Weekly	Last Close	Last Week Close	Change %
Nifty	11,712.25	11,748.15	-0.31%
Bank Nifty	29,954.15	29,764.80	0.64%
USD INR	69.18	69.85	0.96%
Crude Oil	4,300.00	4,410.00	-2.49%

Top Gainer of the week on Nifty
BPCL	9.1 %
Top Loser of the week on Nifty
Yes Bank	-26.45 %

Top Gaining Sector
BSE Oil & Gas	1.93%
Top Losing Sector
BSE Auto	-3.21%

Industries that saw good volumes past week:

Consumer Goods

Pharmaceuticals

Chemicals

Cements & Building Materials

Forthcoming Results
Company	Date
Bharti Airtel Ltd	6-May-19
Firstsource Solutions Ltd	6-May-19
Godrej Agrovet Ltd	6-May-19
Great Eastern Shipping Company Ltd	6-May-19
Gujarat Gas Ltd	6-May-19
ICICI Bank Ltd	6-May-19
Mahindra CIE Automotive Ltd	6-May-19
Marico Ltd	6-May-19
Navin Fluorine International Limited	6-May-19
Wockhardt Ltd	6-May-19
ABB India Ltd	7-May-19
CEAT Ltd	7-May-19
Escorts Ltd	7-May-19
Essel Propack Ltd	7-May-19
Jyothy Laboratories Ltd	7-May-19
Mahindra Logistics Ltd	7-May-19
Rashtriya Chemicals & Fertilizers Ltd	7-May-19
Sanofi India Ltd	7-May-19
Star Cement Ltd	7-May-19
Sun Pharma Advanced Research Company Ltd	7-May-19
Supreme Industries Ltd	7-May-19
V I P Industries Ltd	7-May-19
Vedanta Ltd	7-May-19
Alembic Pharmaceuticals Ltd	8-May-19
Chennai Petroleum Corporation Ltd	8-May-19
Dishman Carbogen Amcis Ltd	8-May-19
EID Parry (India) Ltd	8-May-19
Gillette India Ltd	8-May-19
K E C International Ltd	8-May-19
Procter & Gamble Hygiene and Health Care Ltd	8-May-19
Rain Industries Ltd	8-May-19
Tata Communications Ltd	8-May-19
Titan Company Ltd	8-May-19
Apollo Tyres Ltd	9-May-19
Asian Paints Ltd	9-May-19
Gujarat Mineral Development Corporation Ltd	9-May-19
Gujarat State Petronet Ltd	9-May-19
HCL Technologies Ltd	9-May-19
Indian Overseas Bank	9-May-19
Kalpataru Power Transmission Ltd	9-May-19
Mahanagar Gas Ltd	9-May-19
Oracle Financial Services Software Ltd	9-May-19
PNB Housing Finance Ltd	9-May-19
Shankara Building Products Ltd	9-May-19
Solar Industries India Ltd	9-May-19
South Indian Bank Ltd	9-May-19
Sundram Fasteners Ltd	9-May-19
Voltas Ltd	9-May-19
Canara Bank	10-May-19
Equitas Holdings Ltd	10-May-19
IDFC First Bank Ltd	10-May-19
Kajaria Ceramics Ltd	10-May-19
Larsen & Toubro Ltd	10-May-19
Merck Ltd	10-May-19
NOCIL Ltd	10-May-19
Prism Johnson Ltd	10-May-19
PVR Ltd	10-May-19
Relaxo Footwears Ltd	10-May-19
State Bank of India	10-May-19
Tata Investment Corporation Ltd	10-May-19
Venkys (India) Ltd	10-May-19
V-Mart Retail Ltd	10-May-19
Avenue Supermarts Ltd	11-May-19
La Opala RG Ltd	11-May-19
Nilkamal Ltd	11-May-19
Vinati Organics Ltd	11-May-19

Forthcoming Record Dates
Company	Date	Purpose
Nestle India Ltd.	07-May-19	Interim Dividend
CRISIL Ltd.	07-May-19	Interim Dividend
Indiabulls Housing Finance Ltd.	08-May-19	Interim Dividend
Hexaware Technologies Ltd.	08-May-19	Interim Dividend
Orient Tradelink Ltd.	08-May-19	Stock Split
Bharti Infratel Ltd.	08-May-19	Interim Dividend
Indiabulls Ventures Ltd.	09-May-19	Interim Dividend
Hatsun Agro Products Ltd.	10-May-19	Interim Dividend
Ishan Dyes & Chemicals Ltd.	10-May-19	Right Issue
Mold-Tek Packaging Ltd.	10-May-19	Interim Dividend
eClerx Services Ltd.	10-May-19	Buy Back
Reliance Nippon	10-May-19	Interim Dividend

04-May-2019

Hindustan Unilever reports 14% rise in Q4 net profit

Hindustan Unilever has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 13.84% in its net profit at Rs 1538 crore for the quarter under review as compared to Rs 1351 crore for the same quarter in the previous year. Total income of the company increased by 9.42% at Rs 10,063 crore for Q4FY19 as compared Rs 9,197 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 15.26% in its net profit at Rs 6,036 crore as compared to Rs 5,237 crore for the previous year. Total income of the company increased by 8.67% at Rs 38,888 crore for year under review as compared to Rs 35,787 crore for year ended March 31, 2018.

 

04-May-2019

Vodafone Idea inks IT outsourcing deal with IBM

Vodafone Idea has signed five-year multi-million-dollar IT outsourcing deal with IBM. This collaboration will also contribute to Vodafone Idea’s merger synergy objectives by reducing its IT related costs. The deal will provide a platform for fast-track joint initiatives in Artificial Intelligence and Internet of Things.

The collaboration will also provide the company with a hybrid cloud based digital platform to enable more intimate engagement with its over 387 million subscribers (as of December 31, 2018), enhancing business efficiency, agility and scale plus simplification of its business processes.

The new infrastructure platform will remove constraints to exponential growth of data usage driven by increasing consumption of video, streaming and digital commerce. It will also drive enhanced customer experience to millions of connected consumers and businesses in India.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

 

04-May-2019

Tata Chemicals’ Q4 consolidated net profit falls 63%

Tata Chemicals has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 77.63% in its net profit at Rs 230.33 crore for the quarter under review as compared to Rs 1029.49 crore for the same quarter in the previous year. However, total income of the company increased by 14.74% at Rs 1,134.95 crore for Q4FY19 as compared Rs 989.19 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 62.81% in its net profit at Rs 450.10 crore for the quarter under review as compared to Rs 1,210.19 crore for the same quarter in the previous year. However, total income of the company increased by 8.23% at Rs 2,845.26 crore for Q4FY19 as compared Rs 2,628.83 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 48.51% in its net profit at Rs 909.74 crore as compared to Rs 1766.96 crore for the previous year. However, total income of the company increased by 19.99% at Rs 4,537.80 crore for year under review as compared to Rs 3,781.66 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 48.68% in its net profit at Rs 1,386.85 crore as compared to Rs 2,702.49 crore for the previous year. However, total income of the company increased by 11.45% at Rs 11,707.97 crore for year under review as compared to Rs 10,504.82 crore for year ended March 31, 2018.

 

04-May-2019

Birla Corporation reports marginal fall in Q4 consolidated net profit

Birla Corporation has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 18.61% in its net profit at Rs 87.45 crore for the quarter under review as compared to Rs 107.45 crore for the same quarter in the previous year. However, total income of the company increased by 17.30% at Rs 1,296.10 crore for Q4FY19 as compared Rs 1,104.92 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a marginal fall of 2.23% in its net profit at Rs 128.19 crore for the quarter under review as compared to Rs 131.12 crore for the same quarter in the previous year. However, total income of the company increased by 12.74% at Rs 1,897.18 crore for Q4FY19 as compared Rs 1,682.81 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 19.67% in its net profit at Rs 137.78 crore as compared to Rs 115.13 crore for the previous year. Total income of the company increased by 14.37% at Rs 4,504.66 crore for year under review as compared to Rs 3,938.65 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 66.09% in its net profit at Rs 255.70 crore as compared to Rs 153.95 crore for the previous year. Total income of the company increased by 10.22% at Rs 6,627.20 crore for year under review as compared to Rs 6,012.94 crore for year ended March 31, 2018.

 

04-May-2019

RBI levies penalty on Yes Bank for violating money transfer norms

The Reserve Bank of India (RBI) has levied penalty of Rs 11.25 lakh on Yes Bank for violating money transfer norms. The RBI has identified certain violations of its circular of 2011 on Domestic Money Transfer – Relaxations and master directions issued in October 2017 on issuance and operation of prepaid payment instruments in connection with certain product features for an open loop prepaid card (co-branded) previously issued by the bank.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

 

04-May-2019

HIL commences final phase production at Golan Plant in Gujarat

HIL has commenced the final phase production of its CpVC, UpVC and SWR (Soil, Waste & Rain) Pipes and Fittings at its plant located at Golan Plant in the state of Gujarat. This is in line with the company’s intention to expand the plumbing solutions business with an extended portfolio.

The total additional Capacity of 2,916 MT/P.A (1,260 M.T Per Annum of SWR and Pressure Fittings and 1,656 M.T Per Annum CPVC and UPVC Fittings).

HIL is a leading player in asbestos cement sheet (ACS) for roofing, from which it derives 70 per cent of its revenue at present.

 

04-May-2019

Varun Beverages concludes acquisition of franchise rights in South, West regions from PepsiCo

Varun Beverages has concluded the acquisition of franchise rights in South and West regions from PepsiCo India Holding (PepsiCo) for a national bottling, sales and distribution footprint in 7 States and 5 Union Territories of India. Transfer of manufacturing facilities in above territories is in progress and shall be completed in due course. The company is now a franchise of PepsiCo beverages business across 27 States and 7 Union Territories of India.

Varun Beverages is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA).

 

04-May-2019

Vodafone Idea to deploy Ericsson’s Cloud Packet Core to enhance network performance

Ericsson has been selected by Vodafone Idea to deploy its Cloud Packet Core to enhance its existing core network. As part of this deal, the company will benefit from Ericsson’s market leading core network applications and Network Functions such as Ericsson virtual Evolved Packet Gateway (vEPG), Service Aware Policy Controller (vSAPC) and Virtualization Infrastructure (NFVi) solution enabling fast introduction of new services and providing full service continuity.

The company is partnering with the best of global vendors and equipment suppliers like Ericsson to deploy new age technologies with built-in customizations and novel innovations to deliver rich customer experience while building a robust, future fit network.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

 

04-May-2019

Orient Green Power to disinvest 57.92% stake in Sanjog Sugars and Eco-Power

Orient Green Power Company has received approval to disinvest its entire holding of 9,18,954 equity shares (aggregating 57.92%) held in Sanjog Sugars and Eco-Power (Bio Mass Subsidiary) in favour of Soorya Eco Power as per Share Purchase Agreement (SPA) executed by the company with Soorya Eco Power.

The Board of Directors of the Company at its meeting held on May 02, 2019 has approved the same.

Orient Green Power Company are the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity.

 

04-May-2019

ONGC restores operations in Bay of Bengal after cyclone Fani makes landfall

Oil and Natural Gas Corporation (ONGC) has restored operations at its fields in the Bay of Bengal after a category-4 cyclone made landfall without causing any disruption to its offshore installations. As a precaution the company had halted operations, evacuated some 500 employees and towed rigs to safer waters ahead of the cyclone.

Fani or the ‘Hood of Snake’, labelled as a category 4 storm on a scale of 1 to 5, made landfall in Puri, with roaring winds flattening huts, enveloping the pilgrim town in sheets of rain, and submerging homes in residential areas.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

 

03-May-2019

Bombay Dyeing reports many fold jump in Q4 net profit

Bombay Dyeing & Manufacturing Company has reported results for fourth quarter and year ended March 31, 2019.

The company has reported many fold jump in its net profit at Rs 1253.33 crore for the quarter under review as compared to Rs 10.95 crore for the same quarter in the previous year. Total income of the company reports around 4-fold jump at Rs 2,791.08 crore for Q4FY19 as compared Rs 765.21 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported many fold jump in its net profit at Rs 1,229.98 crore as compared to Rs 34.41 crore for the previous year. Total income of the company increased by 62.90% at Rs 4,469.98 crore for year under review as compared to Rs 2,744.00 crore for year ended March 31, 2018.

 

03-May-2019

Hatsun Agro Products reports 20% rise in Q4 net profit

Hatsun Agro Products has reported results for fourth quarter and year ended March 31, 2019.

The company has reported many fold jump in its net profit at Rs 20.20 crore for the quarter under review as compared to Rs 2.48 crore for the same quarter in the previous year. Total income of the company increased by 12.58% at Rs 1,186.29 crore for Q4FY19 as compared Rs 1,053.71 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 26.43% in its net profit at Rs 114.85 crore as compared to Rs 90.84 crore for the previous year. Total income of the company increased by 10.89% at Rs 4,766.35 crore for year under review as compared to Rs 4,298.11 crore for year ended March 31, 2018.

 

03-May-2019

Cipla set for phased launch of generic cinacalcet hydrochloride tablets

Cipla and its subsidiary Cipla USA, Inc., are set for a phased launch of generic Cinacalcet Hydrochloride tablets (30mg, 60mg and 90mg) in the USA. The launch is a subject of ongoing litigation.

