· Rajesh Exports marks record
high
Rajesh
Exports gained by 9%, to Rs593, on gold, earnings optimism.Gold gained for a
fifth session in a row on Wednesday to trade near a three-week high, benefiting
from weaker equities after China’s devaluation of the yuan. Optimism is also
seen ahead of its quarterly results on Thursday. The company had earlier bought
world’s largest gold refiner Valcambi for $400 million. India’s jewellery
exports are likely to quintuple to $40 billion if the controls are tightened.
· Apollo Tyres to raise Rs2,000
crore debt to fund capex
Apollo Tyres
revises its capital expenditure plans; seeks shareholder approval to raise
Rs2,000 crore debt to fund capex. Apollo Tyres announced a further capacity
expansion plan at its Chennai facility. As against the earlier plan to raise
the capacity for truck and bus radial (TBR) tyres by 8,900 tyre per day the
company now plans an expansion of 12,000 tyres per day which will entail an
expenditure of Rs1,200 crore.
The company is
seeking shareholder approval to raise Rs2,000 crore debt vide Term loans or
NCDs of up to 1,000 crore.
· Gayatri Projects synchronizes
2nd unit 660MW of JV
Gayatri Projects – Synchronization of second unit 660MW of JV Thermal
Powertech Corporation – Positive for Gayatri Projects.Thermal Powertech
Corporation (JV between Gayatri Energy Ventures and SembCorp Utilities) has
synchronized its second unit of 660MW with the grid. The commercial operations
of the second unit is expected during September 2015. The plant’s first unit of
660MW was synchronized in December 2014 and started commercial operations in
February 2015. The development is positive for Gayatri Projects showcasing its
ability in power generation projects apart from EPC execution.
· Cox & Kings plan to list
PGL and Meininger to unlock value
Cox & Kings
(CKL) plans to list its UK-based education travel subsidiary PGL and German
hotel arm Meininger Shared Services GmBH in the next few years to unlock
potential for shareholders. However the company will retain majority stake of
60-65% in both the companies. The management of CKL is confident of getting
valuation of 15x EV/EBIDTA for its education, which value it at Rs3930crore
(85% of the current market of CKL). This is positive read through for the
stock.
· Cadila receives USFDA
approval to market Amiloride Hydrochloride
Cadila has
received the final approval from the USFDA to market Amiloride Hydrochloride
Tablets UPS 5 mg. The drug falls in the diuretics segment. Positive for the
company
· L&T set to bag
Rs530-crore contract from Indian Army
L&T is set
to bag a Rs530-crore contract to manufacture new bridges for the Indian Army.
The report indicate that Army has moved a proposal to purchase over 100 new
short span bridges and the project is likely to be given a nod by the defence
ministry soon. The 'short span bridge' contract could be awarded to L&T on
a single vendor basis as per media report – positive read thru
· KEC International rises on
securing new orders of Rs838 crore
Shares of KEC
International rose 3% to Rs153 on the NSE in an otherwise weak market after the
company secured new orders of Rs838 crore in its Transmission &
Distribution and Cables businesses.
Transmission
& Distribution Business secured orders in India, Bhutan and the Americas
amounting to Rs778 crore, while, the cables business secured orders
of Rs60 crore for the supply of Power and Telecom Cables. – Positive read
thru.
·Claris surges on approval for
Furosemide injection in US
Shares of Claris
Life sciences rose 8% to Rs 238 on the BSE after the company announced that it
has received the Prior Approval Supplement (PAS) for Furosemide injection in
the United States of America (US).
The company
received the original approval for this Abbreviated New Drug Application (ANDA)
in January 2014 and was selling the products in the USA in 2014. But, since
January 2015, the company has been facing supply issues from its raw material
supplier and has not been able to supply its products to the USA.
·Shoppers Stop wins Quality
Excellence Award
Shoppers Stop
has won 'QUALITY EXCELLENCE AWARD - Supply Chain Sustainability' for the
company's supply chain team at the World Quality Congress. Last week, the
company has entered into an exclusive strategic partnership with e-commerce
firm Snapdeal to expedite its omni channel strategy.
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