TOP
NEWS
Cipla: Company receives USFDA
approval for Testosterone Cypionate injection (male hormone replacement therapy
drug) – Positive for Cipla; We have a buy recommendation on the stock with PT
of Rs665; Cipla is one of our preferred pick.
Indian Hotels Company: The
company won the bid for a 85 rooms hotel located in Connaught place, Delhi;
IHCL will pay 31.8% of gross revenues or Rs5.89crore per annum as a fee –
positive read through for IHCL as Taj Mansingh is likely to get auctioned in
the coming months
Gayatri Projects: The UP
Government has cancelled the earlier bid of Rs1,111 crore on the Purvanchal
Expressway Project and has re-invited the bids. Gayatri Projects was declared
as L1 (Lowest) bidder for Package VI of the said project on an EPC basis, which
now stands cancelled. Negative read thru for Gayatri Projects
OTHER
NEWS
BHEL: bags two orders totaling
to Rs 1,000 crores orders for emission control equipment, involving supply and
installation of flue gas desulphurization (FGD) systems for control of SOx
emissions, from Telangana State Power Generation Corporation for its 1x800 MW
Kothagudem thermal power station (TPS) and 4x270 MW Bhadradri TPS in Telangana;
Positive
Mahindra Lifespace Developers:
International Finance Corporation shall invest upto Rs 200 crore in Mahindra
Lifespace Developers’ Jaipur Project. Positive read thru for Mahindra Lifespace
Developers
InterGlobe Aviation: clarified
that it has not received summons from the Enforcement Directorate for FEMA
violation as against news being telecast on various news channels stating ‘ED
summons top management of Indigo Airlines for FEMA violation’. Positive read
thru for Interglobe Aviation.
Emami, HUL: Emami has secured
an ad-interim order from a Hooghly district court restraining Hindustan
Unilever Ltd (HUL) and seven broadcasters from airing HUL’s new television campaign
on Men's Fair and Lovely fairness cream – sentimentally positive for Emami;
neutral for HUL
M&M: launches TUV3OO Plus,
which is a 9 seater variant of its existing vehicle - TUV3OO. The vehicle is
powered by 2.2 litre (120 HP) diesel engine mated with a 6-speed manual
transmission. The TUV3OO plus is priced at Rs 9.59 lakh (ex-Showroom
Delhi). the variant would appeal to customers looking for more space and
power. TUV300 Plus comes with various features including micro hybrid
technology and cushion suspension technology. Positive read thru
Eicher Motors: VECV To launch
new products to regain market share in LMD; launches 2 new CNG variants of its
Eicher Pro 1000 series truck in the LCV segment in the Delhi and NCR region –
Positive read thru
VE Commercial
Vehicles Ltd (VECV), an equal joint venture between Eicher Motors and Volvo
Group of Sweden, is charting aggressive plans to regain its share in the light
and medium commercial vehicle segment. It has planned an interesting
portfolio of products to be launched starting next month. As per the
company, The new product will offer higher speed and turnaround time along
with other features. Also, The company has launched the
CNG version of Eicher Pro 1049 in the light and medium range and Eicher Pro
1059 truck in the 5-ton LCV category. The two CNG trucks have been introduced
in Delhi, Haryana and UP markets and will be available across India in various
cargo body option right from 10ft to 14ft. These new trucks powered by CNG fuel
is is expected to give 40% more fuel efficiency over diesel-powered trucks.
Axiscades: signed joint venture pact with Assystem in energy, buildings, infrastructures and nuclear sectors – positive read-thru
This JV company will undertake
engineering services for energy sector business for Indian and global utilities
and contractors. The JV will start its operations in Hyderabad and plans to
open two more centers in Delhi and in Mumbai with proximity to key customers.
The JV plans to employ over 500 talented engineers in the next three years.
IDBI Bank: The government has given B Sriram,
the current SBI managing director, an additional charge of IDBI Bank's managing
director for three months – Neutral read thru
Bosch: eyes Rs 1,700-cr investment in IoT and AI over the next 3 years; positive
Bosch will invest Rs 1,700 crore in the next three years in India as it hedges its opportunities in both electric, diesel vehicles and also transitions into a technology company by focussing on Internet of Things (IoT) and Artificial Intelligence (AI). Bosch is now betting on shifting its focus on technologies like AI and IoT as it sees the consumer shift towards that direction. In line with this change, the Adugodi plant in Bengaluru is being revamped from a manufacturing facility into a technology hub with investments of Rs 370 crore. Simultaneously, Bosch set up an AI centre in Bengaluru, and a Connected Mobility Solutions division in India too, with an intent to shape the mobility of the future from a technology and standards perspective.
Bank of Maharashtra: CEO and executive director booked for role in Rs 3,000 crore DSK Group default case – Negative read thru
Bayer,Monsanto: Bayer-Monsanto takeover approved by Competition Commission of India, Bayer & Monsanto products complement each other as Bayer CropScience products were more so in agro chemicals and Monsanto products in seed, the combined entity is expected to obtain administrative synergies in addition to increase in volumes sales due to cross selling – sentimentally positive for both the stock.
Majesco: selected by NTUC Income (Singapore insurance company) for distributing solutions – positive
Majesco announced that NTUC Income has selected the Majesco Distribution Management and Majesco Digital Solutions to optimize management of its sales and distribution channels across the insurance business.
