My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
UltraTech Cement, Jaiprakash Associates in spotlight after Jaypee Cement deal
Jul 05,2016

Shares of Ultra Tech Cement (UTCL) and Jaiprakash Associates (JAL) will be watched. The board of directors of JAL approved an amendment to the definitive agreement dated 31 March 2016 and also the draft scheme of arrangement with UTCL for sale of cement business of JAL and its wholly-owned subsidiary, Jaypee Cement Corporation (JCCL) comprising identified operating cement plants with an aggregate capacity of 17.20 MTPA spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh besides a grinding unit of 4 MTPA capacity which is currently under implementation in Uttar Pradesh. The total enterprise value now agreed is Rs 16189 crore. An additional amount of Rs 470 crore shall be paid by UTCL for completion of the grinding unit under implementation.

The transaction is subject to various regulatory approvals including the approval of stock exchanges, Competition Commission of India, financial institutions & banks, shareholders & creditors and sanction of the scheme of arrangement by High Courts at Mumbai and Allahabad. The consummation of transaction is expected to take 9 to 12 months.

On this occasion, Manoj Gaur, executive chairman, Jaypee Group said that the Jaypee Group is determined to reduce its overall debt through its proactive divestment initiatives to help the group tide these current turbulent times caused by economic slowdown in the country. He added that post this deal, Jaypee Group shall retain an aggregate cement manufacturing capacity of 10.60 MTPA with plants spread in the states of Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka. The group would continue to leverage expertise in the fields of engineering & construction, real estate and project execution in a committed manner.

Punjab & Sind Bank announced lending rates based on marginal cost of funds to be effective from 4 July 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.2%, for one month will be 9.3% and for three months will be 9.45%. The MCLR on 6-month loans will be 9.55% and for one-year loans the rate would be 9.6%, the bank said. The announcement was made after market hours yesterday, 4 July 2016.

IDBI Bank announced lending rates based on marginal cost of funds to be effective from 1 July 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.60%, for one month will be 9% and for three months will be 9.15%. The MCLR on 6-month loans will be 9.25% and for one-year loans the rate would be 9.30%, the bank said. MCLR for two-year loans would be at 9.55% and loans with three-year maturity would carry an MCLR of 9.70%, the bank said. The announcement was made after market hours yesterday, 4 July 2016.

IFCI said it sold 2.25 lakh shares in National Stock Exchange of India (NSE) at Rs 3,950 a share. IFCI has, however, put on hold selling its remaining 3.05% stake in NSE. The announcement was made after market hours yesterday, 4 July 2016.

Grasim Industries said that the operations have resumed at its staple fibre plant at Nagda in Madhya Pradesh in a phased manner with immediate effect. The company had suspended production at the plant since 5 June 2016 due to water shortage. However, with the onset of monsoon, the availability of water has improved. The announcement was made after market hours yesterday, 4 July 2016.

Diesel car makers like Mahindra & Mahindra and Tata Motors will be watched. The Supreme Court yesterday, 4 July 2016, reportedly reserved its order on the petition seeking modification in the apex court order banning registration of diesel vehicles of 2000 cc and above in the NCR. During the hearing, the centre told the apex court it is ready to conduct a multipronged study on diesel vehicles effect on environment and possibility of imposition of green cess. Asserting that it favoured removal of ban on registration of diesel vehicles above 2000 cc, the centre sought six weeks time for study and said that any cess should be decided by them. According to reports, the apex court on Friday, 1 July 2016, said that it might consider lifting the ban if a one-time environment compensation cess is introduced. The Supreme Court had on 16 December 2015 put a ban on diesel cars with cylinder displacement over 2000cc in Delhi NCR in a bid to curb pollution in the region. The major automobile manufacturers had moved the court to modify the order.

Fertiliser stocks will be in focus. The retail prices of non-urea fertilisers including Di-ammonium Phosphate (DAP) have been slashed by up to Rs 5,000 a tonne, Union Minister Ananth Kumar said in a press conference held yesterday, 4 July 2016. The state-run fertiliser firms Rashtriya Chemicals and Fertilizers (RCF) and National Fertilizers (NFL) have agreed to reduce the price of non-urea fertilisers, Kumar said. The retail price of DAP has been cut by Rs 2,500 a tonne, Muriate of Potash (MoP) by Rs 5,000 a tonne. For a bag of 50 kg, the effective rate for DAP would come down by Rs 125 and MoP by Rs 250. The rate cut, which would be effective immediately, would entail a benefit of Rs 4,500 crore to farmers, he said, adding the move would help promote balanced use of fertiliser.

