TOP CORPORATE NEWS - 11 SEP 2015

·         Tata Motors expects to earn Rs600 crore in JNNURM phase II

Tata Motors expects to do a business of Rs600 crore in JNNURM phase II. The company has orders for 5,000 buses and has already supplied 2,500 out of the same. Positive for the company.

                                                                                                                                                                                                                                                        

·         L&T gets shareholders' nod for raising Rs9,600 crore

L&T gets shareholders' nod for raising about Rs9,600 crore through issuance of various securities, including equity shares and convertible bonds. We believe a large part of the funds would be utilized for working capital requirement considering large order book in hand.

                                                                                

·         BPCL to spend Rs1 lakh crore in next 5 years

In the upstream segment, it will invest up to Rs20,000-25,000 crore. The refining segment will see investments of Rs35,000-40,000 crore to reach a refining capacity of 1 million barrels per day in the next four to five years. The balance will go in investments in marketing and city gas distribution. It also have plans to go abroad and not just for marketing lubricants, particularly neighboring countries like Nepal, Bangladesh and some African nations.

·         Raymond buys Robot Systems for Rs28 cr

Raymond announced that its wholly owned subsidiary, Silver Spark Apparel has completed the acquisition of Robot Systems (wholly owned subsidiary of Gokaldas Exports) on September 10, 2015.

As per the share purchase agreement(s), the total consideration for the above acquisition is Rs28 crore.

·         RComm-Sistema deal may cost $600 million extra

Reliance Communications- Sistema deal may cost $600 million extra, potential road block for merger.The spectrum trading rules could put a spanner in the ongoing, exclusive merger talks between Reliance Communications (RCom) and Russia's Sistema JSFC as the deal cost may swell by an extra $600 million (roughly Rs3,980 crore).

                                                                                                                                                                                                                                                    

·         Raymond buys Robot Systems for Rs28 cr

Raymond announced that its wholly owned subsidiary, Silver Spark Apparel has completed the acquisition of Robot Systems (wholly owned subsidiary of Gokaldas Exports) on September 10, 2015.

As per the share purchase agreement(s), the total consideration for the above acquisition is Rs28 crore.

                                                    

·          Maruti Suzuki launches limited version of WagonR

 Maruti Suzuki has launched a limited edition version ‘ WagonR Advance’ hatchback. The new version has been launched for the festive season and would be available only for three months.

The new WagorR Advance has been priced at Rs4.3 lakh (ex-showroom Delhi) for the petrol variant and Rs4.84 lakh for the CNG variant. The Advance will have features like double-din stereo, dual tone dashboard, premium seats and power windows.

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