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TOP Headlines Of The Day:- 9 Jan 2018

Apollo Tyres to set up new PV tyre facility in Andhra Pradesh for 5.5mn tyres per annum
Tata Motors stock gains after rising in JLR Dec retail sales
Government to divest 1.5% stake in NMDC via OFS
Siemens bags contract worth Rs579cr for Gujarat Metro Link
Sun Pharma raises stake in Ranbaxy Malaysia to 85.9%

Apollo Tyres to set up new PV tyre facility in Andhra Pradesh for 5.5mn tyres per annum
India’s leading tyre manufacturer, Apollo Tyres Limited (ATL) announced setting up of a new manufacturing facility in Andhra Pradesh (AP). The facility will have the capacity to manufacture 5.5mn passenger vehicle (PV) tyres per annum in the first phase and the first tyre from this facility will be rolled out after 2 years from the start of construction. The facility will require an investment of Rs1, 800cr in the first phase and funding will be a mix of debt and equity. The facility will employ 700 people. Eventually, the unit will also go on to manufacture truck and off-highway tyres.
The ATL management had guided for total capex of Rs4, 500cr over FY18-19 for setting up a new facility in AP and expanding existing facilities in Chennai and Hungary. This facility is expected to be ready by FY20. The company plans to deploy part of Rs1, 500cr that it recently raised through QIP.

Tata Motors stock gains after rise in JLR Dec retail sales
Shares of Tata Motors rose over 1% after retail sales of subsidiary Jaguar Land Rover in December rose 0.6% on year to 55,697 units.
Land Rover sales were up 4.1% on year at 40,618 units in December, led by the introduction of the Range Rover Velar and the ramp-up of Discovery.

Jaguar sales fell 7.8% on year to 15,079 vehicles in December, as strong sales of the long-wheelbase Jaguar XFL in China and the introduction of the E-PACE were more than offset by softer sales of XE and XJ.

Government to divest 1.5% stake in NMDC via OFS
The OFS will be open for non-retail Investors today, while on January 10, 2018, it will be available for both retail and non-retail investors who choose to carry forward their unallotted bids.
Also, 20% of the offer shares shall be reserved for allocation to retail investors and minimum of 25% of the offer shares shall be reserved for mutual funds and insurance companies. Retail Investors will also be eligible for a discount of 5% to the cut-off price.
The government owns 74.94% stake in India’s largest iron ore producer NMDC (as per September 2017 shareholding declared on BSE). NMDC mines 35mn tonnes of iron ore a year and is expanding its activities to a production of steel and other value-added products like pellets by setting up a 3mn tonne per annum (MTPA) integrated steel plant in Nagarnar in Bastar district of Chhattisgarh.

Siemens bags contract worth Rs579cr for Gujarat Metro Link
In a massive infrastructure boost to the state of Gujarat, the Indian mass-transit operator Metro Link Express for Gandhinagar and Ahmedabad (MEGA) Company Limited has awarded an order of approximately Rs580cr (Euro 76.04 million) to the consortium of Siemens Ltd. India and Siemens AG, Germany for electrification of the 39.2-kilometer Metro Express Link in Ahmedabad. The line, currently under construction, will run in Ahmedabad city in two corridors.
Siemens will be responsible for the complete electrification of the new double-track Metro line. In addition, Siemens will also provide a SCADA (supervisory control and data acquisition) system for monitoring and be controlling the traction power.

Sun Pharma raises stake in Ranbaxy Malaysia to 85.9%
Sun Pharma, through its filing on BSE, has informed that it has increased shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, through its wholly-owned subsidiary to 85.9% from 79.55%.

Ranbaxy Malaysia Sdn Bhd is a subsidiary of the company, and the total shareholding of Sun Pharmaceutical Industries Ltd, along with its wholly-owned subsidiary Sun Pharma (Netherlands) BV was 79.55%, prior to this purchase of shares. It is involved in the business of manufacturing and selling of pharmaceutical products in Malaysia and the Republic of Singapore.

Sun Pharma (Netherlands) BV, by way of further purchase of 508,313 shares of face value of MYR1.00 each of Ranbaxy Malaysia Sdn Bhd, has increased total stake to 85.9%. The total consideration for additional stake is ~MYR2.18mn.

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