The Election aftermath on the Markets. 31/05/2019

Weekly	Last Close	Last Week Close	Change %
Nifty	11,870.65	12,088.55	-1.80%
Bank Nifty	31,066.55	31,653.65	-1.85%
USD INR	69.39	69.58	0.27%
Crude Oil	3,850.00	4,067.00	-5.34%

Top Gainer of the week on Nifty
TCS	+7.25 %
Top Loser of the week on Nifty
JSW Steel	-5.66 %

Top Gaining Sector
BSE IT	+4.36 %
Top Losing Sector
Nifty Auto	-3.37%

Industries that saw good volumes past week:

Cement & building materials

Chemicals

Metals Minerals Oil

NBFC

Sugar

Forthcoming Events
Event	Date
Nikkei Manufacturing PMI	3 June 2019
Nikkei Services PMI	5 June 2019
RBI Monetary Policy	6 June 2019

Forthcoming Record Dates
Company	Date	Purpose
Prithvi Exchange (India) Ltd.	5-June-19	Interim Dividend
Banka Bioloo Ltd.	5-June-19	Interim Dividend.
Colgate-Palmolive (India) Ltd.	6-June-19	Interim Dividend
Tata Consultancy Services Ltd.	06-June-19	Final Dividend
Natco Pharma Ltd.	07-June-19	Third Interim Dividend
FDC Ltd.	7-June-19	Buy Back of Shares
UFO Moviez India Ltd.	7-June-19	Special Dividend
Focus Lighting & Fixtures Ltd.	7-June-19	Interim Dividend
GeeCee Ventures Ltd.	7-Jun-19	Buy Back of Shares

31-May-2019

Prabhat Dairy reports 12% fall in Q4 consolidated net profit

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

The company has reported a net loss of Rs 9.17 crore for the quarter ended March 31, 2019 against net profit of Rs 8.28 crore for the same quarter in the previous year. However, total income of the company rose around 7-fold at Rs 36.83 crore for quarter under review as compared to Rs 5.55 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported fall of 11.99% in its net profit at Rs 15.49 crore for the quarter ended March 31, 2019 as compared to Rs 17.60 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose many fold at Rs 161.47 crore for quarter under review as compared to Rs 5.56 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a fall of 64.81% in its net profit at Rs 6.65 crore as compared to Rs 18.90 crore for the previous year. However, total income of company rose around 3-fold at Rs 71.54 crore for year under review as compared to Rs 27.47 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 6.94% in its net profit at Rs 50.55 crore as compared to Rs 47.27 crore for the previous year. Total income of company rose around 9-fold at Rs 238.73 crore for year under review as compared to Rs 27.55 crore for year ended March 31, 2018.

 

31-May-2019

Dr. Reddy’s Lab gets EIR from USFDA for Miryalaguda plant

Dr. Reddy’s Laboratories has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) for API manufacturing plant at Miryalaguda (Nalgonda District) indicating closure of the audit and the inspection classification of this facility is determined as Voluntary Action Initiated (VAI). Earlier, USFDA had conducted audit at Miryalaguda plant on January 28, 2019.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

 

31-May-2019

Power Grid reports 52% rise in Q4 net profit

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

The company has reported a rise of 51.91% in its net profit at Rs 3,053.96 crore for the quarter under review as compared to Rs 2,010.31 crore for the same quarter in the previous year. Total income of the company increased by 18.66% at Rs 9,610.24 crore for Q4FY19 as compared Rs 8,098.93 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 20.55% in its net profit at Rs 9,938.55 crore as compared to Rs 8,244.65 crore for the previous year. Total income of the company increased by 15.77% at Rs 35,618.07 crore for year under review as compared to Rs 30,766.32 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 22.30% in its net profit at Rs 10,033.52 crore as compared to Rs 8,204.00 crore for the previous year. Total income of the company increased by 17.19% at Rs 35,661.32 crore for year under review as compared to Rs 30,430.54 crore for year ended March 31, 2018.

 

31-May-2019

Cox & Kings turns black in Q4

Cox & Kings (India) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported net profit at Rs 4.09 crore for the quarter under review as compared to net loss of Rs 2.43 crore for the same quarter in the previous year. Total income of the company increased by 3.72% at Rs 582.61 crore for Q4FY19 as compared Rs 561.74 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported net profit at Rs 1388.84 crore for the quarter under review as compared to net loss of Rs 53.36 crore for the same quarter in the previous year. Total income of the company increased by 4.02% at Rs 1,262.89 crore for Q4FY19 as compared Rs 1214.04 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 7.61% in its net profit at Rs 149.52 crore as compared to Rs 161.83 crore for the previous year. However, total income of the company increased by 75.63% at Rs 2895.86 crore for year under review as compared to Rs 1648.82 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported around 4-fold jump in its net profit at Rs 1689.65 crore as compared to Rs 429.67 crore for the previous year. Total income of the company increased by 14.93% at Rs 5785.98 crore for year under review as compared to Rs 5034.37 crore for year ended March 31, 2018.

 

31-May-2019

Alkem Laboratories gets nod for commencing manufacturing unit in South Sikkim

Alkem Laboratories has received approval from its board for commencement of manufacturing unit in South Sikkim from June 1, 2019. While, the company will close two units situated at Nani Daman in the state of Gujarat and another unit situated at East Sikkim respectively.

Alkem Laboratories is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical Ingredients (APIs) and nutraceuticals, which it markets in India and International markets.

 

31-May-2019

Vikas WSP receives guar gum powder orders for Rs 22.05 crore

Vikas WSP has received guar gum powder orders for Rs 22.05 crore that includes export to USA to Invagen Pharmaceuticals Inc, – a subsidiary of Indian Company CIPLA located in Mumbai.

Vikas WSP is one of India’s foremost guar gum powder (GGP) manufacturer, supplying to all sectors of the food industry with an extensive range of quality products.

 

31-May-2019

Jindal Poly Films to invest Rs 37 crore in wholly owned subsidiary

Jindal Poly Films has received approval to invest Rs 37 crore in the equity share Capital of Jindal Films India Ltd, a wholly owned Subsidiary of the Company. The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same.

Jindal Poly Films is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. JPFL has the world’s single largest site for production of BOPP and BOPET films at Nasik, India.

 

31-May-2019

Bharat Gears reports 87% fall in Q4 net profit

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

The company has reported a fall of 87.25% in its net profit at Rs 0.38 crore for the quarter under review as compared to Rs 2.98 crore for the same quarter in the previous year. Total income of the company marginally decreased by 1.06% at Rs 144.09 crore for Q4FY19 as compared Rs 145.64 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 98.89% in its net profit at Rs 12.53 crore as compared to Rs 6.30 crore for the previous year. Total income of the company increased by 16.40% at Rs 599.15 crore for year under review as compared to Rs 514.75 crore for year ended March 31, 2018.

 

31-May-2019

Advance Syntex starts manufacturing biodegradable glitter powder

Advance Syntex has started manufacturing biodegradable glitter powder. The company is the first one in the Indian market who started manufacturing the same.

Advance Syntex is an India-based manufacturer of other made up textile goods except apparel. The company is into manufacturing business of metallic yarn and precision cut glitter powder for various applications, such as textile printing, molding, and flocking over and above conventional decorative application.

 

31-May-2019

Raymond’s arm opens manufacturing facility at Sinnar

Raymond’s subsidiary — Ring Plus Aqua (RPAL) has opened its third manufacturing facility at Sinnar. In addition to the two existing plants located at the Sinnar Taluka Co-operative Industrial Estate (STICE), this plant will produce starter ring gears, transmission flex-plates and integral shaft water pump bearings. Additionally, the new plant will create close to 200 employment opportunities.

The new facility, built with the state of art technology with a focus on improving safety practices, energy efficiency and environmental friendly processes, will have a capacity of 2 million ring bearings per annum. With the effective concept of single piece product-line, the RPAL manufacturing capacity at Sinnar will be boosted to 8.2 million pieces of ring bearings per annum and will continue to cater to the global industrial and automotive markets.

Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.

 

31-May-2019

Hulst B.V. increases stake in NIIT Technologies to 33.10%

Hulst B.V. has acquired 27,490 equity shares with face value of Rs 10 each of NIIT Technologies, on May 30, 2019. After this acquisition, the entity’s stake in the company has been increased from 33.06% to 33.10%.

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.

 

31-May-2019

Coal India reports around 5-fold jump in Q4 consolidated net profit

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

The company has reported a fall of 52.16% in its net profit at Rs 4,315.66 crore for the quarter under review as compared to Rs 9,021.22 crore for the same quarter in the previous year. Total income of the company decreased by 49.45% at Rs 4,713.10 crore for Q4FY19 as compared Rs 9,324.13 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported around 5-fold jump in its net profit at Rs 6,024.13 crore for the quarter under review as compared to Rs 1,302.63 crore for the same quarter in the previous year. Total income of the company increased by 6.32% at Rs 30,365.84 crore for Q4FY19 as compared Rs 28,559.93 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 12.66% in its net profit at Rs 10,469.67 crore as compared to Rs 9,293.42 crore for the previous year. Total income of the company increased by 12.28% at Rs 11,482.96 crore for year under review as compared to Rs 10,226.86 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 17,462.18 crore as compared to Rs 7,038.44 crore for the previous year. Total income of the company increased by 15.06% at Rs 105,420.62 crore for year under review as compared to Rs 91,625.25 crore for year ended March 31, 2018.

 

31-May-2019

Simplex Infrastructures reports order inflow of Rs 3,194 crore in FY19

Simplex Infrastructures has reported cumulative order inflow of Rs 3194 crore in FY19. The company has ended FY19 with the order book backlog of Rs 6,020 crore.

Simplex Infrastructures is engaged in the business of contract constructing infrastructural facilities. The company’s segments include Construction business and others.

 

31-May-2019

Hindustan Copper eyeing to achieve capex target of Rs 1100-1200 crore in FY20

Hindustan Copper is aiming to achieve a capex target of Rs 1100-1200 crore in 2019-20, around double the figure of FY18. The company’s total capex in the last fiscal was Rs 592.43 crore.

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

 

31-May-2019

Bharti Airtel’s ARPU rises 6.5% in Q4FY19

Bharti Airtel’s average revenue per user (ARPU) rose by 6.5 percent to Rs 123 in the January-March quarter of 2019 (Q4FY19) which is still not at sustainable level for the sector. The company had ARPU of Rs 116 in the same period a year ago.

The company’s loss from India mobile services business more than doubled to Rs 1,377.8 crore in January-March 2019 compared with Rs 482.2 crore loss in the same period of the previous fiscal year.

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

 

31-May-2019

Peninsula Land to raise Rs 750 crore via NCDs

Peninsula Land has received approval to raise Rs 750 crore through Non-Convertible Debentures (NCDs) on Private Placement basis in one or more tranches during the Financial Year 2019-20. The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same.

Peninsula Land is a holding company engaged in construction business. The company is engaged in the business of real estate development. Its segments include Realty, Renting and Others.

 

31-May-2019

Uber partners with Indian Oil Corporation

Uber has partnered with Indian Oil Corporation (IOC) to offer special benefits, including a discount on fuel, to the ride-hailing company’s driver-partners in India.

The agreement with IOC will offer delivery partners discounts on petrol, diesel and CNG in IOC petrol pumps across India. This initiative is a part of Uber’s Uber care programme for driver partners.

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.

 

31-May-2019

Maruti Suzuki NEXA continues to strengthen its footprint in Telangana, Andhra Pradesh

Maruti Suzuki NEXA, with 28 outlets spread across 15 cities in Telangana and Andhra Pradesh, has continued to reinforce its presence in these two states. The two states are amongst the fastest growing automobile markets in India. S-Cross, NEXA’s flagship product is a strong model that has driven sales in this region. S-Cross registered a striking performance in the financial year making its way to the top 10 selling models in Andhra Pradesh and Telangana. A highly positive word of mouth feedback from actual user has driven sales as reflected by the fact that over 30% of S-Cross sales are driven through references.

While S-Cross leads the referral sales, NEXA’s premium hatchback Baleno too has clocked over 13,000 unit sales in the year. Baleno constitutes around 55% of NEXA sales in the two states. Premium Sedan Ciaz and the hatchback IGNIS together sold over 4,500 units. Ciaz, coincidentally is the highest selling premium sedan in the region.

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.

 

31-May-2019

Karnataka Bank opens 842nd Branch at Nandalike

Karnataka Bank has opened its 842nd Branch at Nandalike (Financial Inclusion Branch) on May 30, 2019. The Bank had opened 841st Branch at Senapur on May 30, 2019.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

 

31-May-2019

Karnataka Bank opens 841st Branch at Senapur

Karnataka Bank has opened its 841st Branch at Senapur (Financial Inclusion Branch) on May 30, 2019. Earlier, the Bank had opened 840th Branch at Nidadavolu, in state of Andhra Pradesh on May 29, 2019.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

 

31-May-2019

Dabur India aims to collect over 3 lakh kg plastic waste in Tamil Nadu

Dabur India is aiming to collect 3.18 lakh kg of plastic waste from all major cities in Tamil Nadu during this financial year, as part its mega plastic waste recycling initiative in Tamil Nadu.

The company would engage 500 local ragpickers for the purpose and processing drive. The collected plastic waste is being sent to different recycling units, waste-to-energy plants and cement kilns through registered bodies and NGOs.

Dabur India is one of the largest FMCG Company in India. Building on a legacy of quality and experience of over 125 years, Dabur operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care & Foods.

 

31-May-2019

Castrol India enters into strategic collaboration with 3M India

Castrol India has entered into a strategic collaboration with 3M India. Under this collaboration, a range of market-leading vehicle care products will be available for the automotive after-market.

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

 

31-May-2019

Bal Pharma reports 73.02% rise in Q4 consolidated net profit

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

The company has reported more than two fold rise in its net profit at Rs 3.57 crore for the quarter ended March 31, 2019 as compared to Rs 1.47 crore for the same quarter in the previous year. However, total income of the company decreased by 1.11% at Rs 57.03 crore for quarter under review as compared to Rs 57.67 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported marginal rise of 73.02% in its net profit at Rs 1.09 crore for the quarter ended March 31, 2019 as compared to Rs 0.63 crore for the corresponding quarter in the FY18. Total consolidated income of the company decreased 2.83% at Rs 54.21 crore for quarter under review as compared to Rs 55.79 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a rise of 10.29% in its net profit at Rs 6.54 crore as compared to Rs 5.93 crore for the previous year. Total income of company increased 6.77% at Rs 225.79 crore for year under review as compared to Rs 211.48 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted more than five-fold rise in its net profit at Rs 1.94 crore as compared to Rs 0.37 crore for the previous year. Total income of company increased by 6.01% at Rs 225.99 crore for year under review as compared to Rs 213.17 crore for year ended March 31, 2018.

 

31-May-2019

PVP Ventures calls off merge with Picturehouse Media

PVP Ventures has decided to call off Scheme of Merger with Picturehouse Media (PHMU) due to un-avoidable situation. The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same.

PVP Ventures is currently engaged in different business activities. The company is engaged in the business of planning and evaluating all steps, processes and techniques for setting up, managing, operating, and transferring various types of infrastructure projects.

 

31-May-2019

GMM Pfaudler reports 28% rise in Q4 consolidated net profit

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

The company has reported a rise of 27.88% in its net profit at Rs 10.78 crore for the quarter ended March 31, 2019 as compared to Rs 8.43 crore for the same quarter in the previous year. Total income of the company increased by 36.39% at Rs 122.70 crore for quarter under review as compared to Rs 89.96 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 43.16% in its net profit at Rs 40.63 crore as compared to Rs 28.38 crore for the previous year. Total income of company increased 31.18% at Rs 425.94 crore for year under review as compared to Rs 324.71 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 18.51% in its net profit at Rs 50.58 crore as compared to Rs 42.68 crore for the previous year. Total income of company increased by 21.58% at Rs 511.09 crore for year under review as compared to Rs 420.36 crore for year ended March 31, 2018.

 

31-May-2019

PC Jeweller reports net loss of Rs 377 crore in Q4

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

The company has reported a net loss of Rs 376.80 crore for the quarter ended March 31, 2019 against net profit of Rs 118.28 crore for the same quarter in the previous year. However, total income of the company increased marginally by 4.22% at Rs 2,203.97 crore for quarter under review as compared to Rs 2,114.64 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a net loss of Rs 2.81 crore against net profit of Rs 567.40 crore for the previous year. Total income of company decreased by 11.76% at Rs 8,461.17 crore for year under review as compared to Rs 9,588.54 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 99.89% in its net profit at Rs 0.61 crore as compared to Rs 535.64 crore for the previous year. Total income of company decreased by 9.71% at Rs 8,764.28 crore for year under review as compared to Rs 9,707.13 crore for year ended March 31, 2018.

 

31-May-2019

NCLT approves Tata Steel’s resolution plan to acquire Bhushan Energy

The National Company Law Tribunal (NCLT) has approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy for around Rs 800 crore on May 30, 2019. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy’s former promoter Neeraj Singal opposing Tata Steels’ bid.

Under the resolution plan, Tata Steel will offer an upfront payment of Rs 730 crore. It would also pay Rs 50 crore additionally to operational creditors of the company. Besides, Tata Steel would also infuse Rs 367 crore into the company as a part of equity infusion.

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.

 

31-May-2019

NACL Industries signs pact with UPL

NACL Industries has signed an agreement with UPL for manufacture of advance agrochemical intermediates for a period of 5 years with annual revenue of over Rs 75 crore. Production is expected to commence from Q3 of the 2019-20.

NACL Industries produces a comprehensive range of pesticide Technicals and Formulations.

 

31-May-2019

L&T Finance Holdings’ arm launches ‘Sabse Khaas Loan’ for two-wheeler customers

L&T Finance Holdings’ subsidiary–L&T Finance has unveiled ‘Sabse Khaas Loan’ scheme for two-wheeler customers.

The scheme not only provides hassle-free and low-cost finance for two-wheelers but also eliminates the need for hypothecation of vehicle to the financier over the tenure of the loan.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.

 

31-May-2019

Ramco Cements launches new premium ‘Ramco Supercrete’ cement

Ramco Cements has launched a new premium blended cement ‘ ‘Ramco Supercrete’, a new premium blended cement. Ramco Supercrete is packed in very attractive BOPP bags that ensures no spillage and therefore ensures a clean environment. Ramco Supercrete will address the requirements of the premium segment in the market.

The company has invested Rs 3500 crore in various expansions which are under way. The company’s new capacity in West Bengal is already on stream. The company’s Odisha plant is expected to be commissioned by Oct, 2019, the vizag plant expansion by Dec 2019, Jayanthipuram expansion by July 2020 and Kurnool by Mar 2021.

Ramco Cements is the flagship company of the Ramco Group, a well-known business group of South India. The main product of the company is Portland cement, manufactured in eight state-of-the art production facilities that includes Integrated Cement plants and Grinding units.

 

31-May-2019

Baid Leasing gets nod to raise up to Rs 250 crore via NCDs

Baid Leasing & Finance Company has received approval to raise funds not exceeding Rs 250 crore through issuance of Non- Convertible Debentures (NCDs). The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same.

Baid Leasing & Finance Company is engaged in a wide gamut of business activities viz. business of hire purchase, leasing, lending, securities investments and trading, negotiable instruments etc.

 

31-May-2019

CONCOR repays working capital loan of Rs 700.00 crore

Container Corporation of India (CONCOR) has repaid the entire short term working capital loan of Rs 700.00 crore along with interest.

Earlier, the Board of Directors in its meeting held on March 25, 2019 had accorded its approval for availing a working capital loan not exceeding Rs1,000 crore by the company from any bank(s)/ corporate(s) and institution(s), for joining the Freight Advance Scheme launched by Ministry of Railways. Accordingly, CONCOR took a working capital loan of Rs 700.00 crore in March, 2019.

