Axis Bank plans to raise Rs.35000 crore

The scrip opened at Rs. 515 and has touched a high and low of Rs. 520.6 and Rs. 513.75 respectively.

Axis Bank is seeking shareholders approval to raise up to Rs. 35,000 crore via debt.

Axis Bank Ltd is currently trading at Rs. 515.55, up by Rs. 1.3 or 0.25% from its previous closing of Rs. 514.25 on the BSE.

The scrip opened at Rs. 515 and has touched a high and low of Rs. 520.6 and Rs. 513.75 respectively. So far 2955860(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 122753.89 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 613.4 on 16-Jul-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 528.05 and Rs. 493 respectively.

The promoters holding in the company stood at 29.73 % while Institutions and Non-Institutions held 56.64 % and 10.27 % respectively.

The stock is currently trading above its 50 DMA.

Liquid Telecom and RBH announce agreement to acquire Neotel

The transaction is subject to approval by South African regulatory authorities and is expected to be completed later this financial year.

Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, announces that it has entered into an agreement to acquire South African communications network operator Neotel. The shareholders of Neotel – Tata Communications of India and minority shareholders led by Nexus Connexion – have agreed for Liquid Telecom to acquire Neotel for ZAR6.55 billion. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel.

The transaction, which is subject to obtaining all affirmative approvals and other corporate approvals that may be required by the shareholders of Neotel and other regulatory approvals, is transformative and will create the largest pan-African broadband network and B2B telecoms provider. Through a single access point, businesses across Africa will be able to access Liquid Africa’s 24,000km of cross-border, metro and access fibre networks. These currently span 12 countries from South Africa to Kenya, with further expansion planned. Commenting on the transaction, Nic Rudnick, Liquid Telecom CEO, said, “We are excited about this transaction.

Leveraging the strengths of RBH, Neotel and Liquid Telecom will offer an unprecedented fibre network with a unique set of services and international connectivity for telecom operators and enterprises across sub-Saharan Africa. For the first time, African companies will be able to connect with each other in a cost effective and reliable way, all on a single fibre network. We will also be increasing investments into Neotel to cater for rapidly accelerating mobile and enterprise traffic, enabling us to launch exciting new products and services.”

Albertinah Kekana, Royal Bafokeng Holdings CEO, said, “This transaction is part of our divestment strategy
and in line with objectives to invest in high growth infrastructure sectors. As a long term investor, we are pleased to be partnering with Liquid Telecom who has a very credible track record in rolling out fibre in challenging and diverse markets. This deal represents our long-term investment approach and our commitment to the African growth story.”

Speaking on behalf of Tata Communications, Neotel’s majority shareholder, Vinod Kumar, Managing Director and CEO, said,“Liquid Telecom is the right partner for the next phase of Neotel’s evolution. Convergence of technologies and services will be the key driver of growth across the globe and this transaction will encourage inclusion and support the growth aspirations of the African continent. We believe that Liquid Telecom will deliver on the vision of a well-connected Africa, which will augur well for the South African telecom industry and Neotel’s customers.”

Nexus Connection, Neotel’s minority shareholder, also welcomed the transaction. Speaking on behalf of Nexus, Kennedy Memani, said, “We welcome this transaction with Liquid Telecom. It will see the sale of Neotel to new shareholders who have the vision, expertise and funding to continue to grow the company and to allow it to reach its full potential in South Africa and across the African Continent. We are confident that customers and employees will benefit from the transaction and from the resulting stability and business expansion.”

The transaction is subject to approval by South African regulatory authorities and is expected to be completed later this financial year.

Tata Communications rallies 7%

Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, announces that it has entered into an agreement to acquire South African communications network operator Neotel.

Tata Communications Ltd stock was higher by 7% at Rs.482.Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, announces that it has entered into an agreement to acquire South African communications network operator Neotel. 

The shareholders of Neotel – Tata Communications of India and minority shareholders led by Nexus Connexion – have agreed for Liquid Telecom to acquire Neotel for ZAR6.55 billion. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel.

The scrip opened at Rs. 478 and has touched a high and low of Rs. 486 and Rs. 475 respectively. So far 130560(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12813.6 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 490.3 on 24-Jul-2015 and a 52 week low of Rs. 325.7 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 462.9 and Rs. 426.7 respectively.

The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 18.01 % and 6.99 % respectively.

The stock is currently trading above its 50 DMA. 

Top 18 stocks in focus today: Tata Comm, HCL Tech, Siemens

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Tata Comm: Liquid Telecom, majority owned by Econet Wireless Global has entered into an agreement to acquire South African communications network operator Neotel. The shareholders of Neotel – Tata Communications of India and minority shareholders led by Nexus Connexion – have agreed for Liquid Telecom to acquire Neotel for ZAR6.55 billion.

Maruti Suzuki India: The company is ramping up production of its compact SUV Brezza and will roll out 10,000 units a month from July, according to reports.This is the second time the company has revised sales estimates for the model launched in March.

Bharat Heavy Electricals Limited: The company has achieved yet another milestone in Afghanistan by successfully commissioning two units of 14 MW each at Salma Hydro Electric Project (HEP) in Afghanistan.

NIIT Ltd: Copthall Mauritius Investment Ltd on Monday bought 22.8 lakh shares of the company at an average price of Rs.81.60 a share, according to the BSE data.

Mangalore Chemicals & Fertilizers Ltd: The company said it has given surety of Rs.225 crore on behalf of its group firm Zuari Agro for the import of phosphoric acid, ammonia and other raw materials used for the production of fertilisers. 

HCL Tech: HCL Technologies Ltd has lost at least $1.5 billion worth of contracts that came up for rebid over the past two years, according to media reports.

Siemens: Siemens has bagged an order for Rs.570 crore from Power Grid Corp (PGCIL) to supply Static Synchronous Compensator (STATCOM) solutions.

National Steel and Agro Industries Ltd: The company has announced about commissioning of "Color Coating Line 2" and "NATIONALUME, an Aluminum Zinc Alloy Coating Line" at existing plant of the Company located at Village Sejwaya, Dist. Dhar, Madhya Pradesh, to meet out demand from domestic and export markets of Color Coated and Aluminum Zinc Alloy Coated Sheets/Coils/Profile Sheets.

MEP Infrastructure Developers Ltd: The company announce has received a Letter of Award (LOA) from NHAI (National Highways Authority of India).

Gujarat State Fertilizers & Chemicals Ltd: The company has announced that the Company's Ammonia-IV Plant shall undergo shut down for a period of 9 days i.e. till July 5 for completion of IBR statute requirements and to attend leakage of NG feed super-heater and iso thermal shift reactor coil. The said plant would come back into the mainstream from July 06, 2016. There will be no major impact on production due to the said shutdown.

Bharti Airtel: The company has extended the merger deal of Bangladesh operations with Axiata until September 26, 2016.

Indian Metals & Ferro Alloys Ltd: The company said that it approved preferential issue of 1 million warrants convertible in to equivalent number of equity shares to the promoter group at Rs.165 each.

Satin Creditcare Network Ltd: The company said it plans to raise Rs.100 crore by issuing bonds on a private placement basis.

Punj Lloyd: The company informed BSE that Singapore High Court has approved in its hearing dated June 27, 2016, the application for placing both PLPL and SEC under Judicial Management.

MBL Infrastructures Ltd: The company has bagged NHAI Project worth Rs 779 crore.

Exide Industries: The company is planning to spend over Rs.1,400 crore for the next one year on capital expenditure for technology up-gradation and capacity expansion, says report.

Hotel Leelaventure: The company is adopting an asset-light strategy for future growth with more properties being taken under the management contract model.