This Auto stock lost 11% from last week! Upcoming results & more. 11/05/2019
Performance highlights!Nifty & Others
| Weekly | Last Close | Last Week Close | Change % |
| Nifty | 11,278.90 | 11,598.25 | -2.75% |
| Bank Nifty | 29,040.50 | 29,618.45 | -1.95% |
| USD INR | 69.93 | 69.18 | -1.09% |
| Crude Oil | 4,316.00 | 4,410.00 | -2.13% |
Who gained? Who lost?Industry & Stocks
| Top Gainer of the week on Nifty | |
| TCS | 0.18 % |
| Top Loser of the week on Nifty | |
| Tata Motors | -11.24 % |
| Top Gaining Sector | |
| None | None |
| Top Losing Sector | |
| BSE Energy | -8.64% |
| Industries that saw good volumes past week: |
| Chemicals |
| Consumer Goods |
| NBFC |
| Tyre |
Weekly Technical PicksWhat looks good on charts!
| Weekly Technical Picks: |
| Exide Industries |
| Tata Chemicals |
Market UpdatesUpcoming Results, Record dates & More
| Forthcoming Results | |
| Company | Date |
| Andhra Bank |
13-May-19
|
| Bombay Burmah Trading Corporation Ltd | |
| CCL Products (India) Ltd | |
| Godrej Industries Ltd | |
| Honeywell Automation India Ltd | |
| Housing Development Finance Corporation Ltd | |
| Inox Leisure Ltd | |
| ITC Ltd | |
| Just Dial Ltd | |
| Karnataka Bank Ltd | |
| Linde India Ltd | |
| Mangalore Refinery And Petrochemicals Ltd | |
| Muthoot Finance Ltd | |
| New India Assurance Company Ltd | |
| Oriental Bank of Commerce | |
| SRF Ltd | |
| Trident Ltd | |
| United Bank of India | |
| Vodafone Idea Ltd | |
| Cera Sanitaryware Ltd |
14-May-19
|
| Edelweiss Financial Services Ltd | |
| Endurance Technologies Ltd | |
| Gateway Distriparks Ltd | |
| Indian Bank | |
| Nestle India Ltd | |
| Pidilite Industries Ltd | |
| PTC India Ltd | |
| Sharda Cropchem Ltd | |
| Siemens Ltd | |
| UCO Bank | |
| Union Bank of India | |
| Welspun Corp Ltd | |
| Westlife Development Ltd | |
| Adani Green Energy Ltd |
15-May-19
|
| Aditya Birla Fashion & Retail Ltd | |
| Amara Raja Batteries Ltd | |
| Central Bank of India | |
| Dishman Carbogen Amcis Ltd | |
| Gujarat Pipavav Port Ltd | |
| Gulf Oil Lubricants India Ltd | |
| Himachal Futuristic Communications Ltd | |
| Jammu and Kashmir Bank Ltd | |
| Jubilant Foodworks Ltd | |
| KRBL Ltd | |
| Lupin Ltd | |
| Magma Fincorp Ltd | |
| Maharashtra Scooters Ltd | |
| Maharashtra Scooters Ltd | |
| Mahindra Holidays & Resorts India Ltd | |
| Manappuram Finance Ltd | |
| Navneet Education Ltd | |
| Petronet LNG Ltd | |
| Phoenix Mills Ltd | |
| SKF India Ltd | |
| Torrent Power Ltd | |
| Bajaj Finance Ltd |
16-May-19
|
| Bajaj Finserv Ltd | |
| Bank of India | |
| Blue Dart Express Ltd | |
| Chambal Fertilisers & Chemicals Ltd | |
| D B Corp Ltd | |
| Hindalco Industries Ltd | |
| Johnson Controls-Hitachi Air Condition. India Ltd | |
| JSW Energy Ltd | |
| Minda Industries Ltd | |
| Bajaj Auto Ltd |
17/05/2019
|
| Bajaj Holdings & Investment Ltd | |
| City Union Bank Ltd | |
| Corporation Bank | |
| Dr Lal Pathlabs Ltd | |
| Dr Reddys Laboratories Ltd | |
| Engineers India Ltd | |
| Indian Oil Corporation Ltd | |
| Jubilant Life Sciences Ltd | |
| P I Industries Ltd | |
| Sobha Ltd | |
| UPL Ltd | |
| Graphite India Ltd |
17/05/2019
|
| J K Cements Ltd | |
| Shree Cement Ltd | |
| Thyrocare Technologies Ltd | |
| Forthcoming Record Dates | ||
| Company | Date | Purpose |
| Godrej Consumer Products Ltd. | 13-May-19 | Interim Dividend |
| Kapashi Commercial Ltd. | 15-May-19 | Bonus issue |
| TTK Prestige Ltd. | 16-May-19 | Bonus issue |
| James Warren Tea Ltd. | 17-May-19 | Buy Back of Shares |
| HCL Technologies Ltd. | 17-May-19 | Interim Dividend |
| Sundram Fasteners Ltd. | 21-May-19 | Interim Dividend |
| Gateway Distriparks Ltd. | 22-May-19 | Interim Dividend |
| Frontline Securities Ltd. | 24-May-19 | Buy Back of Shares |
| BSE Ltd. | 28-Jun-19 | Final Dividend |
| Biocon Ltd. | 19-Jul-19 | Final Dividend |
News Highlights!Last week, these stocks made news!
11-May-2019
Syndicate Bank turns black in Q4
Syndicate Bank has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a net profit of Rs 128.02 crore for the quarter ended March 31, 2019 against net loss of Rs 2,195.12 crore for the same quarter in the previous year. Total income of the company increased by 4.95% at Rs 6345.22 crore for quarter under review as compared to Rs 6046 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the company reported a net loss of Rs 2,588.30 crore against net loss of Rs 3,222.84 crore for the previous year. However, total income of company marginally decreased by 2.57% at Rs 23,949.22 crore for year under review as compared to Rs 24,581.85 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 2,524.20 crore against net loss of Rs 3,111.69 crore for the previous year. Total income of company marginally decreased by 2.75% at Rs 24,012.75 crore for year under review as compared to Rs 24,691.28 crore for year ended March 31, 2018.’
11-May-2019
Vodafone pledges stake in Vodafone Idea with foreign banks
Vodafone Plc has pledged its entire stake in Vodafone Idea with seven foreign banks. The Group companies have pledged their 44.39% stake in Vodafone Idea.
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.
11-May-2019
Larsen & Toubro reports 13% rise in Q4 consolidated net profit
Larsen & Toubro has reported results for fourth quarter and year ended March 31, 2019.
The company has reported marginal fall of 2.77% in its net profit at Rs 2,377.42 crore for the quarter under review as compared to Rs 2,445.22 crore for the same quarter in the previous year. However, total income of the company marginally increased by 16.06% at Rs 31,619.03 crore for Q4FY19 as compared Rs 27,244.29 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 13.35% in its net profit at Rs 3,916.13 crore for the quarter under review as compared to Rs 3,454.77 crore for the same quarter in the previous year. Total income of the company increased by 10.86% at Rs 45,555.29 crore for Q4FY19 as compared Rs 41,091.04 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 23.95% in its net profit at Rs 6677.70 crore as compared to Rs 5387.30 crore for the previous year. Total income of the company increased by 17.75% at Rs 89,756.70 crore for year under review as compared to Rs 76,224.32 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 21.29% in its net profit at Rs 10237.58 crore as compared to Rs 8440.29 crore for the previous year. Total income of the company increased by 17.87% at Rs 142858.62 crore for year under review as compared to Rs 121204.03 crore for year ended March 31, 2018.
11-May-2019
HPL Electric issues Commercial Papers worth Rs 10 crore
HPL Electric & Power has issued Commercial Papers (CPs) of Rs 10 crore on May 09, 2019 for 90 days and having maturity date on August 07, 2019. The CPs has a coupon rate of 8.85% per annum.
HPL Electric & Power is an electric equipment manufacturing company engaged in the business of manufacture and sell electric equipments including, metering solutions, switchgears, lighting equipment and wires and cables under the HPL brand.
11-May-2019
TCS convening for second annual Digital Empowers
Tata Consultancy Services (TCS) in partnership with the US Chamber Foundation is convening for the second annual Digital Empowers: Accelerating Innovation for Business and Social Good Summit in Washington DC. This event brings together business leaders, technical experts, and government and community partners that are shaping the future of innovation and social impact.
Digital innovations and emerging technologies, networks, and services are transforming society-from the way companies do business and engage their value chains to the way governments and nonprofits reach and empower communities. This year’s Digital Empowers summit will look to increase the understanding of technological innovations, such as block chain, data analytics, virtual simulations, LoT, and Al in solving societal issues. It will also seek to bring greater awareness to how organizations of all sizes can leverage their capabilities to reshape entire industries and compound social impact within communities around the world.
TCS 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.
10-May-2019
Gujarat Poly Electronics to sell surplus land in Gandhinagar
Gujarat Poly Electronics has received an approval to sell surplus land at Industrial Plot B-17/P at Gandhinagar Electronics Estate, Gandhinagar, for approximate value of Rs 6.39 crore, subject to tax. It is expected to complete the sale/assignment after obtaining all statutory and regulatory approvals from the concerned authorities and signing the definitive documents in this regard. The Board of Directors of the company at its meeting held on May 10, 2019, approved the same.
Gujarat Poly-Avx Electronics is a leading international manufacturer of high quality multilayer ceramic, tantalum, glass capacitors and other passive electronics components.
10-May-2019
Strides Pharma Science reports 92% fall in Q4 consolidated net profit
Strides Pharma Science has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 87.01% in its net profit at Rs 98.82 crore for the quarter ended March 31, 2019 as compared to Rs 760.54 crore for the same quarter in the previous year. However, total income of the company increased by 11.97% at Rs 490.97 crore for quarter under review as compared to Rs 438.48 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported fall of 92.26% in its net profit at Rs 44.70 crore for the quarter ended March 31, 2019 as compared to Rs 577.72 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose 24.65% at Rs 854.29 crore for quarter under review as compared to Rs 685.32 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a fall of 87.62% in its net profit at Rs 110.37 crore as compared to Rs 891.60 crore for the previous year. However, total income of company increased marginally by 1.61% at Rs 1,652.05 crore for year under review as compared to Rs 1,625.81 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 51.80% in its net profit at Rs 329.87 crore as compared to Rs 684.39 crore for the previous year. However, total income of company increased by 4.65% at Rs 3057.11 crore for year under review as compared to Rs 2921.41 crore for year ended March 31, 2018.
10-May-2019
Quess Corp completes acquisition of stake in Greenpiece landscape
Quess Corp has completed the acquisition of 100% equity in Greenpiece landscape India. Consequently, Greenpiece has become a wholly owned Subsidiary of Quess.
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.
10-May-2019
Lupin launches Clobazam Tablets
Lupin has launched Clobazam Tablets, 10 mg and 20 mg, having received an approval from the United States Food and Drug Administration (USFDA) earlier.
Lupin’s Clobazam Tablets, 10 mg and 20 mg is the generic version of Lundbeck Pharms, LLC’s Onfi Tablets, 10 mg and 20 mg. It is indicated for the adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS) in patients 2 years of age or older.
Clobazam Tablets, 10 mg and 20 mg, had an annual sales of approximately $479 million in the US (IQVIA MAT March 2019).
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
10-May-2019
Trident reports 13,224 metric tons of paper production in April
Trident has reported 13,224 metric tons production of Paper in April 2019. Further, chemicals production stood at 7,906 metric tons.
The company’s bath linen and yarn production stood at 4,310 metric tons and 9,756 metric tons, respectively, while bed linen production stood at 1.28 million metres during April.
Trident is one of the largest exporters of Home Textile products from India. The company exports to more than 100 countries across 6 continents.
10-May-2019
Apollo Hospitals launches ‘Department of Women & Child Care’ in Bangalore
Apollo Hospitals Enterprise has launched their ‘Department of Women & Child Care’ recently in Bangalore for the well-being of the mother and the child and the women who are delivering.
Comprising of a 43-bedded adult Intensive Care Unit and a 4-bedded Neonatal Intensive Care Unit (NICU), the hospital is well equipped with all that is necessary at the face of an emergency and to enhance safe delivery.
Apollo Hospitals Enterprise owns and operates chain of multi-specialty hospitals. It offers the services in the area of cardiology, cardiothoracic, orthopedics and joint replacement, spine surgery, oncology, etc.
10-May-2019
Vodafone Idea restores network connectivity in large parts of Odisha
Vodafone Idea has managed to restore network connectivity in large parts of Odisha, including the key location of Puri, which were hit by Cyclone Fani.
Over 1,500 sites have been revived since the day the cyclone hit the coast, enabling not only Vodafone Idea customers but also 4.5 lakh mobile users of other operators to use its network on roaming arrangements.
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.
10-May-2019
Voltas reports 27% fall in Q4 consolidated net profit
Voltas has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 29.34% in its net profit at Rs 125.21 crore for the quarter ended March 31, 2019 as compared to Rs 177.21 crore for the same quarter in the previous year. However, total income of the company increased by 9.80% at Rs 2,099.89 crore for quarter under review as compared to Rs 1,912.44 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported fall of 27.01% in its net profit at Rs 141.74 crore for the quarter ended March 31, 2019 as compared to Rs 194.19 crore for the corresponding quarter in the FY18. However, total consolidated income of the company marginally rose 1.33% at Rs 2,120.02 crore for quarter under review as compared to Rs 2,092.17 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a fall of 7.33% in its net profit at Rs 464.47 crore as compared to Rs 501.23 crore for the previous year. However, total income of company increased 14.60% at Rs 6,955.74 crore for year under review as compared to Rs 6,069.36 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 11.08% in its net profit at Rs 513.88 crore as compared to Rs 577.90 crore for the previous year. However, total income of company increased by 10.73% at Rs 7,310.32 crore for year under review as compared to Rs 6,602.00 crore for year ended March 31, 2018.
10-May-2019
Solar Industries India reports 11% rise in Q4 consolidated net profit
Solar Industries India has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 39.49% in its net profit at Rs 58.10 crore for the quarter ended March 31, 2019 as compared to Rs 41.65 crore for the same quarter in the previous year. Total income of the company increased by 22.10% at Rs 486.86 crore for quarter under review as compared to Rs 398.74 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 11% in its net profit at Rs 75.23 crore for the quarter ended March 31, 2019 as compared to Rs 67.78 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 16.66% at Rs 675.55 crore for quarter under review as compared to Rs 579.10 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 42.61% in its net profit at Rs 191.47 crore as compared to Rs 134.26 crore for the previous year. However, total income of company increased 27.26% at Rs 1684.44 crore for year under review as compared to Rs 1323.58 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 18.50% in its net profit at Rs 276.80 crore as compared to Rs 233.59 crore for the previous year. Total income of company increased by 26.11% at Rs 2476.29 crore for year under review as compared to Rs 1963.57 crore for year ended March 31, 2018.
10-May-2019
Indian Overseas Bank gets nod for capital plan of FY20
Indian Overseas Bank has received an approval for the Capital Plan of the Bank for the year 2019-20. The Board of the Bank at its meeting held on May 09, 2019, approved the same.
The Board has given an approval to issue equity shares to a maximum extent of 300 crore equity shares with appropriate premium to the public, by way of Follow on Public Offer/Rights Issue with or without participation from GOI/issue of equity shares to Qualified Institutional Buyers/issue of Shares to Employees under SEBI (Share Based Employee Benefits) Regulations, 2014/issue of shares on preferential basis to LIC and other insurance companies/mutual funds/QIBs, after obtaining the approval of the shareholders.
Also, the Board has given an approval to raise Tier II capital by issue of BASEL III Compliant Tier II Bonds up to a maximum extent of Rs 1500 crore with or without applicable green shoe option, in one or more tranche/s. on private placement/to retail segment by way of public issue either domestically or overseas.
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.
10-May-2019
Venky’s reports 41.52% fall in Q4 net profit
Venky’s (India) has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 41.52% in its net profit at Rs 29.94 crore for the quarter ended March 31, 2019 as compared to Rs 51.20 crore for the same quarter in the previous year. However, total income of the company increased by 11.76% at Rs 838.42 crore for quarter under review as compared to Rs 750.18 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the company has posted a fall of 12.80% in its net profit at Rs 174.14 crore as compared to Rs 199.71 crore for the previous year. However, total income of company increased 13.15% at Rs 3,072.15 crore for year under review as compared to Rs 2,715.03 crore for year ended March 31, 2018.
10-May-2019
Vardhman Textiles reports 10% rise in Q4 consolidated net profit
Vardhman Textiles has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 3.45% in its net profit at Rs 164.56 crore for the quarter ended March 31, 2019 as compared to Rs 159.06 crore for the same quarter in the previous year. Total income of the company increased by 17.49% at Rs 1737.29 crore for quarter under review as compared to Rs 1478.62 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 9.82% in its net profit at Rs 182.01 crore for the quarter ended March 31, 2019 as compared to Rs 165.73 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 18.17% at Rs 1856.37 crore for quarter under review as compared to Rs 1570.91 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 27.50% in its net profit at Rs 695.88 crore as compared to Rs 545.76 crore for the previous year. However, total income of company increased 9.87% at Rs 6632.78 crore for year under review as compared to Rs 6036.43 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 25% in its net profit at Rs 740.55 crore as compared to Rs 592.44 crore for the previous year. Total income of company increased by 10.16% at Rs 7100.64 crore for year under review as compared to Rs 6445.62 crore for year ended March 31, 2018.
10-May-2019
Kajaria Ceramics reports marginal fall in Q4 consolidated net profit
Kajaria Ceramics has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 4.02% in its net profit at Rs 68.32 crore for the quarter ended March 31, 2019 as compared to Rs 65.68 crore for the same quarter in the previous year. Total income of the company increased by 4.92% at Rs 745.19 crore for quarter under review as compared to Rs 710.27 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported marginal fall of 3.98% in its net profit at Rs 66.86 crore for the quarter ended March 31, 2019 as compared to Rs 69.63 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose 8.83% at Rs 821.84 crore for quarter under review as compared to Rs 755.18 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a marginal fall of 2.54% in its net profit at Rs 245.90 crore as compared to Rs 252.32 crore for the previous year. However, total income of company increased 4.12% at Rs 2,760.88 crore for year under review as compared to Rs 2,651.76 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted marginal rise of 0.07% in its net profit at Rs 228.75 crore as compared to Rs 228.60 crore for the previous year. Total income of company increased by 6.47% at Rs 2,974.23 crore for year under review as compared to Rs 2,793.39 crore for year ended March 31, 2018.
10-May-2019
Kajaria Ceramics gets nod to acquire stake in subsidiary company
Kajaria Ceramics has received approval for acquisition of 7,47,500 equity shares of Rs 10 each of Jaxx Vitrified (Jaxx), a subsidiary company, at a consideration aggregating to Rs 1.49 crore. The Board of Directors of the company at their meeting held on May 10, 2019, approved the same.
Kajaria Ceramics is the largest ceramic floor and wall tile manufacturer in India. The company has an in-house research and development facility that focuses on developing new designs and creating cost effective products.
10-May-2019
Canara Bank’s Q4 net loss narrows to Rs 552 crore
Canara Bank has reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported a net loss of Rs 551.53 crore for the quarter ended March 31, 2019 against net loss of Rs 4859.77 crore for the same quarter in the previous year. However, total income of the bank increased by 21.16% at Rs 14000.43 crore for quarter under review as compared to Rs 11555.11 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the Bank has posted a net profit of Rs 347.02 crore against net loss of Rs 4222.24 crore for the previous year. Total income of bank increased by 10.77% at Rs 53385.30 crore for year under review as compared to Rs 48194.94 crore for year ended March 31, 2018.
10-May-2019
PVR reports 84% rise in Q4 consolidated net profit
PVR has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 64.47% in its net profit at Rs 46.33 crore for the quarter ended March 31, 2019 as compared to Rs 28.17 crore for the same quarter in the previous year. Total income of the company increased by 27.66% at Rs 731.34 crore for quarter under review as compared to Rs 572.88 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 84.43% in its net profit at Rs 47.75 crore for the quarter ended March 31, 2019 as compared to Rs 25.89 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 42.82% at Rs 846.15 crore for quarter under review as compared to Rs 592.44 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 42.27% in its net profit at Rs 172.75 crore as compared to Rs 121.42 crore for the previous year. Total income of company increased 22.02% at Rs 2,776.84 crore for year under review as compared to Rs 2,275.65 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 51.86% in its net profit at Rs 189.37 crore as compared to Rs 124.70 crore for the previous year. Total income of company increased by 31.84% at Rs 3,118.70 crore for year under review as compared to Rs 2,365.45 crore for year ended March 31, 2018.
