GIVE MISS CALL ON :- +91 99774 99927

TOP CORPORATE NEWS- 5 NOV 2018

Corporate News

Jet Airways gets into another round of discussions with TATAs for stake sale

According to media reports on Nov 5, 2018, Jet Airways is in the second round of discussions with TATA Group for stake sale in the company. Earlier, almost a week back, Jet Airways promoter Mr Naresh Goyal had approached Reliance Industries’ Mukesh Ambani and TATA Group’s Ratan Tata for raising capital through stake sale (Read more). However, Mr Goyal did not get any response from Mr Ambani, while TATA Group had sought full control on the airline. If the deal goes through Jet Airways is expected to get merged with Vistara (TATA’s JV with Singapore Airlines Limited). In addition, TATA may buy Etihad’s stake in Jet Airways. Mr Goyal currently holds 51% stake in Jet Airways, while Abu Dhabi-based Etihad Airways holds 24% in the company.

Adani Transmission to acquire KEC Bikaner Sikar Transmission

The company inked an agreement with KEC International for purchasing entire stake in KEC Bikaner Sikar Transmission.
As per a Share Purchase Agreement (SPA), the acquisition will be valued at Rs227.5cr and is subject to regulatory and other approvals, the company said in a press note to exchanges on Saturday. “This acquisition is a part of the company’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. With this acquisition, the cumulative network of the company will reach around 12,923 ckt kms, out of which approximate 10,357 ckt kms are under operation and 2,566 ckt kms under various stages of construction”, the company added.

Lupin gets USFDA nod for Doxercalciferol injection

Pharma major Lupin announced that it has received approval for its Doxercalciferol Injection, 4 mcg/2 ml (2 mcg/ml) Multi-dose Vials from the USFDA to market a generic version of Sanofi Genzyme’s Hectorol Injection.
There are already 7 approved ANDAs in the product. Competitors include Akorn, Amneal, Hospira, Sandoz, etc.
Lupin’s Doxercalciferol Injection, 4 mcg/2 ml (2 mcg/ml) Multi-dose Vial is the generic version of Genzyme’s Hectorol Injection. It is indicated for the treatment of secondary hyperparathyroidism in patients with chronic kidney disease on dialysis, as per BSE filing.

Sun TV tanks 7% after Q2FY19 results

The shares of SUN TV were down by 7% after its Q2FY19 results were declared. Sales rose 10.9% yoy to ~Rs750cr in the quarter ended September 2018 as against Rs 675.90cr during the corresponding quarter previous year. The top-line was driven by strong subscription revenue growth.
EBITDA came in at Rs554cr, up 11.7% yoy and down 24.6% qoq. EBITDA margin expanded by 51bps yoy and 833bps qoq to 73.91%. Adjusted PAT grew by 23.4% yoy and down 14.1% qoq to Rs351cr. PAT came above estimate of Rs318cr. Company has said that Digitisation in Tamilnadu is on track and is likely to be completed by FY19E end.

Cipla declines ~5% as Q2 numbers miss estimates

Shares of Cipla down 7% on Monday after the company’s numbers for the second quarter of FY19 missed the consensus expectations.
Cipla’s revenue in Q2FY19 declined 1.7% yoy to Rs4,011.9cr vs. Rs4,082.4cr in Q2FY18. EBITDA in the quarter declined 12.7% yoy to Rs702.2cr in Q2FY19 vs. Rs804.4cr in Q2FY18.
EBITDA margins stood at 17.5%, down 220bps, in Q2FY19 vs. 19.7% in Q2FY18 and 18.4% in Q1FY19. PAT declined 10.8% yoy to Rs377cr in Q2FY19 vs. Rs422.6cr in Q2FY18. All numbers are below the consensus expectations. The consensus estimate of revenue growth was 8.4%, EBITDA margin was ~19%, while PAT was expected to be at Rs468cr.

Financial Advisory Company in IndoreStock Advisory Company in Indore , Equity Tips  , Free Trading Tips  , MCX Tips , sebi registered advisory company , Intraday stock tips , Free commodity tips 

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

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM