TOP CORPORATE NEWS:- 18 Dec 2017

top corporate news
TOP Headlines Of The Day:- 18 Dec 2017

PVR gains on report of increasing number of screens to 1,000
M&M hits fresh highs ahead of going ex-bonus
Petronet LNG gains 4% on revised supply pact for LNG
Dish TV up as govt approves merger with Videocon D2H
Container Corp. to set up Integrated Logistics & Manufacturing Zone
ITC opens Rs1,500cr integrated food park in Punjab, milk-based beverages to be launched

PVR gains on report of increasing number of screens to 1,000
Shares of PVR were up by nearly 3% to a 12-session high on reports that the company is planning to add another 60 screens to its portfolio during Oct-Mar.
The largest domestic multiplex operator expects to have 1,000 screens by 2021-22 (April-March), adding 80-90 screens organically every year, Chairman Ajay Bijli was quoted as saying in the report. Presently, the company has around 600 operational screens in India and will invest about Rs2.0-2.5billion annually going ahead, the report said.

M&M hits fresh highs ahead of going ex-bonus
Shares of Mahindra and Mahindra (M&M) have gained another 3% and has hit a fresh lifetime high yet again. The stock has rallied over 8% in the past three weeks.
M&M will turn ex-bonus on Thursday i.e. December 21, 2017, and the proportion is of 1:1.Every shareholder holding 1 share of M&M will receive one bonus share as on record date.
The company has fixed December 23, 2017, as the record date for the purpose of determining members who would be entitled to the bonus equity shares.

Petronet LNG gains 4% on revised supply pact for LNG
Petronet LNG rose nearly 4% to a six-session high of 257.50 rupees on a pact, which is likely to lead to cheaper liquefied natural gas imports for the company from the Gorgon LNG project in Australia.
The company, after market hours on Friday, informed the exchanges that it has executed the final agreements to revise the pricing terms of its 20-year pact with an affiliate of ExxonMobil to import 1.44 mtpa of LNG from the Gorgon project.
The revised pricing would lead to cheaper LNG imports as the level of oil indexation under the agreement has been reduced “to reflect proximity to the prevailing oil prices informed the company.

Dish TV up as govt approves merger with Videocon D2H
Shares of Dish TV India gained today as it said that the Ministry of Information and Broadcasting has approved the merger of Videocon d2h with the company.
This was the last regulatory approval required for the merger.
Market has relished this development of merger on account of likely synergy benefits. Dish TV India is currently trading at Rs 81.4, up by Rs 1.35 or 1.69% from its previous closing of Rs 80.05 on the BSE. The scrip opened at Rs 82.05 and has touched a high and low of Rs 82.2 and Rs 77.55 respectively. The stock is currently trading above its 200 DMA.

Container Corp. to set up Integrated Logistics & Manufacturing Zone
Container Corporation (Concor) and the Andhra Pradesh government signed a non-binding MOU to set up Integrated Logistics & Manufacturing Zone at Machillpatnam. Under the MOU, Container Corporation will develop a 1,000 acre land parcel to provide Multi-Modal Logistics Facilities. This will be executed in a phased manner through Public Private Partnerships as well as other modes.
The impact from this event is long term in nature and is unlikely to affect near term expectations of earnings or valuation.

ITC opens Rs1,500cr 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.

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