10-May-2019
SBI turns black in Q4
State Bank of India (SBI) has reported results for the fourth quarter and year ended March 31, 2019.
The bank has reported a net profit at Rs 838.40 crore for the quarter ended March 31, 2019 against net loss of Rs 7,718.17 crore for the same quarter in the previous year. Total income of the bank increased by 10.57% at Rs 75,670.50 crore for quarter under review as compared to Rs 68,436.06 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the bank has posted a net profit at Rs 862.23 crore against net loss of Rs 6,547.45 crore for the previous year. Total income of bank increased 7.09% at Rs 2,78,082.99 crore for year under review as compared to Rs 2,59,663.83 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the bank has posted a net profit at Rs 3,069.07 crore against net loss of Rs 4,187.41 crore for the previous year. Total income of bank increased by 9.53% at Rs 3,30,220.88 crore for year under review as compared to Rs 3,01,491.46 crore for year ended March 31, 2018.
10-May-2019
SpiceJet to offer business class tickets
SpiceJet is entering into the full-service segment offering business class tickets on select domestic routes from May 11.
To begin with, SpiceJet will offer business class on some of its Boeing 737s to be operated from destinations like New Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, Varanasi, Bagdogra, and Srinagar.
SpiceJet is among the first private companies that stepped into the Indian aviation sector.
10-May-2019
Hindustan Media Ventures to invest Rs 4 crore in Aleph Digital Solutions
Hindustan Media Ventures has received approval an investment upto Rs 4 crore in equity share capital of Aleph Digital Solutions. The company will make investment in two tranches of Rs 2 crore each, on or before March 31, 2020. The Board of directors of the company at its meeting held on May 9, 2019 has approved for the same.
Hindustan Media Ventures is one of the leading print media companies in India in terms of readership.
10-May-2019
Hindustan Construction Company reports net loss of Rs 428 crore in Q4
Hindustan Construction Company has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a net loss of Rs 427.87 crore for the quarter under review against net profit of Rs 20.09 crore for the same quarter in the previous year. Total income of the company decreased by 10.82% at Rs 1,347.86 crore for Q4FY19 as compared Rs 1,511.47 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a net loss of Rs 1,961.75 crore against net profit of Rs 77.53 crore for the previous year. Total income of the company decreased by 7.60% at Rs 4,459.13 crore for year under review as compared to Rs 4,826.08 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 341.14 crore against net loss of Rs 1,090.00 crore for the previous year. However, total income of the company marginally increased by 2.04% at Rs 10,396.57 crore for year under review as compared to Rs 10,188.54 crore for year ended March 31, 2018.
10-May-2019
Dish TV unveils ‘Rangmanch Active’
Dish TV India has unveiled ‘Rangmanch Active’- an ad-free theatre-on-demand service for both its brands–DishTV and d2h.
Rangmanch Active is a service in partnership with Zee Theatre, a business vertical of Zee Entertainment Enterprises that brings close to 100 theatre plays with a variety of actors, stories and genres.
Dish TV is India’s largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.
10-May-2019
Vardhman Textiles to merge 4 subsidiaries with itself
Vardhman Textiles has received an in-principle approval for merger of its 4 subsidiary companies with itself.
The Board of Directors of the company in its meeting held on May 09, 2019 has given its in-principle approval for merger of its 4 subsidiary companies with it and has constituted a Committee of Directors to take all appropriate steps in this regard and to appoint legal consultants and/or other agencies to advise the company for proceeding further in this matter. The decision of the Board is subject to the approval of Board of Directors of its subsidiary companies.
Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.
10-May-2019
Tata Motors’ arm reports retail sales of 39,185 vehicles in April
Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) has reported retail sales of 39,185 vehicles in April 2019, down by 13.3% compared to April 2018. The introduction of the all-electric Jaguar I-PACE and the sales ramp up of the new Range Rover Evoque continue to be encouraging, however, retail sales of other models were lower primarily reflecting the continuing weaker market conditions in China.
Retail sales were up again in the UK (12.1%) and in North America (9.6%), but were offset by lower sales in China (-45.7%) and in Overseas markets (-22.3%) with retails in Europe also down (-5.5%).
Jaguar retail sales in April 2019 were 11,462 vehicles, down 13.7% year-on-year and Land Rover retailed 27,723 vehicles, down 13.1% compared to April 2018.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
10-May-2019
Kalpataru Power Transmission reports 31% rise in Q4 net profit
Kalpataru Power Transmission has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 30.57% in its net profit at Rs 136.88 crore for the quarter ended March 31, 2019 as compared to Rs 104.83 crore for the same quarter in the previous year. Total income of the company increased by 28.66% at Rs 2,498.97 crore for quarter under review as compared to Rs 1,942.33 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the company has posted a rise of 24.63% in its net profit at Rs 401.30 crore as compared to Rs 322.00 crore for the previous year. The total income of company increased 23% at Rs 7,166.32 crore for year under review as compared to Rs 5,826.51 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 75.04% in its net profit at Rs 487.09 crore as compared to Rs 278.27 crore for the previous year. Total income of company increased by 24.15% at Rs 10,884.61 crore for year under review as compared to Rs 8,767.03 crore for year ended March 31, 2018.
10-May-2019
Jammu & Kashmir Bank planning to raise Rs 1600 crore
Jammu & Kashmir Bank is planning to raise capital (ATI/Tier II) to the tune of Rs 1600 crore during the Financial Year 2019-2020. The board of directors at their meeting on May 15, 2019 will consider the same.
Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.
10-May-2019
Bajaj Finance returns with second phase of ‘EMI Network Powerplay’ contest
Bajaj Finance, the lending arm of Bajaj Finserv, is back with the second phase of ‘EMI Network Powerplay’ contest. The cricket inspired campaign is specially targeted towards the qualifiers and the final playoffs of the ongoing Indian Premier League. The latest season of EMI Network Powerplay was launched online and will be open for participation till May 12, 2019. Following the interactive concept of the former phase, this engaging campaign interestingly incorporates the features of the Bajaj Finserv EMI Network category and enables the participants to play online and win a Smart TV & Amazon vouchers every day.
Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country.
10-May-2019
Bajaj Auto launches new version of Avenger Street 160
Bajaj Auto has launched a new version of its Avenger Street 160 model equipped with anti-lock braking system (ABS) priced at Rs 82,253 (ex-Showroom Delhi). The new Avenger Street 160 has a single channel ABS along with a roadster design headlamp with LED DRLs, new graphics with larger insignia, black alloy wheels and rubberised rear grab.
Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
10-May-2019
PVR aims to add 35 screens to premium portfolio in next 18-20 months
PVR is aiming to add 35 screens to its premium portfolio in the next 18-20 months. PVR currently operates 771 screens at 165 properties in 67 cities.
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.
10-May-2019
EID Parry reports 0.25 LMT sugar sales in April
EID Parry has sold 0.25 LMT sugar (Domestic and Export) and 42 LL Alcohol in April 2019. Besides, the company’s Alcohol Production, Power Generation and Power Export stood at 62 LL, 209 LU and 103 LU, respectively in the month of April.
EID Parry (India) is a significant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International.
10-May-2019
TCS reclaims status of most valued firm by market valuation
Tata Consultancy Services (TCS) has reclaimed the status of the country’s most valued firm by market valuation, surpassing Reliance Industries (RIL).
RIL shares have been on a downhill, falling for the fourth day in a row on Thursday. In four days, the shares have plunged 10.79% to Rs 1,255.15 on the BSE. Following the plunge in its share price, RIL’s market valuation dropped to Rs 7,95,628.55 crore on the BSE.
At the close of trade, the market capitalisation (m-cap) of TCS stood at Rs 8,13,779.67 crore, which is Rs 18,151.12 crore more than that of RIL’s valuation.
Tata Consultancy Services (TCS) 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.
10-May-2019
DCB Bank planning to raise funds up to Rs 500 crore via bonds
DCB Bank is planning to raise funds up to Rs 500 crore by issuing bonds and related instruments on a private placement basis. The bank will seek approval from shareholders in its ensuing annual general meeting in June for raising of funds in Indian/foreign currency by issue of debt securities, long terms infrastructure bonds or such other bonds in the domestic/overseas market, on a private placement basis. The bank has been borrowing funds to meet the business requirements.
DCB Bank is one of the emerging private sector banks in India. The Bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investment.
10-May-2019
M&M launches new base W3 variant in XUV500 Range
Mahindra & Mahindra (M&M) has launched an all new entry level ‘W3 Variant’ of its popular SUV, the Plush XUV500 at a price of Rs 12.22 lakh (ex-showroom, Mumbai). The W3 variant would be available across India at all Mahindra dealerships with immediate effect.
The XUV500 pioneered the creation of the premium SUV segment and set new benchmarks with its head-turning design, and unmatched package of hi-tech features and thrilling performance.
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.
10-May-2019
South Indian Bank reports 38% fall in Q4 net profit
South Indian Bank has reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported a fall of 38.20% in its net profit at Rs 70.51 crore for the quarter ended March 31, 2019, as compared to Rs 114.10 crore for the same quarter in the previous year. However, total income of the Bank increased by 14.65% at Rs 2,026.59 crore for the quarter under review as compared Rs 1,767.65 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the Bank has posted a fall of 26.09% in its net profit at Rs 247.53 crore as compared to Rs 334.89 crore for the same period in the previous year. However, total income of Bank increased 8.15% at Rs 7,602.73 crore for year under review as compared to Rs 7,030.06 crore for the period ended March 31, 2018.
10-May-2019
Inspirisys Solutions to issue 56 lakh shares to CAC Holdings Corporation
Inspirisys Solutions has received approval to issue upto 56,25,000 equity shares of face value Rs 10 each to CAC Holdings Corporation, Japan, the promoter of the Company, on preferential basis at an issue price which will not be lower than Rs 52 and not higher than Rs 57 per equity share.
The Board of Directors of the Company at its meeting held on May 09, 2019 has approved the same.
Inspirisys Solutions is a leading provider of Integrated IT services to small, medium and large enterprises.
10-May-2019
Indian Overseas Bank’s Q4 net loss narrows to Rs 1985 crore
Indian Overseas Bank has reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported a net loss of Rs 1,985.16 crore for the quarter ended March 31, 2019, against net loss of Rs 3,606.73 crore for the same quarter in the previous year. Total income of the Bank decreased by 6.29% at Rs 5,473.92 crore for the quarter under review as compared Rs 5,841.42 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the Bank has posted a net loss of Rs 3,737.88 crore against net loss of Rs 6,299.49 crore for the same period in the previous year. However, total income of Bank marginally increased 0.81% at Rs 21,837.58 crore for year under review as compared to Rs 21,661.65 crore for the period ended March 31, 2018.
10-May-2019
Welspun Corp secures additional pipe orders of 103 KMT
Welspun Corp has received additional pipe orders of 103 KMT which will be serviced from India. Accordingly, the company’s order book stands at 1,698 KMT valued at Rs 149 billion after considering the above additions and the execution up to April 2019.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
10-May-2019
Edelweiss’ NBFC arm to raise funds through NCDs
Edelweiss Group’s NBFC arm — ECL Finance (ECLF) to raise funds through public issuance of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each, aggregating up to Rs 150 crore (hereinafter referred to as the ‘Base Issue’), with an option to retain over-subscription up to Rs 150 crore aggregating to a total of Rs 300 crore (hereinafter referred to as the ‘Tranche I Issue’).
The NCDs offer an effective yield of 9.90% p.a. for 24 months tenure, 10.20% p.a. for 39 months tenure, up to 10.42% p.a. for 60 months tenure and 10.42% for 120 months tenure.
The funds raised through this Issue will be used for purpose of onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the Company and for general corporate purpose.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.
10-May-2019
Tata Steel inks agreements to induct TANMIA as shareholder in Al Rimal Mining LLC
Tata Steel has signed definitive agreements to induct ‘Oman National Investments Development Company’ (TANMIA) as a shareholder in Al Rimal Mining LLC, a Company which was incorporated with the objective of limestone mining in Oman.
As a result, the indirect equity stake of Tata Steel in Al Rimal Mining LLC will reduce from 70% to 51%. The other existing shareholders of Al Rimal Mining LLC will also sell their partial equity stake of 11% to TANMIA, leading to resultant shareholding of 30% for TANMIA in Al Rimal Mining LLC.
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.
10-May-2019
RIL’s arm to acquire stake in Hamleys Global Holdings
Reliance Industries’ (RIL) subsidiary — Reliance Brands (RBL) has signed a definitive agreement to acquire, subject to terms and conditions stated in the agreement, either by itself or through a direct or indirect wholly owned subsidiary of, and controlled by, RBL, 100% equity shares of Hamleys Global Holdings (HGHL) for a cash consideration of GBP 67.96 million.
Reliance Lifestyle Holdings, a subsidiary of the Company, runs and operates the Indian franchise of the Hamleys brand and has 88 stores in India. This acquisition will catapult RBL to be a major player in the global toy retail industry.
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.
10-May-2019
HDFC Bank to restore cyclone-hit Odisha schools
HDFC Bank will restore and repair 20 government schools in Odisha that were affected by cyclone Fani. This initiative is aimed to help restore normalcy for distressed school students in the cyclone-hit districts of Khurda, Puri and Cuttack.
The 20 schools will be finalized in consultation with the state government and the Bank’s local NGO partners will provide on-ground help with execution of the work. As a humanitarian gesture, the bank is also donating Rs 10 crore to the Odisha Chief Minister’s Relief Fund.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
09-May-2019
Dynamatic Technologies signs long term contract with Boeing Defense
Dynamatic Technologies has signed a Long Term Contract with Boeing Defense for the building of Aft Pylon and Cargo Ramp for Chinook CH-47.
This Contract is an extension of the existing program where Dynamatic is supplying to Global requirements as single source outside of Boeing. With this, the Contract has been extended up to 2023.
Dynamatic Technologies is the largest producer of Hydraulic Gear Pumps in Asia and one of the top five worldwide. The company designs and builds highly engineered products for Automotive, Aeronautic, Hydraulic and Security applications.
09-May-2019
Excel Crop Core closes its Australian arm
Excel Crop Core’s wholly-owned subsidiary — Excel Crop Care Pty (ECCA) in Australia, has been closed and deregistered. ECCA was an inactive company having no commercial, trading or business operations for past several years and it was incurring losses for many years.
ECCA’s major function was to hold registrations for the company’s products in Australia. For holding Product Registrations in Australia, the company has made alternative arrangement and products will continue to be exported to Australia.
Excel Crop Care actively promotes Integrated Pest Management (IPM) to Indian farmers. The company demonstrates the use of Integrated Crop Management (ICM) techniques to the farmers, using innovative methods.
09-May-2019
Sutlej Textiles commences work on Green Fibre project
Sutlej Textiles & Industries has commenced work on the project for setting up of a Green Fibre project to manufacture Raw White & Black Recycled Fibre with capacity of 120 MT/Day.
Project will be funded by mix of internal accruals and debt. Project cost is around Rs 189 crore and capital expenditure of Rs 10 crore already done. Commercial production is expected to start in Q1FY20-21.
Sutlej Textiles & Industries is one of the prominent manufacturers of cotton and cotton blended dyed and melange yarn in the country.
09-May-2019
Asian Paints reports marginal fall in Q4 consolidated net profit
Asian Paints has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a marginal fall of 2.42% in its net profit at Rs 479.68 crore for the quarter ended March 31, 2019 as compared to Rs 491.57 crore for the same quarter in the previous year. However, total income of the company increased by 12.33% at Rs 4,307.29 crore for quarter under review as compared to Rs 3,834.51 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported a marginal fall of 1.71% in its net profit at Rs 487.45 crore for the quarter ended March 31, 2019 as compared to Rs 495.91 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose 12% at Rs 5,075.08 crore for quarter under review as compared to Rs 4,531.52 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 12.66% in its net profit at Rs 2,134.76 crore as compared to Rs 1,894.80 crore for the previous year. Total income of company increased 12.36% at Rs 16,670.59 crore for year under review as compared to Rs 14,837.05 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 5.45% in its net profit at Rs 2,211.91 crore as compared to Rs 2,097.52 crore for the previous year. Total income of company increased by 11.98% at Rs 19,576.89 crore for year under review as compared to Rs 17,482.85 crore for year ended March 31, 2018.
09-May-2019
Sutlej Textiles gets nod to raise funds up to Rs 500 crore
Sutlej Textiles & Industries has received an approval for raising funds not exceeding Rs 500 crore in one or more tranches by issue of securities like equity, debt, bonds, Non-Convertible Debentures, etc. The Board of directors of the company at its meeting held on May 9, 2019 has approved for the same.
Sutlej Textiles & Industries is one of the prominent manufacturers of cotton and cotton blended dyed and melange yarn in the country.
09-May-2019
Lupin, Aptissen enters into distribution agreement to market Synolis VA in Canada
Lupin and Aptissen S.A. (Aptissen) have entered into a definitive distribution agreement under which Aptissen has granted the company exclusive rights to market distribute and sell the current Aptissen products in Canada. This includes immediate rights to distribute Synolis VA for the treatment of Osteoarthritis. Based on Statistics Canada, Osteoarthritis affects more than 10% of Canadians aged 15 or older.
Synolis VA (Visco-Antalgic) is the intra-articular injection product for osteoarthritis with a unique combination of Hyaluronic Acid and high concentration of Sorbitol. Synolis VA 40/80 is already approved by Health Canada and an additional strength is currently 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.
09-May-2019
Apollo Tyres reports 66% fall in Q4 consolidated net profit
Apollo Tyres has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 52.89% in its net profit at Rs 105.38 crore for the quarter ended March 31, 2019 as compared to Rs 223.68 crore for the same quarter in the previous year. However, total income of the company increased by 7.66% at Rs 3,107.19 crore for quarter under review as compared to Rs 2,886.00 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported fall of 66.41% in its net profit at Rs 84.00 crore for the quarter ended March 31, 2019 as compared to Rs 250.11 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose 6.07% at Rs 4,322.24 crore for quarter under review as compared to Rs 4,075.05 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a fall of 4.87% in its net profit at Rs 592.11 crore as compared to Rs 622.39 crore for the previous year. However, total income of company increased 16.75% at Rs 12,465.24 crore for year under review as compared to Rs 10,676.44 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 6.08% in its net profit at Rs 679.84 crore as compared to Rs 723.88 crore for the previous year. However, total income of company increased by 16.17% at Rs 17,671.97 crore for year under review as compared to Rs 15,211.95 crore for year ended March 31, 2018.
09-May-2019
Apollo Tyres gets nod to incorporate WOS Company
Apollo Tyres has received an approval to incorporate a Wholly Owned Subsidiary (WOS) Company for carrying out process execution and shared specialised skills for all business functions globally. The Board of directors of the company at its meeting held on May 9, 2019 has approved for the same.
Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.
09-May-2019
Kovai Medical Center to establish new medical college at Coimbatore
The Medical Council of India has given permission for establishment of New Medical College at Coimbatore titled as ‘KMCH Institute of Health Sciences and Research’ by Kovai Medical Center and Hospital (KMCH) for 150 under graduate seats (MBBS) under the affiliation of The Tamil Nadu Dr. MGR Medical University, Chennai, Tamil Nadu for the Academic Year 2019-20.
KMCH is an India-based company engaged in the running of hospitals.
09-May-2019
Indiabulls Housing Finance allots NCDs worth Rs 120 crore
Indiabulls Housing Finance has allotted 1,200 Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each, aggregating to Rs 120 crore, on May 9, 2019.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).
09-May-2019
Varun Beverages reports 2-fold jump in Q1 consolidated net profit
Varun Beverages has reported results for the first quarter ended March 31, 2019.
The company has reported a rise of 65.55% in its net profit at Rs 55.46 crore for the quarter ended March 31, 2019 as compared to Rs 33.50 crore for the same quarter in the previous year. Total income of the company increased by 10.36% at Rs 1000.17 crore for quarter under review as compared to Rs 906.32 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported 2-fold jump in its net profit at Rs 40.04 crore for the quarter ended March 31, 2019 as compared to Rs 19.74 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 22.24% at Rs 1382.01 crore for quarter under review as compared to Rs 1130.54 crore for the same quarter ended previous year.
