Refiningmarginsmay Pumpuprilearnings
Total Page:16
File Type:pdf, Size:1020Kb
2 COMPANIES MUMBAI | WEDNESDAY, 16 OCTOBER 2019 STOCKS > Adani Transmission > Hindustan Unilever > Bandhan Bank > Indiabulls Housing Finance > JSWEnergy Acquires transmission Q2 EBITDA margin Top gainer in the Seeks confirmation from Lendersapproveresolution IN THE NEWS service provider WRSSTL expanded by 293bps S&P BSE 500 index Sebi on buyback proposal planforInd-Barath’s in Gujarat YoY to 24.8% 700MWpowerplant ~238.05 CLOSE ~2,063.35 CLOSE ~625.05 CLOSE ~189.05 CLOSE ~63.05 CLOSE * OVER PREVIOUS CLOSE 5.82% UP* 2.41% UP* 10.14% UP* 4.47% DOWN* 5.35% UP* > . IN BRIEF Xander to invest ~1,750 crore FlipkartVideoto take onAmazon,Netflix PEERZADAABRAR to video as well. Amazon had “Flipkart Video is offering a in newindustrial platform Bengaluru, 15 October launched its video platform, great platform for content creators Flipkartto set up Amazon Prime in December 2016, to engage with a customer base of unit forfood retail Xander Investment Management (XIM), the Walmart-owned e-commerce and has since built up a strong fan over 160 million people across private equity real estate arm of global major Flipkart is foraying into base with popular shows such as India, through a unique story- Flipkart on Tuesday said it is setting investment firm The Xander Group (TXG), on offering original video content Made in Heaven, Mirzapur, and telling format,” said Guneet up a new local entity — Flipkart Tuesday launched an industrial real estate with the launch of Flipkart the recent Manoj Bajpayee-starrer Monga. “I am excited to be collab- Farmermart — that will focus on platform. It will invest $250 million (~1,750 Video Originals. The Family Man. orating with Flipkart to cater to food retail in India, as it looks to take crore) in logistics, warehousing, and Integrated within the Flipkart The first creator to join today's demand for short-form on arch-rival Amazon in the industrial assets in the key industrial Video platform, launched in Flipkart’s initiative is Academy content, at the convenience of segment. Flipkart is expected to corridors. With this, Xander joins the likes of CPPIB, Warburg August, Flipkart Video Originals Award-winner Guneet Monga, mobile phones. It's great to wit- invest about ~2,000 crore initially in Pincus, Ascendas Singbridge, which have floated such ventures will be produced by well-known who has come on board as the offi- ness that Flipkart Video Originals the business and pump in more in the country. Sponsored by TXG, the platform has raised capital industry figures. Flipkart said it cial creator and curator of short is enabling filmmakers to share funds as required. PTI from European institutional investors that have been limited will produce “bespoke snackable stories for the platform. their stories,” said Monga. partners in XIM-sponsored opportunity funds. XIM Singapore content” that is both mobile-first In the months to come, Flipkart Sikaria of Flipkart said when will act as the investment advisor to the platform. The platform and interactive. will work with renowned industry the company unveiled Video plat- Venugopal named has acquired a portfolio of 2 million square feet incubated by “All the main players are pri- talent and production houses such form earlier this year, the aim was Xander for ~600 crore to seed the platform, it said. marily anchored around fictional as Studio Next, Frames and Sikhya to play a role in on-boarding new firm’s newCPTO RAGHAVENDRA KAMATH< content,” said Prakash Sikaria, Productions, to bring forth first- customers who are not necessari- vice-president, growth and mon- of-its-kind content across genres ly new to the internet but are new Flipkart on Tuesday said it is etisation at Flipkart, adding that and languages. to e-commerce. Within the first elevating Jeyandran Venugopal as Majority of delayed Maruti reports while other over-the-top (OTT) The first original series two months of the launch of chief product and technology officer platforms are focused on metro- Backbenchers hosted by Farah Flipkart Video, the firm said it was (CPTO). He will provide strategic units fall in upper ~154-cr investment politan centres, Flipkart would Khan goes live later this month overwhelmed with the positive leadership to the organisation and mid-segment: JLL in CSR initiatives look at Tier-II and –II cities. and will feature an array of India’s response it received from con- define the technology vision for the Delhi-NCR and Mumbai Maruti Suzuki India on Farah Khan and Prakash Sikaria, vice-president Sikaria said, “More than half most-loved celebrities, engaging sumers. “We saw an opportunity company with specific focus on account for 84 per cent of the Tuesday said it invested (growth and monetisation) at Flipkart, our content is from Tier-III towns.” in nostalgic banter, which will have to create great video content which building future capabilities across total delayed residential over ~154 crore towards its announce the launch of the