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Entertainment Network, Mahindra Lifespace, Vakrangee and VA Tech Wabag Witness Big Deals


We bring you the “Big Deals” for today. A summary of the most important Bulk and Block Deals.

Today’s Big Deals:

Entertainment Network – Operates FM radio broadcasting stations in 32 Indian cities under the Radio Mirchi brand name in India. It develops content or programming formats, as well as sells airtime to advertisers.
Amansa Holdings – one of the Big Whale Investment Firms purchased 573,009 shares or 1.20% to its already existing holding of 22 lakh shares. This brings it total holding to 27.76 lakh shares or 5.82% closely matching Acacia Holdings.
Entertainment Network released its Q2 financials later yesterday:

  • Revenue from Operations stood at Rs. 129.64 crore against Rs. 116.27 crore
  • Profit After Tax dropped from Rs. 27.13 crore to Rs. 8.05 crore
  • EPS stood at Rs. 1.69 against Rs. 5.69 previously

The company attributed lower profitability on account of new launches and marketing expenses which increased from Rs. 15.46 crore to Rs. 32.58 crore. During the quarter, the company launched 5 new channels i.e. Chandigarh with Punjabi and Bollywood contemporary music, Ahmedabad, Surat, Jaipur and Lucknow featuring only romantic songs.
It also saw its Independent & Non-executive Director Mr. B. S. Nagesh resigning due to personal commitments and other preoccupations.
Mahindra Lifespace – Part of US $ 17.8 billion Mahindra Group, a real estate development company engaged in the development of residential projects and integrated large format development in India. The company covers projects in 9 city clusters across the country.
Stewart Investors Global Emerging Markets Leaders Fund – which had its investor meeting and is one of the Key Investors as per the company’s latest presentation sold 217,998 shares or 0.53%
Vakrangee – Technology driven company providing real-time banking services, insurance services, e-governance services, e-commerce services & ATM services to the unserved rural, semi-urban and urban markets.
Credit Suisse (Singapore) which already holds 84 lakh shares or 1.59%, purchased an additional 38.32 lakh shares to bring its new holding to 122 lakh shares or 2.31%.
Vakrangee released its Q2 financials this week:

  • Revenue from Operations stood at Rs. 959.17 crore against Rs. 787.61 crore
  • Profit After Tax increased from Rs. 96.19 crore to Rs. 126.35 crore
  • EPS stood at Rs. 2.38 against Rs. 1.81 previously

Newtree Trading – a company headed by little known Sudam Kanu Kathe and Sunil Mohan Arya sold 43.60 lakh shares or 0.82%. While the current quarter holding is not known, the company held 121 lakh shares or 2.30% in the quarter ended June, 2016.
VA Tech Wabag – Provides solutions in the water treatment industry. Engaged in the design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.
Manulife Global Fund Asian Small Cap Equity Fund purchased 280,000 shares or 0.51%. Manulife contains a variety of low-, medium- and high-risk funds, for medium- to long-term investments. Portfolio holdings may include prime equities, fast-growing small or medium cap stocks, sovereign and corporate bonds based in the U.S., Europe, Asia, Japan, China and other emerging markets, covering a selection of countries, regions and industrial sectors.
VA Tech Wabag released its Q2 financials this week:

  • Revenue from Operations stood at Rs. 777.60 crore against Rs. 593.34 crore
  • Profit After Tax increased from Rs. 19.56 crore to Rs. 25.71 crore
  • EPS stood at Rs. 4.4 against Rs. 2.6 previously

The company attributed better execution which lead to increase in sales. It currently has an order book of Rs. 7,931 crore and has given a revenue guidance of Rs. 30 Bn with order intake at Rs.40 Bn.
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