Morning Business News Round Up_June 19,2017

Morning Business News :

  • Sebi may make acquisition of distressed assets stress-free
  • Council gives relaxation of 2 mths for filing GST returns
  • Govt wants 4 more PSBs to become global giant
  • Secrecy must for automatic info exchange: Swiss bank
  • Bankers to meet from Monday to decide on defaulters
  • GST: Anti-profiteering panel to levy penalty, to have sunset date
  • Sebi’s forensic audit on NSE brokers to establish gains
  • 90% Jio users opted for Prime, most ready to continue: BofAML
  • Vedanta to set up steel plant in Jharkhand in JV with JSMDC
  • DoT tells FinMin to slash telecom revenue target by 40%
  • Govt will push ‘bill to ensure min wage’ for all workers in monsoon session
  • Big NPAs offer insolvency professionals a Rs 2,500-cr biz prospect
  • Tata Sons begins group revamp to simplify shareholding
  • Rosneft plans big to tap Indian retail fuel market: Pradhan
  • India Inc seals 36 deals worth $1.89 billion in May
  • Dividend tax to add Rs. 740 cr burden on MF retail investors
  • Brace for short-term growth slowdown post GST rollout
  • FPIs invest $3.55 bn so far this month
  • CDSL and GTPL Hathway IPOs to hit market this week, eye Rs1,000 crore

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  • Wipro flags cybersecurity breaches as potential risk to business
  • Govt planning strategic sale of Dredging Corp through auction
  • SBI may look at IPO of general insurance business next fiscal
  • IndusInd Bank sells Vasan Healthcare loans to Edelweiss ARC
  • Continuing impact of note ban to cost MFIs dearly,warns report
  • Continuing impact of note ban to cost MFIs dearly,warns report
  • Need to firewall systems to counter cyber risks around GST
  • Natural calamities in Asia, Pacific threat to infrastructure, says ADB
  • portal MCA21 came under WannaCry attack
  • BMW to invest Rs 130 cr in India to rev up operations
  • Finmin asks PSBs to explore acquisition of smaller banks

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Morning Business News Round Up_June 16,2017

Morning Business News :

  • Banks look to recover bad loans worth Rs 1.5L cr
  • India’s current account deficit widens in January-March
  • BP, RIL tie up for Rs 40,000 cr oil plan for India
  • Petrol price cut by Rs 1.12 a litre, diesel by Rs 1.24/litre
  • 20 Indian firms in top 100 companies in Asia300 ranking
  • Builders must pass on lower GST to buyers: Govt
  • India’s gold imports surge 3-fold to $4.95 billion in May
  • Challenges remain amid govt’s push for digital economy
  • Current account deficit widens in Q4 to 0.6% y-o-y
  • Centre to reduce stake in MSTC to 64% from 90%
  • RBI easing housing finance norms credit negative: Moody’s
  • Sebi ups penalty for non-compliance
  • India Inc’s overseas investment drops 56% in May
  • Solar, not coal, is India’s future by 2030: Report
  • GST Council to meet on June 18 to finalise draft rules, tax rate on lottery
  • Dumping duty imposed on hydrogen peroxide imports from 6 countries
  • GST will be boon for tax payers and bane for evaders’

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  • RuPay credit cards likely to be rolled out in a month: NPCI
  • Tesla in talks with govt to reduce import duty: Musk
  • Saudi Aramco seeks exclusive talks for stake in mega refinery
  • RBI likely to step up forex buying, rate cut on cards: report
  • Tata Capital said to raise $1 billion across three private equity funds
  • Non-farm jobs on the rise in India: McKinsey report
  • Reliance Jio spells big trouble for India’s small telcos
  • Mid-sized Indian firms to create 7 million jobs by 2021: survey
  • Bank of England holds policy rates at record low 0.25%; India has it at 6.25%
  • Sensex, Nifty edge lower on profit-taking; bank stocks fall, pharma shares cheer
  • Havells India to issue Rs 150 crore commercial paper to Yes Bank
  • China, India seen as $4 tn opportunity for energy by 2040
  • Pennar group looks to set up joint venture in US
  • Warburg Pincus to pick up 43% in Tata Tech for $360m
  • A good monsoon is little comfort for despairing farmers
  • Centre approves Rs 580-cr to Markfed for buying pulses in MP
  • India top remittance receiving country in 2016, says UN report
  • RIL-BP to invest USD 6 bn in developing new gas fields

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Forthcoming IPO_Tejas Networks Limited

Tejas Networks Ltd.
Issue Open Date 14-Jun-17
Issue Closing Date 16-Jun-17
Price Band (Rs.) 250 – 257
Minimum Bid Quantity. 55
Issue Size (Shares) 30711605
Market Lot 1

Objects of the Issue:

The Offer comprises the Fresh Issue and the Offer for Sale.