Shares of Pokarna, Mold-Tek Technologies and Compuage Infocom will list on the National Stock Exchange of India (NSE) on 7 July 2016.

Bhushan Steel announced after market hours yesterday, 4 July 2016, that for the purpose of capacity addition from 4 million tons to 5 million tons per annum of hot strip mill of the company situated at Orissa, the company is taking shut down of said mill for about 20 days.

Techno Electric & Engineering Company said its board will meet on 14 July 2016, to consider issue of bonus shares. The announcement was made after market hours yesterday, 4 July 2016.

Powered by Capital Market - Live News

Select auto stocks in focus after monthly sales disclosures
Jul 04,2016

Hero MotoCorp said its motorcycle sales rose 1.32% to 5.49 lakh units in June 2016 over June 2015. The company said it reported sales growth of 6.07% to 17.45 lakh units in Q1 June 2016 over Q1 June 2015 in spite of subdued rural demand. The company said it will soon introduce Splendor iSmart 110 motorcycle in the market - the first motorcycle to have been completely developed by the in-house research and development (R&D) team at Hero MotoCorp. The company further added that with the implementation of the 7th Pay Commission and the forecast of the above-average monsoon, it is optimistic about a pick-up in sales momentum. The announcement was made after market hours on Friday, 1 July 2016.

Tata Motors said that its total passenger and commercial (including exports) rose 8% to 44,276 vehicles in June 2016 over June 2015. Domestic sales of Tata commercial and passenger vehicles rose 8% to 38,673 units in June 2016 over June 2015. Passenger vehicles sales in the domestic market grew 22% to 12,509 units in June 2016 over June 2015. Sales of passenger cars rose by 37% to 11,705 units in June 2016 over June 2015, as Tata Motors hatchback sales grew by over a 100% at 7,126 units in June 2016, due to strong demand for the recently launched Tiago.

Sales of Tata Motors Light Commercial Vehicles (LCVs) rose 14% to 16,017 units in June 2016 over June 2015. Medium & Heavy Commercial Vehicles (M&HCV) sales fell 11% to 10,147 units in June 2016 over June 2015. The overall commercial vehicles sales in the domestic market rose 2% to 26,164 units in June 2016 over June 2015. The companys sales from exports rose 11% to 5,603 units in June 2016 over June 2015. The announcement was made after market hours on Friday, 1 July 2016.

TVS Motor Company said its total sales rose 11% to 2.47 lakh units in June 2016 over June 2015. Total two-wheeler sales rose 13.8% to 2.39 lakh units in June 2016 over June 2015. Domestic two-wheeler sales rose 16.4% to 2.06 lakh units in June 2016 over June 2015. Scooter sales rose 10.3% to 67,539 lakh units in June 2016 over June 2015. Motorcycle sales rose 7.6% to 95,465 lakh units in June 2016 over June 2015. Three-wheeler sales fell 35.77% to 7,128 lakh units in June 2016 over June 2015. Total exports fell 9.09% to 39,112 lakh units in June 2016 over June 2015. Three-wheeler exports fell 0.18% to 33,173 lakh units in June 2016 over June 2015.

Coal India and its subsidiaries achieved 99% of targeted production at 42.72 million tonnes in June 2016. The company achieved 95% of targeted offtake at 44.96 million tonnes in June 2016. The announcement was made after market hours on Friday, 1 July 2016.

Shares of State Bank of India (SBI) and Reliance Industries (RIL) will be watched. SBI and RIL signed shareholders agreement on 30 June 2016 for setting up payments bank. The subscription and shareholders agreement was signed by RIL as promoter with a 70% equity contribution and SBI as joint venture partner with 30% equity contribution on 30 June 2016. All requisite regulatory and statutory approvals will now be sought for operationalizing the payments bank. The announcement was made after market hours on Friday, 1 July 2016.

Bosch announced after market hours on Friday, 1 July 2016, that its board has approved buyback of 8.78 lakh fully paid up equity shares, or 2.796% equity, of the company at Rs 23,000 per share. The buyback offer aggregates to Rs 2019.76 crore, representing 24.99% of the paid-up share capital and free reserves. The buyback is subject to approval of the shareholders through a postal ballot process. The board has noted the intention of Robert Bosch GmbH, promoter of the company, to participate in the buyback.

