Welcome to StockBox Daily News Update podcast for 17th May 2018. Important corporate announcements published on 17th May 2018.
1. Order Book - Larsen & Toubro Limited - Heavy Civil Infrastructure business of L&T Construction has bagged orders worth Rupeees 1,504 crore. The business has won a marine infrastructure project by securing an order from Cochin Shipyard Ltd. for part design & construction of a Dry Dock along with associated works.
2. Acquisition - PCL (International) Holding B.V., Netherlands, a Wholly Owned Subsidiary of Precision Camshafts Limited has acquired 51% Equity Shareholding in EMOSS Mobile Systems B.V., Netherlands
3. Debt Restructuring - Bhushan Steel Limited - As per NCLT order, board have decided to - Issue 7,24,96,036 equity shares of rupees 2/- each on a preferential I private placement basis to existing lenders of the Company, as per Annexure 1 pursuant to conversion of loan equivalent to Rupees 144,992,072. & Issue 79,44,28,986 equity shares of Rupees 2/- each on a preferential private placement basis to Bamnipal Steel Limited for an aggregate consideration of Rupees 158,88,57,972.
4. Fund Raising - NCC Limited to consider the proposal of issue of Equity shares or warrants to the Promoter Group on preferential basis on 24th May 2018.
5. Bottom Fishing – Plungers - Interesting stocks that plunged today - SRF Limited - down due to Q4 and Financial year March 2018 results - net income down due to margin fall. Voltas Limited - down due to Q4 March 2018 results.
6. Bottom Fishing – 52 Week Low - Ten “A” category stocks have hit their 52 week low price today that includes 2 SENSEX index stocks - ACC Limited & Bharti Airtel Limited.
7. Guruinvestars - Kwality Limited – institutional investor Letko Brosseau Emerging Markets Equity Fund bought 500000 shares (0.21%) of the company on 17th may 2018 in open market. After this transaction, fund owns 5.18% of the company.
8. Business Update - Bharti Airtel Limited - Airtel and Amazon India join hands to introduce a range of affordable 4G smartphones at an effective price starting at only rupees 3399.
9. Divestiture - Biocon Limited, Promoter of Syngene International Limited, on May 16, 2018 has sold 37,65,574 Equity Shares (1.88 %) of Syngene International Limited through open market sale.
10. Guruinvestars - Jyothy Laboratories Limited - ICICI Prudential Life Insurance Company Limited acquired 129226 shares (0.0711%) on 17th May 2018 in open market at an average price of rupees 284.31 per share. After this transaction, fund owns 5.0284% of the company.
11. Acquisition - Himatsingka America Inc., the wholly owned step down subsidiary of Himatsingka Seide Limited, has acquired the home portfolio of Global Brands Group Holding Limited. The acquired home portfolio includes the exclusive license rights to the famous and iconic Tommy Hilfiger brand, the Copper Fit brand and other brands. This brand portfolio is estimated to contribute Annual Revenues of approximately USD 60 - 65 million to the Group.
12. Business Update - Reliance Communications Limited confirmed that RCOM and Ericsson are at an advanced stage of discussions to expeditiously to resolve commercial issues. This will enable Reliance Communications to exit the NCLT process. RCom is confident to expeditiously proceed with its monetisation plan with Reliance Jio & overall Resolution Plan with the lenders, keeping in mind the interests of all stakeholder
13. Guruinvestars - MAGMA FINCORP Limited – institutional investor Amansa Holdings Private Limited acquired 1.21% in open market on 10th May 2018. After this transaction, the fund owns 6.01% of the company.
14. Business Update - US FDA has conducted an inspection at Alembic Pharmaceuticals API Facility located at Karkhadi from 14th May, 2018 to 18th May, 2018. This was a scheduled inspection and at the end of the inspection, the US FDA issued a Form 483 with one observation. The Company is preparing the response to the observation, which will be submitted to the US FDA shortly.
15. Guruinvestars - CHAMBAL FERTILISERS & CHEMICALS Limited – mutual fund investor HDFC Asset Management Company Limited bought 300000 shares (0.07%) on 17th may 2018 from open market. After this transaction, fund owns 5.04% of the company.
16. Business Update - INDOCO REMEDIES Limited informed that US-FDA did their inspection of API manufacturing facilities at Patalganga & Rabale, Navi Mumbai. It cleared the inspection with 3 observations.
17. Acquisition – JSW Steel Limited enters into agreement to acquire steel facilities at Piombino, Italy for a cash consideration of Euro 55 million.
18. Guruinvestars - Jindal Stainless (Hisar) Limited – Institutional investor Hypnos Fund Ltd bought 680000 shares (0.288215%) in open market on 18th April 2018. After this transaction, fund owns 5.0322% of this company.
19. Special Dividend – Tata Chemicals Limited recommends a special dividend of Rupees 11 per share to reflect one time income on account of sale of the Fertilizer Business.
20. Fund Raising - Union Bank Of India plans to raise Rupees 7400 crores as capital through bonds and Rupees 6850 crores through equity shares public issues.
21. Investment - Union Bank Of India - Dai-Ichi Life Holdings Inc., Japan has invested in Union Asset Management Company Private Limited through Compulsorily Convertible Preference Shares (CCPS) on 17.5.2018 after obtaining requisite regulatory approvals. Through this investment, Dai-ichi Life Holdings Inc. holds 39.62% share capital in Union AMC and consequently, Union AMC is now co-sponsored by Union Bank of India and Dai-ichi Life Holding Inc., Japan. As per Investment & CCPS Subscription agreements, Dai-Ichi Life Holdings Inc. will have an option to convert the CCPS into equity after certain fixed period.
22. Acquisition – Tata Steel Limited acquired Bhushan Steel Limited for Rupees 35200 crores by purchasing 72.65% of the company. This acquisition will increase Tata Steel’s revenue by more than rupees 15000 crores.
23. Buyback - INDIABULLS REAL ESTATE Limited has approved the Buy-back of up to 2.6 crore equity shares being 5.45% of existing share capital, at prevailing market price subject to a price not exceeding Rupees 240 per share, aggregating up to Rupees 624 crore
24. Credit Rating - Reliance Infrastructure Limited - India Ratings & Research has revised rating on the Company's Regulatory Asset Debt to IND A (SO) / RWN, the Company's Long-Term Debt (Bank Facilities and Non-Convertible Debentures) to IND BBB+ / RWN and the Company's Short Term Debt and Commercial Papers to IND A2+ / RWN. Company disagrees with the above revision in ratings.
25. Business Update – NHPC Limited has declared commercial operation of Unit No.# 1 of Kishanganga HE Project, Jammu & Kashmir with effect from 00:00 hours of 18th May 2018.
26. Open Offer - Tourism Finance Corporation of India Limited – Redkite Capital Private Limited made an open offer to public shareholders to purchase 20986355 shares at a price of rupees 157.20 per share against a current market price of rupees 153.25 per share.
27. Capital Expansion - OCL INDIA Limited has decided to set up a new cement plant in Odisha along with waste heat recovery system & split cement manufacturing units in eastern part of India with cement manufacturing capacity of 8 Mn TPA with a total investment of Rupees 3,720 Crore.
Thank you for listening to our daily news update podcast. For hourly updates, please follow our twitter handle stockbox17.