1. Offer for Sale – The company will not receive any proceeds from the Offer for Sale.

2. Fresh Issue – Company proposes to utilize the Net Proceeds towards funding the following objects:

A. Capital expenditure towards payment of salaries and wages of research and development team;
B. Working capital requirement; and
C. General corporate purposes.

Business Description :

Tejas Networks Limited Logo

Incorporated in year 2000, Tejas Networks Ltd is Bangalore based optical and data networking products company. Trjas design, develop and sell products to telecommunications service providers, internet service providers, utility companies, defense companies and government entities in India and over 60 countries. These products are used in building high-speed communication networks to carry voice, data and video traffic from fixed line, mobile and broadband networks over optical fiber.

Tejas Networks build hardware and software products related to optical and data networking. The hardware is build using modular approach and the software-defined architecture allows the company to remotely upgrade the hardware with new capabilities and features. Tejas Networks outsource most of its manufacturing to electronics manufacturing services companies.

Tejas Networks offer pay-as-you-grow business model where its clients purchase its products/services incrementally as needed.

Tejas Networks Ltd have filed 326 patent applications, with 198 filings in India, 87 filings in the United States and 6 filings in Europe, out of which 47 patents have been granted.

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. Million)
31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13 31-Mar-12
Total Assets 8,383.03 7,280.56 7,452.00 6,563.40 6,397.81
Total Revenue 6,274.57 3,868.26 4,230.55 3,692.71 2,014.22
Profit After Tax 290.05 (178.66) 27.77 (790.43) (928.90)

Company Contact Information

Tejas Networks Limited
J.P. Software Park, Plot No. 25,
Sy.No. 13, 14, 17 & 18, Konnapana Agrahara Village
Begur Hobli, Bengaluru 560 100
Phone: +91 80 4179 4600
Fax: +91 80 2852 0201

Tejas Networks IPO Registrar

Link Intime India Private Ltd
Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969

Tejas Networks IPO Lead Manager(s)


Kindly contact 079 66664040 for IPO subscription

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Morning Business News Round Up_June 05,2017

Morning Business News :

  • Modi’s note ban gamble gets a big thumbs-up from WB
  • Construction, transport, retail may create most jobs’
  • Textile industry welcomes low GST for natural fibres
  • Banks not yet prepared for GST roll-out: IBA
  • India to take up road and highway projects abroad
  • Telecom industry’s cash deficit at Rs 1.2 lakh cr: RCom
  • Andhra and Allahabad Bank to sell Rs 6k cr of NPA
  • India slips to 45th spot in IMD’s competitiveness list
  • 25,000-Mw thermal power projects on sale, but buyers missing
  • US recognises India as major defence partner: James Mattis
  • FDI in services sector up 26% to $8.68 bn in FY17
  • NSE to launch international exchange at GIFT city

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  • FPIs stay glued to Indian market, put in $4.2 bn in May
  • BoI may sell stake in subsidiaries to raise capital to deal with bad loans
  • SEBI forms committee on corporate governance
  • Reliance, L&T vying for ₹25,000-cr defence deal
  • FinMin suggests 5% GST levy on natural gas
  • Mandhana to take Being Human brand to tier 2 & 3 markets
  • Gold jewellers welcome new GST rates
  • India’s GDP growth to remain flat at 7.1% in 2017-18: HSBC
  • SoftBank’s $100 billion fund says in talks with Canada, Mideast for $7 billion cash
  • Panasonic eyes Rs1,150 crore revenue from B2B segment in FY18
  • Railways to raise Rs35,000 crore with World Bank’s help for investments
  • PSBs to raise Rs58,000 crore from capital markets this fiscal
  • Government starts GST awareness drive for consumers
  • Aadhaar mandatory for kerosene subsidy, Atal Pension Yojana
  • Foreign investors with modern technology welcome in steel sector
  • Export volumes rose in FY17 on low commodity prices
  • 81% items in/below 18% slab
  • Signs of recovery in rural, urban consumption
  • Shell company directors to face up to five years disqualification

Morning Business News Round Up_June 02,2017

Morning Business News :

