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%.
EPC Industrie’s stock was up by 20% as investors reacted to Mahindra & Mahindra’s stake acquisition. Lowering of debt, scale expansion and wider distribution will be some benefits of this acquisition for EPC.
Jain Irrigation Systems is issuing bonus ‘differential voting rights’ shares to investors. Its share price was down 5% despite a good performance in the December quarter.
Borosil has got a windfall from the sale. Shareholders will hope the cash is returned to them via a dividend or share buyback. If the management thinks otherwise, they will be disappointed.
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.
