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TOP Headlines Of The Day:- 16 Nov 2017

NTPC’s arm inks loan agreement with REC
HDIL stock jumps 3% as Andhra Bank withdraws insolvency plea
Federal bank eyes stake in microfinance firm may divest stake in Fed final
DLF has seen upon report Singapore wealth fund hikes stake
Glenmark launches nicotine replacement therapy in India
Crisil to acquire 100% stake in Pragmatix Services for Rs 560 million

NTPC’s arm inks loan agreement with REC
NTPC’s arm – Patratu Vidyut Utpadan Nigam (PVUNL) and Rural Electrification Corporation (REC) have signed a loan agreement for establishing the 3×800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand.
The project cost of Rs 18,668 crore is funded in a debt-equity ratio of 75:25 and Rs 14,000 crore. The entire debt component of the project is sanctioned by REC as the sole lender for the project. PVUNL is a subsidiary of NTPC holding 74% stake in the company.
This is the positive outcome for NTPC, as it would help NTPC to get the project completed sooner and will improve its revenue. Pickup in capacity addition bodes well for NTPC’s earnings growth. We expect regulated equity to grow at ~18% CAGR and consolidated PAT to grow at 15% CAGR over FY17-20E.

HDIL stock jumps 3% as Andhra Bank withdraws insolvency plea
Shares of Housing Development & Infrastructure recovered from the early session weakness and jumped over 3% to a high after the company said that Andhra Bank has withdrawn a plea against it in the National Company Law Tribunal.
On October 30, Andhra Bank had filed an insolvency petition against city-based realtor on failure to repay Rs 550 million invested by the bank in the HDIL’s non-convertible debentures, as per media report.
The company said that the aforementioned plea stands withdrawn as it has reached a settlement with the lender and has made part payment of its balance dues, it said in the BSE filing.

Federal bank eyes stake in microfinance firm may divest stake in Fedfina
Federal Bank plans a business overhaul by investing in a microfinance company and exploring opportunities in the asset management/ mutual fund (MF) business.
The bank also plans to divest a 26% stake in its wholly-owned NBFC arm, Fedfina to a strategic investor. Fedfina, is present in SME-focused mortgage loans, gold loans and structured finance. It has a loan book of ~ Rs 1,250 cr and a net worth of Rs 240 cr. It operates in Tamil Nadu, Karnataka, Andhra Pradesh, West Bengal, Rajasthan, New Delhi, Gujarat and Maharashtra. The management expects that stake sale may materialize by the end of this fiscal.

DLF seen up on report Singapore wealth fund hikes stake
DLF’s stock is likely to gain today after a media report said that Singapore sovereign wealth fund, GIC, has raised stake in the company to over 5%.
GIC bought 1.2 mn additional DLF shares from the open market, the report stated.
Prior to the purchase, GIC held 3.81% stake in the company, according to DLF’s shareholding data till September 30.
In the last trading session, DLF Ltd ended at Rs 204.05, up by Rs 0.5 or 0.25% from its previous closing of Rs 203.55 on the BSE. The scrip had opened at Rs 204.05 and touched a high and low of Rs 204.05 and Rs 204.05 respectively. The stock traded above its 100 DMA.

Glenmark launches nicotine replacement therapy in India
Glenmark Pharmaceuticals Ltd, a research-led global integrated pharmaceutical company, announced the launch of Kwitz, a medically approved nicotine replacement therapy that helps smokers embark on a step by step journey towards a smoke-free life. Kwitz Nicotine gum will be available in two variants.
Kwitz 2mg will be available as an OTC product for smokers having less than 20 cigarettes per day and Kwitz 4mg for smokers consuming more than 20 cigarettes per day as a prescription product.

Crisil to acquire 100% stake in Pragmatix Services for Rs 560 millions
Crisil informed that it has executed binding agreements to acquire 100% of the equity share capital of Pragmatix Services Private Ltd at a price consideration not exceeding Rs 560 million, in its filing on BSE made on November 15, 2017.
The target company, Pragmatix Services Private Ltd was incorporated in 2010 and is in the business of providing software products and services in the areas of business intelligence, analytics, and consultancy/implementation services. The consolidated revenue of the company for FY 2017 was Rs 172 million.
The acquisition will strengthen the company’s position as an agile, innovative and global analytics company. It will also enable the company to leverage its deep domain expertise and enhance its business intelligence, analytics, and risk management offerings for financial sector clients in India and Globally.

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