Adani Ports and Special Economic Zone (APSEZ) announced on Saturday, 2 July 2016, that its board has accorded an in-principle approval for exploring the acquisition of TM Harbour Services. TM Harbour Services is engaged solely in providing tug services to The Dhamra Port Company (DPCL), a wholly owned subsidiary of APSEZ. The acquisition will help the company provide effective and efficient marine services to DPCL. The acquisition is subject to due diligence, final negotiations between the parties and obtaining of requisite regulatory approvals.

Wockhardt said it has given corporate guarantee to secure term loan of $250 million facility availed by Wockhardt Bio AG, a subsidiary of the company. The announcement was made after market hours on Friday, 1 July 2016.

Indian Hotels Company said that Samsara Properties, the companys indirect overseas wholly-owned subsidiary, has sold 51.75 lakh class A common shares of the face value of $0.01 each of Belmond, representing 5.1% of the total outstanding class A common shares for a net consideration of $49.57 million. The sale proceeds are being utilized largely for retirement of debt. Post the above sale, Samsara Properties continues to hold 0.44% of the class A common shares of Belmond. The announcement was made after market hours on Friday, 1 July 2016.

Jaiprakash Associates announced on Saturday, 2 June 2016, that the joint lenders forum meeting held to review the progress made so far on the corrective action plan, approved by the lenders in January 2015, has agreed for invocation of strategic debt restructuring (SDR) taking 28 June 2016 as reference date, subject to approval of lenders. Further, the company has informed that a meeting of the board of directors of the company is scheduled on 4 July 2016, to review the progress of the divestment plans and other related matters.

Jubilant Industries said that considering the unfavourable market conditions, the management of the companys material unlisted subsidiary, Jubilant Agri and Consumer Products, has decided to temporarily discontinue the operations of its manufacturing facility located at Rajasthan with immediate effect till further intimation. The facility was engaged in the production of single super phosphate.

The revenue contributed by this manufacturing facility for the financial year ended 31 March 2016 was Rs 4.01 crore and its networth as on 31 March 2016 was Rs 50.43 crore, constituting 0.66% of the companys consolidated revenue and 22.22% of the companys consolidated net worth. The announcement was made after market hours on Friday, 1 July 2016.

Camlin Fine Sciences said that the qualified institutional placement (QIP) committee of the company has approved the closure of the QIP on 1 July 2016. The committee approved the issue price of Rs 85.40 per share, which is at a discount of Rs 4.49 per share, to the floor price of Rs 89.89 per share, for the equity shares to be allotted to eligible qualified institutional buyers pursuant to the QIP issue. The announcement was made after market hours on Friday, 1 July 2016.

Mahanagar Telephone Nigam (MTNL) said it has received income tax refund worth Rs 112.95 crore for the assessment year 2000-2001. The amount includes Rs 52.35 crore towards interest on refund. The announcement was made after market hours on Friday, 1 July 2016.

Snowman Logistics clarified after market hours on Friday, 1 July 2016, that investment in its proposed project at Krishnapatnam be approximately Rs 17 crore, which will be financed through internal accruals.

Earlier on 22 June 2016, the company had informed that it was setting up a new facility at the Gateway Distriparks Logistics Park in Krishnapatnam which will have a capacity of 3,500 pallets of temperature controlled and dry warehousing. This facility can be further scaled up to 10,000 pallets in a phased manner within the next two years. The location is 7 kms from Krishnapatnam port, which currently services the requirements of Southern and Central Andhra Pradesh such as the newly developed Sri City industrial region, Eastern Karnataka, Northern Tamil Nadu and Eastern Maharashtra. The facility is scheduled to become operational by March 2017 and will cater to the EXIM trade including sea-food, meat, dairy products, pharmaceutical products, fruits and fruit pulp, the company added.

Powered by Capital Market - Live News

Mahanagar Gas in focus on debut
Jul 01,2016

Shares of Mahanagar Gas will debut on the bourses today, 1 July 2016. The initial public offer (IPO) of city gas distribution firm Mahanagar Gas received bids for a total of 111.95 crore shares and its IPO was subscribed 64.55 times. The shares were allotted to the investors at Rs 421 per share, the top end of the Rs 380 to Rs 421 per share price band for the IPO. The IPO had opened for bidding on 21 June 2016 and closed on 23 June 2016.

Auto stocks will be in focus as these companies announce monthly sales volume data for June 2016.

Maruti Suzuki India (MSIL) announced after market hours yesterday, 30 June 2016, that it signed a memorandum of understanding (MoU)) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at Venkatachalam village in Darsi, Prakasham district of the state.

