TOP CORPORATE NEWS:- 21 Dec 2017

top corporate news
TOP Headlines Of The Day:- 21 Dec 2017

Havells India forays into water purifiers
Cadila Healthcare jumps 2% on USFDA approval for hypertension drug
Pidilite Industries board to consider buyback of equity shares; stock up 4%
Cabinet approves Rs1,300cr to train 10 lakh textile workers
M&M and Castrol India is down after going ex-bonus

Havells India forays into water purifiers
HIL has entered water purifier segment with six variants that are priced between Rs10, 499 and Rs23, 999. In the usual RO process, most minerals are lost, which leads to dropping in pH of water. This low pH turns water acidic and corrosive thereby harming the human body. HIL water purifiers are designed to purify water through 100% RO and UV purification while maintaining healthy pH levels.
India water purifiers market stood at US$603 mn in 2016 and is projected to grow at a 21% CAGR during 2017 – 2026, to reach US$4,277 mn (source:
TechSci Research). Rising industrialization, increasing health concerns, and consumer awareness will be the key growth drivers.

Cadila Healthcare jumps 2% on USFDA approval for hypertension drug
Zydus Pharmaceuticals (USA) Inc., a wholly owned subsidiary of Cadila Healthcare Limited (Cadila), received final USFDA approval to market Nifedipine Extended-Release Tablets USP in strengths of 30 mg, 60 mg, nd 90 mg. This was announced by Cadila to the stock exchanges on December 21, 2017.
Cadila Healthcare is a fully-integrated, pharmaceutical company with strong presence in the formulations and CRAMS businesses globally. Its formulations business spans India, US, Europe and emerging markets (mainly Brazil and South Africa). The company derived 34% and 41% revenues from India and the US, respectively in FY17.

Pidilite Industries board to consider buyback of equity shares; stock up 4%
Pidilite Industries Ltd to consider the proposal to buyback the fully paid-up equity shares of the Company. In this regard, a meeting of the Board of Directors of the Company will be held on December 26, 2017. This reflects the confidence of the management in their company and hence we believe this bodes well for the stock performance.
Pickup in consumer demand and new product launches would drive growth in India consumer bazaar segment. The company is strongly focusing on double-digit volume growth in 2HFY18. We expect the company to register 16% earnings CAGR over FY17-20E.The stock is trading at 36.5x FY20E EPS. We have a positive outlook on the stock.

Cabinet approves Rs1,300cr to train 10 lakh textile workers
The Union Cabinet has approved a Rs1,300cr outlay for skilling and up-skilling an estimated 10 lakh people in the entire value chain of the sector, including spinning and weaving.
According to an official statement, the ‘Scheme for Capacity Building in Textile Sector’ will provide demand-driven, placement-oriented skilling programme to incentivise the efforts of the industry in creating jobs in the organised textile and related sectors.
“Ten lakh people are expected to be skilled and certified through the scheme, in various segments of textile sector, out of which one lakh will be in traditional sectors,” it said. The training courses will be compliant with National Skill Qualification Framework. The scheme will remain operational for three years ending in 2019-20.

M&M and Castrol India is down after going ex-bonus
Mahindra & Mahindra Ltd (M&M) is currently trading at Rs742.2, down by Rs28.7 or 3.72% from its previous closing of Rs770.9 on the BSE. The company had declared a 1-for-1 bonus on November 10.
M&M has touched a 52-week high of Rs785.58 on 20-Dec-2017 and a 52 week low of Rs571.03 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs1571.15 and Rs1414.25 respectively.
M&M is the biggest loser in Nifty 50 index.
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 a 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.
Castrol India Ltd is currently trading at Rs203.35, down by Rs6.2 or 2.96% from its previous closing of Rs209.55 on the BSE. The company had declared 1-for-1 bonus on December 16.
Castrol India opened at Rs207.9 and has touched a high and low of Rs207.9 and Rs201.2 respectively. The current market cap of the company is Rs20727.06cr. The stock has touched a 52-week high of Rs226.9 on 25-Apr-2017 and a 52-week low of Rs176.58 on 06-Oct-2017. Last one week high and low of the scrip stood at Rs425.9 and Rs403.1 respectively.

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