Tag: industry

Godrej Industries up 4% as arm gets Sebi nod for IPO

Godrej Industries up 4% as arm gets Sebi nod for IPO

12/09/2017 12:46

Shares of Godrej Industries jumped over 4 on the Bombay Stock Exchange after its arm Godrej Agrovet got Sebi’s approval to raise nearly Rs 1,000-1,200 crore through public listing of stocks.

Cheering the news, shares of the company gained as much as 4.20 per cent to hit an intra-day high of Rs 658.35 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 2.83 per cent higher at Rs 649.30 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,049.22, up 167.06 points, or 0.52 per cent, at 12:50 hours.

Advertisements

Ajanta Pharma bags approval for Entacapone Tablets

04/09/2017 11:03

Leading pharma major, Ajanta Pharma Limited has said that it has received final approval for Entacapone Tablets from US FDA. It is a bioequivalent generic version of Comtan®1 Tablets. Company will be launching the product shortly in 200mg strength tablets.

“Entacapone Tablets is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 35 Abbreviated New Drug Application (ANDA) of which it has final approvals for 20 ANDAs; tentative approvals for 2 ANDA; and 13 ANDAs are under review with US FDA,” the company said in a filing to the Bombay Stock Exchange.

Ajanta Pharma Limited is a specialty pharmaceutical formulation company with global headquarters in Mumbai, India. Over 6,500 employees are engaged in developing, manufacturing and marketing of quality finished dosages across 30+ countries.

Meanwhile, shares of the company were trading at Rs 1202.10 apiece, up 0.10 per cent from the previous close at 11:08 hours on BSE.

Infosys hits fresh 52-week low

Infosys hits fresh 52-week low

22/08/2017 12:05

Shares of Infosys extended losing momentum on Tuesday and fell over 1 per cent, hitting fresh 52-week low, on the Bombay stock Exchange as some of rating agencies downgraded stock following chief executive officer Vishal Sikka’s shocking exit.

Extending previous session losses, shares of the company declined as much as 1.37 per cent to hit 52-week low of Rs 861.50 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 871.55 against previous close price of Rs 873.50.

Paring early losses, shares of the company were trading 0.22 per cent higher at Rs 875.30 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 31,359.04, up 100.19 points, or 0.32 per cent, at 12:05 hours.

More than 50% people unaware about GST: Survey

More than 50% people unaware about GST: Survey

06/07/2017 13:59

A survey by a mobile news application company has claimed that more than half of people in the country are unaware of the Goods and Services Tax.

As per reports, the survey of over 3.6 lakh people across the country found that two Telugu speaking states of Andhra Pradesh and Telangana have the highest awareness on the GST with over 64 per cent of population knowing about it.

According to the survey, people in Tamil Nadu had the lowest awareness level.

Commenting on the issue, Way2Online said, “Following an extensive research, the report concludes that less than half the population of India; 45 per cent to be precise, is aware of the new tax system. The remaining 55 per cent is unaware of what GST is.”

As per reports, Way2Online, a local language short news application, conducted this survey between June 26-30 with over 3,60,000 participants across the country.

The new tax regime, which became effective from July 1, aims to put an end to number of indirect taxes levied on goods and services and stop duplication of taxes over a product.

GST Impact: Tata Motors slashes passenger vehicle prices

GST Impact: Tata Motors slashes passenger vehicle prices

05/07/2017 12:02

Automaker Tata Motors said that it has reduced prices of its passenger vehicles by up to Rs 2.17 lakh, making available the GST benefit to its customers.

“Following the rollout of GST, we have decided to pass on the entire benefit to our customers. We are offering a price reduction of up to 12 per cent ranging between Rs 3,300 and Rs 2,17,000, depending on the model and variant,” Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek said in a filing to the Bombay Stock Exchange.

The company “whole-heartedly” welcomes the initiative by the Union government for introducing GST and bringing in a uniform tax across the country, he added.

“This will enhance the ease of doing business and usher in a new era for the economy in general and especially, for the automotive industry,” Pareek said.

Meanwhile, shares of the company were trading at Rs 431.70 apiece, up 0.95 per cent from the previous close at 12:10 hours on BSE.

Godrej Prop to develop new group housing project in Gurgaon

Godrej Prop to develop new group housing project in Gurgaon

03/07/2017 17:34

Real estate developer Godrej Properties Ltd on Monday said it has added a new group housing project in Gurgaon.

In a filing to the Bombay Stock Exchange, the company said, “Godrej Properties adds a new residential project in Gurgaon.”

This project will offer approximately 98,000 square meters (approximately 1.05 million square feet) of saleable area and will be developed as a modern group housing development, it added.

The company further said that, the project is located just 5 kms from NH 8 and is easily accessible via a network of main sector roads.

Commenting on the development, Godrej Properties, Executive Chairman, Pirojsha Godrej said, “This fits with our strategy of building our presence in the country’s leading real estate markets. We look forward to delivering an outstanding project.”

