TOP CORPORATE NEWS:- 15 Dec 2017

top corporate news
TOP Headlines Of The Day:- 15 Dec 2017

HDFC group stock up post fundraising proposal
Mahindra to take price hike of up to 3% from January 1, 2018
ITC opens Rs1,500 cr integrated food park in Punjab, milk-based beverages to be launched
AstraZeneca to launch diabetes drug – Xigduo XR in FY18
Tyre stocks rise; Apollo Tyres stock surges 4%
Adani group rallies on Gujarat exit poll results

HDFC group stock up post fundraising proposal
The stocks of HDFC group were up following a fundraising proposal. HDFC Bank is up by 2.28% at Rs1, 880, while HDFC Ltd stock is up by 1.3% at Rs1,730. HDFC bank’s board will meet on Wednesday, December 20, 2017, to consider a proposal for raising funds. It is considering raising funds through a qualified institutional placement, which may also include a preferential issue to its parent HDFC Ltd. The fundraising will act as a
positive for the bank as it would improve capital adequacy ratio to fund future loan growth. HDFC Bank had last raised Rs9, 800cr in February 2015 through a mix of ADRs and a QIP. HDFC bank stock is trading at 3.4x FY20E P/BV. We have positive outlook the stock.
Mortgage lender HDFC Ltd., which holds 25.7% in HDFC bank, will also consider raising capital on December 19, which would be used to subscribe to HDFC Bank’s preferential allotment. This will improve its stake in HDFC Bank which will act positive for the mortgage lender.

Mahindra to take price hike of up to 3% from January 1, 2018
Mahindra & Mahindra (M&M) is set to take price hikes up to 3% on its passenger and commercial vehicles from January 1, 2018, as per media sources.
With increasing input prices, company has decided to pass on the burden and take price hike across its product range.
The company sells a range of vehicles, including SUVs Scorpio and XUV500, in the country.
Yesterday Maruti had announced price hike of ~2% starting January 2018. Earlier other players viz. Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu already announced price hikes from early next year.
M&M derives revenue from farm equipment (50%), automotive including 2W (27%), financial services (18%) and others (5%) as on FY17. It is a market leader in the tractor industry with share of ~44% as on 1HFY18. On account of new launches and normal monsoon, Management expects the industry to grow at 12-14% in FY18. In the automotive business, M&M expects UV segment to perform well backed by two new launches and three product refreshes.

ITC opens Rs1,500 cr integrated food park in Punjab, milk-based beverages to be launched
ITC rolled out its largest integrated food manufacturing and logistics facility at Kapurthala, Punjab on December 14, 2017, as per media sources.
This unit would have the wheat mandis as well to procure the grain from farmers, in addition to FMCG units. The facility is spread across 8 lakh sq.ft with initial investment of Rs1, 500cr and would be producing atta, noodles, wafers, biscuits, fruit juices and other fruit-based beverages.
In addition to FMCG products, ITC would launch a range of ready-to-drink milk-based beverages and frozen desserts from this new plant to accelerate its dairy business. The first dairy-based product is expected to be launched in the second or third quarter of next fiscal year. ITC’s expansion plan in dairy business is a part of its long-term goal of reaching Rs100,000cr revenue from the non-cigarette business by 2030.

AstraZeneca to launch diabetes drug – Xigduo XR in FY18
AstraZeneca plans to launch Type 2 diabetes drug -Xigduo XR in the fourth quarter of FY18 subject to the receipt of import and market permission from the drugs controller general of India.
Xigduo XR is a fixed-dose combination (FDC) of Dapagliflozin+Metformin hydrochloride film coated tablets. The tablet has already been approved in 61 countries including US, EU and Japan.
The tablet is indicated as an adjunct to diet and exercise to improve glycemic control in adults with Type 2 diabetes mellitus when treatment with both dapagliflozin and metformin is appropriate. This will provide physicians and patients with an advanced treatment option that also provides potential weight loss and the reduced risk of hypoglycemia.

Tyre stocks rise; Apollo Tyres stock surges 4%
Shares of tyre companies surged 2-10% on subdued rubber prices globally.
Apollo Tyres Ltd is currently trading at Rs250.3, up by Rs9.4 or 3.9% from its previous closing of Rs240.9 on the BSE. The scrip opened at Rs241 and has touched a high and low of Rs253.75 and Rs241 respectively.
JK Tyre & Industries Ltd is currently trading at Rs138.3, up by Rs9.05 or 7% from its previous closing of Rs129.25 on the BSE. The scrip opened at Rs131.55 and has touched a high and low of Rs142 and Rs130.25, respectively.
CEAT Ltd is currently trading at Rs1775.4, up by Rs54.2 or 3.15% from its previous closing of Rs 1721.2 on the BSE. The scrip opened at Rs1730 and has touched a high and low of Rs1788.6 and Rs1730, respectively.

Adani group rallies on Gujarat exit poll results
Shares of all listed Adani Group companies traded up today after exit polls by polling agencies predict a BJP win in Gujarat. Adani Enterprises, the flagship company of the Adani Group, is currently up 3.5% after having opened 5% up. Adani Transmission, too, was up 5%, followed by Adani Power (3%) and Adani Ports and Special Economic Zone (1.8%).
The exit polls released on Thursday evening predicted that the BJP would retain Gujarat by winning anywhere between seats. Exit polls also predicted that the BJP would oust the Congress from Himachal Pradesh.

Capitalstars is an Award Winning, SEBI Registered &ISO Certified Company in Indore, they provide Equity, Commodity, Nifty & forex trading calls with profit in your trading.

Also Visit:-
capitalstars quick payment
capitalstars career

GET MORE DETAILS HERE:-

Trading Tips
Stock Tips
Stock Advisory Company
Financial Advisory company
Share Market Company
Forex trading tips
Currency Tips

* INVESTMENT & TRADING IN SECURITIES MARKET IS ALWAYS SUBJECTED TO MARKET RISKS, PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE PERFORMANCE.
* CAPITALSTARS INVESTMENT ADVISER: SEBI REGISTRATION NUMBER: INA000001647

 

Advertisements