The BSE Sensex opened 102.54 points, or 0.37 per cent, up at 27776.14, while NSE Nifty opened 29.55 points, or 0.34 per cent, up at 8,612.95.
Results today: DHFL, HIL, Orient Paper, Ultratech Cement, Lakshmi Vilas Bank, Dynamic Archistructures and Bharat Seats will announce their financial results for the quarter ended September 30, 2016 on Monday.
DCB Bank: DCB Bank registered a 31.30 per cent increase in net profit at Rs 48.9 crore for the quarter ended on September 30, 2016. The bank had recorded a net profit of Rs 36.9 crore in the corresponding quarter of last fiscal.
SpiceJet: The airline major wants to increase its daily flights by 10 per cent and so in the next few weeks will be adding 2 to 3 international destinations and is also planning to add about three Bombardiers and 4 to 5 aircraft they will mostly be Boeings by the end of the current fiscal. Currently, it is having a fleet of 43 aircraft operating 320 flights a day and it operates to six countries.
Network18 Media and Investments: The company reported a consolidated net loss o Rs 66.53 crore for the second quarter ended September 30. It had registered a consolidated net loss of Rs 39.17 crore in the year-ago period.
Cipla: Cipla has inked a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly $91 million. The construction of the new facility is scheduled to start early next year, with full operations expected to commence in the third quarter of 2018. The agreement with KwaZulu-Natal Dube Trade Port Special Economic Zone for Cipla BIOTEC’s new facility was concluded on the margins of BRICS Summit in Goa. The facility will be South Africa’s first biotech manufacturing unit for the production of biosimilars. It is set to produce a range of affordable treatments for cancer and other autoimmune diseases for the African and global market.
Granules India: Granules India’s Gagillapur facility located at Hyderabad, Telangana, has successfully completed US Food and Drug Administration (USFDA) inspection without any observations. This facility manufactures Finished Dosages (FDs) and Pharmaceutical Formulation Intermediates (PFIs). The company has recently received approval from USFDA for anti-inflammatory drug Ibuprofen tablets in the US market. The regulator has approved Abbreviated New Drug Application (ANDA) for Ibuprofen tablets USP, 200 mg (OTC) filed by the pharma major.
Inox Leisure: The company has commenced the commercial operations of one additional screen (with seating capacity of 105 seats) in the existing Multiplex Cinema Theatre, taken on Lease basis, and located at DR World, Parvat Patia, Surat in state of Gujarat with effect from October 15, 2016. With the addition of 1 more screen, the said Multiplex Cinema Theatre will now have 5 screens and 924 seats. INOX is now present in 57 cities with 112 Multiplexes, 440 screens and a total seating capacity of 1,12,549 seats across India.
Ujaas Energy: Ujaas Energy has won order from Uttarakhand Renewable Energy Development Agency (UREDA) for Grid Interactive Rooftop & small Solar PV Power Plant of up to 5Kwp. The order is for design, manufacture, supply, erection, testing and commissioning of Grid Interactive Rooftop and Small Solar PV Power Plants on 364 houses with a capacity of 4 & 5 Kwp at various locations in two districts of Uttarakhand.
Vedanta: Mining conglomerate Vedanta, has suspended mining operations at its Bicholim iron ore mine in Goa, citing ‘safety and security’ reasons in the wake of growing labour unrest. The suspension has been in force from October 13, 2016 at the Bicholim mine, located at village Amona in Bicholim Taluka of north Goa. Sesa Mining Corporation, a part of Vedanta, has around 462 direct and 190 indirect employees at its Bicholim mine.
Fortis Healthcare: Fortis Healthcare has completed the acquisition of 51 per cent stake in Fortis Hospotel Ltd and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.
Mawana Sugars: Mawana Sugars has put its Titawi sugar mill on the block to bring down the debt and clear sugarcane dues to farmers. The company is making efforts to raise money as it has been unable to service banks’ debt and make timely payment to farmers. The company is learnt to have roped in financial services firm JM Financial to find a buyer. Based on the cost of replacing a mill of such capacity, Titawi could fetch up to Rs 400 crore.
Resonance Specialties: The company’s one of its manufacturing site – Vista Organics, Mandideep, (Bhopal) has been recently inspected by the USFDA (US Food and Drug Administration). No 483 observations have been issued and EIR (Establishment Inspection Report) is awaited by the company. Resonance Specialties is a pioneer in Pyridine chemistry and one of the few manufacturers of the product in the world. The company is also one of the largest manufacturers of Lutidines in the world.