ITC may buy stake in Coffee Day; to vie with Coca-Cola
Posted on 21st August 2019 |
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Months after the global beverage company Coca-Cola showed interest in buying stake in Cafe Coffee Day, Indian tobacco major ITC Ltd may also fight for a stake in CCD’s parent company Coffee Day Enterprises Ltd. ITC, Asia’s most valuable cigarette maker, is looking to diversify from the company’s main selling product — tobacco — and has been given access to review Coffee Day’s assets and financials so that it can contemplate on picking stake, Bloomberg reported citing unidentified sources. If ITC goes ahead with the deal, it will be able to reduce its dependence on the cigarette business. |
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SBI plans to establish nearly 10 lakh YONO Cash Points
Posted on 21st August 2019 |
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State Bank of India, the country’s largest lender, is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its Chairman Rajnish Kumar on Wednesday. The platform is secure and will eliminate the requirement of using debit cards, Kumar said. |
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Resolution plan: Sebi may have reservations on Mutual Fund’s signing DHFL ICA
Posted on 21st August 2019 |
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The resolution plan of Dewan Housing Finance Corporation is expected to remain stuck till mutual funds sign the inter-creditor agreement (ICA), as the Securities and Exchange Board of India (Sebi) is yet to green-light the same. Since July, banks, the Association Of Mutual Funds in India (AMFI) and the Indian Banks Association have separately written to the markets regulator seeking its inputs on whether mutual funds can sign the inter-creditor agreement. At this juncture, the matter is being pursued by RBI with the markets regulator. |
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Maruti offers free five-year warranty to tide over sales slump
Posted on 21st August 2019 |
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To arrest the fall in demand for diesel cars, Maruti Suzuki has announced it will offer free warranty for five years or 1 lakh km to customers across the country on models such as Dzire, Swift, Vitara Brezza and S-Cross. The development comes after sales of Maruti’s diesel engine fell after the announcement made by the company to stop manufacturing these vehicles from April 1, 2020, when the BS-VI emission norms will come into effect. |
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SBI in talks with NBFCs on co-origination of loans
Posted on 21st August 2019 |
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State Bank of India (SBI) is currently in talks with at least 4-5 non-banking financial companies on co-origination of loans, managing director Arijit Basu said on Tuesday. This co-origination could be for home loans or loans to small and medium enterprises, he added. The central bank had released guidelines on co-origination of loans by banks and NBFCs to the priority sector last year with a view to leveraging on the reach of NBFCs to help banks meet their priority sector lending targets. Co-lending also helps leverage on banks’ access to low cost funds. |
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Analyst Corner: Maintain ‘buy’ on NTPC with target price of Rs 158
Posted on 21st August 2019 |
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At its annual analyst meet, the NTPC top management exuded confidence about: Reversal of the CWIP ratio to 20% over the next three years (from 42% currently) led by higher capacity commercialisation; Rs 80,000 crore regulated equity by FY22E, implying a 15% CAGR; aggressive stance in adding renewable energy (RE) capacity under various modes (PPA, merchant, flexi generation, etc), which would earn at least regulated returns, if not higher; and ramping up captive coal mines and that higher ACQ would preclude fuel-based under-recovery. |
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Hyundai drives in all-new Grand i10 NIOS
Posted on 21st August 2019 |
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Hyundai, India's second-largest car manufacturer, has launched its all-new hatchback Grand i10 NIOS priced between Rs 4.99 lakh and Rs 7.99 lakh. NIOS is the third generation of i10 series to be launched in India. The car is available in two engine options, 1.2l petrol engine, which is BS VI-compliant and 1.2l diesel engine. The engine is the company's first BS-VI petrol engine in India. |
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Reliance Industries' $4-bn investment threatened by global natural gas glut
Posted on 21st August 2019 |
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A global glut in natural gas is threatening to undermine a $4 billion investment by Reliance Industries Ltd aimed at boosting profits at the world’s largest oil refining complex. The project made all the sense in the world when energy magnate Mukesh Ambani’s conglomerate announced it in 2012: convert petroleum coke, or petcoke, one of the cheapest and dirtiest refinery by-products, into gas needed to power the massive Jamnagar complex on India’s west coast. |
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Infosys can revise FY20 revenue guidance upwards: ICICI Securities
Posted on 21st August 2019 |
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The country’s second-largest IT services firm Infosys has scope for further revision of its revenue guidance for the ongoing fiscal on the back of a strong deal pipeline. In a note, ICICI Securities said despite talk of a slowdown, macroeconomic factors have not adversely affected the decision making process of its clients. |
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