CONCOR is a Public Sector Undertaking, under Ministry of Indian Railways which was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways.

 

31-May-2019

ONGC’s arm posts 4.7% rise in oil & gas production in FY19

Oil and Natural Gas Corporation’s (ONGC) overseas subsidiary — ONGC Videsh has registered increase in production of Oil & Gas by 4.7% with net production of 14.833 MMTOE in FY19, as compared to 14.164 MMTOE in FY18.

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.

 

31-May-2019

ONGC reports 32% fall in Q4 net profit

Oil & Natural Gas Corporation (ONGC) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 31.62% in its net profit at Rs 4,044.60 crore for the quarter under review as compared to Rs 5,915.12 crore for the same quarter in the previous year. However, total income of the company marginally increased by 4.71% at Rs 29,008.74 crore for Q4FY19 as compared Rs 27,703.54 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 33.95% in its net profit at Rs 26,715.79 crore as compared to Rs 19,945.26 crore for the previous year. Total income of the company increased by 26.15% at Rs 117,173.56 crore for year under review as compared to Rs 92,887.65 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 29.99% in its net profit at Rs 33,886.93 crore as compared to Rs 26,067.98 crore for the previous year. Total income of the company increased by 24.86% at Rs 461,609.33 crore for year under review as compared to Rs 369,714.56 crore for year ended March 31, 2018.

 

31-May-2019

3M India enters into agreement with Castrol India

3M India has entered into a strategic Collaboration Agreement with Castrol India. Under this Agreement, a range of 3M-Castrol branded vehicle care products will be introduced for the Automotive After-Market.

3M is fundamentally a science-based company. They produce thousands of imaginative products, and are a leader in scores of markets – from health care and highway safety to office products and abrasives and adhesives.

 

31-May-2019

SIS pays over Rs 36 lakh to settle case with SEBI

Security and Intelligence Services (India) (SIS) has settled with the Securities and Exchange Board of India (SEBI) a case of an alleged violation of public issue norms by paying over Rs 36 lakh towards settlement charges.

The regulator had initiated proceedings and sent notice to the company in April 2017 wherein it was alleged that SIS had issued and allotted equity shares to more than 49 persons on nine occasions from April 1988 till February 2012 (mostly to its employees) due to preferential allotment or stock options.

SIS is a leading provider of private security and facility management services in India.

 

31-May-2019

CIAN Agro Industries to merge step-down wholly owned subsidiaries with itself

CIAN Agro Industries & Infrastructure has received approval for scheme of merger of its direct / step-down wholly owned subsidiaries — Jairam Infraventure, Purti Agrotech and Jupiter Metal Products with the company. The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same.

CIAN Agro Industries & Infrastructure is a manufacturer of Refined Soyabean Oil ‘Amrutdhara’ and Refined Kardi (Safflower) Oil ‘Yash’, through a well-established network of over 50 dealers in Maharashtra and Madhya Pradesh.

 

31-May-2019

SAIL reports 43% fall in Q4 net profit

Steel Authority of India (SAIL) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 42.57% in its net profit at Rs 468.40 crore for the quarter under review as compared to Rs 815.57 crore for the same quarter in the previous year. Total income of the company increased by 8.62% at Rs 18,752.36 crore for Q4FY19 as compared Rs 17,264.86 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a net profit of Rs 2,178.82 crore as compared to net loss of Rs 481.71 crore for the previous year. Total income of the company increased by 13.55% at Rs 67,500.13 crore for year under review as compared to Rs 59,446.81 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a net profit of Rs 2,348.71 crore as compared to net loss of Rs 281.40 crore for the previous year. Total income of the company increased by 13.62% at Rs 67,468.10 crore for year under review as compared to Rs 59,381.35 crore for year ended March 31, 2018.

 

31-May-2019

NALCO reports 9% fall in Q4 net profit

National Aluminium Company (NALCO) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 9.13% in its net profit at Rs 233.59 crore for the quarter under review as compared to Rs 257.06 crore for the same quarter in the previous year. Total income of the company decreased by 1.94% at Rs 2,863.89 crore for Q4FY19 as compared Rs 2,920.47 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 29.05% in its net profit at Rs 1,732.40 crore as compared to Rs 1,342.41 crore for the previous year. Total income of the company increased by 19.23% at Rs 11,825.19 crore for year under review as compared to Rs 9,917.96 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 29.17% in its net profit at Rs 1,733.69 crore as compared to Rs 1,342.19 crore for the previous year. Total income of the company increased by 19.23% at Rs 11,825.19 crore for year under review as compared to Rs 9,917.96 crore for year ended March 31, 2018.

 

31-May-2019

L&T increases stake in Mindtree to 28.88%

Larsen & Toubro (L&T) has acquired 26,974 equity shares (with a face value of Rs 10 each) of Mindtree on May 30, 2019. After the latest transaction, L&T’s shareholding in Mindtree stands at 28.88%.

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

 

30-May-2019

Music Broadcast’s Radio City tops charts as nation’s numero uno radio station

Radio City, a part of Music Broadcast, has once again topped the charts as the nation’s numero uno radio station according to AZ Research’s Baseline Study 2019. Radio City garnered a massive listenership of 6.9 crore across 34 markets with the highest listenership in the North, West and South zones. Imbibing the brand philosophy of ‘Rag Rag Mein Daude City’ that invokes city passion for the listeners, Radio City continues its hegemony in listenership across the nation.

Radio City’s remarkable achievements also include attaining the highest listenership of 109 lakhs and 62 lakhs in Delhi and Bangalore, respectively.

Music Broadcast operates a network of FM radio channels in India. It broadcasts Hindi and international music in various genres, such as film, non-film, Sufi, ghazals, lounge, current, and retro, as well as various advertising and entertainment solutions.

 

30-May-2019

Hulst B.V. buys 1.85 lakh shares in NIIT Technologies

Hulst B.V. has acquired 1,85,000 equity shares with face value of Rs 10 each of NIIT Technologies on May 29, 2019. After this acquisition, the entity’s stake in the company has been increased from 32.76% to 33.06%.

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.

 

30-May-2019

Sterlite Technologies radically improves customer serviceability through digital transformation

Sterlite Technologies (STL) has invested in an integrated system to radically shift global customer experiences by building robust planning and delivery processes. With customers spanning across countries in Asia, Europe, the Middle East and Latin America, manufacturing facilities in three continents, and a diverse data network solutions set, STL has a fairly complex demand-supply network.

The company also recognizes that the speed of global serviceability is a priority when designing and orchestrating complex supply chains. To help ensure a speedy and smooth implementation, STL designed an organic transformation recipe to enable rapid implementation of planning processes and tools. As a result, it selected SAP Integrated Business Planning solution and GitaCloud as the implementation partner for the solution.

Sterlite Technologies is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software.

 

30-May-2019

Grandeur Products acquires 47.53% stakes of TSSPL

Grandeur Products has acquired 47.53% equity stakes consisting of 9,80,000 shares of Tierra Seed Science (TSSPL). The objective of acquisition of TSSPL will help in the expansion of Business and to further strengthen the position of the Company in the Seed Industry.

Grandeur Products is in the business of FMCG projects particularly into Coffee and related products. Its products include coffee, tea, cocoa, milk, milk products, sugar, sugar substitutes, and fruits.

 

30-May-2019

Apollo Hospitals Enterprise reports 29% rise in Q4 net profit

Apollo Hospitals Enterprise has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 28.57% in its net profit at Rs 76.68 crore for the quarter under review as compared to Rs 59.64 crore for the same quarter in the previous year. Total income of the company increased by 16.08% at Rs 2,169.26 crore for Q4FY19 as compared Rs 1,868.79 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 29.83% in its net profit at Rs 302.76 crore as compared to Rs 233.20 crore for the previous year. Total income of the company increased by 16.03% at Rs 8,348.90 crore for year under review as compared to Rs 7,195.60 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported over 3-fold jump in its net profit at Rs 200.17 crore as compared to Rs 59.55 crore for the previous year. Total income of the company increased by 16.59% at Rs 9,648.88 crore for year under review as compared to Rs 8,275.62 crore for year ended March 31, 2018.

 

30-May-2019

Cox & Kings’ Meininger Hotels signs contract for hotel in Cologne

Cox & Kings owned Meininger Hotels has signed an agreement to open a new hotel in Cologne. The hotel will open in the fall of 2022. The new hotel comprises a gross floor area of more than 7,900 sqm with more than 200 rooms.

Meininger currently operates 12 hotels in Germany and plans to open 4 new hotels in the German market by 2022. As of now, based on contract signing, over the next three years, the hotel group expects an international increase of more than 2,300 rooms and 8,000 beds. In the same period, the total number of beds in Germany will rise to more than 9,000.

Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.

 

30-May-2019

Glenmark to raise funds up to $200 million

Glenmark Pharmaceuticals has received an approval for raising of funds up to $200 million by issue of non-convertible debentures (in form of bonds or otherwise) or bonds, whether denominated in Indian Rupee and/or foreign currency(ies), though a public issue or a private placement in accordance with the provisions of the applicable law. Proceeds from these debt securities issuance will be used mainly to refinance existing debt. The Board of Directors of the company at its meeting held on May 29, 2019, approved the same.

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-May-2019

Alkem Laboratories reports around 3-fold jump in Q4 consolidated net profit

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

The company has reported 3-fold jump in its net profit at Rs 190.82 crore for the quarter under review as compared to Rs 59.99 crore for the same quarter in the previous year. Total income of the company increased by 25.99% at Rs 1,486.91 crore for Q4FY19 as compared Rs 1,180.17 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported around 3-fold jump in its net profit at Rs 170.50 crore for the quarter under review as compared to Rs 66.33 crore for the same quarter in the previous year. Total income of the company increased by 23.76% at Rs 1,881.86 crore for Q4FY19 as compared Rs 1,520.56 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 11.73% in its net profit at Rs 799.84 crore as compared to Rs 715.84 crore for the previous year. Total income of the company increased by 7.43% at Rs 5,781.67 crore for year under review as compared to Rs 5,381.92 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 21.18% in its net profit at Rs 773.64 crore as compared to Rs 638.42 crore for the previous year. Total income of the company increased by 14.25% at Rs 7,444.89 crore for year under review as compared to Rs 6,516.59 crore for year ended March 31, 2018.

 

30-May-2019

Berger Paints reports 5% rise in Q4 consolidated net profit

Berger Paints India has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a fall of 20.86% in its net profit at Rs 87.35 crore for the quarter ended March 31, 2019 as compared to Rs 110.37 crore for the same quarter in the previous year. However, total income of the company increased by 13.46% at Rs 1368.21 crore for quarter under review as compared to Rs 1205.91 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported marginal rise of 4.91% in its net profit at Rs 111.43 crore for the quarter ended March 31, 2019 as compared to Rs 106.21 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 14.38% at Rs 1,488.56 crore for quarter under review as compared to Rs 1,301.47 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a marginal rise of 1.66% in its net profit at Rs 439.03 crore as compared to Rs 431.84 crore for the previous year. Total income of company increased 13.98% at Rs 5,569.18 crore for year under review as compared to Rs 4,885.90 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 7.95% in its net profit at Rs 497.45 crore as compared to Rs 460.83 crore for the previous year. Total income of company increased by 14.90% at Rs 6,121.89 crore for year under review as compared to Rs 5,327.99 crore for year ended March 31, 2018.

 

30-May-2019

Lupin wins packaging award for its patient awareness initiative ‘Lupin Sahayak’

Lupin has won the India Packaging Award 2019 for its patient awareness initiative ‘Lupin Sahayak’ and its special packaging for Telista.

Telista is Lupin’s brand of Telmisartan and combinations that is used in the treatment of hypertension (high blood pressure), prevention of heart attack and stroke. Lupin Sahayak is a new initiative by Lupin’s Synox Team that focuses on diabetes and hypertension. It offers a 24×7 WhatsApp helpline that will enable patients to get more information on hypertension.

The India Packaging Award 2019 given by UBM India was received for the category ‘Innovation in Patient Awareness Award’.

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

 

30-May-2019

Gujarat Alkalies & Chemicals reports 23% fall in Q4 net profit

Gujarat Alkalies & Chemicals has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 23.17% in its net profit at Rs 169.83 crore for the quarter under review as compared to Rs 221.06 crore for the same quarter in the previous year. However, total income of the company increased by 10.28% at Rs 835.12 crore for Q4FY19 as compared Rs 757.29 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 28.90% in its net profit at Rs 689.65 crore as compared to Rs 535.02 crore for the previous year. Total income of the company increased by 23% at Rs 3,222.15 crore for year under review as compared to Rs 2,619.64 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 29.13% in its net profit at Rs 690.19 crore as compared to Rs 534.50 crore for the previous year. Total income of the company increased by 23% at Rs 3,222.15 crore for year under review as compared to Rs 2,619.64 crore for year ended March 31, 2018.

 

30-May-2019

Future Lifestyle Fashions incorporates wholly owned subsidiary

Future Lifestyle Fashions has incorporated wholly owned subsidiary — FLFL Athleisure (FAL) on May 29, 2019. FAL would inter-alia carry on retail business including sportswear, athleisure wear, apparels, consumer products and general merchandise and accessories and providing related services, which is in line with the business of the Company.

Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.

 

30-May-2019

Trident Texofab gets nod to increase borrowing limit

Trident Texofab has received an approval to increase the borrowing limit under 180(1) (A) of the Companies Act, 2013 from Rs 35 crore to Rs 100 crore subject to approval of the members at ensuing AGM. The Board of Directors of the company in their meeting held on May 30, 2019, approved the same.

Trident Texofab is a multi-product fabric trading company and its range includes home furnishing, bedsheets, scarfs, pareos, suiting and shirting and technical textile fabrics, etc. Its product portfolio includes finished, unfinished fabrics and value added fabrics.

 

30-May-2019

Goa Carbon resumes operations at Goa Unit

Goa Carbon has resumed operations its Goa Plant from May 25, 2018. The company’s plant is located at St. Jose de Areal, Salcete in state of Goa.

Goa Carbon is into the business of manufacturing and marketing Calcined Petroleum Coke. Goa Carbon is firmly established as a leading Indian petcoke calciner. It is a regular supplier to aluminium smelters, graphite electrode and Titanium Dioxide manufacturers, as well as other users in the metallurgical and chemical industries.

 

30-May-2019

West Coast Paper Mills’ Cable division to setup optical fibre draw tower in Telengana

West Coast Paper Mills’ (WCPM) Cable division — West Coast Optilinks will set High Speed Optical Fibre Draw Tower with 3M capacity in Rangareddy District in the state of Telengana as a new line of business. The Board of Directors of the Company at its meeting held on May 29, 2019 has approved the same.

West Coast Paper Mills is engaged in manufacturing paper, paperboard and coated duplex board.

 

30-May-2019

West Coast Paper Mills to acquire stake in International Paper APPM

West Coast Paper Mills (WCPM) has entered into a share-purchase agreement to acquire about 51-60% stake in NYSE-listed International Paper’s (IP) Indian unit, International Paper APPM.

The stake will be acquired from existing promoters -International Paper Investments (Luxembourg), SARL Luxembourg and IP International Holdings Inc, US. The deal is expected to be completed by the end of the year.

West Coast Paper Mills is engaged in manufacturing paper, paperboard and coated duplex board.

 

30-May-2019

Nelco enters into agreement with DTS Corporation to sell stake

Nelco has entered into share purchase & sale agreement with DTS Corporation, Japan for sale of its entire Investment to the extent of 253,665 shares representing 12.30% in Nelito Systems at a consideration of Rs.6.78 crore. The agreement was signed on 29th May, 2019.

Nelco was established in 1940 and is a part of the leading business house – the Tata group. The company is focused on system integration and product management for industrial controls, power, electronics, defence electronics, VSAT networks and automation.

 

30-May-2019

Federal Bank aims growth of 20% in FY20

Federal Bank is aiming a growth of 20% in the financial year 2019-20. The bank did an overall business of Rs 2.43 lakh crore in the last financial year.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

 

30-May-2019

Palred Technologies to make investment of Rs 2 crore in subsidiary company

Palred Technologies has received an approval for investment of Rs 2 crore in subsidiary company i.e Palred Technology Services. The Board of the company at its meeting held on May 30, 2019, approved the same.

Palred Technologies is a provider of software solutions for transportation and logistics industry. It offers solutions in the areas of freight forwarding industry, customs brokerage, contract logistics, shipper logistics and services. The firm also provides services like consulting, software development and system integration and implementation.

 

30-May-2019

Parle Software incorporates subsidiary company PSL Recycling

Parle Software has incorporated a subsidiary company PSL Recycling in India, which is registered with the Registrar of Companies at Ahmedabad in state of Gujarat on May 27, 2019. The objective of incorporation is to carry the business of purchasing, collecting, sorting, grading classifying, processing, recycling, selling, dealing, trading, distributing all nature, kinds, types and varieties of waste, scrap, rubbish, pastic, non usable, recyclable, reusable items or materials.

Parle Software is engaged in software development activities and providing information technology related services to its esteemed clients in India and through its strategic partner to countries like USA, UK and far East countries like Hong Kong.

 

30-May-2019

Natco Pharma settles generic Carfilzomib Injection patent litigation in US market

Natco Pharma has reached a Settlement Agreement with Onyx Therapeutics, Inc. on patent litigation related to generic versions of 10mg, 30mg and 60mg of Kyprolis. The company has partnered with Breckenridge Pharmaceutical, Inc., who will market the product in the United States.

By virtue of the settlement, Natco and Breckenridge have been granted a license permitting the launch of their generic carfilzomib product on a date that is held as confidential in 2027 or sooner depending on certain occurrences. The parties cannot make further comment as to the terms of the Settlement Agreement.

The company believes that its 10mg ANDA is sole first to file and could be eligible for 180-days marketing exclusivity for the 10mg strength under certain circumstances. Kyprolis reportedly had sales of $586 million for the year ending December 2018 in the United States. Kyprolis is a registered trademark of Onyx Therapeutics, Inc.

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.

 

30-May-2019

Mahindra Finance raises Rs 900 crore though NCDs

Mahindra & Mahindra Financial Services (Mahindra Finance) has raised funds worth Rs 900 crore. The duly authorized Committee of the company, at their meeting held on May 30, 2019, has approved the allotment of 9,000 Secured Redeemable Principal Protected Non-Convertible Market Linked Debentures (NCDs) of the face value of Rs 10,00,000 each, at par, aggregating to Rs 900 crore.

Mahindra Finance one of India’s leading non-banking finance companies.

 

30-May-2019

Jagran Prakashan reports 13% rise in Q4 consolidated net profit

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

The company has reported a rise of 9.95% in its net profit at Rs 53.94 crore for the quarter under review as compared to Rs 49.06 crore for the same quarter in the previous year. Total income of the company increased by 9.28% at Rs 494.01 crore for Q4FY19 as compared Rs 452.07 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 12.51% in its net profit at Rs 70.62 crore for the quarter under review as compared to Rs 62.77 crore for the same quarter in the previous year. Total income of the company increased by 8.29% at Rs 605.74 crore for Q4FY19 as compared Rs 559.37 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 17.33% in its net profit at Rs 219.91 crore as compared to Rs 266.01 crore for the previous year. However, total income of the company marginally increased by 2.09% at Rs 1,965.01 crore for year under review as compared to Rs 1,924.74 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 11.82% in its net profit at Rs 274.23 crore as compared to Rs 310.98 crore for the previous year. However, total income of the company marginally increased by 2.24% at Rs 2,403.43 crore for year under review as compared to Rs 2,350.68 crore for year ended March 31, 2018.