The infrastructure spread across 20 acres of land will be provided by the Andhra Pradesh Government, while Maruti Suzuki will run and manage the institute. The facility to be built as per the MoRTH guidelines shall consist of an institute building, a hostel and training tracks will all required formation. The infrastructure is expected to be complete by 2018.Set up under the public-private-partnership (PPP) model, this will be Maruti Suzukis first IDTR in South India. Maruti Suzuki will undertake the training on lines of the other IDTRs including All Gujarat Institute of Driving, Technical Training and Research (AGIDTTR), Vadodara. The Company plans to collaborate with the various government departments like Tribal Development Department to promote road safety and driving as an employment opportunity among the tribal youth of Andhra Pradesh. The main focus is to make people employable hence additional training in personality, hygiene, courtesy and communication is imparted to the youth.

Boschs board of directors meet today, 1 July 2016, to consider a proposal for buyback of the companys equity shares.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a decrease in petrol and diesel prices. Indian Oil Corporation (IOCL) yesterday, 30 June 2016, announced a decrease in the price of petrol and diesel with effect from the midnight of 30 June/1 July 2016. Petrol price was decreased by Rs 0.89 per litre and diesel price was decreased by Rs 0.49 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 64.76 per litre and diesel costs Rs 54.70 a litre.

Aviaition stocks will be in focus as aviation turbine fuel (ATF) prices were hiked by 5.47% to 49,287.18 per kiloliter in Delhi for domestic airlines from midnight of 30 June 2016 and 1 July 2016, IOCL said

Godrej Properties will be in focus. The company had earlier anounced about creation of Godrej Fund Management and its managed fund Godrej Residential Investment Program II (GRIP-II). The company announced after market hours yesterday, 30 June 2016, that GRIP II has made its first investment under the platform, whereby it has acquired 80% of the equity share capital in Godrej Greenview Housing (GGHPL), towards investing into the project Vihang, Thane. Pursuant to the above, GGHPL has ceased to be the subsidiary of Godrej Properties.

Powered by Capital Market - Live News

Coal India in focus after signing agreement with Solar Energy Corporation
Jun 30,2016

Coal India announced signing two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh. Coal India and Solar Energy Corporation of India (SECI) signed two agreements yesterday, 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) 100 and South Eastern Coalfields (SECL) at an estimated cost of Rs 650 crore. NCL and SECL are subsidiaries of Coal India. The announcement was made after market hours yesterday, 29 June 2016.

Metal and mining stocks will be in focus after the Union Cabinet yesterday, 29 June 2016, approved the National Mineral Exploration Policy (NMEP). The NMEP primarily aims at accelerating the exploration activity in the country through enhanced participation of the private sector.

Minda Industries board of directors considered and approved a 2-for-1 stock split and the acquisition of Panasonic Minda Storage Batteries India. The announcement was made after market hours yesterday, 29 June 2016.

Majesco and iSign Solutions Inc. (iSIGN) announced that iSIGN has joined Majescos partner ecosystem. Through this strategic partnership, Majesco will use iSIGNs electronic signature solution to deliver Majescos solutions to its insurance customers enhancing their digital footprint. The announcement was made after market hours yesterday, 29 June 2016.

LT Foods said that the company has incorporated a subsidiary named as LT Foods International in United Kingdom for strengthening its presence in Europe. Further, the company is evaluating the option to set up a facility in Europe to more effectively service customers in International markets. The announcement was made after market hours yesterday, 29 June 2016.

Gati Kausar, the temperature controlled supply chain solutions vertical of Gati, announced the launch of its first temperature controlled warehousing facility near Delhi, on National Highway 8. It is a state-of-the-art facility developed with superior technology and high quality design elements. The new facility is spread over 4 acres, and currently has a capacity of more than 5000 pallets. The announcement was made after market hours yesterday, 29 June 2016.

Sagar Cements said that the companys board of directors gave its in principle approval for acquisition of entire assets in the grinding unit of 1.81 lakh tons per annum capacity in Bayyavaram, Andhra Pradesh, owned by Toshali Cements for around Rs 60 crore. The acquisition will enable Sagar Cements to save its logistics cost and to introduce slag cement to cater markets in Visakhapatnam, Vizianagaram, Srikakulam and parts of Orissa.

Powered by Capital Market - Live News

Bosch in focus as board to consider share buyback
Jun 29,2016

Bosch said that a meeting of the board of directors of the company will be held on 1 July 2016, to consider a proposal for buyback of the companys equity shares. The announcement was made after market hours yesterday, 28 June 2016.

