GIVE MISS CALL ON :- +91 99774 99927



Fortis Healthcare expects US$790mn in promoter stake sale

The promoters have been in talks with private equity firms for the past year to sell their 34% stake in Fortis Healthcare. The funds would be used to partly finance its recent acquisition of Singapore-listed RHT Health Trust.

In the past, there have been several failed attempts by the promoters to sell their Fortis Healthcare stake. For instance, it was reported in media that private equity firm-TPG Capital LP and Kuala Lumpur-based hospital operator IHH Healthcare Bhd. planning to buy a stake in Fortis Healthcare. However, Daiichi Sankyo’s had filed a petition, which restricted the Fortis promoters to sell any shares in their flagship hospital chain. The promoters currently have 34.4% stake in Fortis Healthcare.

Idea up 10% after announcing capital raising plan of Rs6,750cr

Idea Cellular is up by 10% after announcing a capital raising plan of Rs 6,750cr through a preferential share allotment as well as a QIP. First, the company is issuing up to 32.66cr equity shares (face value of Rs10) at a price of Rs99.5 per share on a preferential basis to its promoters group. This issue will increase shareholding of the Promoter group in Idea to about 47.2% from existing level of around 42.4%. Second, the company approved issue of Equity Shares by way of Qualified Institutions Placement (QIP) up to Rs3,500cr over the next 12 months.

Bharat Forge touches 52 week high on robust North America truck sales

On a month-on-month basis, Class 8 truck sales grew by 15%. Bharat Forge exports components to North America used in the manufacturing of Class 8 trucks. The US business contributed 23% to Bharat Forge’s FY17 total revenue.

Bharat Forge focuses on manufacturing of high-end engineered forgings products. In FY17, commercial vehicle segment contributed ~48%, non-auto segment 40% and passenger vehicles 16% to its revenues.

Exide Industries launches Epiq range of batteries with 6-year warranty, highest in India so far

Exide Industries Limited (Exide), the largest lead acid battery maker in India and South Asia, launched a new range of automotive batteries in India, Epiq. The battery comes with a 6-year warranty, the highest offered in the Indian market till date.

Epiq battery is armed with the latest technology from Exide and is specially designed for Indian conditions such as potholed roads and bumper to bumper traffic jams. The battery will be manufactured in Exide’s factories across India and sold through its 1,500 premium “Exide Care” outlets.

Epiq is targeted at the highest end of the automotive battery after market and is meant to be used in Indian cars and SUVs. This will be the most premium vehicular battery from Exide. Besides Epiq, Exide also launched two other battery variants – Exide Gold, with 18-month warranty, intended for four wheelers and Exide Cabby for commercial and metered taxis. Both these batteries will be affordably priced.

Government takes a step ahead to recapitalize PSU banks with Rs800bn

The government takes a step ahead towards cleaning up a banking system riddled with bad loans by seeking the parliamentary approval to issue about 800 billion rupees ($12.6 billion) of bonds to fund capital injections into the banks. The government has indicated that, the better performing PSU banks would be given higher amount of funds, as a consequence, we believe State Bank of India, Canara Bank, BoB and Indian Bank are expected to be the key beneficiaries of this re-capitalization program, as there performance is better than the other PSU banks. The PSU bank index is expected to continue its upward momentum today as well.

Prime Minister Narendra Modi’s administration expects to sell the first of its recapitalization bonds before FY18 end, as part of plans announced in 2017 to repair the balance sheets of state controlled banks, according to the proposal put to lawmakers in New Delhi on Thursday. The new bonds will carry annual interest of more than 60 billion rupees.

MCX TipsStock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore , Free Trading tips , Intraday stock tips  , Capitalstars Video Gallery

CapitalStars Provides Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM