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TOP CORPORATE NEWS – 20 APR 2017

top corporate news

Bharti Airtel partners with Amazon to launch Fire TV stick in India

Bharti Airtel announced a partnership with Amazon for Amazon’s Fire TV Stick with Voice Remote, which was launched in India recently.

Customers purchasing Amazon Fire TV will get free 100 GB high speed data via Airtel Broadband/Airtel 4G Home Wi-Fi.

Godrej Properties rises on plans to sell assets and raise Rs1500 crore

Godrej Properties has plans to sell some of its office assets to raise around Rs1500 crore, a significant portion of which would be used to pare debt as per media reports. Positive read thru for the stock.

Maruti to launch new Swift Dzire on 25th May, bookings open

Maruti Suzuki will launch the new 2017 Swift DZire in India on 25th May 2017 as per media sources. Dealers havestarted accepting booking for the upcoming sedan at a token amount of Rs5,000.

The changes made to the Swift DZire will be cosmetic and will come equipped with new features in the cabin. While the design is largely similar to the upcoming Swift hatchback, the boot space of DZire will be considerably larger.

The 2017 Maruti Suzuki DZire is likely to get the same engine options that power the current model, a 1.2 litre K Series petrol and a 1.3 litre DDiS diesel engine that is mated to a 5-speed manual transmission. The company might also offer an AMT (Automated Manual Transmission) as well.

ITC to launch new products in packaged-foods industry

ITC to launch new products in packaged-foods industry which will increase competition for Nestle and Britannia; ITC aims to be the leader in India’s packaged food industry in the next 2-3 years

ITC plans to introduce about 40 new food products in the next year and sell premium chocolates and coffee through retail chains and online stores. These 40 new differentiated products will not only be variants, but also new products.

Jay Bharat spurts on stellar Q4FY17 net profit

Shares of Jay Bharat Maruti surged 19% to Rs516.50 on NSE post Q4FY17 numbers where net profit came up by 71.9% to Rs20.8 Cr Vs Rs12.1 Cr (YoY).

Revenues were up by 41.3% at Rs550.2 Cr Vs Rs389.4 Cr (YoY)

EBITDA up 24.2% at Rs42.1 Cr Vs Rs33.9 Cr (YoY)

OPM came in at 7.7% Vs 8.7% (YoY).

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