Welspun to expand operations in infrastructure

Welspun Enterprises Ltd., formerly Welspun Projects Ltd., part of the US$ 2.3 billion Welspun Group, has said that it is planning to expand its operations in infrastructure and to apply for NBFC (Non-Banking Financial Company) licence. “In the infrastructure space, WEL has agreed to acquire 49 per cent stake in two NHAI Hybrid Annuity Model (HAM) projects from MBL Group, subject to necess

International Paper Quarterly Result net jumps 55% at Rs 23.85 cr

Net sales of the company rose moderately by 12.93 per cent at Rs 326.79 crore for the quarter ended June 30, 2017 as against Rs 289.37 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 3.58 per cent to Rs 268.77 crore from Rs 259.49 in year ago period. Other Income dipped by 81.08 per cent at Rs 0.42 crore versus (Jun'16 Rs 2.22 crore).

Delta Corp Quarterly result net up 11.70% at Rs 18.81 cr

Net sales of the company rose moderately by 12.05 per cent at Rs 80.36 crore for the quarter ended June 30, 2017 as against Rs 71.72 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 18.68 per cent to Rs 49.99 crore from Rs 42.12 in year ago period. Other Income grew by 319.10 per cent at Rs 3.73 crore versus (Jun'16 Rs 0.89 crore).

Justdial announces Rs 84 cr share buyback offer

Local search engine Justdial today said it will buyback equity shares for up to Rs 84 crore from its shareholders at a price not exceeding Rs 700 per share. In a regulatory filing, Justdial said its Board of Directors "considered and approved the proposal to buyback of the company's fully paid-up equity shares" from its shareholders from the open market.

The company will

Unichem Labs gets USFDA nod for hypertension drug

Unichem Laboratories said that it has received approval from the US health regulator for Losartan Potassium and Hydrochlorothiazide tablets USP, 50mg/12.5 mg, 100mg/12.5 mg and 100 mg/25 mg. This drug is therapeutically equivalent to Hyzaar tablets of Merck Sharp & Dohme Corporation, the company said in a filing to Bombay Stock Exchange.

Losartan Potassium and Hydrochlorothiazide

Sical Logistics to acquire PNX Logistics

Sical Logistics said that it has entered into an agreement with PNX Logistics Private Limited for acquisition of the express logistics business. “A share purchase agreement has been executed by the Company for the acquisition of PNX Logistics,” the company said in a filing to the Bombay Stock Exchange.

“Since Sical Logistics Limited is engaged in providing integrated

Glenmark Pharma bags approval for Desonide Cream

Leading pharma major, Glenmark Pharmaceuticals has said that it has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Desonide Cream, 0.05%, the generic version of Desonide Cream, 0.05% of Perrigo New York Inc. According to IMS Health sales data for the 12 month period ending May 2017, the Desonide Cream, 0.05% market1 achieved annual sales of approx

HDFC Bank Quarterly Result net jumps 20% at Rs 3,884

Private sector lender HDFC Bank has reported a growth of 20.22 per cent in its net profit at Rs 3,893.84 crore for the first quarter ended June 30, 2017. “The bank had registered net profit of Rs 3,238.91 crore in the April-June quarter of the previous fiscal, HDFC Bank said in a filing to the Bombay Stock Exchange on Monday. The total income of the bank rose by 14.82 per cent to Rs 22,18

Micromax unveils 'Yu YUNIQUE 2' at Rs 5,999

 Micromax's sub-brand YU Televentures on Tuesday launched its budget smartphone Yu Yu 'Yu YUNIQUE 2' with Android Nougat at Rs 5,999.

'YUNIQUE 2' will start retailing exclusively on e-commerce site Flipkart.com beginning July 27.

The handset comes integrated with Truecaller that gives caller ID and spam protection features.


Volvo`s electric stance may clean up car act

Unless the runaway growth of automobiles run on fossil fuels eases off, particularly in China and India, carbon dioxide emissions from cars and motorbikes will continue well into the latter half of the 21st century. It is in this context that the announcement by Volvo to phase out cars powered by petrol and diesel assumes importance. It could be the beginning of the end of the internal combusti

Lupin bags approval for Fluocinonide Topical Solution

Pharma Major Lupin Limited (Lupin) has said that it has received final approval for its Fluocinonide Topical Solution USP, 0.05 per cent from the United States Food and Drug Administration (FDA) to market a generic version of County Line Pharmaceuticals, LLC’s Fluocinonide Topical Solution USP, 0.05 per cent.

“Lupin’s Fluocinonide Topical Solution USP, 0.05% is AT ra

Hindustan Copper signs MoU with MIDHANI

Hindustan Copper Limited (HCL) has said that it has signed a Memorandum of Understanding (MoU) with Mishra Dhatu Nigam Limited (MIDHANI), a CPSE under the Ministry of Defence at HCL Corporate Office, Kolkata, on 22nd July 2017, for a joint collaboration in area of production of Copper Nickel tubes and related items. “This will promote "Make in India" Initiative and create signif

Ashok Leyland bags order worth Rs 650 cr from KSRTC

Hinduja group flagship firm Ashok Leyland has said that it has bagged an order worth Rs 650 crore for 3,019 buses from Kerala State Road Transport Corporation (KSRTC). This order will fulfil requirements from KSRTC and its subsidiaries such as North Western Karnataka Road Transport Corporation (NWKRTC), Bangalore Metropolitan Transport Corporation (BMTC) and North Eastern Karnataka Road Transpo

India`s UPL explores bid for Platform Specialty agrochem unit - sources

 Indian agrochemicals producer UPL Ltd is exploring a bid of more than $4 billion for the agrochemicals business of Platform Specialty Products Corp to expand its global footprint, according to people familiar with the matter.

