Friday, 16 February 2018

16 February 2018 - Views & News


Business Standard

ED steps up heat on Nirav Modi, jewellery worth Rs 5,100 cr seized
PNB fraud: Banks refuse to buy Nirav Modi’s promises
Digital payments in India to reach $1 trn by 2023: Report
Banks' Association moves to check fall out of PNB scam 
PW can carry out audit work till March 2019: SAT
MF investors to get LTCG info from CAMS from April
Govt to come out with new pharma policy: Ananth Kumar
January trade deficit widens to $16.30 bn; exports rise 9%
Centre to change base year for GDP, IIP to 2017-18
Bharti Airtel explores options to list Africa arm on global exchange
Pay retail investors for failure in IPO allotment: Sebi tells bankers
RBI ready to inject addl liquidity into banks by March end
Govt to bring major changes in Drug Pricing Control Order


WPI inflation eases to 2.84% in Jan
India reviews anti-dumping duty on steel wheels from China
Small, medium rubber units hit by shortage of carbon black
GVK Power to divest stake in 3 subsidiaries
Essar sells CBM gas to GAIL using Reliance formula
Zee Learn to acquire 44% stake in MT Educare
Govt drops the idea of an India EV policy
India, Singapore exchanges eye trading link to Modi’s Gujarat
Airtel’s holding company for Africa explores IPO
Idea Cellular board approves Rs3,500 crore QIP
Wind power tariffs stay near record low of Rs2.44/unit in SECI auction

Financial Chronicle

World Bank identifies two global risks that could jeopardise India’s progress
Air India’s unpaid bills likely to raise its debt figure
Carlson-Rezidor Group eyes 100 hotels in India by end-2018
UK-based Liberty House left sole bidder for ABG Shipyard as Shapoorji Pallonji withdraws
Amazon now world’s third-most valuable company
PNB says has ability to recover after uncovering giant fraud
Govt mulls allowing foreign vessels in coastal waters
Revenue & profit of auto firms get a boost in Q3
Steel sector buyouts under IBC may invite CCI scrutiny


Banking Sector: PNB fraud case -  Various Banks are said to have exposures to the $1.8 billion fraud at PNB’s Mumbai Branch, amongst them Allahabad Bank’s exposure at about Rs 4,000 crore, Union Bank at about Rs 1,000-2,000 crore and Axis Bank about Rs 2,000-3,000 crore. ED has seized Rs5100 crore worth assets which could lead to potential recovery – Stocks to remain in focus.

Indoco Remedies: granted EU GMP certification for Goa plant 3 - Positive for Indoco remedies; however resolution of Form 483 for Goa plants will be key monitorable to watch for.

Fortis: Supreme court allows sale of Fortis healthcare shares, pledged with lenders post August 11, 2017 (Yes bank and Axis Bank) – Negative for Fortis; Stock could see selling pressure.

Automobiles: Transport ministry finalises old vehicle scrppage policy; to become effective once approved by cabinet; positive read thru for Auto OEM especially CV Players Ashok Leyland, M&M, Tata Motors, Eicher Motors and Jamna Auto……(details in other news)

Apollo Tyres: Promoters buys Rs1 lakh shares on February 14th 2018, positive read-thru

Bharti Airtel: Airtel explores IPO for its subsidiary in Africa – positive , will unlock shareholder value
Bharti Airtel said the board of Bharti Airtel International (Netherlands) BV has authorized the management to begin non-binding exploratory discussions with banks and intermediaries to evaluate the possibility of a public listing. The company’s aggregate customer base in Africa too increased from 84.1 million as of December end from 76.9 million in the corresponding quarter last year, an increase of 9.4%. Bharti Airtel is exploring options to list its Africa unit on an international stock exchange.


IDBI Bank: The company has divested 30% stake in NSDL E-governance Infrastructure – sentimentally positive

Bajaj Auto; to soon launch the Avenger 180 priced at Rs 83,400 (ex showroom Mumbai) –Positive.
Bajaj Auto is set to launch the new Avenger 180 Street in India in the coming days. The engine on the new Bajaj Avenger 180 Street will most likely be the same 178.6cc, single cylinder unit that runs the Pulsar 180. The new Avenger will be available in a front disc brake and 2 colour options – red and black. The new motorcycle will be priced at Rs 83,400 (ex showroom – Mumbai). The bookings for the new Avenger have commenced at select dealerships and deliveries are expected in the coming few days.

