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Weekly Sector Updates from SMC - IndiaNotes.com
Weekly Sector Updates from SMC
SMC | Published: 28 Feb, 2017  | Source : IndiaNotes.com

Automobile


- Maruti Suzuki India reported its smart hybrid vehicles (SHVs) have crossed cumulative sales of 100,000 units this month. The company offers the smart hybrid options in its sedan Ciaz and MPV Ertiga.


- Ssangyong Motor company, the 100% subsidiary of Mahindra and Mahindra (M&M), reported its first ever annual net profit of 58.1 billion Korean Won in 2016 (Ssangyong follows the calendar year as financial year) in a decade compared to a loss of 61.9 billion Korean Won in 2015.


Telecommunication


- Bharti Airtel has signed a definitive agreement with Telenor South Asia Investments Pte Ltd to acquire Telenor (India) Communications Private Ltd. As part of the agreement, Airtel will take over outstanding spectrum payments and other operational contracts, including tower lease.


Pharmaceutical


- Sun Pharma's has inaugurated first production unit in Egypt involving a total investment of USD 12.5 million, signaling growing business ties between India and the key Middle East nation.


- Granules India is planning to invest $84 million in setting up new capacities, expanding existing ones and investing in R&D to improve its product mix in favour of higher value-added products. The investment will be backed by World Bank's investment arm International Finance Corporation (IFC).


Banking & Finance


- HDFC Bank has drawn up ambitious plans for QR code based payments as RBI and payment networks — (Visa/MasterCard/RuPay/American Express) unveils IndiaQR. HDFC Bank has appointed payment tech company In-Solutions Global (ISG) to provide an end-to-endmerchant acquiring platform. ISG will provide a packagewhich includes app development to the switch.


Chemicals


- Tata Chemicals's fertiliser plant at Haldia will remain shut till April 15 due to relocation of ammonia pipeline aswell as annual repair andmaintenancework. Tata Chemicals operates a fertiliser plant at Haldia thatmanufactures DAP, SSP and complexNPK fertiliserswherein ammonia is used as one of the feedstock.


Textile


- Aditya Birla Nuvo is in talks with Indian born Indonesian billionaire Sri Prakash Lohia of Indorama Corporation to sell Indo Gulf Fertilizer. Birla's fertiliser operations, Indo Gulf is a division of Aditya Birla Nuvo, a diversified conglomerate of the Aditya Birla Group which itself is in the middle of a mega merger with Grasim Industries.


Metal & Mining


- Jindal Steel and Power Ltd (JSPL), seeking to reduce its debt and reverse past two years of losses, will commission the blast furnace at its greenfield Odisha plant next month. The move is part of JSPL's strategy to sweat its existing assets and reduce debt in the next few years. The sale of noncore assets is key to raising finances that would help the company retire debt.


- Tata Steel's greenfield steel complex atOdisha's Kalinganagar has surpassed the twomilliontonnemark inhotmetalproduction.Thesteelbehemothhas achieved this milestone in 133 days from the production level of one million tonne. The plant, is the largest operating blast furnace in the countrywith 4,330 cubicmetre capacity,achievedthefirstmilliontonneproductioninOctober.


- NMDC is in discussions with Vietnam-based Masan Resources to acquire a "considerable stake" in its Nui Phao polymetallic mine. The mine, which has rich reserves of tungsten mineral, is located in Thai Nguyen province in Northern Vietnam.


Construction


- Punj Lloyd has won Rs348 crore projects, including 139 crores order from adani ports and 209 crore pipeline contract from Mumbai Port Trust.

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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.