Page 8 - Hinduja Group

Hinduja Global Solutions Q1 profit falls 20% to Rs 42 cr

HGS' capex and investments stood at Rs 39.5 crore at the end of June 2017 quarter

Promoters nix Hinduja Global's stock rights plan

In a rare move, the promoters of Hinduja Global Solutions, the group's information technology and business process outsourcing arm, have voted against the employee stock appreciation rights (ESAR) plan.Such decisions by promoters against management proposals are rare, raising questions around the rationale and whether the management and the promoters are not on the same page. A HGS spokesperson declined to offer any comment in this regard. The total of votes polled were 52.68 per cent of the total. Of these, 65 per cent of the promoter shareholders took part; the others did not vote. Among non-promoters, only 26 per cent voted. About 85 per cent of the public shareholders had voted in favour but 99 per cent of the promoter votes polled were against. A maximum of two million shares of Rs 10 each were to be issued under the plan. Hinduja Global shares closed Monday's trade at Rs 521.05. The company had floated two resolutions through postal ballot to approve the ESAR plan. One covered .

Hinduja Media to roll out video-on-demand, IPTV services

Hinduja Media Ventures Ltd plans to roll out value added services like pre-paid paper view and video on demand over the next two months."We plan to launch the two services in the next two months. Besides, we are looking to enable our digital customers the option of broadband", said Ashok Mansukhani, managing director and chief executive officer of Hinduja Media Group.Going ahead, the company is also aiming to launch IPTV (Internet Protocol Television) services on laptops and mobiles on OTT (Over the Top) technology platform.Commenting on its digital service platform NXT Digital, he said, around 1700 local cable operators have been covered across the country and the focus is now on deepening the network further especially in rural India.On the impact of Goods & Service Tax (GST), Mansukhia said, "GST would not give us an edge but level the playing field with the DTH service providers. Ours is completely a pre-paid model where the operator knows the price and the customer is aware ..

Hindujas urge China and UK to invest in India

India has excellent opportunities for Chinese firms to invest in infrastructure, says Gopi Hinduja

Hinduja Leyland Finance calls off IPO plan

Hinduja Leyland Finance Ltd, a subsidiary of commercial vehicle major Ashok Leyland Ltd offering vehicle finance and loan against property has decided to call off its plans for an Initial Public Offering (IPO). The IPO was expected to take place last fiscal year.The company was expecting to raise around Rs 500 crore as equity through IPO. The IPO was planned during the last quarter of last year and with demonetisation, the company decided not to hit the market during the time."The Board of Directors of HLFL at their meeting held on May 23, 2017 had decided to withdraw the DRHP (Draft Red Herring Prospectus) and accordingly the DRHP had been withdrawn from SEBI on June 16, 2017," said a filing by the company in the Bombay Stock Exchange."The existing investors infused around Rs 250 crore into the company last year. We raised another Rs 100 crore during this quarter, which served the requirement of capital," said S Nagarajan, executive vice chairman of the company.Hinduja Group holds ...

HGS to enhance capacity at Raipur unit by a third

The BPM unit has space for 890 employees currently; firm plans to raise that to 1,200 by year-end

Hinduja Global Solutions looks at acquisitions in Latin America

The company has a surplus cash on the books worth nearly Rs 440 crore as on December 31, 2016

Hinduja Global Solutions looks at acquisition in Latin America

Back-office service provider Hinduja Global Solutions (HGS) is looking at acquisition in Latin America to build digital capabilities and expand on-shore delivery in the region. The Rs 2770 crore business process management solution provider currently has more than 4000 employees servicing its customers in the US through 9 delivery centres. The company has a surplus cash on the books worth nearly Rs 440 crore as on December 31, 2016. "We are now looking at Latin America for inorganic growth. There is cash in the balance sheet. Our current focus is on inorganic growth and we acquired firms in Philippines, Canada to build new capabilities," said Partha DeSarkar, chief executive officer, HGS. DeSarkar added that while the company has made acquisitions in the recent past expand presence in new markets, it would now focus on building capabilities in the areas of Artificial Intelligence, Digital, Analytics. In March 2015, the company's acquired Atlanta-based company Colibrium to ...

Hinduja Global Q3 net rises over two-fold to Rs 47.21 crore

The firm had posted a net profit of Rs 19.97 crore in the year-ago period

Hinduja Ventures rises 4% after board approves divestment in Hinduja Energy

The stock hit an intraday high of Rs 521.25, up 4.25% on the BSE in the early trade

HGS Q2 profits up 18.5% to Rs 37.41 cr

Its revenue grew 15% at Rs 905 crore

Hinduja keen to set up commercial vehicle plant in Jharkhand

Raghubar Das also highlighted the potential of mineral-rich Jharkhand to become an industrial hub.

Hinduja Foundries Ltd to be amalgamated with Ashok Leyland Ltd

Hinduja Foundries is in the business of grey iron castings and supply of automotive components

Hinduja commissions 1,040-mw thermal power project in Vizag

Entire power generated is being sold to state-owned discoms, to cater to growing industrial demand in the belt

Minted and sealed

The Hinduja Foundation is in the process of cataloguing and curating 34,000 coins of ancient India

Markus Wermers resigns as MD, CEO of Hinduja Foundries

D M Reddy has been appointed as the Chief Executive Officer

Hinduja Leyland Finance files DRHP for proposed IPO

Comapny plans to raise around Rs 700 cr; Everstone may partially exit

HGS eyes more acquisitions in healthcare space

The company expects profitability turnaround by first quarter of FY17

Hinduja group formally acquires London's iconic Old War Office building

The building was sold on a 250-year lease arrangement to the companies following a competitive marketing process