Check out the companies which will be in focus during trade today based on recent and latest news developments.
Infosys: Infosys shareholders to offer 7.5m shares at Rs. 1,149.0-1,178.5 each in a block deal. Selling Shareholders include names like S Gopalakrishnan (5mm shares), S D Shibulal (1mm shares), Kumari Shibulal (1mm shares), and Shruti Shibulal (0.5mm shares).
Bajaj Auto: The Board of Directors of the Company has considered and declared an interim dividend at the rate of Rs.50/- per equity share of Rs. 10 each (i.e. 500 %), for the financial year ending March 31, 2016.
Reliance Infrastructure: The licensing committee of the Department of Industrial Policy & Promotion (DIPP) has approved 12 industrial licences for Reliance Defence, a subsidiary of Reliance Infrastructure, for the manufacture of wide range of defence equipment required by the Indian Armed Forces and overseas markets.
ONGC: Oil & Natural Gas Corporation Ltd has informed BSE that the Board of Directors of the Company has approved 2nd Interim Dividend of Rs. 0.75 per equity share of Rs. 5/- each, for the Financial Year 2015-16.
Banking stocks: Banking stocks would again be in focus, especially those who have lent to Vijay Mallya. The Supreme Court on Wednesday issued notice to Vijay Mallya, the business tycoon who owes Rs. 9,000 crore (including interest) to a consortium of 17 banks, and sought his reply within two weeks in response to a petition filed by the banks to block him from fleeing the country. However, latest reports suggest that Mallya has already left the country.
BHEL: Bharat Heavy Electricals Ltd has informed BSE that as part of review of rating, a communication has been received from CRISIL Ratings informing that BHEL's Long Term Rating for Bank Loan Facilities has been revised to CRISIL AA+/Negative (Downgraded from CRISIL AAA/Negative). The copy of CRISIL Rating is enclosed.
Essar Steel Ltd: Essar Steel which was to sell assets worth INR 11,200 crore by the end of March to retire its debt, will miss the deadline after the RBI issued a directive banning sale and leaseback of assets, reports a business daily.
Crompton Greaves Ltd: The company said it would sell its overseas power business to a US private equity fund for an enterprise value of €115 million ($126.1 million), to pay down debts and invest in faster growing Indian businesses.
Sharp India : Sharp India announced that Sharp Corporation Japan, who owns 75% of the equity share capital of the Company, has adopted a resolution at its meeting of the Board of Directors held on 25 February 2016 Sharp Corporation, Japan shall issue new shares (common shares and Class C Shares) through third-party allotment (the Capital Increase Through Third-Party Allotment), in which the allottees are Hon Hai Precision Industry Co. (Hon Hai Precision Industry"), Foxconn (Far East), a wholly-owned subsidiary of Hon Hai Precision Industry (Foxconn FE), Foxconn Technology(Foxconn Technology), and SIO International Holdings (SIO; together with Hon Hai Precision Industry, Foxconn FE, and Foxconn Technology, collectively the Planned Allottees").
Kotak Mahindra Bank Ltd: RBI has allowed overseas investors to buy stake in Kotak Mahindra Bank as foreign shareholding in the private bank has come below the prescribed limit.
Gammon India Ltd: The company has allotted 1.87 cr shares to 3 lenders at Rs 11.89 per equity share aggregating to Rs 22.26 crore to three CDR lenders on conversion of part of their outstanding loan and interest into equity shares.
Corporation Bank: Corporation Bank board has approved raising Rs. 1,000 crore capital in multiple tranches and with a green-shoe option.
Lupin: Lupin has completed its acquisition of privately held US based GAVIS Pharmaceuticals LLC and Novel Laboratories Inc. (GAVIS).
Concor: The Seventh CPSE disinvestment of the fiscal year 2015-16 took place today with the CONCOR (Non-Retail basket) OFS getting oversubscribed by 2 times.
Zydus Cadila: Zydus Cadila has received tentative nod from the US health regulator to market Clofarabine injection, used for treatment of cancer of the white blood cells, in the American market.
ICICI Bank: Moody's Investors Service has affirmed ICICI Bank Limited's local and foreign currency deposit ratings of Baa3/P-3.
Unichem Laboratories: Unichem Laboratories Limited has announced that it has received ANDA approval from the United States Food and Drug Administration (USFDA) for Quetiapine Fumarate Tablets.
Hindustan Unilever Ltd: Hindustan Unilever Ltd (HUL) on Wednesday said it has entered into a settlement with ex-employees, who were allegedly exposed to toxic mercury vapour at its former thermometer factory in Kodaikanal.
Tata Power: Tata Power Renewable Energy Limited , a 100% subsidiary of Tata Power, India’s largest integrated power company, has signed a SPA with Indo Rama Renewables Limited to acquire its 100% subsidiary, Indo Rama Renewables Jath Limited, (IRRJL) which owns a 30 MW wind farm in Sangli District of Maharashtra.a
Supreme Infrastructure India: The company has bagged EPC work of Rs. 75.72 crores from Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of six lane bridge on Ulhas Creek near Durgadi fort on Bhivandi-Kalyan-Adilabad Road (NH-222).
NIIT Technologies: The company has secured “Best Service Provider” award by DB Systel, the ICT subsidiary of Deutsche Bahn (German Railways).
Nucleus Software: The company released FinnAxia 3.0, the latest version of its next-generation integrated transaction banking product suite.
