Mahindra Lifespace, HDFC Capital JV launch affordable housing
Realty firm Mahindra Lifespace Developers and HDFC Capital Advisors will develop their first joint affordable housing project at Palghar in Maharashtra with apartments in the range of Rs 8-24 lakh. In October last year, Mahindra Lifespace partnered HDFC Capital Affordable Real Estate Fund-1 (HDFC Capital) to create Rs 500 cr platform for development of affordable housing projects across the country. Mahindra yesterday said in a statement that the company has launched 'Happinest - Palghar' - the first affordable housing project to be undertaken by the joint platform.
Nestle India settles 4 pc up, mcap soars by Rs 3,000 cr
Shares of Nestle India yesterday gained over 4% adding Rs 2,998.52 cr to its market capitalisation on the back of good quarterly results. The company's shares surged to an intra-day high of Rs 7,640.00, but lost some ground and ended at Rs 7,571.10, up 4.28%. Following an uptick in the counter, the market capitalisation of the company improved by Rs 2,998.52 cr to Rs 72,997.30 cr. The FMCG major on Tuesday reported an increase of 59.57% in its net profit to Rs 311.83 cr for the fourth quarter ended December 2017, led by volume growth. The company also noted that it has crossed the Rs 10,000-cr sales mark in 2017, joining a select group of publicly-listed FMCG companies in the country which have crossed the milestone.
JPS Fashions plans to expand its chain of multi brand outlets
JPS Fashions, a reputed name in textile manufacturing and having 7 Multi brand retail stores in Mumbai and Baraoda, opened its 8th Multi Brand Retail outlet on Feb 13, 2018 at Andheri. This Store offers Raymond and Reid & Taylor clothing as well as readymade garments of AlbertinoZoio. The store was inaugurated by MLA Naseem Khan in the presence of Bhopal Singh Galundia, Managing Director of the Company. The existing business of the Company consists of Manufacturing of Linen fabrics, Trouser fabrics &suiting with a customer base spread across Pan India. The Company supplies uniform to various hospitals as well as authorized distributors & institutional suppliers of Raymond, Reid & Taylor. The Company also supplies its products to various pharmaceutical & IT Companies in Mumbai and South India.
Rajoo Engineers hits upper circuit on strong Q3 results
Rajoo Engineers Ltd has announced its unaudited results for the quarter ended 31th December 2017. Profit After Tax was at Rs. 6.90 cr in Q3 FY18 as against Rs. 0.51 cr in the corresponding previous quarter. PAT margins increased to 14.57% from 3.10% in corresponding previous period. Revenue from operations in Q3FY18, Rs. 46.97 cr as against Rs. 16.14 cr in the corresponding previous quarter. Commenting on the recent development, Khushboo Chandrakant Doshi, Executive Director, Rajoo Engineers Limited said, “With sales of high value products we have significant improvement in our EBIDTA margins. I am also happy to share that our Company has received the prestigious DSIR approval for our in-house R&D Center. Our R&D center is dedicated to its customers offering total and customized solution. We endeavour to grow by moving to complete in-house manufacturing of critical components, with enhanced precision, adding to our product offerings and increasing our penetration in the key markets of India, Latin America, Asia Pacific & Middle East.”
International Dental Show In Abu Dhabi
The Indian Dental Association (IDA), the second-largest dental association in the world has tied up with Al Fajer Information & Services, the leading UAE-based exhibition and conference organiser to hold the inaugural edition of the Arab International Dental Conference & Exhibition - Gulf Dentex 2018 from October 22 to 24 at the Abu Dhabi National Exhibitions Company (ADNEC). Gulf Dentex 2018 Scientific programme will host over 60 international speakers and 1000 delegates, while the exhibition will feature 250 exhibitors from 25 countries. Dr Ashok Dhoble, Honorary Secretary-General of the IDA, said, “Gulf Dentex 2018 aimst to bring not only healthcare providers but the entire spectrum of oral healthcare under one roof. The global dental sector itself in 2016 was worth US $ 25.45 billion and is expected to reach US $ 35.35 billion by 2021.”
Benefits of AI on employment outweigh concerns: Report
The impact of artificial intelligence (AI) on employment is expected to be severe, but the benefits outweigh its concerns as it would lead to improved efficiency and cost saving, says a PwC India report. According to the report titled "Artificial Intelligence- Hype or Reality", about 68% of Indian business decision-makers believe AI will help their business in various ways such as boosting productivity, generating growth and addressing societal issues.
Sunteck Q3 profit jumps over two fold to Rs 55.66 cr
Sunteck Realty has reported over two-fold jump in its consolidated net profit at Rs 55.66 cr for the quarter ended December 2017 on higher sales revenue. Its net profit stood at Rs 20.6 cr in the year-ago period, the company said in a regulatory filing. Total income also increased sharply to Rs 204.9 cr in the third quarter of this fiscal from Rs 90 cr in the corresponding period of the previous year. "Sunteck has delivered a robust financial performance during this third quarter of FY2018. The improvement in market sentiments with a traction for our BKC projects has led not only to strong growth but also notable improvement in margins," the company's MD Kamal Khetan said.
Share India Securities Q3 net profit rises to Rs. 5.62 cr
Share India Securities Ltd, has reported strong financial performance for the third quarter ended 30 December 2017. The company’s net profit for Q3FY18 stood at Rs. 5.62 cr and total revenue stood at Rs 39.55 cr. For the 9 month ending Dec 30, 2017 Company’s PAT stood at 12.10 cr and total revenue stood at 97.81 cr. The Company had reported Net Profit of Rs 8.08 cr and total revenue of Rs 110.14 cr in the last fiscal ending March 31, 2017. Commenting on the financial performance of the Company Sachin Gupta, Whole Time Director, Share India Securities Ltd. said, “As a business strategy Share India focused on improving the bottom line, margins and moved into newer strategic markets. We are confident of achieving our growth targets as the Company is aggressively targeting new clients and customers in high income markets as well as tier 1 and tier 2 cities.”