Top stories this week… - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Top stories this week…

Dec 23, 2000

BOI trims workforce…
Bank of India, a state run bank, has decided to wind up its merchant banking and its subsidiary BOI Finance (the company engaged in trading related activities) in order to concentrate on its core business activities. The bank’s voluntary retirement scheme supposedly has received tremendous response with more than 7,000 employees opting for it. However, the bank is yet to fix a time frame for winding up these operations. Slowdown continues…
Country’s leading automobile companies recorded a decline in sales volume for November 2000. Heavy commercial sales and passenger cars sales dropped by 24 percent and 19 percent respectively in November 2000. The automobile sector has been severely affected due to sales tax rationalisation and hike in diesel prices, which has resulted in slow down in sales.

HLL’s next target…
Hindustan Lever Limited has decide to set up its fourth personal product manufacturing unit in Assam so as to cater the Eastern part of India. The new unit is expected to manufacture shampoo sachets and skin care products. The company had been planning to set up one such unit for quite some time.

IDBI issues bonus shares…
Industrial Development Bank of India (IDBI) has decided to issue bonus equity shares in the ratio of 3:5 (three bonus shares for every five shares held). This is expected to increase the share capital to Rs 6.5 billion (US$ 138 million). It has also proposed to maintain the dividend payout ratio at 45 percent.

Disinvestment on the move…
The government of India has decided to bring down its stake in the state run infotech major, CMC Limited, to 26 percent from the current 83 percent. It has proposed to divest the remaining 26 percent stake to a strategic partner. The company’s area of operation includes software maintenance and development, education & training and products businesses.

Astra takes majority…
IDL Industries, the Hinduja owned company, has planned to divest its 26 percent in Astra-IDL at the rate of Rs 670 (US$ 14.2) per share. This would mean that AstraZeneca would have majority holding of 51 percent in Astra-IDL. The enterprise value at the acquisition price works out to Rs 3.3 billion (US$ 70 million).

Indian Rayon gets global rights…
Indian Rayon, the A V Birla Group Company, has acquired the global rights for its prominent brands, which include Louis Phillipe, Van Heusen and Peter England from Coats Viyella of UK, for a consideration of US$ 2.3 million. The new territories that are added to its fold are Europe, Far East, Africa and West Asia (apart from India, Gulf and SAARC countries). This also includes the conversion of existing limited rights in the Middle East to complete ownership.

Piramal acquire Rhone…
Nicholas Piramal has announced the acquisition of 40% stake of Rhone Poulenc from Aventis AG. Wockhardt, Pharmacia Cadilla and Ranbaxy were also in the race for acquiring this stake. The price at which the stake has been acquired is Rs 875 (US$ 18.6) per share. Nicholas had a cash and bank balance of Rs 498 million (US$ 10.6 million) as at March 31st, 2000. Assuming the company would have to make an open offer for another 20 percent of the shares, Nicholas would have to shell out Rs 2.4 billion (US$ 51 million) for the total 60 percent stake. (Dec 22)

Another cellular consolidation…
Birla-AT&T-Tata, the merged entity of the Birlas, the Tatas and AT&T, has acquired a 100 percent stake in RPG Cellular for a consideration of Rs 4 billion (US$ 85 million). RPG Cellular is the cellular service provider in Madhya Pradesh, a joint venture between RPG Group and Vodafone, the UK based telecom major. It has a subscriber base of 25,000.


Equitymaster requests your view! Post a comment on "Top stories this week…". Click here!

  

More Views on News

AVANTI FEEDS Announces Quarterly Results (1QFY21); Net Profit Up 14.1% (Quarterly Result Update)

Aug 28, 2020 | Updated on Aug 28, 2020

For the quarter ended June 2020, AVANTI FEEDS has posted a net profit of Rs 1 bn (up 14.1% YoY). Sales on the other hand came in at Rs 10 bn (down 12.6% YoY). Read on for a complete analysis of AVANTI FEEDS's quarterly results.

RELAXO FOOTWEARS Announces Quarterly Results (1QFY21); Net Profit Down 51.3% (Quarterly Result Update)

Aug 24, 2020 | Updated on Aug 24, 2020

For the quarter ended June 2020, RELAXO FOOTWEARS has posted a net profit of Rs 242 m (down 51.3% YoY). Sales on the other hand came in at Rs 4 bn (down 43.9% YoY). Read on for a complete analysis of RELAXO FOOTWEARS's quarterly results.

FORTIS HEALTHCARE 2018-19 Annual Report Analysis (Annual Result Update)

Oct 18, 2019 | Updated on Oct 18, 2019

Here's an analysis of the annual report of FORTIS HEALTHCARE for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of FORTIS HEALTHCARE. Also includes updates on the valuation of FORTIS HEALTHCARE.

THOMAS COOK INDIA 2018-19 Annual Report Analysis (Annual Result Update)

Oct 18, 2019 | Updated on Oct 18, 2019

Here's an analysis of the annual report of THOMAS COOK INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of THOMAS COOK INDIA. Also includes updates on the valuation of THOMAS COOK INDIA.

MSTC IPO: Should You Bet on This State-Run E-Commerce Player? (IPO)

Mar 13, 2019

Should you subscribe to the IPO of MSPC Limited?

More Views on News

Most Popular

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

My Top Stock to Buy in this Market Selloff (Profit Hunter)

Sep 22, 2020

The recent correction offers a great opportunity to buy this high conviction smallcap stock.

Can the Nifty Fall to 10,200? (Fast Profits Daily)

Sep 24, 2020

The Nifty has reached an important support level today. If it breaks then we could see further downside.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

MARKET STATS