Daily Brief India: Authum Investment Infrastructure, Hindustan Zinc, P N Gadgil Jewellers, Samvardhana Motherson Automotive Systems Group BV and more

• Transformation of the company from Equity investment driven to Equity and stress business. 
• Complete restructuring of Reliance Capital and Reliance Home Finance into Authum and Focus on ARC and stressed assets.
• Recoveries in completely provided portfolios of Reliance Capital, Planned debt fundraise for further growth.

• Vedanta Ltd (VEDL IN) is looking to raise US$760m from selling some stake in Hindustan Zinc (HZ IN).
• Overall, while the deal would represent just 2.6% of the firm’s outstanding shares, the deal is a large one to digest at 41 days of the stock’s three month ADV.
• In this note, we take an early look at the deal, and comment on the deal dynamics.

• P N Gadgil Jewellers (1742652D IN) looking to raise up to US$132m in its upcoming India IPO.
• P N Gadgil Jewellers (PNGJ) is an Indian organized jewellery player. Its product offerings include traditional as well as modern and functional jewellery designs, in gold, diamond, silver and platinum.
• In this note, we look at the company’s historical performance.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Samvardhana Motherson International Ltd
• SK Hynix
• Vedanta Resources