Automobiles: Transport ministry finalises old vehicle scrppage policy; to become effective once approved by cabinet; positive read thru for Auto OEM especially CV Players Ashok Leyland, M&M, Tata Motors, Eicher Motors and Jamna Auto
A policy to scrap vehicles older than 15 years has been almost finalized by transport ministry with Niti Aayog and will be implemented once it is approved by the cabinet. Positive read thru for auto OEM specially commercial vehicle players (Ashok Leyland, M&M, Tata Motors, Eicher Motors, Jamna Auto) as Government plans to cover commercial vehicles in first phase and vehicles older than 15 years are majorly present in CV segment.    

 Idea cellular: As per media news, Idea raised around $535 million, or about Rs 3,500 crore, through a QIP with the price at Rs 82.50 per share at the closure of bids. The share sale is part of Idea’s stated plans to raise Rs 6,750 crore to cut debt and free up cash ahead of its upcoming merger with Vodafone India – stock to remain in focus

Infosys: UCAS appoints Infosys as its core technology partner up to 2021 – positive read-thru
Infosys announced that UCAS has extended its existing partnership with the company to support its business strategy up to 2021. As part of the renewed engagement, Infosys will provide a wide range of digital services that will enable UCAS to continue to develop technology capabilities that connect learners to multiple destinations.

Mahindra & Mahindra: Has entered into an agreement to invest Rs 176 crore (~17% Stake) in Zoomcar India Pvt and Zoomcar USA Inc. The investment  is in line with M&M ‘s strategy to to invest in the shared mobility space as a part of its strategy to promote and participate in sustainable mobility solutions.  The investment will be routed through Mahindra Overseas Investment Company Limited (Maurtius). Positive Read Thru

GAIL (India): To buy 2.3 million standard cubic metres per day of coal-bed methane (CBM) gas from Essar Oil and Gas Exploration and Production’s Raniganj block in West Bengal for $7.1/mmbtu (the price is much higher than the domestic gas price of $2.9/mmbtu on GCV basis). However, we highlight here that formula used to arrive price for CBM gas price is similar to that used for pricing of imported LNG price from Qatar by PLNG (12.67% of previous three months average Brent oil price) as per media reports – sentimentally positive for GAIL.

Marico: Online grooming brand Beardo to expand in salons and organised retail formats – positive read through for Marico as it has picked 45% stake in the online grooming brand
Male grooming brand Beardo, which has a strong online presence, plans to expand in salons, supermarkets and organised retail formats. The company is also looking to start selling its products in the US. Marico has picked 45% stake in the company to expand its online presence.

Yes Bank: To consider proposal to raise funds via debt securities or on private placement basis on Feb20 – Neutral read thru

8K miles: launched proprietary Blockchain platform 8K Health Edge – positive read-thru
8K Miles announced the Company is launching 8K Health Edge (www.8khealthedge.com) a proprietary Blockchain platform which may translate into solutions for some of the most complex problems in global healthcare. According to a June 2017 report from The Economic Intelligence Unit, healthcare and pharmaceuticals, the combined healthcare spending in the world’s major regions is expected to reach USD $8.7 trillion by 2020, up from USD $7 trillion in 2015

PVR: PVR eyes regional language cinemas to drive revenues going ahead – positive read-thru
PVR is betting big on regional language cinemas and expects higher revenues from this segment in the coming years mainly driven by increasing local content and dubbing of Hollywood movies into regional languages. While Bollywood holds the lion’s share at 61% revenue, it is followed by regional and Hollywood movies with 21% and 18% shares, respectively.