Cipla’s cinacalcet hydrochloride tablets (30mg, 60mg and 90mg) is AB-rated generic therapeutic equivalent version of Sensipar, a branded drug marketed by Amgen, Inc. Cinacalcet tablets are indicated for the treatment of secondary hyperparathyroidism (HPT) in adult patients with chronic kidney disease (CKD) on dialysis, for the treatment of hypercalcemia in adult patients with Parathyroid Carcinoma, and for treatment of severe hypercalcemia in adult patients with primary HPT who are unable to undergo parathyroidectomy.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.

 

03-May-2019

Thomas Cook inks strategic agreement with Sentosa Development Corporation

Thomas Cook (India) has entered into a strategic agreement with Sentosa Development Corporation (SDC), Singapore to bring more tourists from India to Sentosa, a holiday island-in-the-city that is home to a diverse array of novel leisure experiences.

Thomas Cook India and SDC have entered into the three-year strategic agreement to deepen the relationship between both parties, strengthen Sentosa’s position as a top-of-mind destination for all Indian tourists visiting Singapore, increase Sentosa’s capture rates of the India market particularly in Tier 2 and 3 cities, and grow visitorship to and spend on the island. To this end, both parties will collaborate on a multipronged effort comprising activities such as product development, joint consumer promotions, as well as publicity to raise Sentosa’s profile in the India market.

Thomas Cook (India) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.

 

03-May-2019

Laurus Labs reports marginal fall in Q4 consolidated net profit

Laurus Labs has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 5.18% in its net profit at Rs 43.95 crore for the quarter under review as compared to Rs 46.35 crore for the same quarter in the previous year. However, total income of the company increased by 12.28% at Rs 619.26 crore for Q4FY19 as compared Rs 551.55 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 4.21% in its net profit at Rs 43.18 crore for the quarter under review as compared to Rs 45.08 crore for the same quarter in the previous year. However, total income of the company increased by 12.64% at Rs 636.78 crore for Q4FY19 as compared Rs 565.32 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 45.14% in its net profit at Rs 94.99 crore as compared to Rs 173.14 crore for the previous year. However, total income of the company increased by 8.90% at Rs 2,252.27 crore for year under review as compared to Rs 2,068.12 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 44.06% in its net profit at Rs 93.76 crore as compared to Rs 167.61 crore for the previous year. However, total income of the company increased by 10% at Rs 2,308.07 crore for year under review as compared to Rs 2,098.20 crore for year ended March 31, 2018.

 

03-May-2019

Godrej Consumer Products reports 52% rise in Q4 consolidated net profit

Godrej Consumer Products has reported results for fourth quarter and year ended March 31, 2019.

The company has reported 3-fold jump its net profit at Rs 906.86 crore for the quarter under review as compared to Rs 295.13 crore for the same quarter in the previous year. However, total income of the company marginally decreased by 0.88% at Rs 1,378.83 crore for Q4FY19 as compared Rs 1,391.12 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 51.53% in its net profit at Rs 935.24 crore for the quarter under review as compared to Rs 617.19  crore for the same quarter in the previous year. However, total income of the company marginally decreased by 3.06% at Rs 2,481.72 crore for Q4FY19 as compared Rs 2,560.14 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 75.52% in its net profit at Rs 1754.98 crore as compared to Rs 999.87 crore for the previous year. Total income of the company increased by 6.36% at Rs 5,773.76 crore for year under review as compared to Rs 5,428.64 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 43.28% in its net profit at Rs 2,341.53 crore as compared to Rs 1,634.18 crore for the previous year. However, total income of the company marginally increased by 3.73% at Rs 10,423.10 crore for year under review as compared to Rs 10,048.70 crore for year ended March 31, 2018.

 

03-May-2019

Sagar Cements acquires Jajpur Cements to set up cement grinding unit

Sagar Cements has acquired 100% shareholding in Jajpur Cements (JCPL) for setting up a green field cement grinding unit of 1.5 million ton capacity in Jajpur at a total cost of Rs 308.10 crore. The process of setting-up of the said unit is being set in motion and will be completed by March 2021.

Sagar Cements is a prominent player in the field of cement in Andhra Pradesh for over 3 decades adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.

 

03-May-2019

Birlasoft wins ‘Expense Management Partner of the Year 2018’ Award

Birlasoft has won the prestigious ‘Expense Management Partner of the Year 2018’ at the SAP India Partner Summit 2019, held in New Delhi. The SAP Partner Awards are presented annually to the top SAP partners that have excelled in developing and strengthening their alliance with SAP to drive customer success.

Birlasoft combines the power of domain, enterprise and digital technologies to reimagine business processes for customers and their ecosystem. The company’s consultative and design thinking approach makes societies more productive by helping customers run businesses.

 

03-May-2019

M&M launches updated version of compact SUV TUV300

Mahindra & Mahindra (M&M) has launched an updated version of its compact SUV TUV300 priced at Rs 8.38 lakh (ex-showroom Mumbai). The ‘Bold New TUV300’ features design enhancements and new features like piano black front grille with black chrome inserts, muscular side cladding and a newly designed X-shaped metallic grey spare wheel cover.

Besides, it also has a new headlamp design with daytime running lamps (DRLs) and carbon black finish. The new vehicle also comes with reverse parking camera, 17.8 cm infotainment system with GPS, static bending headlamps and micro-hybrid technology.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

03-May-2019

DIL’s arm gets recognized as ‘Great Place to Work’

DIL’s subsidiary — Fermenta Biotech has been certified as Great Place to Work by a Global authority (Great Place to Work). This recognition is considered as the ‘Gold Standard’ in ‘Employer of Choice’ recognitions.

DIL is engaged in the business of research support services through their subsidiary Research Support International (RSIL), manufacture and marketing of enzymes and chemicals through their subsidiary Fermenta Biotech (FBL).

 

03-May-2019

Grasim Industries commissions brownfield expansion at Kharach unit

Grasim Industries’ brownfield expansion of 45 TPD Value Added Speciality Fibre capacity at Kharach unit in Gujarat has been fully commissioned and the commercial production at the said plant has commenced from May 01, 2019.

Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.

 

03-May-2019

USFDA concludes inspection at Cadila Healthcare’s manufacturing facility in Ahmedabad

United States Food and Drug Administration (USFDA) has concluded inspection at Cadila Healthcare’s formulations manufacturing facility located at Moraiya, Ahmedabad with 14 observation. The inspection was conducted from April 22, 2019 to May 3, 2019.

Cadila Healthcare is an India-based pharmaceutical company. The company’s subsidiaries include Zydus Wellness, Liva Pharmaceuticals, Biochem Pharmaceutical Industries, Zydus Technologies, German Remedies, Dialforhealth India, Dialforhealth Unity and Dialforhealth Greencross, among others.

 

03-May-2019

SpiceJet introduces 12 new flights from May 11

SpiceJet has introduced 12 new flights from New Delhi and Mumbai to other destinations. Of the 12 new services, which commence from May 11, six are to and from Mumbai while the rest connects the national Capital.

The company will deploy Boeing 737 NG aircraft on these routes and the new services from Mumbai will be operated from Terminal 2.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

 

03-May-2019

Shreyas Shipping receives insurance claim towards fire incident

Shreyas Shipping & Logistics has received an amount of Rs 30 crore towards settlement of insurance claim due to Fire on SSL Kolkata.

Shreyas Shipping & Logistics was formed primarily to own and operate vessels for feedering of containers between Indian Ports and Internationally renowned container transshipment ports.

 

03-May-2019

Amber Enterprises acquires 80% equity share capital of Sidwal

Amber Enterprises has acquired 36,000 equity share of face value of Rs 1000 each comprising of 80% of the equity share capital of Sidwal. After the acquisition Sidwal has become a subsidiary of the company.

Amber Enterprises India, a part of Amber Group, is one of the largest original equipment manufacturer of white goods in India. Its product list includes Split & Window Air Conditioners for commercial and residential use, Heat Exchangers, Multi Flow Condensers and Home appliances.

 

03-May-2019

Container Corporation reports 21% rise in Q4 net profit

Container Corporation of India has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 20.70% in its net profit at Rs 352.31 crore for the quarter under review as compared to Rs 291.90 crore for the same quarter in the previous year. Total income of the company increased by 14.99% at Rs 1,963.11 crore for Q4FY19 as compared Rs 1,707.25 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 16.37% in its net profit at Rs 1,215.41 crore as compared to Rs 1,044.46 crore for the previous year. Total income of the company increased by 11.71% at Rs 7,216.14 crore for year under review as compared to Rs 6,459.75 crore for year ended March 31, 2018.

 

03-May-2019

Gruh Finance reports marginal rise in Q4 net profit

Gruh Finance has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a marginal rise of 1.21% in its net profit at Rs 129.65 crore for the quarter under review as compared to Rs 128.10 crore for the same quarter in the previous year. Total income of the company increased by 25.58% at Rs 557.77 crore for Q4FY19 as compared Rs 444.15 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 11.04% in its net profit at Rs 447.20 crore as compared to Rs 402.75 crore for the previous year. Total income of the company increased by 19.66% at Rs 2,026.65 crore for year under review as compared to Rs 1,693.74 crore for year ended March 31, 2018.

 

03-May-2019

Bharti Airtel re-launches flagship customer program ‘Airtel Thanks’

Bharti Airtel has re-launched its flagship customer program ‘Airtel Thanks’. Continuing on Airtel’s strategy of winning with quality customers, the new enhanced program is designed to deliver exclusive rewards.

The new program is tiered in its offering – Silver, Gold and Platinum. Each tier opens a whole new set of benefits for Airtel customers. The benefits are powered by Airtel’s strong partnerships, which go from premium content brands like Amazon Prime, Netflix and Zee5 to Wynk music, device brands and many more.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

03-May-2019

SpiceJet launches 19 more flights from Mumbai

SpiceJet has launched 19 more flights connecting Mumbai with various other domestic destinations, beginning May 04. All the new flights will be operational daily, except the services on the Mumbai-Kochi-Mumbai sector, which will be operational all days except Tuesdays.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

 

03-May-2019

GMR Infrastructure’s associate company executes resolution plan with GREL Lenders

GMR Infrastructure’s (GIL) Associate Company — GMR Rajahmundry Energy (GREL) has executed bilateral Resolution plan with GREL Lenders. The key features of the Resolution Plan such as the existing Debt of Rs 2,353 crore has been brought down to a Sustainable Debt of Rs 1,412 crore.

Against above Sustainable debt of Rs 1,412 crore, GMR Group has already infused an amount of Rs. 395 crore towards meeting 20% of Principal towards repayment of the Sustainable Debt and the interest servicing obligations of GREL for the first year. This leaves balance outstanding Sustainable debt of Rs 1,130 crore carrying a floating rate of 9% p.a. repayable over 20 years.

The Balance Debt of Rs 941 crore has been converted into Long Dated Cumulative Redeemable Preference Shares (CRPS) carrying 0.1% which is repayable from 17th to the 20th year.

GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.

 

03-May-2019

DLF transfers shopping mall to its subsidiary in Noida

DLF has transferred shopping mall in Noida, Uttar Pradesh to one of its subsidiaries- Paliwal Real Estate for Rs 2,950 crore, as part of efforts to settle dues of its joint venture firm with GIC.

DLF has to pay Rs 8,700 crore to the DLF Cyber City Developers (DCCDL), which is a joint venture firm of DLF and Singapores’ sovereign wealth fund GIC. It wants to settle this dues by September this year through transfer of rental assets and land parcels.

DLF is one of India’s biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.

 

03-May-2019

BSE to conduct mock trading session for various segments

Bombay Stock Exchange (BSE) has scheduled a mock trading session for various segments on May 4. The mock trading session will be conducted for equity, commodity derivatives, currency derivatives and equity derivatives segments.

The login session for all the segments will start at 09:30 am and last till 10:00 am. The continuous trading for all the segments except equity will start at 10:00 am and close at 03:30 pm. For the equity segment, timing for continuous trading will be from 10:30 am to 3:30 pm.

BSE provides an efficient and transparent market for trading in equity, debt instruments, derivatives, mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME).

 

03-May-2019

Glenmark pharmaceuticals’ arm enters into co-promotion agreement with Otonomy

Glenmark pharmaceuticals’ subsidiary — Glenmark Therapeutics Inc., USA has entered into co-promotion agreement with Otonomy, Inc. a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology. Glenmark Therapeutics is dedicated to developing and commercializing a franchise of branded products for Glenmark Pharmaceuticals and is focused in the areas of respiratory and dermatology. Ryaltris (olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg), formerly GSP 301 Nasal Spray, is the company’s leading respiratory pipeline asset and currently under review with the U.S. Food and Drug Administration (FDA) as a treatment of seasonal allergic rhinitis in patients 12 years and older. Ryaltris has been conditionally accepted by the FDA as the brand name.

This agreement provides Glenmark Therapeutics with an exclusive right to promote OTIPRIO (ciprofloxacin otic suspension) for the treatment of acute otitis externa (AOE) in patients 6 months of age and older due to Pseudomonas aeruginosa and Staphylococcus aureus in ear, nose and throat specialist offices in the United States and its territories. Financial terms for the multi-year agreement were not disclosed; however, Glenmark Therapeutics will provide Otonomy an annual co-promotion fee and provide reimbursement of a proportion of product support expenses. In addition, Otonomy will retain a share of the adjusted gross profits from the sale of OTIPRIO to Glenmark’s accounts. Commercial rights for use of OTIPRIO in other indications, including treatment of bilateral otitis media with effusion in patients 6 months and older who need ear tubes, will remain with Otonomy.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

 

03-May-2019

ICE Make Refrigeration commissions in-house manufacturing facility in Gujarat

ICE Make Refrigeration has commissioned its in-house manufacturing facility of condenser coil and evaporator coil at Dantali, Gandhinagar in the state of Gujarat. The Company in December 2017 raised Rs 24 crore through initial public offer to part finance setting up this plant, backward integration to improve production efficiencies and up-gradation of existing facilities at its plants in Gujarat and Tamil Nadu.

