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Thursday, January 11, 2018

Larger PSU banks to get bigger pie of recap bonds: Fitch
The government's plan to recapitalise state-owned banks is likely to focus on supporting lending growth, with large lenders being the main beneficiaries, credit rating firm Fitch said yesterday. The Lok Sabha last week gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks (PSBs). This would be the first tranche of the Rs 1.35 lakh crore recap bonds that the government would issue over two years. "Government officials have indicated that capital injections are to be targeted at supporting lending growth, which suggests the healthiest state banks - generally the larger ones - will be the main recipients," Fitch said in a statement.

Trump Towers enters North India; M3M to invest Rs 1,200cr
Global realty brand 'Trump Towers' will make its debut in North India through real estate firms M3M India and Tribeca Developers, which launched a luxury residential project yesterday under the marquee in Gurgaon entailing investments of Rs 1,200 crore. M3M and Tribeca will develop 250 ultra luxury residences under a brand licence from The Trump Organization, which is currently led by Donald Trump Jr, son of US President Donald Trump.

Yoozoo Games launches 'Poker Champions'
Yoozoo Games, the Shanghai based Gaming major with a strong presence in India and development centre at Pune, yesterday formally launched 'Poker Champions’ for the Indian market. Poker Champions is an online mutiplayer social casino game that incorporates the popular poker variation, Texas Hold'em Poker. Highlighting Yoozoo’s gameplan to capture the Indian Social Casino segment, Anuj Tandon, CEO - India of Yoozoo Games says, “With Poker Champions, we are bringing a world class Poker experience to Indian gamers where they will be able to play with real players from the first day of launch.”

Go Folic initiative by Meyer Vitabiotics
Spina Bifida Foundation, a foundation aimed at prevention of Birth defects and Meyer Vitabiotics, a leading pharmaceutical company, jointly announces a one of its kind initiative “GO FOLIC” campaign in India. This campaign is aimed to create awareness on prevention of Spina Bifida, congenital birth defect. This initiative is launched as part of Corporate Social Responsibility, a joint initiative by Meyer Vitabiotics in collaboration with Spina Bifida Foundation to make a positive difference in society. Bollywood actress Raveena Tandon is the brand Ambassador for GO FOLIC campaign. Speaking about the cause Rohit Shelatkar, Meyer Vitabiotics Vice President said “This campaign will educate people on the importance of Folic acid and its requirements during pregnancy for a growth of a healthy baby”
Banana Leaf now in Borivali
The hugely popular vegetarian restaurant food chain has now expanded further north of Mumbai in Borivali. Banana Leaf is well known for its expertise in making South Indian dishes. It brings flavors from Andhra Pradesh, Kerala and Tamil Nadu under one roof. The name conjures Aromas of the mouth-watering delights of Southern flavors, as the meal comes to you on a ‘Vazhaillai’ a freshly cut Banana Leaf. The traditional experience transports you to the Southern states of India. Aesthetics and ambience apart, banana leaf offers an array of South Indian specialties put together in a menu that has something from everywhere down South.

Alkem Labs shares jump nearly 6%; m-cap up by Rs 1,523 cr
Shares of Alkem Laboratories yesterday soared nearly 6% after the company said it has received an establishment inspection report (EIR) from the US health regulator on closure of inspection of its Baddi facility. The stock surged 5.74% to end at Rs 2,347.70 on BSE. During the day, it gained 11.15% to Rs 2,468 - its 52-week high. The company's market valuation went up by Rs 1,523.28 crore to Rs 28,070.28 crore. The US Food and Drug Administration (USFDA) has issued an EIR for the company's manufacturing facility at Baddi, Himachal Pradesh, Alkem Labs said in a regulatory filing.

BoI signs pact with RXIL as TReDS partner
State-run Bank of India has entered into an agreement with the Receivables Exchange of India (RXIL) as a trade receivables discounting system (TReDS) partner for discounting invoices of MSMEs on digital platform. RXIL is a joint venture between Sidbi and NSE, set up to operate a TReDS platform for factoring of invoices of the MSMEs in compliance of guidelines issued by RBI. TReDS is a digital platform to help MSMEs to get their trade receivables financed at a competitive rates through an auction mechanism.

HUL launches Swachh Aadat Swachh Bharat campaign
Hindustan Unilever Limited (HUL), as part of their Swachh Aadat, Swachh Bharat initiative launched their new campaign to promote healthy hygiene habits among children. The campaign was launched by film actress Kajol Devgan.

SMT raises Rs 230-cr from Morgan Stanley, Samara Capital
Cardiac stents maker Sahajanand Medical Technologies (SMT) has raised Rs 230 crore from Morgan Stanley Private Equity Asia and Samara Capital. "As part of the current transaction, a fund managed by Morgan Stanley has invested Rs 160 crore into the company for a minority stake. Our  existing investor Samara Capital also participated in the round with Rs 70 crore," SMT said in statement yesterday. The proceeds from the transaction will be used to finance SMT's organic growth, acquisitions and R&D.

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