Weekly news


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Weekly news

  1. 1. Weekly news By: Mandeep Singh
  2. 2. PE stars may team up to buy 18% in Hero Honda • THREE leading US-based private equity (PE) firms— –Carlyle, –Kohlberg Kravis & –Roberts (KKR) and Warburg Pincus — are likely to acquire an effective stake of 15-18% in Hero Honda Motors
  3. 3. • It may result into Japan’s Honda completely exit the country’s largest motorcycle company. • BM Munjal-owned Hero group is in discussions with these PE firms to sell 60-70% stake in a special purpose vehicle (SPV) • to fund the acquisition of Honda’s 26% shareholding—which at current market price is valued at around 9,300 crore.
  4. 4. L&T Q2 net rises 32% to 765 cr on order rush • L & T, India’s largest engineering and construction company, said its 2Q profit grew 32% due to higher orders. • L&T, which earns more than 80% of its revenue from engineering and construction businesses, booked a net profit of 765 crore for the quarter ended September, compared to 580 crore last year.
  5. 5. • “Execution of major project orders picked up during the quarter,” group chief financial officer YM Deosthalee said. • A moderate growth of 11% at 20,464 crore in order flows during the period, mainly due to a delay in prospect orders from public sector and private companies.
  6. 6. • “Orders worth 40,000 crore have been shifted for the third and fourth quarter by the companies that reflected a slower orderflow in the book. However, we are confident of an order book growth of 25% by the end of the current fiscal year,” said Mr Deosthalee.
  7. 7. Indian cos see red over lal dant manjan patent • Now patented in the US by Colgate Palmolive. • Indian ayurvedic companies have sought government intervention to cancel the potenting of its traditional product.
  8. 8. Mahindra Two Wheelers sales up 451% in September • Best monthly sales of 16,569 scooters in September. • A whopping 451% increase year-on- year. • ‘Powerscooter strategy’ targeting youth with its peppy looks and 125cc power engine. • 300cc Mojo is a lifestyle bike, an
  9. 9. TCS joins $2b revenue club in Q2, net up 32% • Profit rose 32% to 2,169 crore for the July-September quarter. • Globally, the company is now the ninth-largest IT services firm when measured by sales and the third by market capitalisation.
  10. 10. Wipro fails to match peers, net up just 10% to 1,285 cr • Net profit for the September quarter rose 10% to 1,285 crore. • Lower than 1,319 crore reported during the first quarter ended June this year. • Operating margins, also came down to 22.2% during the second quarter, from 23.7% reported during the same period last year.
  11. 11. Honda recalls 528,000 cars • Recalling 528,000 vehicles world- wide due to potential problems with a master brake cylinder seal. • Recall, similar to one by Toyota Motor Corp for about 1.5 million vehicles worldwide.
  12. 12. Ctd… • The same supplier, ADVICS Co Ltd, a privately held Japanese company with a unit in the United States, made the seals for both major automakers.