The company is currently supported by two state-of-the art manufacturing facilities speared across 2, 45,000 square feet of land area at Dantali, Gujarat and 20,000 square feet of land area in Chennai, Tamil Nadu.

ICE Make Refrigeration is engaged in the business of providing customized cooling solutions to diverse set of clients across wide range of industries by manufacturing and supplying high quality refrigeration products & equipment.

 

03-May-2019

Crompton Greaves Consumer Electricals incorporates WOS

Crompton Greaves Consumer Electricals has incorporated wholly owned subsidiary (WOS) company namely, ‘Crompton CSR Foundation’ with effect from May 01, 2019. The incorporated Company to inter alia, support, promote and enhance education, employment, vocational skills, and sustainable livelihood, curative and preventive healthcare measures; sanitation and availability of safe drinking water measures; measures for eradicating hunger, poverty and malnutrition; sustainability environmental and ecological balance, etc.

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.

 

03-May-2019

Ajanta Pharma reports 6% fall in Q4 consolidated net profit

Ajanta Pharma has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 47.30% in its net profit at Rs 41.37 crore for the quarter under review as compared to Rs 78.50 crore for the same quarter in the previous year. Total income of the company decreased by 11.07% at Rs 416.72 crore for Q4FY19 as compared Rs 468.60 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 5.93% in its net profit at Rs 88.89 crore for the quarter under review as compared to Rs 94.49 crore for the same quarter in the previous year. Total income of the company decreased by 3.50% at Rs 516.79 crore for Q4FY19 as compared Rs 535.55 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 8.36% in its net profit at Rs 391.76 crore as compared to Rs 427.52 crore for the previous year. Total income of the company decreased by 1.51% at Rs 1,874.77 crore for year under review as compared to Rs 1,903.46 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 17.43% in its net profit at Rs 386.97 crore as compared to Rs 468.64 crore for the previous year. Total income of the company decreased by 3.65% at Rs 2,076.45 crore for year under review as compared to Rs 2,155.02 crore for year ended March 31, 2018.

 

03-May-2019

Blue Star reports over 2- fold jump in Q4 consolidated net profit

Blue Star has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 62.06% in its net profit at Rs 41.44 crore for the quarter under review as compared to Rs 25.57 crore for the same quarter in the previous year. Total income of the company increased by 19.08% at Rs 1,486.44 crore for Q4FY19 as compared Rs 1,248.32 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported over 2- fold jump in its net profit at Rs 79.84 crore for the quarter under review as compared to Rs 31.71 crore for the same quarter in the previous year. Total income of the company increased by 18.65% at Rs 1,601.89 crore for Q4FY19 as compared Rs 1,350.15 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 7.88% in its net profit at Rs 121.79 crore as compared to Rs 132.21 crore for the previous year. However, total income of the company increased by 11.05% at Rs 4,806.81 crore for year under review as compared to Rs 4,328.33 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 32.02% in its net profit at Rs 190.06 crore as compared to Rs 143.96 crore for the previous year. Total income of the company increased by 12.74% at Rs 5,259.53 crore for year under review as compared to Rs 4,665.08 crore for year ended March 31, 2018.

 

03-May-2019

Tata Power reports 92% fall in Q4 consolidated net profit

Tata Power Company has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a net profit of Rs 53.86 crore for the quarter under review against net loss of Rs 3939.12 crore for the same quarter in the previous year. Total income of the company increased by 7.41% at Rs 2,269.45 crore for Q4FY19 as compared Rs 2,112.80 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 92.13% in its net profit at Rs 107.32 crore for the quarter under review as compared to Rs 1,364.33 crore for the same quarter in the previous year. However, total income of the company increased marginally by 1.87% at Rs 7,416.89 crore for Q4FY19 as compared Rs 7,281.02 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a net profit of Rs 1708.58 crore against net loss of Rs 3150.52 crore for the previous year. Total income of the company decreased marginally by 0.20% at Rs 8,449.18 crore for year under review as compared to Rs 8,465.93 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 6.53% in its net profit at Rs 2,440.41 crore as compared to Rs 2,610.85 crore for the previous year. However, total income of the company increased by 9.83% at Rs 29,954.47 crore for year under review as compared to Rs 27,272.96 crore for year ended March 31, 2018.

 

03-May-2019

Sunteck Realty to raise Rs 2,000 crore through various means

Sunteck Realty has received approval to raise funds not more than Rs 2,000 crore in one or more tranches either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. The Board of Directors of the Company at its meeting held on May 02, 2019 has approved the same.

Out of Rs 2,000 crore, the company is planning to raise Rs 1500 crore through Non-Convertible Debt by way of private placement in one or more tranches. Besides, the company will raise Rs 500 crore by way of equity shares and/or any other securities convertible into equity shares in one or more tranches.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

 

03-May-2019

INOX Leisure commences operations of multiplex cinema theatre in Vadodara

INOX Leisure has commenced the commercial operations of a Multiplex Cinema Theatre taken on Lease basis, located INOX Leisure, Taksh Galaxy Mall, Waghodia, Vadodara, Gujarat, with effect from May 3, 2019. The said Multiplex Cinema Theatre has 5 screens and 976 seats.

INOX is now present in 67 cities with 141 Multiplexes, 583 screens and a total seating capacity of 1,37,365 seats across India.

INOX Leisure is amongst India’s largest multiplex chains.

 

03-May-2019

MCX completes first physical delivery of 430 tonne of zinc from futures platform

Multi Commodity Exchange of India (MCX) has completed the first physical delivery of 430 tonne of zinc, a base metal, traded through the April futures contract. Pay-in and pay-out of the contract concluded on May 2, 2019, for a quantity of 430 tonne. The contract was settled with no delivery defaults.

The deliveries were made by two entities Indu Corporation, through IIFL Wealth Management, and Phoenix Industries, through Motilal Oswal Financial Services (MOFSL). The metal was delivered at the MCX-approved warehouse at Bhiwandi in Thane district of Maharashtra.

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.

 

03-May-2019

Tech Mahindra launches blockchain technology for telecom sector in India

Tech Mahindra has deployed a cutting-edge solution leveraging Blockchain Technology aiming to mitigate spam calls for telecom sector in India, which is impacting over 300 million mobile subscribers.

Tech Mahindra designed the Blockchain solution, constituting more than 25 per cent of the Indian market share, in compliance with the regulations and guidelines of TRAI (Telecom Regulatory Authority of India) in order to enable Telecom providers prevent unauthorized access of their subscribers’ data.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

 

03-May-2019

SEBI levies penalty of Rs 1 lakh on Bhilai Engineering Corporation

The Securities and Exchange Board of India (SEBI) has levied a penalty on Bhilai Engineering Corporation for failing to obtain SCORES authentication. SEBI has imposed a penalty of Rs 1 lakh on the company.

SCORES is the regulator’s online platform designed to help investors lodge their complaints against listed companies pertaining to the securities market.

Bhilai Engineering Corporation (BEC) comprises of versatile plants with state of the art facilities that strengthen a wide span of business activities from Manufacturing, Exporting and undertaking Turnkey Projects.

 

03-May-2019

Coal India to supply 530 MT of coal to power sector in FY20

Coal India will supply 530 million tonne (MT) of coal to the power sector in 2019-20, 8.6 per cent rise over the previous year. Supply to the power sector during the last year was 488 million tonne, a rise of 7.5 per cent over 2017-18.

Keeping focus on power sector, the company’s share of dispatch to power sector has increased to 80 per cent in FY19 from the level of 78 per cent during the previous two years.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

 

03-May-2019

Glenmark Pharma expecting 12 to 14% growth in its India revenues during FY20

Glenmark Pharmaceuticals is expecting 12 to 14% growth in its India revenues during the current fiscal (FY20). The company had reported Rs 2514 crore revenues from India in FY18 against Rs 2303 crore in the previous year at growth of 10%. During the first nine months of the FY19, the company reported Rs 2109 crore revenues.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

 

03-May-2019

Godrej Properties purchases new project in Chembur

Godrej Properties has purchased new project in Chembur, Mumbai. Spread across 2.2 acres, this project will offer approximately 33,000 square meters (approximately 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience.

The site is strategically located on the main Sion-Panvel Road and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.

 

03-May-2019

Tata Motors reports 20% decline in domestic sales in April 2019

Tata Motors’ Commercial and Passenger Vehicles Business sales in the domestic market in April 2019 at 42,577 units witnessed a drop of 20%, as against 53,511 units sold in April 2018, as weak consumer sentiments continued.

Tata Motors Commercial Vehicles (CV) Business sales in the domestic market in April 2019, at 29,883 units registered a drop of 18% compared to 36,276 units sold Last April as the sentiments among transporters continue to be weak. The postponement of demand due to general elections have also impacted CV sales.

The M&HCV sales in the domestic market in April 2019 declined by 33%, at 9,403 units, compared to 14,028 units sold in April 2018. The I&LCV truck sales in April 2019 recorded a growth of 10% at 3,546 units as compared to 3,229 units sold in April 2018 as this segment has not been much affected by the Low market sentiments.

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.

 

03-May-2019

SSWL reports total wheel rim sales of 11.99 lakh in April

Steel Strips Wheels (SSWL) has reported total wheel rim sales of 11.99 lakh in April 2019 against 12.82 lakh in April 2018 representing de-growth of 7% Y-o-Y.

The company has achieved gross turnover of Rs 197.22 crore in April 2019 against Rs 211.79 crore in April 2018, there by recording a de-growth of 7% and achieved Net turnover of Rs 161.07 crore in April 2019 against Rs 158.81 crore in April 2018, recording a de-growth of 1%.

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.

 

03-May-2019

Persistent Systems joins Siemens’ MindSphere Partner Program

Persistent Systems has joined Siemens’ MindSphere Partner Program to deliver its Industrial IoT solutions to market. MindSphere is the cloud-based, open IoT operating system from Siemens that connects products, plants, systems, and machines, enabling businesses to harness the wealth of data generated by the Internet of Things (IoT) with advanced analytics.

The company is delivering MindSphere solutions for Smart Energy Management, Overall Equipment Effectiveness (OEE) and other related offerings to manufacturing clients in APAC and North America. In addition to offering clients a fast track to remote connectivity and management for machines and programmable logic controller (PLC) assets through its MindSphere ‘Connect & Monitor’ integration services, Persistent offers custom analytics that leverage MindSphere Analytics and Machine Learning service APIs.

Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare and banking & financial services verticals.

 

03-May-2019

Hero MotoCorp reports sales of 574,366 units in April

Hero MotoCorp has reported sales of 574,366 units of motorcycles and scooters in the month of April 2019. Despite the challenging market conditions, the company registered over 7.8 million unit sales in the recently concluded financial year 2019.

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.

 

03-May-2019

Ircon International secures International Railway Contract worth $91.27 million

Ircon International has been awarded an International Railway Contract worth around $91.27 million (equivalent to Rs 635 crore) from Sri Lanka Railways under the Ministry of Transport & Civil Aviation, Government of Sri Lanka.

The contract is for up-gradation of the Northern Railway line from Maho-Omanthai in Sri Lanka. Under the contract, IRCON will upgrade single line broad gauge track from Maho-Omantha of around 128 km length including associated infrastructure works.

Ircon International is an integrated Indian engineering and construction company, specializing in major infrastructure projects, including, railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, EHV sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas, and other infrastructure activities.

 

03-May-2019

Amit Spinning Industries commences trial production at factory

Amit Spinning Industries has started the trial production at its factory located at Sangawade, Kolhapur Hupari Road, Kolhapur, in the state of Maharashtra.

Amit Spinning Industries is engaged in the manufacture of cotton yarn. The company’s vision is to become a world class organization. The company is also in the business activities of Textile-Manufacturing.

 

02-May-2019

Radico Khaitan reports 14% rise in Q4 net profit

Radico Khaitan has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 14.21% in its net profit at Rs 39.05 crore for the quarter under review as compared to Rs 34.19 crore for the same quarter in the previous year. Total income of the company increased by 18.51% at Rs 1,981.85 crore for Q4FY19 as compared Rs 1,672.31 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 52.34% in its net profit at Rs 188.06 crore as compared to Rs 123.45 crore for the previous year. Total income of the company increased by 28.18% at Rs 8,071.29 crore for year under review as compared to Rs 6,297.03 crore for year ended March 31, 2018.

 

02-May-2019

TVS Motor registers 5% sales growth in April 2019

TVS Motor Company has registered a growth of 5% with sales increasing from 304,795 units in April 2018 to 318,937 units in the month of April 2019.Total two-wheelers registered a growth of 4% with sales increasing from 293,418 units in April 2018 to 305,883 units in April 2019. Domestic two-wheeler sales registered a growth of 3% from 241,604 units in April 2018 to 248,456 units in April 2019.

The company’s total exports grew by 13% from 61,798 units registered in the month of April 2018 to 69,565 units in April 2019. Two-wheeler exports grew by 11% increasing from 51,814 units in April 2018 to 57,377 units in April 2019.

Three-wheeler sales of the company grew by 15% increasing from 11,377 units in April 2018 to 13,104 units registered in April 2019.

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

 

02-May-2019

PNB Housing Finance to raise Rs 10,000 crore via NCDs

PNB Housing Finance is planning to raise up to Rs 10,000 crore through the issuance of secured and unsecured non-convertible debentures (NCDs). The company also planning to raise up to $1 billion by way of external commercial borrowings in one or more tranches. The board of directors at their meeting to be held on May 9, 2019 will consider the same.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.

