Thursday , 18 July 2019
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BUSINESS

IL&FS Transportation Networks’ arm looking to sell 49% stake in Chongqing Yuhe Expressway

IL&FS Transportation Networks’ wholly owned subsidiary — ITNL International is looking to sell its 49 percent stake in Chongqing Yuhe Expressway Company in China. The balance 51 percent is owned by local partner Chongqing Expressway Group, one of the largest state-owned enterprises in China’s Chongqing with USD25 billion in assets. IL&FS Transportation Networks is an India-based surface transportation infrastructure company. ... Read More »

Biocon rises on reporting 64% jump in Q4 consolidated net profit

Mumbai : Biocon is currently trading at Rs. 620.60, up by 0.50 points or 0.08% from its previous closing of Rs. 620.10 on the BSE. The scrip opened at Rs. 629.00 and has touched a high and low of Rs. 629.00 and Rs. 612.70 respectively. So far 199932 shares were traded on the counter. The BSE group ‘A’ stock of ... Read More »

NHPC rises on entering into MoU with Indian Army

NHPC is currently trading at Rs. 23.40, up by 0.30 points or 1.30% from its previous closing of Rs. 23.10 on the BSE. The scrip opened at Rs. 23.45 and has touched a high and low of Rs. 23.60 and Rs. 23.10 respectively. So far 58865 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. ... Read More »

Dish TV gains on foraying into online Video on Demand segment

Dish TV India is currently trading at Rs. 36.40, up by 0.20 points or 0.55% from its previous closing of Rs. 36.20 on the BSE. The scrip opened at Rs. 36.20 and has touched a high and low of Rs. 36.70 and Rs. 36.00 respectively. So far 192771 shares were traded on the counter. The BSE group ‘A’ stock of ... Read More »

IndiGo awarded recognition of Top Airline by Absolute Passenger Growth

InterGlobe Aviation (IndiGo) has been named ‘Top Airline by Absolute Passenger Growth – South Asia’ by Singapore-based Changi Airport Group. In 2018, IndiGo’s traffic in Changi grew by more than 1,44,000 passengers, representing a rise of 57% as compared to 2017. With the stellar increase in traffic, IndiGo registered the strongest growth amongst all South Asian carriers operating in Changi ... Read More »

Tata Steel to merger Bamnipal Steel, Tata Steel BSL with itself

Tata Steel has received approval to merger Bamnipal Steel and Tata Steel BSL (formerly Bhushan Steel) into the Company by way of a composite scheme of amalgamation and have recommended a merger ratio of 1 equity share of Rs 10 each fully paid up of the Company for every 15 equity shares of each fully paid up held by the ... Read More »

Oriental Hotels to raise funds via NCDs

Oriental Hotels has received board’s approval to raise funds through issue of Non-Convertible Debentures or other debt securities on a private placement basis for raising funds during the financial year 2019 – 2020. The Board of Directors of the Company at its meeting held on April 25, 2019 has approved the same. Oriental Hotels is an India-based holding company. The ... Read More »

HCL Technologies launches CyberSecurity Fusion Center

HCL Technologies (HCL) has launched its CyberSecurity Fusion Center (CSFC) in Frisco, Texas. The opening of the CSFC represents the next phase in the company’s mission to support secure business growth by providing customers with a single point of contact for the enterprise security lifecycle, from detection to remediation. In addition, the CSFC reflects HCL’s commitment to the state of ... Read More »

SIS moves up on getting nod to acquire stake in SPAMRS

Security and Intelligence Services India is currently trading at Rs. 836.35, up by 1.40 points or 0.17% from its previous closing of Rs. 834.95 on the BSE. The scrip opened at Rs. 847.75 and has touched a high and low of Rs. 847.75 and Rs. 824.00 respectively. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 ... Read More »

Hindustan Zinc, A Great Place To Work With…

The company has been Great Place to Work-CertifiedTM by Great Place to Work Institute…  Hindustan Zinc, a Vedanta Group Company and India’s only & world’s leading integrated Zinc-Lead-Silver producer has beenGreat Place to Work-CertifiedTM by Great Place to Work Institute for building a high-trust, high-performance culture within the organization. The company has been certified from April 2019 – March 2020.  Hindustan Zinc’s ... Read More »

Zydus Cadila receives USFDA’s approval for Leflunomide Tablets

Zydus Cadila has received the final approval from the United States Food & Drug Administration (USFDA) to market Leflunomide Tablets USP (US RLD-Arava Tablets), 10 mg and 20 mg. It will be manufactured at the group’s formulations manufacturing facility at Baddi. This medication is used to treat rheumatoid arthritis, a condition affecting multiple small and large joints of the body. ... Read More »

Superspace Infrastructure gets nod to open corporate office in Kolkata

Superspace Infrastructure has received an approval to open a corporate office at 4, Netaji Subhash Road, Kolkata, West Bengal with effect from 24 April 2019. The Board of the Company at their meeting held on April 24, 2019, approved the same. Superspace Infrastructure (formerly, Surabhi Chemicals & Investments) was engaged in Investment and Chemicals and with the change in management ... Read More »

