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Monday 9 July 2018

CAPITALSTARS CORPORATE NEWS UPDATE

Jaguar Land Rover reports flat sales in June 2018 as Chinese customers defer purchase
Jaguar Land Rover (JLR), the British luxury carmaker owned by Tata Motors Limited (TML), sold 52,049 vehicles in June 2018. This was 1% higher than June 2017 sales numbers and 8% higher compared to May 2018. The company sold 16,328 Jaguars (up 6% yoy, 13% mom) and 35,721 Land Rovers (down 1% yoy, up 6% mom) in June 2018.
According to the company, June 2018 sales were led by North America (up 7% yoy), UK (up 1% yoy) and other overseas markets (up 17% yoy). European volumes were 4% yoy lower, while Chinese volumes declined 9.5% yoy. The decline in Chinese volume was due to deferment of purchase by Chinese customers. Tariff cuts in China came into effect from July 1, 2018, which is expected to reduce price of cars for Chinese customers. Hence, customers are preferring to play the waiting game, resulting in the drop in volumes.
CapitalStars Investment Adviser

HDFC Bank's deposit growth at 20% yoy in Q1FY19
HDFC Bank’s advances aggregated to ~Rs7.08lakh cr as of June 30, 2018, as compared to Rs5.81lakh cr as of June 30, 2017, and Rs6.5lakh cr as of March 31, 2018.
The bank deposits, meanwhile, aggregated to ~Rs8.06lakh cr as of June 30, 2018, compared to Rs6.71lakh cr as of June 30, 2017, and Rs7.89lakh cr as of March 31, 2018.
The bank’s CASA ratio at June-end of 2018 stood at ~41% compared to 44% as of June 30, 2017, and 43.5% as of March 31, 2018.
CapitalStars Investment Adviser

Berger Paints continues rally following JV with Rock Paint
Kolkata-headquartered paint company Berger Paints continued its rally of over 1.5% following a shareholders’ agreement with Japan-based Rock Paint for setting up a joint venture (JV) in India.
The JV will be for the sale of superior automotive refinish paints in India and Nepal. The company has clarified that Berger will hold 51% and Rock Paint will hold 49% share capital in the entity.
This JV will benefit from Berger’s market knowledge and infrastructural strength and Rock Paint’s technical expertise and high-end products.
CapitalStars Investment Adviser

Ashok Leyland to expand light commercial vehicle business
Automobile company Ashok Leyland is planning to expand its light commercial vehicle business, international operations and defense mobility segment, as per media reports. Apart from this, it aims to replicate the success of its Optare Electric bus in the UK to other countries.
Despite these announcements in Ashok Leyland's annual report 2017-18, the stock was trading flat.
Chennai-based Ashok Leyland, a flagship company of Hinduja Group, is the third largest manufacturer of commercial vehicles (trucks, buses, tippers, trailers and defence vehicles) in India with ~35% market share (Q4FY18). The company also focuses on defense, exports and power solutions.
CapitalStars Investment Adviser

Sterlite Tech gains over 8.5% amid acquisition deal
Optical communication product provider Sterlite Tech advanced over 4% during Monday morning trade after it announced its decision to acquire a 100% stake in Metallurgica Bresciana S.p.A.
Metallurgica is a global supplier serving European telecom companies for fiber cable solutions and specialized cable solutions for various communication network applications. It has operations in Italy and China.
Sterlite provides optical communication products, network and system integration services. In FY18, domestic and international markets contributed 46% and 54%, respectively to sales. STL has 45% market share in the domestic optical fibre market. Meanwhile, it will gain from government schemes - Digital India and BharatNet, and capacity expansion in optical fibre cable (OFC).
CapitalStars Investment Adviser
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