Stocks in the news: HPCL, Axis Bank, Blue Star, Lupin, Marico, Cipla, Siemens, NBCC, Adani Green

Jubilant Life & Jubilant Food – Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the company and the same stands withdrawn.

HCL Technologies and Harris Geospatial Solutions partner to deliver advanced analytics solutions for the utility industry

Century Plyboards approved a proposal for setting-up a Particle Board and MDF Unit at Uttar Pradesh.

Majesco releases new electronic billing and payment solution built using Majesco Digital 1st Insuran

Lupin Launches Clomipramine Hydrochloride Capsules USP

Marico: The company’s net profit grew 13 percent at Rs 251.7 crore.

HPCL: The profit has fallen 77 percent to Rs 247.5 crore against previous quarter.

Axis Bank: RBI has imposed a penalty of Rs 2 crore.

RBI Imposes Rs 1 crore penalty on Syndicate Bank

Blue Star: Profit for Q3 fell 15 percent to Rs 13.2 crore.

Bombay Dyeing: The company has posted a net loss of Rs 142.8 crore

NBCC secured the total business of Rs 355.90 crore in the month of January, 2019

Bank of Baroda has revised Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 07th February 2019

Adani Green commissioned 12 MWac Wind Power Project and award of 390 MWac Hybrid Project to Wholly-owned subsidiaries of the company

Dish TV Q3

Cons net profit at Rs 152.7 cr vs Rs 19.7 cr (QoQ)

Uttam Galva Q3

Net loss at Rs 530.7 cr Vs Rs 180 cr loss (YoY)

Arshiya Q3

Net loss at Rs 83.2 cr Vs Rs 89.6 cr loss (YoY)

Adlabs Entertainment Q3

Net loss at Rs 42.1 cr Vs Rs 35.7 cr loss (YoY)

GEECEE Ventures Q3

Net profit at Rs 11.1 cr Vs Rs 5.1 cr (YoY)

Fairchem Speciality Q3

Net profit at Rs 70.3 cr Vs Rs 10.7 cr (YoY)

LT Foods Q3

Net profit down 0.8% at Rs 38.2 cr Vs Rs 38.5 cr (YoY)

Saint Gobain Q3

Net profit down 7.9% at Rs 4.9 cr Vs Rs 5.3 cr (YoY)

Hitech Corporation Q3

Net profit at Rs 11.6 cr Vs Rs 0.4 cr (YoY)

Brigade Enterprises Q3

Net profit up 31.7% at Rs 59.4 cr Vs Rs 45.1 cr (YoY)

HCL Infosystems Q3

Net loss at Rs 30.1 cr Vs Rs 33.5 cr loss (QoQ)

RPG Life Sciences Q3

Net profit down 3.6% at Rs 5.3 cr Vs Rs 5.5 cr (QoQ)

Usha Martin Q3

Net loss at Rs 35.5 cr vs loss of Rs 111.1 cr (YoY)

V-Mart Retail Q3

Net profit up 13.6% at Rs 41.7 cr Vs Rs 36.7 cr (YoY)

Suven Life Sciences Q3

Net profit up 40.2% at Rs 25.1 cr Vs Rs 17.9 cr (QoQ)

Sobha Q3

Net profit up 13% at Rs 60.6 cr vs Rs 53.8 cr (YoY)

Prataap Snacks Q3

Net profit down 23.2% at Rs 9.6 cr Vs Rs 12.5 cr (YoY)

Future Enterprises Q3

Net profit at Rs 1.1 cr Vs Rs 81.9 cr (YoY)

Tata Chemicals Q3

Net profit at Rs 266 cr Vs Rs 831.6 cr (YoY)

IDFC First Bank Q3

Net loss at Rs 1,538 cr Vs Rs 146.1 cr (YoY)

Aditya Birla Cap Q3

Net profit up 42% at Rs 206 cr Vs Rs 145 crore (YoY)

Jai Corp Q3

Net profit down 19.6% at Rs 3.7 cr Vs Rs 4.6 cr (YoY)

Torrent Power Q3

Net profit up 15.6% at Rs 238.2 cr Vs Rs 206 cr (YoY)

Analyst or Board Meet/Briefings

Tube Investments: The company will hold analysts call to discuss financial results on February 7, 2019.

Natco Pharma: The company will host earnings call on February 13, 2019.

