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Friday, 19 January 2018

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Capitalstars Updates: Top Corporate News :- 19 Jan 2018

Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 19 Jan 2018

Alembic to consider share buyback
Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance
Lupin launches generic Vibra-Tabs tablet in the US
Cadila Healthcare's Dabhasa plant clears USFDA inspection
GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%


Alembic to consider share buyback
Alembic Ltd has indicated that the board of directors would consider and approve the share buyback in the board meeting to be held on January 23, 2018. The board of directors would also consider the minimum a the d maximum number of shares, mode of the buyback, etc.
Alembic Ltd in Q2FY18 reported debt-free balance sheet and had a cash and investments (long term and short term) of Rs735cr. It has a total net worth of Rs911cr. Capex requirement has not been very high in the last three years. Overall balance sheet remains strong and has been generating cash flows over the past three years.

Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance
Jubilant Foodworks (JFL) stock rallied 7.0% backed by strong quarterly performance. The stock is currently trading at a 52-week high on the BSE.
The stock reacted positively on account of its strong Q3FY18 performance. JFL reported a strong set of numbers for Q3FY18, significantly ahead of consensus estimates on operating and profitability fronts. Revenue grew by 20.7% YoY to Rs795.2cr. Same Store Sales (SSS) growth for Domino’s for the quarter stood at 17.8% yoy led by product upgrades, everyday value pricing offers. Dunkin' losses have continued to reduce owing to the sharper focus on donuts and beverages and closure of unprofitable stores.

Lupin launches generic Vibra-Tabs tablet in the US
Pharma Major Lupin announced the launch of its Doxycycline Hyclate Tablet USP, 100 mg having received an approval from the United States Food and Drug Administration (FDA) earlier.
Lupin’s Doxycycline Hyclate Tablet USP, 100 mg is the AB-rated generic equivalent of Pfizer Inc.’s Vibra-Tabs, 100 mg. It is indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.
Doxycycline Hyclate Tablet USP, 100 mg had annual sales of approximately USD 144 million in the US. (IMS MAT November 2017).

Cadila Healthcare's Dabhasa plant clears USFDA inspection
Cadila Healthcare reported that its Dabhasa plant has cleared a USFDA audit with zero observations. Dabhasa is an API plant, which is located near Vadodara. This plant was earlier cleared by the Mexican health authority (COFEPRIS) as per its conference call in August 2017.
Last year, Cadila received approval for its Moraiya facility, which is very critical for its pipeline monetization and future growth. We believe that clearance to another plant is a positive news on this counter. While the facility approvals are positive, competition in the US market is expected to put pressure on margins in FY19E. The stock currently trades at a rich valuation (23x of FY19E EPS).

GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%
Jain Irrigation Systems stock is up 4% on the back of the news that the GST rate on Drip irrigation systems including laterals, sprinklers products has been reduced from 18% to 12% as per the decision was taken at 25th GST Council Meeting held on January 18, 2018. The new GST rates shall be effective from January 25, 2018.
The company has decided to pass on this benefit of 6% directly to the customers/farmers. This is a positive step taken by the Government to encourage farmers to invest in efficient irrigation systems which saves water and improves productivity. We estimate that this action will have a positive impact in the upcoming busy season for our Drip Irrigation Division, according to the press release.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


1 comment:

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