TOP CORPORATE NEWS - 29 JUN 2016

DLF rallies on capital infusion buzz

Shares of DLF surged nearly 10% touching to Rs146.5, after reports suggested that promoters, KP Singh and his family have decided to wipe out company's debt in a two-step transaction.

According to reports, KP Singh and his family will pump Rs10000 crore into DLF by purchasing shares in a preferential issue by DLF with funds raised from the sale of their stake in the company's rental unit.

ITC to invest Rs4,000 crore to set up 9 plants for expansion

ITC to invest Rs4,000 crore to set up to 9 plants to expand its foods business; new product launches in fast growing categories to sustain – positive read through for the stock

ITC will invest Rs4, 000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products. Its branded packaged foods division grew by around 11 y-o-y to clock a turnover of Rs7, 097.49 crore in 2015-16 and is second largest business for the company after the core cigarette business.

Bosch board meeting on July 1 to consider share buyback

Bosch Ltd will hold a board meeting on July 1,2016 to consider share buyback proposal.

Currently, the promoter holding is 71.18%, while the rest is with the public. Positive for the company.

Indian Oil & Gas companies set to invest $27 billion in exploration

Indian Oil & Gas exploration companies set to invest $27 billion in exploration/production as per Bloomberg.

This is positive sentimentally for upstream exploration companies like ONGC, OIL; more positive for oil anci companies like Mercator, Aban, Seamec, Alphageo among others.

Trent plans to raise up to Rs300 cr via NCDs

Tata group retail firm Trent said that it is planning to raise up to Rs300 crore through issuance of non-convertible debentures on a private placement basis.

The board approved an enabling resolution for raising of funds by issue of non-convertible debentures (NCDs) on a private placement basis up to an amount not exceeding Rs300 crore.

                                   

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