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Microsoft To Release Series Of Low Cost Surface Tablets et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 16, 2018 1:07 PM 1 min read
Editorial

End of Day Wrap-up (Wednesday / May 16, 2018) #ITC #Godrej #RuchiSoya #NCLT #Microsoft #iPad #Apple #Essar #ArcelorMittal #RCom #RBI #IT #WhatsApp #Facebook #CambridgeAnalytica #Transfin

Editor's comment: ITC reports 9.9% yoy increase in net profits at INR2,933cr for Q4, above estimates. Gross revenues muted due to subdued demand and supply chain disruptions. Share price up 1.6% by close of play.

 

Godrej Agrovet keen to acquire oil palm business of Ruchi Soya, currently under bankruptcy proceedings with NCLT. Patanjali Ayurved is also a contender.   

 

Microsoft planning to release series of low cost Surface tablets to compete against the iPad in markets for cheaper devices. New devices to feature 10' screens and to be priced at c.$400.

 

Lenders to Essar Steel plan to name ArcelorMittal as top bidder after the latter agreed to clear outstanding dues to Uttam Galva and KSS Petron. The latest move is expected to make ArcelorMittal eligible as a resolution applicant as per IBC rules.

 

RCom bonds demonstrate largest decline in 7 months, coming to 58 cents on the dollar driven by NCLT accepting recovery petition from Ericsson to recover $170m in unpaid dues. 

 

RBI and IT Ministry raises concerns over WhatsApp's sharing of payments data with Facebook, potentially delaying a wider launch of service.