Blog Page 2

All eyes on RCom’s tower & fiber optic businesses

Leading telcom companies and PE funds interested in mobile tower and the fibre optic assets of Reliance Communication (RCom) that are up for sale. RCom, debt of 40,000 crore, able to garner 17,000 crore by monitising its tower, fiber and spectrum assests and 10,000 crore from sales of Real Estate.It has also suggested that the bankers convert around 7,100 crore of their loans into equity by which they would have a 51% stake in RCom.

Bharat Forge Q2 profit jumps 61% to Rs 204 cr, EBITDA up 49%

Revenue from operations jumped 41.2 percent to Rs 1,258.02 crore, compared with Rs 890.89 crore in corresponding quarter.Profit for the quarter increased to Rs 203.72 crore from Rs 126.89 crore in year-ago.Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) surged 49.4 percent year-on-year to Rs 370 crore and margin expanded by 160 basis points to 29.4 percent for quarter ended September 2017.

Oriental Bank of Commerce posts Q2 net loss at Rs 1,750 cr as provisions increase 4-fold

Other income (non-interest income) spiked 81.55 percent to Rs 1,059.24 crore and operating profit jumped 62.3 percent to Rs 1,551.4 crore compared with same quarter last fiscal. The bank had reported profit at Rs 153.3 crore year-ago quarter. Net interest income during the quarter fell 4.9 percent to Rs 1,251.7 crore year-on-year, with loan growth of 4.8 percent at Rs 1.49 lakh crore. NPAs were lower at 9.44 percent from 9.56 percent QoQ.

Bajaj Auto's Eric Vas sees market share reaching 23-25% by March

In domestic market, with around 19 percent it headed towards 23-25 percent because we have done very well over this season. We had tremendous retailing in excess of what we have invoiced to dealers good momentum going into the third quarter. We need to look what the industry is like but I do expect our market to be around 25 percent. On the back of Pulsar NS200 and NS160 doing very well.

Maruti Suzuki may aim for 2.5 million car sales by 2023

Maruti Suzuki would look to achieve annual sales of 2.5 million cars by 2023 once it achieves the milestone of 2 million cars per year by 2020, Chairman RC Bhargava. Maruti Suzuki, a 56.21 percent subsidiary of Japan’s Suzuki Motor Corporation, sold 1.56 million vehicles (domestic plus export) in the last financial year. During the first seven months (April-October) of the FY18, India’s largest passenger carmaker sold 1,033,135 vehicles

Airtel updates Rs 349 plan; offers 1.5GB per day validity of 28 days

Airtel is offering 1.5GB per day data with unlimited local, STD calls and 3000 text message.However, Reliance Jio is still offering a validity of 70 days with unlimited calls and text messages. Airtel calls are capped at 250 minutes a day or 1000 minutes a week  beyond this  a levy of 10p per min for Airtel to Airtel calls and 30p per min for other network.The offer can be availed by using Airtel's application.

Biyani is looking to take FMCG revenues from Rs 1,800 crore to Rs 20,000 crore by 2021

Biyani said that his group looking FMCG revenues from Rs 1,800 crore to Rs 20,000 crore by 2021 and 70 per cent of FMCG sales will come from his own brands.Future Consumer Limited India’s first sourcing-to-supermarket food company by Future Group. Under FCL’s spectrum, the company sources best quality commodities from world over, comprises of extensive portfolio of established brands in food and HPC space.

India to be high-middle income country by 2047: World Bank CEO

India at the 100th place - a 30-notch jump over the previous ranking in ease of doing Business. World Bank CEO Kristalina Georgieva said a jump of this nature is “very rare since the beginning of the survey 15 year ago”. “It is particularly rare when we talk about size of India. I understand that in a cricket-loving nation hitting a century is a very important milestone,” she said.“We know that there is a very strong condition that extreme poverty would be history in India. Extraordinary achievements in the last three decades, the per capita income has quadrupled,” she said. -Indianexpress

Indianomics Special: Desired Framework Of Recap Bonds : CNBC TV18

Latha Venkatesh in special chat with expert panel to discuss recap bonds; The structure, lock-in period and whether government should capitalise PSU banks with rights issue. Indianomics Special: Desired Framework Of Recap Bonds : CNBC TV18

Twenty Two Motors aims to sell 50,000 electric scooters after its launch

Gurgaon-based electric vehicle startup showcased its electric scooter named ‘Flow’ to be launched in the Auto Expo 2018, aims to sell 50,000 units in the first year. “We are confident. The charging anxiety is not there can remove the scooter battery and charge out from 5 Ampere socket. The scooter goes up to 80 km on a single charge have to charge only twice or thrice in a month," said Kharb, Co-Founder & CEO

Torrent to acquire Unichem’s India, Nepal businesses for Rs 3,600 crore

Torrent's fifth acquisition in India after acquiring the selected brands of Elder and Novartis, as well as manufacturing plants from ZygPharma and Glochem Industries Ltd. in the last four years. Unichem's India business comprises of a portfolio of more than 120 brands in India and Nepal, manufacturing plant at Sikkim catering to these markets and all the employees engaged in the said business.

LIC ups stake in colgate palmolive India to over 7%

Life Insurance Corporation (LIC) of India has acquired 2.021% stake in FMCG( fast moving consumer goods ) firm Colgate Palmolive India through open market purchase, taking the total holding in the company to 7.037%. The Insurance behemoth earlier had 5.016% stake in Colgate Palmolive India,the FMCG company said in a regulatory filing. LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in Colgate Palmolive India.