Shares of HDFC Bank turn ex-dividend today, 29 June 2016 for dividend of Rs 9.50 per share for the year ended 31 March 2016.

L&T announced before market hours today, 29 June 2016 that the Red Herring Prospectus filed by the companys subsidiary L&T Infotech with the Registrar of Companies, Maharashtra, for an offer for sale (OFS) of shares by L&T has been approved on 28 June 2016. The offer of L&T Infotech will open for subscription on 11 July 2016 and close on 13 July 2016.

Dabur India turns ex-dividend today, 29 June 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

Havells India turns ex-dividend today, 29 June 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Kesar Terminals & Infrastructure said that a meeting of the board of directors of the company will be held on 1 July 2016, inter alia, to consider sub-division of equity shares of the company. The announcement was made after market hours yesterday, 28 June 2016.

Indo Borax & Chemicals said that the company will restart production activity from Pithampur plant from 29 June 2016, with an alternative arrangement of water supply. The announcement was made after market hours yesterday, 28 June 2016.

Great Eastern Shipping Company announced after market hours yesterday, 28 June 2016, that it has bought back and extinguished 100 secured and 550 unsecured debentures of Rs 10 lakh each, aggregating to Rs 65 crore.

Powered by Capital Market - Live News

Interest rate sensitive stocks in focus as finance ministry announces initiating process to constitute MPC
Jun 28,2016

Interest rate sensitive banking, automobile and real estate stocks will be in focus after the finance ministry announced that it has initiated the process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934. Out of the six members of MPC, three members will be from the Reserve Bank of India (RBI), including the RBI Governor, who will be the ex-officio Chairperson of the MPC, the Deputy Governor, RBI and one officer of RBI. The other three members of MPC will be appointed by the central government on the recommendations of a Search-cum-Selection Committee, which will be headed by the Cabinet Secretary. These three members of MPC will be experts in the field of economics or banking or finance or monetary policy and will be appointed for a period of 4 years and will not be eligible for re-appointment. The meetings of the MPC will be held at least 4 times a year and the MPC will publicise its decisions after each meeting. A committee-based approach will add a lot of value and transparency to monetary policy decisions, the finance ministry said in a statement issued after trading hours yesterday, 27 June 2016.

Siemens announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India (PGCIL). The scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations of PGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. The announcement was made after market hours yesterday, 27 June 2016.

Bharti Infratel said that the companys proposed buyback of 4.70 crore shares at Rs 425 per share under tender offer route would commence on 12 July 2016 and close on 25 July 2016. The announcement was made before market hours today, 28 June 2016.

Shares of Tata Communications will be in focus. Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, today, 28 June 2016 announced that it has entered into an agreement to acquire South African communications network operator Neotel. The shareholders of Neotel - Tata Communications of India and minority shareholders led by Nexus Connexion - have agreed for Liquid Telecom to acquire Neotel for ZAR6.55 billion. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel. The transaction, which is subject to obtaining all affirmative approvals and other corporate approvals that may be required by the shareholders of Neotel and other regulatory approvals, is transformative and will create the largest pan-African broadband network and B2B telecoms provider. The announcement was made before market hours today, 28 June 2016.

Indiabulls Housing Finance said that the company proposes to issue 6250 Secured Non-Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating to Rs 625 crore (plus greenshoe option), on private placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on 7 September 2015, on the terms and conditions. The announcement was made before market hours today, 28 June 2016.

Powered by Capital Market - Live News

Bharti Airtel in focus after extending further merger agreement with Axiata
Jun 27,2016

Bharti Airtel said that the company and Axiata Group Berhad (Axiata), have on Friday, 24 June 2016 agreed to further extend an earlier agreement until 26 September 2016 or such other date as the parties may agree. The announcement was made after market hours on Friday, 24 June 2016.

It may be recalled that Bharti Airtel and Axiata Group Berhad had on 28 January 2016 signed a definitive agreement to merge their respective telecommunication subsidiaries in Bangladesh; namely, Airtel Bangladesh (Airtel) and Robi Axiata (Robi). The agreement follows the 9 September 2015 announcement of both parties entering into an exclusive discussion to explore possibility of combining the business operations in Bangladesh.