09-May-2019
JSW Steel reports crude steel production of 13.93 LT in April
JSW Steel has reported Crude Steel production at 13.93 lakh tonnes (LT) for April 2019, registering a rise of 2% over corresponding month of previous year.
The production of rolled products (long) increased to 3.36 LT in April 2019 as compared to 3.24 LT in April 2018, representing a surge of 4%. The production of rolled products (flat) stood at 9.53 LT in April 2019 as compared to 9.67 LT in April 2018, representing a fall of 1%.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
09-May-2019
CONCOR to invest Rs 8,000 crore in next five years
Container Corporation of India (CONCOR) will pump in up to Rs 8,000 crore in the next five years to develop dry ports and distribution logistics centres across the country.
The company is coming up with 20 distribution logistics centres and 100 dry ports. It is already operating 83 (dry ports) and it will make it 100. The 20 distribution logistics centres will be connected to 100 (dry ports).
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.
09-May-2019
ICRA reports 5% fall in Q4 consolidated net profit
ICRA has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 25.98% in its net profit at Rs 20.29 crore for the quarter under review as compared to Rs 27.41 crore for the same quarter in the previous year. Total income of the company decreased by 8.24% at Rs 68.01 crore for Q4FY19 as compared Rs 74.12 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a fall of 5.23% in its net profit at Rs 26.11 crore for the quarter under review as compared to Rs 27.55 crore for the same quarter in the previous year. Total income of the company decreased by 4.37% at Rs 95.30 crore for Q4FY19 as compared Rs 99.65 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a fall of 4.34% in its net profit at Rs 95.97 crore as compared to Rs 100.32 crore for the previous year. However, total income of the company marginally increased by 0.66% at Rs 274.67 crore for year under review as compared to Rs 272.87 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 3.36% in its net profit at Rs 104.58 crore as compared to Rs 101.18 crore for the previous year. Total income of the company marginally increased by 4.09% at Rs 372.86 crore for year under review as compared to Rs 358.22 crore for year ended March 31, 2018.
09-May-2019
HCL Technologies reports 14% rise in Q4 consolidated net profit
HCL Technologies has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 10.32% in its net profit at Rs 2,031 crore for the quarter ended March 31, 2019 as compared to Rs 1,841 crore for the same quarter in the previous year. Total income of the company increased by 21.37% at Rs 7,172 crore for quarter under review as compared to Rs 5,909 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 14.35% in its net profit at Rs 2,550 crore for the quarter ended March 31, 2019 as compared to Rs 2,230 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 20.10% at Rs 16,190 crore for quarter under review as compared to Rs 13,480 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 11.18% in its net profit at Rs 8,185 crore as compared to Rs 7,362 crore for the previous year. Total income of company increased 17.75% at Rs 26,817 crore for year under review as compared to Rs 22,775 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 16.03% in its net profit at Rs 10,120 crore as compared to Rs 8,722 crore for the previous year. Total income of company increased by 18.51% at Rs 61,370 crore for year under review as compared to Rs 51,786 crore for year ended March 31, 2018.
09-May-2019
Morarjee Textiles gets nod to raise funds via NCDs
Morarjee Textiles has received approval to raise funds by way of issuing Non-Convertible Debentures (NCDs) on Private Placement basis. The Board of Directors of the Company at its meeting held on May 08, 2019 has approved the same.
Morarjee Textiles (MTL) is a manufacturer of textile products. The Company is engaged in the business of manufacture of cotton fabric and fashion printed fabric.
09-May-2019
IndiGo is in process of securing necessary approvals for entering China
IndiGo is in the process of securing necessary approvals for entering China as part of its international route network expansion plans. IndiGo currently has a fleet of 225 planes comprising 207 Airbus A320s and A320 Neos, two A321 Neos and 16 regional jets comprising ATRs.
InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.
09-May-2019
India Ratings downgrades Yes Bank’s long-term ratings
Credit Rating agency — India Ratings has downgraded Yes Bank long-term ratings to ‘AA’ with negative outlook. The development comes a day after another rating agency Icra lowered the bank’s rating. India Ratings has downgraded the bank’s long-term ratings, while reaffirming short term rating.
However, the bank had also reported its maiden loss of over Rs 1,506 crore in the March quarter, driven by a near ten-fold spike in provisions.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
09-May-2019
Mindtree wins ‘Best Compliance Framework of the Year’ award
Mindtree has won ‘Best Compliance Framework of the Year’ award at the Compliance Leadership Summit & Awards 2019, hosted by UBS Forums.
Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.
09-May-2019
Gillette reports 23% rise in Q3 net profit
Gillette India has reported results for third quarter ended March 31, 2019.
The company has reported a rise of 23.05% in its net profit at Rs 87.76 crore for the quarter under review as compared to Rs 71.32 crore for the same quarter in the previous year. Total income of the company marginally increased by 3.59% at Rs 468.84 crore for Q3 as compared Rs 452.60 crore for the corresponding quarter previous year.
Gillette India is a renowned player in the FMCG industry. The company is in the business of manufacturing Blades and Razors, Oral care and Portable Power. Company has created brands like Duracell, Oral-B, MACH3 Turbo and 7o’clock. The company also in the business activities of Grooming, Oral Care, Portable Power.
09-May-2019
Shriram Transport Finance Company reports 22% fall in Q4 net profit
Shriram Transport Finance Company has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 22.43% in its net profit at Rs 746.04 crore for the quarter under review as compared to Rs 961.76 crore for the same quarter in the previous year. However, total income of the company increased by 7.63% at Rs 3,880.43 crore for Q4FY19 as compared Rs 3,605.47 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a marginal rise of 4.20% in its net profit at Rs 2,563.99 crore as compared to Rs 2,460.54 crore for the previous year. Total income of the company increased by 16.35% at Rs 15,545.70 crore for year under review as compared to Rs 13,361.64 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 0.69% in its net profit at Rs 2,563.99 crore as compared to Rs 2,546.40 crore for the previous year. Total income of the company increased by 15.10% at Rs 15,545.70 crore for year under review as compared to Rs 13,506.20 crore for year ended March 31, 2018.
09-May-2019
Bhagyanagar Properties executes sale deed in favour of Sai Surya Developers
Bhagyanagar Properties has executed sale deed in favour of Sai Surya Developers, Hyderabad, for sale of 3,310 square yards of open land out of total extent of 14.44 Acres of land situated at Vattinagulapally Village, Gandipet Mandai, Hyderabad at a price of Rs 12000 per square yards.
Further, the company has received an amount of Rs 3,97,20,000 towards sale consideration.
Bhagyanagar Properties is a wholly owned subsidiary of Bhagyanagar India. It is in the business of purchasing land parcels and then developing them.
09-May-2019
Vedanta expects coal output from Chotia block to reach 1 MTPA
Vedanta is expecting coal output from the mine located in Chhattisgarh (Chotia block) to increase to one million tonnes per annum (MTPA) in near term as it looks to secure 90% of its requirement from linkage and captive block. The output from the captive mine stood at 0.45 million tonnes in the fourth quarter of last fiscal.
Bharat Aluminium (Balco), part of Anil Agarwal-led Vedanta, had bagged Chotia block during the first phase of coal mine auctions held in 2015.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
09-May-2019
Neo Infracon’s arm enters into lease agreement with Finetech Corporation
Neo Infracon’s subsidiary — New-Tech Infrastructure has entered into the lease agreement with Finetech Corporation in Phase 1 for its plot of land in village Ustane Taluka Ambernath District Thane for the period of 5 years.
The physical possession as per the agreement entered will be handed over to the licensee before the end of this month and the licensor will start receiving the rent from June 01, 2019. The revenue from lease rent will come into effect in the financial year 2019-20.
09-May-2019
Medico Intercontinental acquires stake in Azillian Healthcare
Medico Intercontinental has purchased all the shares of the company under the name and style of Azillian Healthcare. The main objective of the said acquisition is due to company’s interest in the Pharmaceutical and Allied sector in line with the proposed objects of the company.
Medico Intercontinental is a dynamic business organization operating in the field of financing, trading and investment in shares and securities.
09-May-2019
Tata Steel faces technical problem at Jamshedpur Plant
Tata Steel has faced a technical problem on May 8, 2019 at its Jamshedpur Plant, after the ‘H’ Blast Furnace Process coal injection system used for injecting fuel into furnace. Immediately the operating team began work on restoring the system back to optimal performance.
However, owing to the above mentioned technical problem, furnace pressure increased and as per standard procedure, process safety measures immediately kicked in and the bleeders which are the safety relief system in the furnace operated.
There has been no injury of any sort whatsoever to any individual and no property damage due the same. The Furnace is presently in recovery mode.
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.
09-May-2019
Maruti Suzuki takes proactive measures for customers in Odisha, West Bengal regions
Maruti Suzuki has ensured to educate its customers in advance in Odisha and West Bengal regions on the do’s and dont’s to avoid damage to vehicles during cyclone Fani. The company reached out to its database of over 3 lakh customers through SMS and informed them about preventive measures on April 30, 2019, nearly a week before the cyclone’s landfall. Maruti Suzuki actioned series of measures including distributing its team district-wise to quickly take care of any damages.
The company’s officials were assigned a district each and their mobile number was shared with the customers in that area for help and support. All the workshops in affected area resumed operations from next day of cyclone for servicing of vehicles to avoid discomfort to customers. Maruti Suzuki also tied up seven major vehicle towing agencies to provide seamless services to its customers and also spare parts were requisitioned on a fast track basis.
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.
09-May-2019
Maruti Suzuki reports 10% fall in April production
Maruti Suzuki India has reported 9.6% fall in its production to 147,669 vehicles in April 2019, as compared to 163,368 vehicles in April 2018. Of total, the company manufactured 22,773 vehicles under mini segment (including Alto, Wagon R) in April 2019, as against 36,185 units manufactured in corresponding month previous year.
The company manufactured 83,411 vehicles under Compact segment; 3,314 vehicles under Midsize; 24,516 units under Utility Vehicles segment and 10,688 units under Vans category. The company has also produced 2,967 vehicles under Light Commercial Vehicles (LCV) segment (including super carry) in April 2019, as against 1,998 units produced in corresponding month previous year.
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.
09-May-2019
Kamat Hotels’ unit gets affected due to Fani Cyclone
Kamat Hotels’ unit — Lotus Resorts situated at Konark, Odisha has been affected heavily due to Fani Cyclone. The company is still in process of accessing the damages caused to the property.
Kamat Hotels (India) is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants.
09-May-2019
JSPL secures order worth Rs 665 crore from RVNL
Jindal Steel & Power (JSPL) has won an order from Rail Vikas Nigam (RVNL) to supply 89042 tonnes of UIC 60 kg IRS T-12 880 grade 13 meter rails for its upcoming projects. The order is valued at approximately Rs 665 crore. A notification of award for the same was issued to JSPL on May 8, 2019 by the RVNL.
This order is indicative of JSPL’s strategic commitment to growing its footprint in the domestic Rail segments. It is a great endorsement of JSPL’s products and services, and securing another important rail contract from railways in less than a year is a source of great pride.
JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India’s domestic energy and infrastructure requirement.
09-May-2019
BPCL unveils lucky draw scheme across Jammu: Report
Bharat Petroleum Corporation (BPCL) has reportedly unveiled a lucky draw scheme ‘BPCL aur Kurlon Ke Saath Khushiyon aur Aaram Ki Saugat’ across 107 of its petrol pumps in Jammu.
In the scheme, a customer has to fuel for Rs 250 in case of 2-wheelers and 3-wheelers and for Rs 1000 in case of 4-wheelers to participate in the scheme. A customer can also purchase lubricants worth Rs 250 which shall make him eligible to participate in the scheme.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
09-May-2019
JMC Projects India reports 42% rise in Q4 consolidated net profit
JMC Projects (India) has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 42.07% in its net profit at Rs 48.70 crore for the quarter ended March 31, 2019 as compared to Rs 34.28 crore for the same quarter in the previous year. Total income of the company increased by 29.78% at Rs 943.48 crore for quarter under review as compared to Rs 726.96 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the company has posted a rise of 33.93% in its net profit at Rs 142.13 crore as compared to Rs 106.12 crore for the previous year. Total income of company increased 18.19% at Rs 3,277.65 crore for year under review as compared to Rs 2,773.26 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted around 3-fold jump in its net profit at Rs 76.64 crore as compared to Rs 26.85 crore for the previous year. Total income of company increased by 18.17% at Rs 3,433.56 crore for year under review as compared to Rs 2,905.72 crore for year ended March 31, 2018.
09-May-2019
SBI reopens 84 branches in and around Bhubaneswar: Report
State Bank of India (SBI) has reportedly reopened 84 branches in and around Bhubaneswar after Fani Cyclone, even though restoration of electricity connection was yet to be completed.
As many as 23 ATMs are functioning in the capital city for convenience of the customers and efforts are on to reopen more branches and ATMs as soon as possible.
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.
09-May-2019
E.I.D. Parry reports 5-fold jump in Q4 consolidated net profit
E.I.D. Parry (India) has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 5.50% in its net profit at Rs 129.18 crore for the quarter under review as compared to Rs 122.44 crore for the same quarter in the previous year. Total income of the company increased by 30.85% at Rs 647.91 crore for Q4FY19 as compared Rs 495.16 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 201.72 crore for the quarter under review as compared to Rs 40.48 crore for the same quarter in the previous year. Total income of the company increased by 8.67% at Rs 3,671.40 crore for Q4FY19 as compared Rs 3,378.43 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 61.50% in its net profit at Rs 163.13 crore as compared to Rs 101.01 crore for the previous year. However, total income of the company marginally decreased by 4.18% at Rs 2,046.44 crore for year under review as compared to Rs 2,135.67 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 15.42% in its net profit at Rs 437.65 crore as compared to Rs 517.43 crore for the previous year. However, total income of the company increased by 5.81% at Rs 16,517.82 crore for year under review as compared to Rs 15,610.99 crore for year ended March 31, 2018.
09-May-2019
Emami Papers gets sanction of Rs 130 crore term loan from ICICI Bank
Emami Papers has received sanction of Term Loan of Rs 130 crore from ICICI Bank, Kolkata. The company has also received sanction of enhancement of working capital limit from Rs 51 crore to Rs 60 crore by DBS Bank India. The Board of Directors of the Company at its meeting held on May 08, 2019 has approved the same.
Emami Paper is a part of Emami Group which possesses diverse business interests in FMCG, edible oil, paper, writing instruments, healthcare, retail departmental stores and real estate. The Company specializes in the manufacture of newsprint, writing and printing paper and Multilayer Coated Board.
09-May-2019
Glenmark reports positive results from Phase 3 study of Ryaltris
Glenmark Pharmaceuticals has reported positive results from a Phase 3 study of Ryaltris, an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis (SAR). The study in patients aged 6 to under 12 years met its primary endpoint in achieving clinically meaningful and statistically significant change from baseline in average morning and evening Reflective Total Nasal Symptom Score (rTNSS) compared to placebo.
Ryaltris (olopatadine hydrochloride (665 mcg) and mometasone furoate (25 mcg)), also known as GSP 301 Nasal Spray, has been conditionally accepted by the FDA as the brand name.
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).
09-May-2019
Titan Company reports 14% rise in Q4 consolidated net profit
Titan Company has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a marginally rise of 4.42% in its net profit at Rs 294.58 crore for the quarter under review as compared to Rs 282.12 crore for the same quarter in the previous year. Total income of the company increased by 20.08% at Rs 4,727.18 crore for Q4FY19 as compared Rs 3,936.77 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 14.42% in its net profit at Rs 348.30 crore for the quarter under review as compared to Rs 304.41 crore for the same quarter in the previous year. Total income of the company increased by 19.86% at Rs 4,945.06 crore for Q4FY19 as compared Rs 4,125.69 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 18.19% in its net profit at Rs 1374.36 crore as compared to Rs 1162.87 crore for the previous year. Total income of the company increased by 22.27% at Rs 19,248.47 crore for year under review as compared to Rs 15,742.25 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 26.02% in its net profit at Rs 1,388.65 crore as compared to Rs 1,101.91 crore for the previous year. Total income of the company increased by 22.88% at Rs 19,961.46 crore for year under review as compared to Rs 16,244.81 crore for year ended March 31, 2018.
09-May-2019
Dish TV India setting up free service camps in Odisha to restore DTH connectivity
Dish TV India is setting up free service camps in the state of Odisha to restore DTH connectivity. The company is helping its customers and lending support to cyclone hit Odisha. Under the free service camp, DishTV and D2H technicians will repair and restore the damaged set-top-box and outdoor units.
Dish TV is India’s largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.
09-May-2019
Dhanlaxmi Bank turns black in Q4
Dhanlaxmi Bank has reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported a net profit of Rs 27.61crore for the quarter ended March 31, 2019, against net loss of Rs 17.16 crore for the same quarter in the previous year. However, total income of the Bank decreased by 2.60% at Rs 268.97 crore for the quarter under review as compared Rs 276.14 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the Bank has posted a net profit of Rs 11.67 crore against net loss of Rs 24.87 crore for the same period in the previous year. However, total income of Bank decreased 8.21% at Rs 1,024.22 crore for year under review as compared to Rs 1,115.79 crore for the period ended March 31, 2018.
09-May-2019
Bharat Financial Inclusion completes first direct assignment transaction of Rs 1,107.41 crore in FY20
Bharat Financial Inclusion has assigned a pool of receivables of an aggregate value of Rs 1,107.41 crore to one of the largest private sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the first Direct Assignment transaction in FY20.
Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company’s mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
09-May-2019
Adani Green Energy planning to raise funds through various means
Adani Green Energy is planning to raise funds by issue of Equity Shares / Convertible Bonds through Qualified Institutional Placement (QIP) / Global Depositary Receipt (GDR) / American depositary receipt (ADR) / Foreign currency convertible bonds (FCCBs) / Foreign Currency Exchangeable Bonds (FCEBs) / Convertible Securities. The Board of Directors of the Company at its meeting to be held on May 15, 2019 to consider the same.
Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.
09-May-2019
Mahindra features as India’s most attractive tractor brand
Mahindra tractors, part of the Mahindra Group, have been recognized as ‘India’s Most Attractive Tractor brand’ by Trust Research Advisory (TRA) in the fifth edition of its report, titled ‘India’s Most Attractive Brands’ – India Study 2018. The study is based on TRA’s proprietary ‘Brand Attractiveness Matrix’ which comprises 36 attributes of Brand Attractiveness.
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.
09-May-2019
TVS Motor invests $3.85 million in TagBox
TVS Motor Company has invested $3.85 million in TagBox, a machine learning platform company as part of its Series A funding round. The company’s investment in Tagbox is part of the initial set of investments, being made in strategically relevant digital startups.
TagBox is planning to use the funds to strengthen product innovation and R&D, while expanding its global footprint.
TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.
09-May-2019
JK Paper to raise funds worth Rs 300 crore via NCDs
JK Paper has received an approval for issue of Non-Convertible Debentures (NCDs) of up to Rs 300 crore. The Board of the company at their meeting held on May 8, 2019, approved the same.
JK Paper is engaged in paper manufacturing business. The company is India’s largest producer of branded papers is a leading player in the printing and writing segment.
09-May-2019
KEC International to raise Rs 500 crore via NCDs
KEC International has received approval to raise funds through issuance of Non-Convertible Debentures (NCDs) for an amount of upto Rs 500 crore, on private placement basis. The Board of Directors of the Company at its meeting held on May 08, 2019 has approved the same.
KEC International is a global infrastructure EPC major. It has presence in power transmission and distribution, cables, railways, water, renewables and civil.
09-May-2019
GE Shipping delivers ‘Jag Vishnu’ carrier to the buyers
Great Eastern Shipping Company (GE Shipping) has delivered its 1994 built Very Large Gas Carrier ‘Jag Vishnu’ to the buyers. The vessel was contracted for sale in January 2019.
The Company’s current fleet (excluding ‘Jag Vishnu’) stands at 47 vessels, comprising 34 tankers (12 crude carriers, 17 product tankers, 5 LPG carrier) and 13 dry bulk carriers (I Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 11.44 years aggregating 3.85 million dwt.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
09-May-2019
ICICI Securities launches proprietary Portfolio Management Services
ICICI Securities has launched its proprietary Portfolio Management Services (PMS) for its HNI and U-HNI clients. With this, the company has entered into financial products manufacturing space- a new revenue stream for the company- from pure play distribution earlier.
ICICI Securities is an integrated securities firm offering a wide range of services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution.
