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H D F C
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| Housing Development Finance Corporation announced that it is raising Rs 2500 crore with option to retain oversubscription of Rs 2500 crore through issue of Senior Secured Redeemable Non Convertible Debentures of Rs 10 lakh each on private placement basis.
The object of the issue is to augment the long term resources of the corporation. The proceeds of the present issue would be utilised for financing / refinancing the housing finance business requirement of the corporation. The issue opens and closes on 21 November 2019.
The NCDs will be listed on BSE and NSE.
The issue has been rated CRISIL AAA and ICRA AAA. |
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Tata Steel
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| Tata Steel outlined proposals for a transformation programme in
Europe. The programme is needed to ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability. At the same time, it aims to secure the foundation for investments required to accelerate innovation and the company's journey
towards carbon-neutral steelmaking.
Tata Steel highlighted plans to urgently improve its financial performance to make sure the European business becomes self-sustaining and cash positive, while enabling investment to safeguard its long-term future. The plans include a proposed new way of working to boost productivity and reduce bureaucracy as well as a focus on increasing sales of higher-value steel products and solutions.
The programme is focused on four areas to improve financial performance:
▪ Increasing sales of higher-value steels by improving product mix and customer focus;
▪ Efficiency gains by optimising production processes, supported by the application of big data
and advanced analytics;
▪ Lowering employment costs, leading to an estimated reduction in employee numbers of up
to 3,000 across Tata Steel Europe's operations, about two-thirds of which are expected to be
office-based (‘white collar') roles;
▪ Reduction of procurement costs through smarter sourcing and strengthening cooperation
with companies within the Tata Steel group.
Through its proposed transformation programme, Tata Steel Europe is initially targeting a positive
cash flow by the end of its financial year ending March 2021. It is also aiming for an EBITDA
margin of around 10% throughout the market cycle. Based on full year 2019 revenue figures, this
would equate to £750 million in EBITDA. With improved earnings and cash flows, Tata Steel
Europe will be a financially self-sustaining business able to invest in asset reliability and
improvements while also servicing its financial obligations to its lenders and shareholders. |
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West Coast Paper
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| West Coast Paper Mills announced the appointment of Virendraa Bangur as additional Director in the
category, Non-Executive, Non-Independent Director of the Company. |
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Wipro
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| Wipro announced that Appirio, a Wipro company, has partnered with software provider MuleSoft to provide digital integration solutions that allow businesses to enhance the value and versatility of their customer relationship management (CRM) systems.
Appirio's Salesforce implementation solutions enable businesses to design, build, and deploy
omni-channel user experiences, while MuleSoft's Anypoint Platform offers integration capabilities
to connect any application, device, or data source in a standardized way. The combination of
services will allow organizations to leverage Appirio's ability to develop and execute Salesforce
strategies while also utilizing MuleSoft's ground breaking APl-led framework. The result is a 360-
degree view of enterprise operations and new customer insights that form the basis for delivering
engaging experiences across all consumer touch points. |
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Alkyl Amines
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| Alkyl Amines Chemicals announced that the company has on 18 November 2019 sold 29,77,996 equity shares representing 30.44% stake held in Diamines & Chemicals. With this sale, Diamines & Chemicals has ceased to be an associate company of Alkyl Amines Chemicals. |