 

30-May-2019

TTML to raise up to Rs 35,000 crore via equity, debt

Tata Teleservices (Maharashtra) (TTML) will raise up to Rs 35,000 crore through preferential shares and non-convertible debentures.

Out of the total, the company has received board approval to raise Rs 15,000 crore from its promoters which include Tata Sons and its subsidiaries. The board of TTML has approved raising of the rest of Rs 20,000 crore through non-convertible debentures in one or more tranches.

TTML is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.

 

30-May-2019

RITES reports 70% rise in Q4 net profit

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

The company has reported a rise of 70.18% in its net profit at Rs 131.82 crore for the quarter under review as compared to Rs 77.46 crore for the same quarter in the previous year. Total income of the company increased by 33.34% at Rs 761.84 crore for Q4FY19 as compared Rs 571.35 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 34.05% in its net profit at Rs 444.65 crore as compared to Rs 331.71 crore for the previous year. Total income of the company increased by 36.42% at Rs 2,164.17 crore for year under review as compared to Rs 1,586.35 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 37.35% in its net profit at Rs 489.77 crore as compared to Rs 356.59 crore for the previous year. Total income of the company increased by 35.65% at Rs 2,239.63 crore for year under review as compared to Rs 1,650.98 crore for year ended March 31, 2018.

 

30-May-2019

TCS, Wyoming DWS launches Unemployment Insurance Tax system

Tata Consultancy Services (TCS) and the Wyoming Department of Workforce Services (DWS) have launched a new, secure cloud-based Unemployment Insurance (UI) Tax system, completing a system-wide upgrade for the WYUI (Wyoming Unemployment Insurance) solution.

The WYUI tax and benefits solution is a fully modernized and scalable Unemployment Insurance platform that improves the way employers interact with the state. The modernization entailed designing a more user-friendly interface and expanding the self-service capabilities including, online employer registration, account maintenance, payments, wage reporting, and appeals.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

30-May-2019

M&M’s EV sales grow over 2.5 times to 10,276 units in FY19

Mahindra & Mahindra’s (M&M) electric vehicle (EV) sales grew over two-and-a-half times to 10,276 units in 2018-19, riding on the second phase of orders for electric cars from state-owned EESL. The company had sold 4,026 units in 2017-18.

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.

 

30-May-2019

Byke Hospitality to acquire 3 new properties on long term lease

Byke Hospitality has received approval for acquisition 3 new properties on long term lease. The company will acquire hotel ‘The Byke Spice Heritage’ (25 Rooms) at Cochin, hotel ‘The Byke Mausam’ (33 Hooms) at Bhavnagar and Service Apartments ‘The Byke Studio Apartments’ (84 Apartments) at Thane in Mumbai.

The Board of Directors of the Company at its meeting held on May 29, 2019 has approved the same.

The Byke Hospitality is a fully bonded hospitality specialist dedicated to serve customers in the best possible way.

 

30-May-2019

Arihant Superstructures delivers 723 units of homes in FY19

Arihant Superstructures has delivered 723 units of homes equivalent to 635,389 sq. ft. in FY19. The company has reported 706 units of total sales equivalent to 632,527 sq. ft. for year end march 2019.

Arihant Superstructures is a real estate company with dominant presence in the affordable housing segment in the Mumbai MMR and the Jodhpur region.

 

30-May-2019

United Spirits reports 40% fall in Q4 net profit

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

The company has reported a fall of 40.19% in its net profit at Rs 126.20 crore for the quarter under review as compared to Rs 211.00 crore for the same quarter in the previous year. However, total income of the company increased by 2.94% at Rs 7,227.50 crore for Q4FY19 as compared Rs 7,021.40 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 17.25% in its net profit at Rs 658.60 crore as compared to Rs 561.70 crore for the previous year. Total income of the company increased by 8.88% at Rs 28,607.50 crore for year under review as compared to Rs 26,275.10 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 4.86% in its net profit at Rs 683.60 crore as compared to Rs 651.90 crore for the previous year. Total income of the company increased by 8.09% at Rs 28,941.70 crore for year under review as compared to Rs 26,774.80 crore for year ended March 31, 2018.

 

30-May-2019

International Paper APPM’s promoters enter into agreement with West Coast Paper Mills

International Paper APPM’s Promoters namely International Paper Investments (Luxembourg) S.a.r.l. and IP International Holdings Inc. (Sellers) have executed a Share Purchase Agreement (SPA) on May 29, 2019 with West Coast Paper Mills.

Luxembourg and IP International Holdings Inc. hold 21,856,033 equity shares of Rs 10 each and 7,971,496 equity shares of Rs 10 each respectively, comprising 75% of the issued and paid up equity capital of the Company on a fully diluted basis.

As per SPA, West Coast Paper Mills agreed to acquire such number of equity shares of the Company from the Sellers aggregating to a minimum of 51% and up to a maximum of 60% of the issued and paid up equity share capital of the Company as per the terms and conditions stated in the SPA.

International Paper APPM, formerly The Andhra Pradesh Paper Mills, is an integrated paper and pulp manufacturing company. The company is engaged in the business of manufacture and sale of pulp, paper and paper board.

 

30-May-2019

Glenmark Pharma reports 7% rise in Q4 consolidated net profit

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

The company has reported a rise of 26.99% in its net profit at Rs 281.29 crore for the quarter under review as compared to Rs 221.51 crore for the same quarter in the previous year. Total income of the company increased by 17.82% at Rs 1,755.67 crore for Q4FY19 as compared Rs 1,490.12 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 6.61% in its net profit at Rs 161.66 crore for the quarter under review as compared to Rs 151.63 crore for the same quarter in the previous year. Total income of the company increased by 10.78% at Rs 2,602.53 crore for Q4FY19 as compared Rs 2,349.37 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 59.92% in its net profit at Rs 1,622.11 crore as compared to Rs 1,014.35 crore for the previous year. Total income of the company increased by 18.45% at Rs 6,780.48 crore for year under review as compared to Rs 5,724.20 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 15.07% in its net profit at Rs 925.00 crore as compared to Rs 803.87 crore for the previous year. Total income of the company increased by 9.56% at Rs 10,073.61 crore for year under review as compared to Rs 9,194.47 crore for year ended March 31, 2018.

 

30-May-2019

Cholamandalam Investment and Finance enters into agreements to raise $222 million debt funds

Cholamandalam Investment and Finance Company has entered into agreements to raise $222 million debt funds in the form of US dollar bonds from International Finance Corporation (IFC) ($92 million), First Abu Dhabi Bank ($50 million), MUFG Bank ($50 million), National Bank of Ras AI-Khaimah PJSC ($20 million), and CTBC Bank ($10 million). The debt raising is being anchored by IFC.

Cholamandalam Investment and Finance Company is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.

 

30-May-2019

Bharti Airtel completes amalgamation of Bharti Digital Networks with itself

Bharti Airtel has completed amalgamation of Bharti Digital Networks (formerly known as Tikona Digital Networks) with Bharti Airtel upon the Order of the National Company Law Tribunal (NCLT), New Delhi.

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

 

30-May-2019

Adani Power turns black in Q4

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

The company has reported a net loss of Rs 62.82 crore for the quarter under review as compared to net loss of Rs 556.15 crore for the same quarter in the previous year. However, total income of the company jumped by 2-fold at Rs 263.56 crore for Q4FY19 as compared Rs 123.14 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a net profit of Rs 634.64 crore for the quarter under review against net loss of Rs 653.25 crore for the same quarter in the previous year. Total income of the company increased by 94.12% at Rs 8,077.89 crore for Q4FY19 as compared Rs 4,161.19 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a net loss of Rs 225.23 crore as compared to net loss of Rs 23.77 crore for the previous year. Total income of the company decreased by 59.58% at Rs 3,469.87 crore for year under review as compared to Rs 8,584.05 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a net loss of Rs 984.40 crore as compared to net loss of Rs 2,102.95 crore for the previous year. However, total income of the company increased by 24.98% at Rs 26,361.63 crore for year under review as compared to Rs 21,093.43 crore for year ended March 31, 2018.

 

30-May-2019

Tata Power’s arm to develop 100 MW Solar Project in Gujarat

Tata Power Company’s wholly owned subsidiary–Tata Power Renewable Energy (TPREL) has received a Letter of Award (LoA) from Gujarat Urja Vikas Nigam (GUVNL) on May 28, 2019 to develop a 100 MW solar project in Raghanesda Solar Park of Gujarat.

The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The company has won this capacity in a bid announced by GUVNL in March 2019. The project has to be commissioned within 15 months from the date of execution of the PPA.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

 

30-May-2019

Tata Steel wins ‘Dun & Bradstreet Corporate Award 2019’

Tata Steel has been bestowed the prestigious Dun & Bradstreet Corporate Award 2019 for the fifth consecutive year in the category of ‘Corporate Social Responsibility (CSR)’.

The Dun & Bradstreet Corporate Awards has been commemorating outstanding performers among Indian Corporates since 2006. It has till date honoured the Top 500 Companies in India, thus recognising their role as ‘Champions of Change’ in the transformation of the country.

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.

 

30-May-2019

Karnataka Bank opens 840th branch in Andhra Pradesh

Karnataka Bank has opened 840th Branch at Nidadavolu, in state of Andhra Pradesh on May 29, 2019. Earlier, the bank had opened 839th at Nadugodu – Kateel in Karnataka.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

 

30-May-2019

ITC signs Boman Irani as new brand ambassador for its health & hygiene brand Savlon

ITC has signed Bollywood actor Boman Irani as the new brand ambassador of its health and hygiene brand Savlon, replacing badminton player Saina Nehwal, who was appointed as the face of the brand in 2016.

The association highlights the importance of hand hygiene and the proposition of Savlon handwashes in a conversational series between children and elders typified by Boman.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

 

30-May-2019

IOL Chemicals and Pharmaceuticals prepays terms loan of Rs 27.57 crore

IOL Chemicals and Pharmaceuticals has made the pre-payment of term loan of Rs 27.57 crore due to banks on May 29, 2019 in addition to regular repayment schedule. Thus, the company made the pre-payment of term loan of aggregate amount of Rs 47.62 crore till May 29, 2019, to reduce the debt of the company.

IOL Chemicals and Pharmaceuticals is a leading organic chemicals manufacturer and supplier in India.

 

30-May-2019

NMDC reports 32.36 MT production of iron ore in FY19

NMDC has produced 32.36 million tonnes (MT) of iron ore during FY19, as against production of 35.58 MT during previous year. The company has sold 32.36 MT of iron ore during FY19 against sales of 36.08 MT during FY18.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

 

30-May-2019

Kilpest India’s arm gets rate contract from Sawai Man Singh Medical College

Kilpest India’s subsidiary company — 3B BlackBio Biotech India, Bhopal has received a rate contract approval from Sawai Man Singh Medical College Jaipur, for its TRUPCR H1N1 Detection kit, for supply worth Rs 1.33 crore during one year.

Kilpest India is one of India’s leading Agri based companies. Kilpest is an ISO certified company and has representation in India in the field of agriculture business comprising Crop Protection Products and Public Health Products, Bio products, Micro-Nutrients and Mix fertilizers.

 

30-May-2019

SJVN reports 3-fold jump in Q4 net profit

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

The company has reported over 3-fold jump in its net profit at Rs 458.92 crore for the quarter under review as compared to Rs 132.92 crore for the same quarter in the previous year. Total income of the company jumped by 2-fold at Rs 876.14 crore for Q4FY19 as compared Rs 436.42 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 11.38% in its net profit at Rs 1,364.29 crore as compared to Rs 1,224.88 crore for the previous year. Total income of the company increased by 12.44% at Rs 2,908.99 crore for year under review as compared to Rs 2,587.07 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 11.59% in its net profit at Rs 1,366.56 crore as compared to Rs 1,224.61 crore for the previous year. Total income of the company increased by 12.54% at Rs 2,907.94 crore for year under review as compared to Rs 2,583.95 crore for year ended March 31, 2018.

 

30-May-2019

SBI to mop up Rs 5,000 crore via bonds during FY20

State Bank of India (SBI) will raise up to Rs 5,000 crore by issuing Basel III-compliant bonds. The executive committee of central board at its meeting held on May 29, 2019 accorded approval to raise Basel III-compliant tier-II bonds up to Rs 5,000 crore in USD/INR to be issued to overseas and/or Indian investors during FY20, through a public offer/private placement.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

 

30-May-2019

L&T Finance Holdings to raise up to Rs 100 crore on private placement basis

L&T Finance Holdings will raise up to Rs 100 crore by issuing compulsorily redeemable securities on private placement basis.

The company’s committee of directors has approved an offer for issuing up to 1 crore cumulative compulsorily redeemable non-convertible preference shares (CRPS) to raise up to Rs 100 crore.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.

 

30-May-2019

Repco Home Finance sees 12% growth in overall loan book in FY19

Repco Home Finance has reported overall loan book rose 12% to Rs 11,036.8 crore at the end of March 2019. The company’s loans to the self-employed segment accounted for 54.1% of the outstanding loan book and loans against property product accounted for 18.4% of the same.

Repco Home Finance is into the business of providing long term loan financing for Residential purposes in India.

 

30-May-2019

Savita Oil Technologies gets nod to buyback 1.75% stake for Rs 40.28 crore

Savita Oil Technologies has received approval to buyback up to 2,51,000 fully paid-up equity shares of face value of Rs 10 each of the Company equity Shares representing up to 1.75% of the total number of equity shares of the Company at a price of Rs 1,605 per equity share (including premium of Rs 1,595 per Equity Share) payable in cash for an aggregate amount of up to Rs 40.28 crore which is 4.74% of the fully paid-up equity share capital. The Board of Directors of the Company at its meeting held on May 29, 2019 has approved the same.

Savita Oil Technologies has been pioneering petroleum speciality products. Savita exports its products across the globe and is known for its customization and innovative packaging like Flexitanks, ISO tanks and optimized drum-stacking systems.

 

30-May-2019

Maruti Suzuki gets three star safety ratings for Ignis from Global NCAP

Vehicle safety group Global NCAP has given three stars safety ratings out of five for adult occupant protection to Maruti Suzuki India’s premium hatchback Ignis sold in South Africa after conducting crash tests. The model, which is manufactured at the company’s Gurgaon plant and exported to South Africa, achieved three stars in frontal crash test at 64km/hr.

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-May-2019

IVP gets approval to sell property in Aurangabad

IVP has received approval for sale of Undertaking/property of the Company situated at Plot no. E-IZ, Chikalthana Industrial Area, Aurangabad in the state of Maharashtra, not exceeding Rs 30 crore. The Board of Directors of the Company at its meeting held on May 29, 2019 has approved the same.

IVP is engaged in manufacture ring and exporting of foundry chemicals, castings and allied product. The Company manufactures cast iron inoculants for automotive industries and it includes barium based ferro silicon inoculants, zirconium / manganese based inoculants and strontium based inoculants. The company also in the business segment of foundry chemicals.

 

30-May-2019

TTK Prestige enters into partnership with Satin Creditcare Network

TTK Prestige has entered into partnership with Satin Creditcare Network to provide affordable and healthy cooking solutions to low income groups in South India. TTK Prestige will be selling pressure cookers, induction cooktop and mixer grinders to over 70,000 existing company clients in Karnataka and Tamil Nadu.

This partnership with TTK Prestige will serve as a stepping stone for Satin Creditcare Network to strengthen their penetration in South India and provide maximum benefits to Satin Creditcare Network’s customers.

TTK Prestige is the leading manufacturer of Pressure cookers in India and offers the most comprehensive range of kitchenware in the world. One of the greatest recent achievements for Prestige is their entry into the non-south market.

 

30-May-2019

IOC signs MoU with Punjab’s Cooperation Department to open retail outlets

Indian Oil Corporation (IOC) has signed a Memorandum of Understanding (MoU) with Punjab’s Cooperation Department. Under the MoU, the company will open its retail outlets on empty spaces available with cooperative institutions. The decision will help farmers get petrol, diesel, seeds and fertilisers closer to their doorstep.

These outlets would also double up as Kisan Sewa Kendras for farmers where they would get fertilizers, seeds and agricultural implements.

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.

 

30-May-2019

PNB aims to raise Rs 10,000 crore in FY20

Punjab National Bank (PNB) is planning to raise Rs 10,000 crore in 2019-20 from sale of non-core assets, rights issue and expected write-backs from two large accounts undergoing insolvency proceedings. The Bank is expecting a write-back of Rs 4,000 crore from Essar Steel and Bhushan Power and Steel which are undergoing resolution under the Insolvency and Bankruptcy Code.

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.

 

30-May-2019

CESC executes agreement with Maharashtra State Electricity Distribution

CESC has executed a distribution franchisee agreement with Maharashtra State Electricity Distribution Company governing power distribution rights for Malegaon Municipal Corporation Area under Malegaon Circle in the state of Maharashtra.

Malegaon Power Supply, a 100% CESC subsidiary, will undertake the distribution franchisee operations.

CESC is engaged in power generation and distribution in state of West Bengal. The company is a fully integrated power utility with its operation spanning the entire value chain right from mining coal, generating power and distribution of power.

 

30-May-2019

HDFC disburses Rs 2,300 crore as subsidy under PMAY

Housing Development Finance Corporation (HDFC) has disbursed subsidy of more than Rs 2,300 crore under the government’s flagship housing scheme Pradhan Mantri Awas Yojana (PMAY), benefiting over one lakh first time home buyers.

The company has approved Rs 22,136 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG). The company has partnered with Ministry of Housing & Urban Affairs and the National Housing Bank (NHB) to work towards the government’s goal of ‘Affordable Housing for All’.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

 

30-May-2019

L&T hikes stake in Mindtree to 28.87%

Larsen and Toubro (L&T) has acquired about 98,000 shares of Mindtree from open market on May 29. After the acquisition, the company’s stake in Mindtree has increased to 28.87 per cent.

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

 

29-May-2019

Profile: Suich Industries

The company was originally incorporated as ‘Delhi Fone N Batteries Private Limited’ at Delhi, as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated July 17, 2008 issued by the Assistant Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, pursuant to a special resolution passed by the members of the Company in the Extra-ordinary General Meeting held on October 11, 2012, the name of the Company was changed to ‘Suich India Private Limited’ and a Fresh Certificate of Incorporation, consequent upon change of name, dated October 15, 2012 was issued by Registrar of Companies, National Capital Territory of Delhi and Haryana. Further, pursuant to a special resolution passed by the members of the Company at the Extra-ordinary General Meeting held on December 06, 2012, the name of the Company was further changed to ‘Suich Industries Private Limited’ and a Fresh Certificate of Incorporation, consequent upon change of name, dated December 12, 2012 was issued by Registrar of Companies, National Capital Territory of Delhi and Haryana. Subsequently, the Company was converted into a Public Limited Company pursuant to special resolution passed at in Extra-ordinary General Meeting of the Company held on February 06, 2018 and the name of the Company was changed to ‘Suich Industries Limited’. A fresh Certificate of Incorporation consequent upon conversion from Private Limited Company to Public Limited Company dated February 21, 2018 was issued by the Registrar of Companies, Delhi.

Business area of the company:

The company is engaged in assembling and marketing of feature & smart phones, batteries, charges, power bank, LED TV and smart TV under its own brand name, ‘Suich’. Further, the company is also engaged in trading activity, where it purchases finished products from other manufacturers and sells it to the distributors as per the demand.

Major Events & Milestones:

• 2008: Incorporation of the Company under the name and style of Delhi Fone N Batteries Private Limited.
• 2018: Conversion of Company from Private Limited Company to Public Limited Company

 

29-May-2019

Texmaco Infrastructure acquires Valley View Landholdings

Texmaco Infrastructure & Holdings has acquired a private limited company namely Valley View Landholdings (Valley View) on May 29, 2019 and subsequently, Valley View has become a wholly owned subsidiary of the company.

