Ruchi Soya expects 15-20% growth in top-line in two years

Ruchi Soya Industries is expecting a 15-20% growth in top-line over the next two years. At present, the company’s annual turnover is Rs 30,000 crore. Of total, contribution of the edible oil business was Rs 16,000 crore, the balance being exports and sale of soya chunks.

The leading edible oil manufacturer has a nationwide market share of 18% in the packed edible oil business.

Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.

Sensex, Nifty open in green

Some buying activity is seen in capital goods, banking and IT sectors, while metal, auto and FMCG sectors are showing weakness

9:44AM: The BSE Sensex is trading up76 points at 24,626, while S&P Nifty is trading up 16 points at 7,334. BSE Mid-cap is up 0.87% at 8,502, while BSE Small-cap is up 1.23% at 8,992. Some buying activity is seen in capital goods, banking and IT sectors on BSE, while metal, auto and FMCG sectors are showing weakness. BHEL, Hero MotoCorp, Maruti Suzuki, L&T and ICICI are among the gainers, whereas Coal India, Tata Motors, SSLT, Hindalco and Bajaj Auto are losing sheen on BSE. Stock news: Rane Holdings Ltd, holding company of Rane Group, reported over six-fold increase in net profit at Rs 32.17 crore for the fourth quarter ended March 31, 2014. The company had reported a net profit of Rs 5.15 crore during the same period of the previous year. The scrip is trading up 5.67% on BSE.

Dion Global Solutions unveils TradeCentre for Australian retail advisory market

Dion Global Solutions, technology partner to the financial services industry, has rolled out TradeCentre, its comprehensive front end retail advisory tool, in Australia. TradeCentre allows users to manage the entire trading, order management and investment process and meet compliance requirements from a single platform. Brokers benefit from a lower total cost of ownership and the ability to better service customers in an increasingly competitive landscape. Dion deployed TradeCentre at Hartleys, a provider of corporate, stock broking and wealth management services, in May 2013 to support equities trading. With new brokers coming onboard with a range of complex requirements, TradeCentre supports equities and options trading and order management, smart order routing and multi-market coverage to meet the needs of the broader retail market. Dion Global Solutions provides market leading software to financial situations across the globe. Employing over 600 highly experienced and knowledgeable staff within the Finance and IT industries, Dion’s solution covers portfolio management, trading, settlement, risk management, compliance, analytics, messaging and workflow and research services and information products.

Gold futures decline on rising global equity markets

Gold futures declined on Tuesday on rising global equity markets with investors opting for the riskier equity assets following positive US housing and consumer confidence data. Moreover developments in Ukraine and a strengthening dollar against a basket of major currencies also weighed on the yellow metal price. Gold futures for June delivery settled down $26.20 at $1,265.50 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 2 percent at $1,266.75 an ounce.

FIIs were net sellers of Rs 214.27 crore in index futures and options segments on May 27

According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 214.27 crore in index futures and options segments, as per Tuesday’s data, May 27, 2014.

FIIs were buyers of index futures to the tune of Rs 15.56 crore and they sold index options worth Rs 229.83 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 1002.13 crore, while they sold stock options worth Rs 53.86 crore.        

Fiem Industries wins ‘Grand Award for QCDDM’

Fiem Industries has been awarded for best performance ‘Grand Award for QCDDM’ (Quality, Cost, Development, Delivery and Management) for FY 2013-14. The award has been conferred to the company during the 15th Supplier Meet of Honda Motorcycle & Scooter India held at Bengaluru on May 25-26, 2014.

The Global Support Supplier award was instituted by HMSI for the first time and Fiem Industries had received this award based on the supplies of automotive lamps to HONDA for Japan, Thailand and other countries.

The company has been getting awards from HMSI since their inception for excellence in performance based on QCDDM, apart from the Award for Honda Global Support Supplier given by HMSI to it last year.

Prime Focus' arm receives ISO 27001 certification

Prime Focus subsidiary - Prime Focus Technologies (PFT), has been awarded the ISO/IEC 27001:2005 certification for Information Security Management Systems (ISMS). ISO 27001 is one of the most widely recognized, internationally accepted independent security standard and PFT has earned it for the hybrid cloud technology, content processes and data centers serving its CLEAR Media ERP platform and Cloud-enabled Media Services. PFT becomes the first media and entertainment industry focused cloud technology solutions provider to achieve this certification. Prime Focus is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market. The group offers a genuine end-to-end solution from pre-production to final delivery including visual effects, 2D to 3D conversion, video and audio post production, equipment hire, multi-platform content operations solutions and digital distribution.

Uni Abex Alloy Products offers VRS to employees

Uni Abex Alloy Products has offered Voluntary Retirement Scheme (VRS) to the unionized category of the employees. Eighty employees opted for the VRS and Rs 5.94 crore were paid towards VRS compensation.

Uni Abex Alloy Products incorporated in 1972 is a Neterwala Group of Company, pioneer and leading manufacturer of centrifugal and static casting in heat, wear and corrosion resistant alloys.

Arvind Remedies to launch new drugs for Diabetes and Coronary heart disease

Arvind Remedies has signed Memorandum of Understanding (MoU) with SRM University, Chennai, to transfer the patent right to undertake exclusive manufacturing and marketing of drugs for Type II Diabetes and Coronary heart disease. These drugs will be manufactured in the form of tablets and will be launched in the domestic market by 2015 followed by the global market. The Diabetes drug is from the botanical source to ensure zero side effects on the health of patients. Arvind Remedies is engaged in the manufacturing of pharmaceutical formulations such as tablets, capsules (including soft gels), ointments and liquids. ARL markets its products in the institutional (primarily government organizations) and ethical segments, with institutional segment contributing to 70% of the total revenues.

Tech Mahindra gains on teaming up with Premium Credit for IT Services

Tech Mahindra is currently trading at Rs. 1863.60, up by 9.85 points or 0.53% from its previous closing of Rs. 1853.75 on the BSE. The scrip opened at Rs. 1856.70 and has touched a high and low of Rs. 1872.30 and Rs. 1851.60 respectively. So far 6,440 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1936.35 on 06-Mar-2014 and a 52 week low of Rs. 910.00 on 06-Jun-2013. Last one week high and low of the scrip stood at Rs. 1872.30 and Rs. 1739.80 respectively. The current market cap of the company is Rs. 43,548.00 crore. The promoters holding in the company stood at 36.29% while Institutions and Non-Institutions held 48.80% and 14.91% respectively. Tech Mahindra, a specialist provider of connected solutions, has been selected by Premium Credit, the No.1 Insurance Premium Finance Company in the UK and Ireland, to deliver front and back office application services. Tech Mahindra will provide operational support and maintenance services, as well as development and implementation. It was selected because of its domain expertise in the insurance and financial services, and a strong local footprint. Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.