CRISIL: Kayne Anderson Rudnick Investment Management will meet the company on February 15, 2019.

AIA Engineering: The company will hold a conference call on February 8, 2019.

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Parliament proceedings | Budget Session 2018, Day 8 — As it happened

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Venkaiah Naidu issues fervent appeal to maintain decorum expected of House of Elders; Promises and commitments made in the A.P. Reorganisation Act are a work in progress, says Jaitley.

Friday marks the last day of the first part of the Budget session of Parliament. It will reassemble on March 5.

 

Apple Sold Record 22 Million iPhone Units in the US in the Holiday Season: Counterpoint

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Apple sold a record 22.39 million smartphones in the US in the holiday season last year, increasing its market share from 37 percent to 44 percent — the highest ever for Apple on home turf, a new report said on Wednesday.

Since its launch on November 3, with nearly eight million units sold, iPhone X outsold iPhone 8 and iPhone 8 Plus by a 2:1 margin in the US.

According to Counterpoint Research’s Market Pulse programme, 51.2 million smartphones were sold during the holiday season quarter of 2017.

Apple shipped a record 22 million iPhones for the first time ever in a quarter in the US which is an impressive feat because the Q4 promotional season was not nearly as aggressive as previous years,” Research Director Jeff Fieldhack said in a statement.

Apple was able to grow their sell through 20 percent in a market that only grew 2 percent compared to last year. This means Apple has been successful to take share away from Samsung in the premium segment,” he added.

There are reports that iPhone X has disappointed on a global level, including in China, and the higher price ensured the demand remained softer than expected.

“But this has not been the case in the US market. The consumers, on an average, are probably on their third or fourth iPhone and are willing to pay for the Apple ecosystem which is much stronger in the US than, for example, in China,” said Research Director Neil Shah.

Samsung to Hire 1,000 R&D Engineers in India This Year

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In line with its commitment to hire 2,500 engineers for R&D in India in the next three years, Samsung on Wednesday said the company will hire 1,000 engineers from top engineering colleges including IITs, NITs and IIITs this year.

With a thrust on New-Age domains like Artificial Intelligence (AI), Internet of Things (IoT), Machine Learning (ML), biometrics, Natural Language Processing (NLP), Augmented Reality (AR) and networks including 5G, Samsung will hire 300 students from IITs this year.

The company will hire 35 students from IIT-Bombay, 32 from IIT-Delhi, 22 from IIT-Madras, 45 from IIT-Guwahati and 29 students from IIT-Kharagpur, among others.

Samsung India has three R&D centres — in Bengaluru, Noida and Delhi.

“Samsung is extremely bullish on R&D in India and this focus on R&D has helped us cement our Number 1 position in the Indian market. The three R&D centres in India work on several cutting-edge technologies,” Dipesh Shah, Managing Director, Samsung R&D Institute India, Bengaluru and Global Senior Vice President, Samsung, said in a statement.

Apart from IITs and NITs, Samsung is also hiring quality talent from other premier institutes such as the Delhi College of Engineering, BITS Pilani, Manipal Institute of Technology and IIITs, among others.

Last year, Samsung hired 800 engineers for its R&D facilities, out of which 300 were from IITs.

Apart from the traditional domain of computer science, students were hired from streams such as electrical engineering, mathematics and computing, applied mechanics and statistics, among others.

Samsung has a total of 32 R&D centres across the world and the Bengaluru one is Samsung’s largest R&D centre outside South Korea.

“As part of our ‘Make for India’ initiative, R&D centres in India also work on developing innovations that are centred on the needs of Indian consumers and also contribute to innovations for global products,” Shah said.

Google Removed Over 700,000 Bad Apps, 100,000 Developers From Play Store in 2017

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HIGHLIGHTS

  • Over 250,000 apps impersonating big titles were removed
  • Google also removed apps with inappropriate content
  • Malware apps were reduced with the help of Google Play Protect

Google on Tuesday announced that Google Play in 2017 took action against “bad apps” by eliminating apps and developer accounts from the platform. The tech giant claims to have used machine learning to identify bad apps with identifiers like impersonation, inappropriate content, and malware to root out over 700,000 apps and 100,000 developers in 2017, which is a 70 percent jump from the preceding year. “In fact, 99 percent of apps with abusive contents were identified and rejected before anyone could install them,” was a claim mentioned on Android Developers Blog.