 

02-May-2019

Dabur reports 6% fall in Q4 consolidated net profit

Dabur India has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 17.18% in its net profit at Rs 414.33 crore for the quarter under review as compared to Rs 353.58 crore for the same quarter in the previous year. Total income of the company increased by 5.13% at Rs 1,661.48 crore for Q4FY19 as compared Rs 1,580.46 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 6.47% in its net profit at Rs 371.49 crore for the quarter under review as compared to Rs 397.18 crore for the same quarter in the previous year. However, total income of the company increased by 4.18% at Rs 2,194.25 crore for Q4FY19 as compared Rs 2,106.15 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 17.93% in its net profit at Rs 1264.29 crore as compared to Rs 1072.05 crore for the previous year. Total income of the company increased by 11.13% at Rs 6,547.93 crore for year under review as compared to Rs 5,892.29 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 6.52% in its net profit at Rs 1,446.25 crore as compared to Rs 1,357.74 crore for the previous year. Total income of the company increased by 9.63% at Rs 8,829.22 crore for year under review as compared to Rs 8,053.52 crore for year ended March 31, 2018.

 

02-May-2019

Kansai Nerolac Paints gets nod to merger of wholly-owned subsidiaries with itself

Kansai Nerolac Paints’ board has granted in-principle approval to the merger of Marpol and Perma Construction Aids, both wholly-owned subsidiaries of the company, with the company. The Board of Directors of the company at its meeting held on May 2, 2019 has approved for the same.

Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, Automotive Coatings and Performance coatings.

 

02-May-2019

Havells’ consumer durable brand launches ‘Grande Series’ of ACs

Havells India’s consumer durable brand — Lloyd has launched India’s fastest cooling Air Conditioners – Grande for the upcoming summer season. The new range of Grande ACs can cool down the temperature to 18 degrees Celsius in just 45 seconds.

The new range of ACs aesthetically  designed with a new Acrylic Panel  and equipped with advanced features such as in’built Wi’Fi, 100% copper, unique improved design for quieter operation  & eco’friendly refrigerant to offer delightful experience to discerning customers. The Grande Series’ of AC’s is designed to operate even at 60 degree Celsius ambient temperature which will be a boon for the customers in harsh tropical India summer. The Grande Series, available in 1.0 and 1.5 Ton models comply with the Government mandated 5 Star ISEER Ratings.

Havells India is a leading FMEG company (Fast moving electrical goods) with presence across India. Its product range includes Industrial & Domestic Circuit Protection Switchgear, Cables&  Wires, Motors, Fans, Power Capacitors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches etc.

 

02-May-2019

R Systems International to acquire IBIZ Consultancy Services

R Systems International has received approval for acquisition of 100% shares of IBIZ Consultancy Services India from IBIZ Consulting Pte., Singapore, step down wholly-owned subsidiary. Accordingly, IBIZ Consultancy Services India will become direct wholly-owned subsidiary of the company. The Board of Directors of the company at its meeting held on May 02, 2019 has approved the same.

R Systems International is a software product development and BPO services company. They help companies bring products and services to market quicker by using their proprietary pSuite execution framework.

 

02-May-2019

Som Distilleries’ arm commences commercial operations at Odisha plant

Som Distilleries & Breweries’ wholly owned subsidiary– Som Distilleries & Breweries Odisha has commenced commercial operations from the month of April onwards at its Odisha plant. The company is very much confident of successful operations of the plant in the near future.

Som Distilleries & Breweries is engaged in the business of brewing, fermentation, bottling, canning and blending of beer and Indian made foreign liquor.  

 

02-May-2019

SML Isuzu reports 20% rise in April sales

SML Isuzu has reported 20.1% rise in April 2019 sales. The company has sold 1379 vehicles in April 2019 against 1148 vehicles in April 2018.

SML Isuzu manufactures a range of vehicles such as trucks, buses and ambulances. The company has launched products like 4WD, Samrat, Sartaj, Dual Cab, Supreme-8 tonner, Truck- Super 12, Super ALFD and many more.

 

02-May-2019

IL&FS Transportation defaults on interest payments on various NCDs

IL&FS Transportation Networks has defaulted in payment of the interest around Rs 17.56 crore on various non-convertible debentures (NCDs), because of insufficient funds.

IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.

 

02-May-2019

MRF reports 15% fall in Q4 net profit

MRF has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a fall of 14.91% in its net profit at Rs 293.83 crore for the quarter ended March 31, 2019 as compared to Rs 345.32 crore for the same quarter in the previous year. However, total income of the company increased by 6.04% at Rs 4,182.92 crore for quarter under review as compared to Rs 3,944.75 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a marginal rise of 0.42% in its net profit at Rs 1,096.87 crore as compared to Rs 1,092.28 crore for the previous year. Total income of company increased 4.80% at Rs 16,254.47 crore for year under review as compared to Rs 15,509.55 crore for year ended March 31, 2018.

 

02-May-2019

Bandhan Bank reports 68% rise in Q4 net profit

Bandhan Bank has reported results for the fourth quarter and year ended March 31, 2019.

The Bank has reported a rise of 67.81% in its net profit at Rs 650.87 crore for the quarter ended March 31, 2019, as compared to Rs 387.86 crore for the same quarter in the previous year. Total income of the Bank increased by 42.89% at Rs 2,220.51 crore for the quarter under review as compared Rs 1,553.97 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the Bank has posted a rise of 45.03% in its net profit at Rs 1,951.50 crore as compared to Rs 1,345.56 crore for the same period in the previous year. Total income of Bank increased 39.91% at Rs 7,707.10 crore for year under review as compared to Rs 5,508.48 crore for the period ended March 31, 2018.

 

02-May-2019

Eicher Motors’ motorcycle arm reports 17% fall in total sales in April

Eicher Motors’ motorcycle arm — Royal Enfield has reported 17% fall in total sales to 62,879 units in April. The two-wheeler manufacturer had sold 76,187 units in April 2018.

Domestic sales declined 21% to 59,137 units in April as against 74,627 units in the year-ago month. Exports during the month under review surged 140% to 3,742 units as compared to 1,560 units in April 2018.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

 

02-May-2019

Capacite Infraprojects secures order worth Rs 229 crore

Capacite Infraprojects has received maiden order from Raymond (Realty Division) for a contract value of Rs 229.0 crore for civil & shell works for Aspirational Towers A, B, C and MLCP Building at Raymond, Thane.

Capacite Infraprojects is a fast growing construction company focussed on Residential, Commercial and Institutional buildings. It provides end-to-end construction services for residential buildings, multi level car parks, corporate office buildings and buildings for commercial purposes and buildings for educational, hospitality and healthcare purposes.

 

02-May-2019

Alembic Pharma gets USFDA’s nod for Olopatadine Hydrochloride Ophthalmic Solution

Alembic Pharmaceuticals has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2%. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Pataday Ophthalmic Solution, 0.2%, of Novartis Pharmaceuticals Corporation. Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% is indicated for the treatment of ocular itching associated with allergic conjunctivitis.

Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% have an estimated market size of $62 million for twelve months ending December 2018 according to IQVIA.

Alembic now has a total of 93 ANDA approvals (81 final approvals and 12 tentative approvals) from USFDA.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.

 

02-May-2019

BHEL commissions two units of Kaleshwaram Lift Irrigation Scheme Package-6 in Telangana

Bharat Heavy Electricals (BHEL) has successfully commissioned the first two pumping units (116 MW each) of the 7×116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana. Significantly, the pump for each unit is designed to lift 89.16 cumecs (cubic metres per second) of water by 105.5 metres.

The company’s scope in the project comprises complete Electrical & Mechanical (E&M) works including design, manufacture, supply and supervision of erection and commissioning of 7 sets of Vertical Pump-Motor sets along with associated auxiliaries. The equipment has been supplied from company’s manufacturing units at Bhopal, Rudrapur and Bengaluru, while the supervision of erection and commissioning at the site was carried out by the company’s Power Sector Southern Region division, Chennai.

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.

 

02-May-2019

Natco Pharma receives USFDA’s nod for Bosentan tablets

Natco Pharma has received final approval of Abbreviated New Drug Application (ANDA) from the U.S. Food and Drug Administration (USFDA) for Bosentan tablets in the strengths of 62.5 mg and 125 mg.

Bosentan is used for the treatment of patients with pulmonary arterial hypertension. The tablets of Natco marketing by its partner Lupin are a generic version of Actelion Pharmaceuticals’ Tracleer tablets in the same strengths.

As per IQVIA MAT March 2019 data, Bosentan tablets 62.5 mg and 125 mg had an annual sales of around $84.8 million in the US market.

Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.

 

02-May-2019

Hero MotoCorp eyeing leadership in premium motorcycle segment over next 5 years

Hero MotoCorp is eyeing leadership position in the premium motorcycle segment over the next five years. The company aims to bring in new models ranging up to 400-450 cc (middleweight) to consolidate its position in the segment.

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.

 

02-May-2019

TVS Motor Company reports 12% rise in two-wheeler sales in FY19

TVS Motor Company has reported 11.6% growth in two-wheeler sales during the year ended March 2019. The company’s two-wheeler sales including exports stood at 33.67 lakh units registered in the year 2017-18 to 37.57 lakh units in the year 2018-19. Motorcycle sales during the fiscal year grew by 15% increasing from 13.56 lakh units in the year ended March 2018 to 15.59 lakh units in the year ended March 2019.

The company’s Scooter sales grew by 14.6% increasing from 11.35 lakh units in the year ended March 2018 to 13.01 lakh units in the year ended March 2019. Three-wheeler sales increased by 57.6% from 0.99 lakh units in the year ended March 2018 to 1.56 lakh units in the year ended March 2019.

The total export of the company recorded a growth of 32.8% increasing from 5.74 lakh units in the year ended March 2018 to 7.62 lakh units in the year ended March 2019.

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

 

02-May-2019

ONGC evacuates 480 employees before cyclone Fani makes landfall

Oil and Natural Gas Corporation (ONGC) has evacuated 480 of its employees from rigs operating in the Bay of Bengal ahead of an impending cyclone that is expected to make landfall on Friday, May 03, 2019. The company has also moved at least four rigs to safer waters away from the path of severe cyclonic storm Fani.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

 

02-May-2019

Zensar Technologies reports 12% rise in Q4 consolidated net profit

Zensar Technologies has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 43.69% in its net profit at Rs 82.91 crore for the quarter under review as compared to Rs 57.70 crore for the same quarter in the previous year. Total income of the company increased by 7.43% at Rs 390.05 crore for Q4FY19 as compared Rs 363.08 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 12.34% in its net profit at Rs 83.19 crore for the quarter under review as compared to Rs 74.05 crore for the same quarter in the previous year. Total income of the company increased by 28.64% at Rs 1,082.41 crore for Q4FY19 as compared Rs 841.45 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 33.97% in its net profit at Rs 258.00 crore as compared to Rs 192.58 crore for the previous year. Total income of the company increased by 7.90% at Rs 1,455.07 crore for year under review as compared to Rs 1,348.56 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 29.28% in its net profit at Rs 318.65 crore as compared to Rs 246.49 crore for the previous year. Total income of the company increased by 27.56% at Rs 4,059.01 crore for year under review as compared to Rs 3,182.13 crore for year ended March 31, 2018.

 

02-May-2019

Raymond reports 24% rise in Q4 consolidated net profit

Raymond has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 21.57% in its net profit at Rs 27.11 crore for the quarter under review as compared to Rs 22.30 crore for the same quarter in the previous year. Total income of the company increased by 7% at Rs 917.66 crore for Q4FY19 as compared Rs 857.66 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 24.27% in its net profit at Rs 67.70 crore for the quarter under review as compared to Rs 54.48 crore for the same quarter in the previous year. Total income of the company increased by 11% at Rs 1,837.11 crore for Q4FY19 as compared Rs 1,655.12 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 24.73% in its net profit at Rs 73.82 crore as compared to Rs 98.08 crore for the previous year. However, total income of the company increased by 9.68% at Rs 3,440.52 crore for year under review as compared to Rs 3,136.79 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 23.47% in its net profit at Rs 174.77 crore as compared to Rs 141.55 crore for the previous year. Total income of the company increased by 11.33% at Rs 6,707.65 crore for year under review as compared to Rs 6,024.91 crore for year ended March 31, 2018.

 

02-May-2019

L&T acquires 20% stake in Mindtree from Cafe Coffee Day founder

Larsen & Toubro (L&T) has acquired around 20 percent stake in Bengaluru-based IT services firm Mindtree from Cafe Coffee Day founder VG Siddhartha through block deal for about Rs 3,210 crore. The company bought 3.27 crore shares held by Siddhartha and Coffee Day Trading on April 30, 2019.

The infrastructure major is in the fray to buy up to 66 percent stake in the Mindtree for around Rs 10,800 crore. L&T has entered into a deal to buy Cafe Coffee Day owner Siddhartha’s 20.32 percent stake in Mindtree and has also placed an order with brokers to pick up another 15 percent of the company shares from the open market for about Rs 2,500 crore.  

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

 

02-May-2019

Ashok Leyland reports 7% rise in April sales

Ashok Leyland has reported a rise of 7% in April 2019 sales (Domestic + Exports) to 13626 units, as against 12677 units sold in the same month of last year. The company reported an increase of 4% in its medium and heavy commercial vehicle (M&HCV) products segment to 9346 units in April 2019, as compared to 8968 units sold in April 2018.