  • Aadhaar gets new security guards after widespread data leak fears
  • Note ban impact overstated by pre-conceived notions
  • Niti Aayog to merge vision document, strategy paper
  • Indian exports to China rises sharply in first 4 months
  • SBI’s new service charges kick in from June 1

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  • Modi invites Russian cos to invest in defence
  • Fitch downgrades RCom, says biz model compromised
  • Merger may be preferred route for ONGC, HPCL
  • Banks may seek forensic audit of RCom books
  • Sebi allows online registration for MFs
  • Russia’s Alrosa seeks tax benefit for diamond sales in India
  • Top FPIs’ Indian holdings double in 3 years
  • Claris Lifesciences gains on successfully undergoing USFDA (PV) audit
  • HMSI sales up 23% in May at 5,37,035 units
  • Manufacturing PMI falls to three-month low of 51.6 in May
  • ICRA, CARE assign AAA to RInfra’s InvIT fund
  • Strides Shasun gets USFDA nod for pain reliever drug
  • TVS Motor sales rise 16% at 2,82,007 units in May
  • Maruti Suzuki domestic sales up 15% in May
  • HPCL seeks shareholders’ nod to issue bonus share
  • Bad debt resolution, private investment are NDA priorities: Arun Jaitley
  • BHEL’s dismal performance reflects state of Indian economy
  • Changing colours of bank lending to the corporate sector
  • HDFC buys 15% stake in Tanzania’s First Housing Fin Co
  • Adani Power board to consider sale of Mundra power business to subsidiary
  • Asian factories lose momentum in May, Europe stays buoyant
  • GST council meeting on June 3 to discuss various limits on commodities

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  • Telangana IT exports grow 14% to Rs 85,470 crore in FY17
  • Strategic partnership to help attract FDI in defence: FM
  • Stocks of state owned banks dip 25% in 2 weeks on PCA fears
  • Several factors responsible for decline in GDP growth: Jaitley
  • RBI allows foreign investors to up stake in Tejas Networks
  • Bharti Infratel sounds out banks on Indus Tower buyout

Morning Business News Round Up_June 01,2017

Morning Business News :

  • CPI inflation to rise above RBI’s target of 4%: UBS
  • GDP to accelerate by 0.75 pc in FY18, says CEA
  • Arcelor Mittal, SAIL agree to export auto-grade steel
  • RCom’s lenders eyeing SDR route for revival
  • Petrol price hiked by Rs 1.23 a litre, diesel by 89 paise
  • US immigration crackdown may hit economy: Fed
  • BEL revenue likely to hit Rs 10,000 crore mark: CMD
  • Per capita income rises 9.7% to Rs 1.03 lakh in FY17
  • April core sector growth slows to three-month low of 2.5%
  • Govt meets 3.5% fiscal deficit target in FY17
  • Higher defence spending revs Q4 show of BEML, BEL
  • No cyber attack on Aadhaar biometric data: UIDAI

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  • Claim settlement for ECGC down 21% at Rs 885 cr in FY17
  • NSE’s new multicast trading system gets EY thumbs up
  • SEBI proposes norms to regulate index providers
  • Monsoon to cover parts of Karnataka, TN, N-E in next 3 days
  • Aurobindo gets USFDA nod for atomoxetine generic capsules
  • Steel Strips Wheels bags Europe order worth €60,000
  • India, Russia to set the ball rolling for FTA talks with Eurasian union
  • Glenmark gets USFDA nod for ADHD drug
  • RBI calls for account number portability, banks wary
  • Demonetisation pulls down India GDP growth rate to 6.1% in Q4 2016-17
  • Hindalco’s debt reduction a tailwind for earnings
  • Pfizer to acquire Neksium brand of drugs from AstraZeneca for Rs75 crore
  • Banks invoke RBI’s SDR norms to take control of Ballarpur Industries
  • Note ban hit GDP growth; RBI must cut rates: India Inc
  • BlackRock buys ICICI Bank shares worth Rs 1,155 cr at Rs 326.33 per share
  • IKEA announces acquisition of its first land parcel in Bengaluru
  • Sharp rise in Indian diamonds, gems’ export to China
  • Japanese firm Rohto Pharma plans to expand base in India
  • Rupee logs 1st gain in 3 days, jumps 15 paise to 64.51
  • PM Modi woos Spanish firms to invest in India
  • Coal scam: Accused moves HC against framing of charges
  • Outgoing UBI chief backs merger with small banks
  • Raymond case: Patel seeks probe against firm’s directors, promoters
  • Orient Cement to acquire two units from Jaypee for Rs 1,946cr