Today's Corporate Action 16th Feb Ex Date

ALKEM Interim Dividend - Rs. - 6.0000
GULFOILLUB Interim Dividend - Rs. - 4.0000
HEXAWARE Interim Dividend - Rs. - 1.0000
MARICO Interim Dividend - Rs. - 2.5000
MOIL Buy Back of Shares 
MOIL Interim Dividend - Rs. - 3.0000
NATIONALUM Interim Dividend - Rs. - 4.7000
SUNTV Interim Dividend - Rs. - 2.5000

Thursday, 15 February 2018

15 February 2018 - Views & News


Business Standard

US January CPI posts largest gain in a year 
PNB reports $1.8-bn fraud, new can of worms opens
Bharti Airtel’s subsidiary eyes IPO to unlock value
Singh brothers resign from board of Religare
Piramal Fin eyes Rs 3,000-cr affordable housing deals
New NPA resolution framework positive: Report
After ICRA, CARE downgrades Fortis rating
Jindal Stainless posts over 3-fold jump in Q3 net
Adani looking for foreign coal mines amid challenges in Australia
Sun Pharma Q3 net profit plunges 75% to Rs 3.6 bn on weak US sales
ONGC Videsh offers to invest $6.2 bn in Iran's giant Farzad-B gas field
Jet Airways Q3 net nearly halves to Rs 1.65 bn as fuel costs soar
Sugar mills, farmers stress to continue despite increase in prices


Japan economy grows for eight straight quarter
Allahabad Bank suffers Rs.1,263.8 cr loss in Q3
India reviews anti-dumping duty on steel wheels from China
Wind prices stay low in SECI’s 3rd auctions
Coffee growers want MSP to tide over price crisis
DLF’s net debt down to Rs 5,513 cr;to be debt free by Mar'19
NMDC net profit jumps 49% to Rs 886 cr
Aster DM IPO sees 45% subscription on second day of share sale
Nestle India Q4 profit jumps 60% to Rs312 crore on volume growth
GMR Infrastructure Q3 loss at Rs566 crore
Tata Power Q3 profit declines at Rs612 crore, beats estimate
Riding on regulatory win, Reliance Jio tops Q3 league tables

Financial Chronicle

ICAI to come out with concept paper on virtual currencies
Equity inflow from rights issue to firm Tata Steel's books, says Fitch Ratings
New NPA resolution framework long-term positive: Report
India reviews anti-dumping duty on steel wheels from China
OVL offers to invest $6.2 bn in Iranian gas field
Unsatisfactory jobs, under-employment big problem: NITI
Iran seeks Indian investment amid US pressure
Fortis to acquire Singapore listed RHT for Rs 4,650 crore


Varun Beverages: PepsiCo's chief executive Indra Nooyi indicated in the post earning call that wherever the company finds a good bottler which can run the business better than PepsiCo, the company will refranchise its bottling operation further in India – positive read through for Varun Beverages (covers close to 50% of PepsiCo’s India business).

ZEE Entertainment (ZEEL): launches new digital entertainment platform ZEE5 – this OTT version is the replacement of its existing AVOD and SVOD-based platforms (OZEE and Ditto TV) – positive read-thru, however we need to watch-out the traction among viewers for ZEE5 going ahead, given fierce competition among OTT players (include Amazon prime, Netflix, Hotstar, ALTBalaji, TVFPlay, etc)  in India. … (details in other news)  

Zee Learn: to acquire 44.5% stake in MT Educare for Rs 200 crore – positive read-thru for the stock


Britannia Industries: The company to add 50 new products to portfolio by next 2018-19; it launched 15 new products in the current fiscal which had gain good response in the domestic market – positive read through for the stock 

Torrent Power: signed a pact with Siemens Gamesa to set up 120 MW wind power project.

Indiabulls Real Estate: the Board of the company authorized the decision to evaluate & finalize the options available for the Company for sale of its residential and commercial assets at Chennai, being a non-core market for Company's real estate business operations. Positive read thru for the stock.