The light commercial vehicle (LCV) segment of the company registered sales of 4280 units in April 2019, a rise of 15%, as compared to 3709 units sold in April 2018.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.

 

02-May-2019

BSE’s online MF platform executes 42.6 lakh transactions in April

Bombay Stock Exchange’s (BSE) online mutual Fund platform–BSE StAR MF has executed 42.6 lakh transactions in April. The BSE had launched its BSE StAR MF platform on December 4, 2009.

BSE provides an efficient and transparent market for trading in equity, debt instruments, derivatives, mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME).

 

02-May-2019

Ambuja Cement reports 2.4% rise in sales volume for Q1

Ambuja Cement has reported 2.4% growth in Cement sales volumes in March quarter of 2019 at 6.37 million tonnes (MT) against 6.22 MT for March quarter previous year, while net sales grew by 3% year on year.

The company’s sales growth of premium products such as ‘Roof Special’, ‘Cool Walls’ and ‘Pura Sand’ have seen a double digit growth in January – March 2019 over the previous quarter.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.

 

02-May-2019

Eicher Motors’ JV reports sales of 3,961 units in April

VE Commercial Vehicles, a joint venture (JV) between Eicher Motors and Volvo Group, has reported sales of 3,961 units in April, nearly flat on year. The JV had sold 3,960 units in April 2018.

Eicher branded trucks and buses recorded total sales of 3,882 units in April as compared with 3,940 units in the year-ago month, down 1.47%. In the domestic market, sales of Eicher branded trucks and buses were at 3,663 units last month, up 8.05% from 3,390 units sold in the same month a year ago.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

 

02-May-2019

IOC’s R&D centre patent filing breaches 1,000-mark

Indian Oil Corporation’s (IOC) research and development (R&D) centre at Faridabad has become the first public sector oil and gas company to cross the milestone of filing 1,000 patents.

The R&D Centre’s IP (Intellectual Property) portfolio comprises 794 active patents, of which 542 patents were granted abroad and 252 in India. The centre has also registered a healthy commercialisation rate for its patents, higher than the global average.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

 

02-May-2019

Ashiana Housing unveils innovative sales, marketing initiative ‘Know your neighbour’

Ashiana Housing has unveiled an innovative sales and marketing initiative ‘Know your neighbour’ to connect with the elderly community. The company had launched its first Senior Living project in 2005.

‘Know your neighbour’ was recently held at Ashiana Shubham Chennai. It is a platform where the present customers and prospective customers were invited for a get-together, where they got to socialize. This initiative was in line with the company’s philosophy which is to encourage the seniors to live an independent, healthier, more active life.

Ashiana Housing is a real estate development company. It is engaged in building residential and commercial projects. The firm also offers retirement resorts, group housing, hotels, retail and facility management.

 

02-May-2019

Britannia Industries reports 12% rise in Q4 consolidated net profit

Britannia Industries has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a rise of 18.39% in its net profit at Rs 289.69 crore for the quarter ended March 31, 2019 as compared to Rs 244.69 crore for the same quarter in the previous year. Total income of the company increased by 12.27% at Rs 2,726.40 crore for quarter under review as compared to Rs 2,428.40 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported rise of 11.82% in its net profit at Rs 294.27 crore for the quarter ended March 31, 2019 as compared to Rs 263.16 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 10.80% at Rs 2,860.75 crore for quarter under review as compared to Rs 2,581.93 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a rise of 18.39% in its net profit at Rs 1,122.20 crore as compared to Rs 947.89 crore for the previous year. Total income of company increased 11.92% at Rs 10,672.97 crore for year under review as compared to Rs 9,536.10 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 15.09% in its net profit at Rs 1,155.46 crore as compared to Rs 1,003.96 crore for the previous year. Total income of company increased by 10.88% at Rs 11,261.12 crore for year under review as compared to Rs 10,156.47 crore for year ended March 31, 2018.

 

02-May-2019

Ambuja Cements reports 35% rise in Q1 consolidated net profit

Ambuja Cements has reported results for the First quarter ended March 31, 2019.

The company has reported a rise of 57.11% in its net profit at Rs 426.98 crore for the quarter ended March 31, 2019 as compared to Rs 271.77 crore for the same quarter in the previous year. Total income of the company increased by 8.74% at Rs 3,167.82 crore for quarter under review as compared to Rs 2,913.30 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported rise of 35.18% in its net profit at Rs 695.30 crore for the quarter ended March 31, 2019 as compared to Rs 514.34 crore for the corresponding quarter. Total consolidated income of the company rose 8.36% at Rs 7,093.27 crore for quarter under review as compared to Rs 6,545.91 crore for the same quarter ended previous year.

 

02-May-2019

BASF reports 31% rise in Q4 net profit

BASF India has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 30.73% in its net profit at Rs 86.27 crore for the quarter under review as compared to Rs 65.99 crore for the same quarter in the previous year. However, total income of the company marginally decreased by 2.44% at Rs 1,321.31 crore for Q4FY19 as compared Rs 1,354.36 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 66.85% in its net profit at Rs 81.72 crore as compared to Rs 246.50 crore for the previous year. However, total income of the company increased by 5.11% at Rs 6,039.01 crore for year under review as compared to Rs 5,745.61 crore for year ended March 31, 2018.

 

02-May-2019

Coal India logs 1% rise in coal production in April

Coal India has reported 1% rise in coal production in April 2019 to 45.29 million tonne as compared with 44.86 million tonne year ago. Coal offtake during April rose 2.6% to 52.35 million tonnes as compared with 51.02 million tonnes in the year-ago period.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

 

02-May-2019

BHEL signs MoU with ARAI for e-mobility projects

Bharat Heavy Electricals (BHEL) and Automotive Research Association of India (ARAI), an autonomous body affiliated to the Ministry of Heavy Industries and Public Enterprises have signed a Memorandum of understanding (MoU) for cooperation on various projects related to e-mobility.

The company’s unique strength as technology developer and implementer and ARAI’s advanced facilities and expertise in design, testing and certification of mobility products, will generate synergies in implementing solutions for Electric & Trolley Bus, EV Chargers, Battery & Charger testing, etc.

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.

 

02-May-2019

M&M’s Auto Sector registers 9% fall in April sales

Mahindra & Mahindra (M&M) has reported auto sales performance for April 2019 which stood at 43,721 vehicles, compared to 48,097 vehicles during April 2018, a fall of 9%. The company’s domestic sales touched 41,603 vehicles during April 2019, as against 45,217 vehicles in April 2018. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 19,966 vehicles in April 2019.

In the Commercial Vehicles segment, the company sold 17,321 vehicles in April 2019, as against 18,963 vehicles in April 2018. In the Medium and Heavy Commercial Vehicles segment, M&M sold 474 vehicles for the month. Exports for April 2019 stood at 2,118 vehicles.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

02-May-2019

Tata Steel opens news sales office in Kerala

Tata Steel has opened a new sales office in Kochi, Kerala. The initiative has a twin-pronged objective of addressing the growing demand for steel products in Kerala and strengthening the company’s customer connect in the southern State. With the opening of its office in Kochi, the Tata Steel’s branded product footprint will now be firmly entrenched in all 14 districts of the State.

The opening of the new office is expected to reinforce the company’s customer connect and its ability to offer services and solutions with greater focus.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.

 

02-May-2019

Bajaj Auto reports marginal rise in April sales

Bajaj Auto has registered a marginal rise of 2% in total sales to 423,315 units in April 2019 against 415,168 units in April 2018. The company’s total exports out of the above stood at 191,211 units, registering a marginal gain of 3% as compared to 185,704 units sold in the corresponding month last year.

The sales of the motorcycles increased by 5% and stood at 366,268 units in April 2019 under review against 349,617 units in April 2018. The company has reported 13% fall in commercial vehicles sales, which stood at 57,047 units as compared to 65,551 units in month of April 2018.

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.

 

02-May-2019

Maruti Suzuki reports total sale of 143,245 units in April

Maruti Suzuki India has reported total sales of 143,245 units in April 2019, as compared 172,986 units in April 2018, registering fall of 17.2%. This includes 134,068 units in domestic market and 9,177 units of exports.

The company sold 22,766 vehicles under mini segment (including Alto, Wagon R) in April 2019, as against 37,794 units sold in corresponding month previous year. The company sold 72,146 vehicles under Compact segment; 2,789 vehicles under Midsize; 22,035 units under Utility Vehicles segment and 11,649 units under Vans category. The company has also sold 2,319 vehicles under Light CV segment (including super carry) in April 2019.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

02-May-2019

Embassy Office Parks REIT opens Four Seasons Hotel in Bengaluru

Embassy Office Parks REIT has opened the Four Seasons Hotel at its Embassy One complex in Bengaluru. The 230 key hotel is India’s second Four Seasons hotel and is a core component of the Embassy One commercial complex that is situated on the main arterial road between Bengaluru’s Central Business District (CBD) and its international airport.

In addition to the hotel, Embassy One comprises a small-format office building totalling 250,000 square feet, as well as ancillary retail amenities.

Embassy Office Parks is India’s first Real Estate Investment Trust (REIT).

 

02-May-2019

Bharti Airtel’s arm reports profit of $412 million for FY19

Bharti Airtel’s subsidiary — Airtel Africa has reported its first full-year profit at $412 million for the 2018-19 fiscal. This growth is helped by higher data consumption and Airtel Money penetration. The company had posted a loss of $138 million for 2017-18.

The company’s revenue increased by 5.73 per cent to $3,077 million in 2018-19 from $2,910 million a year ago. Data customers in Airtel Africa network increased by 5.1 million to 30 million as compared to 24.9 million in the previous year. Airtel Money revenue grew by close to 60 per cent to $243.3 million in FY19 as compared to $152.4 million in 2017-18.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

02-May-2019

V-Mart Retail opens two new stores

V-Mart Retail has opened two new stores one in the state of Himachal Pradesh and one in the state of Assam. This takes the total number of stores to 220 in 174 Cities across 17 states and total tally of Himachal Pradesh is 3 stores and Assam is 7 stores.

V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family.

 

02-May-2019

Vakrangee wins ‘Financial Services Retailer of the year’ award

Vakrangee has been awarded as the best ‘Financial Services Retailer of the Year’ at the recently concluded Indian Retail Awards 2019 on April 30, 2019 in New Delhi in a glittering ceremony before a room full of the leading names in Indian & world retailing.

This award recognises company’s Nextgen Vakrangee Kendras’ growth and customer satisfaction in 2018-19. The objective of the Indian Retail Awards is to recognize the Retailers who are closing the gap between operational reality and consumer expectations with great retailing practices.

Vakrangee is the unique technology driven company focused on building India’s largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, ecommerce and logistics services to the unserved & underserved rural, semi-urban and urban markets.

 

02-May-2019

DHFL planning to raise funds via various means

Dewan Housing Finance Corporation (DHFL) is planning for raising of funds by way of issuance of equity shares and/or other securities of the Company including by way of preferential issue, qualified institutions placement or rights issue or any other permissible mode or a combination thereof through issue of prospectus and/or placement document and/or letter of offer and/or any other permissible / requisite offer document. The Board of Directors of the Company at its meeting to be held on May 04, 2019 to consider the same.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

 

02-May-2019

Atul Auto reports 22.21% sales growth in April

Atul Auto has reported sale of 3,346 units, with a rise of 22.21% for the month of April 2019 as compared to 2,738 units sold in April 2018.

The company had reported sale of 4,612 units, with a rise of 15.21% for the month of March 2019 as compared to 4,003 units sold in March 2018.

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.

 

02-May-2019

Dilip Buildcon gets provisional completion certificate for project in Uttar Pradesh

Dilip Buildcon has received provisional completion certificate from the authority on April 30, 2019 for the project in Uttar Pradesh and has declared the project fit for entry into commercial operation as on April 30, 2019 and consequently the company is entitled to maximum bonus of Rs 37,90,08,000 in lieu of earlier completion (188 days prior to the schedule completion date) of the Project.

The project ‘Four Laning of Lucknow-Sultanpur Section of NH-56 from Km 11.5000 (design chainage 11.500) to Km 134.700 (design chainage Km 138.925) (Total Length 127.425 Km) in the State of Uttar Pradesh under NHDP Phase – IV on Hybrid Annuity Basis’ has been provisionally completed.

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.

 

02-May-2019

Bajaj Finserv offers wallet care insurance

Bajaj Finserv is offering Wallet Care Insurance, which helps customers block all their credit cards and debit cards with a single phone call, no matter where they are in the world, without any hassles. This card protection plan is very affordable, with coverage up to Rs 2 lakh at just Rs 599. The customer can also avail emergency travel and hotel assistance and as well as get free replacement of important identity proofs like PAN card.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.

 

02-May-2019

PPAP Automotive wins award from Toyota, Hyundai

PPAP Automotive has won 3 awards. The first award is for Zero Defect Supplies from Toyota Kirloskar Motor; second award for achieving targets in Quality from Toyota Kirloskar Motor; and third award is the Appreciation Award for Partnership Day from Hyundai Motor India.

PPAP Automotive is a leading manufacturer of high quality automotive sealing systems and exterior products in India. PPAP has an experienced engineering team, which is capable of designing and manufacturing products based on customer specifications.

 

02-May-2019

L&T’s construction arm secures contract from MGBM

Larsen & Toubro’s (L&T) construction arm — L&T Construction’s Metallurgical & Material handling Business has been awarded a large order from MA’ADEN Gold and Base Metal Company (MGBM), wholly owned subsidiary of Saudi Arabia Mining Company (MA’ADEN) for setting up Mansourah Massarrah Gold project.