09-May-2019
CCI approves acquisition of 6.5% stake by General Atlantic Group in PNB Housing Finance
The Competition Commission of India (CCI) has given an approval for the acquisition of 6.5% stake by General Atlantic Group in PNB Housing Finance.
Punjab National Bank (PNB) in March had said that it will sell 6.5% of its stake in PNB Housing Finance to General Atlantic Group. PNB had entered into agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to General Atlantic Group at Rs 850 per share for Rs 925.80 crore.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
09-May-2019
L&T Finance Holdings planning to raise Rs 200 crore on private placement basis
L&T Finance Holdings is planning to raise funds through issuances of Cumulative Compulsorily Redeemable Non-Convertible Preference Shares aggregating up to Rs 200 crore on a private placement basis. The Board of Directors of the Company at its meeting to be held on May 11, 2019 to consider the same.
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.
09-May-2019
L&T buys shares worth Rs 368 crore of Mindtree
Larsen & Toubro (L&T) has bought shares worth about Rs 368 crore of Mindtree through open market transactions. The company has bought over 37.53 lakh shares or 2.28 percent stake of worth Rs 367.8 crore, with the average price being Rs 979.96 per scrip.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.
08-May-2019
KEC bags new orders for worth Rs 1,233 crore
KEC International has secured orders of Rs 1,233 crore across its various businesses. The company’s Transmission & Distribution (T&D) business has secured turnkey orders of Rs 650 crore across India, Malaysia, Zambia, Nepal and the Americas and the railway business has secured fresh and change orders for composite and overhead electrification works aggregating to Rs 410 crore in India.
Further, the civil business has secured fresh and change orders for construction of Rs 141 crore in India and the cables business has secured orders of Rs 32 crore for various types of Cables/ Cabling works.
KEC International is a global infrastructure EPC major. It has presence in power transmission and distribution, cables, railways, water, renewables and civil.
08-May-2019
Lupin gets more time from government to complete project at Indore SEZ
The government has approved a proposal of Lupin to take more time for completion of its project at Indore special economic zone (SEZ) with proposed investment of Rs 205.69 crore. The decision to give more time was taken by the Board of Approval (BoA) in its meeting held on April 22.
BoA is an inter-ministerial body, headed by the Commerce Secretary. It is the highest decision-making authority of SEZs.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
08-May-2019
Star Cement reports 16% fall in Q4 consolidated net profit
Star Cement has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a marginal rise of 3.87% in its net profit at Rs 63.37 crore for the quarter ended March 31, 2019 as compared to Rs 61.01 crore for the same quarter in the previous year. Total income of the company increased by 6.90% at Rs 504.24 crore for quarter under review as compared to Rs 471.69 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported fall of 15.84% in its net profit at Rs 91.59 crore for the quarter ended March 31, 2019 as compared to Rs 108.83 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose marginally by 2.23% at Rs 537.86 crore for quarter under review as compared to Rs 526.15 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 21.40% in its net profit at Rs 255.89 crore as compared to Rs 210.78 crore for the previous year. Total income of company increased 16.62% at Rs 1,734.89 crore for year under review as compared to Rs 1,487.59 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted fall of 9.28% in its net profit at Rs 304.97 crore as compared to Rs 336.18 crore for the previous year. However, total income of company increased by 12.43% at Rs 1836.52 crore for year under review as compared to Rs 1633.49 crore for year ended March 31, 2018.
08-May-2019
Essel Propack reports 17% rise in Q4 consolidated net profit
Essel Propack has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 38.42% in its net profit at Rs 14.89 crore for the quarter ended March 31, 2019 as compared to Rs 24.18 crore for the same quarter in the previous year. Total income of the company decreased marginally by 2.51% at Rs 211.56 crore for quarter under review as compared to Rs 217.00 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 17.31% in its net profit at Rs 53.26 crore for the quarter ended March 31, 2019 as compared to Rs 45.47 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 10.31% at Rs 702.94 crore for quarter under review as compared to Rs 637.26 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a fall of 21.11% in its net profit at Rs 64.04 crore as compared to Rs 81.18 crore for the previous year. Total income of company decreased marginally by 1.21% at Rs 863.71 crore for year under review as compared to Rs 874.29 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 12.16% in its net profit at Rs 195.39 crore as compared to Rs 174.21 crore for the previous year. Total income of company increased by 10.62% at Rs 2,735.44 crore for year under review as compared to Rs 2,472.79 crore for year ended March 31, 2018.
08-May-2019
Coal India’s coal allocation under spot e-auction scheme falls by 38% in FY19
Coal India’s coal allocation under spot e-auction scheme has declined by 37.7 per cent to 34.34 million tonnes in the last fiscal (2018-19). The company had allocated 55.17 million tonnes (MT) of coal in FY 2018.
The company’s coal distribution through e-auction was introduced with a view to provide access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
08-May-2019
Indoco Remedies receives UK-MHRA’s nod for new solid dosages facility in Baddi
Indoco Remedies has received approval from the UK-MHRA (Medicines and Healthcare Products Regulatory Agency) for its new solid dosages manufacturing facility in Baddi, Himachal Pradesh (Baddi III unit). The inspection was held from October 16 to October 18, 2018. The facility is spread over an area of 18000 sqm, with manufacturing capacity of 4.3 billion tablets and 50 million capsules p.a.
This is the first Regulatory inspection for the plant, which was acquired in 2016. The outcome of this inspection is positive and is a testimony that Indoco maintains global quality standards and follows strict GMP guidelines. The facility will cater mainly to the European markets.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.
08-May-2019
Dilip Buildcon’s arm gets financial closure for project in Maharashtra
Dilip Buildcon’s wholly owned subsidiary — Mangalwedha Solapur Highways has received the financial closure letter dated May 7, 2019 from the National Highways Authority of India (NHAI) for the project of four laning of Sangli-Solapur Section of NH-166 from existing Ch.km. 314.969 to Ch. 370.452 of length 56.500 Km in the state of Maharashtra on Hybrid Annuity Mode. The bid project cost is Rs 1141.00 crore and the period of construction is 24 months.
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.
08-May-2019
Dish TV India partners with Vakrangee
Dish TV India has entered into agreement with Vakrangee for distribution of subscription recharge and providing collection services for both its brands – DishTV and d2h. This partnership will help consumers to avail the DTH services of DishTV and d2h brands in the remote areas and increase their reach in the underserved and unserved areas.
Dish TV is India’s largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.
08-May-2019
Biocon retains economic interest in global commercialization of Hulio in-licensed by Mylan
Biocon is retaining economic interest in global commercialization of Hulio, (biosimilar Adalimumab) in-licensed by Mylan.
Following the successful approval and European launch of Hulio, (biosimilar Adalimumab) in-licensed by the company’s partner Mylan from Fujifilm Kyowa Kirin Biologics, the commercialization rights have been extended from Europe to Global Markets. Biocon, under the terms of its global partnership with Mylan for monoclonal antibodies, retains its economic interest in this expanded in-licensing arrangement and will gain a share of profits from Global Markets. Biocon is committed to enable patient access to affordable biosimilars and this partnership accelerates that process.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient’s worldwide.
08-May-2019
Nelcast planning to raise funds
Nelcast is planning to raise funds/issuance of securities through public or private placement including but not limited to qualified institutions placement (QIP) or through any permissible mode. The board of directors of the company at their meeting on May 27, 2019 will consider the same.
Nelcast is India’s largest producer of Ductile Iron Castings and a leading producer of Grey Iron Castings. The products cater to the Global Automotive, Tractor, Construction, Mining, Railways and General Engineering sectors.
08-May-2019
Satin Creditcare Network reports 49% rise in Q4 consolidated net profit
Satin Creditcare Network has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 34.83% in its net profit at Rs 55.47 crore for the quarter under review as compared to Rs 41.14 crore for the same quarter in the previous year. Total income of the company increased by 18.89% at Rs 330.10 crore for Q4FY19 as compared Rs 277.65 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 49.48% in its net profit at Rs 56.46 crore for the quarter under review as compared to Rs 37.77 crore for the same quarter in the previous year. Total income of the company increased by 18.57% at Rs 349.87 crore for Q4FY19 as compared Rs 295.08 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported 2-fold jump in its net profit at Rs 194.94 crore as compared to Rs 82.15 crore for the previous year. Total income of the company increased by 40.57% at Rs 1,373.04 crore for year under review as compared to Rs 976.75 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has reported around 3-fold jump in its net profit at Rs 201.50 crore as compared to Rs 74.80 crore for the previous year. Total income of the company increased by 40.42% at Rs 1,448.04 crore for year under review as compared to Rs 1,031.24 crore for year ended March 31, 2018.
08-May-2019
Ratnamani Metals & Tubes bags new order of Rs 255 crore from Oil & Gas Sector
Ratnamani Metals & Tubes has received new order of Rs 255.15 crore from Oil & Gas Sector. The order is for supplying Coated CS Pipes which is to be completed between September, 2019 to March, 2020.
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.
08-May-2019
Mangalore Refinery partially shuts down refinery complex process units
Mangalore Refinery and Petrochemicals (MRPL) has partially shut down Refinery Complex process units, considering the acute shortage of fresh water in the river Nethravathi, in absence of summer showers, as a force majeure.
MRPL is engaged in the business of refining crude oil. It offers high speed diesel oil, fuel oil and motor spirit. It operates as a subsidiary of Oil and Natural Gas Corporation.
08-May-2019
NTPC helps Central Electricity Supply Utility for restoration work in Odisha
NTPC has provided a manpower strength of 350 to the Central Electricity Supply Utility of Odisha for restoration work in cyclone-affected areas and 1,000 electric poles to quicken this restoration process. NTPC has taken a series of measures to provide relief in the cyclone-affected areas of Odisha, including early restoration of power and setting up of medical camps.
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.
08-May-2019
VIP Industries reports 28% fall in Q4 consolidated net profit
VIP Industries has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a fall of 43.40% in its net profit at Rs 18.36 crore for the quarter ended March 31, 2019 as compared to Rs 32.44 crore for the same quarter in the previous year. However, total income of the company increased by 19.68% at Rs 436.75 crore for quarter under review as compared to Rs 364.93 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported fall of 27.87% in its net profit at Rs 25.28 crore for the quarter ended March 31, 2019 as compared to Rs 35.05 crore for the corresponding quarter in the FY18. However, total consolidated income of the company rose 19.74% at Rs 436.95 crore for quarter under review as compared to Rs 364.91 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 8.64% in its net profit at Rs 128.81 crore as compared to Rs 118.57 crore for the previous year. Total income of company increased 25.74% at Rs 1,793.96 crore for year under review as compared to Rs 1,426.77 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 14.61% in its net profit at Rs 145.27 crore as compared to Rs 126.75 crore for the previous year. Total income of company increased by 25.77% at Rs 1,792.98 crore for year under review as compared to Rs 1,425.65 crore for year ended March 31, 2018.
08-May-2019
NHB gives nod to DHFL to sell entire stake of Aadhar Housing Finance
Dewan Housing Finance Corporation (DHFL) has received an approval from the National Housing Bank (NHB) to sell its entire stake of 9.15% in Aadhar Housing Finance to Blackstone’s arm. The divestment of the company’s stake in Aadhar is expected to be completed shortly.
DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.
08-May-2019
KDDL’s arm raises funds worth Rs 4.99 crore
KDDL’s Material Subsidiary, Ethos has raised funds amounting to Rs 4.99 crore by way of preferential allotment of 171,232 fully paid equity shares of Rs 10 each at a premium of Rs 282 per share to KDDL, holding company.
Post the said allotment, consolidated shareholding of KDDL (directly and indirectly through its subsidiary, Mahen Distribution) in Ethos has increased from 72.53% to 72.73% on fully diluted basis.
KDDL is a diverse company focusing on luxury Retail Watches and precision Engineering. It has established India’s largest retail chain for premium and luxury watches- Ethos and SUMMIT.
08-May-2019
TCS’ Official Race App sees all-time high popularity
Tata Consultancy Services’ (TCS) Official Race App saw all-time high popularity, with over 465,000 downloads and more than 120,000 concurrent users at peak load. The company designed and developed the Official Race App to provide runners and spectators with digital access to all the event information, local points of interest and key features needed to navigate race day, allowing them to embrace the true spirit of one of the world’s most famous running events.
The Official Race app has been praised for its sleek user experience and innovative features and was top of the Apple UK app store on race day. One of the most popular features of the app was the in-built tracking system, connecting runners with their supporters from start to finish, no matter what pace they set. Users this year were able to track an unlimited number of runners, so spectators could follow all their friends, family and favourite celebrities on the interactive course map.
Tata Consultancy Services (TCS) 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.
08-May-2019
NBCC secures total business of Rs 361.91 crore in April
NBCC (India) has secured the total business of Rs 361.91 crore in the month of April, 2019. Earlier, the company had secured the total business of Rs 3,031.70 crore in the month of March, 2019.
NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
08-May-2019
NBCC offers Rs 20 crore to operational creditors
Seeking multiple concessions for acquiring bankrupt realty firm Jaypee Infratech, NBCC has offered to pay Rs 20 crore against over Rs 9,712-crore dues of operational creditors, including the income tax department and Yamuna Expressway development authority YEIDA.
A Committee of Creditors (CoC) is scheduled to meet on May 9, 2019 to discuss the revised offer of NBCC after creditors, including bankers and home buyers, rejected the offer of Mumbai-based Suraksha Realty.
NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
08-May-2019
Dynamatic Technologies’ Aerospace Division converted from DTA to EOU
Dynamatic Technologies’ Aerospace Division located at Bangalore, India has been converted from Domestic Tariff Area (DTA) to an Export Oriented Undertaking (EOU) under the existing Foreign Trade Policy 2015-2020. In this context, the requisite Letter of Permission (LoP) and Green Card has been issued and all registration formalities have been completed with Customs authorities and the first import shipment has been received under the said scheme i.e., EOU.
With this EOU certification, the company is now eligible to avail duty free imports and deemed export benefits to the extent transactions relate to its Aerospace Division.
Dynamatic Technologies is the largest producer of Hydraulic Gear Pumps in Asia and one of the top five worldwide. The company designs and builds highly engineered products for Automotive, Aeronautic, Hydraulic and Security applications.
08-May-2019
Yes Bank acquires eight crore pledged shares of CG Power
Yes Bank has acquired eight crore shares in CG Power and Industrial Solutions which were pledged to it by a borrower. The acquired shares represent 12.79% ownership in the company and will be valued at Rs 292.56 crore as per the Tuesday’s close.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
08-May-2019
Vedanta reports 43% fall in Q4 consolidated net profit
Vedanta has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 99.36% in its net profit at Rs 39 crore for the quarter under review as compared to Rs 6072 crore for the same quarter in the previous year. Total income of the company also decreased by 41.46% at Rs 9,449 crore for Q4FY19 as compared Rs 16,141 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a fall of 43.30% in its net profit at Rs 3218 crore for the quarter under review as compared to Rs 5,675 crore for the same quarter in the previous year. Total income of the company also decreased by 12.09% at Rs 25,096 crore for Q4FY19 as compared Rs 28,547 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a fall of 30.06% in its net profit at Rs 5075 crore as compared to Rs 7256 crore for the previous year. Total income of the company also decreased by 9.56% at Rs 44,796 crore for year under review as compared to Rs 49,533 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 29.17% in its net profit at Rs 9698 crore as compared to Rs 13,692 crore for the previous year. Total income of the company also marginally decreased by 0.06% at Rs 96,066 crore for year under review as compared to Rs 96,128 crore for year ended March 31, 2018.
08-May-2019
Reliance Industries’ telecom arm wins 3 awards at Golden Globe Tigers Award 2019
Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has won 3 awards at Golden Globe Tigers Award 2019. Jio and two of its pioneering initiatives have been recognized for bringing unique and meaningful benefits of digital life to Indians.
Jio was conferred the Market Leadership Award for connecting over 300 million Indians on the world’s largest mobile data network, while JioPhone, India ka Smartphone, was recognized for the Best Mobile Strategy. Further, the Best Campaign – Advertising in Mobile Gaming Environment Award went to Jio Cricket Play Along (JCPA).
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.
08-May-2019
Lemnisk enters into partnership with Infosys Finacle
Lemnisk has entered into partnership with Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, as part of their Finacle FinTech Connect program. Finacle FinTech Connect is an ecosystem innovation initiative that brings together banks, FinTechs, and Finacle. Through the program, Finacle identifies promising FinTech solutions from across the world and co-innovates with them to help accelerate innovations for banks.
With this partnership, Lemnisk and Finacle will offer a joint solution that will enable Financial Marketers to improve customer engagement and conversions for their financial institutions through 1:1 personalization and AI-driven channel orchestration.
Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.
08-May-2019
Aditya Birla Fashion’s menswear brand launches ‘Great Fashion at 999’ campaign
Aditya Birla Fashion and Retail’s menswear brand — Peter England has joined forces with the champions of Chennai Super Kings to celebrate the fashion extravaganza ‘Great Fashion at 999’. The latest campaign highlights the brand’s offering of different styles across categories starting from Rs 999.
This consolidates the brand’s commitment to contemporary, smart, casual style at an attractive price point. The campaign features a new TVC released by the brand starring the maestros of Chennai Super Kings, Dwayne Bravo and Ravindra Jadeja along with Mahendra Singh Dhoni.
Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company’s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.
08-May-2019
Vakrangee enters into alliance with Dish TV
Vakrangee has entered into alliance with Dish TV India for distribution of subscription recharge and providing collection services for both its brands – DishTV and d2h. This alliance will help consumers to avail the DTH services of DishTV and d2h brands in the remote areas and increase their reach in the underserved and unserved areas.
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.
08-May-2019
Natco Pharma’s marketing partner gets USFDA’s nod for Nitroglycerin Sublingual Tablets
Natco Pharma’s marketing partner Alvogen has received the final approval of Abbreviated New Drug Application (ANDA) from the U.S. Food and Drug Administration (USFDA) for Nitroglycerin Sublingual Tablets USP, 0.3 mg, 0.4 mg, and 0.6 mg. Nitroglycerin sublingual tablets are used to treat episodes of angina (chest pain) in people who have coronary artery disease (narrowing of the blood vessels that supply blood to the heart).
Pfizer Pharmaceuticals markets this drug under its brand Nitrostat Sublingual Tablets in the same strengths mentioned above. As per IQVIA data, Nitroglycerin Sublingual Tablets had total annual sales of around $77.3 million in the US market, for the year ending 2018.
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.
08-May-2019
Bajaj Finance reaches out to 18.6 million customers via ‘Bijli on EMI’ campaign
Bajaj Finance has reached out to 18.6 million customers pan India through the ‘Bijli on EMI’ campaign and has been successful in penetrating in tier 1 and tier 2 cities along with the metros. It has received a great response for the ‘AC on EMI and Bijli Bill on EMI’ proposition as customers all over are exploring this unique concept. The brand aims to continue engaging with its customers through various such initiatives on a regular basis to understand their requirements and craft the best suitable offers for them.
Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country.
08-May-2019
BSE reports 16% fall in Q4 consolidated net profit
BSE has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 28.24% in its net profit at Rs 43.85 crore for the quarter under review as compared to Rs 61.11crore for the same quarter in the previous year. Total income of the company decreased by 10.25% at Rs 157.50 crore for Q4FY19 as compared Rs 175.49 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a fall of 16.46% in its net profit at Rs 51.86 crore for the quarter under review as compared to Rs 62.08 crore for the same quarter in the previous year. Total income of the company decreased by 6.79% at Rs 182.08 crore for Q4FY19 as compared Rs 195.34 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a fall of 64.35% in its net profit at Rs 201.05 crore as compared to Rs 563.95 crore for the previous year. Total income of the company decreased by 5.94% at Rs 612.39 crore for year under review as compared to Rs 651.07 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 71.61% in its net profit at Rs 199.28 crore as compared to Rs 701.97 crore for the previous year. Total income of the company decreased by 1.64% at Rs 687.44 crore for year under review as compared to Rs 698.92 crore for year ended March 31, 2018.
08-May-2019
UNAIDS signs agreement with Trigyn Technologies’ arm
UNAIDS has signed a non-exclusive Long-Term Agreement (LTA) with Trigyn Technologies’ wholly owned subsidiary — Trigyn Technologies Inc., for providing Open source IT services such as Drupal/PHP and Django/Python. This LTA will be for two years (May 2021).
Under this LTA, Trigyn Technologies Inc. will provide onsite as well as offsite technical and function resources under fixed Price contracts as well as time and material (T&M) contracts.
