Stocks In Action: December 10, 2012
DSIJ Intelligence / 10 Dec 2012
BHEL is planning to invest Rs 2000 crore for setting up a 600 MW solar equipment manufacturing facility. Cheap imports from China have been long hurting Indian players in solar equipment manufacturing. To protect itself from this factor, the company is pitching for a safeguard duty on imported equipment. This is likely to result in an upward move in the stock price of BHEL today.
Ind-Swift Laboratories is reported to have said that is targeting revenues of Rs 1500 crore by 2015. To achieve this target, it believes overseas markets like Japan, the EU and the US will be its key growth drivers. The main focus area for Ind-Swift laboratories continues to be its active pharmaceuticals Ingredients (API) business, reports Business Standard. This is likely to cause an uptick in the stock prices of Ind-Swift Laboratories.
Wipro announced that it will acquire Singapore-based consumer goods company L.D.Waxson Group in a deal worth USD 144 million. The deal is valued at 2.1 times the revenue reported by L.D.Waxson in 2011-12. The company sells skin and healthcare products in the Asian markets and would be incorporated in the consumer care business of Wipro. This will the stocks of Wipro trading with an upward bias today.
The Ministry of Finance said that the Insurance Regulatory and Development Authority (IRDA) has allowed insurers to have a 20% exposure in infrastructure companies, up from the existing ceiling of 10%. This limit can be further increased by 5% in case of debt, with a prior approval of the Board. This is likely to cause volatility in the stock prices of insurance and infrastructure companies.
Debt-ridden DLF, which recently announced the selling its hospitality arm Aman Resorts has said that the sale of its wind energy business is also closer. Both these transactions are likely to realise between Rs 2500 crore and Rs 3000 crore, partially easing the company’s net debt position of Rs 23220 crore as of September 30, 2012. This is likely to cause an uptick in the stock price of DLF.
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