Impersonation
Google, on its Android Developers Blog, states that impersonators or ‘copycats’ are the most common red signal for removing apps from Google Play. In 2017 alone, the Mountain View giant removed as much as 250,000 apps that were caught impersonating big titles. The impersonators carried out this practice through deceptive methods such as “confusable unicode characters or hiding impersonating app icons in a different locale.”

Inappropriate Content
Much like any other Safe For Work public platform online, Google Play does not allow any kind of inappropriate content. Inappropriate content, according to the company’s definition, includes pornography, extreme violence, illegal activities, and hate. Google claims that its advanced machine learning models help quickly sift through app submissions and flag them for inappropriate content. Human reviewers then jump into the scene, with tens of thousands of apps removed in the past year.

Malware
And, finally, another red flag for Google is the presence of Potentially Harmful Applications (PHAs) that can cause harm to device users. Apps involved in phishing, fraud, and Trojans are part of this list. The tech giant claims PHAs are currently small in volume but research to remove them is being heavily invested in. With the launch of Google Play Protect – Google’s malware scanning feature – at I/O 2017, the annual PHA installs have apparently gone down by 50 percent year on year, the company said.

“Despite the new and enhanced detection capabilities that led to a record-high takedowns of bad apps and malicious developers, we know a few still manage to evade and trick our layers of defence. We take these extremely seriously, and will continue to innovate our capabilities to better detect and protect against abusive apps and the malicious actors behind them. We are committed to make Google Play the most trusted and safe app store in the world,” said Andrew Ahn, Product Manager at Google Play.

Fujifilm to Take Over Xerox in $6.1 Billion Deal, Create Joint Venture

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Japan’s Fujifilm Holdings is set to take over Xerox Corp in a $6.1 billion (roughly Rs. 38,775 crores) deal, combining the US company into their existing joint venture to gain scale and cut costs amid declining demand for office printing.

The acquisition announced on Wednesday comes as Xerox has been under pressure to find new sources of growth as it struggles to reinvent its legacy business amid waning demand for office printing. Fujifilm is also trying to streamline its copier business with a larger focus on document solutions services.

Consolidation of R&D, procurement and other operations would enable Fuji Xerox to deliver at least $1.7 billion (roughly Rs. 10,807 crores) in total cost savings by 2022, the two companies said.

Fujifilm now owns 75 percent of Fuji Xerox, the joint venture going back more than 50 years ago which sells photocopying products and services in the Asia-Pacific region.

The two companies said that Fuji Xerox will buy back that stake from Fujifilm for around $6.1 billion, using bank debt. Fujifilm will use those proceeds to purchase 50.1 percent of new Xerox shares. Plans were for the deal to be completed around July-August, they added.

The combined company will keep the Fuji Xerox name and become a subsidiary of Fujifilm, with dual headquarters in the United States and Japan, and listed in New York. It will be led by Xerox CEO Jeff Jacobson, while Fujifilm CEO Shigetaka Komori will serve as chairman.

The joint venture accounts for nearly half of Fujifilm’s sales and operating profit.

Both companies have struggled with slow sales of photocopy products, as businesses increasingly go paperless. Fujifilm on Wednesday reported a 29.4 percent drop in operating profit at its document solutions operations, which includes Fuji Xerox, for the third quarter, underperforming its imaging and information segments. Overall, the company reported a 3.4 percent increase in operating profit for the quarter.

Xerox reported a net loss from continuing operations of $196 million (roughly Rs. 1,245 crores) in the fourth quarter, mainly due to a one-off $400 million (Rs. 2,542 crores) charge as it sought to take advantage of changes to US tax law but also reflecting the steady decline in office printing.

“This has been a speedy decision, but I believe it’s a creative one,” Fujifilm CEO Komori told reporters at a briefing. “The new structure will leverage the strengths of our three companies.”

As part of its own restructuring, Fujifilm said it was cutting 10,000 jobs at Fuji Xerox, more than a fifth of its workforce at the joint venture, in the Asia Pacific region.

Sluggish performance at Xerox had prompted investors to call on the US company, which had owned 25 percent of the joint venture, to explore strategic options.