Post-merger, the combined entity operating as Robi will serve approximately 4 crore customers. The joint strengths of Robi and Airtel will deliver the widest mobile network coverage across Bangladesh, strengthening its position in the mobile internet segment as well as consolidating its position as the second largest operator in the country, Airtel and Axiata said in a joint press release on 28 January 2016. The proposed transaction is subject to conditions precedent including receiving applicable approvals from relevant authorities and is expected to complete in the first half of 2016, the two companies had said. Upon completion, Axiata will hold 68.3% controlling stake in the combined entity, while Bharti will hold 25%. The remaining 6.7% will be held by the existing shareholder, NTT DOCOMO of Japan, they added.

Bajaj Finserv is reportedly likely to buy out its German partner Allianz SEs stakes in two insurance units Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance in a deal estimated at as much as Rs 10000 crore. Bajaj Finserv, the financial services arm of Bajaj Holdings and Investments, owns 74% and Allianz SE holds 26% in both the ventures, as per reports.

Aban Offshore said that its step down subsidiary has received a firm letter of award from ONGC for the deployment of the drillship Aban Abraham for a firm period of 2 years. The expected revenues from this deployment is estimated at $87 million (equivalent to Rs 592 crore). The deployment is expected to commence during the fourth quarter of calendar year 2016. The announcement was made after market hours on Friday, 24 June 2016.

Tata Sponge Iron said that the company is in receipt of Letter of Intent (LOI) from Eastern Coalfields (a subsidiary of Coal India) declaring the company as a successful bidder for award of 24,000 tonne per annum of coal at a notified price (winning premium is zero). The notified price shall be reviewed by Coal India on a half yearly basis. As per the LOI, the company would be required to execute the fuel supply agreement, valid for a period of five years from the date of execution of the agreement and is further extendable for another five years. The agreement shall have a lock-in period of two years. The tonnage will constitute less than 10% of the companys annual coal requirement. The announcement was made after market hours on Friday, 24 June 2016.

Indian Overseas Bank said that the credit rating agency ICRA has revised its ratings for upper tier -II and Basel II compliant perpetual bond issues. The revision in the ratings assigned to the bonds is due to continued deterioration in asset quality indicators over the recent past, which adversely impacted the solvency and capitalisation profile of the bank. The announcement was made after market hours on Friday, 24 June 2016.

Patel Engineering said that a meeting of the board of directors of the company will be held on 29 June 2016, to consider and approve conversion of debt into equity pursuant to strategic debt restructuring scheme devised by the Reserve Bank of India {the RBI). The announcement was made after market hours on Friday, 24 June 2016.

Zuari Agro Chemicals said that the company has availed an unsecured inter corporate deposit (ICD) of Rs 100 crore from Adventz Finance, a promoter of the company, for a period of 12 months. The announcement was made after market hours on Friday, 24 June 2016.

Powered by Capital Market - Live News

Sun Pharma may gain after announcing buyback of shares
Jun 24,2016

Sun Pharmaceutical Industries announced after market hours yesterday, 23 June 2016, that its board approved buyback of the companys equity shares. The company will buyback 75 lakh shares from the public at a price of Rs 900 each. The buyback price is 19.73% above the companys last traded price of Rs.751.70 on the BSE. The company said that the buyback aims to return surplus funds to shareholders and enhance overall returns for them. The record date for the buyback is 15 July 2016. Under Securities and Exchange Board of India (Sebi) guidelines, 15% of the buyback offer is reserved for small investors holding shares worth not more than Rs 2 lakh as on the record date.

State Bank of India (SBI) announced after market hours yesterday, 23 June 2016, that a meeting of the executive committee of the central board of the bank is scheduled to be held on 29 June 2016 at Mumbai. The committee will examine the status and decide on long term fund raising in single/multiple tranches up to $1500 million through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the financial year 2016-2017.

Sector specific action could be witnessed after early results of Brexit referendum showed that the Britain is on its course to leave the European Union. IT, auto and steel sector could witness selling pressure as they derive good amount of revenue from the European Union.

Glenmark Pharmaceuticals announced before market hours today, 24 June 2016 that it has received tentative ANDA approval from the USFDA for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg.

Separately, Glenmark Pharmaceuticals announced it has received ANDA approval from the USFDA for Nystatin and Triamcinolone Acetonide Ointment USP, 100,000 units/1 mg per gram.

Omax Autos said that railway division of the company has secured order for supply of railway parts from Indian Railways for order value estimated between Rs 90-100 crore. Formal purchase order would be received by the company in due course of time, Omax Autos said. The announcement was made after market hours yesterday, 23 June 2016.