Trigyn Technologies is a public multi-national Information Technology firm providing custom software solutions, Managed Services, Staff Augmentation and consulting services to clients in 16 countries across Asia, North America, Europe and Africa.
08-May-2019
DLF wins awards at Golden Globe Tigers Awards 2019
DLF has been honoured with prestigious awards at The Golden Globe Tigers Awards 2019 (For Excellence and Leadership in Real Estate Management) held at Kuala Lumpur, Malaysia on April 24.
DLF won awards in four categories. While DLF backed the Developer of the year- Luxury and Developer of the year – Residential, two of its projects namely King’s Court and The Crest won Luxury Project of the Year awards.
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.
08-May-2019
CEAT reports 16% fall in Q4 consolidated net profit
CEAT has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 8.75% in its net profit at Rs 77.69 crore for the quarter under review as compared to Rs 85.14 crore for the same quarter in the previous year. However, total income of the company marginally increased by 4.78% at Rs 1,749.83 crore for Q4FY19 as compared Rs 1,670.04 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a fall of 16.26% in its net profit at Rs 64.32 crore for the quarter under review as compared to Rs 76.81 crore for the same quarter in the previous year. However, total income of the company increased by 5.79% at Rs 1,791.09 crore for Q4FY19 as compared Rs 1,693.03 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a marginal rise of 3.66% in its net profit at Rs 288.91 crore as compared to Rs 278.72 crore for the previous year. Total income of the company increased by 6.96% at Rs 6,886.60 crore for year under review as compared to Rs 6,438.72 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 7.63% in its net profit at Rs 251.08 crore as compared to Rs 233.29 crore for the previous year. Total income of the company increased by 8.36% at Rs 7,023.51 crore for year under review as compared to Rs 6,481.79 crore for year ended March 31, 2018.
08-May-2019
FDC reports fire incident at its plant in Roha
FDC has reported fire incident occurred at the company’s Plant located at Roha, MIDC Area in state of Maharashtra on May 03, 2019. However the fire was quickly brought under control. Though the production was disrupted for few hours due to said incident, there is no significant impact on the operations of the Company.
While the Company is in the process of ascertaining the damage caused by the fire, the Company has an insurance coverage for this and has accordingly informed the Insurance Company about this incident.
FDC is engaged in manufacture of specialized formulations, and oral rehydration salts (ORS).
08-May-2019
ICICI Bank contributes Rs 10 crore towards Odisha cyclone relief
ICICI Bank has contributed Rs 10 crore to aid the state government and the local authorities in their efforts to provide relief and assistance in the areas affected by cyclone Fani in Odisha.
The major part of this contribution has been extended to the Chief Minister’s Relief Fund. The Bank also contributed at the district level for relief work.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.
08-May-2019
HCL Technologies participates in SAPPHIRE NOW to showcase Smart Logistics
HCL Technologies has participated at SAPPHIRE NOW and ASUG Annual Conference being held May 7- 9, 2019 in Orlando, Florida. The company will showcase a joint demo with Sierra Wireless, a leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), on the Smart Logistics for Inventory Tracking 1.0 Accelerator powered by SAP Leonardo.
This SAP-certified solution integrates with the Sierra Wireless Octave distributed data orchestration platform to deliver a secure, scalable solution that will transform how companies manage inventories of consumable products.
HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.
08-May-2019
DCB Bank aims to double size of balance sheet in next 3-4 years
DCB Bank is aiming to double the size of its balance sheet in the next three-four years. The branch expansion of the Bank has been completed and they have started to give results. Besides, the Bank is focusing on SME, agri, retail, commercial vehicles and small-ticket loans.
DCB Bank is one of the emerging private sector banks in India. The Bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investment.
08-May-2019
ABB reports 13% rise in Q1 net profit
ABB India has reported results for first quarter ended March 31, 2019.
The company has reported 13.37% rise in its net profit at Rs 116.19 crore for the quarter under review as compared to Rs 102.49 crore for the same quarter in the previous year. Total income of the company increased by 17.62% at Rs 1,869.37 crore for Q1 as compared Rs 1,589.27 crore for the corresponding quarter previous year.
ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.’
08-May-2019
SAIL supplying electric poles for restoration work in Odisha
Steel Authority of India (SAIL) is supplying parallel beam electric poles for restoration works in the cyclone-affected areas of Odisha.
The Ministry of Steel has directed SAIL to ensure all-out efforts to meet the requirements of cyclone-hit Odisha.
SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
08-May-2019
Kothari Sugars closes crushing operations at Kattur Sugar Unit
Kothari Sugars & Chemicals has closed its crushing operations at Kattur Sugar Unit on May 06, 2019 for the sugar season 2018-2019.
Earlier, the company had commenced the Sugarcane crushing operations for the season 2018-2019 at its Kattur Sugar unit on December 10, 2018.
Kothari Sugars & Chemicals, the flagship company of HC Kothari Group, was established in the year 1961 with a sugar Mill in Kattur village of Trichy District. Kothari Sugars, the pioneers in manufacturing of sugar, now has two sugar units in Tamil Nadu one at Kattur and another at Sathamangalam village.
07-May-2019
Escorts Agri Machinery Segment reports 20% rise in tractor sales in FY19
Escorts Agri Machinery Segment (EAM) has reported sale of 96,412 tractors in FY19 as compared to 80,417 tractors in FY18, registering rise of 19.9%. The company’s construction equipment sales at 5,544 units in FY19 up by 23.6% as against 4,486 units in the previous fiscal.
Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.
07-May-2019
Escorts reports 8% rise in Q4 net profit
Escorts has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 7.83% in its net profit at Rs 121.35 crore for the quarter under review as compared to Rs 112.54 crore for the same quarter in the previous year. Total income of the company increased by 13.05% at Rs 1,649.00 crore for Q4FY19 as compared Rs 1,458.66 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 40.67% in its net profit at Rs 484.91 crore as compared to Rs 344.72 crore for the previous year. Total income of the company increased by 23.68% at Rs 6,277.21 crore for year under review as compared to Rs 5,075.38 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 37.89% in its net profit at Rs 477.90 crore as compared to Rs 346.59 crore for the previous year. Total income of the company increased by 23.49% at Rs 6,354.42 crore for year under review as compared to Rs 5,145.51 crore for year ended March 31, 2018.
07-May-2019
Ashoka Buildcon’s arm achieves financial closure for Karnataka road project
Ashoka Buildcon’s step down subsidiary– Ashoka Belgaum Khanapur Road has received a letter from National Highways Authority of India for the approval of financial closure for the Hybrid Annuity (HAM) Project.
The project is for construction of four lane of Belgaum Khanapur Section Km 0+000 – Km 30+800 (Design chainage Km 0+000 to Km 30+000) of NH-4A in the State of Karnataka on Hybrid Annuity Mode.
Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.
07-May-2019
Artson Engineering gets LoI from Tata Projects for contract worth Rs 20.32 crore
Artson Engineering has received a Letter of Intent (LoI) from Tata Projects for the contract worth Rs 20.32 crore. The nature of the contract is to supply and manufacturing of 6 Nos. Air Vessels (Total weight – 1320 Metric Tons) under CCOE, PESO approval. The period by which the contract is to be executed is 11 Months from the date of LoA.
Artson Engineering is engaged in pioneering work in developing products and systems in fuel handling and tankage construction activities in refineries, which led the company to become one of the foremost companies in India with specialization in Petroleum Storage and handling systems.
07-May-2019
Vodafone Idea’s promoters increase marginal stake in the company
Vodafone Idea’s promoters have marginally increased stake in the company to 71.57% from 71.33%. The company’s promoters have contributed Rs 17,920 crore to its Rs 25,000 crore Rights Issue compared to their commitment of Rs 18,250 crore. The right issue has oversubscribed around 1.08 times and the public participation was around 1.2 times.
Earlier, the board of directors of the company had cleared the Rs 25,000-crore rights issue at a price of Rs 12.50 per equity share.
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.
07-May-2019
Godrej Agrovet reports around 4-fold jump in Q4 consolidated net profit
Godrej Agrovet has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 13.96% in its net profit at Rs 17.13 crore for the quarter under review as compared to Rs 19.91 crore for the same quarter in the previous year. However, total income of the company increased by 18.27% at Rs 951.90 crore for Q4FY19 as compared Rs 804.82 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported around 4-fold jump in its net profit at Rs 120.68 crore for the quarter under review as compared to Rs 32.01 crore for the same quarter in the previous year. Total income of the company increased by 12.37% at Rs 1,354.57 crore for Q4FY19 as compared Rs 1,205.47 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 8.92% in its net profit at Rs 207.88 crore as compared to Rs 190.86 crore for the previous year. Total income of the company increased by 16.81% at Rs 4,344.60 crore for year under review as compared to Rs 3,719.35 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 39.15% in its net profit at Rs 349.33 crore as compared to Rs 251.04 crore for the previous year. Total income of the company increased by 13.10% at Rs 5,923.85 crore for year under review as compared to Rs 5,237.72 crore for year ended March 31, 2018.
07-May-2019
Alembic Pharma partners with SPH Group & Adia for Chinese market
Alembic Pharmaceuticals has entered into a Joint Venture Agreement (JVA) with SPH SINE Pharmaceutical Laboratories, China (SPH Sine) & Adia (Shanghai) Pharma, China (Adia) to promote and sell pharmaceutical products for the Chinese market. Initially this JV will commercialize products manufactured by Alembic Pharmaceuticals. Subsequently the JV plans to set up a manufacturing facility in China.
The JV will commercialize products in the Chinese market which has an increasing demand for generic drugs. It will initially launch with a portfolio of oral solids and is expected to widen to other areas like injectable, ophthalmology, dermatology & oncology which are being currently developed and manufactured by Alembic.
SPH Sine, Alembic & Adia shall hold 51%, 44% & 5% equity in the JVA. The JVA has standard terms including management functioning, restriction on transfer of shares, non-compete and termination events and consequences.
Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.
07-May-2019
Piramal Enterprises signs MoU with Canada Pension Plan Investment Board
Piramal Enterprises has signed a Memorandum of Understanding (MoU) with Canada Pension Plan Investment Board (CPPIB), a Canadian pension fund, to co-sponsor a renewable energy focused Infrastructure Investment Trust (InvIT).
With an initial corpus of $600 million and the option to scale further, the InvIT would seek to acquire up to 1.5-2GW of stable and cash generating renewables assets on a hold-to-maturity basis, with a firm focus on diversification of both asset type as well as off-taker profile.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
07-May-2019
Eicher Motors’ motorcycle arm recalls around 7,000 units of Bullet, Bullet Electra
Eicher Motors’ motorcycle arm — Royal Enfield has initiated recall of nearly 7,000 units of its Bullet and Bullet Electra models to rectify faulty brake caliper bolt. The company is undertaking a proactive field service action, concerning brake caliper bolt on motorcycles of the two models manufactured between March 20, 2019 and April 30, 2019.
Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.
07-May-2019
Bharat Rasayan raises Rs 20 crore via CP
Bharat Rasayan has raised funds through issue of Commercial Paper (CP) of Rs 20 crore value dated on May 07, 2019, having maturity on August 05, 2019. The rating agency, CARE rating has rated the instrument as ‘A1+’. The Company has appointed HDFC Bank as ‘Issuing & Paying Agent’ for this issuance.
Bharat Rasayan, part of the Bharat Group of companies, is engaged in manufacturing technical grade pesticides, pesticides formulations and intermediates.
07-May-2019
Hester Biosciences posts 30% sales growth in Q4
Hester Biosciences has registered 30% sales growth at Rs 48.83 crore in Q4FY19 as against Rs 37.48 crore in the same period of the previous year. Sales for the FY19 also increased 27% at Rs 171.19 crore as compared to Rs 135.25 crore in FY18.
Hester Biosciences is engaged in the manufacturing of poultry vaccines.
07-May-2019
Tata Motors’ arm initiates sales of locally manufactured Range Rover Velar in India
Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) has initiated sales of locally manufactured Range Rover Velar in the country with prices starting from Rs 72.47 lakh (ex-showroom).
The locally manufactured model is offered in a single trim, R Dynamic-S variant, and is available with both petrol and diesel powertrains.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
07-May-2019
Tata Elxsi displaying digital solutions & services at Video Exchange Asia 2019
Tata Elxsi is displaying digital solutions and services at Video Exchange Asia 2019 in Bangkok, May 07-08, highlighting solutions for Measurable Automation, OTT, Android TV, Content Management System (CMS), IoT, Analytics and Artificial Intelligence.
Tata Elxsi has been at the forefront of integration and implementation of OTT Video solutions for leading operators and entertainment companies around the globe, combining award winning user experience and consumer insights with technology to deliver differentiated viewing experiences.
The showcase at the Tata Elxsi stall includes FalconEye, the industry-leading solution for test automation and multi-screen testing and quality of Experience monitoring.
Also on display is India’s first and only hybrid Android TV set-top box solution that delivers a full bouquet of satellite TV channels and the best of the online world to the TV screen – pre-loaded with Netflix, YouTube, Google Play, games, movies and more.
Tata Elxsi is a global design and technology Services Company and a part of the $100+ billion Tata Group. Headquartered in Bangalore, it works with customers across industries such as automotive, broadcast, healthcare and telecom for product and software development.
07-May-2019
Ramco Systems emerges as leader in NelsonHall NEAT Matrix for Global Payroll Services
Ramco Systems has positioned as leader in NelsonHall’s NEAT Matrix for Next Generation Payroll Services 2019.
The company has been ranked a leader in the NelsonHall Vendor Evaluation & Assessment Tool (NEAT), which analyses the performance of vendors offering next generation payroll services. Assessing the capability of vendors across a range of criteria and business situations, the company emerged in the ‘Leader’ quadrant in three market segments including overall, as well as with a specific focus on multi-country payroll services and in Asia Pacific.
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.
07-May-2019
Kansai Nerolac Paints enters into joint venture agreement with Polygel Industries
Kansai Nerolac Paints has entered into joint venture agreement with Polygel Industries. By virtue of the joint venture agreement, the company and Polygel will establish a joint venture in India, by incorporating a separate company, to which the adhesives, construction chemicals and sealants business of Polygel would be transferred under a separate Business Transfer Agreement.
Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, Automotive Coatings and Performance coatings.
07-May-2019
CTE enters into strategic partnership with OutSystems
Cambridge Technology Enterprises (CTE) has entered into strategic partnership with OutSystems. This partnership will enable Cambridge Technology’s services teams to further enable the success of its current and future customers by integrating OutSystems into its best-in-class mobile application development and DevOps practices.
The company, joining forces with OutSystems, helps its customers to add unparalleled speed, integration, security, scalability, unbreakable deployment, great UX and metrics that matter.
CTE is a leading global technology company transforming organizations into ‘AI-first’ leaders. The company is enabling its customers to create AI solutions that transform their businesses; by helping solve the world’s complex and most interesting business challenges with AI.
07-May-2019
HDFC’s JV launches new DIYMotorClaims service
HDFC ERGO General Insurance Company, a 51:49 joint venture between the Housing Development Finance Corporation (HDFC) and ERGO International AG, has launched the DIYMotorClaims service, a part of the Company’s ‘Jaldi Claim’ services.
This new service will enable customers to file their motor claims virtually for minor damages to their cars/two-wheelers by simply sharing photographs of the damages using HDFC ERGO’s Insurance Portfolio Organiser (IPO) Mobile App.
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.
07-May-2019
G E Shipping gets nod to raise funds up to Rs 1000 crore via NCDs
Great Eastern Shipping Company (G E Shipping) has received an approval for the issue of Non-convertible Debentures (NCDs) up to an amount not exceeding Rs 1000 crore by way of private placement during the year. The Board of Directors of the company at its meeting held on May 06, 2019, approved the same.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
07-May-2019
Jyothy Laboratories reports 11% rise in Q4 net profit
Jyothy Laboratories has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 11.10% in its net profit at Rs 67.05 crore for the quarter under review as compared to Rs 60.35 crore for the same quarter in the previous year. Total income of the company increased by 3.26% at Rs 515.64 crore for Q4FY19 as compared Rs 499.36 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 20.33% in its net profit at Rs 193.17 crore as compared to Rs 160.53 crore for the previous year. Total income of the company increased by 6.48% at Rs 1,796.71 crore for year under review as compared to Rs 1,687.44 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 10.47% in its net profit at Rs 197.60 crore as compared to Rs 178.87 crore for the previous year. Total income of the company increased by 5.05% at Rs 1,841.33 crore for year under review as compared to Rs 1,752.74 crore for year ended March 31, 2018.
07-May-2019
Lupin receives tentative USFDA approval for Fosaprepitant for Injection
Lupin has received tentative approval for its Fosaprepitant for Injection, 150 mg Single-Dose Vial, from the United States Food and Drug Administration (USFDA) to market a generic version of Emend for Injection, 150 mg Single-Dose Vial, of Merck Sharp & Dohme Corp. (Merck).
Lupin’s Fosaprepitant for Injection, 150 mg Single-Dose Vial, is the generic version of Merck’s Emend for Injection, 150 mg Single-Dose Vial.
Fosaprepitant for Injection, 150 mg Single-Dose Vial, had annual sales of approximately $312 million in the US (IQVIA MAT March 2019).
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
07-May-2019
Gujarat Gas reports 77% rise in Q4 net profit
Gujarat Gas has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 76.71% in its net profit at Rs 116.54 crore for the quarter under review as compared to Rs 65.95 crore for the same quarter in the previous year. Total income of the company increased by 10.86% at Rs 1,981.91 crore for Q4FY19 as compared Rs 1,787.73 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 43.13% in its net profit at Rs 417.03 crore as compared to Rs 291.36 crore for the previous year. Total income of the company increased by 26.65% at Rs 8,073.76 crore for year under review as compared to Rs 6,375.03 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 43.09% in its net profit at Rs 418.45 crore as compared to Rs 292.44 crore for the previous year. Total income of the company increased by 26.65% at Rs 8,074.04 crore for year under review as compared to Rs 6,375.21 crore for year ended March 31, 2018.
07-May-2019
United Bank of India planning to raise equity capital up to Rs 1500 crore
United Bank of India is planning to raise equity capital up to Rs 1500 crore in one or more tranches during current the financial year by way of Qualified Institutions Placement, Public Issue, Rights Issue or such other capital issues(s) under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The meeting of the Board of Directors of the Bank will be held on May 13, 2019, to consider the same.
United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.
07-May-2019
Olympic Cards pays term loan EMI to ICICI Bank
Olympic Cards has paid term loan EMI amount of Rs 0.1564 crore (Principal- Rs 0.1082 crore and Interest Rs 0.0482 crore) to the Loan Lender ICICI Bank and there is no default amount payable to the above Bank as on date.
Olympic Cards is the Manufacturer and Supplier of Invitation cards for all occasions.
07-May-2019
Vishnu Chemicals to incorporate step-down subsidiary
Vishnu Chemicals has decided to incorporate step-down subsidiary viz. Vishnu Renewable Energy. The Board of Directors of the company at its meeting held on May 06, 2019, has taken note of the same.
Vishnu Chemicals is engaged in manufacturing chrome chemicals like sodium dichromate, potassium dichromate, basic chromium sulphate and yellow sodium sulphate.
07-May-2019
Mindtree launches QuikDeploy to accelerate SAP S/4HANA transitions
Mindtree has launched QuikDeploy, an IP-driven approach to helping customers maximize their use of the SAP Solution Manager. This flexible industry accelerator is tailor-made to rapidly deploy SAP S/4HANA into Microsoft Azure cloud.
The company is introducing QuikDeploy to ensure enterprises kick-start both their SAP S/4HANA journey and cloud journey using the Azure platform. Serving as the central command console within an organization’s SAP landscape, QuikDeploy simplifies and accelerates the deployment of SAP Solution Manager.
Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.
07-May-2019
The Great Eastern Shipping turns black in Q4
The Great Eastern Shipping Company has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a net profit of Rs 135.61 crore for the quarter under review against net loss of Rs 13.44 crore for the same quarter in the previous year. Total income of the company increased by 23.05% at Rs 785.01 crore for Q4FY19 as compared Rs 637.94 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a net profit of Rs 148.47 crore for the quarter under review against net loss of Rs 419.10 crore for the same quarter in the previous year. Total income of the company increased by 24.27% at Rs 1,026.99 crore for Q4FY19 as compared Rs 826.42 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a net loss of Rs 19.47 crore against net profit of Rs 160.19 crore for the previous year. However, total income of the company increased by 32.83% at Rs 2,913.41 crore for year under review as compared to Rs 2,193.29 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 21.45 crore against net loss of Rs 210.49 crore for the previous year. However, total income of the company increased by 21.95% at Rs 3,829.89 crore for year under review as compared to Rs 3,140.57 crore for year ended March 31, 2018.