Mahindra & Mahindra Financial Services reports 87% rise in Q4 net profit

Mumbai : Mahindra & Mahindra Financial Services has reported results for fourth quarter and year ended March 31, 2019. The company has reported a rise of 87.02% in its net profit at Rs 587.97 crore for the quarter under review as compared to Rs 314.39 crore for the same quarter in the previous year. Total income of the company increased ... Read More »

Max India’s arm initiates ExYourExcuse campaign

Max India’s subsidiary — Max Bupa has initiated a month long integrated campaign ExYourExcuse, in order to nudge people, especially the youth, to take their health seriously by giving up on unhealthy habits and excuses that keep them from achieving their health goals. Max Bupa is urging people to take small steps towards leading a healthier and fitter lifestyle. Max ... Read More »

Ipca Laboratories to acquire stake in Ramdev Chemical

Mumbai : Ipca Laboratories has entered into a Share Purchase Agreement (SPA) to acquire 100% paid-up share capital of Ramdev Chemical, engaged in the business of manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients for cash Rs 108.50 crore. The acquisition of Ramdev Chemical will help the Company to grow its API ... Read More »

Bharti Infratel reports marginal rise in Q4 consolidated net profit

Mumbai : Bharti Infratel has reported results for fourth quarter and year ended March 31, 2019. The company has reported a rise of 16.19% in its net profit at Rs 389.00 crore for the quarter under review as compared to Rs 334.80 crore for the same quarter in the previous year. However, total income of the company decreased by 1.46% ... Read More »

IndiGo wins ‘Best Partnership Airline with Dubai Airport’ award: Report

InterGlobe Aviation (IndiGo) has reportedly won ‘The Best Partnership Airline with Dubai Airport’ award at the Dubai Airports Excellence Awards. At the award ceremony, Dubai airports honoured IndiGo along with other winners and business partners who have demonstrated their commitment to improve services and deliver exceptional customer experiences at Dubai airports. InterGlobe Aviation provides air transportation services in India and ... Read More »

Hindusthan Urban commences commercial production at Gwalior Plant

Mumbai : Hindusthan Urban Infrastructure has commenced commercial production at Gwalior Plant on small scale. The operation of Gwalior Plant was discontinued during January, 2018. Hindusthan Urban Infrastructure, together with its subsidiaries, manufactures and sells overhead conductors and electro-porcelain high tension (HT) insulators in India and internationally. WhatsApp Facebook Twitter Hindusthan Urban commences commercial production at Gwalior Plant appeared first ... Read More »

Maruti Suzuki to increase price of BALENO RS Petrol, Diesel variant

Mumbai : Maruti Suzuki India will increase the price of Baleno RS Petrol variant and Diesel variants with immediate effect. The company to increase the price of BALENO RS Petrol to Rs 8,88,913. Further, the company to hike the prices of BALENO Sigma Diesel to Rs 6,73,611, BALENO Delta Diesel to Rs 7,51,621, BALENO Zeta Diesel to Rs 8,12,921 and ... Read More »

IOC signs agreement with Adnoc

The UAE’s state-run oil company Abu Dhabi National Oil Company (Adnoc) has signed a long-term sales agreement with Indian Oil Corporation (IOC) for its high-quality base oil ADbase. Indian Oil will use the ADbase oils to manufacture high-end engine oils for India’s growing automotive sector. IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 ... Read More »

Sterlite Technologies gets nod to raise funds up to Rs 1000 crore via NCDs

Mumbai : Sterlite Technologies has received an approval for issue of Non-Convertible Debentures (NCDs) of up to Rs 1000 crore. The Board of Directors of the Company at their meeting held on April 23, 2019, approved the same. The Board has also given approval for raising of funds, inter alia, by issue of equity shares, any financial instruments and/or security ... Read More »

Indian Overseas Bank reduces loss incurring branches to 157 from 742

Indian Overseas Bank (IOB) has cut down the number of loss incurring branches to 157 as on March 2019, from 742 branches in March 2015. The reduction in the number of loss incurring branches can be attributed to the continuous efforts taken by the bank towards reduction of operating expenditure and improving overall operational efficiency. Indian Overseas Bank is a ... Read More »

Coromandel International reports 23% rise in Q4 consolidated net profit

Coromandel International has reported results for fourth quarter and year ended March 31, 2019. The company has reported a rise of 25.59% in its net profit at Rs 107.23 crore for the quarter under review as compared to Rs 85.38 crore for the same quarter in the previous year. Total income of the company increased by 8.66% at Rs 2,642.41 ... Read More »

Britannia Industries to discontinue job work contract with Shah Foods

Shah Foods has received a letter from Britannia Industries stating that the job work contract is terminated with effect from June 30, 2019. The Board of Directors of the company have approached the concerned persons with Britannia Industries and are trying their best to renew /continue the job work contract. Shah Foods is engaged in the food processing business. The ... Read More »