ZEE Entertainment (ZEEL): launches new digital entertainment platform ZEE5 – this OTT version is the replacement of its OZEE and Ditto TV – positive read-thru, however we need to watch-out the traction among viewers for ZEE5, given fierce competition among OTT players (include Amazon prime, Netflix, Hotstar, ALTBalaji, TVFPlay, etc)  
ZEEL has announced its own over-the-top (OTT) video streaming platform called ZEE5. ZEE5 will offer the best of original programming including Indian and International movies, as well as TV shows. The platform will also host music, live TV, health and lifestyle content across 12 different languages. The paid content will be available to those subscribing to the ZEE5 subscription pack priced at a special launch price of Rs 99 per month. The actual monthly pack will be priced at Rs 150.

Infibeam: to raise Rs 40 crore by issuing warrants to Network18 – stock to remain in focus

Automobiles: Automobile OEM’s are gearing up for a virtual dealer showroom concept. Vehicle dealers will welcome the change as it would significantly reduce costs, and allow them to focus on delivering the best customer experience. Currently, M&M is the only OEM to showcase the concept and is testing the same.

Today's Corporate Action 15th Feb Ex Date

AVTNPL Interim Dividend - Rs. - 0.2000
BALFC Interim Dividend - Rs. - 0.5000
BHEL Interim Dividend - Rs. - 0.8000
CITURGIA Stock  Split From Rs.10/- to Rs.2/-
CUMMINSIND Interim Dividend - Rs. - 5.0000
GRAPHITE Interim Dividend - Rs. - 5.0000
HEG Interim Dividend - Rs. - 30.0000
HEROMOTOCO Interim Dividend - Rs. - 55.0000
HITECHGEAR Interim Dividend - Rs. - 1.5000
IRB Interim Dividend - Rs. - 2.5000
MODISNME Interim Dividend - Rs. - 1.0000
MUTHOOTFIN Interim Dividend - Rs. - 10.0000
NATCOPHARM Interim Dividend - Rs. - 7.0000
PAGEIND Interim Dividend - Rs. - 35.0000
RANEHOLDIN Interim Dividend - Rs. - 5.5000
RECLTD Interim Dividend - Rs. - 7.4000
SATIA Interim Dividend - Rs. - 1.0000
SHANTIGEAR Interim Dividend - Rs. - 1.0000
SRF Interim Dividend - Rs. - 6.0000
TAKE Interim Dividend - Rs. - 0.3000
TCI Interim Dividend - Rs. - 1.0000
THYROCARE Interim Dividend - Rs. - 5.0000
TIFHL Interim Dividend - Rs. - 0.6000
TORNTPHARMA Interim Dividend - Rs. - 9.0000
UNICHEMLAB Buy Back of Shares 
WHEELS Interim Dividend - Rs. - 6.0000

Wednesday, 14 February 2018

14 February 2018 - Views & News


Business Standard

UK-based Liberty House wants to bid for Bhushan Power
Govt pushes for early closure of PPF a/c, plays down deposit fears
Banks may take Rs 30,500 cr hit on rising bond yields
Top six cos' share in steel output 58% in Apr-Jan
Abu Dhabi oil co to fill half of Mangalore oil reserves
Led by PSBs, NPAs soar 34.5% in Q3; pain to linger on: Report
Indian pharma firms renew focus; Dr Reddy's, Cipla eye $100-bn China market
Six leading cement cos forming a 'cartel' under CCI scanner
Torrent Power, ReNew, Green Infra win big projects in fourth wind bidding
Stoppage of mining in Goa to impact revenue of Rs 34 bn
States may lose Rs 120 bn in share of central taxes over road & infra cess
Reliance Aerostructure-Thales India JV gets CCI approval: Sources


Lenders to finalise winning bid for two Bhushan companies on Feb 23
Panel approves arms acquisition proposals worth ₹15,935 cr
Need to unlock power demand in the country: Minister
Fortis seeks 15-day extension to declare Q2, Q3 results
Tata Steel bags ‘most ethical company’ award
RBI yanks the fig leaf off with new bad loan rules for banks
Telecom department to issue guidelines for M2M communication
Govt explores ‘cheap power’ sales to neighbouring countries
Max Life emerges as front runner to buy IDBI Federal Life
Indian Overseas Bank Q3 loss widens to Rs971 crore as bad loans pinch