This (EPC) Engineering, Procurement & Construction order for Gold processing plant in the Kingdom of Saudi Arabia, secured against stiff global competition is the largest single EPC order for the Metallurgical business in International market.

Mansourah Massarrah gold project once commissioned will be the largest capacity gold processing plant for MA’ADEN. This project will be developed in consortium with OUTOTEC based on the latest Pressure Oxidation Technology (PDX) and will be one of its kind within KSA.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

 

02-May-2019

M&M reports 8% decline in total tractor sales in April

Mahindra & Mahindra’ (M&M) Farm Equipment Sector (FES) has reported 8% decline in total tractor sales in April at 28,552 units. The company had sold 30,925 units in April last year.

The Domestic sales in April 2019 were at 27,495 units, as against 29,884 units during April 2018. Exports for the April 2019 month stood at 1,057 units against 1041 units in April last year.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

02-May-2019

Lupin in alliance with Natco receives USFDA approval for Bosentan Tablets

Lupin in alliance with Natco Pharma (Natco) has received approval for Bosentan Tablets, 62.5 mg and 125 mg, from the United States Food and Drug Administration (USFDA) to market a generic version of Actelion Pharmaceuticals’ Tracleer Tablets, 62.5 mg and 125 mg.

The company and Natco’s Bosentan Tablets, 62.5 mg and 125 mg, is the generic version of Actelion Pharmaceuticals’ Tracleer Tablets, 62.5 mg and 125 mg. It is indicated for the treatment of pulmonary arterial hypertension in adults to improve exercise ability and to decrease clinical worsening.

Bosentan Tablets, 62.5 mg and 125 mg had an annual sales of approximately $84.8 million in the US (IQVIA MAT March 2019).

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

 

02-May-2019

Skipper’s partnership firm opens new factory in Hyderabad

Skipper and Metzer’s partnership firm — Skipper-Metzer India LLP has opened its new factory in Hyderabad. The 2.50 acres facility stands at the forefront of Drip Irrigation manufacturing and engineering expertise in India, with an annual manufacturing capacity of 880 Lakh meters/annum of various drip and sprinkler irrigation products.

The plant incorporates cutting-edge Israeli technologies and has been designed with the flexibility to enable smart, connected manufacturing technologies which will support improved process efficiency, delivery and quality. The first phase of the project includes an investment of Rs 20 crore and a projected expenditure of Rs 130 crore in a decade. Production from the project’s first phase will begin later this year.

Skipper is engaged in structural fabrication and manufacturing of mild steel and galvanized iron pipes, steel tubular poles, scaffolding and accessories and PVC pipes. Structural fabrication is the major contributor to the revenue of the company.

 

02-May-2019

Shoppers Stop reports 45% fall in Q4 net profit

Shoppers Stop has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 44.90% in its net profit at Rs 11.45 crore for the quarter under review as compared to Rs 20.78 crore for the same quarter in the previous year. Total income of the company decreased by 6.40% at Rs 796.37 crore for Q4FY19 as compared Rs 850.83 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported around 7-fold jump in its net profit at Rs 78.75 crore as compared to Rs 11.60 crore for the previous year. However, total income of the company decreased by 3% at Rs 3,499.19 crore for year under review as compared to Rs 3,607.51 crore for year ended March 31, 2018.

 

02-May-2019

Hero MotoCorp launches three new premium bikes

Hero MotoCorp has launched three new premium bikes priced between Rs 94,000 and Rs 1.05 lakh (ex-showroom Delhi), with an eye on leadership position in the segment.

The 200-cc X Pulse 200T is priced at Rs 94,000, adventure bike X Pulse 200 is tagged at Rs 97,000 and Rs 1.05 lakh (with fuel injection), while the Xtreme 200S is priced at Rs 98,500 (all prices ex-showroom Delhi). The company will soon start bookings for the premium bike range with retail sales.

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.

 

02-May-2019

Paul Merchant to bid for acquisition of 51% stake in Puma Realtors

Paul Merchant has received approval for the submission of Expression of Interest for submitting resolution plan for PUMA Realtors (PRPL) to acquire 51% equity shareholding in the company, which is under Corporate Insolvency Resolution process. The Board of Directors of the Company at its meeting held on April 30, 2019 has approved the same.

The main activity of PRPL is to carry on the business of real estate, infrastructure projects as promoters, developers and builders etc.

No shares have been acquired at this stage. However it is proposed to acquire 51% stake in the target entity if the bid of the Company is successful. The Bid for proposed acquisition will be submitted alongwith two other Bidders, who propose to acquire balance 49% stake.

Paul Merchants is engaged in international inward remittance, foreign exchange and tours, and travels and air ticketing. The company’s segments include Forex, Western Union, Travel and Others.

 

02-May-2019

Cochin Shipyard inks contract for anti-submarine warfare shallow water crafts

Cochin Shipyard has signed a contract for construction and supply of eight Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs) for Indian Navy. CSL was the successful bidder (L1) in the tender floated by the Ministry of Defence for this project.

The order value for these eight vessels is pegged at Rs 6,311.32 crore. The first ship is to be delivered within 42 months from contract signing date and subsequent balance ships delivery schedule will be two ships per year. The project will have to be completed within 84 months from date of signing the contract.

Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company caters to clients engaged in India’s defence segment and global commercial shipping sector.

 

02-May-2019

NIIT Technologies’ AdvantageGo launches Underwriting workbench solution

NIIT Technologies’ commercial insurance and reinsurance product — AdvantageGo has launched its ‘Underwriting’ workbench solution. Specifically designed for and in partnership with underwriters, ‘Underwriting’ streamlines and automates low-value tasks, systemises processes and improves operational excellence.

Powered by an ecosystem of data providers that supports data led decisions, ‘Underwriting’ proactively delivers new business insights and risk specific knowledge. When combined with an underwriter’s own intellectual property and existing data assets, underwriters can begin to create new products, understand risk at new levels of granularity and differentiate beyond their peers.

NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia, and Australia. NIIT Technologies services clients in travel and transportation, banking and inanely, services, insurance.

 

02-May-2019

Escorts Agri Machinery Segment reports 15% fall in tractor sales in April

Escorts Agri Machinery Segment (EAM) has reported sale of 5264 tractors in April 2019 as compared to 6186 tractors in April 2018, registering fall of 14.9%.

The domestic sales for the month of April 2019 stood at 4986 tractors, down by 18.2% as against 6094 tractors in April 2018. However, exports for April 2019 stood at 278 tractors against 92 tractors sold in April 2018, registering a 3-fold jump.

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.

 

30-Apr-2019

Cipla’s arm acquires 30% stake in Brandmed

Cipla’s wholly owned subsidiary — Cipla Medpro South Africa (Pty) has completed closing of transaction and acquired 30% stake in Brandmed (Pty). Out of the total upfront cash consideration payment of ZAR 65 million, ZAR 50 million has been paid and balance will be paid over a period of next 12 months.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.

 

30-Apr-2019

Hero Motocorp reports 25% fall in Q4 net profit

Hero Motocorp has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a fall of 24.51% in its net profit at Rs 730.32 crore for the quarter ended March 31, 2019 as compared to Rs 967.40 crore for the same quarter in the previous year. Total income of the company decreased by 7.80% at Rs 8049.18 crore for quarter under review as compared to Rs 8730.54 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a fall of 8.45% in its net profit at Rs 3384.87 crore as compared to Rs 3697.36 crore for the previous year. However, total income of company increased marginally by 2.83% at Rs 34,341.79 crore for year under review as compared to Rs 33,397.64 crore for year ended March 31, 2018.

 

30-Apr-2019

Yes Bank reports net loss of Rs 1507 crore in Q4

Yes Bank has reported results for the fourth quarter and year ended March 31, 2019.

The bank has reported a net loss of Rs 1,506.64 crore for the quarter ended March 31, 2019 against net profit of Rs 1,179.44 crore for the same quarter in the previous year. However, total income of the bank increased by 17.09% at Rs 8,388.23 crore for quarter under review as compared to Rs 7,163.95 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the bank has posted a fall of 59.28% in its net profit at Rs 1,720.27 crore as compared to Rs 4,224.56 crore for the previous year. However, total income of bank increased 34.22% at Rs 34,214.90 crore for year under review as compared to Rs 25,491.25 crore for year ended March 31, 2018.

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30-Apr-2019

Sudarshan Chemical Industries completes divestment of IMSD to GMM Pfaudler

Sudarshan Chemical Industries has completed the divestment of its Industrial Mixing Solutions Division (IMSD) to GMM Pfaudler (GMMP) on a going concern basis in terms of the definitive agreements executed between the Company and GMMP.

Sudarshan Chemical Industries is engaged in the manufacture of organic and inorganic pigments, mica-based effect pigments, chemical intermediates and pesticides.

 

30-Apr-2019

Castrol conducts training programme of Truck Aasana in New Delhi

Castrol India has conducted a training programme of Truck Aasana for the truck driver community in New Delhi. This training as part of the final leg of Transform Truckers Abhiyaan, a Zee Media initiative, sponsored by Castrol, was conducted across 13 states in the country to further spread the message of health and wellbeing amongst truck drivers.

Castrol India is an India-based company engaged in providing coke and refined petroleum products. The company is involved in manufacturing lubricating oils.

 

30-Apr-2019

Max India planning to venture into new business verticals

Max India is planning to venture into new business verticals, after divesting healthcare and health insurance business. The new business areas will be in adjacencies to group’s current verticals of life insurance, real estate, senior care, hospitality. The company will also offer shareholders of the company a part of the divestment proceeds from healthcare and insurance business.

Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.

 

30-Apr-2019

TVS Motor reports 19% fall in Q4 net profit

TVS Motor Company has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a fall of 19.19% in its net profit at Rs 133.83 crore for the quarter ended March 31, 2019 as compared to Rs 165.61 crore for the same quarter in the previous year. However, total income of the company increased by 9.23% at Rs 4,387.60 crore for quarter under review as compared to Rs 4,016.75 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a marginal rise of 1.14% in its net profit at Rs 670.14 crore as compared to Rs 662.59 crore for the previous year. Total income of company increased 16.65% at Rs 18,217.46 crore for year under review as compared to Rs 15,617.66 crore for year ended March 31, 2018.

 

30-Apr-2019

Exide Industries reports 11% rise in Q4 net profit

Exide Industries has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a rise of 11.14% in its net profit at Rs 210.68 crore for the quarter ended March 31, 2019 as compared to Rs 189.56 crore for the same quarter in the previous year. Total income of the company increased by 5.47% at Rs 2,615.26 crore for quarter under review as compared to Rs 2,479.69 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 26.29% in its net profit at Rs 844.05 crore as compared to Rs 668.35 crore for the previous year. Total income of company increased 11.65% at Rs 10,626.81 crore for year under review as compared to Rs 9,518.21 crore for year ended March 31, 2018.

 

30-Apr-2019

Thomas Cook opens new foreign exchange branch in Ghaziabad

Thomas Cook (India) has increased its presence in NCR with a new foreign exchange branch at Raj Nagar RDC in Ghaziabad. The company’s internal data has identified Ghaziabad as a high opportune source market, and the new foreign exchange branch, is hence aimed at maximising this growth potential.

With this expansion, the company’s foreign exchange distribution/reach in NCR now extends to 28 consumer access centres, which include 12 owned branches, 10 Gold Circle Partner (franchise) outlets and 6 airport counters. The company’s new outlet in Ghaziabad will empower consumers with end-to-end forex solutions along with a range of travel and travel related services.

Thomas Cook (India) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.

 

30-Apr-2019

Subex wins multi-year deal from Econet Wireless Zimbabwe

Subex has won multi-year deal from Econet Wireless Zimbabwe (EWZ), a leading telecom operator in Zimbabwe for the deployment of its Analytics Centre of Trust (ACT) offering. Through the deployment, Econet will be able to transform into an independent data driven organization, thereby improving operational efficiency.

Econet Wireless Zimbabwe was looking to further improve their operational efficiency by effectively leveraging their data to make business decisions. To this end, Subex was selected based on its proven expertise in implementing an analytics solution which is flexible across business cases around Customer, Technology, Product, Sales & Distribution, Risk and Revenue.

Subex is a leading telecom analytics solutions provider, enabling a digital future for global telcos.

 

30-Apr-2019

Steelco Gujarat to execute loan facility agreement with Spica Business

Steelco Gujarat’s board has received approval for execution of loan facility agreement with its Ultimate Holding company, Spica Business Corp., Panama for $8,500,000 (US Dollar Eight Million Five Hundred Thousand Only) (around equivalent to OTS Proposal of the Company of Rs 58.25 crore, subject to approval of lenders). The Board of Directors of the company in its meeting held on April 30, 2019, approved the same

Steelco Gujarat manufactures cold rolled steel and galvanized steel. The products include cold rolled steel coils/sheets, hot dip galvanized steel coils and plain corrugated sheets.  

 

30-Apr-2019

Larsen & Toubro Infotech emerges as Top Service Provider in France

Larsen & Toubro Infotech (LTI) has been ranked number one in the overall customer satisfaction, in the French IT outsourcing study conducted by Whitelane Research. This is the second consecutive year for LTI to be at the top of this research in France.

The French study is part of Whitelane’s annual extensive IT outsourcing survey with more than 145 participants from the top IT spending organisations in France. Whitelane evaluated over 500 unique IT outsourcing relationships with 26 different IT service providers.

LTI is a global technology consulting and digital solutions company helping more than 300 clients succeed in a converging world.

