Apollo Global Management has closed the Welspun Corp at Rs 225/share, although the share has dropped sharply since June, taking up the premium from 33% earlier to 74%.
Thermax reported a 32% growth in revenues and net profit rose by 21%, despite higher material costs denting profitability. Order book growth has been slow, rising by 7% over the preceding quarter.
Malaysia’s Khazanah is looking to invest in India’s road infrastructure, by forming a joint venture with IDFC. The Jetpur Somnath toll expressway will be their first project.
Mundra Port & Special Economic Zone’s sales and profits have risen on the back of expanding infrastructure and volumes. Some strain is visible on the expenses front, though not at alarming levels.
Adani Enterprises will invest the money over four years to set up rail and port infrastructure in Indonesia, and will ship nearly 35 million tons of coal to Indian power plants.
Bhel’s order book growth was rather slow in the December quarter. Sales and profit growth were good, but got a boost from a change in the method of accounting for revenues.
The environment ministry offers a truce. Hindustan Construction Company’s Lavasa project will not be axed, if it pays a penalty, creates a restoration fund, and agrees to the ministry's conditions. Will the company settle, or choose to fight it out in the courts? HCC's share up, as investors scent a compromise.
Tata Motors is seeking to make use of JLR’s rising cash flows by leveraging its balance sheet, and refinance existing debt and potentially lower interest costs too.
State Bank of India’s reaction to the credit policy was swift, in a move which will see short term deposit rates spike and all loans will become expensive.
