Corporate News 07- Aug-2015

• Bharti Airtel commercially launches 4G in 296 towns

Bharti Airtel has commercially launched 4G services in 296 towns across India it has also formed alliances with Flipkart and Samsung to support its 4G services – Positve.

• BHEL commissions 500 MW Thermal Unit at Vindhyachal STPS

Bharat Heavy Electricals Ltd (BHEL) has added one more coal-based power plant to the grid by successfully commissioning the 500 MW Unit-l3 of Vindhyachal Super

Thermal Power Station ( STPS), Stage-V of NTPC. The project is located irt  Vindhyanagar in Singrauli district of Madhya Pradesh.

                                                                                   

• Uflex to invest Rs550 crore in new plant at Sanand

Uflex to invest Rs550 crore in new plant at Sanand – positive read thru.The company is in the process of setting up a plant for packaging material for liquid products with a capital expenditure of Rs550 crore in the first phase. The project is proposed to be commissioned and operational by April 2017. The factory will produce approximately seven billion packs per year for liquid products such as energy drinks, milk and juices. About 90% of the output from this factory will cater to the domestic market.

• Maruti Suzuki aims to sell up to 5,000 units of S-Cross monthly

The Maruti Suzuki management has stated that they look to sell 4,000 – 5,000 units of the S-Cross on a monthly basis. View: The sales target as mentioned by the company looks ambitious. While the S-Cross is expected to do well n the initial months,  we expect the vehicle to settle at a lower run-rate after the demand settles down.

• Coal India will invest Rs13,900 crore for production

Coal India will invest Rs 13,900 crore to take its production to 908 million tonnes (MT) by 2020 – Positive for Coal India.

• Aviva plans to increase stake in Indian business to 49%

British insurer Aviva plans to raise its stake in its Indian joint venture with Dabur Invest Corp to 49 per cent, following Indian rule changes on foreign direct investment ( FDI). Aviva will raise its stake to the maximum level allowed for foreign companies up to 49%. Aviva is the fourth foreign insurer to have decided to raise stake in its local venture since amendments to the Insurance Act. Earlier, French insurer Axa, Japan's Tokio Marine and London-based Bupa had announced similar plans.

                                                                                                                                 

• M&M positive surprise on margins; PAT beats est

Mahindra & Mahindra (M&M) Q1FY16 results: Positive surprise on margins due to sharp jump in profitability of tractor business; PAT beat estimates .M&M volumes continued to remain with the auto and tractor segment volumes declining by 2.7% and 16.4% respectively in Q1FY2016. Revenues for the quarter were lower by 3.9% YoY to Rs9,437 crore which was in-line with estimates.

• NTPC commissions 500MW Unit-1 of Vindhyachal STPS

NTPC announced that Unit - 1 of 500 MW of Vindhyachal Super Thermal Power Station, Stage has been commissioned on 06 August 2015. With this, the total installed capacity of Vindhyachal Super Thermal Power Station has become 4760 MW and the total installed capacity of NTPC group has become 45548 MW.

                                                   

• BHEL Q1 shocks; profit tanks 83%, EBITDA loss Rs 209 cr

Bharat Heavy Electricals (BHEL) disappointed street on Friday with first quarter profit falling 82.5 percent to Rs 33.9 crore compared to Rs 193.5 crore in the year-ago period, impacted by lower revenue and loss at operating level. The stock price lost more than 10 percent intraday.
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