Ruchira Papers said that the credit rating of the company has been upgraded from CARE BBB- (TRIPLE B -) to CARE BBB (TRIPLE B) assigned to Long term facilities and CARE BBB/CARE A3+(TRIPLE B/ A THREE PLUS) assigned to short term facilities of the company. The announcement wasmade after market hours yesterday, 23 June 2016.

Shilpa Medicare said that a meeting of the board of directors of the company will be held on 27 June 2016, to consider a proposal of merger of Navya Boilogicals with the company. Navya Biologicals (NBPL) is a company incorporated under the Companies Act, is engaged on research and development activities in the field of biologicals. NBPL has specifically been in the development of bio-similars and product process technologies. The announcement was made after market hours yesterday, 23 June 2016.

Powered by Capital Market - Live News

Bharti Airtel may gain after Orange completes acquisition of its operations in Burkina Faso
Jun 23,2016

Bharti Airtel announced before market hours today, 23 June 2016 that Orange has completed the acquisition of 100% of the operations of Airtel in Burkina Faso via its subsidiaries. The company shall update the exchange regarding the process for Sierra Leone as and when it is completed.

Lupin announced at the fag end of trading session yesterday, 22 June 2016 that it has received final approval for its Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1mg/0.5 mg) from the United States Food and Drug Administration (FDA) to market a generic version of Amneal Pharmaceuticals Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/ 0.5 mg).

Lupins Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5mg) are the AB rated generic equivalent of Amneal Pharmaceuticals Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5 mg). Amabelz Tablets 0.5 mg / 0.1 mg and 1 mg / 0.5 mg are indicated in a woman with a uterus for treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Amabelz Tablets 1 mg/0.5 mg is also indicated in a woman with a uterus for treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. Activella had annual US sales of $95.6 million as per IMS MAT March 2016.

GAIL (India) announced after market hours yesterday, 22 June 2016 that it has placed orders for purchase of 341 kilometers (km) of Line Pipes for the Phulpur Haldia/Dhamra Natural Gas Pipeline on four companies at a total cost of Rs 550 crore.

The pipeline will serve as the Energy Highway (Urja Ganga) of Eastern India and its construction work was inaugurated by Prime Minister Shri Narendra Modi. The Line Pipes for which the orders have been placed will be used in the Phulpur (Uttar Pradesh)-Dobhi (Bihar) section of the Pipeline and will be procured from Jindal Saw Limited, MAN Industries (India) Limited, Essar Steel India Limited and Zhongyou BSS (Qinhuangdao) Petropipe Co. Ltd, China.

The 1,681 km Phulpur Haldia/Dhamra Pipeline will be completed in three phases at a cost of Rs 12000 crore and cover eastern Uttar Pradesh, Bihar, Jharkhand, Orissa and West Bengal. The first phase at a project cost of Rs 3200 crore and will cover 755 km and include Phulpur Mani, Mani Gorakhpur, Mani Varanasi, Mani Dobhi, Dobhi - Silao, Silao Patna and Silao Barauni sections. Pipeline laying works for Spurlines from Gaya Barauni Patna in Bihar are already in progress. Subsequent phases of the 16 MMSCMD Pipeline will cover major cities including Gorakhpur, Varanasi, Patna, Barauni, Bokaro, Ranchi, Rourkela, Paradip, Bhubaneshwar, Cuttack, Durgapur, Kolkata and Jamshedpur and nearby areas through 30/24 Mainline and Spurlines.

NTPC announced after market hours yesterday, 22 June 2016 that in accordance with the approval accorded by Cabinet Committee on Economic Affairs on 13 May 2015, Government of India (GOI) has offered 2.06 crore shares to the eligible employees of NTPC at discounted price of Rs 115.90 per share i.e. 5% discount to the cut off price of Rs 122 discovered through the offer for sale of shares of NTPC carried out by GOI on 23 February 2016 & 24 February 2016. In connection with the above, action has been initiated by the company for sale of equity shares to the eligible employees by the GOI. The offer for sale of share shall remain open tentatively from 27 June 2016 to 5 July 2016.

IndusInd Bank turns ex-dividend today, 23 June 2016 for dividend of Rs 4.50 per share for the year ended 31 March 2016 (FY 2016).

Textile stocks will be in focus. The Union Cabinet under the Chairmanship of Prime Minister Narendra Modi has given approval yesterday, 22 June 2016 for a special package for employment generation and promotion of exports in textile and apparel sector. The move comes in the backdrop of the package of reforms announced by the Government for generation of one crore jobs in the textile and apparel industry over next 3 years. The package includes a slew of measures which are labour friendly and would promote employment generation, economies of scale and boost exports. The steps will lead to a cumulative increase of $30 billion in exports and investment of Rs 74000 crore over next 3 years.

