hold 35.18 percent and 46.49 percent, respectively.- It is expected that the business restructuring on ahead of stake sale to repay high cost debt.
NHPC Limited said 520 MW power station in Himachal Pradesh would be under complete shutdown from three months with effect from Dec. 20 for repair and maintenance work.- Negative
Power Finance Corporation’s board approved proposal to buy Government of India’s entire shareholding in REC - Positive for both REC and PFC for long term prospects – it may restructure its business.
Entertainment Network (India) said due to a fire breakout at Common Transmission Infrastructure at Mumbai, terrestrial broadcasting has been disrupted at the company’s Mumbai radio station and other private broadcasters in Mumbai.- Negative
Coal India said it would pay interim dividend of Rs 7.25 per share aggregating to Rs 4500 crore to its shareholders with an implied dividend yield of 3 percent. The company has fixed Dec. 31 as the record date.- Strong balance sheet and attractive dividend - BUY
Indian Hume Pipe received Letter of Acceptance for constructions of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh for the state’s Water Supply Corporation. The project will be completed within 24 months.- Positive
Indiabulls Real Estate entered into an agreement with real estate private-equity Blackstone to divest up to 50 percent stake in two office assets in Gurugram at aggregate value of Rs 464 crore – It is a positive development of India Bull Real, we haved a buy rating on Oberoi Realty.
JSW Steel said it would infuse Rs 63.5 crores in Vardhaman Industries to pay the creditors as per the Resolution Plan by NCLT. The entire shareholding of Vardhaman Industries will be reduced by way of capital reduction and it will be delisted – Positive for JSW Steel.
Artemis Global Lifesciences received NCLT direction to conduct meetings with shareholder and creditors on Jan. 27 for amalgamation of the company and its three arms.
CARE Ratings received the SEBI notice for conduct of adjudication proceedings in relation to credit ratings assigned to Infrastructure Leasing & Financial Services Ltd. and one of its subsidiaries.- Negative for CARE
Escorts Group increased its stake in Optunia Power Infrastructure from 49 percent to 99 percent, by acquiring 2.94 crore shares at face value o f Rs 10 per share.- We are positive on Escort
Mercator sold vessel for $7.6 million and said that proceeds of this sale would be used to reduce debt and liabilities.- Positive
Time Technoplast received power cable-ducts orders worth Rs 150 crore from various EPC Contractors.- Positive
Tata Consultancy Services implemented payments operations solutions for Japan based-MUFG Bank.- Positive for TCS
HCL Technologies partnered with Israel based Cloudify to bring 5G network solutions to telecom providers.- Positive
Dhanuka Agritech’s board determined buy-back of 13.12 percent of equity share capital at a price of Rs 550 per share aggregating to Rs 82.5 crore.
Borosil Glass Works’ board approved winding up of Dubai arm ‘Borosil Afrasia FZE’.- Positive after merger
Bulk Deals - CARE Ratings - Pabrai Investment Fund sold 8.36 lakh shares (2.84 percent) at Rs 985.75 each., Satin Creditcare Network = Massachusetts Institute of Technology acquired 8.47 lakh shares (1.73 percent) at Rs 228.25 each, MV Mauritius sold 8.50 lakh (1.74 percent) at Rs 228.25 each
Axis Bnk to announce Q3 results on Jan 29 - We are positive on Axis Bank
HT Media to acquire 25% stake in Next mediaworks for Rs451.5mn, company to make open offer 26% additional stake of Next mediaworks - Next mediaworks market cap Rs1.48bn while valuation of Rs1.8bn. Next mediaworks EV worth Rs2.48bn - Positive
Infosys names Nilanjan Roy as CFO - Positive development
Bosch to close Bidadi plant in Karnataka December 28-29, company to reduce volumes at Badadi due to lower client demand - It will be long term positive as cost reduced.
Infibeam and IBM India collaboration on blockchain application - positive for Infibeam
Capital First share trading to
By: via @AlliesFin Serve T.ME/ALLiESFiN