Texmaco Infrastructure & Holdings is a leading diversified Engineering Complex and an Infrastructure Company in India. The company is the leader in the fields of railway freight cars / wagons, hydro-mechanical equipment for mega power projects, heavy steel structures and process equipment, Agro Machinery, Steel Foundry, etc.. The company also in the business activities of MIni Hydro, Real Estate.

 

29-May-2019

Satin Creditcare Network joins hand with TTK Prestige for affordable cooking solutions

Satin Creditcare Network and TTK Prestige have joined hands to provide affordable and healthy cooking solutions to low income groups in South India. TTK Prestige will be selling pressure cookers, induction cooktop and mixer grinders to over 70,000 existing company clients in Karnataka and Tamil Nadu. This partnership with TTK Prestige will serve as a stepping stone for the company to strengthen their penetration in South India and provide maximum benefits to the company’s customers.

Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.

 

29-May-2019

Trident issues Commercial Papers worth Rs 50 crore

Trident has issued Commercial Papers (CPs) of Rs 50 crore on May 29, 2019. The tenure of the instrument is 30 days and the paper will mature on June 28, 2019.

Trident is one of the largest exporters of Home Textile products from India. The company exports to more than 100 countries across 6 continents.

 

29-May-2019

Eros International Media’s Eros Now enters into partnership with Amazon Prime Music

Eros International Media’s parent company — Eros International Plc’s over-the-top (OTT) South Asian entertainment platform — Eros Now has entered into partnership with Amazon Prime Music India. The collaboration will provide Amazon Prime Music in India access to Eros Now’s music content.

This catalogue includes Hindi tracks from recent Bollywood blockbusters along with tunes from other Indian regional languages like Punjabi, Tamil, Bengali and Malayalam, among others. This content partnership will supplement Amazon Prime Music’s existing offering with the full catalogue of Eros Now titles from our premium catalogue of classics and new releases as well as new music being developed exclusively by Eros Now.

Eros International Media is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

 

29-May-2019

Vodafone Idea’s arm enters into strategic partnership with CtrlS

Vodafone Idea’s enterprise arm — Vodafone Idea Business Services (VIBS) has entered into strategic partnership with CtrlS, Asia’s largest Tier-4 Datacenter services provider. The collaboration will allow VIBS and CtrlS to bring together an enriched portfolio of innovative and differentiated products and services.

The partnership will enable customers to successfully embark on a digital transformation journey powered by technologies such as cloud, colocation, managed security services and managed cloud services. It will kick start their digital transformational journey by reducing operational cost, providing on demand scalability, and increasing business agility.

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.

 

29-May-2019

Indian Hotels introduces Taj Hotel & Convention Centre in Agra

Indian Hotels Company (IHCL) has introduced the iconic Taj brand in Agra with the opening of Taj Hotel & Convention Centre, Agra. The hotel spread over 4.5 acres is ideally located within walking distance from the Taj Mahal, one of the Seven Wonders of the World.

The 239 spacious rooms are elegantly designed in a contemporary style. The hotel offers multiple dining options such as Palato, the all-day diner, Daawat-e-Nawaab, the Indian specialty restaurant and two lounges – Liquid Lounge and Tea Lounge.

Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia’s largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.

 

29-May-2019

Minda Corporation reports marginal rise in Q4 consolidated net profit

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

The company has reported a rise of 13.45% in its net profit at Rs 18.73 crore for the quarter under review as compared to Rs 16.51 crore for the same quarter in the previous year. Total income of the company increased by 9.01% at Rs 282.60 crore for Q4FY19 as compared Rs 259.24 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a marginal rise of 1.06% in its net profit at Rs 39.08 crore for the quarter under review as compared to Rs 38.67 crore for the same quarter in the previous year. Total income of the company increased by 6.70% at Rs 778.22 crore for Q4FY19 as compared Rs 729.35 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 50.66% in its net profit at Rs 105.58 crore as compared to Rs 70.08 crore for the previous year. Total income of the company increased by 21.59% at Rs 1,179.72 crore for year under review as compared to Rs 970.26 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 18.21% in its net profit at Rs 167.46 crore as compared to Rs 141.66 crore for the previous year. Total income of the company increased by 17.96% at Rs 3,127.47 crore for year under review as compared to Rs 2,651.23 crore for year ended March 31, 2018.

 

29-May-2019

Bharti Airtel’s arm gets UK FCA’s nod for IPO related registration document

Bharti Airtel’s subsidiary — Airtel Africa, which is eyeing over $1 billion initial public offer (IPO) in London, has received approval for its ‘registration document’ from the UK Financial Conduct Authority. The ‘registration document’ outlines the general details about the company and post its approval by the Financial Conduct Authority (FCA), the company also has to file a separate draft prospectus to the FCA for approval.

The firm plans to sell 25 percent of new shares of Airtel Africa in the proposed initial public offering (IPO) and is looking to trade on the main market of the London Stock Exchange using its premium listing segment. It is also considering a listing in Nigeria.

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

 

29-May-2019

Tech Mahindra, Strands enter into strategic partnership to provide integrated suite

Tech Mahindra and Strands have entered into strategic partnership to provide an integrated suite of secure and customized digital banking solution to financial institutions globally. The company will leverage Strands’ Artificial Intelligence capabilities along with its existing domain expertise in financial services to enable enhanced customer experience.

By providing data-driven analytics of user behavior, the digital banking solution will enable financial institutions to create personalized and contextual offering for their customers.

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.

 

29-May-2019

Adani Enterprises reports 31% rise in Q4 consolidated net profit

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

The company has reported over 5-fold jump in its net profit at Rs 331.19 crore for the quarter under review as compared to Rs 61.16 crore for the same quarter in the previous year. Total income of the company increased by 76.17% at Rs 5,369.18 crore for Q4FY19 as compared Rs 3,047.74 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 30.57% in its net profit at Rs 209.81 crore for the quarter under review as compared to Rs 160.69 crore for the same quarter in the previous year. Total income of the company increased by 33.31% at Rs 13,472.97 crore for Q4FY19 as compared Rs 10,106.14 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported over 2-fold jump in its net profit at Rs 487.24 crore as compared to Rs 197.03 crore for the previous year. Total income of the company increased by 56.81% at Rs 15,923.60 crore for year under review as compared to Rs 10,154.46 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 31.70% in its net profit at Rs 223.40 crore as compared to Rs 327.11 crore for the previous year. However, total income of the company increased by 12.14% at Rs 40,950.62 crore for year under review as compared to Rs 36,516.16 crore for year ended March 31, 2018.

 

29-May-2019

Vascon Engineers receives LoA worth Rs 104 crore

Vascon Engineers has received Letter of Award (LoA) from Pune Municipal Corporation, a Civic Body for Construction of Affordable Housing Project under Pradhan Mantri Awas Yojana (U) at Wadgaon, Pune amounting to Rs 104 crore. The work has been awarded on a ‘Design and Build Basis’. The work has to be completed within 30 months from the date of receipt of Work Order.

Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune with over 30 years of experience delivering 200+ projects spanning over 50 million square feet of landmark developments across residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centers.

 

29-May-2019

Ramco Systems wins ‘Aviation ERP modernization program’ from Air Caledonie

Ramco Systems has won the Aviation ERP modernization program from Societe Caledonienne de Transports Aeriens (Air Caledonie), the first domestic airline of New Caledonia, located in Melanesia in southwest Pacific Ocean. Air Caledonie operates passenger and cargo flights from its capital Noumea to islands within the archipelago, a special collectivity of France. Before partnering with Ramco, Air Caledonie faced difficulties with its old system.

Ramco will implement its advanced modules for Engineering & CAMO, Maintenance, Supply Chain Management, Compliance Management, Flight Log Management, Employee Records & Maintenance and Supply Chain Cost Management across Air Caledonie’s fleet of aircraft. The Maintenance & Engineering (M&E) solution will be used to integrate all of Air Caledonie’s business operations into a single, seamless system. On implementation, Air Caledonie’s users will be able to view multiple indicators and processes all atop a modern and fresh user interface.

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.

 

29-May-2019

Mahindra & Mahindra reports 20% fall in Q4 net profit

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

The company has reported a fall of 19.85% in its net profit at Rs 848.81 crore for the quarter under review as compared to Rs 1,059.09 crore for the same quarter in the previous year. However, total income of the company increased by 5.88% at Rs 14,271.92 crore for Q4FY19 as compared Rs 13,479.37 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 10.10% in its net profit at Rs 4,796.04 crore as compared to Rs 4,356.01 crore for the previous year. Total income of the company increased by 9.55% at Rs 55,302.97 crore for year under review as compared to Rs 50,481.35 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 24.39% in its net profit at Rs 6,016.85 crore as compared to Rs 7,957.79 crore for the previous year. However, total income of the company increased by 12.68% at Rs 105,806.29 crore for year under review as compared to Rs 93,895.80 crore for year ended March 31, 2018.

 

29-May-2019

Karur Vysya Bank signs binding term sheet with Centrum Wealth Management

Karur Vysya Bank has entered into a binding term sheet with Centrum Wealth Management for establishing a private limited joint venture company for the purposes of providing wealth management services, subject to the receipt of regulatory approvals and registrations and entering into definitive agreements by the parties.

Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.

 

29-May-2019

Kabra Extrusiontechnik acquires land in Pune

Kabra Extrusiontechnik has acquired land in Pune for its proposed project of manufacturing Lithium-ion battery packs and commercial production is expected to begin by December 2019.

Kabra Extrusiontechnik, a part of Kolsite group is a leading manufacturer of plastic extrusion machinery in India.

 

29-May-2019

Havells reports 8% fall in Q4 net profit

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

The company has reported a fall of 8.39% in its net profit at Rs 206.83 crore for the quarter ended March 31, 2019 as compared to Rs 225.76 crore for the same quarter in the previous year. However, total income of the company increased by 8.68% at Rs 2,782.81 crore for quarter under review as compared to Rs 2,560.64 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 11.09% in its net profit at Rs 791.52 crore as compared to Rs 712.52 crore for the previous year. Total income of company increased 21.58% at Rs 10,185.17 crore for year under review as compared to Rs 8,377.26 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 18.85% in its net profit at Rs 785.54 crore as compared to Rs 660.97 crore for the previous year. Total income of company increased by 21.64% at Rs 10,202.08 crore for year under review as compared to Rs 8,386.91 crore for year ended March 31, 2018.

 

29-May-2019

Cadila Healthcare reports 22% fall in Q4 consolidated net profit

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

The company has reported a rise of 7.77% in its net profit at Rs 262.10 crore for the quarter under review as compared to Rs 243.20 crore for the same quarter in the previous year. Total income of the company increased by 14.19% at Rs 1,713.90 crore for Q4FY19 as compared Rs 1,500.90 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 22.12% in its net profit at Rs 460.10 crore for the quarter under review as compared to Rs 590.80 crore for the same quarter in the previous year. However, total income of the company increased by 14.91% at Rs 3,771.20 crore for Q4FY19 as compared Rs 3,281.80 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 46.87% in its net profit at Rs 1,602.10 crore as compared to Rs 1,090.80 crore for the previous year. Total income of the company increased by 17.81% at Rs 7,104.30 crore for year under review as compared to Rs 6,030.50 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 4.11% in its net profit at Rs 1,848.80 crore as compared to Rs 1,775.80 crore for the previous year. Total income of the company increased by 10.77% at Rs 13,366.70 crore for year under review as compared to Rs 12,067.60 crore for year ended March 31, 2018.

 

29-May-2019

PVR’s arm joins hands with Reliance Entertainment

Reliance Entertainment has joined hands with PVR Pictures, the motion picture arm of PVR, India’s largest cinema chain, to distribute films pan India. This venture is the first endeavor of its kind in the Indian film industry.

At the onset the companies together will distribute Reliance Entertainment’s upcoming film slate starting with Game Over on June 14. This will be followed by Super 30 on July 12.

PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.

 

29-May-2019

CMI reports 4-fold jump in Q4 net profit

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

The company has reported around 4-fold jump in its net profit at Rs 25.81 crore for the quarter ended March 31, 2019 as compared to Rs 6.84 crore for the same quarter in the previous year. Total income of the company increased by 16.61% at Rs 191.85 crore for quarter under review as compared to Rs 164.52 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 73.85% in its net profit at Rs 44.94 crore as compared to Rs 25.85 crore for the previous year. Total income of company increased 11.32% at Rs 651.50 crore for year under review as compared to Rs 585.24 crore for year ended March 31, 2018.

 

29-May-2019

TCS signs new strategic partnership with SAS

Tata Consultancy Services (TCS) has signed a new strategic partnership with Scandinavia’s leading airline, SAS, the flag-carrier of Sweden, Norway and Denmark. SAS’ new strategic partnership with TCS will build on these successes to deliver an improved experience for SAS customers, creating points of differentiation and competitive advantage for the business.

At the same time, the technology platforms TCS will develop with SAS will help the business to grow and transform effectively. SAS will also use ignio, TCS’ award-winning cognitive automation software, to manage IT operations intelligently and drive data-driven decision-making.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

29-May-2019

V-Guard industries gets nod for raising funds via NCDs

V-Guard industries has received approval for raising of funds by way of issue of secured or unsecured redeemable Non-Convertible Debentures (NCDs), in one or more tranches on private placement basis, within the existing approved limit of borrowings of Rs 750 crores. The Board of Directors of the company at their meeting held on May 29, 2019, approved the same.

V-Guard industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.

 

29-May-2019

Quess Corp increases stake in CBSL

Quess Corp has increased its shareholding from 51% to 70% in Conneqt Business Solutions (CBSL). CBSL is a subsidiary of Quess Corp and is engaged in the business of Business Process Outsourcing Services including Contact Center Services. The additional acquisition will provide significant cross selling opportunity for Quess Corp across its technology, people and service business.

Quess Corp is one of India’s leading integrated business services providers focused on emerging as the preferred partner for handling end-to-end business functions of its clients.

 

29-May-2019

Hulst B.V. buys over 1.70 lakh shares in NIIT Technologies

Hulst B.V. has acquired 170,168 equity shares with face value of Rs 10 each of NIIT Technologies on May 28, 2019. After this acquisition, the entity’s stake in the company has increased from 32.48% to 32.76%.

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.

 

29-May-2019

Gravita India planning to establish some more scrap collection yards in Nicaragua

Gravita India has plans to establish some more scrap collection yards in Nicaragua to have deep routed procurement network which will result in increased volumes of local scrap at cheaper prices. Also the company is increasing its customer base to have better sales realization for its plastic products.

Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.

 

29-May-2019

Power Finance Corporation reports 2-fold jump in Q4 net profit

Power Finance Corporation has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported over 2-fold jump in its net profit at Rs 2,117.56 crore for the quarter ended March 31, 2019 as compared to Rs 796.35 crore for the same quarter in the previous year. Total income of the company increased by 23.14% at Rs 7,702.64 crore for quarter under review as compared to Rs 6,254.96 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 58.50% in its net profit at Rs 6,952.92 crore as compared to Rs 4,386.77 crore for the previous year. Total income of company increased 11.05% at Rs 28,851.29 crore for year under review as compared to Rs 25,980.25 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 43.69% in its net profit at Rs 12,640.27 crore as compared to Rs 8,796.69 crore for the previous year. Total income of company increased by 11.33% at Rs 54,156.83 crore for year under review as compared to Rs 48,645.42 crore for year ended March 31, 2018.

 

29-May-2019

Kolte Patil Developers inks pact with ICICI Venture to hike stake in Pune township project

Kolte Patil Developers has entered into a share purchase agreement to buy-out the 50% stake held by India Advantage Fund-III (IAF-III) and India Advantage Fund-IV (IAF-IV) managed by ICICI Venture Funds Management Company (ICICI Venture) in KPDL’s flagship township project – Life Republic Township Project in Pune.

Following the buy-out, KPDL’s economic interest in Life Republic will increase to 95%, and the company’s overall economic interest in its entire portfolio of projects will rise from 50% to 90%. The cost of acquisition is Rs 140 crore.

Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.

 

29-May-2019

Indiabulls Housing Finance raises $350 million

Indiabulls Housing Finance has completed the issuance and allotment of the Notes for an aggregate nominal amount of $350 million under the updated Secured Euro Medium Term Note Programme of the Company, through the relevant common depositary. The bond issue committee of the board of directors the company at its meeting held on May 28, 2019, completed the issuance and allotment of the same.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).

 

29-May-2019

Vishvprabha Ventures signs MoU with Vinod Builders

Vishvprabha Ventures has entered into a Memorandum of Understanding (MoU) with Vinod Builders for joint development of Residential Project at Maharashtra Nagar, Dombivali west, Maharashtra by incorporating a Special Purpose Vehicle (SPV) in near future.

Vishvprabha Ventures is engaged in the trading business.

 

29-May-2019

Tata Sponge Iron completes registration of transfer deed from UML

Tata Sponge Iron has completed the registration of the transfer deed among Usha Martin (UML), the company and the Governor of Jharkhand, in relation to the transfer of the operative iron ore mine in favour of the company. However, the transportation of the iron ore extracted from the mine to the company’s plant will take some time pending grant of permissions from the concerned authorities.

Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent quality. The company also in the business segment of Power, Sponge Iron.

 

29-May-2019

Tata Steel organizes bird watching programme at Dalma

Tata Steel’s the Environment Management and Raw Materials Division has organized bird watching programme at the Dalma Wildlife Sanctuary.

A total of 20 different species were identified during the sessions by the participants. Apart from the students, other groups which participated included Teachers, Scientists, Volunteers, and Forest guards from Jamshedpur Forest Division.

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.

 

29-May-2019

Tata Communications launches IoT Marketplace in India

Tata Communications has launched Internet of Things (IoT) Marketplace ‘ a first-of-its-kind initiative in India to strengthen and accelerate the country’s growing IoT ecosystem. The IoT Marketplace will bring together IoT practitioners and enterprise customers on a single platform; setting the ground for customers to tailor their IoT solutions and drive innovation within their business, while enabling vendors and partners on the platform to discover new market opportunities.

The company’s IoT Marketplace looks to address these needs by bringing together different partners from device manufacturers, software developers to start-ups and system integrators to deploy and manage IoT solutions, all under one single platform. The complete solution-set will be offered by Tata Communications and the partners in the ecosystem – underpinned by Tata Communications’ pan-India infrastructure and platform.

Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.

 

29-May-2019

Rama Phosphates launches ‘Zinc Sulphate Mono-Hydrate’

Rama Phosphates has launched its new product Zinc Sulphate Mono-Hydrate (Micronutrient) under the brand name ‘Girnar Zinc Gold’ on May 27, 2019.

Rama Phosphates is one of the leading fertilizer manufacturing companies in India. The products of RPL are marketed in various states in the country under brand name of ‘Girnar’ and ‘Suryaphool’.

 

29-May-2019

Maruti Suzuki to harness Solar Power for manufacturing of cars

Maruti Suzuki India took an important step to harness Solar Power to meet its energy needs. The company recently laid the foundation stone for a 5 MW Solar Power plant at the Gurugram facility. The captive Solar Power plant is expected to be commissioned in FY 2019-20.

The company will invest around Rs 240 Million, and will offset CO2 emissions to the tune of over 5390 tonnes annually, for the next 25 years. This is the second grid based Solar Power plant for company. The first Solar Power plant was set up in 2014 at Manesar, with 1 MW capacity. In 2018, this solar power plant was further expanded to 1.3 MW.

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.