 

30-Apr-2019

Mercator sells Nerissa for $27.5 million

Mercator has sold its very large crude carrier ‘ Nerissa (VLCC), built 2006, for a total consideration of  $27.5 million (Net) and the proceeds of which is being used to reduce the debt and other liabilities. The buyer does not belong to Promoter/ Promoter Group Companies.

Mercator is one of India’s largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.

 

30-Apr-2019

GPCB revokes closure order of Meghmani Organics’ Agrochemical Plant in Gujarat

Gujarat Pollution Control Board (GPCB) has revoked closure direction given to fire affected Agrochemical plant of Meghmani Organics situated at Plot No. CH-1+2A, GIDC Dahej, Taluka-Vagra, District- Bharuch, Gujarat.

The company has started its manufacturing activity in Plant A and Plant C. The reinstatement work at fire affected Plant B is in progress and will update at the regular interval.

Meghmani Organics is a leading manufacturer of pigment and pesticide products in the country and is the recipient of several prestigious awards in recognition of its outstanding business performance.

 

30-Apr-2019

Bharti Airtel launches new music streaming app ‘Wynk Tube’

Bharti Airtel has launched its new music streaming app – Wynk Tube. With this Airtel has further expanded its fast growing content portfolio, especially keeping in mind the needs of the next 200 million smartphone users.

Wynk Tube, which is an extension of Wynk Music, allows users to stream audio and video of popular tracks within the same interface. Users can instantly switch between audio and video mode of their favourite tracks with a single touch. The app is currently available for Android smartphones.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

30-Apr-2019

NTPC to raise funds worth Rs 3,056.50 crore through bonds

NTPC has decided to raise Rs 3,056.50 crore on May 3, 2019 through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 7.93% p.a. with a door to door maturity of 3 years. The proceeds will be utilized inter alia, used to part meet the capex requirement, refinancing of existing loans, working capital and other general corporate requirements. The bonds are proposed to be listed on both NSE & BSE. Security for these bonds will be duly created as per the requirements of and within the period of time prescribed under, the Companies Act and rules specified therein.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.

 

30-Apr-2019

Omkar Speciality Chemicals receives eighth process patent

Omkar Speciality Chemicals (OSCL) has received its eighth process patent to produce ‘2, 3- DIHYDROXY-1, 2- BENZISOTHIAZOL-3-ONE-1, 1-DIOXIDE’ (‘SODIUM SACCHARIN’) product from the Intellectual Property India, The Government of India Patent office.

The process is safe, economic and ecofriendly. With this, the number of patents granted to OSCL till date stands at 8, and addition five more patents applications filed for other products are pending for grant.

Omkar Speciality Chemicals is one of the leading players in the manufacturing of Speciality Chemicals and Veterinary APIs. The company manufactures a range of Organic, Inorganic and Organo Inorganic Intermediates.

 

30-Apr-2019

Godrej Properties reports 4-fold jump in Q4 consolidated net profit

Godrej Properties has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported around 6-fold jump in its net profit at Rs 188.47 crore for the quarter ended March 31, 2019 as compared to Rs 33.80 crore for the same quarter in the previous year. Total income of the company jump around 4-fold at Rs 1,128.26 crore for quarter under review as compared to Rs 321.59 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported around 4-fold jump in its net profit at Rs 156.66 crore for the quarter ended March 31, 2019 as compared to Rs 42.28 crore for the corresponding quarter in the FY18. Total consolidated income of the company jump by 2-fold at Rs 1,203.21 crore for quarter under review as compared to Rs 553.09 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a rise of 99.31% in its net profit at Rs 209.35 crore as compared to Rs 105.04 crore for the previous year. Total income of company increased 80.38% at Rs 1,894.00 crore for year under review as compared to Rs 1,049.99 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted a jump around 3-fold in its net profit at Rs 253.15 crore as compared to Rs 86.91 crore for the previous year. Total income of company increased by 53.26% at Rs 3,221.98 crore for year under review as compared to Rs 2,102.36 crore for year ended March 31, 2018.

 

30-Apr-2019

Bank of Maharashtra turns black in Q4

Bank of Maharashtra has reported results for the fourth quarter and year ended March 31, 2019.

The bank has reported a net profit at Rs 72.38 crore for the quarter ended March 31, 2019 against net loss of Rs 113.51 crore for the same quarter in the previous year. Total income of the bank increased marginally by 2.14% at Rs 3,160.79 crore for quarter under review as compared to Rs 3094.46 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the bank has posted a net loss of Rs 4,783.88 crore as compared to net loss of Rs 1,145.65 crore for the previous year. Total income of bank decreased marginally by 1.63% at Rs 12,397.06 crore for year under review as compared to Rs 12,602.47 crore for year ended March 31, 2018.

 

30-Apr-2019

L&T Finance Holdings reports 2-fold jump in Q4 consolidated net profit

L&T Finance Holdings has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a fall of 29.35% in its net profit at Rs 227.26 crore for the quarter ended March 31, 2019 as compared to Rs 321.65 crore for the same quarter in the previous year. Total income of the company decreased by 22.79% at Rs 310.55 crore for quarter under review as compared to Rs 402.22 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported 2-fold jump in its net profit at Rs 552.12  crore for the quarter ended March 31, 2019 as compared to Rs 270.00 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 22.49% at Rs 3,383.92 crore for quarter under review as compared to Rs 2,762.71 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a marginal rise of 0.38% in its net profit at Rs 267.06 crore as compared to Rs 266.05 crore for the previous year. Total income of company increased 10.18% at Rs 526.48 crore for year under review as compared to Rs 477.82 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 74.72% in its net profit at Rs 2,232.03 crore as compared to Rs 1,277.52 crore for the previous year. Total income of company increased by 29.57% at Rs 13,301.52 crore for year under review as compared to Rs 10,266.26 crore for year ended March 31, 2018.

 

30-Apr-2019

Kotak Mahindra Bank reports 14% rise in Q4 consolidated net profit

Kotak Mahindra Bank has reported results for the fourth quarter and year ended March 31, 2019.

The bank has reported a rise of 25.24% in its net profit at Rs 1,407.80 crore for the quarter ended March 31, 2019 as compared to Rs 1,124.05 crore for the same quarter in the previous year. Total income of the bank increased by 18.50% at Rs 7,672.56 crore for quarter under review as compared to Rs 6,475.00 crore for the quarter ended March 31, 2018.

On consolidated basis, the bank has reported rise of 13.92% in its net profit at Rs 2,038.27 crore for the quarter ended March 31, 2019 as compared to Rs 1,789.24 crore for the corresponding quarter in the FY18. Total consolidated income of the bank rose 27.12% at Rs 13,823.33 crore for quarter under review as compared to Rs 10,874.12 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the bank has posted a rise of 19.12% in its net profit at Rs 4,865.33 crore as compared to Rs 4,084.30 crore for the previous year. Total income of bank increased 19.94% at Rs 28,547.24 crore for year under review as compared to Rs 23,800.70 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the bank has posted rise of 16.18% in its net profit at Rs 7,204.13 crore as compared to Rs 6,200.97 crore for the previous year. Total income of bank increased by 18.54% at Rs 45,903.36 crore for year under review as compared to Rs 38,723.67 crore for year ended March 31, 2018.

 

30-Apr-2019

Bajaj Finserv’s BijliOnEMI Campaign enters into second phase

Bajaj Finserv’s BijliOnEMI Campaign has entered in its second phase wherein through a Vox Pop video the Bajaj Finserv team spoke to customers to understand their problems during summer and the reaction on the ‘Electricity bill on EMI’ proposition along with ‘AC on EMI’ by Bajaj Finserv.

Simultaneously, a contest is being run on social media to engage with the consumers on the same lines. Through the contest, users are asked to share their Bijli stories (whether they relate to power cuts, long electricity bill queues, reaction at home after long electricity bills, etc) through videos, images and text on their social profile tagging BijlionEMI and BajajFinserv. The top 10 Reponses with maximum engagement (likes, shares, comments) on their posts stand a chance to win Amazon voucher worth Rs 5,000 and the top response wins a Smartphone worth Rs 35,000.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.

 

30-Apr-2019

Wipro’s arm to acquire Splash Corporation

Wipro Consumer Care and Lighting (WCCL), the consumer care business of software provider Wipro, has signed a definitive agreement to acquire Philippine-based personal care company Splash Corporation. This will be Wipro Consumer care’s 11th acquisition.

After the acquisition, Splash founder Dr Rolando B Hortaleza would remain as the consultant and the rest of the team would become part of Wipro Consumer Care. The acquisition would enable Wipro brands to grow in the Philippines market by leveraging Splash’s distribution strength across market segments.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

30-Apr-2019

Coal India supplies 488 MT fuel to power sector in FY19

Coal India has supplied 488 million tonne (MT) of fuel to the power sector in the 2018-19 fiscal, registering an increase of 7.4 percent over the previous year. The company had dispatched 454.2 MT of coal to the power sector in 2017-18.

The company has supplied 46.1 MT coal to the power sector in March 2019 as against 42.7 MT in the same month of the previous fiscal.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

 

30-Apr-2019

ZEE5 partners with Moat, Nielsen DAR

ZEE5, a video on demand website run by Zee Entertainment Enterprises, has partnered with Moat and Nielsen Digital Ad ratings (DAR) to offer measurable results to its advertisers.

Through this integration, ZEE5 will now offer third-party measurable and result-oriented campaigns to its advertisers.

Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.

 

30-Apr-2019

Tech Mahindra, UiPath launch AI driven automation solution for Enterprises

Tech Mahindra and UiPath have launched their first joint solution offering – an end-to-end cognitive operations automation solution, in the area of Service Desk Operations. This ready-to-use cognitive operations solutions will help to accelerate the automation journey of an enterprise.

The company and UiPath have developed a solution to enhance operational efficiency, business agility and provide better customer experience. Combined with self-service capabilities, the solution will support the entire life cycle of a service desk ticket from creation to closure i.e. categorization, triaging, resolution and knowledge management.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

 

30-Apr-2019

GRSE receives contract worth Rs 6,311 crore from Defence Ministry

Garden Reach Shipbuilders and Engineers (GRSE) has received contract worth Rs 6,311 crore from the Defence Ministry to build eight anti-submarine warfare shallow water crafts for Indian Navy. The company emerged as the successful bidder for design, construction and supply of the eight ships.

The present Project will further consolidate GRSE’s position as a unique shipyard with all round capability to design and build Anti-Submarine Warfare Shallow Water Crafts (ASWSWC) warships with state-of-the-art technology.

Garden Reach Shipbuilders & Engineers is a ship-building company in India under the administrative control of the MoD and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

 

30-Apr-2019

Maruti Suzuki introduces Ertiga with new diesel engine

Maruti Suzuki India has introduced powerful 1.5 litre DDIS 225 Diesel Engine with 6-speed manual transmission in the Next Gen Ertiga. The latest 1.5 litre DDIS 225 4-cylinder diesel engine is developed in-house to deliver enhanced performance.

The new DDIS 225 engine on Next Gen Ertiga uses ‘Dual Mass flywheel’ that helps to reduce engine fluctuations. The pendulum type engine mounting further adds to superior ride quality leading to refined NVH (noise, vibration, and harshness) performance.

The Next Gen Ertiga comes with 6-speed manual transmission mated to the new DDIS 225 diesel engine to bring superior gear shift feel and smooth driving experience.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

30-Apr-2019

Orient Refractories to acquire entire stake of Intermetal Engineers India

Orient Refractories has received an approval for the acquisition of the entire paid-up equity share capital of Intermetal Engineers India (IEIPL), a company comprising of 1,597 equity shares of Rs 100 each, to make it a wholly owned subsidiary of the company. Since Orient Refractories (ORL) is one of the biggest refractory industry in India and aiming to increase market share, therefore making IEIPL 100% subsidiary will help ORL to increase the revenue. Hence, it was considered prudent to acquire 100% shareholding of IEIPL.

The Board of Directors of the company in its meeting held on April 30, 2019, approved the same.

Orient Refractories offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele.

 

30-Apr-2019

Mukta Arts negotiates its library deal with Zee TV

Mukta Arts has entered into agreements with Zee Entertainment Enterprises for extension of its existing Satellite and Digital Rights of 37 films up to August 2027 for a total consideration of Rs 60 crore.

The entire consideration will be received by Mukta Arts by May/June 2020 in easy instalments. The revenue will however be recorded as per the guidelines provided by the Accounting Standards.

Mukta Arts is engaged in various areas of film making such as production, distribution, exhibition and imparting education.

 

30-Apr-2019

L&T Technology Services concludes 3rd season of TECHgium

L&T Technology Services (LTTS) has recognized winners of the third edition of its national futuristic technology-based innovation competition TECHgium. Kickstarting in January, the event received record-surpassing 19,000 applications from over 270 reputed colleges & universities across India clocking a 200% increase in participants from its inception year 2016.

The winning teams are facilitated with awards worth over Rs 10 lakh with additional benefits such as continuation of work on the PoCs of interest as a paid project, pre-placement offer and recognition by reputed industry professionals.

LTTS is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services.

 

30-Apr-2019

DCM Shriram commissions 332 TPD Chlor-alkali capacity at Bharuch

DCM Shriram has commissioned 332 TPD Chlor-alkali capacity at Bharuch (Gujarat) on April 22, 2019. The total Chlor-alkali capacity at Bharuch (Gujarat) after the said expansion now stands at 1347 TPD.

DCM Shriram is engaged in the business of fertilizer, sugar and caustic soda.

 

30-Apr-2019

Kalpataru Power’s arm acquires 85% stake in Linjemontage i Grastorp AB

Kalpataru Power Transmission’s (KPTL) wholly owned subsidiary (WOS) — Kalpataru Power Transmission Sweden AB has completed acquisition of 85% stake in Linjemontage i Grastorp AB along with its two WOS on April 29, 2019.

Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.

 

30-Apr-2019

Bajaj Consumer Care ropes in Bain to speed up growth of hair oil brands

Bajaj Consumer Care has roped in global management consultancy Bain & Company to speed up the growth of its hair oil brands. Bain will help it control costs and form strategies to push growth of its hair oil business and they will be using their well respected BBA or Bain Brand Accelerator model to guide the company towards faster growth.

Bajaj Consumer Care (Formally known as Bajaj Corp) is one of India’s leading producers of hair oils. The company is a part of the Shishir Bajaj Group companies (the Bajaj Group). The company markets its hair oil under the brand names Brahmi Amla, Amla Shikakai and Jasmine hair oil.

 

30-Apr-2019

Dishman Carbogen Amcis receives EIR from USFDA for Naroda facility

Dishman Carbogen Amcis has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for Naroda facility. Thus, the Company’s facilities in Bavla and Naroda in India, multiple facilities in Switzerland and the Netherlands continue to be approved by the USFDA.

Earlier, USFDA had successfully inspected the company’s Naroda facility in February, 2019.

Dishman Carbogen Amcis provides innovative solutions for the development and supply of drug substances and drug products to the pharmaceutical and biopharmaceutical industries.

 

30-Apr-2019

Zydus Cadila, SIFI tie up to launch innovative intraocular lenses in India

Zydus Cadila and SIFI have tied up to market innovative IOLs (Intraocular lenses) and surgical products developed in Italy and licensed in India by SIFI. SIFI’s innovative IOLs (Intraocular lenses) have been approved by the Indian Central Drugs Standards Control Organization (Directorate General of Health Services) and Ministry of Health & Family Welfare (Medical Device and Diagnostic Division). These surgical devices represent the most advanced solution for cataract refractive surgery and the correction of astigmatism (a condition where the cornea is irregularly shaped) and presbyopia (natural loss of near focusing ability that occurs with age).

‘Refractive cataract’ is nowadays at the frontier of cataract surgery as it combines clouded lens removal to the simultaneous correction of refractive errors such as myopia, hypermetropia, astigmatism and presbyopia, in order to free the patient from wearing glasses following the surgery.

The highly advanced IOLs for this purpose are the EDOF (Extended Depth of Focus) lenses that present an optical plate with a continuous series of focuses, able to ensure a continuum correction from far to near in case of presbyopia and in case of astigmatism to provide compensation of the corneal abnormal curvature.

Zydus Cadila and SIFI look forward to bringing such innovations to India and to the entire South Asia region in order to empower surgeons with an advanced technology and consequently better the quality of vision and life of patients.

 

30-Apr-2019

Symphony sees good opportunity in commercial air cooling segment

Symphony is looking at the industrial and commercial air-cooling segment as a major growth driver for the company in the country and even expecting it to be bigger than the household cooler category in terms of sales in the coming years. The company is sensing a good opportunity in the commercial cooler space. It wants to target the small and medium size companies, warehouses, hotels and restaurants and institutional buyers with its ‘Movicool’ range of industrial and commercial air-coolers.

Symphony manufactures products like domestic air coolers, industrial air coolers, and water heaters.

 

30-Apr-2019

Castrol India reports marginal rise of 2% in Q1 net profit

Castrol India has reported results for the first quarter ended March 31, 2019.

The company has reported a marginal rise of 1.76% in its net profit at Rs 185.00 crore for the quarter ended March 31, 2019 as compared to Rs 181.80 crore for the same quarter in the previous year. Total income of the company increased by 4.99% at Rs 997.30 crore for quarter under review as compared to Rs 949.90 crore for the quarter ended March 31, 2018.

Castrol India is an India-based company engaged in providing coke and refined petroleum products. The company is involved in manufacturing lubricating oils.

 

30-Apr-2019

Zydus Cadila gets USFDA’s nod for Bosentan Tablets, Trientine Hydrochloride Capsules

Zydus Cadila has received the final approval from the United States Food & Drug Administration (USFDA) to market Bosentan Tablets USP (US RLD-Tracleer Tablets), 62.5 mg and 125 mg and Trientine Hydrochloride Capsules USP (US RLD-Syprine Capsules), 250 mg.

Both the products will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad. Bosentan is used to treat high blood pressure in the lungs (pulmonary arterial hypertension). Trientine is used to treat this inherited condition in people who cannot take penicillamine.

The group now has 265 approvals and has so far filed over 350 ANDAs since the commencement of the filing process in FY 2003.

Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

 

30-Apr-2019

RAKBANK reaffirms its trust in Ramco Systems

RAKBANK, the leading SME Bank in the UAE, has upgraded to the latest version of Ramco Systems’ Ramco HCM, with Mobility and Chatbots to drive efficiency and engagement. Ramco’s association with RAKBANK dates back to 2004.

In the current upgrade, Ramco’s end-to-end HR suite, bundled with Mobility and Chatbots, covering the entire gamut of HR processes such as Core HR, Recruitment, Talent Management, Leave, Time & Attendance and Payroll will automate HR operations.

Ramco Systems is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HCM and Global Payroll, ERP and M&E MRO for Aviation.

 

30-Apr-2019

Tata Motors partners with Nirma University

Tata Motors has partnered with Nirma University to provide B.Tech degree to its employees working at the Sanand Plant in Gujarat. Aligned with the company’s strategic objective, the programme aims at enhancing employees’ technical skill at multiple levels in the organisation, thus bridging skill gaps that prevail in the automotive industry.

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.

 

30-Apr-2019

Dredging Corporation of India signs MoU with WAPCOS

Dredging Corporation of India (DCI) has signed a memorandum of understanding (MoU) with WAPCOS to jointly identify suitable future projects and carry out geotechnical investigation and engineering consultancy in fields like Water Resources, Power and Infrastructure Port and Harbour dredging.

The other areas include shallow water dredging, beach nourishment, lake rehabilitation, flood management, erosion control, river morphology and other related sectors.

Dredging Corporation of India is the premier dredging company in India and is the only PSU company offering dredging services. Established in 1976, the Company provides dredging and allied services to Ports, Indian Navy etc.

 

30-Apr-2019

JSW Energy bags purchase order from Telangana State Discoms

JSW Energy has secured a purchase order from Telangana State Discoms of 300 MW Round The Clock power to be supplied from the company’s Vijayanagar Power Plant in the state of Karnataka for the period from July 01, 2019 to March 31, 2020.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.

 

30-Apr-2019

Creative Eye’s TV Serial ‘Ishq Subhan Allah’ on Zee TV completes 300 episodes

Creative Eye’s most popular serial ‘Ishq Subhan Allah’ produced by Dheeraj Kumar, Zuby Kochhar, Sunil Gupta which is telecasts on Zee Entertainment Enterprises’ Indian pay television channel — ‘ZEE TV’, has completed 300 episodes and still running successfully and maintaining good position.

Creative Eye is an India-based media and entertainment company. The company is engaged in the production of audio-visual television content. The company produces television serials/programs.

 

30-Apr-2019

Arrow Greentech wins National Intellectual Property Award 2019

Arrow Greentech (AGTL) has won the National Intellectual Property Award 2019 in the category of ‘Top Indian Company (MSME) for Patents & Commercialization’ at an award ceremony held at New Delhi on April 26, 2019.

Arrow Greentech is pioneer in manufacturing Water Soluble Film by a unique method using detachable liners. The company’s RND department has many years’ experience in Coatings, Security Printing, and casting films since many years.

 

30-Apr-2019

GMM Pfaudler completes acquisition of IMSD of Sudarshan Chemical Industries

GMM Pfaudler has completed the acquisition of the IMSD of Sudarshan Chemical Industries, Pune on a going concern basis in terms of the definitive agreements executed between the Company and Sudarshan Chemical Industries.

GMM Pfaudler is the largest manufacturer of glass-lined equipment in India. They manufacture Wiped Film Evaporators, Agitated Nutche Filters, Hi efficiency Mixing systems, PTFE lined equipments.

 

30-Apr-2019

Shangar Decor completes Government contract for Lok Sabha Election 2019

Shangar Decor has completed Government Contract for Lok Sabha Election 2019 for Decoration and allied services. Approximate value of contact completed is Rs 2.50 crore. The company has entered into Service Contract for Decoration Business with Dayaji Anavil Kedavni Mandal.

The company would earn 75% of total revenue generated from such contract. Both the aforementioned work orders have to have major effect on the performance of the Company.

Shangar Decor provides its clients decor related services that range from – Pre-wedding events, Theme wedding, Corporate events, Religious events, Property decor, Lights decor and Catering.

 

30-Apr-2019

PTC India joins hands with BSE, ICICI Bank to form new power exchange

PTC India (PTC) has executed a SSA and SHA on April 26, 2019 with BSE Investments (BSE) and ICICI Bank (ICICI) for investment in a Company (proposed new power exchange).

The SSA / SHA shall govern the inter-se rights and obligations of the shareholders of the Company. It is proposed that, subject to the relevant consents under the applicable law to be obtained by the Company, it will establish and operate a new power exchange in India.

PTC India is engaged in the business of trading activities that includes long term trading of power generated from large power projects as well as short term trading in India.

 

30-Apr-2019

Garden Reach Shipbuilders commissions Fast Patrol Vehicle ‘ICGS Priyadarshini’

Garden Reach Shipbuilders and Engineers has commissioned first of the Class of 05 Fast Patrol Vessels (FPVs), named ‘ICGS – Priyadarshini’ at Kakinada in the state of Andhra Pradesh. The ship ICGS Priyadarshini is the first in the series.

The remaining four ships are in advanced stages of construction. The FPV is a medium range surface vessel capable of operations in the maritime zones of India. These powerful, fuel-efficient platforms are designed to perform multipurpose operations like patrolling, anti-smuggling, anti-poaching and rescue operations. The entire design of these FPVs has been developed in-house by GRSE as per requirements specified by Indian Coast Guard.

Garden Reach Shipbuilders & Engineers is a ship-building company in India under the administrative control of the MoD and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

 

30-Apr-2019

Kamdhenu reports fire incident at its paint factory in Rajasthan

Kamdhenu has reported fire incident at its paint factory at Chopanki, Alwar in the state of Rajasthan due to which properties of the Company has been damaged substantially and manufacturing of the plant has been disrupted. The Company has proper insurance coverage for the assets in the premises of the said factory.

Kamdhenu is the largest manufacturer of international quality Steel Bars in India. The product range of the company includes TMT/HSD Bars, Structural Steel, Wirebond, Plywood, PVC Pipes, etc. The company also in the business segment of Power, Steels, Paints.

 

30-Apr-2019

Glenmark launches novel, globally-researched anti-diabetes drug Remogliflozin in India

Glenmark Pharmaceuticals has launched its novel, patent protected and globally’researched sodium glucose co’transporter’2 (SGLT2) inhibitor Remogliflozin etabonate (Remogliflozin) in India. The drug is indicated in the treatment of type’2 diabetes mellitus in adults.

SGLT2 inhibitors are novel anti’diabetic drugs that help achieve glycemic control by acting on the SGLT2 receptors in the proximal tubule of the kidney, thereby preventing renal reabsorption of glucose and promoting excretion of glucose in the urine. SGLT2 drugs provide glycemic control, induce weight loss and reduce cardiovascular risks.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

 

30-Apr-2019

Cipla gets approval from USFDA for Ambrisentan Tablets

Cipla and its subsidiary Cipla USA, Inc., have received final approval for the Abbreviated New Drug Application (ANDA) for Ambrisentan Tablets 5mg & 10mg from the United States Food and Drug Administration (USFDA).

The company’s Ambrisentan Tablets 5mg & 10mg is AB-rated generic therapeutic equivalent version of Gilead Sciences, Inc.’s Letairis. Ambrisentan tablet is an endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension (PAH) (WHO Group 1) to improve exercise ability and delay clinical worsening. The US Sales of Letairis Tablets USP stood at $943 million in 2018. The product is available for shipping immediately.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.

 

30-Apr-2019

Maruti Suzuki to set up hospital, school in Gujarat

Maruti Suzuki India will set up a multi-speciality hospital and a senior secondary school in Sitapur in Gujarat. Both projects will be fully-funded as CSR initiatives by the company with an investment of around Rs 125 crore over a five-year period.

Maruti Suzuki has partnered with Zydus Hospitals for the hospital which would be managed and operated by Ramanbhai Foundation, the CSR arm of Zydus Group. With an endeavor to provide quality education to children in its adopted villages, the company has decided to build ‘Maruti Suzuki Podar Learn School’ a senior secondary school in Sitapur. The school will be built in a phased manner, initially with primary wing followed by senior secondary school.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

30-Apr-2019

HCL Technologies partners with Cherwell Software

HCL Technologies (HCL) has partnered with Cherwell Software, LLC, a global leader in service management, for a product platform that layers the DRYiCE GBP (Gold Blue Print for Service Management) on the Cherwell Service Management platform. The companies’ Enterprise Service Management solution is designed to help their shared customers improve technology adoption, realize quicker time-to-value for new technology investments, and simplify system upgrades.

The company’s process simplifies IT service design and management for customers, while Cherwell’s low-code platform offers the easy customization of new IT services and the extension of digital services beyond IT. DlconRYiCE GBP will be available as an implemented image on top of the Cherwell Service Management platform and will become a new offering for HCL Technologies.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

Covered By:

Jamnadas Virji Advisory