The bid would challenge a rival offer for the unit by a private equity consortium of Blackstone Group LP and CVC Capital Partners Ltd, the sources said on

Tata Communication net profit down 22% in Querterly Result

 Tata Communications on Monday reported a 22.27 percent fall in its consolidated net profit at Rs 32.94 crore in the quarter ended June 30, as compared to Rs 42.38 crore in the year-ago period.

Its total income also fell by 4.34 percent to Rs 4,354.39 crore during the quarter under review from Rs 4,552.30 crore in the same period a year ago.

"On a year-on

Nifty edges down after crossing 10,000 points for 1st time


The NSE Nifty inched down on Tuesday, after earlier breaching 10,000 points for the first time as hopes of better corporate results, accelerating economic growth and government reforms feed a strong markets rally this year.

The index closed 0.02 percent lower at 9,964.55, after earlier gaining as much as 0.45 percent to a record high of 10,01

$23 bn investment planned in KG Basin oil, gas fields

Oil and gas fields in the Krishna Godavari (KG) Basin in India's eastern offshore would attract investment of about $23 billion for these hydrocarbons' exploitation, Parliament was informed on Monday.

"The operators of blocks/fields in KG basin under Production Sharing Contract (PSC) regime and nomination fields have submitted DoC (Declaration of Commerciality)/FDP (

Vodafone-Idea merger gets CCI approval

The Competition Commission of India (CCI) has given approval for the Vodafone-Idea merger.

According to sources, the CCI has sent approval letters to both Idea Cellular and Vodafone India.

Vodafone India and Aditya Birla Group-promoted Idea Cellular on March 20 announced their much-awaited amalgamation.

Kumar Mangalam Birla, Chairman of the Aditya Birla Group, will

Ashok Leyland bags Karnataka order for over 3,000 buses

 Hinduja Group's flagship company Ashok Leyland on Monday said that it has bagged an order for 3,019 buses worth Rs 650 crore.

According to the company, the order has come from the Karnataka State Road Transport Corporation (KSRTC).

"This order, one of the largest from a state transport undertaking for a single OEM (original equipment manufacturer), w

Ambuja Cements June-quarter consolidated profit rises 12 percent

Ambuja Cements Ltd, part of the world's No.1 cement producer LafargeHolcim Ltd, posted an about 12 percent increase in quarterly consolidated net profit on Monday, boosted by higher cement sales volume.

Consolidated net profit rose to 7.18 billion rupees ($111.59 million) in the quarter ended June 30 from 6.42 billion rupees a year earlier, the cement maker said in a statement.

Bharti Infratel first-quarter consolidated profit falls about 12 percent, misses estimates

Telecom tower infrastructure provider Bharti Infratel Ltd on Monday said its consolidated profit fell about 12 percent in the first quarter, hurt by higher tax expenses.

Consolidated profit after tax for the three months ended June 30 came in at 6.64 billion rupees ($103.20 million), while total income grew about 9 percent to 16.07 billion rupees. (http://bit.ly/2tTdu3E)


Mahindra and Mahindra Finnance Services standalone Quarterly Result net down 45.52%

Net sales of the company rose moderately by 16.54 per cent at Rs 1,592.37 crore for the quarter ended June 30, 2017 as against Rs 1,366.43 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 47.38 per cent to Rs 795.74 crore from Rs 539.92 in year ago period. Other Income grew by 15.78 per cent at Rs 10.71 crore versus (Jun'16 Rs 9.25 crore).

Wendt India standalone Quarterly Result net down 55.87%

Net sales of the company declined by 0.46 per cent at Rs 30.07 crore for the quarter ended June 30, 2017 as against Rs 30.21 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 5.92 per cent to Rs 27.02 crore from Rs 25.51 in year ago period. Other Income grew by 27.03 per cent at Rs 0.47 crore versus (Jun'16 Rs 0.37 crore). Operating Profit

India sets up panel to revive loss-making steelmaker SAIL: minister

NEW DELHI- India has set up a panel to turn around loss-making Steel Authority of India Ltd (SAIL) and help the state-owned company increase production, Minister of State for Steel Vishnu Deo Sai said in the lower house of Parliament on Monday.

Reuters reported in March that an expert panel was set up to revive SAIL after a government review found the company to be fa

KKR to buy WebMD in $2.8 bln deal

Online health publisher WebMD Health Corp said on Monday it agreed to be bought by private equity firm KKR & Co in a deal valued at about $2.8 billion.

The deal brings together WebMD's websites, such as WebMD.com, Medscape.com and MedicineNet.com, and those owned by KKR unit Internet Brands Inc, including DentalPlans.com and AllAboutCounseling.com.

KKR will pay $66.5