Stocks in the news:
1.Titan Company: Titan Company in its business update stated that it witnessed good traction across all its businesses in the festive season. The Jewellery business witnessed ~15% growth for the 30 day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded Jewellery sales. The Watches and Wearables division also performed reasonably well with division reaching recovery rate of ~90%
2. L&T: L&T's transportation infrastructure business awarded another mega (>| 7000 crore) contract from NHSRCL to construct 87 km (~17% of total alignment) of the Mumbai-Ahmedabad High Speed Rail (MAHSR) project under C6 package. Earlier, it bagged the C4 package of the project involving construction of a 237 km stretch. With this, ~63% of the total project alignment is now awarded to L&T for construction related work.
3.Bharti Infratel/Vodafone Idea: The merger of Bharti Infratel and Indus Towers to create a mega tower company (renamed as Indus Towers) has been completed. Airtel stake in the combined entity will be 36.73%, while Vodafone group and Providence will hold 28.12% and 3.25%, respectively. Vodafone Idea (VIL)has received | 3,760.1 crore cash for its 11.15% holding in Indus. We note that VIL has agreed to make a prepayment of ~| 2400 crore to the merged tower entity from the cash consideration to be received from Infratel at the time of closing.
4. Mphasis: Mphasis has acquired Datalytyx Limited, a leading UK based, Snowflake and Talend partner specializing in Next-Gen Data Engineering and consultancy company for consideration up to GBP 13.3 million (~| 130 crore) for 100% stake. The acquisition is expected to provide access to strengthen Mphasis Next-Gen Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services. The acquisition closed on 19 November 2020 consequent to signing of the definitive agreement
5.Infosys: Infosys has built a vaccine management cloud solution on the Salesforce Platform in collaboration with Salesforce Work.com. The companies have created an end-to-end vaccine management solution to help support the federal government’s mandate for states to be ready to distribute a coronavirus vaccine.Infosys vaccine management solution built on the Salesforce Platform covers a broad spectrum of vaccine management, including campaign management, citizen registration, prioritization, provider enrollment, supply chain visibility, forecasting, vaccine administration, wellness surveys, and adverse event monitoring.
6.State Bank of India: As per media, State Bank of India (SBI), the lead lender to Dewan Housing Finance Corp. Ltd, (DHFL) has asked fellow lenders to persuade all four suitors to the bankrupt home financier to upgrade their offers as an improvement in the asset quality of the mortgage lender has made it more valuable
7. Syngene: Syngene and Deerfield Discovery and Development (3DC) have signed a five-year strategic collaboration to advance therapeutic discovery projects. This collaboration will unite core skills of the investment management company Deerfield, through its drug discovery and development arm 3DC, and Syngene’s integrated drug discovery (IDD) services.
1.Titan Company: Titan Company in its business update stated that it witnessed good traction across all its businesses in the festive season. The Jewellery business witnessed ~15% growth for the 30 day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded Jewellery sales. The Watches and Wearables division also performed reasonably well with division reaching recovery rate of ~90%
2. L&T: L&T's transportation infrastructure business awarded another mega (>| 7000 crore) contract from NHSRCL to construct 87 km (~17% of total alignment) of the Mumbai-Ahmedabad High Speed Rail (MAHSR) project under C6 package. Earlier, it bagged the C4 package of the project involving construction of a 237 km stretch. With this, ~63% of the total project alignment is now awarded to L&T for construction related work.
3.Bharti Infratel/Vodafone Idea: The merger of Bharti Infratel and Indus Towers to create a mega tower company (renamed as Indus Towers) has been completed. Airtel stake in the combined entity will be 36.73%, while Vodafone group and Providence will hold 28.12% and 3.25%, respectively. Vodafone Idea (VIL)has received | 3,760.1 crore cash for its 11.15% holding in Indus. We note that VIL has agreed to make a prepayment of ~| 2400 crore to the merged tower entity from the cash consideration to be received from Infratel at the time of closing.
4. Mphasis: Mphasis has acquired Datalytyx Limited, a leading UK based, Snowflake and Talend partner specializing in Next-Gen Data Engineering and consultancy company for consideration up to GBP 13.3 million (~| 130 crore) for 100% stake. The acquisition is expected to provide access to strengthen Mphasis Next-Gen Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services. The acquisition closed on 19 November 2020 consequent to signing of the definitive agreement
5.Infosys: Infosys has built a vaccine management cloud solution on the Salesforce Platform in collaboration with Salesforce Work.com. The companies have created an end-to-end vaccine management solution to help support the federal government’s mandate for states to be ready to distribute a coronavirus vaccine.Infosys vaccine management solution built on the Salesforce Platform covers a broad spectrum of vaccine management, including campaign management, citizen registration, prioritization, provider enrollment, supply chain visibility, forecasting, vaccine administration, wellness surveys, and adverse event monitoring.
6.State Bank of India: As per media, State Bank of India (SBI), the lead lender to Dewan Housing Finance Corp. Ltd, (DHFL) has asked fellow lenders to persuade all four suitors to the bankrupt home financier to upgrade their offers as an improvement in the asset quality of the mortgage lender has made it more valuable
7. Syngene: Syngene and Deerfield Discovery and Development (3DC) have signed a five-year strategic collaboration to advance therapeutic discovery projects. This collaboration will unite core skills of the investment management company Deerfield, through its drug discovery and development arm 3DC, and Syngene’s integrated drug discovery (IDD) services.