Indiabulls Housing Finance reports 7% fall in Q4 consolidated net profit

Mumbai : Indiabulls Housing Finance has reported results for fourth quarter and year ended March 31, 2019. The company has reported a fall of 12.44% in its net profit at Rs 875.39 crore for the quarter under review as compared to Rs 999.71 crore for the same quarter in the previous year. Total income of the company decreased by 7.32% ... Read More »

Som Datt Finance gets nod to sell 99.99% stake of wholly owned subsidiary

Som Datt Finance Corporation has received an approval to sell 5,10,000 equity shares (99.99% of total paid up capital) of Som Datt Infosoft, a wholly owned subsidiary company (Non-material) of the Company, to Som Datt Securities. The Board of Directors of the Company at their meeting held on April 24, 2019, approved the same. Som Datt Finance Corporation is engaged ... Read More »

Speedcast International signs partnership agreement with Nelco

Speedcast International has signed a partnership agreement with Nelco to offer seamless global communications while at sea in Indian waters. In this partnership, the company will also extend to its customers Speedcast’s industry-leading products and services, which include cybersecurity, crew welfare, content solutions and data and voice applications. Under this agreement, Speedcast will integrate with the company’s network to allow ... Read More »

SIS to acquire stake in SPAMRS

Security and Intelligence Services (SIS) has received approval for the acquisition of shares in SIS Prosegur Alarm Monitoring and Response Services (SPAMRS) from Singpai Alarms. The acquisition is expected to complete in April 2019. The Company is currently a 50% shareholder in SPAMRS and this acquisition would result in SPAMRS becoming 100% subsidiary of the Company. It is expected that ... Read More »

Khadim India issues Commercial Papers worth Rs 30 crore

Khadim India has issued the Commercial Paper for an aggregate amount of Rs 30 crore on April 24, 2019 and having maturity date on July 23, 2019. Khadim India operates as a footwear retailer in India under the brand Khadim’s. It also engages in the manufacture and sale of footwear. The company operates approximately 260 retail outlets in 22 states. ... Read More »

Allahabad Bank allots shares worth Rs 6896 crore to govt

Allahabad Bank has issued and allotted 162,48,82,186 new equity shares of face value of Rs 10 of the Bank on preferential basis to the Government of India (President of India) at an Issue Price of Rs 42.44 per equity share including a premium of Rs 32.44 per equity share aggregating to Rs 6895,99,99,973.84 against their capital infusion of Rs 6896.00 ... Read More »

Tata Elxsi rises on reporting marginal rise in Q4 net profit

Mumbai : Tata Elxsi is currently trading at Rs. 932.85, up by 2.55 points or 0.27% from its previous closing of Rs. 930.30 on the BSE. The scrip opened at Rs. 930.00 and has touched a high and low of Rs. 934.85 and Rs. 924.10 respectively. So far 12300 shares were traded on the counter. The BSE group ‘A’ stock ... Read More »

BEML soars on joining hands with Syndicate Bank

Mumbai : BEML is currently trading at Rs. 905.90, up by 4.55 points or 0.50% from its previous closing of Rs. 901.35 on the BSE. The scrip opened at Rs. 910.00 and has touched a high and low of Rs. 921.55 and Rs. 904.85 respectively. So far 58957 shares were traded on the counter. The BSE group ‘A’ stock of ... Read More »

Announcing The Launch Of The All New Backhoe Loader, Tata Hitachi Shinrai

Udaipur : Following highly successful launches in the Southern markets, Chhattisgarh, Jharkhand, Vidharbha, Nagpur, Bihar, Orissa, West Bengal, Varanasi, Faridabad and Jodhpur, Tata Hitachi launched the all new backhoe loader, TATA HITACHI SHINRAI in Udaipur , Rajasthan today . A revolutionary new offering from Tata Hitachi, SHINRAI is designed and manufactured on the key tenets of capability and reliability. An ... Read More »

Ultratech Cement reports over 2-fold jump in Q4 consolidated net profit

Mumbai : Ultratech Cement has reported results for fourth quarter and year ended March 31, 2019. The company has reported 2-fold jump in its net profit at Rs 1,017.47 crore for the quarter under review as compared to Rs 487.95 crore for the same quarter in the previous year. Total income of the company increased by 18.45% at Rs 10,640.41 ... Read More »

Tata Elxsi reports marginal rise in Q4 net profit

Mumbai : Tata Elxsi has reported results for fourth quarter and year ended March 31, 2019. The company has reported a marginal rise of 1.42% in its net profit at Rs 71.29 crore for the quarter under review as compared to Rs 70.29 crore for the same quarter in the previous year. Total income of the company increased by 6.35% ... Read More »

Surya Roshni soars on obtaining order worth Rs 231.18 crore

Mumbai : Surya Roshni is currently trading at Rs. 251.10, up by 4.35 points or 1.76% from its previous closing of Rs. 246.75 on the BSE. The scrip opened at Rs. 247.50 and has touched a high and low of Rs. 253.65 and Rs. 243.90 respectively. So far 8400 shares were traded on the counter. The BSE group ‘B’ stock ... Read More »