 

29-May-2019

Lakshmi Vilas Bank’s net loss narrows to Rs 264 crore in Q4

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

The Bank has reported a net loss of Rs 264.43 crore for the quarter ended March 31, 2019, as compared to net loss of Rs 622.25 crore for the same quarter in the previous year. Total income of the Bank marginally decreased by 0.16% at Rs 739.73 crore for the quarter under review as compared Rs 740.91 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the Bank has posted a net loss of Rs 894.10 crore as compared to net loss of Rs 584.87 crore for the same period in the previous year. Total income of Bank decreased 8.80% at Rs 3,090.21 crore for year under review as compared to Rs 3,388.43 crore for the period ended March 31, 2018.

 

29-May-2019

Gati looks forward to building up towards 2022 mission of delivering a million packages per day

Gati is looking forward to building up towards the 2022 mission of delivering a million packages per day and becoming the leader in end to end logistics services.

Gati is a pioneer in express distribution and supply chain solutions in India.

 

29-May-2019

IRB Infrastructure Developers’ arm to commence toll collection for Hapur Moradabad Project

IRB Infrastructure Developers’ Wholly-owned Subsidiary — IRB Hapur Moradabad Tollway has received Appointed Date from the Competent Authority. Accordingly, the company would commence toll collection and construction on the Hapur Moradabad Project with effect from May29, 2019.

The Project being implemented by the company is of Six Laning of Hapur bypass to Moradabad section including Hapur bypass from Km50.000 (Design Ch. Km50.000) to Km 148.2 77 (Design Ch. Kill 149.867) of NH 24 (New NH-9) in the State of Uttar Pradesh on DBFOT basis under NHDP Phase V Project. The concession period of the project is 22 years including construction period of 910 days. Total cost of the project is approximately Rs 3.345 crore.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

 

29-May-2019

IRB Infrastructure Developers receives O&M work orders

IRB Infrastructure Developers acting as the Project Manager of IRB InvIT Fund (the Trust), has received Work Orders for Operation & Maintenance (O&M) work of the Project SPVs of the Trust for further 10 years. These Work Orders for O&M work would result in improved visibility in consolidated Order Book of the company over 10 years.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

 

29-May-2019

NMDC reports 31% rise in Q4 net profit

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

The company has reported a rise of 31.46% in its net profit at Rs 1,453.77 crore for the quarter under review as compared to Rs 1,105.85 crore for the same quarter in the previous year. However, total income of the company decreased by 5.27% at Rs 3,839.40 crore for Q4FY19 as compared Rs 4,053.16 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 21.97% in its net profit at Rs 4,642.11 crore as compared to Rs 3,805.88 crore for the previous year. Total income of the company increased by 5.00% at Rs 12,740.97 crore for year under review as compared to Rs 12,134.64 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 21.94% in its net profit at Rs 4,637.07 crore as compared to Rs 3,802.79 crore for the previous year. Total income of the company increased by 4.97% at Rs 12,741.63 crore for year under review as compared to Rs 12,138.13 crore for year ended March 31, 2018.

 

29-May-2019

NINL to supply steel billets to projects of Power Grid

Neelachal Ispat Nigam (NINL) has signed a deal to supply steel billets to projects of Power Grid Corporation of India.

Power Grid will use the ms channels and angles produced from the steel billets of NINL for electrical transmission towers across the country for an initial period of one year.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.

 

29-May-2019

SBI holds customer meet to understand issues, grievances of its account holders

State Bank of India (SBI) has held customer meet in Delhi on May 28, 2019, to understand the issues and grievances of its account holders. The customer meet in Delhi addressed the issues of account holders from various regions, including Uttarakhand and western Uttar Pradesh.

SBI also informed the customers about using its one-stop platform for digital banking and lifestyle shopping app, YONO SBI.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

 

29-May-2019

Sun Pharma reports 54% fall in Q4 consolidated net profit

Sun Pharmaceutical Industries has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a 2-fold jump in its net profit at Rs 1068.06 crore for the quarter under review as compared to Rs 504.62 crore for the same quarter in the previous year. Total income of the company increased by 13.07% at Rs 3,231.36 crore for Q4FY19 as compared Rs 2,857.77 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 54.41% in its net profit at Rs 723.05 crore for the quarter under review as compared to Rs 1,585.85 crore for the same quarter in the previous year. However, total income of the company marginally increased by 2.27% at Rs 7,445.45 crore for Q4FY19 as compared Rs 7,279.85 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported around 3-fold jump in its net profit at Rs 816.60 crore as compared to Rs 305.64 crore for the previous year. Total income of the company increased by 14.21% at Rs 11,574.65 crore for year under review as compared to Rs 10,134.29 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 24.98% in its net profit at Rs 3,209.32 crore as compared to Rs 2,567.94 crore for the previous year. Total income of the company increased by 10.11% at Rs 30,091.40 crore for year under review as compared to Rs 27,328.22 crore for year ended March 31, 2018.

 

29-May-2019

Lupin wins India Packaging Award for ‘Corcal Bone & Beauty’

Lupin has won the India Packaging Award 2019 for its Consumer Healthcare brand ‘Corcal Bone & Beauty’, a calcium supplement specially for women. Corcal is the latest launch by the company’s Consumer Healthcare Business, LupinLife. The India Packaging Award was received for the category ‘Excellence in Packaging Design – Graphics and Brand Value Add’ by UBM India.

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

 

29-May-2019

Vodafone Idea completes network integration in Punjab

Vodafone Idea has completed its network integration in Punjab. Punjab is the tenth telecom circle where Vodafone Idea has completed the network integration after Vodafone India and Idea Cellular merged last year.

4G services for both Vodafone and Idea customers in Chandigarh, Ludhiana, Amritsar, Jalandhar, Patiala, Bathinda, Moga, and Hoshiarpur among others will enhance post the integration.

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.

 

29-May-2019

Meghmani Organics installs additional capacity to manufacture 2,4-D

Meghmani Organics has installed additional capacity to manufacture 2,4-D a widely used and environmental friendly herbicide. For this, the company has set up additional production facility at its existing agro manufacturing facility situated at Bharuch in the state of Gujarat.

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.

 

29-May-2019

Lakshmi Vilas Bank’s total business reaches to Rs 51,235 crore in FY19

Lakshmi Vilas Bank’s total business has reached to Rs 51,235 crore as of March 31, 2019 as against Rs 60,314 crore as on March 31, 2018, a decrease of 15.05%

Besides, total deposits of the bank declined from Rs 33,309 crore as on March 31, 2018 to Rs 29,279 crore as on March 31, 2019 registering Y-o-Y decline of 12.10%.

Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.

 

29-May-2019

TV18 Broadcast’s arm to launch Colors Gujarati Cinema

TV18 Broadcast’s subsidiary — Viacom18 Media is going to launch its second Gujarati channel Colors Gujarati Cinema on June 1, 2019 as a pay channel. It will be a part of the network’s primary COLORS wala Value+ Pack.

TV18 Broadcast operates one of India’s leading 24-hour English language news and current affairs channel, CNN IBN. The company also manages the operations of IBN7, a Hindi language news and current affairs channel.

 

29-May-2019

NTPC eyeing to produce 310 billion units of power in FY20

NTPC is eyeing to produce 310 billion units of power and 10.4 million tonne of coal, and spend Rs 20,000 crore on capital expenditure in the current financial year (FY20). The company inked a memorandum of understanding (MoU) with the power ministry on various targets to be achieved in 2019-20.

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.

 

29-May-2019

DIL’s arm completes maintenance work, debottlenecking programme at Dahej plant

DIL’s subsidiary — Fermenta Biotech (FBL) has completed the major repairs, maintenance work as well as the de-bottlenecking programme at Dahej plant and the plant is operating at full capacities which have increased by about 15%, with effect from May 29, 2019.

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).

 

29-May-2019

TCS among America’s top 50 companies for diversity

Tata Consultancy Services (TCS) has been recognised among the top 50 companies in the US for diversity and inclusion management by excelling in areas as hiring, retaining and promoting women, minorities and people with disabilities. The company was selected as one of DiversityInc’s Top 50 Companies – out of more than 1,800 assessed organisations – for its sustained investments and efforts in diversity and inclusion.

The company was ranked specifically for senior leadership accountability, talent programmes, workplace practices, philanthropy, and supplier diversity.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

29-May-2019

GAIL India to list its subsidiary ‘Gail Gas’

GAIL India is planning to list its subsidiary Gail Gas and is aggressively investing in city gas distribution to create volumes before it takes the company to the market. The company has also planned a capital expenditure of Rs 54,000 crore, which it will spend over the next two-three years in laying of gas pipeline network that will feed households and industries such as fertiliser plants. Out of this, the company is planning to invest Rs 12,000 crore in city gas distribution networks to retail CNG to automobiles and piped natural gas to households in towns such as Varanasi and Patna.

Gail Gas, which was incorporated in May 2008, had participated in the 9th and 10th rounds of city gas distribution bidding and won in 15 and eight geographical areas, respectively.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

 

29-May-2019

Greaves Cotton’s arm rolls out electric scooter ‘Zeal’

Greaves Cotton’s e-mobility arm — Ampere Vehicles has rolled out high-speed electric scooter Zeal under FAME-II scheme, priced at Rs 66,950 (ex-showroom Bengaluru with subsidy). The e-scooter will get a subsidy of Rs 18,000. It has a top speed of 55 kmph and a range of 75 km with charge time of 5.5 hours. The launch is part of the company’s strategic initiative to strengthen and expand presence in last-mile e-mobility space.

Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.

 

28-May-2019

Spicejet reports 22% rise in Q4 net profit

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

The company has reported a rise of 21.97% in its net profit at Rs 56.29 crore for the quarter ended March 31, 2019 as compared to Rs 46.15 crore for the same quarter in the previous year. Total income of the company increased by 23.67% at Rs 2,571.83 crore for quarter under review as compared to Rs 2,079.52 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a net loss of Rs 316.08 crore against net profit of Rs 566.66 crore for the previous year. However, total income of company increased 17.36% at Rs 9,258.03 crore for year under review as compared to Rs 7,888.25 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted net loss of Rs 302.40 crore against net profit of Rs 557.20 crore for the previous year. However, total income of company increased by 17.45% at Rs 9,266.25 crore for year under review as compared to Rs 7,889.37 crore for year ended March 31, 2018.

 

28-May-2019

Info Edge turns black in Q4

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

The company has reported a net profit of Rs 66.31 crore for the quarter ended March 31, 2019 against net loss of Rs 13.76 crore for the same quarter in the previous year. Total income of the company increased by 22.76% at Rs 323.08 crore for quarter under review as compared to Rs 263.19 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 54.47% in its net profit at Rs 281.70 crore as compared to Rs 182.37 crore for the previous year. Total income of company increased 19.44% at Rs 1209.41 crore for year under review as compared to Rs 1012.58 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 18.22% in its net profit at Rs 592.20 crore as compared to Rs 500.95 crore for the previous year. Total income of company increased by 18.03% at Rs 1271.25 crore for year under review as compared to Rs 1077.02 crore for year ended March 31, 2018.

 

28-May-2019

Mindtree inaugurates Atlanta Delivery Center

Mindtree has inaugurated its latest US-based Delivery Center in Alpharetta, GA, a 10,000 square foot space dedicated to serving the needs of clients in the Greater Atlanta region. The company’s newest on-shore center provides a local presence near strategic clients and partners, as well as access to further leverage the expertise of technical experts in the region’s workforce.

The Atlanta Delivery Center is company’s third major office opening in the US in 2019, following recent expansions in both Silicon Valley and Minneapolis. It’s part of company’s adaptable approach of providing expert on-shore centers of excellence to complement off-shore teams, offering clients and strategic partners highly collaborative and inclusive environments that enable accelerated business transformations.

Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.

 

28-May-2019

Hindustan Copper gets nod to raise borrowing limits to Rs 2,500 crore

Hindustan Copper has received an approval for enhancement in the borrowing limit from existing Rs 1500 crore to Rs 2500 crore together with interest other than the temporary loans obtained by way of cash credit / working capital arrangements etc. The Board of Directors of the company at their meeting held on May 28, 2019, approved the same.

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

 

28-May-2019

Bharti Airtel’s arm to go for IPO, LSE listing

Bharti Airtel’s subsidiary — Airtel Africa is planning to go for an Initial Public Offer (IPO) and listing on London Stock Exchange (LSE). The related documents have been submitted for approval to the UK Financial Conduct Authority.

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

 

28-May-2019

Adani Transmission reports marginal fall in Q4 consolidated net profit

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

The company has reported a net loss of Rs 4.86 crore for the quarter ended March 31, 2019 against net profit of Rs 24.19 crore for the same quarter in the previous year. However, total income of the company increased marginally by 0.12% at Rs 444.03 crore for quarter under review as compared to Rs 443.49 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported marginal fall of 2.38% in its net profit at Rs 146.70 crore for the quarter ended March 31, 2019 as compared to Rs 150.27 crore for the corresponding quarter in the FY18. However, total consolidated income of the company reported 2-fold jump at Rs 2,569.16 crore for quarter under review as compared to Rs 878.04 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a net profit of Rs 42.40 crore against net loss of Rs 24.63 crore for the previous year. Total income of company increased marginally by 1.31% at Rs 1,631.41 crore for year under review as compared to Rs 1,610.32 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 51.07% in its net profit at Rs 559.20 crore as compared to Rs 1,142.94 crore for the previous year. However, total income of company increased by 86.45% at Rs 7560.80 crore for year under review as compared to Rs 4055.19 crore for year ended March 31, 2018.

 

28-May-2019

Sakthi Sugars to keep Modakurichi Factory inoperative during FY20

Sakthi Sugars has received an approval to keep the Modakurichi Factory inoperative during the financial year 2019-20 in view of inadequate availability of sugarcane due to drought condition and to reduce the cost of operations. There will not be any adverse impact on account of this as the entire cane available will be crushed in Sakthinagar Sugar Factory. The Board of Directors of the company at their meeting held on May 28, 2019, approved the same.

The Board has also given an approval for sale of the company’s yet to complete Cogeneration Unit-II assets at Sakthinagar, subject to approval of banks and financial institution, for augmenting resources to pay secured creditors. There will not be any adverse effect to the company as the above assets are still under work-in-progress and not commissioned.

Sakthi Sugars is one of the largest producers of sugar in India.

 

28-May-2019

GSFC extends annual shutdown of Ammonia- IV, Urea-II plant at Baroda Unit

Gujarat State Fertilizers and Chemicals (GSFC) has extended annual shutdown of Ammonia – IV plant of Baroda Unit by another 15 days period and will resume production from June 17, 2019 due to repairs of minor cracks observed in Isothermal Shift Reactor (ISR) top hemispherical head. Subsequently, Urea – II plant will resume operations on availability of C02 gas from Ammonia-IV plant.

The company has made an alternate arrangement to minimize production losses of various Fertilizers & Industrial Products and the company is also ensuring continuous supply of Fertilizer Products to consumers from its production facilities from Sikka Unit plants.

GSFC is engaged in the manufacturing of fertilizers and industrial products. The company has created more than 24 brands of fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

 

28-May-2019

IFC to invest $35 million in Manappuram Finance

International Finance Corporation (IFC) will invest $35 million (over Rs 240 crore) in Manappuram Finance. The investment will help increase access to gold loans for low-income households and micro, small and medium enterprises (MSMEs).

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

 

28-May-2019

Nucleus’ FinnOne Neo recognizes as market leader by IBS Intelligence

Nucleus Software’s end-to end digital lending solution — FinnOne Neo has been recognized by IBS Intelligence in their Annual Sales League Table 2019. FinnOne Neo has been recognized as the ‘No.1 Leader in the Lending Solutions Category in the Indian Domestic Sales League Table 2019’ and recognized as ‘No.2 Leader in the Lending Solutions Category in the Global Sales League Table 2019’ released by IBS Intelligence. FinnOne Neo was the No. 1 Leader Lending Solutions in India Domestic SLT in 2018 as well.

Nucleus Software Exports is a leading provider of software solutions to the Banking, Financial Services Industry (BFSI). It has developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards.

 

28-May-2019

Gruh Finance gets nod for increasing limit of FPI investment

Gruh Finance has received approval from board for increasing the limit of total investment by all Foreign Portfolio Investors (FPI) under the Portfolio Investment Scheme. The increase in FPI investment is from 24% to 40% of the paid-up equity share capital of the company. This is subject to the approval of the members of the company at the ensuing Annual General Meeting (AGM).

Gruh Finance is a Housing Finance Company recognized by National Housing Bank. The company offers loans to individuals for purchase, construction, repairs, renovation of dwelling units. The company also offers loans to the self employed segment where in formal income proofs are not available.

 

28-May-2019

Indian Overseas Bank unveils ‘Bank on Wheels’ facility

Indian Overseas Bank (IOB) has unveiled ‘Bank on Wheels’ facility in 14 districts spread across Tamil Nadu, Kerala and the Vijayawada region of Andhra Pradesh.

The mobile van facility will enable the public, especially senior citizens, conveniently get door-step banking facility available at identified locations of the lead districts. A dedicated banking correspondent will accompany the vehicle with a micro ATM inside the van to take care of services such as account opening, enrollment of customers in Social Security Scheme, passbook printing, and other financial inclusion activities.

Indian Overseas Bank is a pioneer in many fields – Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.

 

28-May-2019

Dilip Buildcon executes EPC agreement with NHAI

Dilip Buildcon has executed the EPC Agreement with the National Highways Authority of India (NHAI) for project of Rehabilitation and Up-gradation from 2 lane to 4 lane of NH Stretch under NHDP-IVB for Varanasi’ Dagamagpur (Pkg-1) Section of NH-7 on EPC Mode in the State of Uttar Pradesh and Design Chainage km 15+100 to Km 49+100 it through Engineering, Procurement and Construction (EPC) Contract valued at Rs 670 50 crore.

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.

 

28-May-2019

Thomas Cook reports consolidated net profit of Rs 13 crore in Q4

Thomas Cook (India) has reported results for the fourth quarter and year ended March 31, 2019.

The company has reported a net loss of Rs 8.93 crore for the quarter ended March 31, 2019 against net loss of Rs 10.43 crore for the same quarter in the previous year. However, total income of the company increased by 11.91% at Rs 387.21 crore for quarter under review as compared to Rs 346.01 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported fall of 99.78% in its net profit at Rs 13.09 crore for the quarter ended March 31, 2019 as compared to Rs 5,939.18 crore for the corresponding quarter in the FY18. Total consolidated income of the company fell by 45.95% at Rs 1,437.78 crore for quarter under review as compared to Rs 2,660.10 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted a fall of 95.02% in its net profit at Rs 26.47 crore as compared to Rs 531.43 crore for the previous year. However, total income of company increased 18.93% at Rs 2310.80 crore for year under review as compared to Rs 1942.97 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 98.55% in its net profit at Rs 88.84 crore as compared to Rs 6,131.39 crore for the previous year. Total income of company decreased by 41.12% at Rs 6718.69 crore for year under review as compared to Rs 11,411.56 crore for year ended March 31, 2018.

 

28-May-2019

Thangamayil Jewellery to open new branch in Tamil Nadu

Thangamayil Jewellery is going to open its 38th Branch at Sattur- Virudhunagar District, Tamil Nadu on May 29, 2019.

Thangamayil Jewellery is one of the leading jewellery retailers. The Company trades in Gold Jewellery, Diamond and Platinum jewels. The products manufactured by the company includes Gold, Diamond, Silver and Platinum Jewellery, Gem Stones etc.

 

28-May-2019

Bharat Forge completes first tranche investment in Aeron Systems

Bharat Forge has completed Tranche I investment i.e. 17.8% (Investment of 17.8% in 58,500 equity shares of Rs 10 each at a premium of Rs 1015.64 each), in Aeron Systems.

Earlier, Bharat Forge had entered into a share subscription agreement with Aeron Systems and its founders on May 21, 2019, agreeing to subscribe to 97,500 equity shares of Rs 10 each for a stake of 26%. The Subscription is agreed to be subscribed in three tranches.

Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.

 

28-May-2019

Agarwal Industrial Corporation’s arm obtains possession of ‘Bitumen Princess’ Vessel

Agarwal Industrial Corporation’s (AICL) wholly owned subsidiary (WOS) — Ras Al Khaimah Economic Zone (RAKEZ) in United Arab Emirates (UAE) has obtained the possession of its first Vessel – ‘Bitumen Princess’ which delightedly commenced commercial operations. RAKEZ undertakes various ship/vessel /ocean related activities, importing, trading and re-exporting of goods and products.

Agrawal Industrial Corporations is mainly engaged in transportation of bulk bitumen and bulk LPG from various refineries located at Mumbai. Koyali (Baroda), Hazira (Surat) etc. to various LPG bottling plants, storage centres on behalf of HPCL, IOCL, BPCL and other private concerns.

 

28-May-2019

Tech Mahindra, MKI to develop next generation digital enterprise solutions

Tech Mahindra has entered into collaboration with Mitsui Knowledge Industry (MKI) to develop next generation digital enterprise solutions, in the Japanese market. As part of this collaboration, the company and MKI aim to address the lack of SAP skilled workforce for ECC migration to SAP S/4HANA by 2025 in the Japanese market by creating a 600-member engineering pool in Japan and India, out of which the company is expected to bring 300 members.

In addition, both the teams will leverage tools, technologies and best practices to manage various aspects of the customer’s SAP S/4HANA transformation journey including pre-sales, assessment, requirement gathering, implementation and support.

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.

 

28-May-2019

Saksoft to acquire 20% stake in Dreamorbit Softech

Saksoft has received approval to acquire further 20% of the equity share capital in Dreamorbit Softech, a subsidiary of the Company. With this acquisition, the company’s equity share capital will increase from 80% to 100%. The Board of Directors of the Company at its meeting held on May 27, 2019 has approved the same.

The cost of acquisition involved in acquiring the third tranche of 20% of equity stake in Dreamorbit Softech will be not exceeding an amount of Rs 8.50 crore.

Saksoft offers the complete stack of services in the Information Management / Business Intelligence area from Consulting, building Data-warehouse and providing Analytics solution.

 

28-May-2019

Rajapalayam Mills to shift majority of machines to parent unit

Rajapalayam Mills’ board has decided to shift majority of the machines installed at Andhra Pradesh (AP) Unit to its parent unit at Rajapalayam, Tamil Nadu for better control over operation and costs. After shifting the majority of the machineries, the company will initiate the process of selling the residual machines, land & building of AP Unit.

Total revenue generated by the Unit at Andhra Pradesh for the year ended March 31, 2019 was Rs 38,43 crore, which constitutes 9% of the total revenue of the company. There will not be any reduction of revenue/profits of the company since majority of the machineries are being shifted to parent unit at Rajapalayam. The Board of Directors of the company at their meeting held on May 28, 2019, has decided for the same.

Rajapalayam Mills is engaged in the manufacture and sale of yarns.

 

28-May-2019

AVT Natural Products gets nod for commercial operation of subsidiary in Mexico

AVT Natural Products has received an approval for commercial operation of the wholly owned subsidiary viz., AVT Natural S.A. DE C.V, Mexico which is planned from June 2019. The board of the company in its meeting approved the same.

AVT Natural Products is engaged in the manufacture of food safe natural flavour and colour.

 

28-May-2019

PSP Project reports 30% rise in Q4 net profit

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

The company has reported a rise of 31.23% in its net profit at Rs 30.13 crore for the quarter ended March 31, 2019 as compared to Rs 22.96 crore for the same quarter in the previous year. Total income of the company increased by 27.96% at Rs 344.89 crore for quarter under review as compared to Rs 269.53 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 40.19% in its net profit at Rs 90.24 crore as compared to Rs 64.37 crore for the previous year. Total income of company increased 42.59% at Rs 1,066.99 crore for year under review as compared to Rs 748.31 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 35.17% in its net profit at Rs 89.21 crore as compared to Rs 66.00 crore for the previous year. Total income of company increased by 39.43% at Rs 1,073.45 crore for year under review as compared to Rs 770.37 crore for year ended March 31, 2018.

 

28-May-2019

SREI Infrastructure Finance reports 35% rise in Q4 consolidated net profit

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

The company has reported a rise of 12.58% in its net profit at Rs 12.80 crore for the quarter under review as compared to Rs 11.37 crore for the same quarter in the previous year. However, total income of the company decreased by 9.57% at Rs 466.44 crore for Q4FY19 as compared Rs 515.83 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 34.92% in its net profit at Rs 144.85 crore for the quarter under review as compared to Rs 107.36 crore for the same quarter in the previous year. Total income of the company increased by 16.85% at Rs 1,731.48 crore for Q4FY19 as compared Rs 1,481.81 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 4.70% in its net profit at Rs 94.67 crore as compared to Rs 90.42 crore for the previous year. However, total income of the company marginally decreased by 0.67% at Rs 1,889.57 crore for year under review as compared to Rs 1,902.28 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 29.02% in its net profit at Rs 486.78 crore as compared to Rs 377.29 crore for the previous year. Total income of the company increased by 19.81% at Rs 6,469.70 crore for year under review as compared to Rs 5,399.98 crore for year ended March 31, 2018.

 

28-May-2019

SREI Infrastructure Finance’s arm ties-up with Oriental Bank of Commerce

SREI Infrastructure Finance’s wholly-owned subsidiary — Srei Equipment Finance has tied-up with Oriental Bank of Commerce to offer loans for purchase of equipment under a co-lending arrangement. Under the arrangement, financing of construction, mining and allied equipment, medical equipment, commercial vehicles and farm equipment will be covered.

SREI Infrastructure Finance lends for financing infrastructure projects across sectors such as roads, ports, mining and power as well as purchase of infrastructure equipment.

 

28-May-2019

PNB’s net loss narrows to Rs 4750 crore in Q4

Punjab National Bank (PNB) has reported results for fourth quarter and year ended March 31, 2019.

The Bank has reported a net loss of Rs 4749.64 crore for the quarter under review as compared net loss Rs 13,416.91 crore for the same quarter in the previous year. However, total income of the Bank increased by 13.75% at Rs 14,725.13 crore for Q4FY19 as compared Rs 12,945.68 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the Bank has reported a net loss of Rs 9,975.49 crore as compared to net loss of Rs 12,282.82 crore for the previous year. However, total income of the Bank marginally increased by 3.18% at Rs 58,687.66 crore for year under review as compared to Rs 56,876.63 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the Bank has reported a net loss of Rs 9,570.11 crore as compared to net loss of Rs 12,113.36 crore for the previous year. However, total income of the Bank marginally increased by 3.31% at Rs 59,514.53 crore for year under review as compared to Rs 57,608.19 crore for year ended March 31, 2018.

 

28-May-2019

DLF transfers Rs 330 crore land to JV with GIC for settlement of dues

DLF has transferred a three acre land worth Rs 330 crore in Gurugram to its joint venture (JV) with Singapore sovereign wealth fund GIC and is in process to hand over a Noida shopping mall to settle dues. DLF owed Rs 8,700 crore to DLF Cyber City Developers (DCCDL) as on December 31, 2018.

In December 2017, DLF entered into this joint venture with GIC when DLF promoters sold their entire 40 percent stake in DCCDL for nearly Rs 12,000 crore. This deal included sale of 33.34 percent stake in the DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by the DCCDL. DLF holds 66.66 percent while GIC holds 33.34 percent stake in the JV firm DCCDL.

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.

 

28-May-2019

L&T Technology Services inks pact with Kudelski Group

L&T Technology Services (LTTS) has entered into partnership with the Kudelski Group, a leader in digital security, to enable connected cars and industrial systems with robust device identity and protect the device, data, decisions, commands and actions.

LTTS’ extensive engineering expertise combined with Kudelski’s more than three decades of market leadership in embedded security systems will help industrial equipment manufacturers and automotive OEMs create new features and business models while increasing their safety and efficiency.

Through this alliance, LTTS will leverage Kudelski’s security solutions and its IoT Center of Excellence to help manufacturers design, run and sustain effective IoT protection throughout the entire product lifecycle. Kudelski will leverage LTTS’ multi-domain proficiencies and its domain-specific expertise in areas like automotive and plant engineering and work to provide leading-edge secure solutions to joint customers.

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

 

28-May-2019

Music Broadcast gets nod for acquisition of Reliance Broadcast Network

Music Broadcast (MBL) has received an approval for the acquisition of Reliance Broadcast Network (RBNL), a Reliance ADA Group company. Reliance Broadcast Network operates one of the largest FM radio networks in the country under the brand name BIG FM. The Board of Directors of the company at their meeting held on May 27, 2019, approved the same.

Subject to entering into definitive binding agreements, Radio City (a part of Music Broadcast) will initially acquire 24% equity stake of RBNL, the terms of which are being finalized, by way of a preferential allotment for total consideration of Rs 202 crore. Further, on receipt of all regulatory approvals, MBL will acquire the entire stake held by the promoters of RBNL basis an enterprise value of Rs 1050 crore after making adjustments for variations, if any, on the basis of audited accounts for the year ended March 31, 2019.

The entire transaction is expected to close in the first quarter of FY2021.

Music Broadcast operates a network of FM radio channels in India. It broadcasts Hindi and international music in various genres, such as film, non-film, Sufi, ghazals, lounge, current, and retro, as well as various advertising and entertainment solutions.

 

28-May-2019

Hulst B.V. buys further stake in NIIT Technologies

Hulst B.V. has acquired 65,000 equity shares with face value of Rs 10 each of NIIT Technologies on May 27, 2019. After this acquisition, the entity’s stake in the company has increased from 32.38% to 32.48%.

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.

 

28-May-2019

Oriental Bank of Commerce joins hands with Srei Equipment Finance

Oriental Bank of Commerce has joined hands with Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, to offer loans for purchase of equipment under a co-lending arrangement.

The partnership will allow Srei Equipment Finance and Oriental Bank of Commerce to collaborate, co-operate and widen their respective markets and customer base. Financing of construction, mining and allied equipment (CME), medical equipment, commercial vehicles and farm equipment will be covered under this arrangement.

Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations.

 

28-May-2019

Pokarna decides not to pursue restructuring solution for apparel business

Pokarna has decided not to pursue restructuring solution for Apparel Business of the company as despite continuous efforts, no attractive restructuring solution could be identified. Accordingly, Apparel Business has been reclassified from discontinued operations to continuing operations. Consequently, in accordance with Ind AS 105 ‘Non-current Assets held for Sale and Discontinued Operations’, the assets and liabilities of Apparel Business have been restated in the financial statements as at March 31, 2019 and corresponding previous periods.

The Board of Directors of the company at their meeting held on May 27, 2019, decided the same.

Pokarna is engaged in the processing and export of granite in different colours.

 

28-May-2019

Hindustan Aeronautics reports 13% rise in Q4 net profit

Hindustan Aeronautics (HAL) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 13.10% in its net profit at Rs 1,177.29 crore for the quarter under review as compared to Rs 1,040.93 crore for the same quarter in the previous year. Total income of the company increased by 9.83% at Rs 10,163.35 crore for Q4FY19 as compared Rs 9,254.05 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 14.84% in its net profit at Rs 2,282.44 crore as compared to Rs 1,987.42 crore for the previous year. Total income of the company increased by 4.57% at Rs 20,270.23 crore for year under review as compared to Rs 19,384.99 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 13.79% in its net profit at Rs 2,264.77 crore as compared to Rs 1,990.25 crore for the previous year. Total income of the company increased by 4.56% at Rs 20,269.99 crore for year under review as compared to Rs 19,386.10 crore for year ended March 31, 2018.

 

28-May-2019

Thomas Cook’s arm incorporates JV Company in China

Thomas Cook India’s step down subsidiary — Asian Trails International Travel Services (Beijing) has incorporated a new Joint Venture (JV) Company named ‘ATC Travel Services (Beijing)’ in China in order to establish inbound business by investing in 70% stake of that Company.

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.

 

28-May-2019

Bharti Airtel submits Rs 644 crore bank guarantee in TDSAT for TTSL merger

Bharti Airtel has submitted a bank guarantee of Rs 644 crore in telecom tribunal TDSAT to complete the merger of Tata Teleservices’ (TTSL) consumer business with the company. The TDSAT on May 2 granted partial stay on an Rs 8,300-crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of TTSL. As part of the proposed agreement, Airtel will absorb Tata CMB operations in 19 telecom circles (17 under TTSL and 2 under Tata Teleservices (Maharashtra)). It also agreed to take over a small portion of the unpaid spectrum liability of Tata Teleservices.

The merger will bolster Airtel’s spectrum pool with significant additional 178.5 MHz spectrum in 1800, 2100 and 850 MHz bands, widely used for 4G.The proposed merger will include transfer of all the customers and assets of Tata CMB to Airtel.

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

 

28-May-2019

Zee Entertainment Enterprises reports 27% rise in Q4 consolidated net profit

Zee Entertainment Enterprises has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 50.39% in its net profit at Rs 308.29 crore for the quarter under review as compared to Rs 621.45 crore for the same quarter in the previous year. Total income of the company decreased by 13.76% at Rs 1,725.96 crore for Q4FY19 as compared Rs 2,001.25 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 26.83% in its net profit at Rs 292.53 crore for the quarter under review as compared to Rs 230.64 crore for the same quarter in the previous year. Total income of the company increased by 14.48% at Rs 2,076.06 crore for Q4FY19 as compared Rs 1,813.43 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 13.45% in its net profit at Rs 1,654.81 crore as compared to Rs 1,911.93 crore for the previous year. However, total income of the company marginally increased by 3.98% at Rs 7,047.22 crore for year under review as compared to Rs 6,777.40 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 6.06% in its net profit at Rs 1,567.24 crore as compared to Rs 1,477.75 crore for the previous year. Total income of the company increased by 14.87% at Rs 8,185.35 crore for year under review as compared to Rs 7,126.03 crore for year ended March 31, 2018.

 

28-May-2019

Setco Automotive planning to merge Lava Cast with itself

Setco Automotive is planning to merge its subsidiary company — Lava Cast with itself. The Board of Directors of the Company at its meeting to be held on May 30, 2019 to consider the same.

Setco Automotive is a premier manufacturer of clutch products for the Automotive and hydraulic products for Construction Equipment Industry. In addition Setco also manufactures precision engineering components like complex and deep drawn pressings and forgings and castings that are machined and heat treated.

 

28-May-2019

Reliance Industries’ telecom arm adds over 2.50 lakh subscribers in Punjab circle

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has added over 2.50 lakh subscribers in March in Punjab circle.

Reliance Jio continued to remain the market leader in Punjab with the highest customer base of 1.20 crore, adding more than 2.50 lakh subscribers in March 2019 as per the latest telecom subscription data released by Telecom Regulatory Authority of India (TRAI).

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

 

28-May-2019

Reliance Capital, Reliance Land to divest entire stake in RBNL

Reliance Capital and Reliance Land, a part of Reliance Capital Group, have agreed to divest their entire equity stake in Reliance Broadcast Network (RBNL) to Music Broadcast (MBL).

MBL will initially acquire a 24% equity stake of RBNL by way of a preferential allotment for a total consideration of Rs 202 crore and thereafter subject to the receipt of all regulatory approvals, MBL will acquire all of the remaining equity stake held by Reliance Capital and Reliance Land in RBNL at a total enterprise value of Rs 1,050 crore.

In addition, Reliance Capital will receive an estimated Rs 150 crore from the disposal of other assets of RBNL which do not form part of the transaction with MBL, in accordance with the regulations.

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

 

28-May-2019

Adani Ports reports 41% rise in Q4 consolidated net profit

Adani Ports and Special Economic Zone has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 3.73% in its net profit at Rs 674.48 crore for the quarter under review as compared to Rs 700.59 crore for the same quarter in the previous year. Total income of the company decreased by 10.57% at Rs 2,166.63 crore for Q4FY19 as compared Rs 2,422.71 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 41.45% in its net profit at Rs 1,314.19 crore for the quarter under review as compared to Rs 929.06 crore for the same quarter in the previous year. Total income of the company marginally increased by 0.16% at Rs 3,492.72 crore for Q4FY19 as compared Rs 3,487.29 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 9.54% in its net profit at Rs 2,637.72 crore as compared to Rs 2,408.10 crore for the previous year. However, total income of the company decreased by 10.57% at Rs 7,679.28 crore for year under review as compared to Rs 8,141.14 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 9.62% in its net profit at Rs 4,044.75 crore as compared to Rs 3,689.95 crore for the previous year. However, total income of the company marginally decreased by 0.37% at Rs 12,287.78 crore for year under review as compared to Rs 12,333.89 crore for year ended March 31, 2018.

 

28-May-2019

Vascon Engineers gets LoI worth Rs 172 crore from Tycoons Avanti Projects LLP

Vascon Engineers has received Letter of Intent (LoI) from Tycoons Avanti Projects LLP, a Domestic Entity for construction of ‘Sale & Rehab Building’ on design and build basis amounting to Rs 172 crore plus applicable taxes. The work has to be completed within 30 months from the date of receipt of work order.

Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune with over 30 years of experience delivering 200+ projects spanning over 50 million square feet of landmark developments across residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centers.

 

28-May-2019

Vakrangee partners with Lendingkart Finance

Vakrangee has entered into a partnership with Lendingkart Finance, for offering distribution of business loan through its Nextgen Vakrangee Kendras.

These Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics. With 68% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee will make available quick collateral-free business loans with minimal documentation and attractive interest rates to its customers in the most remote and hitherto unserved/underserved parts of the country.

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.

 

28-May-2019

Maruti Suzuki shuts production for a day at Gurgaon, Manesar plants

Maruti Suzuki India has shut production for a day at Gurgaon, Manesar plants to manage rising inventory levels. The company’s installed manufacturing capacity at its two plants in Gurgaon and Manesar in Haryana stands at around 15.5 lakh units per annum.

The company gave employees at the two plants a day off on May 27, 2019 as it faced issues regarding stocking of cars.

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.

 

28-May-2019

APSEZ gets nod to raise Rs 1,500 crore via NCDs

Adani Ports and Special Economic Zone (APSEZ) has received in-principle approval for issuance of Non-Convertible Debentures (NCDs) for refinancing of existing borrowing and general corporate purpose for an amount not exceeding Rs 1,500 crore in one or more tranches on private placement basis. The Board of Directors of the Company at its meeting held on May 27, 2019 has approved the same.

APSEZ is part of Adani Group with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution. APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.

 

28-May-2019

NMDC fixes prices of iron ore

NMDC has fixed the prices of iron ore with effect from May 25, 2019. The price of Lump Ore has been fixed at Rs 3,100 per ton, while the price of Fines has been fixed at Rs 2,860 per ton. The above for prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

 

28-May-2019

NHPC reports over 2-fold jump in Q4 net profit

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

The company has reported over 2-fold jump in its net profit at Rs 492.29 crore for the quarter under review as compared to Rs 199.80 crore for the same quarter in the previous year. Total income of the company increased by 55.49% at Rs 2,186.25 crore for Q4FY19 as compared Rs 1,406.07 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 5% in its net profit at Rs 2,630.55 crore as compared to Rs 2,769.03 crore for the previous year. However, total income of the company increased by 8.70% at Rs 9,085.96 crore for year under review as compared to Rs 8,358.77 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a marginal rise of 1.83% in its net profit at Rs 2,835.79 crore as compared to Rs 2,784.70 crore for the previous year. Total income of the company increased by 12.08% at Rs 9,846.81 crore for year under review as compared to Rs 8,785.66 crore for year ended March 31, 2018.

