In an interview to CNBC-TV18, G Chokkalingam, Founder & MD of Equinomics Research & Advisory discussed fundamentals of the market and shared outlook on his top picks.
Cement prices have firmed up in the past one month, and Heidelberg has taken a price hike of about Rs 5-10 per bag, says Jamshed Naval Cooper, CEO and MD, HeidelbergCement India.
The Bhopal-based company has partnered with Ukrainian firm Mostobudivelnyi Zahin (MBZ) for its technical expertise to construct the cable bridge, a statement here said.
Deepak Fertilizers sold 12 percent stake in Mangalore Chemicals through a block deal on Monday.
Throughout the month of December, the company sold close to 26 lakh shares in Mangalore Chemicals. This means that Deepak Fertlisers‘ stake in Mangalore Chemicals is now down to little over 29 percent from 32 percent.
The voluntary open offer for 3.07 crore MCFL shares constitutes 25.90 percent of the company's fully diluted voting equity share capital. The offer is not conditional upon any minimum level of acceptance.
In a surprise move on December 1, Mallya had resigned as director of the Mangalore Chemicals and Fertilizers Ltd (MCFL), which is the target of a takeover battle between Deepak Fertilisers and Zuari Group.
After losing control of marquee firms United Spirits and United Breweries, it appears that one of the last-remaining jewels in UB‘s crown, Mangalore Chemicals and Fertilizers (MCF), is set to go.
According to a report in the Business Standard that quoted persons privy to the development, United Bank of India has asked the regulator to reconsider the approval given as the UB-Zuari joint open offer for MCF, as it had identified Mallya‘s now-grounded airlines, Kingfisher, a ‘wilful defaulter‘.
Under the deal, Deepak Fertilizers' subsidiary SCM Soilfert would acquire up to 26 percent shareholding in MCF through an open offer in addition to 0.8 percent stake buy through open market. MCF is part of Vijay Mallya's UB Group.
Spicejet | Reliance Power | United Breweries | Glenmark Pharma | GSK Consumer | Jet Airways | Unitech | Mangalore Chemical | Deepak Fertiliser | ING Vysya Bank | DLF | IOC | Kingfisher Airlines | MphasiS | Garware Wall | Lupin and Alstom T&D are stocks, which are in the news today.
Hindustan Unilever | Mangalore Chemical | Deepak Fertilisers | Future Ventures | Tech Mahindra | Hindustan Copper | NTPC | Sadbhav Engineering | Jet Airways | Prime Securities | CCL Products | JSW Energy and JSW Steel are stocks, which are in the news today.
Emkay Global Financial Services has come out with its report on agriculture and chemical sector. According to the research firm, Media reports suggest that CCEA has approved the New Urea Investment Policy. Remain positive on Chambal Fertilisers (accumulate) and Tata Chemicals (buy) are key beneficiaries along with RCF (NR) and Zuari (NR).
Indian markets had a laggard session yesterday. Will it play out the same way today as well? Read on for more...
Tarun Surana, Research Analyst (Institutions), Sunidhi Securities & Finance Limited suggests that though the depreciation of the rupee is increasing the costs of production for fertilizer companies, it is still sensible to buy GSFC and Zuhani.