Financial Chronicle

GST mop up could top Rs 1 trillion a month post anti-evasion steps
Commerce ministry cancels 8 projects of Navi Mumbai SEZ
NTPC to supply 300 MW power to Bangladesh at Rs 3.42 per unit
Income Tax raid cases not to be processed under e-assessment: CBDT
Fortis board accepts resignations of Singh brothers
‘1.5 lakh e-transactions get compromised daily in India’
64% people opine GST disrupted businesses: Survey
Govt moves hard on shell firms, removes ITR exemption
RBI’s new norms on bad loans wake up call for defaulters: Govt
EPFO may retain 8.65% interest rate for FY18


ALERT: Banking Sector – RBI comes out with new bad loan resolution framework which could lead to earlier recognition of NPAs and faster balance sheet clean up – In the short term it could lead to swelling of NPA levels and higher provisions which could dent earnings, hence negative especially for corporate lenders, however in the long run it is a positive as faster resolution would lead to earlier balance sheet clean up.
·         According to the new framework the lenders have to place a resolution plan within 180 days for accounts with an exposure of Rs2000 crore and above in case of default on or after the reference date (1st march 2018) and in case if not implemented the account must be referred to insolvency courts within 15 days post the given timeline – negative for banking companies in short run, positive for ARCs
·   For accounts with exposure of Rs 100 crore to Rs 2,000 crore a timeline for resolution will be announced over a two-year period.
·  Lenders must now report information to Central Repository of Information on Large Credits (CRILC) for default on loans of Rs 5 crore and above every Friday starting 23rd February 2018.
·  A resolution plan for loans above Rs100 crore should have independent credit evaluation by credit rating agencies and in case of exposure of Rs500 crore above has to be evaluated by two credit rating agencies (positive for Credit rating agencies)
·  Existing schemes such as S4A,SDR and JLF stands to be discontinued with immediate effect.

Indoco Remedies’: Goa plant gets 8 observations under form 483 from USFDA – Negative for Indoco.

GAIL (India): Board of directors of GAIL has recommended the issuance of one bonus share of Rs. 10/each for existing three equity shares of Rs. 10/each fully paid up subject to the shareholders approval – positive read through for GAIL.

TVS Motors: to strengthen no 2 position in scooters with Ntorq, positive…(details in other news)

Bajaj Auto: to commence "Qute" sales in domestic mkt as govt to notify quadricycle as a seprate vehicle category, positive …(details in other news)

M&M sees strong growth in electric vehicles in medium term; eyes 20-25% market share; positive …(details in other news)

CG Power: CGP to sell Hungary business (excluding switchgear business) for 38 million euros (approx Rs 300-350 crores).Deal expected to be completed by March 2018.  We expect debt to come down by similar number; Positive

Defence sector: Government approves Rs16,000 crore arms purchase plan – positive for Bharat Electronics (BEL) – we believe that BEL has significant competitive advantages to capture the large chunk of these defence spends, given its leadership position in Indian defence electronics space

Max Financial Services: Max Life Emerges as front runner to buy IDBI Federal Life as per media reports, Max Life Insurance is most likely to buy 51% stake in IDBI Federal Life Insurance, which is currently valued at around Rs6,000 crore  – Positive read thru


Petronet LNG: Is planning to sign a deal with Sri Lankan government to build a floating liquefied natural gas terminal on take or pay basis along with Japanese partners. Petronet will hold 47.5% stake while Japan's Mitsubishi and Sojitz Corp will take 37.5% stake and the remaining 15% would be held by a Sri Lankan firm as per media reports. The capacity of the terminal had now been raised to 2.6-2.7mtpa from the earlier plan of 1.5-2.0mtpa. We highlight here that Petronet  LNG does not expect any significant capex for Sri Lanka LNG terminal over next one year - long term positive for Petronet LNG.

TVS Motors: to strengthen no 2 position in scooters with Ntorq, positive
TVS recently introduced its all-new sporty 125cc scooter NTorq, targeted at people below 25 years of age, at a price of  58,750. The company expects sales of 15,000-20,000 units a month for NTorq, which will help TVS widen the gap with Hero. As pee the management, 125 cc segment is not adequately served and sees a good opportunity to address the needs of the customers. During April-December 2017, TVS Motor’s scooter market share grew to 16.2 per cent (14.2 per cent) led by continued strong sales of Jupiter and Ntorq is expected to further boost market share. 

