TOP CORPORATE NEWS :- 9 June 2017

Corporate News

TOP Headlines Of The Day:- 9 June 2017

Marico looks to diversify product portfolio in Bangladesh
Reliance Nippon gets approval from board for IPO
Infosys founders think of breakup but why?
MRPL, HPCL may join hearts for better future
Unichem lines up Rs 350 cr capex for next two years

Marico looks to diversify product portfolio in Bangladesh
Marico looks to diversify product portfolio in Bangladesh – positive read through for the stock
With operations in Bangladesh (accounts for 44% of Marico’s international business) see a recovery in demand, Marico is looking to accelerate the diversification of its non-coconut oil-based offerings there.
Currently, about 77 percent of the portfolio includes “Parachute” coconut oil, while 23 per cent is non-coconut oil (including value-added hair oils, deos, etc).
Over the last three-to-four-year period, it started pushing value-added hair oils like perfumed coconut oil, hair-fall control oil, amla oil and cooling oil; youth portfolio (deos and male grooming offerings).
The plan is to take the share of non-coconut oils to 30 per cent (of its total portfolio) over a two-year period. Value-added hair oils and male-grooming products will be the growth drivers.

Reliance Nippon gets approval from board for IPO
Reliance Capital: Reliance Nippon Life Asset Management (RNAM) has got approval from its board of directors for an initial public offer of AMC.
Reliance Nippon Life Asset Management is a subsidiary of Reliance Capital with Reliance Capital holding 51% stake in the AMC – Positive read thru.

Infosys founders think of breakup but why?
Infosys founders looking to sell their stake in company could act as an overhang on the stock price – stock in focus
The promoters group holds 12.75% stake in Infosys, out of which Narayana Murthy and his family (the largest promoter shareholders) have a stake of 3.44%. However, These are the media reports and the official comment is yet to arrive from the company.
Also, Narayana Murthy (Founder member) has already denied there was any move to sell the promoter holding in the company. If founders/co-co-founders
opt to sell a stake in Infosys, it could be an overhang for the stock price.

MRPL, HPCL may join hearts for better future
Mangalore Refinery and Petrochemicals (MRPL) could get merged with Hindustan Petroleum Corporation (HPCL) gave the synergies from being into similar the business of crude refining as per media reports.
We highlight here that Oil and Natural Gas Corporation (ONGC) and HPCL holds 71.63% and 16.96% stake in MRPL respectively – positive for MRPL.

Unichem lines up Rs 350 cr capex for next two years
Unichem Laboratories has lined up Rs350 crore capex for next two years. The company, which focuses on various therapeutic segments like gastroenterology and cardiology,
expects its US revenues to cross $100 mn over the next few years.

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