3 results :
MindTree, DB Corp, Yes Bank, Ujjivan, Laksmi Vilas Bank, Hester Bio, Federal Bank, Axis Bank, Alembic Ltd
source : bseindia , ventura

 

Tomorrow (20.01.17) foll stocks will go ex dividend :Banco India Rs.5
source : ventura

 

Today (20.01.17) foll cos. will declare Q3 results :
Rane Brake, Indiabull Hsg Fin, Orient Paper, JSW Energy, Canara Bank, VST Ind, Sintex, SBBJ, RBL Bank, Rallis, NIIT, Jyothy Lab, Hindustan Organic Chemicals, Hinduja Foundries, Adani Power, Atul
source:nseindia , ventura

 

Lakshmi Vilas Bank reports 70% rise in Q3 net profit

Total income of the Bank increased 21.60% at Rs 879.26 crore for Q3FY17

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

The Bank has reported 70.13% rise in its net profit at Rs 78.38 crore for the quarter under review as compared to Rs 46.07 crore for the same quarter in the previous year. Total income of the Bank increased 21.60% at Rs 879.26 crore for Q3FY17 as compared to Rs 723.05 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 2.78%, as compared to 1.82% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 1.82% in Q3FY17.
source: ventura

 

Manpasand Beverages to double its production capacity in 12-18 months
Four new plants are going to be set up in future with total production capacity of 2 lakh cases per day as against the current 1.7 lakh cases per day

Manpasand Beverages, India’s leading fruit juice player, is set to more than double its production capacity in the coming 12-18 moths. Four new plants are going to be set up in future with total production capacity of 2 lakh cases per day as against the current 1.7 lakh cases per day.

These four new plants with 50,000 cases per day production capacity each will come in four different regions of India. The land has been acquired and construction has started at 3 of the new plants which will be located in Sri City in Andhra Pradesh, Varanasi in Uttar Pradesh and Vadodara in Gujarat. The company is in the process of finalizing the location for the fourth plant in eastern India.

Manpasand Beverages is India’s only pure play beverage company with a flagship brand, ‘Mango Sip’.
source: ventura

 

Karnataka Bank reports 29% fall in Q3 net profit

Total income of the Bank has increased 6.40% at Rs 1457.52 crore for Q3FY17
Karnataka Bank has reported results for third quarter ended December 31, 2016.

The Bank has reported 29.30% fall in its net profit at Rs 68.52 crore for the quarter under review as compared to Rs 96.91 crore for the same quarter in the previous year. However, total income of the Bank has increased 6.40% at Rs 1457.52 crore for Q3FY17 as compared to Rs 1369.83 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 4.30%, as compared to 3.56% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.99% in Q3FY17.
source: ventura

 

Asian Paints to expand existing paint manufacturing capacity to 300,000 KL p.a.

The company has also proposed to augment the manufacturing capacity of synthetic resins and emulsions from to approximately 85000 MT

In order to meet the future demand conditions, Asian Paints has proposed to expand the existing paint manufacturing capacity from 130,000 KL to 300,000 KL per annum. The company has also proposed to augment the manufacturing capacity of synthetic resins and emulsions from existing 32000 MT to approximately 85000 MT.

The aforesaid expansion and augmentation would involve phasing out the current Phthalic Anhydride and its allied products manufactured at this facility. The capacity expansion and augmentation would be completed over the next 3 to 4 years, depending on the demand conditions and subject to necessary statutory and other approvals.

Further, it would involve an approximate investment of Rs 650 crore which would be met through internal accruals.
source: ventura

 

Gujarat State Fertilizers reports 41% fall in Q3 net profit

Total income of the company decreased by 29.79% at Rs 1163.65 crore for the quarter under review
Gujarat State Fertilizers & Chemicals has reported results for third quarter ended December 31, 2016.

The company has reported 40.99% fall in its net profit at Rs 61.17 crore for the quarter under review as compared to Rs 103.66 crore for the same quarter in the previous year. Total income of the company decreased by 29.79% at Rs 1163.65 crore for the quarter under review as compared to Rs 1657.48 crore for the corresponding quarter previous year.

The company is a leading manufacturer of quality products of Chemical Fertilizers and Industrial Products. The company’s manufacturing units is located at Kosamba, Sikka and Nandesari. It has marketing network spread across India in states like Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra etc.
source: ventura

 

Today (24.01.17) foll cos. will declare Q3 results :
Zensar Tech, Wendt, HCL Tech, Gandhi Special, Somani Ceramics, PNB Housing, Heritage Foods, Biocon, Zee Ent, Wockhard, Syngene Int, Swaraj Eng, Supreme Petro
source: bseindia and ventura

 

HCL TECH Q3 cons PAT Rs.2062cr vs Rs.2015cr qoq

 

IFCI to disinvest entire 45.5% stake in HARDICON

The company has received board’s approval for disinvestment of entire 4,550 equity shares with face value of Rs 100 each in HARDICON
IFCI has received board’s approval for disinvestment of entire 45.50% shareholding comprising 4,550 equity shares with face value of Rs 100 each in HARDICON, a non-listed associate company of IFCI.

Besides, the company has offered to offload 25% of its 3.05% stake constituting 3,43,188 equity shares (pre-split) through IPO of National Stock Exchange (NSE). This disclosure is being given on filing of the Draft Red Herring Prospectus by NSE with SEBI. The company had earlier decided to sell remaining 3.05% stake in equity of NSE.

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