Companies and Markets

Companies & Markets

Sandhar Tech IPO from next week

Delhi-based auto components maker Sandhar Technologies announced a Rs 512-crore initial public offering in the price band of Rs 327 to Rs 332 per share. The public offer opens on March 19.

The IPO comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale of 64 lakh shares by private equity investor GTI Capital Beta.

Eicher ends Polaris JV, Multix dumped

Eicher Motors, the listed parent of Royal Enfield motorcycles, will shut down Eicher Polaris, its six-year joint venture with USA’s Polaris Industries Inc as the sales of Multix, a personal utility vehicle made by the venture, dropped to unsustainable levels in India.

The equal joint venture was incorporated in 2012 and its sole product, Multix, was launched in 2015 from its factory on the outskirts of Jaipur in Rajasthan.

Suzlon to set up 36 wind units for Maharashtra utility

Wind turbine maker Suzlon Energy, the fifth largest player globally, has signed a 75 megawatt repeat order for wind power project contract from an independent power producer, which would earn it total revenues of about Rs 487 crore.

The project, won in bid from the Maharashtra State Electricity Distribution Company, entails installation of 36 units of S111-140m wind turbine generators (WTGs) with a rated capacity of 2.1 MW each, said the Pune-headquartered wind power major.

HAL sets price band at Rs 1,215 to Rs 1,240

Hindustan Aeronautics (HAL) announced its long-awaited initial public offering (IPO) of shares worth Rs 4,229 crore, leading to divestment of 10 per cent Government of India stake in the 100 per cent government-owned defence air craft manufacturer, developer and service provider.

The IPO price band has been fixed at Rs 1,215 to Rs 1,240 per equity shares of face value of Rs 10 each.

The public offer opens on March 16 and closes on March 20.

Small cars have higher insurance loss ratio than SUVs

Insurance companies generally tend to believe that SUVs or mini-SUVs would have higher loss ratio and hence they price the premium accordingly, while they overlook the potential of small cars to make claims. But a study has found that SUVs like Scorpio or Fortuner have lesser loss ratio compared to ones like Eon, Alto and Celerio.

Topsy-turvy ride for bank stocks since recap plan

It has been a roller-coaster ride for PSU banks ever since the government announced the recapitalisation plan on October 25 last year. State-owned lenders had recorded gains of 20 to 50 per cent that day.

BSNL, Air India, MTNL worst performing PSUs

Energy giants Indian Oil, ONGC and Coal India are money-spinners among the government-run companies, while telecom behemoths BSNL and MTNL and national carrier Air India continue to drill holes in the exchequer.

Finance Bill to make govt stand clear on LTCG tax

The government on Tuesday said it has not taken any decision on the representations demanding withdrawal of long-term capital gain (LTCG) tax reintroduced in Budget 2018. In a written reply to the Rajya Sabha, minister of state for finance Shiv Pratap Shukla said: “Representations have been received requesting for withdrawal of the proposal to introduce tax on LTCG on listed securities through Finance Bill, 2018.”

Trai bets big on 5G potential, cautious on base pricing

Telecom regulator Trai on Tuesday said it is in consultation with various agencies to work out the 5G spectrum base price in the absence of any domestic benchmark as these bands would be auctioned for the first time in the country.

“There are certain bands which will be auctioned for the first time. There are no domestic benchmarks available for this. So we are working with various agencies to come to a decision on the pricing,” RS Sharma, chairman, Telecom Regulatory Authority of India (Trai), told Financial Chronicle.