07-May-2019
Bharti Airtel, Hughes Communications India to combine VSAT operations
Bharti Airtel and Hughes Communications India have decided to combine their VSAT (Very Small Aperture Terminal) satellite communications operations in India. The transaction is subject to approvals by relevant authorities.
Hughes will have majority ownership in the combined entity, while Airtel will have a significant shareholding.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
07-May-2019
Yes Bank slips to 10th position in league table for most valued banks
Yes Bank has been ranked 10th most valued bank from 7th earlier, in the league table for most-valued banks. Punjab National Bank (PNB) and Bank of Baroda (BoB) have overtaken Yes Bank.
HDFC Bank is the most valued Indian bank with a Market capitalization of Rs 6.45 trillion, followed by State Bank of India and Kotak Mahindra Bank.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
07-May-2019
Seshasayee Paper submits proposal for Servalakshmi Papers
Seshasayee Paper and Boards has submitted a Proposed Draft Composite Scheme of Compromise / Arrangement with the Creditors and Members of Servalakshmi Papers (SPL) (Company under Liquidation) and Scheme for Amalgamation with Seshasayee Paper and Boards.
The Scheme is being submitted by the Company to the Liquidator of SPL only as a proposed draft scheme, in response to the invitation by liquidator, and currently no agreement has been finalised to acquire SPL.
Seshasayee Paper & Boards operates an integrated pulp, paper and paper board Mill. The product range of the company includes MF I and MF II, MG, Yankee and MF3.
07-May-2019
Hero MotoCorp unveils buyback scheme for scooters
Hero MotoCorp has unveiled a buyback scheme for scooters with plans to cover top-10 markets of India going forward.
The company had launched the scheme BuySurance in Pune, a big scooter market, in March to test the market proposition. It has now also introduced the scheme in two more markets -Delhi and Bengaluru.
Under the scheme, every customer buying new Hero Scooter will receive a guaranteed buyback certificate by used two-wheeler brand CREDR with fixed buyback value matrix in interval of six months over next five years.
Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.
07-May-2019
Tata Motors’ arm testing new ‘Smart Wallet’ technology
Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) is testing new ‘Smart Wallet’ technology, which would enable future drivers of the luxury cars earn cryptocurrency and make driving related payments on the move. Smart Wallet will remove the need for drivers to hunt for loose change or sign up to multiple accounts to pay for a variety of everyday services.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
07-May-2019
Max Financial Services’ JV to mark 6th of every month as Protection Day
Max Life Insurance, one of the leading life insurers in India, is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company will dedicate 6th day of every calendar month as ‘Protection Day’ towards driving awareness around the concept of financial protection.
The decision come closely along the lines of the Company’s recently launched Max Life India Protection Quotient survey conducted in association with Kantar IMRB which essentially indicated that the degree to which the Indians feel protected from financial uncertainties was abysmally low at 35.
Max Financial Services, a part of the $2 billion Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.
07-May-2019
LTI unveils Intelligent Enterprise Solutions for SAP S/4HANA
Larsen & Toubro Infotech (LTI) has unveiled solutions that aim to help its customers accelerate their SAP S/4HANA migration and save as much as 20-30% effort, depending on the migration scenarios with the company’s Mosaic Profiler.
The company has developed several domain based solutions: Intelligent Construction Enterprise (ICE), Preconfigured industry solution for Professional Services, as well as an Augmented Reality (AR) based solution for Guided Plant Maintenance. The company’s other solutions include SAP Leonardo based Intelligent Asset Management, LTI’s Mosaic Automation tools leveraging Central Finance Implementation, LTI Mosaic Automation Platform for SAP S/4HANA, Blockchain based Supply Chain, and Financial Compliance solution.
As a part of its ICE offering, the company features ‘Project Pay-Chain’ to address one critical need of industries with project-based services – managing payment applications and cash flows effectively. The solution is a result of comprehensive co-innovation initiative between LTI and SAP to create differentiated solutions for construction and other project based industries. Project Pay-Chain provides a simplified and automated process for managing the application and payment process designed specifically to support the complexities of the construction industry, including retention, joint checks, and lien waivers.
LTI is a global technology consulting and digital solutions company helping more than 300 clients succeed in a converging world.
07-May-2019
PNC Infratech to sell 35% stake in Ghaziabad Aligarh Expressway
PNC Infratech has executed a Share Purchase Agreement (SPA) for sale of 35% stake held by the Company along with its wholly owned subsidiary – PNC Infra Holdings in Ghaziabad Aligarh Expressway, the Concessionaire (SPV) for ‘Four Laning of Ghaziabad – Aligarh Section of NH-91 BOT (Toll) Project in Uttar Pradesh along with the other partners of SPV, with Cube Highways and Infrastructure Pte.
Total Enterprise Value (EV) of the sale is Rs 18.34 billion subject to adjustments of debt and other capital and operational costs at the Closing Date. The Company’s share of 35% equity translates to sale consideration of Rs 2.7 billion. In addition to this the Company would be able to recover its outstanding EPC receivables from SPV along with certain Closing adjustments, which would likely to result into total cash inflow of over Rs 3.0 billion for the Company.
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
07-May-2019
IIFL Holdings planning to raise funds via NCDs
IIFL Holdings is planning to raise funds through issuance of Non-convertible Debentures (NCDs) on private placement basis as Company’s routine fund raising plan. The Board of Directors of the Company at its meeting to be held on May 14, 2019 to consider the same.
IIFL Holdings is one of India’s leading, diversified financial services companies.
07-May-2019
ABG Shipyard initiates liquidation process under IBC
ABG Shipyard has initiated liquidation process under the Insolvency and Bankruptcy Code. The company is undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC, 2016) as per the National Company Law Tribunal (NCLT) orders.
ABG Shipyard is engaged in the business of carrying shipbuilding and ship repair business. The Company has emerged as the largest private sector shipbuilding yard in India with satisfied customer base all around the world.
07-May-2019
M&M’s XUV300 crosses 26,000 bookings
Mahindra & Mahindra’s (M&M) stylish & thrilling new SUV, the XUV300 has crossed 26,000 bookings, since its launch in February this year. In April, the XUV300 also became the second-highest selling sub-4 metre SUV brand in India.
The XUV300’s proposition of thrilling, best-in-segment performance with first-in-segment safety & hi-tech features, has resonated well with consumers across the country, especially across the metros and urban markets. Among its 3 variants, the top end variant has seen the maximum demand and accounts for 70% of the overall bookings. The petrol variant, equipped with a 1.2 L turbo-petrol that offers best-in-segment performance, continues to gain traction and now accounts for a substantial share of XUV300 sales.
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.
07-May-2019
Astec LifeSciences to withdraw scheme of amalgamation with Godrej Agrovet
Astec LifeSciences has received approval for withdrawal of the Scheme of Amalgamation of the Company with Godrej Agrovet. The company’s board has reviewed the proposal and decided not to pursue the Scheme further at this time, on the basis of its interaction with multiple stakeholders across the Company and Godrej Agrovet.
Earlier, the company had entered into draft Scheme of Amalgamation of the Company with Godrej Agrovet and their respective Shareholders.
Astec Lifesciences has over two decades of experience in the chemical industry. Their product range includes Tebuconazole, Hexaconazole, Propiconazole, Metalaxyl, Pentanediol, Dicap, Fluoro & phenacyl chloride.
07-May-2019
Wockhardt’s Q4 consolidated net loss narrows to Rs 14 crore
Wockhardt has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a net loss of Rs 33.52 crore for the quarter ended March 31, 2019 against net profit of Rs 172.44 crore for the same quarter in the previous year. Total income of the company decreased around 48.50% to Rs 475.79 crore for quarter under review as compared to Rs 923.90 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported a net loss of 13.90 crore for the quarter ended March 31, 2019 as compared to a net loss of Rs 152.91 crore for the corresponding quarter in the FY18. Total consolidated income of the company decreased by 2.50% at Rs 984.55 crore for quarter under review as compared to Rs 1,009.85 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a net loss of Rs 81.89 crore against net profit of Rs 68.66 crore for the previous year. Total income of company decreased by 13.93% at Rs 2,180.95 crore for year under review as compared to Rs 2,534.14 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 216.66 crore as compared to net loss of Rs 666.85 crore for the previous year. However, total income of company increased marginally by 3.01% at Rs 4,179.40 crore for year under review as compared to Rs 4,057.13 crore for year ended March 31, 2018.
07-May-2019
Jonjua Overseas bags order in Cameroon
SOFIGES Real Estate, SA – a Real Estate Development Company based in Douala, Cameroon has retained Jonjua Overseas to locate a technical partner for their Mega Real Estate Projects in Cameroon and Central African Republic.
Jonjua Overseas is an ITeS service provider serving the global market from Mohali, Punjab since 1993.
07-May-2019
Unichem gets USFDA’s nod for Cetirizine Hydrochloride, Pseudoephedrine Hydrochloride Tablets
Unichem Laboratories has received tentative ANDA approval from the United States Food and Drug Administration (USFDA) for Unichem’s Cetirizine Hydrochloride and Pseudoephedrine Hydrochloride Extended-Release Tablets USP, 5 mg/120 mg (OTC) to market a generic version of Johnson and Johnson Consumer Inc’s Zyrtec-D 12 Hour (Cetirizine Hydrochloride/Pseudoephedrine Hydrochloride, 5mg/120 mg) Extended Tablets.
The product will be commercialized from Unichem’s Goa Plant on receipt of final approval.
Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world.
07-May-2019
Dhanuka Agritech launches three new products
Dhanuka Agritech has launched three new products. The company has launched CHEMPA which is an effective, pre and post-emergence herbicide which controls broad leaf weeds, sedges and grassy weeds in paddy. The company launched APPLY, a new technology based systemic and translaminar insecticide to control brown plant hopper.
Further, the company also launched LARGO, which is world’s best thripicide, offers excellent control of important insect pests of the Cotton crops. All three products have been launched in Domestic Market only.
Dhanuka Agritech is the umbrella company for the business of agro-chemicals, fertilizers, and seeds of Dhanuka Group.
07-May-2019
Bharti Airtel reports 37% rise in Q4 consolidated net profit
Bharti Airtel has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a net loss of Rs 36.60 crore for the quarter under review against net loss of Rs 760.20 crore for the same quarter in the previous year. However, total income of the company increased marginally by 0.60% at Rs 12,595.50 crore for Q4FY19 as compared Rs 12,520.90 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 37.49% in its net profit at Rs 576.10 crore for the quarter under review as compared to Rs 419.00 crore for the same quarter in the previous year. Total income of the company increased by 6.10% at Rs 20,656.80 crore for Q4FY19 as compared Rs 19,469.80 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company net loss of Rs 1829.00 crore against net profit of Rs 79.20 crore for the previous year. Total income of the company decreased by 7.50% at Rs 49,858.70 crore for year under review as compared to Rs 53,898.60 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 22.72% in its net profit at Rs 1687.50 crore as compared to Rs 2183.50 crore for the previous year. Total income of the company decreased by 2.19% at Rs 81,071.40 crore for year under review as compared to Rs 82,887.60 crore for year ended March 31, 2018.
07-May-2019
Bharti Airtel gets nod for composite scheme of arrangement
Bharti Airtel has received approval for composite scheme of arrangement between Bharti Airtel, Bharti Airtel Services, Hughes Communications India, and HCIL Comtel and their respective shareholders and creditors. The Board of Directors of the Company at its meeting held on May 06, 2019 has approved the same.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
07-May-2019
Lemon Tree Hotels opens new hotel in Rajasthan
Lemon Tree Hotels has opened hotel under brand name ‘Red Fox Hotel’ which is located at Alwar, in the state of Rajasthan. This is the company’s second managed hotel in Alwar, Rajasthan. The Hotel has 49 rooms with a conference facility, multi cuisine coffee shop, bar, fitness center etc.
With opening of this Hotel, the company presently operate 56 Hotels including managed properties across 33 cities in India.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.
07-May-2019
Capgemini inks alliance partner agreement with Majesco
Capgemini has signed an alliance partner agreement with Majesco. In the agreement, Capgemini will bring its extensive insurance innovation, customer service and digital capabilities to implementations of the Majesco Life & Annuity (L&A) and Group Core Suite for insurance carriers in the life, annuity, group, worksite, and voluntary benefits market, helping them to achieve speed to value.
Capgemini already has implementations underway of the Majesco L&A and Group Core Suite, which includes policy, billing, and claims modules. Capgemini is teaming with Majesco to provide business and systems transformation capabilities along with implementation, integration, conversion, and testing services to group and individual insurers.
Majesco enables insurance business transformation for approximately 150 insurance customers by providing solutions which include software, consulting and services.
07-May-2019
VST Tillers Tractors reports sales of 432 tractors in April
VST Tillers Tractors has reported sales of Power Tillers and Tractors for the month of April 2019. The company has sold 289 Power Tillers, while the Tractors sales of the company stood at 432 units for the month ended April 2019.
VST Tillers Tractors was incorporated in technical collaboration and joint venture with Mitsubishi Heavy Industries and Mitsubishi Corporation, Japan for the manufacture of Power Tillers and Diesel Engines.
07-May-2019
KPI Global Infrastructure commissions 2.2 MW solar power project in Bharuch
KPI Global Infrastructure has successfully installed and commissioned 2.2 MW solar power project with effect from April 30, 2019 at Village-Sudi, Ta-Bharuch, and district Bharuch under ‘Independent Power Producer (IPP)’ category for United Phosphorous, Vapi for which GEDA has issued Certificate of Commissioning.
KPI Global Infrastructure is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
07-May-2019
CG Power terminates agreement with Ganz Villamossagi Zrt and Alester Holdings
CG Power and Industrial Solutions has terminated agreement with Ganz Villamossagi Zrt and Alester Holdings with effect from April 30, 2019, as certain conditions subsequent agreed to be performed between the parties have not been met.
Earlier, the company had executed of Business Transfer Agreement and Share Sale and Purchase Agreement with Ganz Villamossagi Zrt and Alester Holdings with respect of the sale of Assets and Shares of the Company’s businesses in Hungary (excluding switchgear business) owned by the Company’s subsidiary, CG Electric Systems Hungary Zrt at an Enterprise Value of Euro 38 million.
Avantha Group Company CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.
07-May-2019
L&T buys stake in Mindtree via open market
Larsen & Toubro (L&T) has bought shares worth about Rs 113 crore of Mindtree through open market transactions. Post this transaction, the company is in fray to buy up to 46 per cent more stake in Mindtree.
The company had purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through block deal for about Rs 3,210 crore.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.
07-May-2019
Indian Overseas Bank plans to raise Rs 850 crore in FY20
Indian Overseas Bank is planning to raise about Rs 850 crore during the current financial year (FY20) through sale of non-core assets, to augment capital. The bank is currently exploring its options for stake sale in joint ventures to augment resources which could help raise over Rs 445 crore.
As part of the strategy to unlock assets to raise capital, the bank has identified 32 properties for sale including prime properties in Singapore and Hongkong aggregating to Rs 900 crore.
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.
07-May-2019
Wipro, R3 build blockchain-based solution prototype to power digital currency in Thailand
Wipro in partnership with R3, the enterprise blockchain software firm, has developed a blockchain-based solution prototype to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand.
Developed as part of the first phase of Project Inthanon, the solution will enable de-centralized interbank real-time gross settlement (RTGS) using wholesale Central Bank Digital Currency (CBDC) to prove that the technology can perform key functionalities of payment and enhance efficiency.
As part of the Phase I of Project Inthanon, Wipro and R3 have co-developed a blockchain solution prototype on Corda, R3’s open source blockchain platform, for the consortium. The solution automates the banks’ liquidity provision for resolving payment deadlocks through Liquidity Saving Mechanisms (LSM). The prototype has successfully demonstrated that DLT can significantly enhance payment efficiency by enabling 24/7 interbank settlements.
Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.
07-May-2019
Wipro Gallagher Solutions wins HousingWire Tech100 award
Wipro’s loan origination software solutions — Wipro Gallagher Solutions’ (WGS) NetOxygen LOS has been named a winner of HousingWire’s sixth annual HW Tech100 awards. This award recognizes the most innovative technology companies in the US housing economy, across the real estate and mortgage industries.
The number of applicants for the 2019 awards has increased from previous years, and the final list of 100 companies demonstrates the depth and range of technology solutions that are available for those operating in the housing economy. The awards honor tried-and-true technology solutions and also recognize startups that have made a notable impact in the mortgage industry.
Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.
07-May-2019
Titan Company planning to open 14 outlets of Taneira
Titan Company is planning to open 14 outlets of ‘Taneira’, the group’s premium sarees and ethnic wear category during FY20 taking the total to 18 by this year end. The company is expected to grow at 20% during the current fiscal.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
06-May-2019
Zensar Technologies to showcase ‘Zero-Touch’ Multi-Cloud Powered by Nutanix
Zensar Technologies will showcase the benefits of its Multi-Cloud solutions powered by Nutanix at Nutanix’s annual at. NEXT Americas conference. Zensar is a partner in the Nutanix Partner Network Global Systems Integrator Program and focuses its partnership on creating next generation multi-cloud solutions for organizations who are looking for definite business outcomes.
Nutanix’s enterprise cloud solutions are now integrated with Zensar’s The Vinci Smart Autonomics Platform that delivers a powerful ‘Zero-Touch’ Multi-Cloud solution. Visitors to Zensar’s booth at. NEXT will have the opportunity to see how its offering is designed to empower enterprises across various industry verticals to navigate with agility, higher flexibility and more effective cost management.
Zensar Technologies operates as a software service company. It is engaged in software development, networking, e-commerce, and systems integration services. It also provides consulting, collaboration services and business process outsourcing services.
06-May-2019
Kesar Enterprises closes crushing operations for sugar season 2018-19
Kesar Enterprises has closed its crushing operations for the sugar season 2018-19 at its sugar factory at Baheri, Uttar Pradesh.
Kesar Enterprises (KEL) is an India-based company, engaged in the manufacture, marketing and sale of variety of products.
06-May-2019
Mahindra CIE Automotive reports 17% rise in Q1 consolidated net profit
Mahindra CIE Automotive has reported results for first quarter ended March 31, 2019.
The company has reported 21.67% rise in its net profit at Rs 46.93 crore for the quarter under review as compared to Rs 38.57 crore for the same quarter in the previous year. Total income of the company increased by 6.36% at Rs 657.38 crore for March quarter as compared Rs 618.07 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 16.67% in its net profit at Rs 153.72 crore for the quarter under review as compared to Rs 131.76 crore for the same quarter in the previous year. Total income of the company increased by 9.37% at Rs 2,189.23 crore for Q1 as compared Rs 2,001.68 crore for the corresponding quarter previous year.
06-May-2019
Marico reports over 2-fold jump in Q4 consolidated net profit
Marico has reported results for fourth quarter and year ended March 31, 2019.
The company has reported around 4-fold jump in its net profit at Rs 430 crore for the quarter under review as compared to Rs 120 crore for the same quarter in the previous year. Total income of the company increased by 6.28% at Rs 1,387 crore for Q4FY19 as compared Rs 1,305 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 405 crore for the quarter under review as compared to Rs 183 crore for the same quarter in the previous year. Total income of the company increased by 8.92% at Rs 1,637 crore for Q4FY19 as compared Rs 1,503 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 57.66% in its net profit at Rs 1132 crore as compared to Rs 718 crore for the previous year. Total income of the company increased by 16.17% at Rs 6,272 crore for year under review as compared to Rs 5,399 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 37.24% in its net profit at Rs 1135 crore as compared to Rs 827 crore for the previous year. Total income of the company increased by 15.88% at Rs 7,437 crore for year under review as compared to Rs 6,418 crore for year ended March 31, 2018.
06-May-2019
TCS BaNCS Digital enables omni-channel customer experience at Bank Yahav
Bank Yahav in Israel has successfully deployed Tata Consultancy Services’ (TCS) core banking software suite — TCS BaNCS Digital Platform for Banking and Trading to deliver a consistently superior customer experience across channels.
The omni-channel experience enabled by TCS BaNCS Digital positions Bank Yahav as a market leader in customer engagement and experience. The rollout of this brand new digital experience layer follows the end-to-end core system transformation that the bank undertook earlier, with the TCS BaNCS Banking and Securities platforms.