Bajaj Auto: to commence "Qute" sales in domestic mkt as govt to notify quadricycle as a seprate vehicle category, positive 
Bajaj Qute will soon be running on Indian roads, as Ministry of Road Transport has decided to set norms for quadricycles as a separate vehicle category in India. Based on vehicle’s weight, engine size and passenger capacity there would be a certain speed limit regulation on quadricycles and will also get standard safety norms for both passenger and pedestrian safety. Government is expected to notify these new rules and regulations in about two weeks. Media reports claim that Bajaj has already asked its suppliers to increase the production of Bajaj Qute components.

Defence sector: Government approves Rs16,000 crore arms purchase plan – positive for Bharat Electronics (BEL) – we believe that BEL has significant competitive advantages to capture the large chunk of these defence spends, given its leadership position in Indian defence electronics space
The defence ministry said it has approved the purchase of defence equipment worth Rs15,935 crore for the army, navy and air force. The Defence Acquisition Council (DAC cleared purchases of advanced torpedo decoy systems (ATDS), light machine guns, assault rifles and sniper rifles, including from the private sector. ATDS will be produced by BEL at an estimated cost of Rs850 crore. The DAC also gave its approval to the procurement of 740,000 assault rifles, through both Ordnance Factory Board and private industry at an estimated cost of Rs12,280 crore. BEL remains our preferred pick on account of its strong manufacturing and R&D base and growing indigenization.

Britannia - Plans to add 50 new products to portfolio by March 2020 – positive read through
Britannia Industries has plans to launch around 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to be a total food company.  It will launch dairy products and croissants by October-November through its joint venture with Greek cakes and confectionery major Chipita. Besides, the company will continue with its strategy of adding new countries in its list and scout for new markets in Africa, while foraying into Bangladesh and Myanmar.

M&M sees strong growth in electric vehicles in medium term; eyes 20-25% market share; positive
Mahindra expects electric vehicle sales to gain momentum and expects the country to get to about 3,000 EVs a month by the end of the next financial year. It also expects  to reach around 700 electric vehicles a month by that time. Mahindra expects EV industry to reach  about 20,000 vehicles a month by 2022 and is targeting a 20-25 per cent market share.

Reliance Industries (RIL): Reliance JIO, subsidiary of RIL, is expected to launch broadband services with JioFiber in March-2018 as per media reports. JioFiber is currently in the testing phase in 10 cities across the country. The JioFiber preview offer is likely to provide 100GB of free high-speed data per month for the first three months as per media reports – positive read through for RIL but negative for Bharti Airtel.

L&T: L&T hydrocarbon business wins an order worth Rs 2200 crore from Abu Dhabi. Positive

Kaveeri Seeds: Andhra Pradesh government issues show-cause notices to Nuziveedu Seeds, Kaveri Seeds for HT( herbicide-tolerant)  cotton seed use for reported use of the illegal gene in some of their samples.

Tech Mahindra: Tech Mahindra and VMware collaborate to drive telco network and service transformation – positive read-thru
Tech Mahindra and VMware announced a new collaboration to deliver solutions that accelerate network transformation for Communication Service Providers (CSPs). Through this expanded relationship, the companies will combine VMware’s production-proven, 5G and OpenStack-ready network functions virtualization (NFV) platform with Tech Mahindra’s Network Services to enable global CSPs to accelerate new service delivery.

Idea Cellular: raises Rs 3,250 crore through preferential allotment to promoters – stock to remain in focus

Monday, 12 February 2018

12 February 2018 - Views & News


Business Standard

Inflation to moderate to 5% in Jan: Report
Ebix front runner to buy Educomp with Rs 325-cr offer
Insurance industry set to touch $280 bn by 2020: Naidu
RInfra bags Rs 567 crore order from NTPC
'Govt saved Rs 56K cr through Aadhaar-enabled DBT'
Govt releases Rs 9,940 cr for Smart Cities Mission
ONGC acquires 10 per cent stake in UAE's oil offshore concession
Bank haircuts on NPAs go up to 80%; 9 of 12 firms enter bidding stage
Bad news for Adani Power as Jharkhand rejects Rs 120-bn bid to set up SEZ
NTPC may borrow Rs 160 billion in FY18 to add 6,900 Mw capacity by Mar 
Lucknow to float municipal bonds of Rs 1 billion to fund infra projects
Bank of England reading inflation, no hurry to raise rates: Chief economist


Equity bubble: RBI, SEBI need to be cognizant of risks going forward, says RBI Guv
Mumbai is 12th richest city globally with  wealth at $90 bn
IRFC will diversify lending, but tread cautiously
Eight tax officers to handle GST-related queries on Twitter
Wipro arm launches Internet of Lighting solutions with Cisco
Bike-makers gearing up for new brake systems
Singapore Exchange to open trading in Indian products as per normal
Rules on cryptocurrencies should be out soon: Sebi chief
Coal India Q3 profit up 4% at Rs3,004 crore
RBI to have additional instrument for liquidity management
Real estate back on recovery path: Survey
Tata Motors to leverage group strength on future of mobility: MD Guenter Butschek

Financial Chronicle

New rules on corporate bonds by September: Sebi chief Ajay Tyagi
Fiscal situation to be comfortable in FY19, says FM Arun Jaitley
Government measures to ensure MSMEs become growth engine: DFS Secretary Rajiv Kumar
Ikea opens distribution centre in Pune; to invest Rs 750 crore in Maharashtra
Centre sees 45% fall in customs collection in FY18
Sops to oil, gas producers under new E&P policy
Cost of funds low, but not many takers for gold loans
Bombay HC pulls up Centre for GST pomp, glitches


BSE Ltd : NSE and BSE has terminated data sharing licensing agreements with foreign exchanges with immediate effect. Though , SGX Nifty will continue till August 2018 as per the sharing agreement with NSE. This is to adversely impact income from data dissemination for BSE. However, trading from foreign exchanges is expected to shift to international exchange of BSE The move will remove the overhang for shifting of trade volumes from Indian bourses; positive

Cadila: Healthcare’s key manufacturing facility, Moraiya,  successfully completes USFDA audit with zero observation –Positive for Cadila.

Oil India Limited (OIL): Board of directors of OIL has recommended issue of bonus shares in the ratio of 1:2 (i.e. one bonus equity share of Rs. 10/- each for every two existing fully paid up equity share of Rs. 10/- each) subject to approval of the shareholders - positive read through for OIL.

Oil & Gas: ONGC Videsh led Indian consortium acquires 10% stake in Lower Zakum Concession, offshore Abu Dhabi for $600million; positive read through for ONGC, IOCL and BPCL
A consortium of ONGC Videsh (subsidiary of ONGC), Indian Oil Corporation and Bharat Petro Resources Limited (subsidiary of BPCL) has acquired 10% stake in Lower Zakum Concession, offshore Abu Dhabi at a sign up bonus amount of $600million. The Concession has a term of 40 years with effect from 9th March 2018. The current production from the field is around 400,000 barrels of oil per day and annual share of the Indian consortium will be 2mmt - positive read through for ONGC, IOCL and BPCL.


Tata Motors: global sales increase 20% in January at 114,797 units; nos in line with estimates
Tata Motors reported 20 per cent increase in global wholesale sales, at 114,797 units. The company had sold a total of 95,081 units in the same month last year. Tata Motors' commercial vehicles and Tata Daewoo range in January 2018 stood at 44,828 units, up 32 per cent from the same month last year. The company's global wholesales of all passenger vehicles in January this year were at 69,969 units, higher by 13 per cent from 61,918 units in the same month last year. Global wholesales for Jaguar Land Rover were 49,631 vehicles up 5% yoy.

