Update 2
United Phosphorus surges 6.8% on acquisition news
The shares of United Phosphorus are trading 6.80% at Rs 313.25, compared to the previous close of Rs 293.30 on Wednesday. A total of 269511 shares have been traded on the bourses so far. The stock moved up after it announced that it has acquired Stam herbicide from Dow AgroSciences LLC. (11.34 am)
United Phosphorus has acquired the global propanil herbicide business, marketed primarily as Stam herbicide, from Dow AgroSciences LLC, for USD 25 million including inventories.
To Read MoreClick Here
TV 18 inks distribution deal with ABC
News broadcast player, Television Eighteen India has inked a distribution deal with the Australian Broadcasting Corporation (ABC) to bring its infotainment channel `Australia Network` to 68 million cable homes across the country, reports Business Standard.
The Australian public broadcaster will share content with TV18 Group as well as assist it in taking its channels to Australia.The TV18 Group, which already has CNBC TV 18,CNN-IBN, Awaaz and IBN 7 as a part of its bouquet, will be leveraging its distribution strengths to launch the foreign channel - a strategy that the group is willing to adopt at large.
The agreement is for a period of three years. The USD 780 million ABC network will be investing atleast USD 2 million initially in its efforts to break into the extremely `competitive Indian media market`.The free-to-air channel is looking to bring on board domestic advertising eventually. `India is a big market where we want to be present. As for advertising, most of our advertisers are global players and would want to be beamed in India,` said Ian Carroll, chief executive, Australian Broadcasting Corporation.
Tantia Construction spurts up 5.08%
Tantia Constructions spurted up 5.08% on BSE (11:15 am) on the news that it bagged a construction order from Road Constructions Department, Government of Bihar.
Currently, the shares are trading at Rs 170.80 as compared with the previous close of Rs 162.55 (Wednesday). As many as 10,71,001 shares have been transacted as of now.
The company has received a prestigious construction project of approx. Rs 1577.5 million for the repair and improvement of Patna roads under the `Patna Town Road Project` scheme.
On Monday, the state road construction minister of Bihar, Nand Kishore Yadav said that the government has given the go-ahead signal to Rs. 1.45 billion plan for the development of nearly 100 kilometers of road in Patna district.
For the last six months, the plan was stuck due to one obstacle or another. The tender for the contract was filed by Tantia Construction and filmmaker Prakash Jha`s construction company. However, failing Jha`s compliance with all the formalities within the specified time, the contract was given to Tantia Construction, the minister said.
The stock has shown a rise of 12.89% over the week and 22.13% over the month.
HSBC to to re-align business, concentrate more on retail segment
HSBC India has plans to re-align its business mix in line with emerging trends and venture into other areas with high growth potential in the coming years, reports Business Line.
While corporate and investment banking accounts for an overwhelming part of its overall business, the bank intends to focus more on the other segments in order to achieve a better mix.
Ms Naina Lal Kidwai, Group GM and Country Head, said that the bank is looking at a situation where corporate banking accounts for just about 50%, with the rest coming from other areas.
The company`s modus operandi would be to concentrate on businesses that have significant growth potential and are likely to assume bigger proportions in the days ahead.
The bank currently has 47 branches in 26 cities, and has plans to increase the count.
HSBC accounts for over 50% of the foreign equity investments held in custody.Within the entire HSBC Group, the Indian operations at the end of last year were the 16th largest contributor to profits, while in the first half of the current year, it was the 10th largest.
About USD 300 million is expected to be contributed to group income by end of this fiscal.The bank`s newly launched service, Pragati Finance, is expected to pay handsomely.
On the credit cards front, HSBC has about 1.8 million cards in force and the bank`s asset management business has witnessed a significant growth in recent years.
Ashok Leyland building on capex plans
Ashok Leyland has moved up on the bourses after it announced its plans of investing Rs 52.50 billion to enhance its production capacity by 1,40,000 units over a period of next four to five years.
The company`s shares are trading marginally up by 1.38% to Rs 44.05 as against its previous close of Rs 43.45 (Wednesday) on the bourses. A total of 3,35,106 shares have changed ahnds so far.
The company is scouting for a second location to have the 1 lakh production capacity in the near future, at an investment of Rs 40 billion and has already selected Uttaranchal to set up a capacity of 40,000 units, where it will invest Rs 12.5 billion.
It also has scouting two locations to diversify its bus body fabrication facility to North India, besides the existing two facilities at Trichi and Madurai, which serves the Southern Region. These facilities will be expanded with equal participation by its Spanish joint venture bus maker, Irizar.
Ashok Leyland is also eyeing the huge growth in the light commercial vehicle segment in the domestic market and is mulling to go in for a joint venture to produce a sub one-ton Tata Motor Ace as light commercial vehicle.
The stock has witnessed a drop of 0.34% over the week and 3.40% over the month.