 

28-May-2019

V-Mart Retail opens 224th store in Assam

V-Mart Retail has opened 224th store in the state of Assam. This takes the total number of stores to 224 Stores in 177 Cities across 17 states and total tally of Assam is 8 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.

 

28-May-2019

Info Edge to acquire entire stake in Highorbit Careers

Info Edge (India) has received approval to acquire 100% share capital on a fully diluted basis of Highorbit Careers for an aggregate cash consideration of about Rs 80.82 crore. The Board of Directors of the Company at its meeting held on May 27, 2019 has approved the same.

The proposed acquisition would help the Company to further consolidate its position in the online recruitment solutions segment where its flagship brand Naukri.com already has an established leadership position.

Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.

 

28-May-2019

IndiGo reports 5-fold jump in Q4 net profit

Interglobe Aviation (IndiGo) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported 5-fold jump in its net profit at Rs 589.59 crore for the quarter under review as compared to Rs 117.64 crore for the same quarter in the previous year. Total income of the company increased by 35.46% at Rs 8,259.81 crore for Q4FY19 as compared Rs 6,097.68 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 93.04% in its net profit at Rs 156.13 crore as compared to Rs 2,242.37 crore for the previous year. However, total income of the company increased by 24.42% at Rs 29,821.71 crore for year under review as compared to Rs 23,967.74 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 92.99% in its net profit at Rs 157.25 crore as compared to Rs 2,242.32 crore for the previous year. However, total income of the company increased by 24.42% at Rs 29,821.37 crore for year under review as compared to Rs 23,967.74 crore for year ended March 31, 2018.

 

28-May-2019

Emami reports 6% fall in Q4 consolidated net profit

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

The company has reported a marginal fall of 3.35 % in its net profit at Rs 48.53 crore for the quarter under review as compared to Rs 50.21 crore for the same quarter in the previous year. However, total income of the company marginally increased by 4.13% at Rs 596.40 crore for Q4FY19 as compared Rs 572.77 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 6.09% in its net profit at Rs 56.09 crore for the quarter under review as compared to Rs 59.73 crore for the same quarter in the previous year. However, total income of the company increased by 6.10% at Rs 656.90 crore for Q4FY19 as compared Rs 619.13 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a marginal fall of 1.38% in its net profit at Rs 305.25 crore as compared to Rs 309.52 crore for the previous year. However, total income of the company increased by 5.57% at Rs 2,525.89 crore for year under review as compared to Rs 2,392.55 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 1.23% in its net profit at Rs 302.53 crore as compared to Rs 306.30 crore for the previous year. However, total income of the company increased by 6.61% at Rs 2,729.53 crore for year under review as compared to Rs 2,560.33 crore for year ended March 31, 2018.

 

28-May-2019

Siemens sharpens focus on Innovation & Start-Ups to enhance digitalization offerings

Siemens India will accelerate efforts to develop and bring to market innovative solutions that create sustainable value for businesses and societies. Siemens is also opening the India office for Next47, an independent global venture firm committed to helping connect Siemens customers to startup innovation from around the world.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.

 

28-May-2019

Oil India reports net loss of Rs 209 crore in Q4

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

The company has reported a net loss of Rs 208.54 crore for the quarter under review against net profit of Rs 866.50 crore for the same quarter in the previous year. Total income of the company decreased by 7.37% at Rs 3,506.11 crore for Q4FY19 as compared Rs 3,784.91 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a marginal fall of 2.92% in its net profit at Rs 2,590.14 crore as compared to Rs 2,667.93 crore for the previous year. However, total income of the company increased by 24.95% at Rs 15,170.00 crore for year under review as compared to Rs 12,140.64 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 18.40% in its net profit at Rs 3,237.80 crore as compared to Rs 2,734.62 crore for the previous year. Total income of the company increased by 27.33% at Rs 14,907.31 crore for year under review as compared to Rs 11,707.81 crore for year ended March 31, 2018.

 

28-May-2019

Hindustan Copper eyeing 25% growth in ore production in FY20

Hindustan Copper is eyeing a 25% growth in ore production to 51.5 lakh tonne in fiscal 2019-20. The company has set a revenue from operations target of Rs 2,000 crore, and capex of Rs 600 crore — mainly for mine expansion projects.

The company has also signed a memorandum of understanding with the Ministry of Mines, outlining the performance targets for this fiscal — raising copper ore production to 51.5 lakh tonne from 41.22 lakh tonne in 2018-19.

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

 

28-May-2019

Shilpa Medicare to foray into R&D activities of specific drug processes

Shilpa Medicare has received approval to foray into the R&D activities of specific drug processes by roping prominent technocrats through a new subsidiary company incorporated as Sravathi Advance Process Technologies. The Board of Directors of the Company at its meeting held on May 27, 2019 has approved the same.

Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.

 

28-May-2019

JIK Industries to close down manufacturing facilities in Mumbai

JIK Industries has decided to close down its manufacturing facilities at Thane in Mumbai and will continuing the business operations with focus on the trading activity. The Board of Directors of the Company at its meeting held on May 27, 2019 has approved the same.

JIK Industries (JIK) is the single largest and sole producer and distributor of branded, hand-made, lead-free crystal glassware in India.

 

28-May-2019

V-Mart Retail opens 223rd store in Jharkhand

V-Mart Retail has opened 223rd store in the state of Jharkhand. This takes the total number of stores to 223 in 176 Cities across 17 states and total tally of Jharkhand is 18 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.

 

28-May-2019

Eros International Media’s Eros Now partners with Tata Sky

Eros International Media’s parent company — Eros International Plc’s over-the-top (OTT) South Asian entertainment platform — Eros Now has reached an agreement with Tata Sky to make Eros Now content available on the Tata Sky Binge platform.

This partnership of Tata Sky Binge and Eros Now will cater to a wide set of underserved audiences and will further enhance the consumer viewing experience.

Eros International Media is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

 

27-May-2019

Hulst BV acquires 1.6 lakh shares of NIIT Technologies

Hulst BV has acquired additional 1.6 lakh shares of NIIT Technologies from the open market, taking its shareholding to 32.38 percent. The shares were bought at Rs 1,267.23 a piece.

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.

 

27-May-2019

Future Retail turns black in Q4

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

The company has reported net profit of Rs 203.17 crore for the quarter ended March 31, 2019 against net loss of Rs 463.63 crore for the same quarter in the previous year. Total income of the company increased by 18.02% at Rs 5,402.75 crore for quarter under review as compared to Rs 4,577.79 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted many fold jump in its net profit at Rs 732.81 crore as compared to Rs 11.31 crore for the previous year. Total income of company increased by 9.17% at Rs 20,185.37 crore for year under review as compared to Rs 18,489.64 crore for year ended March 31, 2018.

 

27-May-2019

Usha International unveils series of new water pump models

Usha International has unveiled a series of new water pump models setting eyes on the sector for its growth. The company is now focusing on water pump category and wants to launch further categories mainly suitable for market requirements

 

Usha International is a multi-product consumer durable manufacturing, marketing and distribution company.

 

27-May-2019

Kridhan Infra’s arm files for insolvency in Singapore

Kridhan Infra’s wholly owned subsidiary — Readymade Steel Singapore has made an application for insolvency in Singapore.

Kridhan Infra is an ISO 9001:2008 certified infrastructure solutions company. The company is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country.

 

27-May-2019

Granules India’s arm gets USFDA’s nod for Methylphenidate Hydrochloride Extended-Release capsules

Granules India’s wholly owned foreign subsidiary — Granules Pharmaceuticals, Inc has received approval from US Food and Drug Administration (USFDA) for Abbreviated New Drug Application (ANDA) for Methylphenidate Hydrochloride Extended-Release capsules for 10 mg, 20 mg, 30 mg, 40 mg and 60 mg, bioequivalent to the reference listed drug product (RLD), Ritalin LA Extended-Release Capsules, 10 mg, 20 mg, 30 mg, 40 mg, and 60 mg, of Novartis Pharmaceuticals Corporation (Novartis). Methylphenidate Hydrochloride Extended-Release Capsules are used for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).

Till date Granules Pharmaceuticals, Inc. had submitted total 19 ANDAs and the current approval is the third ANDA approval for the entity. Approvals for the balance 16 ANDAs are awaited.

Granules India is manufacturer and supplier of pharmaceutical products. Its products include active pharmaceutical ingredients (API) like tablets, caplets, rapid release, pharmaceutical, formulation intermediates (PFI) and Finished Dosages (FDs).

 

27-May-2019

SpiceJet adds 100th plane to fleet

SpiceJet has inducted a Boeing 737, taking its fleet size to 100 aircraft. SpiceJet is the fourth domestic airline to achieve the feat after national carrier Air India, now defunct Jet Airways and rival IndiGo.

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

 

27-May-2019

Info Edge invests Rs 5 crore in Printo Document Services

Info Edge (India) has invested through its wholly-owned subsidiary about Rs 5 crore in Printo Document Services. The company has acquired 3,41 7 – 0.001% compulsorily convertible debentures having a face value of Rs10 each at a premium of Rs14,622.72. The aggregate shareholding of the company, post this investment, in the said entity would be 26.12% on fully converted & diluted basis.

Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.

 

27-May-2019

Indraprastha Gas reports 29% rise in Q4 net profit

Indraprastha Gas (IGL) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 29.06% in its net profit at Rs 225.50 crore for the quarter under review as compared to Rs 174.72 crore for the same quarter in the previous year. Total income of the company increased by 28.42% at Rs 1,752.40 crore for Q4FY19 as compared Rs 1,364.56 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 17.28% in its net profit at Rs 786.67 crore as compared to Rs 670.77 crore for the previous year. Total income of the company increased by 27.24% at Rs 6,508.02 crore for year under review as compared to Rs 5,114.95 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 16.68% in its net profit at Rs 842.10 crore as compared to Rs 721.72 crore for the previous year. Total income of the company increased by 27.13% at Rs 6,490.32 crore for year under review as compared to Rs 5,105.46 crore for year ended March 31, 2018.

 

27-May-2019

Cipla looking at continued growth across all key markets in FY20

Cipla is looking at continued growth across all its key markets in the current fiscal year (FY20) and plans to file over 12 abbreviated new drug applications during the period. For the Indian market, it is looking at strong growth in existing franchises including respiratory and ramp-up of chronic therapies such as diabetes, cardio and women health.

For the US market, where the company has seen significant growth driven by ramp-up across key differentiated products in FY19, it is looking to scale-up last fiscal’s launches and also introduce more products in FY20 while continuing the specialty investments.

In another key market of South Africa, during the current fiscal year Cipla is looking to strengthen its OTC (over-the-counter) business. In the rest of world market, the company will be focusing on continuing market leadership in key regions.

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.

 

27-May-2019

Tata Steel organizes environment painting competition

The Environment Management Department of Tata Steel has organized an Environment Painting Competition on UNEP (United Nations Environment Programme) theme ‘Beat Air Pollution’ at the United Club, for students of Jamshedpur.

About 100 children participated in the painting competitions. All the participants were divided into four groups with respect to their classes. The painting competition were evaluated by judges from the School of Arts. Three students will be recognised in each participating group.

Winners of the painting competition would be rewarded on June 5, 2019 on the occasion of World Environment Day.

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.

 

27-May-2019

Ratnamani Metals & Tubes bags two new orders of Rs 99 crore

Ratnamani Metals & Tubes has bagged two orders worth Rs 99 crore for supply of Titanium Welded Tubes. The domestic order is for Rs 73 crore to be completed by May, 2020, while export order is for approximately Rs 26 crore to be completed by December, 2019.

Ratnamani Metals & Tubes is a multi-location, multi-product company, in India, manufacturing Tubes & Pipes in Stainless Steel/Exotic material and alsoCarbon Steel Pipes, in wide size ranges, for wide spectrum of applications.

 

27-May-2019

Mahindra Finance raises Rs 101 crore though NCDs

Mahindra & Mahindra Financial Services (Mahindra Finance) has raised funds worth Rs 101 crore. The duly authorized Committee of the company, at their meeting held on May 27, 2019, has approved the allotment of 1,010 Secured Redeemable Principal Protected Non-Convertible Market Linked Debentures (NCDs) of the face value of Rs 10,00,000 each, at par, aggregating to Rs 101 crore.

Mahindra Finance one of India’s leading non-banking finance companies.

 

27-May-2019

NTPC reports 49% rise in Q4 net profit

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

The company has reported a rise of 48.70% in its net profit at Rs 4,350.32 crore for the quarter ended March 31, 2019 as compared to Rs 2,925.59 crore for the same quarter in the previous year. However, total income of the company decreased marginally by 4.54% at Rs 22,545.61 crore for quarter under review as compared to Rs 23,617.83 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a rise of 13.60% in its net profit at Rs 11,749.89 crore as compared to Rs 10,343.17 crore for the previous year. Total income of company increased by 8.18% at Rs 92,179.56 crore for year under review as compared to Rs 85,207.95 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 20.30% in its net profit at Rs 12,633.45 crore as compared to Rs 10,501.50 crore for the previous year. Total income of company increased by 8.18% at Rs 97,537.34 crore for year under review as compared to Rs 89,641.59 crore for year ended March 31, 2018.

 

27-May-2019

PNC Infratech reports 25% rise in Q4 net profit

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

The company has reported a rise of 25.48% in its net profit at Rs 139.93 crore for the quarter under review as compared to Rs 111.52 crore for the same quarter in the previous year. Total income of the company increased by 42.12% at Rs 1,087.97 crore for Q4FY19 as compared Rs 765.52 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 29.43% in its net profit at Rs 324.91 crore as compared to Rs 251.04 crore for the previous year. Total income of the company increased by 67.05% at Rs 3,139.91 crore for year under review as compared to Rs 1,879.60 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 44.59% in its net profit at Rs 351.36 crore as compared to Rs 243.01 crore for the previous year. Total income of the company increased by 56.87% at Rs 3,820.97 crore for year under review as compared to Rs 2,435.74 crore for year ended March 31, 2018.

 

27-May-2019

NIIT Technologies reports 16% rise in Q4 consolidated net profit

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

The company has reported a net loss of Rs 8.73 crore for the quarter ended March 31, 2019 against net profit of Rs 4.29 crore for the same quarter in the previous year. However, total income of the company increased by 7.28% at Rs 118.60 crore for quarter under review as compared to Rs 110.55 crore for the quarter ended March 31, 2018.

On consolidated basis, the company has reported rise of 15.54% in its net profit at Rs 23.12 crore for the quarter ended March 31, 2019 as compared to Rs 20.01 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 8.39% at Rs 242.77 crore for quarter under review as compared to Rs 223.97 crore for the same quarter ended previous year.

For the year ended March 31, 2019, the company has posted over 3-fold jump in its net profit at Rs 16.37 crore as compared to Rs 5.15 crore for the previous year. Total income of company marginally increased 4.16% at Rs 430.16 crore for year under review as compared to Rs 412.99 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 36.92% in its net profit at Rs 87.19 crore as compared to Rs 63.68 crore for the previous year. Total income of company increased by 6.79% at Rs 917.43 crore for year under review as compared to Rs 859.09 crore for year ended March 31, 2018.

 

27-May-2019

BHEL reports 49% rise in Q4 net profit

Bharat Heavy Electricals (BHEL) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 49.33% in its net profit at Rs 682.70 crore for the quarter under review as compared to Rs 457.17 crore for the same quarter in the previous year. Total income of the company marginally increased by 0.65% at Rs 10,418.03 crore for Q4FY19 as compared Rs 10,351.07 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 50.68% in its net profit at Rs 1,215.39 crore as compared to Rs 806.60 crore for the previous year. Total income of the company increased by 5.15% at Rs 31,026.59 crore for year under review as compared to Rs 29,507.28 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 1,009.16 crore as compared to Rs 438.19 crore for the previous year. Total income of the company increased by 5.16% at Rs 31,029.17 crore for year under review as compared to Rs 29,506.72 crore for year ended March 31, 2018.

 

27-May-2019

GAIL reports 10% rise in Q4 net profit

GAIL (India) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 9.92% in its net profit at Rs 1,122.23 crore for the quarter under review as compared to Rs 1,020.92 crore for the same quarter in the previous year. Total income of the company increased by 24.98% at Rs 19,629.75 crore for Q4FY19 as compared Rs 15,706.27 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 30.47% in its net profit at Rs 6,025.67 crore as compared to Rs 4,618.41 crore for the previous year. Total income of the company increased by 39.88% at Rs 76,671.57 crore for year under review as compared to Rs 54,812.49 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 36.37% in its net profit at Rs 6,552.77 crore as compared to Rs 4,805.05 crore for the previous year. Total income of the company increased by 39.53% at Rs 77,448.44 crore for year under review as compared to Rs 55,507.03 crore for year ended March 31, 2018.

 

27-May-2019

V-Mart Retail opens two new stores

V-Mart Retail has opened two new stores one in the state of Uttar Pradesh and one in the state of Madhya Pradesh.  This takes the total number of stores to 222 Stores in 176 Cities across 17 states and total tally of Uttar Pradesh is 87 stores and Madhya Pradesh is 9 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.

 

27-May-2019

Sterlite Technologies unveils next-generation business intelligence solution ‘Intellza’

Sterlite Technologies has unveiled Intellza – its next-generation business intelligence solution, at the recently concluded TM Forum Digital Transformation World 2019 in Nice, France.

The solution maximizes engagement through AI-based predictive modelling of customers’ journey. The innovative solution was validated in the event by leading telcos – Orange and Deutsche Telekom.

Sterlite Technologies is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software.

 

27-May-2019

Brigade Enterprises announces pre-launch of ‘Brigade El Dorado’ in Bengaluru

Brigade Enterprises has announced pre-launch Brigade El Dorado – the 8th integrated residential enclave by the company. Brigade El Dorado is a thoughtfully designed 50-acre integrated residential enclave near Aerospace Park in Bengaluru North. The Aerospace Park is a 3000 acre development being planned and promoted by Karnataka Industrial Area Development Board (KIADB) as the hub of aerospace industry in India.

The first phase of Brigade El Dorado has been designed to cater to the growing needs of urban Bengaluru. It will have smartly designed 2 and 3 BHK units that cost less than Rs 45 lakh per unit. Further, those who are eligible for Pradhan Mantri Awes Yojana (PMAY) scheme can get additional subsidy of up to Rs 2.67 lakh on these units, making it attractive for the mid income segments of the society.

Brigade Enterprises is a property development company. The company focuses on residential, offices, retail and hospitality projects. The company operates through three segments — Real Estate segment, Hospitality segment and Leasing segment.

 

27-May-2019

Force Motors reports 35% fall in Q4 net profit

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

The company has reported a fall of 35.28% in its net profit at Rs 39.22 crore for the quarter under review as compared to Rs 60.60 crore for the same quarter in the previous year. However, total income of the company increased by 3.08% at Rs 1,089.70 crore for Q4FY19 as compared Rs 1,057.09 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a marginal rise of 0.16% in its net profit at Rs 147.18 crore as compared to Rs 146.95 crore for the previous year. Total income of the company marginally increased by 3.94% at Rs 3,733.72 crore for year under review as compared to Rs 3,592.14 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 2.57% in its net profit at Rs 143.42 crore as compared to Rs 147.21 crore for the previous year. However, total income of the company marginally increased by 3.94% at Rs 3,734.07 crore for year under review as compared to Rs 3,592.49 crore for year ended March 31, 2018.

 

27-May-2019

Colgate-Palmolive reports 5% rise in Q4 net profit

Colgate-Palmolive (India) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a rise of 4.67% in its net profit at Rs 197.59 crore for the quarter under review as compared to Rs 188.77 crore for the same quarter in the previous year. Total income of the company increased by 5.98% at Rs 1,165.70 crore for Q4FY19 as compared Rs 1,099.97 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 15.18% in its net profit at Rs 775.57 crore as compared to Rs 673.37 crore for the previous year. Total income of the company marginally increased by 3.07% at Rs 4,500.09 crore for year under review as compared to Rs 4,365.89 crore for year ended March 31, 2018.