Tata Consultancy Services (TCS) 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.
06-May-2019
ICICI Bank reports marginal rise in Q4 consolidated net profit
ICICI Bank has reported results for fourth quarter and year ended March 31, 2019.
The Bank has reported a fall of 4.99% in its net profit at Rs 969.06 crore for the quarter under review as compared to Rs 1020.00 crore for the same quarter in the previous year. However, total income of the Bank marginally increased by 4.87% at Rs 20,913.82 crore for Q4FY19 as compared Rs 19,942.97 crore for the corresponding quarter previous year.
On the consolidated basis, the Bank has reported a marginal rise of 2.49% in its net profit at Rs 1170.36 crore for the quarter under review as compared to Rs 1141.93 crore for the same quarter in the previous year. Total income of the Bank increased by 8.96% at Rs 36,784.25 crore for Q4FY19 as compared Rs 33,760.07 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the Bank has reported a fall of 50.37% in its net profit at Rs 3363.30 crore as compared to Rs 6777.42 crore for the previous year. However, total income of the Bank increased by 7.64% at Rs 77,913.36 crore for year under review as compared to Rs 72,385.52 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the Bank has reported a fall of 44.84% in its net profit at Rs 4254.24 crore as compared to Rs 7712.19 crore for the previous year. However, total income of the Bank increased by 10.37% at Rs 131,306.50 crore for year under review as compared to Rs 118,969.10 crore for year ended March 31, 2018.
06-May-2019
Asian Oilfield Services’ arm signs contract with Amni
Asian Oilfield Services’ wholly owned subsidiary — Asian Oilfield & Energy Services DMCC, Dubai (Asian DMCC) has signed the contract with Amni International Petroleum Development OML 52 Company (Amni) for upgrade of Amni’s existing production facility under the project contract of EPCC (engineering, procurement, construction and commissioning). The contract is valued at approximately $52 million.
Asian Oilfield Services provides range of services to reputed national and multinational companies. The company banks on the rich experience of well qualified professionals for providing seismic data acquisition, processing and Interpretation services.
06-May-2019
Hindusthan Urban discontinues operation at Khurda plant
Hindusthan Urban Infrastructure has discontinued operation at its Khurda plant with effect from May 3, 2019, due to cyclonic storm (fani) at Khurda and other coastal areas of Odisha.
Surveyor being appointed to ascertain the damages caused due to storm. However, plant is fully covered under insurance policy. Resumption of operations at plant may take couple of weeks which will be intimated.
Hindusthan Urban Infrastructure, together with its subsidiaries, manufactures and sells overhead conductors and electro-porcelain high tension (HT) insulators in India and internationally.
06-May-2019
Hindustan Zinc reports 20% fall in Q4 net profit
Hindustan Zinc has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 19.68% in its net profit at Rs 2012 crore for the quarter under review as compared to Rs 2505 crore for the same quarter in the previous year. Total income of the company decraesed by 10.33% at Rs 6,030 crore for Q4FY19 as compared Rs 6,725 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a fall of 14.23% in its net profit at Rs 7956 crore as compared to Rs 9276 crore for the previous year. Total income of the company decreased by 5.51% at Rs 22,900 crore for year under review as compared to Rs 24,235 crore for year ended March 31, 2018.
06-May-2019
Tejas Networks’ TJ1400 selected as finalist for Leading Lights Award
Tejas Networks’ ultra-converged broadband access/edge products — TJ1400 has been shortlisted for the prestigious Leading Lights Award 2019 in the category ‘Most Innovative Telecoms Product (Optical/IP/Carrier Ethernet/FTTH)’. Leading Lights is an international award program organized annually by Light Reading (an Informa business) that honours a company that has developed a potentially market-leading Optical/IP/Ethernet product.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities.
06-May-2019
Vaswani Industries planning to purchase residential apartment
Vaswani Industries is planning to purchase residential apartment. The meeting of Board of Directors of the company is scheduled to be held on May 08, 2019, to consider the same.
Vaswani Industries is manufacturing Coal-based Sponge Iron along with a Waste Heat Recovery Boiler (WHRB). The company also in the business activities of Power, Fabrics, Real Estate, Iron & Steel.
06-May-2019
Tata Motors, TVS Auto Assist to launch breakdown assistance services for women drivers
Tata Motors and TVS Auto Assist will launch breakdown assistance services for women drivers during late hours from next month. As per the Women Assist Program, which will roll out from June 1, the companies will cater to the urgent service requirements of a woman driver of Tata Motors passenger vehicles, between 8 pm to 5 am, on all days.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
06-May-2019
Sadbhav Infrastructure Project’s arm submits financial closure for Karnataka project
Sadbhav Infrastructure Project’s wholly owned subsidiary — Sadbhav Tumkur Highway (STHPL) has submitted draft financing documents to National Highways Authority of India (NHAI) in relation to Financial Close.
The company has submitted the same for project of four laning of Tumkur-Shivamogga section from Km. 121 +900 (Banwara) to Km. 170+415 (Bettadahalli) of NH-206 on Hybrid Annuity Mode under NHDP Phase-IV in the state of Karnataka. (Package-III).
With these, the company has completed its obligation with respect to financial close of its all twelve Hybrid Annuity projects. Out of these 12 Hybrid Annuity projects, it has received appointed date for 8 projects.
Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specializes in the development, operation and maintenance of highways, roads and related projects. The company, a subsidiary of Sadbhav Engineering (SEL), was incorporated in 2007 as a developer and operator for highways, road and related projects on a BOT basis.
06-May-2019
Sagar Cements logs 3.79% growth in consolidated cement production in April
Sagar Cements has reported the cement production figures for April 2019. The company’s consolidated cement production/purchase for April 2019 stood at 271,592 million tonnes (MT), up by 3.79% compared to 261,685 MT produced in April 2018.
Further, the standalone cement production for April 2019 stood at 205,625 MT, up by 9.66% compared to 187,505 MT sold in April 2018.
Sagar Cements is a prominent player in the field of cement in Andhra Pradesh for over 3 decades adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.
06-May-2019
USFDA classifies Strides Pharma’s Puducherry facility as Official Action Initiated
Strides Pharma Science has received a communication from the United States Food & Drug Administration (USFDA) on May 04, 2019 classifying the Puducherry facility as Official Action Initiated (OAI) based on the inspection conducted from January 28- February 05, 2019.
The company believes that the classification will not have an impact on the current supplies and revenues from the facility. However, of the 34 ANDA’s pending approval, Puducherry has 10 ANDA’s where the company expects delays until the facility is reclassified.
Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.
06-May-2019
AMD Industries shifts manufacturing, operation lines to Neemrana Plant
AMD Industries has shifted all the operation lines and the production capacity of the Ghaziabad unit – situated at Ghaziabad, Uttar Pradesh to its Neemrana Plant located at RIICO Industrial Area, Neemrana, Rajasthan.
The consolidated Plant manufacturing lines at its Neemrana Plant will result in better control of the operations and on the other hand there will be no effect on the overall cumulative installed production capacity of AMD Industries before and after the shifting.
AMD Industries Ltd is engaged in the manufacturing of packaging articles being used in soft drinks, Beverages, water, beer, liquor and pharmaceutical industries
06-May-2019
NIIT Technologies reports 13% rise in Q4 consolidated net profit
NIIT Technologies has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 75.62% in its net profit at Rs 63.40 crore for the quarter under review as compared to Rs 36.10 crore for the same quarter in the previous year. Total income of the company increased by 31.52% at Rs 558.30 crore for Q4FY19 as compared Rs 424.50 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a rise of 12.95% in its net profit at Rs 109.90 crore for the quarter under review as compared to Rs 97.30 crore for the same quarter in the previous year. Total income of the company increased by 21.89% at Rs 979.50 crore for Q4FY19 as compared Rs 803.60 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 32.18% in its net profit at Rs 299.00 crore as compared to Rs 226.20 crore for the previous year. Total income of the company increased by 22.24% at Rs 2,153.40 crore for year under review as compared to Rs 1,761.60 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 36.73% in its net profit at Rs 422.10 crore as compared to Rs 308.70 crore for the previous year. Total income of the company increased by 23.07% at Rs 3,729.70 crore for year under review as compared to Rs 3,030.50 crore for year ended March 31, 2018.
06-May-2019
LIC Housing Finance reports 17% rise in Q4 net profit
LIC Housing Finance has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 16.70% in its net profit at Rs 693.58 crore for the quarter under review as compared to Rs 594.34 crore for the same quarter in the previous year. Total income of the company increased by 19.74% at Rs 4,655.14 crore for Q4FY19 as compared Rs 3,887.55 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 21.40% in its net profit at Rs 2,430.97 crore as compared to Rs 2,002.50 crore for the previous year. Total income of the company increased by 16.99% at Rs 17,361.72 crore for year under review as compared to Rs 14,840.61 crore for year ended March 31, 2018.
06-May-2019
EID Parry planning to raise Rs 300 crore via NCDs
EID Parry (India) is planning to raise Rs 300 crore by issue of Non-Convertible Debentures (NCDs) on private placement basis in one and more tranches. The meeting of the Board of Directors of the Company scheduled to be held on May 8, 2019, to consider the same.
EID Parry (India) is a significant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International.
06-May-2019
NCLT sanctions scheme of amalgamation of Rex Polyextrusion with Astral Poly Technik
National Company Law Tribunal (NCLT), Bench at Ahmedabad has sanctioned Scheme of Amalgamation of Rex Polyextrusion with Astral Poly Technik and their respective shareholders and creditors vide order dated May 02, 2019.
Astral Poly Technik offers products like Astral FlowGuard CPVC, Astral Corzan Aquarius, Astral Aquarius and Astral Underground.
06-May-2019
SBI restores operations in most branches in 3 districts of Odisha
State Bank of India (SBI) has restored operations in most of its branches in the districts of Balasore, Bhadrak and Keonjhor in Odisha on May 5, 2019 in the aftermath of Cyclone Fani. The Bank and its employees are working on the forefront to streamline the functioning of its network of branches in the state to ensure customer convenience. All SBI customers will be able to do banking transactions like deposit, withdrawal and other services through all operational branches with immediate effect.
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.
06-May-2019
Orient Tradelink to increase its digital content, inventory
In view of increasing its digital content, Orient Tradelink (OTL) is in talks with 2-3 Major players in this segment to acquire approximately 60 devotional musical songs to strengthen its base in the Market.
As Now the trend is shifting to the Digital content which helps one person to get his choice of content anytime anywhere and as per his need, OTL is also increasing its content to grab the maximum market share and in order to achieve this, OTL has recently taken major steps to strong its Digital Library.
Orient Tradelink is engaged in the business of television channels, news, Films, music, serials and trading in fabrics which are governed by the same set of risks and returns and as such are in the same segment.
06-May-2019
Moneyboxx Finance opens branch offices in Rajasthan
Moneyboxx Finance has got its branch offices opened/operational at Behror and Beawar in the State of Rajasthan.
Moneyboxx Finance is a Non Deposit taking Non-systemically Important Non Banking Finance Company (NBFC-ND-NSI) engaged primarily in the business of advancing loans and investing/trading in securities.
06-May-2019
Godrej Consumer Products planning for robust sales growth in India during FY20
Godrej Consumer Products is planning for robust sales growth in India for fiscal year 2020 on the back of a continued focus on innovations and enhancements to its go-to-market model. The company hopes to continue driving profitable sales growth in Indonesia, while focusing on profitable sales growth in Africa, and ensuring a meaningful turnaround in its Latin American business.
Godrej Consumer Products is the largest home-grown home and personal care company in India.
06-May-2019
Force Motors’ SCV & LCV production stands at 713 units in April
Force Motors has reported the production, sales and export of the products manufactured by the company during the month of April 2019. The company’s production of Small Commercial Vehicles (SCV) & Light Commercial Vehicles (LCV) stood at 713 units and Utility Vehicles (UV), Sports Utility Vehicles (SUV) & Tractors stood at 821 units.
The company’s domestic sales for SCV & LCV stood at 1,127 units and UV, SUV & Tractors stood at 566 units, while the company has exported 38 units of SCV & LCV and 1 units of UV, SUV & Tractors in month of April 2019.
Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.
06-May-2019
Global Offshore Services’ arm sells vessel ‘M.V.Olympus’
Global Offshore Services’ subsidiary — Global Offshore Services B.V., Netherlands has sold the Vessel ‘M.V.Olympus’ due to inability to repay the loan availed from Nord Lb for the said Vessel. The said vessel has been sold in conjunction with the Lenders after following the due process of Law for $ 8.10 million only.
Global Offshore Services presently owns and operates a fleet of anchor handling tugs cum vessels and platform supply vessels.
06-May-2019
Alembic Pharmaceuticals’ JV gets EIR from USFDA for facility at Karkhadi
Aleor Dermaceuticals (Aleor), a 60:40 Joint Venture (JV) between Alembic Pharmaceuticals (Alembic) and Orbicular Pharmaceutical Technologies (Orbicular), has received Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for the inspection carried out by them at Aleor’s Formulation Facility at Karakhadi, Gujarat, India during the period from February 04, 2019 to February 08, 2019.
Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.
06-May-2019
Vikas WSP launches high resistant Starch Ozonized Wheat Flour
Vikas WSP has launched high resistant Starch Ozonized Wheat Flour (a little more than ORGANIC) for home consumption and export developed by the company with the technical knowhow of University of Nebraska (UNL) Food Innovation Center, Lincoln, USA with an installed capacity of 30000 tons/annum.
The product is produced by making use of Swiss Washing Technology and by introducing super-heated steam at 231.1 dC and subsequently freezing at minus 18dC to enhance Resistance Starch.
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.
06-May-2019
Hitachi expects 15% growth in residential AC segment this year
Johnson Controls-Hitachi Air Conditioning India is expecting a 15% growth in the residential AC segment this year led by its inverter range. The company is also expecting to almost double the sales of its inverter range of ACs and around 50% growth in sales of 5-star inverter ACs over the previous year.
Johnson Controls-Hitachi Air Conditioning is engaged in manufacturing a range of electronic home solutions.The product range of the company includes window ACs, split AC, tower and packaged air conditioners, 2- and 3-door refrigerators &fully automatic machines.
06-May-2019
Federal Bank reports 3-fold jump in Q4 net profit
The Federal Bank reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported around 3-fold jump in its net profit at Rs 381.51 crore for the quarter ended March 31, 2019 as compared to Rs 144.99 crore for the same quarter in the previous year. Total income of the bank increased by 20.33% at Rs 3,444.04 crore for quarter under review as compared to Rs 2,862.14 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the bank has posted a rise of 41.54% in its net profit at Rs 1,243.89 crore as compared to Rs 878.85 crore for the previous year. Total income of bank increased 17.03% at Rs 12,770.05 crore for year under review as compared to Rs 10,911.98 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the bank has posted rise of 40.99% in its net profit at Rs 1,282.52 crore as compared to Rs 909.65 crore for the previous year. Total income of company bank by 17.12% at Rs 12,970.66 crore for year under review as compared to Rs 11,075.12 crore for year ended March 31, 2018.
06-May-2019
Aditya Birla Capital gets nod to raise funds via equity, debt instruments
Aditya Birla Capital has received approval from its board for raising funds up to Rs 3,500 crore through both equity and debt issuance. The company seeks shareholders’ nod for the same.
The funds can be raised in one or more tranches by way of issuance of equity shares and equity linked instruments, including convertible preference shares, non-convertible debt instruments along with warrants, debentures, and/or any other securities convertible into equity shares, global depository receipts, American depository receipts and foreign currency convertible bonds.
Aditya Birla Capital is one of the largest financial services players in India.
06-May-2019
Aditya Birla Capital reports 68% rise in Q4 consolidated net profit
Aditya Birla Capital has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a net profit of Rs 6.52 crore for the quarter ended March 31, 2019 against net loss of Rs 9.88 crore for the same quarter in the previous year. However, total income of the company increased around 3-fold at Rs 79.09 crore for quarter under review as compared to Rs 27.51 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported 67.76% rise in its net profit at Rs 254.81 crore for the quarter ended March 31, 2019 as compared to Rs 151.89 crore for the corresponding quarter in the FY18. Total consolidated income of the company increased by 32.20% at Rs 4730.80 crore for quarter under review as compared to Rs 3578.44 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a net loss of Rs 9.60 crore against net profit of Rs 36.17 crore for the previous year. However, total income of company increased by 8.42% at Rs 178.49 crore for year under review as compared to Rs 164.63 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has reported 17.06% rise in its net profit at Rs 811.30 crore as compared to Rs 693.08 crore for the previous year. Total income of company increased by 31.62% at Rs 15,171.97 crore for year under review as compared to Rs 11,527.48 crore for year ended March 31, 2018.
06-May-2019
Oberoi Realty planning to raise fund via NCDs
Oberoi Realty is planning to raise fund by various modes, including by issue of Non-Convertible Debentures (NCDs) (by way of private placement or otherwise), or any other securities, equity shares and / or any other securities convertible into equity (by way of one or more Qualified Institutions Placement).
The Board of Directors of the Company at its meeting to be held on May 10, 2019 to consider the same.
Oberoi Realty is engaged in construction and real estate development, and hospitality. The company’s segments include Real estate and Hospitality.
06-May-2019
Vardhman Special Steels posts 11% decline in sales volume for Q4FY19
Vardhman Special Steels has registered a decline of 10.64% in its sales volume for the year ended March 31, 2019 at 34,363 tonnes, as against 38,455 tonnes in same period last year, mainly on account of a significant slowdown in automotive industry.
However, the company has reported sales volume for FY19 at 1,61,676 tonnes a Year on Year growth of 6.25%.
Vardhman Special Steels incorporates cutting-edge manufacturing technology, ensuring the highest levels of quality and compliance. Placed among the leading producers of Special and Alloy Steels, the company caters to diverse requirements of hot rolled bars for Engineering, Automotive, Tractor, Bearing and Allied Industries.
06-May-2019
Tata Motors to phase out small diesel cars from its portfolio
Tata Motors is likely to phase out small diesel cars from its portfolio as demand is expected to slow down due to upcoming BS-VI emission norms. The company currently sells its entry-level hatchback Tiago with 1-litre diesel engine, compact sedan Tigor with 1.05-litre powertrain and older models like the Bolt and the Zest with a 1.3-litre diesel engine.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
06-May-2019
ITC’s foods division launches disruptive range of transparent PET Beverages
ITC’s Foods Division has launched yet another disruptive product offering from its B Natural range of fruit beverages – the country’s first premium fruit beverages in Aseptic PET bottles with no added preservatives. Last year, the brand had made a paradigm shift in the way their fruit juices and beverages are manufactured. B Natural’s entire range is ‘not made from imported concentrates’ but with Indian fruits sourced only from Indian farmers.
The launch range will comprise of three variants which cater to the Indian consumer palette – Himalayan Mixed Fruit, Ratnagiri Alphonso and Dakshin Pink Guava which are made with fruits that are procured from the pristine orchards of Himalayas, Ratnagiri and Dakshin Karnataka. The range will be available across major Modern Trade and General Trade stores across the country.
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.
06-May-2019
ITC planning to expand dairy beverages portfolio in India
ITC is planning to expand its dairy beverages portfolio to the rest of the country by the next summer and is eyeing a 5-10% market share in the first year of operations. The company entered the ready-to-drink milk-based beverages market with the launch of Sunfeast Wonderz Milk last December. The milkshake market is around Rs 1,000 crore.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology
06-May-2019
PNC Infratech to sell stake in Ghaziabad Aligarh Expressway to Cube Highways
PNC Infratech has entered into a share purchase agreement with Cube Highways and Infrastructure for sale of its entire stake i.e. 2,93,24,000 equity shares, representing 15.12% of the total shareholding in Ghaziabad Aligarh Expressway, an associate of the Company.
The enterprise value of the project is Rs 1,834 crore, however the equity value of the proposed transaction is subject to adjustments of debt and other capital and operational costs at closing date and hence net consideration receivable is not ascertainable at this stage.
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
06-May-2019
ONGC gets environment clearance for six development wells in Assam
The Union Environment Ministry has given the environment clearance to Oil and Natural Gas Corporation (ONGC) for six development wells in five mining lease blocks in Jorhat and Golghat districts, Assam.
The company had sought permission for drilling 12 development wells but it received clearance for six wells at present.
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.