Morning Business News Round Up_May 29,2017

Morning Business News :

  • Brookfield in talks to buy towers of Idea, Vodafone
  • Regulators RBI, Sebi step up NSE algo probe
  • EPFO to invest Rs 20,000 crore in equities in 2017-18
  • FPIs stay bullish on India, pump in $4 billion in May
  • RBI guidelines on P2P lending platform likely by July
  • Various tax slabs under GST worry traders: CAIT
  • IOC overtakes ONGC, become most profitable PSU
  • Next big wave of liberalisation in FDI on the cards
  • Taxing farm income is ‘politically challenging’, says top economist
  • AIITEA mulls IT Employees United Front to address job cuts
  • Coal India’s April coal despatch grows 6% to 45 mn tonnes
  • Maruti Suzuki targets selling 3 lakh automatic cars annually by 2020

Image result for • Maruti Suzuki

  • Introduce indemnity clauses with suppliers on tax compliance: Expert
  • India is second most complex tax jurisdiction: Deloitte
  • CBDT committee to review ‘naming, shaming’ of tax defaulters
  • PMO to take a call on imposing customs duty on mobile phones
  • Cognizant layoff plea closed in favour of sacked staff: Govt
  • RCom Q4 loss at Rs. 948 cr on disruptive pricing, competition
  • Fairfax sells 12.18% stake in ICICI Lombard General Insurance
  • Adani Power’s Q4 loss widens to Rs4,960 crore after SC decision on compensatory tariff
  • Raymond to invest Rs350 crore in capex, retail expansion
  • P-note investments hit 4-month low of Rs1.68 trillion in April
  • Severe underemployment more serious than unemployment: Niti Aayog
  • Every deptt should disclose demonetisation details: CIC
  • GST gains to be ‘far less’ than initially envisioned: Nomura
  • Poor show by banks, private investors challenge for economy: Arun Jaitley
  • Government proposes strict norms for registered valuers
  • ITC Q4 net profit up 12% to Rs 2,669.47 cr
  • Tech Mahindra Q4 net drops 31% to Rs588 cr
  • RCom hit by mobile price war
  • Sugar production may see marginal increase
  • Patanjali joins traders, industry in demanding lower GST rates

Morning Business News Round Up_May 24,2017

Morning Business News :

  • Rs 1K cr from GAIL to make Dabhol an all-yr terminal
  • JIO plans against TRAI norms: Vodafone to High Court
  • ‘Bill to address bankruptcy in financial sector soon’
  • Cabinet may decide on FIPB abolition  today
  • Q4 GVA growth in India to drop to 6.6%: D&B
  • Moody’s changes Bharti Airtel’s outlook to negative
  • Radio Mirchi operator ENIL posts 18.6% revenue in Q4

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  • RBI defies SC order, refuses to disclose list of loan defaulters
  • SFIO developing early warning system to detect corp frauds
  • India eyeing to become a trillion-dollar digital economy by 2022
  • Sebi appoints enquiry officer to vet Deloitte’s forensic audit on NSE
  • Irdai to alter insurance policy covers for shops and hotels
  • Crude oil output dips in April; natural gas production up
  • ‘India-Africa ties a silver lining for global economy’
  • TVS Logistics keen to expand, focus on packaging segment
  • ASK Group to invest Rs. 200 cr in ATS Infra’s project in Noida
  • Promoters’ ‘share pledges’ down only a bit despite market rally
  • Govt offers tax concessions to Apple to expand production, says official
  • Govt to table bankruptcy law for NBFCs, MFIs in monsoon session of Parliament
  • Videocon shares continue to fall, slump 20% on loan repayment worries
  • Warren Buffett plan to hold American Express shares revealed amid ads
  • Jindal Steel Q4 net loss narrows to Rs 100 crore
  • US-India relationship never been stronger: Trump administration
  • India proposes RCEP business visa card under mega trade deal
  • Won’t allow companies from country barring Indian firms: Piyush Goyal
  • Johnson Controls-Hitachi Q4 net profit jumps 90% to Rs 25 cr
  • GST Animal Farm: Donkeys exempted, horse-trading to invite 12% levy
  • Telecom firms may pass gains of input tax credit
  • Govt allows Tesla to manufacture in India without local sourcing
  • Rupee drops 34p against greenback
  • Tata Motors registers 16.8% decline in Q4 profit
  • Sensex pares 205 pts, Nifty 52 pts
  • Jindal summoned as accused in coalscam

