TOP CORPORATE NEWS
HDFC to raise Rs5,000 crore via
quasi-debt issue
HDFC to raise
Rs5,000 crore via quasi-debt issue, to offer NCDs, warrants to FIs
simultaneously – positive read thru for HDFC .HDFC is likely to raise roughly
Rs5,000 crore through a structured quasi-debt offer to domestic institutions
soon. The company is likely to simultaneously issue non-convertible debentures (
NCDs) and warrants to investors that could help it raise funds at a cheaper
cost and would be launched in the next couple of weeks. We have buy rating on
HDFC Ltd.
Emami consolidated Q1 net
profit Rs88 crore
Emami Ltd
announced the following Unaudited results for the quarter ended June 30, 2015. Standalone
:Net profit at Rs86.81 crore vs Rs65.76 crore (YoY) .Total Income at
Rs560.11 crore vs Rs464.38 crore (YoY) Consolidated : Net profit at
Rs87.75 crore vs Rs70.81 crore (YoY) .Total Income at Rs608.36 crore vs
Rs504.06 crore (YoY).
Alstom T&D India bags new
orders worth Rs231.7 crore
Alstom T&D India has bagged new orders worth Rs231.7 crore from Power
Grid Corporation to supply transformers and shunt reactors for 765/400kV
substation situated at Agra in Uttar Pradesh and spare units of 765kV
transformers and reactors as part of Eastern and Southern Region Strengthening
Schemes. – Positive for Alstom T&D (News came during market time).
Britannia focus on capacity
expansion to reduce cost
Britannia: new
launches and increase in distribution reach to drive revenue growth; focus on
capacity expansion to reduce distribution cost and improving operating
efficiencies .Britannia is planning to do a capex of Rs500crore to further
expand the capacity (from current levels of 8,00,000 tonne). The expansion of
capacity is aimed at reducing the distribution cost and increase the production
through in-house facility.
Welspun Corp will seek
shareholders approval to raise funds
Welspun Corp Ltd
will seek shareholders approval to raise up to Rs500 crore through securities.
Hexaware Tech consolidated Q2
net profit Rs99 crore
Hexaware Technologies
Ltd announced the following audited results for the quarter ended June 30,
2015. Standalone :Net profit at Rs86.78 crore vs Rs65.36 crore (YoY)
.Total Income at Rs321.52 crore vs Rs244.75 crore (YoY) Consolidated : Net
profit at Rs98.88 crore vs Rs76.57 crore (YoY) .Total Income at Rs774.46
crore vs Rs617.70 crore (YoY). The Board of Directors declared payment
of interim dividend @ Rs2 per share (100%) on equity shares of Rs2 each.
Bharti Airtel rises as Q1FY16
posts good India performance
Shares of Bharti
Airtel gained over 2% to Rs 421.80 on NSE as Q1FY16 posts good India
performance; data drives the growth .The consolidated topline grew at 2.8% on a
qoq basis, with strong growth from the India mobile business, that grew
on the back of strong growth in the data business. The data ARPU’s increased,
while the blended ARPU’s remained flat at Rs 198 on a yoy basis.
Capital First Q1FY16 operating
performance remains strong
The Capital first
reported strong set of numbers as net profits grew by 58% YoY led by a strong
growth in net interest income (up 39% YoY) and improvement in the cost to
income ratio (49.2% from 57.2% in Q1FY15). However, the sharp rise in
provisions (up 140% YoY, partly due to Rs 8.6 crore of additional provisioning
on mortgage book) to some extent impacted profitability.
Nestle spurts after Maggi found
safe by FSSAI lab
Shares of Nestle
India surged 7% to Rs6760 on the NSE after country’s favourite snack Maggi
noodles was found safe by govt-approved laboratory – positive read through for
the Nestle .The FSSAI-approved laboratory of Central Food Technological
Research Institutue (CFTRI) has found Maggi noodles to be in compliance with
the country's food safety standards.
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