Equity Research Report Ways2Capital 10 july 2017


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SOUTH INDIAN BANK The shareholders of South Indian Bank approved raising Rs 500 crore debt on private placement basis.


SOUTH INDIAN BANKThe shareholders of South Indian Bank approved raising Rs 500 crore debt on private placement basis.

 

WIPRO CONSUMER CARE AND LIGHTINGWipro Consumer Care and Lighting announced that it has shut down Mysuru’s lighting manufacturing unit because of the sharp downfall in the demand for CFL products as well as the increase in the consumer preference for the LED products. 

 

ITC LTDITC Ltd is looking to enter healthcare segment and set up multi-speciality hospitals.

 

CESC LTD - CESC Ltd is awarded the electricity distribution franchise for Bikaner in Rajasthan through competitive bidding.

 

TATA CHEMICALS LTD - TCL is setting up two facilities in Andhra Pradesh and Gujarat to manufacture soluble dietary fibres and silica with an investment of Rs5.65bn.

 

MAHINDRA & MAHINDRA - Mahindra & Mahindra plans to invest Rs15bn in its Nashik and Igatpuri facility in the state of Maharashtra to prepare for the introduction of new project "U321". 
 

DR REDDY'S LABORATORIES LTD Dr Reddy's Laboratories Ltd has announced the expansion of its commercial operations in Europe with the introduction of its portfolio of generics in France.

 

AUROBINDO PHARMAAurobindo Pharma was looking to set up a manufacturing facility for injectable products in the United States, days after President Donald Trump called on pharmaceutical companies to make more drugs locally.

 

IDBI BANKIdbi bank reported that its gross non-performing assets (NPAs) of Rs 24,875 crore in FY16 were lower than the Reserve Bank's estimate of Rs 31,691 crore.

 

RELIANCE INDUSTRIES LTDReliance Industries Ltd The government gave green signal to Reliance Industries Ltd for expansion of its petrochemical complex in Gujarat, entailing an investment of Rs 2,100 crore. Near Hazira in Surat district

 

INDUSIND BANK IndusInd Bank has reported an increase of 26.5 per cent in net profit at Rs 836.55 crore in the first quarter of the current fiscal. The bank’s net profit in the corresponding April-June quarter of 2016-17 stood at Rs 661.38 crore. Total income of the lender rose by 21.5 per cent to Rs 5,302.77 crore as against Rs 4,363.57 crore in the year-ago period, 

 

MINDTREE Mindtree has built up an impressive digital practice over the past few years. Digital business is scaling up nicely with wins of large integrated digital transformational programs

 

TATA GLOBAL BEVERAGES Tata Global Beverages has decided to sell its stake in various Tata Group listed companies to its parent, Tata Sons..

 

 

BAJAJ ELECTRICALS Bajaj Electricals acquires 28% stake in Starlite Lightning

 

GATI,AND TVS - Gati,and TVS Logistics have shown interest to acquire Vulcan Express, the logistics arm of Snapdeal.

 

AXIS BANK Axis Bank has emerged as the frontrunner to acquire FreeCharge. The digital payment platform owned by Snapdeal, reported a national business daily.

 

 

? TOP ECONOMY NEWS

The Uttar Pradesh state government has granted Rs 300 crore for Pandit Deendayal Upadhyaya Urban Development Scheme.

 

The government raised the import duty on sugar to 50% from 40% to discourage dumping of cheaper supplies from abroad and as local prices stabilise after a spike earlier this marketing year.

 

The cumulative market valuation of all the listed companies on BSE hit its record high of Rs 130 lakh crore, pulled up by the strong gains in the broader markets.

 

In order to guard the domestic steel industry against cheap imports coming from China, the government is likely to impose countervailing duty of 18.95% on imports of some particular type of steel products.

 

Foreign investors during the period between January-June 2017 (H12017) have pumped in USD 23 billion into the Indian capital markets. The inflow was due to several factors, including expectations of an accelerated pace of reforms.

Whereas in the first half of 2016, FPIs had pumped in around USD 1.2 billion or Rs 7,600 crore.

 

The provisional figures for Direct Tax collections up to June 2017 showed that net collections stood at Rs 1.42 lakh crore, which was 14.8% higher than the net collections for the corresponding period in 2016

 

Foreign exchange reserve of India soared to USD 4 billion to reach a record high of USD 386.5 billion for the week ended on June 30, RBI said in a release.

 

 

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