·JSW Energy considering to
refinance Rs6000 crore of debt
JSW Energy
considering to refinance Rs6000 crore of debt under 5/25 refinance scheme-
positive read thru .JSW Energy is in talks with banks to refinance debt worth
Rs.6,000 crore under the so-called 5/25 refinance scheme for long-gestation
infrastructure projects, according to media reports. JSW Energy will refinance
the debt component of the Rs9,700 crore transaction to buy two hydropower
assets from Jaiprakash Power Ventures Ltd. Under the 5/25 scheme, banks can
extend loan repayment periods up to 25 years, with an option of refinancing the
loan every five years.
· Acrysil eyes
Rs1,000-crore sales in 7 years
Acrysil eyes
Rs1,000-crore sales in 7 years, to enter new geographies – positive read
through for the stock. Acrysil is targeting over seven-fold increase in total
turnover at Rs1,000 crore in 7 years as it enters new product categories.
Commercial kitchen equipment business used by restaurants is an untapped
category dominated mostly by unorganised players with Chinese imports.
· IOC to invest Rs16000 crore
to produce synthetic ethanol
IOC
to invest Rs16000 crore to produce synthetic ethanol – Positive read thru
.Indian Oil Corp. Ltd (IOCL), the nation’s biggest refiner, plans to spend
Rs6,000 crore ($2.4 billion) to build a plant for producing synthetic ethanol
as it seeks to secure supplies of the bio fuel to meet mandatory blending
norms. The company will seek investment approval from its board next year, after
which the facility, to be located at Paradip in eastern India, will take about
four years to complete.
· GCPL rises after RBI allows
increase in foreign investment limit
Godrej Consumer
Products Ltd ( GCPL) after the Reserve Bank of India ( RBI) on Friday, August
28, 2015, notified increase in foreign investment ceiling to 40% of the
company's paid-up capital from earlier 35%.
The Reserve Bank
of India ( RBI) on Friday, August 28, 2015, notified that Foreign Institutional
Investors ( FIIs)/Registered Foreign Portfolios Investors ( RFPIs) can now
invest up to 40% (revised from earlier 35%) of the paid-up capital of Godrej
Consumer Products ( GCPL) under the Portfolio Investment Scheme ( PIS).
·Crude oil records highest
single day gain since 2008
Crude oil prices
bounced back after consistently weakening from the level of $64/bbl since early
June. The price is steady near $47/bbl after falling to low of $43/bbl.The
higher crude oil prices are expected improve the net realisations of production
companies as there is no subsidiary burden to share. The companies which are
expected to benefit are ONGC, Oil India, Cairn India.
· HDFC Bank wins Best Asian
Bank 2015 award
HDFC Bank is the
newly crowned winner of this year’s Best Asian Bank award, a standout among the
15 winners of 2015 Finance Asia’s Country Awards programme for generating high
growth and steady profitability as well as maintaining a low nonperforming
loans ratio and high asset quality.HDFC Bank’s is among the best performing
banks and is well recognized outside India too. We have buy rating on HDFC Bank
with price target of Rs1260.
·Tube Invest signs license
agreement with Ridley Bikes
Tube Investments
of India announced that the Company have signed a License Agreement with Ridley
Bikes Belgium on August 27, 2015 to acquire the Brand rights/Licence for the
brand 'Ridley' for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for
a period of 33 years.
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