Bajaj Electricals has announced that it has won orders worth Rs215 crore, to be executed over the next 16-18 months. The first order is from Power Grid for Transmission Line Towers and is worth Rs115 crore. The second order, won from the Madhya Pradesh State Electricity Board, is worth Rs101 crore. This order is a [...]
Tulip is India’s biggest VPN (Virtual Private Network) connectivity provider, and 5th largest player in NI (Network Integration) space. In the VPN segment, Tulip caters to low bandwidth requirements (typically 64-256 kbps) of businesses, primarily through wireless last mile access. We initiate at HOLD with December 2010 TP of Rs1,000, based on discounted cash flow [...]
Deutsche Mutual Fund is going to introduce the New Fund Offer (NFO) for DWS Global Agribusiness Offshore Fund, an open-ended overseas fund. The NFO opens for subscription on March 29, 2010 and will close on March 29, 2010. No entry load is applicable. An exit load of 1% will be charged if the units are [...]
Fortis Mutual Fund has announced dividend under Fortis Short Term Income Fund. The amount of dividend declared is 100% of the available distributable surplus. The record date for the dividend has been fixed as March 31, 2010. The investment objective of the scheme is to provide Income consistent with prudent risk from portfolio comprising of [...]
BGR Energy (BGR) has taken several bigger leaps over the years, from being a mere manufacturer of a few BoP (Balance of Plant) components to executing Turnkey BoP projects, and now gradually executing full-fledged EPC contracts. The company is further scaling-up its capabilities, with a BTG manufacturing foray on the anvil. The company has a [...]
Punj Llyod plans to sell its 19.4% stake in Pipavav Shipyard for Rs656.5 crore to its co-promoter SKIL Infrastructure. This stake, representing 12.9 crore of equity shares, would be sold at Rs50.7 a share at a 20.5% discount to the Friday (26 March, 2010) closing of Rs63.85. Punj Lloyd had acquired the stake in September [...]
As per media reports, Housing Development Finance Corporation (HDFC) plans to transfer its investments in non-core unlisted companies to a special purpose vehicle (SPV). In our sum-of-the-parts (SOTP) based price target we had considered the value of the core mortgage business along with that of HDFC’s investments in its subsidiaries and associates. We had, however, [...]
Mutual Funds (MFs) made investments worth Rs 578.70 crore and sold off Rs 780.50 crore worth of equities on March 26, 2010, according to data released by the Securities and Exchange Board of India (SEBI). Thus, MFs stood as net sellers of Rs 201.80 crore in equities on that day. In the month of March, [...]
Aqua Logistics, a full-scope 3 PL (third-party logistics) service provider, entered into an agreement on March 26, 2010 at Hong Kong to acquire three Hong Kong-based logistics companies — CIT Logistics (CIT), TAG Logistics (TAG) and AGI Logistics (AGI) — through its wholly-owned subsidiary, Aqua Logistics HK. This acquisition in South East Asia will help [...]
SKS Microfinance has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer (IPO) of 1.67 crore equity shares, accounting for 21.6% of the company’s fully diluted post-issue capital. This includes a fresh issue of 0.74 crore shares and an offer for sale of [...]
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