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Weekly Sector Updates from SMC - IndiaNotes.com
Weekly Sector Updates from SMC
SMC | Published: 14 Mar, 2017  | Source : IndiaNotes.com

Power


- Tata Power Delhi Distribution has reported it is planning to install 1,000 electric vehicle charging stations in next four to five years in Delhi. The company plans to set up these charging stations at various locations in North and North-West Delhi and is already in discussions with MCD and DMRC for space.


- NTPC announced that 45 MW of Bhadla Solar Power Project of NTPC has been commissioned. With this, the installed capacity of Bhadla Solar Power project has become 160 MW and that of NTPC's solar power projects has become 520 MW.


Pharmaceutical


- Lupin has launched generic paxil drug used for treatment of major depressive order in the US market. The drug is used for treatment of major depressive, panic, social anxiety and premenstrual dysphoric disorder. The company received an approval from the United States Food and Drug Administration (FDA) earlier.


- Dr Reddy's Laboratories has received 13 observations fromtheUS health regulator for its formulation manufacturing facility at Duwada, Visakhapatnam.


Telecom


- Bharti Airtel and Millicom International Cellular have entered into an agreement to merge their respective units in Ghana to create the secondlargest mobile carrier in the African country. Airtel and Millicom will have equal ownership and governance rights in the combined entity.


- The proposal to merge state-run telecom firms BSNL and MTNL is back on the discussion table, a top-level meeting recently discussed possibility of merging both the entities that are facing financial stress due to increasing competition in the sector.


- The telecom industry's pricing war is spreading to advertising, as top carriers Bharti Airtel, Vodafone India and Idea Cellular jacked up spending on promoting their latest price points and services to ring-fence users from jumping ship to Reliance Jio Infocomm.


Metal & Mining


- Hindustan Zinc, a producer of zinc-lead-silver, will commission its first Zinc fumer plant at the cost of `570 crore to extract metals from the waste. It will improve recovery of zinc from 96.8 % to 97.5% and would add about 3000 tonnes of zinc from just one smelter per annum. It will also increase Lead production by about 4700 tonnes and Silver by 33 tonnes per annum.


Banking & Finance


- IndusInd Bank has reported it is in talks with multiple entities for business expansion, including the widely speculated merger of Bharat Financial Inclusion (BFI).


Information Technology


- Wipro has completed the $70 million sale of its EcoEnergy division. The impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the quarter and year ending March 31.


- Tech Mahindra Ltd will buy US-based healthcare provider CJS Solutions Group for an enterprise value of $110 million. The deal includes an upfront cash payment of $89.5 million to buy an 84.7 per cent stake in CJS with the remaining 15.3 per cent to be acquired over three years.


Retail


- V2 Retail has opened an operational retail store in Lanka Varanasi, Uttar Pradesh. With this, there are currently 37 retail stores in operations.


Logistics


- Snowman Logistics has completed the construction of the temperature controlled & dry warehouse located at Aroor Village, Cherthala, Alapuzha and the facility is now ready for operations with a total capacity of 4500 pallets, thereby taking the total capacity of the company to 1,03,000 pallets.


Cement


- Jaiprakash Associates has got the approval of National Company Law Tribunal (NCLT) for transfer of its cement plants to the Aditya Birla group firm, UltraTech Cement.

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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.