firm’s first This take the Flipkart vs the audience coming back for is easier for people to consume and product and engineering, Flipkart projects across seven major CSR initiatives in 2018-19. non-fiction series Backbenchers Amazon fight beyond online retail more. is mobile-first,” said Sikaria. said in a statement. BS REPORTER cities in the country, and most The country's largest of the apartments fall in upper carmaker's corporate social mid-segment and premium responsibility (CSR) efforts categories, according to were focused on property consultant JLL. In its community development, Tariffatcurrentlevel research report, JLL has road safety and skill Refining margins may considered houses with price development. "The projects of up to ~75 lakh as are selected based on 'affordable' and 'mid- need-assessment and notsustainable,must segment' category for all cities stakeholder consultation. except Mumbai where the The firm's CSR efforts are pump up RIL earnings threshold has been kept at aligned with the sustai- behiked:AirtelCEO ~1 crore. PTI< nable development goals propagated by the United AMRITHA PILLAY Nations, he added. PTI< Mumbai, 15 October MEGHA MANCHANDA CleverTap raises New Delhi, 15 October Trai’s IUC review will $35 mn from Tiger JSW Group promoter ith an improvement in punish telcos: Jio Global, Sequoia refining margins, Reliance Making a pitch for higher tariffs, Bharti repays ~1.2K-cr debt W Industries (RIL) is expect- Airtel Chief Executive Officer Gopal Vittal Terming Trai's review of call connect CleverTap said it has ed to report a strong quarter for the on Tuesday said the rates at current level charges ‘retrograde’, Reliance Jio completed $35-million series of two companies July-September period. Analysts were “unsustainable” and should go up. said the regulator's consultation C funding round. The round JSW Group promoter Sajjan expect refining to offset weakness On the interconnect usage charges paper is neither warranted nor sust- was led by existing investors Jindal has repaid ~1,200 crore in petrochemicals (petchem) and a (IUC), he said the industry was awaiting ainable and retention of such char- Tiger Global Management of loans raised by pledging lower tax rate benefit for the retail the outcome of the consultation paper ges will harm subscribers and punish and Sequoia India. This new shares of JSW Steel and JSW and telecom businesses. floated by the Telecom Regulatory efficient operators. Jio alleged any funding increases Energy, the conglomerate said RIL will report its financial per- Authority of India (Trai) on the subject. deferment of sunset clause for inter- CleverTap’s investment to $61 on Tuesday. Following the formance for the September 2019 “Over the past 20 years, the IUC has operator termination charges will million since the beginning repayment, pledged shares of quarter on Friday. (From right) Mukesh Ambani, chairman & managing director of been absorbed in the cost of business and end up rewarding ‘designed defau- of 2019 — a period that has both the companies have In a Bloomberg poll, 10 analysts Reliance Industries, with wife Nita and mother Kokilaben BLOOMBERG tariff is what it is and we feel that the tar- lters’, who have deliberately stayed seen the company’s been released by the lenders, estimated RIL’s consolidated net iff is unsustainable and should go up,” away from new technologies. PTI valuation more than double JSW Group said. The pledged profit at ~11,256 crore and nine ana- STRONG ESTIMATES Vittal said on the sidelines of the India from $150 million to shares of both companies lysts estimated revenue at ~1.5 tril- Mobile Congress 2019. Ericsson demonstrates $385 million. BS REPORTER< were worth ~2,500 crore. PTI< lion. Brokerages like Centrum see Q2FY19Q2FY20 estimated On plans to increase tariffs, he said: “I the highest-ever consolidated earn- Gross refining margins ($ per barrel) 9.59.5-10.5 will not speculate on our future plans”. India’s 1st 5G video call ings prospect for the company. In The debate on IUC started after Trai the September 2018 quarter, RIL Consolidated net profit (~ crore) 9,516 11,256 came out with a consultation paper on Ericsson, in collaboration with Singh brothers said ~1,000 cr reported a consolidated net profit of Source: Company results, Bloomberg estimates the IUC and sought stakeholders’ com- Qualcomm, on Tuesday ~9,516 crore. ments for extension of the levy. Earlier, the demonstrated the first live 5G siphoned off, EOW tells court RIL’s refining business is expect- ened, we believe RIL’s ability to same quarter a year ago. regulator had said the levy would be video call in the country on ed to make a comeback in the switch feedstock to gas for as much as Analysts with Bank of Baroda brought down to zero, from the current 6 mmWave. The demonstration was The Economic Offences Wing (EOW) of Delhi Police told a court on September quarter, owing to higher 60-70 per cent of its requirement expect RIL’s retail earnings growth to paise per minute, from January 2020.