The shares of United Phosphorus are trading 6.80% at Rs 313.25, compared to the previous close of Rs 293.30 on Wednesday. A total of 269511 shares have been traded on the bourses so far. The stock moved up after it announced that it has acquired Stam herbicide from Dow AgroSciences LLC. (11.34 am)
United Phosphorus has acquired the global propanil herbicide business, marketed primarily as Stam herbicide, from Dow AgroSciences LLC, for USD 25 million including inventories.
To Read MoreClick Here
TV 18 inks distribution deal with ABC
News broadcast player, Television Eighteen India has inked a distribution deal with the Australian Broadcasting Corporation (ABC) to bring its infotainment channel `Australia Network` to 68 million cable homes across the country, reports Business Standard.
The Australian public broadcaster will share content with TV18 Group as well as assist it in taking its channels to Australia.The TV18 Group, which already has CNBC TV 18,CNN-IBN, Awaaz and IBN 7 as a part of its bouquet, will be leveraging its distribution strengths to launch the foreign channel - a strategy that the group is willing to adopt at large.
The agreement is for a period of three years. The USD 780 million ABC network will be investing atleast USD 2 million initially in its efforts to break into the extremely `competitive Indian media market`.The free-to-air channel is looking to bring on board domestic advertising eventually. `India is a big market where we want to be present. As for advertising, most of our advertisers are global players and would want to be beamed in India,` said Ian Carroll, chief executive, Australian Broadcasting Corporation.
Tantia Construction spurts up 5.08%
Tantia Constructions spurted up 5.08% on BSE (11:15 am) on the news that it bagged a construction order from Road Constructions Department, Government of Bihar.
Currently, the shares are trading at Rs 170.80 as compared with the previous close of Rs 162.55 (Wednesday). As many as 10,71,001 shares have been transacted as of now.
The company has received a prestigious construction project of approx. Rs 1577.5 million for the repair and improvement of Patna roads under the `Patna Town Road Project` scheme.
On Monday, the state road construction minister of Bihar, Nand Kishore Yadav said that the government has given the go-ahead signal to Rs. 1.45 billion plan for the development of nearly 100 kilometers of road in Patna district.
For the last six months, the plan was stuck due to one obstacle or another. The tender for the contract was filed by Tantia Construction and filmmaker Prakash Jha`s construction company. However, failing Jha`s compliance with all the formalities within the specified time, the contract was given to Tantia Construction, the minister said.
The stock has shown a rise of 12.89% over the week and 22.13% over the month.
HSBC to to re-align business, concentrate more on retail segment
HSBC India has plans to re-align its business mix in line with emerging trends and venture into other areas with high growth potential in the coming years, reports Business Line.
While corporate and investment banking accounts for an overwhelming part of its overall business, the bank intends to focus more on the other segments in order to achieve a better mix.
Ms Naina Lal Kidwai, Group GM and Country Head, said that the bank is looking at a situation where corporate banking accounts for just about 50%, with the rest coming from other areas.
The company`s modus operandi would be to concentrate on businesses that have significant growth potential and are likely to assume bigger proportions in the days ahead.
The bank currently has 47 branches in 26 cities, and has plans to increase the count.
HSBC accounts for over 50% of the foreign equity investments held in custody.Within the entire HSBC Group, the Indian operations at the end of last year were the 16th largest contributor to profits, while in the first half of the current year, it was the 10th largest.
About USD 300 million is expected to be contributed to group income by end of this fiscal.The bank`s newly launched service, Pragati Finance, is expected to pay handsomely.
On the credit cards front, HSBC has about 1.8 million cards in force and the bank`s asset management business has witnessed a significant growth in recent years.
Ashok Leyland building on capex plans
Ashok Leyland has moved up on the bourses after it announced its plans of investing Rs 52.50 billion to enhance its production capacity by 1,40,000 units over a period of next four to five years.
The company`s shares are trading marginally up by 1.38% to Rs 44.05 as against its previous close of Rs 43.45 (Wednesday) on the bourses. A total of 3,35,106 shares have changed ahnds so far.
The company is scouting for a second location to have the 1 lakh production capacity in the near future, at an investment of Rs 40 billion and has already selected Uttaranchal to set up a capacity of 40,000 units, where it will invest Rs 12.5 billion.
It also has scouting two locations to diversify its bus body fabrication facility to North India, besides the existing two facilities at Trichi and Madurai, which serves the Southern Region. These facilities will be expanded with equal participation by its Spanish joint venture bus maker, Irizar.
Ashok Leyland is also eyeing the huge growth in the light commercial vehicle segment in the domestic market and is mulling to go in for a joint venture to produce a sub one-ton Tata Motor Ace as light commercial vehicle.
The stock has witnessed a drop of 0.34% over the week and 3.40% over the month.
posted by SY at 1:04 PM
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