Paper Sector: With imported pulp prices on a high, paper manufactures feels the pinch.
Imported Pulp prices hit 7 year high and are expected to remain elevated for some time. Hardwood pulp prices are around US$700/tonne where as softwood pulp prices are around US$860/tonne. However manufactures are expected to pass on the higher raw material cost to consumers.

Tata Motors: to leverage group expertise to remain abreast with development in the automobile industry. The company is banking, particularly on software major TCS in its bid to position itself as a mobility solutions provider

Friday, 9 February 2018

9 February 2018 - Views & News


Business Standard

Separate route on anvil for individual insolvency cases
Swiss Re in talks to sell stake to SoftBank
Singh brothers resign from Fortis Healthcare board
India to seek lower oil rates from Saudi Arabia, US
Tata Steel, JSW submit bids for Bhushan Power & Steel
PSBs need Rs 2.06 tln capital for 8-9% credit growth
US jobless claims unexpectedly drop to near 45-yr low
CCI slaps Rs 1.36-bn fine on Google for unfair business practices
Odisha's penalty collection touches Rs 112 bn from mining operators
State-owned banks need Rs 2.06 trn for 8-9% credit growth in FY19: Ind-Ra
European Central Bank tightens collateral rules for tapping its cash
Prestige, HDFC Capital to invest Rs 25 bn in affordable housing projects


80,000-crore stressed loans in MSME sector’
Govt imposes stockholding limits for sugar mills
Govt's economic policy a betrayal: Chidambaram
Dr Reddy’s recalls 80,000 bottles of Atorvastatin from US
Cadila Healthcare net profit zooms to Rs 306 cr
BHEL Q3 net up 64% at Rs 153 cr; declares 40% dividend
ACC Q4 profit rises 126% to Rs206 crore
BOE sees need for faster rate hikes as growth outlook raised
Cryptocurrencies are like ponzi schemes: World Bank chief
Bharat Forge Q3 net profit jumps 77.39% to Rs228.17 crore
Coal India sales to power sector rise 6%
BlackRock is said to seek $10 billion to buy company stakes


Additional 3 crore free LPG connections to cost Rs 4,800 cr
China worried over US trade relations as surplus narrows
Supreme Court order will impact our mines in Goa, says Vedanta
Winter Olympics 2018: Reliance Jio bags digital rights to broadcast in India
India ranks 44 out of 50 nations in global IP index
St snaps seven day losing streak, Sensex rebounds 330 points
New auto sector policy likely in two months
UK watchdog justifies £550-mn Tata Steel pensions aid


Fortis Health: Promoters  Malvinder Mohan Singh and Shivinder Mohan Singh have tendered their resignation from the directorship of Fortis Healthcare the Delhi High Court order upholding the Rs 3,500-crore arbitral award in favour of Daiichi Sankyo. Stock to be in focus

TVS Motors: Unevils TVS Creon – a concept Scooter and Zepplin (power cruiser motorcycle) at the Auto expo – Positive read thru.
TVS Motors has unveiled the TVS Creon electric scooter concept. The new scooter is a performance oriented, electric scooter concept and is equipped with a next generation electric motor and is powered by 3 Li-ion batteries that are capable of delivering 12 kW of instantaneous power. The scooter has a range of 80 km. The battery can be charged to 80% within 60 minutes of charge. Also the company unveiled a cruiser motorcycle – TVS Zepplin power cruiser motorcycle. The motorcycle comes fitted with a 220cc engine that is mated to the company's patented Integrated Starter Generator (ISG). Also A 1200W regenerative assist motor coupled to a 48V Li-ION battery has been fitted on the motorcycle.


Hindustan Unilever: The company will pay Rs 119 crore as GST benefit accrued to the government during the transition phase of rate reduction for some of the categories – neutral for the stock as it will have no major impact on earnings or balance sheet.


Axis Bank: Axis Bank has sold 20 lakh shares of NSDL at Rs 825 each for Rs 165 crore – positive read thru


Eros international: divests its entire 51% stake in Ayngaran International (operates in Tamil content and distribution industry) to a British citizen

GIC Re: GIC Re may retain its first preference in several areas of business if draft regulations proposed by an expert committee get accepted by the insurance regulator – positive for GIC Re