Xerox has been targeted by activist investor Carl Icahn and shareholder Darwin Deason, who joined forces last week to push Xerox to explore strategic options, oust its “old guard”, including its CEO, and negotiate better terms for its decades-long deal with Fujifilm. Icahn is Xerox’s biggest shareholder, with a 9.72 percent stake.

Xerox’s CEO said the combined company would gain an increased edge in new technologies, along with higher revenues and cost synergies, while Xerox shareholders would also benefit from a $2.5 billion special cash dividend resulting from the deal.

“This transaction…offers substantial upside for shareholders of the combined companies, including current shareholders of Xerox and Fujifilm Holdings, who will own shares in a more competitive company that has enhanced opportunities for long-term growth and margin expansion,” Jacobson said in a pre-recorded video message.

The takeover deal comes less than a year after Fujifilm admitted improper accounting standards at Fuji Xerox, but Komori said that Xerox’s strong governance standards could be beneficial to the new company.

Fujifilm shares fell 8.3 percent on Wednesday ahead of its announcement of job cuts but after the Journal report about a deal with Xerox. Xerox shares ended down 0.5 percent on Tuesday.

© Thomson Reuters 2018

Jio vs Airtel vs Vodafone: Who Offers the Best Prepaid Recharge Packs?

Sim_Cards_1517388104045.jpgJio, Airtel, and Vodafone have been extremely active over the last few weeks as the competition has intensified in the Indian telecom sector. Attempting to retain subscribers or gain new users, all three operators have started offering more data and validity without raising prices, or have reduced prices of popular plans. Jio has, of course, been on the forefront of this change, and is offering data at tariffs lower than ever before to prepaid users. Unsurprisingly, Airtel and Vodafone – the two biggest players in the industry – have been quick to catch up, and have kept their prices competitive. But with so much choice, it becomes difficult for the consumer to keep track of the best prepaid packs for them. We take a look at the recharge packs the three telcos offer across price points with the best daily data allocations.

Jio, Airtel, Vodafone plans under Rs. 200

The Jio Rs. 149 plan offers 1.5GB data per day, unlimited calls across India, no roaming charges, 100 SMS messages per day, and access to the company’s apps for 28 days. At the same price, Airtel offers 1GB data per day, unlimited local and STD calls, free roaming, and 100 SMS messages per day for 28 days. Vodafone, however, offers 1GB data per day at Rs. 149, along with unlimited calls, no charges for calls made while roaming, 100 SMS messages per day for 28 days.

Around the Rs. 200 price point, Jio users will get 2GB data per day for 28 days at Rs. 199 courtesy the Republic Day 2018 Offer, along with the same freebies as mentioned above. Airtel offers 1.4GB data per day for 28 days at Rs. 199, while Vodafone offers the same at Rs. 198; both plans come with the respective above-mentioned freebies.

Jio, Airtel, Vodafone plans under Rs. 300
Under Rs. 300, only Jio has a plan with a daily data allocation – subscribers will get 3GB data per day for 28 days, meaning a total of 84GB data for the entire validity period. Of course, the free calls, SMS messages, and apps subscriptions will be available with this recharge too.

Jio, Airtel, Vodafone plans under Rs. 400
The Mukesh Ambani-backed operator presently offers 1.5GB data per day for 70 days at Rs. 349, while Airtel and Vodafone give 2.5GB data per day for 28 days at the same price. At Rs. 398, Jio users will get 2GB data per day for 70 days, and 1.5GB per day for 84 days at Rs 399. Subscribers of both Airtel and Vodafone will get 1GB data per day for 70 days at Rs. 399. The respective freebies apply for each telecom operator.

Jio, Airtel, Vodafone plans under Rs. 500

At Rs. 448, Rs. 449 and Rs. 498, Jio offers 2GB data per day for 28 days, 1.5GB data daily for 91 days, and 2GB data a day for 91 days, respectively. With the Rs. 448 recharge pack, Airtel gives prepaid customers 1.4GB data per day for 82 days, while Vodafone gives the same daily data allocation for 84 days at Rs. 458.

Jio, Airtel, Vodafone plans under Rs. 600
Jio users will get 4GB data per day for 28 days at Rs. 509, while Airtel and Vodafone offer 1.4GB per day for 90 days at the same price. Airtel also provides 3GB data per day for 28 days at Rs. 549 to its prepaid subscribers.