TOP CORPORATE NEWS:- 20 Dec 2017

top corporate news
TOP Headlines Of The Day:- 20 Dec 2017

Cholamandalam Investment to set-up housing finance company
Havells owned brand “Standard” to strengthen its consumer product portfolio
Bharti Airtel and Tata Tele announce ratio for demerger of consumer business
HDFC Bank to raise funds up to Rs24,000 cr
Strides Shasun surges on acquiring controlling stake in Trinity Pharma
HDFC Ltd to raise up to Rs13,000cr

Cholamandalam Investment to set-up housing finance company
The board of directors of Cholamandalam Investment and Finance Company has approved a proposal to set up a Housing Finance Company (HFC). The board also approved necessary authorizations to make an application to National Housing Board and do the needful in this connection.
Besides, the board has approved the issuance of 500 Masala Bonds in the nature of Secured Redeemable, Non-Convertible Debentures of a face value of Rs1cr each at par aggregating to Rs500cr in one or more tranches on private placement basis.

Havells owned brand “Standard” to strengthen its consumer product portfolio
Standard, a well‐known brand of Havells India Limited (Havells), today shared its strategy to strengthen its consumer product portfolio and double its revenues from the East in next 3‐4 years. As part of the strategy, the company today unveiled a premium range of technologically advanced and aesthetically designed Water Heaters. The new range of water heaters would come in five variants christened as “Zoe & Zoe Prime”, “Ameo”, “Amazer” and “Lyft” with a capacity ranging from 1 ltr to 25 ltr.
Havells expects revenues of Rs1,000cr from “Standard” by FY20-21. The brand focused on youth, has already doubled its revenues in last 3 years and a similar performance is expected to go ahead. The newly launched range of water heaters along with other consumer and industrial products would also be available through its exclusive brand shops popularly known as “Standard Galleries”. “Standard” would double these Brand Shops by end of FY19.

Bharti Airtel and Tata Tele announce ratio for demerger of consumer business
Bharti Airtel and Tata Teleservices (Maharashtra) Ltd (TTML) have announced a scheme of arrangement as part of Bharti’s takeover of TTML’s consumer wireless business. As per the scheme of arrangement, TTML shareholders would get 1 share of Bharti Airtel for every 2,014 shares of TTML.
In October 2017, Bharti had made an agreement with TTML to take over the latter company’s consumer mobile business along with part of TTML’s spectrum liability. TTML has been under a lot of financial pressure to pay back near its debt of ~Rs 14,305cr. TTML posted a loss of Rs 8,194.67 cr in Q2FY18 mainly on account of write off due to its consumer mobile business.

HDFC Bank to raise funds up to Rs24,000cr
HDFC Bank has received an approval for raising funds aggregating up to Rs24,000cr. The board of directors at its meeting held on December 20, 2017 (today) has approved the same. Of the total, the bank will raise funds an amount up to a maximum of Rs8, 500 cr through the issuance of equity shares of face value of Rs 2 each of the bank pursuant to a preferential issue to Housing Development Finance Corporation (the Promoter). The balance funds shall be raised through the issuance of Equity Shares/convertible securities/depository receipts pursuant to a Qualified Institutions Placement (QIP)/ American Depository Receipts (ADR) / Global Depository Receipt (GDR) program.
The fundraising will act positively for the bank as it would improve its capital adequacy ratio to fund its future loan growth. HDFC Bank had last raised Rs9, 800cr in February 2015 through a mix of ADRs and a QIP. We remain upbeat on the stock given the bank’s strong competitive funding profile, high operating efficiency, and robust capital position. The stock is trading at ~3.4x FY20E P/BV.

Strides Shasun surges on acquiring controlling stake in Trinity Pharma
Shares of Strides Shasun have surged by 3% after the company announced that Strides Pharma Asia Pte Ltd., Singapore, a wholly owned subsidiary of Strides Shasun Limited entered into definitive agreements with Trinity Pharma Proprietary Limited, South Africa (Trinity) for the acquisition of controlling stake in Trinity.

The strategic rationale for the deal is as follows:
The transaction allows Strides to establish a presence in the high entry barrier market of South Africa where product dossier approval takes more than 5 years. Provides access to the pipeline of more than 110 product dossiers already submitted. The acquisition comes with proven management and expertise in business development, marketing & regulatory services. Will be an important platform for Strides’ ARV launch in the large, private non-tender market in South Africa. Provides established distribution channel for faster commercialization of existing products of Strides, already registered in South Africa.

HDFC Ltd to raise up to Rs13,000cr
The Board of Directors of HDFC Ltd (Corporation) at its meeting held on December 20, 2017, approved raising of funds by issue of equity shares and/or other permissible securities to an aggregate amount not exceeding Rs13, 000cr.
The Corporation in its press release has mentioned that it will consider raising funds by issue of equity shares or compulsorily convertible debentures or warrants or a combination thereof. The issue will be a preferential issue or qualified institutions placement basis or through any other permissible mode or the combination thereof, subject to necessary shareholder and regulatory approval.
The Corporation will increase its authorized share capital to Rs370cr comprising 185 crore equity shares of Rs2 each from the existing Rs350cr.

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