Bharti Airtel hits global bond market with $1-bn issue
Bharti Airtel has approached the global debt market to raise up to $1billion dollar in a 10 year bond sale programme. As per the sources, the bond pricing is likely to fix at 220 basis point above the US treasury, which is currently trading at 2.6%, resulting in effective cost of debt at 4.8%. The money raised would be utilized to fund capex of the company.
Lupin gets USFDA approval of Exforge HCT
Lupin has got USFDA approval for generic version of Exforge HCT (Amlodipine, Valsartan, Hydrochlorothiazide) Tablets, marketed by Novartis Pharmaceuticals. The drug had annual sales of approximately $158 million in the United States, according to IMS data as of September 2014. Teva had 180 days exclusivity on this product starting from December 1, 2014.
Nestle drops on withdrawal of Maggi noodles in India after food scare
Shares of Nestle India dropped 4% to Rs5775 on NSE as the company withdraws Maggi stocks from local stores amid lead crisis.The stock opened at Rs5830 marking days low at Rs5711 and hit an intraday high of Rs5949.95 on NSE so far.
Bajaj Finance to come up with Rs1400 crore QIP
Bajaj finance has launched QIP to raise Rs1400 crore, the SEBI floor price has been set at Rs4407 per share of FV 10 and a premium of Rs4397 per share. This capital raising will help strong growth in balance sheet and hence positive for the company.
Coal India surges after production rise
Shares of Coal India rose over 5%, touching to Rs409, after production of the company in May rose by about 13% as against the corresponding period previous year. Also, the government has announced that it will be resuming coal block auctions by offering 10 mines with a total annual production of 13.14 million tonnes to cement, steel and aluminium companies and captive power producers.The ministry of coal will auction linkages to Coal India’s production for the span of five years.
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