TOP CORPORATE NEWS :- 11 Jul 2017

Corporate News

TOP Headlines Of The Day:- 11 Jul 2017

• Bharti Airtel to invest Rs2,000 crore in Project Next
• Reliance Infra receives approval for $1 bn Greenfield Aerospace Park
• IndusInd Bank Q1FY18: Strong operating performance
• Tata Motors to launch compact SUV Nexon in August
• Glenmark’s Aurangabad plant under USFDA inspection
• Torrent Pharma’s Dahej facility receives form 483 with 5 observations

Bharti Airtel to invest Rs2,000 crore in Project Next
Bharti Airtel to invest Rs2, 000 crores in Project Next to upgrade store – it would help to strengthen its position in India’s hyper-competitive telecom space and to retain market share amid rising pricing pressure from Reliance Jio

Bharti Airtel said that it will invest about Rs2, 000 crore over the next three years for its digital innovation program, Project Next.
As part of the program, Airtel will allow postpaid customers to carry forward the unused part of their monthly data quota to the next billing cycle and provide accident protection for smartphones. It has hired UK’s 8 Inc. to design and conceptualize the Next-Gen Airtel Stores.

Reliance Infra receives approval for $1 bn Greenfield Aerospace Park
Reliance Infrastructure has received government approvals for its planned $1 billion Greenfield aerospace park near Nagpur as per media reports.
The company will start work on first unit by August and hope to complete it by first quarter of 2018. This is positive read thru for Reliance
Infrastructure.

IndusInd Bank Q1FY18: Strong operating performance
IndusInd Bank Net Profit at Rs836.5 crore Vs Rs661.38 crore (YoY)
Net NPA at Rs508.3 crore Vs Rs438.9 crore (QoQ)
Gross NPA at Rs1, 271.7 crore Vs Rs1, 054.9 crore
Gross NPA at 1.09% Vs 0.93%
Net NPA at 0.44% Vs 0.39% (QoQ)
Provisions at Rs310 crore Vs Rs230.5 crore (YoY); Rs430.1 crore (QoQ)
Capital Adequacy Ratio at 16.18%
NII Rs1774 crore.

Tata Motors to launch compact SUV Nexon in August
Tata Motors to launch a compact SUV – Nexon in August 2017; to be priced between Rs 6.5 to Rs 8.5 Lakhs; Positive
Tata Motors is planning to launch a compact SUV- Nexon later in August 2017 based on the company’s new Impact design language.
The vehicle will be available in a 1.2 liter petrol engine and a 1.5 liter diesel engine mated to a 5-speed manual transmission, while some petrol
variants are expected to get a 6-speed AMT (Automated Manual Transmission) gearbox.
Nexon is likely to be priced between Rs 6.5 lakh and Rs 8.5 lakh (ex-showroom price) and would compete with Ford Ecosport, Honda WR-V, Maruti Suzuki
Vitarra Brezza and TUV 3OO.

Glenmark’s Aurangabad plant under USFDA inspection
Glenmark Pharma: As per media reports, Glenmark’s Aurangabad plant will be inspected by the USFDA in upcoming weeks – Stock to remain in focus till
the outcome of inspection is known.

Torrent Pharma’s Dahej facility receives form 483 with 5 observations
Torrent Pharma: As per media reports, Torrent pharma’s Dahej facility has received a form 483 with five observations (inspected between 26 June 2017
to30th June 2017).
Dahej is new plant where the company was expecting to increase the capacity utilization to meet the demand of its products.
This is sentimentally negative for Torrent.

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