Morning Business News Round Up_May 22,2017

Morning Business News :

  • SoftBank’s Vision Fund raises $93 bn in its first close
  • Small e-comm vendors will have to pay GST upfront
  • EPFO to take call on raising ETF investment to 15%
  • Govt initiates work on shifting financial year
  • India doesn’t have a lot to lose by boycotting OBOR
  • LIC investment income at Rs 1,80,117 crore in 2016-17
  • Oil firms may take a Rs 25,000 crore hit from GST
  • Turnaround stories bump up corporate profits
  • CPI inflation may come down by 2% by year-end: Adhia
  • Bajaj Auto in recovery mode in FY18 after note ban; BS-III ban hit sales
  • UP sugarcane arrears at Rs 3,500 cr, 90% owed by private mills
  • Zuari Agro Chemicals approves Rs 1,300 cr to revamp ammonia-urea plants
  • BPCL to lay 20-inch insulated pipeline to boost capacity in Kochi refinery
  • GST to cut inflation by 2%, create buoyancy in economy: Adhia

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  • Govt initiates work on shifting financial year to Jan-Dec
  • FPIs stay bullish on India, pump in $2 billion in May
  • Natco Pharma gets green nod for Rs. 480-cr expansion project
  • ‘Indian govt working with stakeholders to devise new rules for clinical trials’
  • Countries acting alone pose main risk to trade system, says WTO
  • Oil ministry may block PSUs buying GDF International’s 10% stake in Petronet LNG
  • BSE to shift 17 firms to restricted trading segment for non-compliance of listing rules
  • Motherson Sumi lines up Rs2,000 crore capex for FY18
  • Corporation Bank Q4 profit at Rs159.98 crore on lower provisions
  • India to have science infrastructure sharing policy soon
  • India’s economy to improve, cost of funds may rise: Report
  • FPIs stay bullish on India, pump in $2 billion in May
  • Consumer durables firms anticipate July-August sales dip on GST
  • LIC’s equity play pays off in spades
  • Richemont buys duty-free stake in Dufry AG amid AI talk
  • Banks and borrowers to settle NPAs, hints Lavasa
  • Falling oil prices gave no relief to consumers
  • Exporters to get tax refund under GST within 7 days: Nirmala

Morning Business News Round Up_May 11,2017

Morning Business News :

  • Govt power companies may not import coal in FY18
  • Forecasters differ over El Niño probability
  • SoftBank records $1.4 bn loss from India investments
  • Videocon D2H, Dish TV merger gets CCI nod
  • BS-III discounts trim Hero MotoCorp profit by 14%
  • Rosneft to complete purchase of Essar Oil by June
  • Star Health Insurance finalise bankers for exit plans
  • Viability cloud over solar power as price hits new low
  • PE investors cautious on real estate with new law
  • RBI net buys $3.53 billion from spot market in March
  • IndAS switch to impact banks’ earnings, return on equity
  • Novelis sells 50% stakes of Ulsan facility to Japan’s Kobe Steel at $315 mn
  • Claris Lifesciences might exit pharma biz altogether, enter FMCG space
  • India set to get higher monsoon rains than forecast: IMD
  • Petronet Q4 profit nearly doubles to Rs. 471 cr; board okays 50% dividend
  • Apex court directs Home Ministry to ensure Mallya’s presence on July 10
  • Global Cloud Xchange forms tie-up with Swiss-based Safe Host
  • DLF Cybercity to invest Rs. 500 Cr for phase III expansion
  • RBI’s prompt corrective action looms over 17 Indian banks, says Moody’s
  • Kotak Mahindra Bank to launch $867 million share sale as early as this week: IFR

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  • Renault Duster fails Global NCAP crash tests
  • Zee Entertainment Q4 profit jumps six times to Rs1,514 crore
  • Cargo traffic at 12 major ports up 6% in April
  • Markets close at record highs; Nifty tops 9400, Sensex above 30200 on monsoon hopes, FII buying
  • India to import LPG from Iran to meet rising demand
  • Patanjali eyes Rs 1 lakh-crore turnover in next 5 years
  • Credit growth plunges to even lower than FY17 level to 4.3%
  • Snapdeal-Flipkart merger likely today as Nexus almost on board
  • LGBT to get due representation at Tata Steel
  • PSBs, SUUTI to be part of CPSE exchange traded fund II
  • Sharing DeMo details will hit economy: RBI
  • Novelis sells 50% in Ulsan Aluminium to Kobe Steel to float Korean JV