Meanwhile, shares of the company closed at Rs 523.35 apiece, up 0.74 per cent, from previous close on BSE.

L&T Construction bags Rs 2,552 cr orders

L&T Construction bags Rs 2,552 cr orders

27/06/2017 12:28

Country’s leading multinational conglomerate Larsen & Toubro Ltd on Tuesday said that its construction arm, L&T Construction, has secured orders worth Rs 2,552 crore across its transportation infrastructure business and water effluent treatment business segments.

“The construction arm of L&T has won orders worth Rs 2,552 crore across its various business segments,” the company said in a filing to the Bombay Stock Exchange on June 27, 2017.

It’s transportation infrastructure business and water effluent treatment business segments jointly bagged Rs 1,223 crore EPC order from Aurangabad Industrial Township Ltd (AITL) for construction of roads, drains, bridges, potable water network, sewage and common effluent treatment plants, sewerage and recycled water network, firefighting system and power distribution system including GIS substation, in the Bidkin industrial area of Aurangabad, the company said in a statement.

Besides, the company’s water effluent treatment business has also received another EPC order worth Rs 1,329 crore from Mumbai Metropolitan Region Development Authority for implementation of Surya Regional Bulk Water Supply Scheme for western sub region of Mumbai, it added.

The scope of work includes construction of intake structures, a 419 MLD water treatment plant, a clear water pump-house along with associated electro mechanical & instrumentation works, pipeline network, tunnels and storage structures at Mira Bhayandar & Vasai Virar, it said.

Meanwhile, shares of the company were trading at Rs 1,699.15 apiece, down 1.39 per cent, from previous close on BSE at 12:32 hours.

MindTree board to consider buyback of equity shares

MindTree board to consider buyback of equity shares

22/06/2017 16:22

Mindtree, an Indian IT and outsourcing company, on Thursday said that its board would consider the proposal to buyback the fully paid-up equity shares of the company.

“A meeting of the board of directors of the company will be held on June 28, 2017 to consider the proposal to buyback the fully paid-up equity shares of the company,” said Mindtree in a filing to the Bombay Stock Exchange.

Further, pursuant to company’s code for prevention of insider trading, the trading window of the company will be closed from June 26, 2017 to June 30, 2017 (both the days inclusive) for the designated Persons and others, it informed the exchange.

Meanwhile, shares of company closed day’s trade at Rs 520.35 apiece, up 0.21 per cent, on the BSE.

CG Power and Industrial Solutions to sell its US power biz

CG Power and Industrial Solutions to sell its US power biz

21/06/2017 12:17

CG Power and Industrial Solutions Ltd, formerly known as Crompton Greaves, on Wednesday said it has accepted the binding offer of Weg SA for acquisition of the company’s power business in USA at an enterprise value of USD 37 million.

In a filing to the Bombay Stock Exchange, CG Power and Industrial Solutions said, “The company has accepted a binding offer of WEG S.A for acquisition of the company’s power business in USA comprised in the company’s step down overseas subsidiary, CG Power USA Inc. (PSUS), at an enterprise value of USD 37 million.”

“In this regard CG Power Systems Belgium N.V., the company’s step down overseas subsidiary has executed a Stock Purchase Agreement (SPA) on June 20, 2017 with WEG Electric Corp for sale of its 100 per cent stake in PSUS, comprising exclusively of the company’s power business at closing,” it added.

Further, the SPA is expected to close by July 31, 2017 upon which CG Power USA Inc. will cease to be an overseas subsidiary of the company, it said.

The copany further added that, the move is part of the company’s stated strategy of debt reduction and on focusing on its core operations and core market in India. Meanwhile, shares of the company were trading at Rs 85.10 apiece, up 0.35 per cent, from previous close on BSE at 12:22 hours.

BSE SME platform receives 214 draft prospectus

BSE SME platform receives 214 draft prospectus

20/06/2017 12:06

BSE’s small and medium enterprise (SME) platform seems to be generating significant interest from investors with as many as 214 firms filing draft papers to raise funds through IPOs since the launch of the segment, nearly five years ago.

Out of 214 companies, 183 of them are already listed and have raised Rs 1,440 crore from the market. Currently, these firms have a market capitalisation of Rs 18,832 crore.

Of these 183 firms listed on BSE SME platform, 29 have migrated to BSE main board. Asia’s oldest bourse is the leader in this segment with more that 80 per cent market share.

Moreover, a total of 26 SMEs are expected to launch their initial public offerings soon.

BSE had launched its SME platform in March 2012 and since then, several companies have got listed on them and some have even shifted to the main board.

The platform provides opportunity to SME entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.

“BSE’s SME has become the first SME platform in India where 214 companies have filed their prospectus for getting listed,” the exchange said in a statement issued today.

Indian SME sector has emerged as a highly vibrant and dynamic sector of the economy over the past few years. SMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialisation of rural areas.