 

27-May-2019

Intense Technologies features as leader in 2019 Aspire Leaderboard Business Automation grid

Intense Technologies has been positioned as a ‘Leader’ in the 2019 Aspire Leaderboard Business Automation grid, and as ‘Aspirational’ in the Overall Leaders grid for CCM, Communication Composition and Omni-channel orchestration.

The company is amongst Business Automation ‘leaders’ in the 2019 Aspire Leaderboard – a digital-first CCM vendor positioning portal developed by Aspire.

Intense Technologies Limited is a global enterprise software products company, headquartered in India.

 

27-May-2019

Glenmark Pharmaceuticals to raise funds through issue of debt securities

Glenmark Pharmaceuticals is planning to raise funds through issue of debt securities whether denominated in Indian Rupee and/or foreign currency (ies) either by way of a public issue or by way of a private placement in accordance with the provisions of the applicable law, subject to necessary approvals, if any. Proceeds from these debt securities issuance will be used mainly to refinance existing debt.

The meeting of the Board of Directors of the company is scheduled to be held on May 29, 2019, to consider the same.

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).

 

27-May-2019

Shalby fails to execute definitive agreement with Akshar PHC Realcon

Shalby has failed to execute definitive agreement with Akshar PHC Realcon & other land owners for setting up hospital in Shalby Vadodara due to disagreement over commercial terms by Akshare PHC Realcon & other land owners. Hence, Company has dropped Shalby Vadodara project.

Earlier, the Company had executed a memorandum of understanding (MoU) with Shalby Vadodara land owners on April 14, 2017 for setting up 150 bedded hospital to be equipped with modern medical equipment in Vadodara.

Shalby is a chain of Multi-specialty tertiary care hospitals based out of Ahmedabad. It has combined bed strength of more than 700 beds with its multispecialty hospitals across Gujarat and Goa. To cater to specific needs of International Patients, the company has a dedicated International Patients Cell providing round the clock services to International Patients.

 

27-May-2019

Dhunseri Tea’s arm incorporates wholly owned subsidiary

Dhunseri Tea & Industries’ subsidiary — Dhunseri Petrochem & Tea has incorporated a wholly owned subsidiary by the name ‘Dhunseri Mauritius’ on May 02, 2018 and thus Dhunseri Mauritius has become a wholly owned step-down subsidiary of the Company.

Dhunseri Tea and Industries is engaged in tea production. It provides packaging and blending units are located in Dhunseri Tea Estate (Assam) and at Jaipur (Rajasthan).

 

27-May-2019

Xelpmoc Design & Tech gets nod to make investment in five companies

Xelpmoc Design & Tech has received an approval for investment in Share Capital of five companies, in one or more tranches i.e. Woovly India, Taxitop Media, Femmevista Technologies, Graphixstory and Leadstart Publishing. The Board of the company at their meeting approved the same.

Xelpmoc Design & Tech is a provider of professional and technical consulting services, offering technology services and end-to-end technology solutions and support.

 

27-May-2019

Westlife Development’s arm celebrates World International Burger Day

Hardcastle Restaurants (HRPL), a Master Franchisee for West & South India operations of McDonald’s restaurants and a subsidiary of the Westlife Development, is celebrating the distinctive International Burger Day, starting from May 21 to May 28, with a deal. The customers can buy a McVeggie Burger or McChicken Burger and indulge in another burger that comes along with it for no added cost.

The exclusive offer on McDonald’s app encompasses the idea of ‘Ek Se Bhale Do’ where the customers get buy one get one free on McVeggie and McChicken burgers.

Westlife Development focuses on putting up and operating Quick Service Restaurants (QSR) in India through its subsidiary HRPL. The Company operates a chain of McDonald’s restaurants in west and south India, having a master franchisee relationship with McDonald’s Corporation USA, through the latter’s Indian subsidiary.

 

27-May-2019

Aditya Vision opens showroom in Bihar

Aditya Vision has opened its 39th Showroom at Brahampura Naka Chowk, Muzaffarpur, in the state of Bihar.

Aditya Vision is engaged into retail business of consumer electronics, home appliances, camera, camrecorders, and mobile phones. It helps in selecting products from multiple brands based on personalized requirements of a consumer.

 

27-May-2019

Manpasand Beverages’ top management arrested for GST fraud case

Manpasand Beverages’ managing director, Abhishek Singh, his brother Harshvardhan Singh and chief financial officer Paresh Thakkar were arrested by the Central Goods and Services Tax (CGST) Commissionerate Vadodara-II sleuths for an alleged GST fraud.

The authority had carried out raids on several premises of Manpasand Beverages on May 23. The searches resulted into an unveiling of a huge racket of creating fake units for availing fraudulent credit and committing tax evasion of Rs 40 crore and involving turnover of approximately Rs 300 crore.

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

 

27-May-2019

Karur Vysya Bank contribute Rs 5 crore to Army Welfare CSR Fund

Karur Vysya Bank contributed Rs 5 crore to the Army Welfare CSR Fund. As part of the Bank’s Corporate Social Responsibility initiatives, the amount was handed over to the Chief of Army Staff, at New Delhi on May 22, 2019.

Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.

 

27-May-2019

Capacite Infraprojects secures order of Rs 170 crore from Market City Resources

Capacite Infraprojects has received maiden order from Alyssum Developers part of Market City Resources for a contract value of Rs 170.40 crore (excluding GST). The scope of work includes shell and core civil works of mixed use development at Wakad in Pune.

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.

 

27-May-2019

TVS Motor launches TVS Apache RR 310 with ‘Race Tuned Slipper Clutch’ technology

TVS Motor Company has launched the TVS Apache RR 310 equipped with a Race Tuned (RT) Slipper Clutch. This upgrade, born out of the rich racing heritage of TVS Racing, enhances the customer’s riding experience as it provides swift gear shifting with low hand fatigue and maintains vehicle stability at high speed during downshifts, especially in corners.

The new variant also gets minor styling upgrades including a new colour-Phantom Black. The sharp edges and angular design of the bike complement the new colour.

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

 

27-May-2019

DLF reduces net debt by 38% to Rs 4,483 crore in Q4 FY19

DLF has reduced its net debt by 38% during the fourth quarter of FY19 to Rs 4,483 crore with the help of funds raised from selling shares to institutional investors. The net debt has come down from Rs 7,224 crore in Q3 of FY19 to Rs 4,483 crore in Q4 of FY19.

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.

 

27-May-2019

BEML reports 14% fall in Q4 net profit

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

The company has reported a fall of 13.56% in its net profit at Rs 162.24 crore for the quarter ended March 31, 2019 as compared to Rs 187.69 crore for the same quarter in the previous year. However, total income of the company increased by 8.95% at Rs 1,377.53 crore for quarter under review as compared to Rs 1,264.41 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a fall of 50.95% in its net profit at Rs 63.49 crore as compared to Rs 129.45 crore for the previous year. However, total income of company increased 5.22% at Rs 3,504.18 crore for year under review as compared to Rs 3,330.32 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 51.30% in its net profit at Rs 63.16 crore as compared to Rs 129.68 crore for the previous year. However, total income of company increased by 5.23% at Rs 3,497.49 crore for year under review as compared to Rs 3,323.75 crore for year ended March 31, 2018.

 

27-May-2019

HDFC sells 6.10% stake of Gruh Finance

Housing Development Finance Corporation (HDFC) has sold 6.10% stake or 4,47,86,774 equity shares in its subsidiary — Gruh Finance, to comply with the RBI requirement for facilitating the proposed merger of the housing finance arm with Bandhan Bank.

Of the total, the company had sold 1,22,00,000 shares (1.66%) in March and the balance 3,25,86,774 shares (4.44%) were sold on May 24. The average price was Rs 260.07 apiece for shares sold on March 28 and Rs 310.126 apiece for shares sold on May 24. The sale was carried out through stock exchanges at the prevailing market price.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

 

27-May-2019

Ashok Leyland planning to boost light commercial vehicle business

Ashok Leyland is planning to boost its Light Commercial Vehicle (LCV) business with the launch of new products, besides gearing up to roll out vehicles under the BSVI emission norms by April 2020. The company has earmarked Rs 1,000 crore as capital expenditure for financial year 2019-20 and a similar amount for the next fiscal.

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.

 

27-May-2019

Somany Ceramics launches renewed mobile application

Somany Ceramics has launched a renewed mobile application for iOS and Android users as well as a website which offers an intuitive user interface, instant updates, faster navigation and improved search reflecting the company’s constant endeavour to invent and innovate.

The Somany app is a ‘one-stop store’ for the users which includes all necessary information linked to tiles, sanitaryware and bath fittings and all other ancillary products.

Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.

 

27-May-2019

Motherson Sumi Systems reports 43% fall in Q4 consolidated net profit

Motherson Sumi Systems has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 12.84% in its net profit at Rs 210.79 crore for the quarter under review as compared to Rs 241.83 crore for the same quarter in the previous year. Total income of the company decreased by 11.13% at Rs 1,882.36 crore for Q4FY19 as compared Rs 2,118.15 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 43.33% in its net profit at Rs 429.31 crore for the quarter under review as compared to Rs 757.50 crore for the same quarter in the previous year. However, total income of the company increased by 11.43% at Rs 17,237.64 crore for Q4FY19 as compared Rs 15,469.36 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 7.43% in its net profit at Rs 813.77 crore as compared to Rs 879.13 crore for the previous year. Total income of the company decreased by 0.51% at Rs 7,767.80 crore for year under review as compared to Rs 7,807.69 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 7.16 % in its net profit at Rs 2,098.13 crore as compared to Rs 2,259.93 crore for the previous year. However, total income of the company increased by 12.44% at Rs 63,743.06 crore for year under review as compared to Rs 56,691.39 crore for year ended March 31, 2018.

 

27-May-2019

Fortis Healthcare turns black in Q4

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

The company has reported a net profit of Rs 192.50 crore for the quarter under review against net loss of Rs 63.57 crore for the same quarter in the previous year. Total income of the company reported around 3-fold jump at Rs 519.91 crore for Q4FY19 as compared Rs 187.36 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a net profit of Rs 151.19 crore for the quarter under review against net loss of Rs 914.32 crore for the same quarter in the previous year. Total income of the company increased by 8.06% at Rs 1,194.15 crore for Q4FY19 as compared Rs 1,105.09 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company a net profit of Rs 123.09 crore against net loss of Rs 63.73 crore for the previous year. Total income of the company increased by 48.11% at Rs 1,180.98 crore for year under review as compared to Rs 797.37 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a net loss at Rs 223.71 crore as compared to net loss of Rs 934.42 crore for the previous year. Total income of the company decreased by 2.95% at Rs 4,561.76 crore for year under review as compared to Rs 4,700.54 crore for year ended March 31, 2018.

 

27-May-2019

Corporation Bank unveils ‘Corp SME Suvidha’

Corporation Bank has unveiled ‘Corp SME Suvidha’, a product for GST-registered MSMEs. The product has been designed as part of the bank’s efforts to provide best products to MSME sector.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.

 

27-May-2019

India Cements reports 8% growth in cement sales in Q4

India Cements has reported 8% growth in the cement sales for the quarter ended March 31, 2019, at 33.30 lakh tons for the quarter as against 30.93 lakh tons. The company has registered 11% growth for year at 124.40 lakh tons against 111.75 lakh tons in last year.

India Cements is amongst India’s leading manufacturers and supplier of cement and rated as one of the best cement companies in India.

 

27-May-2019

India Cements reports 24% rise in Q4 net profit

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

The company has reported a rise of 24.33% in its net profit at Rs 43.85 crore for the quarter ended March 31, 2019 as compared to Rs 35.27 crore for the same quarter in the previous year. Total income of the company increased by 12.82% at Rs 1,581.38 crore for quarter under review as compared to Rs 1,401.73 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the company has posted a fall of 30.99% in its net profit at Rs 69.44 crore as compared to Rs 100.62 crore for the previous year. However, total income of company increased by 5.58% at Rs 5,658.96 crore for year under review as compared to Rs 5,360.13 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 64.17% in its net profit at Rs 25.26 crore as compared to Rs 70.50 crore for the previous year. However, total income of company increased by 6.47% at Rs 5,809.60 crore for year under review as compared to Rs 5456.77 crore for year ended March 31, 2018.

 

27-May-2019

Glenmark gets final USFDA’s nod for Aspirin and Extended-Release Dipyridamole Capsules

Glenmark Pharmaceuticals’ subsidiary — Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Aspirin and Extended’Release Dipyridamole Capsules, 25 mg/200 mg, a generic version of Aggrenox Capsules, 25 mg/200 mg, of Boehringer Ingelheim Pharmaceuticals, Inc.

According to IQVIA sales data for the 12 month period ending March 2019, the Aggrenox Capsules, 25 mg/200 mg market achieved annual sales of approximately $165.6 million.

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).

 

27-May-2019

Alankit’s arms get approval for scheme of arrangement

Alankit’s wholly owned subsidiaries have received board’s approval for scheme of arrangement inter-se pursuant to which Europlus Financial Services and Euro Global Brokers will merge into Alankit Technologies. Post effectiveness of the Scheme, Alankit Technologies will continue to be the wholly owned subsidiary of Alankit.

The proposed amalgamation of Europlus Financial Services with the Alankit Technologies would result in business synergy, consolidation and pooling of their resources.

Alankit, a market leader and eminent name in the industry today, is a more than two-decade-old conglomerate, having diversified operations in the vital segments like e-Governance, Financial Services, Healthcare and Insurance Broking.

 

27-May-2019

Hi-Tech Pipes reports 45% growth in net volume for Q4FY19

Hi-Tech Pipes has reported net volume of 80,055 mt in Q4FY19, as against 55,282 mt in Q4FY18, a Year on Year (YoY) growth of 45% over corresponding quarter, driven by increase in capacity utilization.

Hi-Tech Pipes, is one of India’s leading producers and suppliers of steel pipes, hollow sections, tubes, cold rolled coils and strips and a variety of other galvanized products.

 

27-May-2019

Salzer Electronics acquires 72.32 per cent stake in Kaycee Industries

Salzer Electronics has acquired 72.32 per cent stake in Kaycee Industries. The acquisition is in line with company’s focus to strengthen Salzers position in the industrial switchgear market by increasing its product offering and expand its footprint in railway business, manufacturing set-up in western India and access to all-India dealer network.

Earlier, the company had entered into a Share Purchase Agreement for acquisition of entire 45,899 equity shares of Kaycee Industries representing 72.32% of the Total paid-up shares at a Price of Rs 3,475 per share from its Principal Promoter – Universal Trust.

Salzer Electronics is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore and Himachal Pradesh.

 

27-May-2019

Page Industries reports 20% fall in Q4 net profit

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

The company has reported a fall of 20.42% in its net profit at Rs 74.98 crore for the quarter under review as compared to Rs 94.22 crore for the same quarter in the previous year. However, total income of the company marginally increased by 0.14% at Rs 616.56 crore for Q4FY19 as compared Rs 615.70 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 13.53% in its net profit at Rs 393.94 crore as compared to Rs 346.98 crore for the previous year. Total income of the company increased by 12.24% at Rs 2,888.63 crore for year under review as compared to Rs 2,573.58 crore for year ended March 31, 2018.

 

27-May-2019

Aavas Financiers planning to raise funds via NCDs

Aavas Financiers is planning to raise funds through issuance of Non-convertible Debentures (NCD) on private placement basis. The Board of Directors of the Company at its meeting to be held on May 29, 2019 to consider the same.

Aavas Financiers is a retail, affordable housing finance company, primarily serving low and middle income self-employed customers in semi-urban and rural areas in India.

 

27-May-2019

USFDA classifies inspection of Lupin’s Goa facility as OAI

USFDA has classified the inspection conducted at Lupin’s Goa facility from January 28 to February 8, 2019 as Official Action Indicated (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed. The inspection at the Goa facility had closed with two observations. Based on USFDA’s Concept of Operations program, the Company understands that the status of the facility is still under review.

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

 

27-May-2019

AMJ Land Holdings to hike stake in Pudumjee Paper Products

AMJ Land Holdings has received approval for acquisition of 1,70,58,769 equity shares of Pudumjee Paper Products, from 3P Land Holdings (formerly known as Pudumjee Industries). The Company holds 0.72% of the equity share capital of Pudumjee Paper Products.

With additional equity shares of Pudumjee Paper Products, the company will restructure Shareholding in Group Company. Post-acquisition, the Company will hold upto 18.69% of the equity share capital of Pudumjee Paper Products.

AMJ Land Holdings (formerly Pudumjee Pulp & Paper Mills) primarily engages in the development of real estate properties in India. The company operates through Real Estate, Power, and Others segments.

 

27-May-2019

SEBI levies penalty of Rs 24 lakh on Amtek Auto

The Securities and Exchange Board of India (SEBI) has levied a total penalty of Rs 24 lakh on Amtek Auto for failing to disclose the invocation of pledge shares in the matter of Castex Technologies. As per the order, Amtek Auto is the promoter of Castex Technologies (CTL).

A fine of Rs 20 lakh was imposed on Amtek Auto for violating SAST norms and Rs 4 lakh for insider trading norms.

Amtek Auto is engaged in the manufacture of components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links.

 

27-May-2019

NESCO gets nod for scheme of amalgamation of wholly owned subsidiary

NESCO has received approval for scheme of amalgamation of Nesco Hospitality, a wholly owned subsidiary of the Company. Nesco Hospitality is engaged in the business of Food Kitchens, Food Courts, Food Kiosks, Mass Catering, etc. The Board of Directors of the Company at its meeting held on May 24, 2019 has approved the same.

NESCO is a tool manufacturing company. The company’s engineering products include forging hammers and presses, blowroom lines and high production cards for the textile industry, and sucker rod pumps for onshore oil recovery. The company also provides equipment to the Indian Railways, numerous Ordnance Factories, and Forging Plants.

 

27-May-2019

FDC gets nod to buyback Rs 120.05 crore equity share

FDC has received approval for buyback of its own fully paid up equity shares of Re 1 each equity shares from the equity shareholders of the Company, not exceeding 34,30,000 fully paid up Equity Shares at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 120.05 crore being less than 10% of the Paid Up Capital and free reserves as on March 31, 2019 from the existing equity shareholders of the Company. The Board of Directors of the Company at its meeting held on May 24, 2019 has approved the same.

FDC is engaged in manufacture of specialized formulations, and oral rehydration salts (ORS).

 

27-May-2019

NCC reports many fold jump in Q4 consolidated net profit

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

The company has reported a rise of 69.76% in its net profit at Rs 174.36 crore for the quarter under review as compared to Rs 102.71 crore for the same quarter in the previous year. Total income of the company increased by 41.56% at Rs 3,424.90 crore for Q4FY19 as compared Rs 2,419.43 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 10-fold jump in its net profit at Rs 175.29 crore for the quarter under review as compared to Rs 17.13 crore for the same quarter in the previous year. Total income of the company increased by 44.26% at Rs 3,811.59 crore for Q4FY19 as compared Rs 2,642.15 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a rise of 96.62% in its net profit at Rs 563.91 crore as compared to Rs 286.80 crore for the previous year. Total income of the company increased by 58.93% at Rs 12,198.01 crore for year under review as compared to Rs 7,675.16 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported 4-fold jump in its net profit at Rs 567.57 crore as compared to Rs 138.73 crore for the previous year. Total income of the company increased by 53.32% at Rs 13,019.97 crore for year under review as compared to Rs 8,492.00 crore for year ended March 31, 2018.

Covered By:

Jamnadas Virji Advisory