6.Gail: Gail’s operational performance is expected to remain weak in Q2FY21E mainly on account of the gas trading segment. On the gas business front, gas transmission volumes are expected to decline 3.4% Y oY to 105 mmscmd with its EBIT at | 730.2 crore. We expect EBIT loss from the gas trading segment at | 46.8 crore on account of US LNG volumes. On the LPG liquid hydrocarbon front, EBIT is expected to increase 9% YoY to | 267.7 crore while the petchem segment is expected to report EBIT at | 38.4 crore
7. Exide Industries: Exide Industries is expected to report a steady performance in Q2FY21E primarily tracking a pick-up in wholesale volume prints at the OEM level during the quarter and robust aftermarket product demand. Net sales in Q2FY21E are expected at | 2,334 crore; down 10.6% YoY. EBITDA in Q2FY21E is expected at | 350 crore with corresponding EBITDA margins at 15.0%, up 90 bps YoY. PAT in Q2FY21E is expected at | 195 crore, down 18% YoY amidst low tax rate in base quarter
8.Tata Consultancy Services (TCS) and Deutsche Bank AG today announced an agreement under which TCS will acquire 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG for symbolic Euro 1. PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and its around 1,500 employees will become part of TCS. The transaction is subject to regulatory approval and is expected to be completed by year end 2020.
9.Engineers India Ltd (EIL) to consider a proposal to buyback of fully paid equity shares at its board meeting scheduled to be held on 12th Nov 2020
10.Prestige Estates Projects Ltd has agreed to sell a large portfolio of office, retail and hotel properties to global investment firm Blackstone for an enterprise value of | 9,160 crore. In October, Prestige Estates signed a non-binding letter of intent with Blackstone group entities for the sale of certain direct and indirect interest in certain commercial offices, retail and hotel properties, mall management and identified maintenance business. Prestige has signed term sheets yesterday with the Blackstone group, and the deal is likely to be closed next month.
7. Exide Industries: Exide Industries is expected to report a steady performance in Q2FY21E primarily tracking a pick-up in wholesale volume prints at the OEM level during the quarter and robust aftermarket product demand. Net sales in Q2FY21E are expected at | 2,334 crore; down 10.6% YoY. EBITDA in Q2FY21E is expected at | 350 crore with corresponding EBITDA margins at 15.0%, up 90 bps YoY. PAT in Q2FY21E is expected at | 195 crore, down 18% YoY amidst low tax rate in base quarter
8.Tata Consultancy Services (TCS) and Deutsche Bank AG today announced an agreement under which TCS will acquire 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG for symbolic Euro 1. PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and its around 1,500 employees will become part of TCS. The transaction is subject to regulatory approval and is expected to be completed by year end 2020.
9.Engineers India Ltd (EIL) to consider a proposal to buyback of fully paid equity shares at its board meeting scheduled to be held on 12th Nov 2020
10.Prestige Estates Projects Ltd has agreed to sell a large portfolio of office, retail and hotel properties to global investment firm Blackstone for an enterprise value of | 9,160 crore. In October, Prestige Estates signed a non-binding letter of intent with Blackstone group entities for the sale of certain direct and indirect interest in certain commercial offices, retail and hotel properties, mall management and identified maintenance business. Prestige has signed term sheets yesterday with the Blackstone group, and the deal is likely to be closed next month.