06-May-2019
DHFL gets nod to raise funds up to Rs 2,000 crore
Dewan Housing Finance Corporation (DHFL) has received an approval to raise funds up to Rs 2,000 crore in one or more tranches. The board of the company in its meeting held on May 04, 2019 approved the same.
The Board has constituted a sub-committee named ‘Special Committee for Issuance of Securities’ and authorised the said Committee to decide upon various factors viz. mode, pricing, terms & conditions and other allied matters in respect of the said issuance.
DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.
06-May-2019
Zydus Cadila’s arm recalls 7,668 bottles of Carvedilol Tablets from American market
Zydus Cadila’s subsidiary — Zydus Pharmaceuticals USA Inc is recalling 7,668 bottles of Carvedilol Tablets, used to treat high blood pressure, in the American market. The drug firm is recalling the drug due to the ‘presence of foreign tablets/ capsules’.
The USFDA classified both the recalls as Class III. A Class III recall by the USFDA is initiated in a situation in which use of or exposure to a violative product is not likely to cause adverse health consequences.
Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
06-May-2019
Lupin’s arm recalls Morphine Sulfate extended-release tablets in US
Lupin’s subsidiary — Novel Laboratories’ Somerset facility is recalling 46,700 bottles of Morphine Sulfate extended-release tablets, used to treat severe pain, in the US market. The recalling is in various strengths due to failed impurities/degradation specifications.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
06-May-2019
Ducon Infratechnologies secures FGD project order from Chloride Metals
Ducon Infratechnologies has received a FGD project order from Chloride Metals, one of India’s largest secondary lead smelter and Production Company for their Greenfield lead metal recycling and refining project in Haldia.
Under this turnkey order, the company will provide a complete air pollution control package including Lime FGD system along with particulate control system which will allow Chloride Metals Ltd to comply with latest global emission standards. The company continues to be actively involved in bidding on both power plant size and industrial size FGD projects.
Ducon Infratechnologies is a growing technology company providing solutions in the digital and infrastructure space to a variety of business segments across industries.
06-May-2019
Dr. Reddy’s Lab launches Testosterone Gel
Dr. Reddy’s Laboratories has launched Testosterone Gel 1.62%, a therapeutic equivalent generic version of AndroGel (testosterone gel) 1.62%, approved by the US Food and Drug Administration (USFDA).
The AndroGel (testosterone gel) brand and generic had US sales of approximately $815.6 million MAT for the most recent twelve months ending in February 2019 according to IQVIA Health.
Dr. Raddy’s Testosterone Gel 1.62% (20.25 mg/1.25 g pump actuation) is available in a net quantity of 88 g pump which dispenses 20.25 mg of testosterone per actuation. Each metered-dose pump is capable of dispensing 60 metered pump actuations.
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.
06-May-2019
Vodafone Idea to seek shareholders’ nod for transfer of optical fibre assets to its arm
Vodafone Idea will seek for its shareholders’ approval on June 6 to transfer optical fibre assets to a wholly-owned subsidiary –Vodafone Towers. The company has proposed to hive off its telecom fibre infrastructure to Vodafone Towers before monetising it and approached the National Company Law Tribunal Ahmedabad on April 11, 2019, for its approval.
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.
06-May-2019
Torrent Pharmaceuticals raises Rs 200 crore via CPs
Torrent Pharmaceuticals has raised funds through issuance of Commercial Paper (CPs) for an amount of approximately Rs 200 crore on May 03, 2019. The Tenure of the instrument is 136 days, having a maturity date of September 16, 2019. Credit rating agency, ICRA has granted rating of ‘A1 +’ for issuance of Commercial papers by the company.
Torrent Pharmaceuticals is Flagship Company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
06-May-2019
Morepen Laboratories reports 51% jump in export sales revenue in Q4FY19
Morepen Laboratories has reported export sales revenue up by 51% at Rs 96.41 crore due to high impetus in API business for Q4FY19. The company’s domestic sales revenue up by 13% at Rs 118.84 crore.
Besides, the company’s API sales revenue grew by 34% at Rs 125.48 crore and Home Diagnostics Sales Revenue by 12% at Rs 27.77 crore in Q4FY19 and formulation sales revenue jumped by 30% at Rs 49.35 crore.
Morepen is a well-known pharma company having well equipped Research & Development Centre and is all set to seize the Generic revolution in pharma industry, by filing multiple DMFs and COS for new APIs.
06-May-2019
Bharat Road Network to sell holding in Ghaziabad Aligarh Expressway
Bharat Road Network has entered into a share purchase agreement with Cube Highways and Infrastructure, for sale of its holding in Ghaziabad Aligarh Expressway (GAEPL), an ‘associate’ of the Company. The proposed transaction is subject to applicable regulatory and other approvals and certain conditions, more specifically laid down in the Share Purchase Agreement.
The equity value of the proposed transaction is subject to adjustments of debt and other capital and operational costs at closing date and hence, net consideration receivable is not ascertainable at this stage.
Cube Highways and Infrastructure is an infrastructure company based in Singapore, with the aim of acquiring and operating portfolio of highway and transportation infrastructure assets.
Bharat Road Network is an infrastructure company. It is engaged in the development and implementation of important roads and highways. The firm caters to the requirements of build’operate’transfer sector.
04-May-2019
Profile: Brilliant Portfolios
Brilliant Portfolios was incorporated under the provision of the Companies Act, 1956 as Private Limited Company in the name of Brilliant Portfolios on February 21, 1994 and thereafter on September 20, 1995 the company converted into Public Limited Company and received Fresh Certificate of Incorporation in the name of Brilliant Portfolios issued by ROC, Delhi.
The company is a Non-Banking Financial Company (NBFC). The Company is duly registered with RBI and is carrying on NBFC’s activities. The company also gives short term and long term loans to its borrowers. The Company will continue its focus and efforts in Capital Market as well as in making loans to the potential and sound borrowers. The company is optimistic that it would be able to fetch better returns in the future. The equity shares of Brilliant Portfolios Limited are listed with Bombay Stock exchange (BSE).
The company undertake the business of Security Analysts, Investment or Financial consultants and advisors and to act as Asset Manager for Resident and Non Resident Indian and for Indian and Foreign whether being a body corporate, firm or an individual.
The company act as stock and share Brokers for primary and secondary market or operations and finance brokers and to be members in one or more stock exchange/OTC exchanges anywhere in India or outside India and to act as sub-brokers of one or more brokers of one or more stock exchange anywhere in India or outside India and to deal in foreign currencies as authorised dealers.
Business area of the company
The Company is engaged in the business of NBFC activity and making both long term and short term Investment in quoted as well as unquoted shares. The company is also involved in real estate business.
04-May-2019
Profile: 3rd Rock Multimedia
3rd Rock Multimedia is specialized team of professional undertaking Film Promotions, International Events, Corporate Events and Cultural Events. No matter how small or large, there experienced staff is prepared to accommodate and manage company events wherever and whatever they may be. The company’s expertise runs deep and wide with the ability to assist from inception to completion. 3rd Rock Multimedia has been through a journey of various memorable and successful events, owning entertainment properties like ‘3rd Rock Fashion Fiesta’ and ‘3rd Rock Calendar’.
Business area of the company
3rd Rock Multimedia is a full service event management company located in Mumbai specializing in events around the globe, giving clients the special attention they need in order to successfully execute their event.
Services:
- Film promotions
- International events
- Corporate events
- Cultural events
04-May-2019
Profile: Apex Home Finance
Apex Home Finance was originally incorporated on June 18, 1985 as a Public Limited Company with name ‘Apex Finance Limited’, under the provisions of the Companies Act, 1956 with the Registrar of Companies, Delhi and Haryana. The Company obtained Certificate of commencement of Business on June 24, 1985. The name of the Company was changed from ‘Apex Finance Limited’ to ‘Apex Finance and Leasing Limited’ and a fresh certificate of incorporation consequent upon change of name was issued on April 06, 1987 by the Registrar of Companies, NCT of Delhi and Haryana. Subsequently, the name of the Company was changed to its present name ‘Apex Home Finance Limited’ and a fresh certificate of incorporation consequent upon change of name was issued on June 05, 1998 by the Registrar of Companies, NCT of Delhi and Haryana.
The Company is currently listed with Bombay Stock Exchange. The Company is registered as a Non-Deposit Accepting Non-Banking Finance Company (NBFC) with Reserve Bank of India.
Business area of the company
The main business of the Company is lending/advancing of short term and /or long term finance to any individual, firm, company, bodies corporate, corporation, society etc. whether at interest or without interest and with or without security.
Services
- Financing
- Investments
- Hire Purchase
04-May-2019
Profile: Ejecta Marketing
The company was incorporated on February 19, 1983 in the name and style of Appu Marketing & Manufacturing Limited. The Company’s Shares are listed in the Calcutta Stock Exchange Association Limited. Subsequently, on September 19, 2014 it got listed on BSE. The company recently changed its name from Appu Marketing & Manufacturing Limited to Ejecta Marketing Limited. The overall management of the Company is managed by the Executive Directors under the overall supervision, control and guidance of the Board of Directors.
Business area of the company:
Ejecta Marketing is a trading company, providing competitive, faster and professional services and facilitates a smooth flow of products from the manufacturers, dealers, distributors to the customers.
Products:
- E-Commerce Business
- Birthday Store
04-May-2019
Profile: Chemfab Alkalis
Chemfab Alkalis is the first Chloralkali Plant in India, to introduce and successfully implement Ion Exchange Membrane Cell technology for Chlor-alkali production, in 1985. CCAL has upgraded with BiTAC electrolysers, for the first time in India.
Products:
- Caustic Soda Lye in two grades (33% & 48%).
- Liquid Chlorine
- Hydrogen Gas
- Hydrochloric Acid
- Sodium Hypochlorite / Bleach Liquor
04-May-2019
Profile: AF Enterprises
AF Enterprises had been incorporated on August 18, 1983 with the name of AF Investment. The company changed its name to A F Enterprises with effect from October 08, 1991, with the objective of being an Investment Company.
The Company is also listed in the Bombay Stock Exchange (BSE), where the company trading volume is also appreciable. The Company has also taken initiative to enter into new segments like Garments and other similar ventures. The process to attain this objective has been started in the Form of ‘LOOK CENTRIC’ which is an Indian e-commerce brand of fashion and casual in clothing. Look Centric provides collection of different designs, style, and prints to meet your every mood, rage and fancy collection in town.
Look Centric is a retail fashion destination for all clothing needs. At Lookcentric.com the company have trendy apparels for every generation at a very pocket friendly price range. The company have built a store which has a collection of different designs, style, and prints to meet consumer demands.
Business area of the company
The Company carries on the business of an investment company and where the company invest-in, acquire, underwrite subscribe for, hold shares, bonds, stock securities, debentures, debenture stocks, issued or guaranteed by the company constituted and carrying on business in India.
04-May-2019
Orient Green Power to disinvest 57.92% stake in Sanjog Sugars and Eco-Power
Orient Green Power Company has received approval to disinvest its entire holding of 9,18,954 equity shares (aggregating 57.92%) held in Sanjog Sugars and Eco-Power (Bio Mass Subsidiary) in favour of Soorya Eco Power as per Share Purchase Agreement (SPA) executed by the company with Soorya Eco Power.
The Board of Directors of the Company at its meeting held on May 02, 2019 has approved the same.
Orient Green Power Company are the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity.
04-May-2019
Vodafone Idea to deploy Ericsson’s Cloud Packet Core to enhance network performance
Ericsson has been selected by Vodafone Idea to deploy its Cloud Packet Core to enhance its existing core network. As part of this deal, the company will benefit from Ericsson’s market leading core network applications and Network Functions such as Ericsson virtual Evolved Packet Gateway (vEPG), Service Aware Policy Controller (vSAPC) and Virtualization Infrastructure (NFVi) solution enabling fast introduction of new services and providing full service continuity.
The company is partnering with the best of global vendors and equipment suppliers like Ericsson to deploy new age technologies with built-in customizations and novel innovations to deliver rich customer experience while building a robust, future fit network.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
04-May-2019
Vodafone Idea inks IT outsourcing deal with IBM
Vodafone Idea has signed five-year multi-million-dollar IT outsourcing deal with IBM. This collaboration will also contribute to Vodafone Idea’s merger synergy objectives by reducing its IT related costs. The deal will provide a platform for fast-track joint initiatives in Artificial Intelligence and Internet of Things.
The collaboration will also provide the company with a hybrid cloud based digital platform to enable more intimate engagement with its over 387 million subscribers (as of December 31, 2018), enhancing business efficiency, agility and scale plus simplification of its business processes.
The new infrastructure platform will remove constraints to exponential growth of data usage driven by increasing consumption of video, streaming and digital commerce. It will also drive enhanced customer experience to millions of connected consumers and businesses in India.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
04-May-2019
Godrej Properties acquires iconic R K Studios’ land in Mumbai
Godrej Properties has acquired iconic R K Studios’ land in Chembur, Mumbai. The company will develop here a mixed-use project housing luxury flats and retail space. Spread on over across 2.2 acres of land, this project will offer approximately 33,000 square meters (about 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
04-May-2019
Hindustan Unilever reports 14% rise in Q4 net profit
Hindustan Unilever has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a rise of 13.84% in its net profit at Rs 1538 crore for the quarter under review as compared to Rs 1351 crore for the same quarter in the previous year. Total income of the company increased by 9.42% at Rs 10,063 crore for Q4FY19 as compared Rs 9,197 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 15.26% in its net profit at Rs 6,036 crore as compared to Rs 5,237 crore for the previous year. Total income of the company increased by 8.67% at Rs 38,888 crore for year under review as compared to Rs 35,787 crore for year ended March 31, 2018.
04-May-2019
Birla Corporation reports marginal fall in Q4 consolidated net profit
Birla Corporation has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 18.61% in its net profit at Rs 87.45 crore for the quarter under review as compared to Rs 107.45 crore for the same quarter in the previous year. However, total income of the company increased by 17.30% at Rs 1,296.10 crore for Q4FY19 as compared Rs 1,104.92 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a marginal fall of 2.23% in its net profit at Rs 128.19 crore for the quarter under review as compared to Rs 131.12 crore for the same quarter in the previous year. However, total income of the company increased by 12.74% at Rs 1,897.18 crore for Q4FY19 as compared Rs 1,682.81 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 19.67% in its net profit at Rs 137.78 crore as compared to Rs 115.13 crore for the previous year. Total income of the company increased by 14.37% at Rs 4,504.66 crore for year under review as compared to Rs 3,938.65 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 66.09% in its net profit at Rs 255.70 crore as compared to Rs 153.95 crore for the previous year. Total income of the company increased by 10.22% at Rs 6,627.20 crore for year under review as compared to Rs 6,012.94 crore for year ended March 31, 2018.
04-May-2019
Cholamandalam Financial Holdings reports marginal rise in Q4 net profit
Cholamandalam Financial Holdings has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a marginal rise of 1.96% in its net profit at Rs 34.26 crore for the quarter under review as compared to Rs 33.60 crore for the same quarter in the previous year. Total income of the company marginal increased by 2.42% at Rs 36.47 crore for Q4FY19 as compared Rs 35.61 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a rise of 12.02% in its net profit at Rs 66.53 crore as compared to Rs 59.39 crore for the previous year. Total income of the company increased by 13.68% at Rs 73.52 crore for year under review as compared to Rs 64.67 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 25.55% in its net profit at Rs 1,414.83 crore as compared to Rs 1,126.88 crore for the previous year. Total income of the company increased by 22.86% at Rs 10,946.81 crore for year under review as compared to Rs 8,909.90 crore for year ended March 31, 2018.
04-May-2019
Varun Beverages concludes acquisition of franchise rights in South, West regions from PepsiCo
Varun Beverages has concluded the acquisition of franchise rights in South and West regions from PepsiCo India Holding (PepsiCo) for a national bottling, sales and distribution footprint in 7 States and 5 Union Territories of India. Transfer of manufacturing facilities in above territories is in progress and shall be completed in due course. The company is now a franchise of PepsiCo beverages business across 27 States and 7 Union Territories of India.
Varun Beverages is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA).
04-May-2019
Tata Chemicals’ Q4 consolidated net profit falls 63%
Tata Chemicals has reported results for fourth quarter and year ended March 31, 2019.
The company has reported a fall of 77.63% in its net profit at Rs 230.33 crore for the quarter under review as compared to Rs 1029.49 crore for the same quarter in the previous year. However, total income of the company increased by 14.74% at Rs 1,134.95 crore for Q4FY19 as compared Rs 989.19 crore for the corresponding quarter previous year.
On the consolidated basis, the company has reported a fall of 62.81% in its net profit at Rs 450.10 crore for the quarter under review as compared to Rs 1,210.19 crore for the same quarter in the previous year. However, total income of the company increased by 8.23% at Rs 2,845.26 crore for Q4FY19 as compared Rs 2,628.83 crore for the corresponding quarter previous year.
For the year ended March 31, 2019, the company has reported a fall of 48.51% in its net profit at Rs 909.74 crore as compared to Rs 1766.96 crore for the previous year. However, total income of the company increased by 19.99% at Rs 4,537.80 crore for year under review as compared to Rs 3,781.66 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 48.68% in its net profit at Rs 1,386.85 crore as compared to Rs 2,702.49 crore for the previous year. However, total income of the company increased by 11.45% at Rs 11,707.97 crore for year under review as compared to Rs 10,504.82 crore for year ended March 31, 2018.
04-May-2019
Larsen & Toubro InfoTech reports 31% rise in Q4 consolidated net profit
Larsen & Toubro InfoTech has reported results for the fourth quarter and year ended March 31, 2019.
The company has reported a rise of 12.24% in its net profit at Rs 360.40 crore for the quarter ended March 31, 2019 as compared to Rs 321.10 crore for the same quarter in the previous year. Total income of the company increased by 18.02% at Rs 2,402.60 crore for quarter under review as compared to Rs 2,035.70 crore for the quarter ended March 31, 2018.
On consolidated basis, the company has reported rise of 30.79% in its net profit at Rs 378.50 crore for the quarter ended March 31, 2019 as compared to Rs 289.40 crore for the corresponding quarter in the FY18. Total consolidated income of the company rose 20.54% at Rs 2,553.40 crore for quarter under review as compared to Rs 2,118.30 crore for the same quarter ended previous year.
For the year ended March 31, 2019, the company has posted a rise of 27.15% in its net profit at Rs 1,475.10 crore as compared to Rs 1,160.10 crore for the previous year. Total income of company increased 24.28% at Rs 9,236.20 crore for year under review as compared to Rs 7,431.80 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the company has posted rise of 36.24% in its net profit at Rs 1,515.50 crore as compared to Rs 1,112.40 crore for the previous year. Total income of company increased by 26.06% at Rs 9,748.10 crore for year under review as compared to Rs 7,732.60 crore for year ended March 31, 2018.
04-May-2019
ONGC restores operations in Bay of Bengal after cyclone Fani makes landfall
Oil and Natural Gas Corporation (ONGC) has restored operations at its fields in the Bay of Bengal after a category-4 cyclone made landfall without causing any disruption to its offshore installations. As a precaution the company had halted operations, evacuated some 500 employees and towed rigs to safer waters ahead of the cyclone.
Fani or the ‘Hood of Snake’, labelled as a category 4 storm on a scale of 1 to 5, made landfall in Puri, with roaring winds flattening huts, enveloping the pilgrim town in sheets of rain, and submerging homes in residential areas.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
04-May-2019
HIL commences final phase production at Golan Plant in Gujarat
HIL has commenced the final phase production of its CpVC, UpVC and SWR (Soil, Waste & Rain) Pipes and Fittings at its plant located at Golan Plant in the state of Gujarat. This is in line with the company’s intention to expand the plumbing solutions business with an extended portfolio.
The total additional Capacity of 2,916 MT/P.A (1,260 M.T Per Annum of SWR and Pressure Fittings and 1,656 M.T Per Annum CPVC and UPVC Fittings).
HIL is a leading player in asbestos cement sheet (ACS) for roofing, from which it derives 70 per cent of its revenue at present.
04-May-2019
RBI levies penalty on Yes Bank for violating money transfer norms
The Reserve Bank of India (RBI) has levied penalty of Rs 11.25 lakh on Yes Bank for violating money transfer norms. The RBI has identified certain violations of its circular of 2011 on Domestic Money Transfer – Relaxations and master directions issued in October 2017 on issuance and operation of prepaid payment instruments in connection with certain product features for an open loop prepaid card (co-branded) previously issued by the bank.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
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