Infosys: Infosys shareholders to offer 7.5m shares at Rs. 1,149.0-1,178.5 each in a block deal. Selling Shareholders include names like S Gopalakrishnan (5mm shares), S D Shibulal (1mm shares), Kumari Shibulal (1mm shares), and Shruti Shibulal (0.5mm shares).Bajaj Auto: The Board of Directors of the Company has considered and declared an interim dividend at the rate of Rs.50/- per equity share of Rs. 10 each (i.e. 500 %), for the financial year ending March 31, 2016.
Reliance Infrastructure: The licensing committee of the Department of Industrial Policy & Promotion (DIPP) has approved 12 industrial licences for Reliance Defence, a subsidiary of Reliance Infrastructure, for the manufacture of wide range of defence equipment required by the Indian Armed Forces and overseas markets.
ONGC: Oil & Natural Gas Corporation Ltd has informed BSE that the Board of Directors of the Company has approved 2nd Interim Dividend of Rs. 0.75 per equity share of Rs. 5/- each, for the Financial Year 2015-16.
Banking stocks: Banking stocks would again be in focus, especially those who have lent to Vijay Mallya. The Supreme Court on Wednesday issued notice to Vijay Mallya, the business tycoon who owes Rs. 9,000 crore (including interest) to a consortium of 17 banks, and sought his reply within two weeks in response to a petition filed by the banks to block him from fleeing the country. However, latest reports suggest that Mallya has already left the country.
BHEL: Bharat Heavy Electricals Ltd has informed BSE that as part of review of rating, a communication has been received from CRISIL Ratings informing that BHEL's Long Term Rating for Bank Loan Facilities has been revised to CRISIL AA+/Negative (Downgraded from CRISIL AAA/Negative). The copy of CRISIL Rating is enclosed.
Essar Steel Ltd: Essar Steel which was to sell assets worth INR 11,200 crore by the end of March to retire its debt, will miss the deadline after the RBI issued a directive banning sale and leaseback of assets, reports a business daily.
Crompton Greaves Ltd: The company said it would sell its overseas power business to a US private equity fund for an enterprise value of €115 million ($126.1 million), to pay down debts and invest in faster growing Indian businesses.
Sharp India : Sharp India announced that Sharp Corporation Japan, who owns 75% of the equity share capital of the Company, has adopted a resolution at its meeting of the Board of Directors held on 25 February 2016 Sharp Corporation, Japan shall issue new shares (common shares and Class C Shares) through third-party allotment (the Capital Increase Through Third-Party Allotment), in which the allottees are Hon Hai Precision Industry Co. (Hon Hai Precision Industry"), Foxconn (Far East), a wholly-owned subsidiary of Hon Hai Precision Industry (Foxconn FE), Foxconn Technology(Foxconn Technology), and SIO International Holdings (SIO; together with Hon Hai Precision Industry, Foxconn FE, and Foxconn Technology, collectively the Planned Allottees").
Kotak Mahindra Bank Ltd: RBI has allowed overseas investors to buy stake in Kotak Mahindra Bank as foreign shareholding in the private bank has come below the prescribed limit.
Gammon India Ltd: The company has allotted 1.87 cr shares to 3 lenders at Rs 11.89 per equity share aggregating to Rs 22.26 crore to three CDR lenders on conversion of part of their outstanding loan and interest into equity shares.
Corporation Bank: Corporation Bank board has approved raising Rs. 1,000 crore capital in multiple tranches and with a green-shoe option.
Lupin: Lupin has completed its acquisition of privately held US based GAVIS Pharmaceuticals LLC and Novel Laboratories Inc. (GAVIS).
Concor: The Seventh CPSE disinvestment of the fiscal year 2015-16 took place today with the CONCOR (Non-Retail basket) OFS getting oversubscribed by 2 times.
Zydus Cadila: Zydus Cadila has received tentative nod from the US health regulator to market Clofarabine injection, used for treatment of cancer of the white blood cells, in the American market.
ICICI Bank: Moody's Investors Service has affirmed ICICI Bank Limited's local and foreign currency deposit ratings of Baa3/P-3.
Unichem Laboratories: Unichem Laboratories Limited has announced that it has received ANDA approval from the United States Food and Drug Administration (USFDA) for Quetiapine Fumarate Tablets.
Hindustan Unilever Ltd: Hindustan Unilever Ltd (HUL) on Wednesday said it has entered into a settlement with ex-employees, who were allegedly exposed to toxic mercury vapour at its former thermometer factory in Kodaikanal.
Tata Power: Tata Power Renewable Energy Limited , a 100% subsidiary of Tata Power, India’s largest integrated power company, has signed a SPA with Indo Rama Renewables Limited to acquire its 100% subsidiary, Indo Rama Renewables Jath Limited, (IRRJL) which owns a 30 MW wind farm in Sangli District of Maharashtra.a
Supreme Infrastructure India: The company has bagged EPC work of Rs. 75.72 crores from Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of six lane bridge on Ulhas Creek near Durgadi fort on Bhivandi-Kalyan-Adilabad Road (NH-222).
NIIT Technologies: The company has secured “Best Service Provider” award by DB Systel, the ICT subsidiary of Deutsche Bahn (German Railways).
Nucleus Software: The company released FinnAxia 3.0, the latest version of its next-generation integrated transaction banking product suite.
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