TOP CORPORATE NEWS - 08 SEP 2015

·         Britannia keen to set up agro-processing unit in Andhra Pradesh

Britannia keen to set up agro-processing unit in Andhra Pradesh to tap southern market – long term positive for the stock .Britannia has shown interest to set up an agro-processing facility in Chittoor district of Andhra Pradesh. The capex for the facility is expected to be Rs125 crore, which is likely to take off by 2016 end. The idea behind setting up the plant in Andhra Pradesh is to better serve the southern markets such as Chennai and Bengaluru.

                                                                                                                                                                                                                                                        

·         Tara Jewels secures order worth $8 million

Tara Jewels secured new order of $ 8 million (Rs53.44 crore) for delivery by October 15, 2015 to Walmart USA, for supply of diamond studded jewellery.

                                                                                

·         Wipro hires TCS’s Dave Chopra as VP

Wipro hires TCS’s global head of strategy for infrastructure services Dave Chopra as VP of global infrastructure business. Months after it poached Tata Consultancy Services veteran Abid Ali Neemuchwala as its operations chief, Wipro has roped in yet another top executive from TCS, Dave Chopra as Vice President of its key global infrastructure business.

·         Jaiprakash Power plans to sell Bina Thermal Power Plant

Jaiprakash Power Ventures announced that Jaiprakash Power Ventures (JPVL) has concluded the Sale of Securities of Himachal Baspa Power Company (HBPCL) to JSW Energy at an Enterprise Value (EV) of Rs9,700 crore reduced by mutually agreed adjustments, including inter-alia Rs300 crore which is payable upon receipt of certain additional consents and approvals related to the Karcham Wangtoo HEP.

·         Tata Power pledges substantial investment in Karnataka

Tata Power Company Ltd has informed BSE regarding 'Tata Power’s Strategic Engineering Division Pledges Substantial Investment in Vemagal, Karnataka for Defence & Security Systems'.

                                                                                                                                                                                                                                                    

·         Havells India looks for domestic acquisition opportunities

Havells India is looking for domestic acquisition opportunities to add new products or expand market share. The company has a comfortable balance sheet with around Rs780 crore of cash – Positive read thru

                                                    

·         Eros’ ‘Welcome Back’ collects Rs50 crore in opening weekend

Eros International: ‘ Welcome Back’ collects Rs50 crore in opening weekend, positive for Eros International, as well as for PVR and Inox Leisure .Latest movie ‘ Welcome Back’, has collected a whopping Rs50 crore in its opening weekend. In international markets too,  collects $3.21 million (Rs21.38 crore) in its opening weekend.

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