Companies

Companies

Hudco IPO priced at Rs 56-60; opens on May 8

The Initial public offering of Housing and Urban Development Corporation (Hudco) opens on May 8 in the price band of Rs 56-Rs 60 per equity share of Rs10 face value.
The government will raise close to Rs 1,200 crore by divesting a 10.19 per cent stake in Hudco. Retail individual investors and employees of the company bidding in the retail category will be offered a discount of Rs 2 on the offer price.
Huco is a wholly owned government company providing loans for housing and urban infrastructure projects in India for more than 46 years now.

Maruti posts record profit for FY17; Q4 net up 16%

Driven by premium models, Maruti Suzuki India (MSI) on Thursday reported 36.6 per cent jump in its annual profit to a record Rs 7,511 crore for the last fiscal, while fourth-quarter net rose by 15.8 per cent.
The company's net profit in 2015-16 was Rs 5,497.2 crore. Its net sales for 2016-17 were at Rs 66,909.4 crore, up 18.5 per cent from the previous fiscal.
Volumes for the financial year ended March 31, 2017 were up 9.8 per cent to 15,68,603 units. Of this, exports were at 124,062 units, MSI said. The company had posted record annual profit and sales in 2015-16 as well.

Breaking barriers

Shop floor of engineering or manufacturing company has traditionally been a male bastion. But like many other fields, women are now increasingly breaking into this male bastion as well.
The Swaraj division of Mahindra and Mahindra, for instance, is now drawing up a formal hiring plan for women to work on the shop floor.
Swaraj, now an arm of Mahindra’s farm equipment sector, claims to be the only tractor company, which has more than 40 women employees working on the shop floor – at different stations in plant one and plant two.

Paytm eyes 4.5 bn transactions this year

Alibaba-backed Paytm expects its platform to facilitate 4 billion transactions this fiscal, enthused by the strong uptake of digital payments in the country.

The Noida-based company, which runs a mobile wallet and e-commerce portal, had registered 1.5 billion transactions on its platform last year.

"We have seen significant growth and this year too, we expect to see a manifold growth to 4.5 billion. A significant part of this growth is coming from tier II and beyond cities," Paytm founder and CEO Vijay Shekhar Sharma told reporters here.

Reliance beats D Street estimates with higher refining margins

Reliance Industries (RIL) on Monday beat the street estimates by posting a 12.3 per cent rise in its fourth quarter net profit at Rs 8,046 crore on the back of a higher-than-expected gross refining margin (GRM) of $11.5 per barrel.
The consolidated revenue rose 45.2 per cent to Rs 92,889 crore from Rs 63,954 crore a year earlier.
For the full year, the company recorded its highest ever annual profit at Rs 29,901 crore, 18.8 per cent higher than the previous year.

Hyundai launches all new Xcent priced up to Rs 8.41 lakh

Hyundai Motor India today launched all new version of its compact sedan Xcent priced between Rs 5.38 lakh and Rs 8.41 lakh (ex-showroom Delhi).

The six petrol variants are priced between Rs 5.38 lakh and Rs 7.51 lakh while the five diesel trims are tagged between Rs 6.28 lakh and Rs 8.41 lakh.

"The fast changing trends and rising customer aspirations have always been the key driving force at Hyundai," the company's MD & CEO Y K Koo told reporters here.

Samsung unveils Galaxy S8

After Note 7 fiasco, electronics giant Samsung is hopeful of gaining market share through its newly launched Galaxy S8. The latest flagship smartphone, will be available in India for Rs 57,900 onwards, the company announced as it unveiled the product.
The handset, the company says, will be available in two versions -- Galaxy S 8 and Galaxy S8 Plus (Rs 64,900). The devices will be available at select retail outlets and online exclusively on Samsung Shop and Flipkart from May 5, 2017. Pre-booking for the phones has begun.

Huawei keen on India's smart city project: official

Chinese telecom firm Huawei is in talks with the Indian government for its smart cities initiative, a top company official said today.

It is also interested in offering its solutions to domestic power utility companies, Huawei Telecommunications India, Enterprise Business, President Derek Hao told PTI here.

"Discussions are going on with government on Smart Cities initiative," he said.

Ford launches sports editions of Figo, Aspire

Auto maker Ford India today launched sports edition of its hatchback Figo and compact sedan Aspire in the country. Diesel variant of Figo Sports edition is priced at Rs 7.21 lakh while the petrol trim is tagged at Rs 6.31 lakh (all prices ex-showroom Delhi). The new variants come with over dozen design and performance enhancements.

The Ford Aspire in sports edition is priced at Rs 7.6 lakh for the 1.5 diesel Titanium version and Rs 6.5 lakh for the 1.2 petrol Titanium variant, Ford India said in a statement.

Suzuki, partners to set up lithium ion plant in India

Japan's Suzuki Motor Corporation has joined hands with Toshiba Corporation and Denso to set up a plant in India to produce lithium ion batteries, entailing an investment of 20 billion yen (nearly Rs 1,200 crore).

The three Japanese entities have signed an agreement to form a joint venture, which is aimed at tapping into the growing popularity for electric vehicles in India.

The JV firm will come up this year and move to manufacturing phase at the earliest, Suzuki Motor Corporation said in a statement.

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