The majority of new jobs are likely to go to women since the garment industry employs nearly 70% women workforce. Thus, the package would help in social transformation through women empowerment.

Under the package, reforms were announced in employee provident fund scheme. Government of India shall bear the entire 12% of the employers contribution of the employers provident fund scheme for new employees of garment industry for first 3 years who are earning less than Rs 15,000 per month. At present, 8.33% of employers contribution is already being provided by Government under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY). Ministry of Textiles shall provide additional 3.67% of the employers contribution amounting to Rs 1170 crore over next 3 years. EPF shall be made optional for employees earning less than Rs 15,000 per month This shall leave more money in the hands of the workers and also promote employment in the formal sector.

The government has also increased cap on overtime. This shall lead to increased earnings for the workers. Overtime hours for workers not to exceed 8 hours per week in line with ILO norms. The government has also introduced fixed term employment. Looking to the seasonal nature of the industry, fixed term employment shall be introduced for the garment sector. A fixed term workman will be considered at par with permanent workman in terms of working hours, wages, allowances and other statutory dues. The package also breaks new ground in moving from input to outcome based incentives by increasing subsidy under Amended-Technology Upgradation Fund Scheme (TUFS) from 15% to 25% for the garment sector as a boost to employment generation. A unique feature of the scheme will be to disburse the subsidy only after the expected jobs are created. Additionally, in a first of its kind move, a new scheme will be introduced to refund the state levies which were not refunded so far. This move is expected to cost the exchequer Rs 5500 crore but will greatly boost the competitiveness of Indian exports in foreign markets. Drawback at All Industries Rate to be given for domestic duty paid inputs even when fabrics are imported under Advance Authorization Scheme. Further, looking at the seasonal nature of garment industry, the provision of 240 days under Section 80JJAA of Income Tax Act would be relaxed to 150 days for garment industry.

Golden Tobacco announced after market hours yesterday, 22 June 2016 that the company has received a demand notice from office of the Tax Recovery Officer, Aayakar Bhavan, Mumbai vide letter dated 15 June 2016 for recovery of principal amount.

KEC International announced after market hours yesterday, 22 June 2016 that it has won new orders of Rs 1036 crore.

Powered by Capital Market - Live News

Tech Mahindra may gain after acquiring UK based company
Jun 22,2016

Tech Mahindra announced before market hours today, 22 June 2016 that the Investment Committee of Board of Directors of the company on 21 June 2016 approved the proposal to acquire 100% stake in The Bio Agency Limited, a UK based entity. The company is acquired for the enterprise value of GBP 40 million plus surplus cash not exceeding GBP 5 million as at the completion date. The payment of GBP 22 million and the surplus cash will be made upfront and the balance is deferred payments based on company performance. The closing of the transaction is expected to take place in the first week of July 2016. BIO, UK specializes in digital transformation and innovation, helping organizations change the way they engage with customers. It has revenues of GDP 12.5 million for the year ended 30 April 2016. The acquisition brings forth the synergy that will open up more clients for BIO globally, especially in US and Europe, scaling their offering geographically and enabling new services and deeper digital change.

Hindustan Unilever (HUL) turns ex-dividend today, 22 June 2016 for final dividend of Rs 9.50 per share for the year ended 31 March 2016 (FY 2016).

Majesco announced after market hours yesterday, 21 June 2016 a partnership with eGain, a global provider of cloud customer engagement solutions. As part of the alliance, Majesco will embed eGains knowledge-guided digital engagement capabilities into its insurance industry solution. The companies will also team together on joint business opportunities in engaging and serving clients.

Jindal Steel & Power announced after market hours yesterday, 21 June 2016 that the Board of Directors of the company at its meeting held on 21 June 2016, inter alia, approved issuance of non-convertible debentures upto Rs 5000 crore and also approved Issuance of further securities upto Rs 5000 crore.

Kwality announced after market hours yesterday, 21 June 2016 that a meeting of the Board of Directors of the company will be held on 24 June 2016, inter alia, to raise funds upto Rs 300 crore by way of term loan and issue of non-convertible debentures.

Sharon Bio-Medicine announced after market hours yesterday, 21 June 2016 that the Board of Directors of the company at its meeting held on 21 June 2016, has discussed the current financial position of the company and decided to introduce more profitable products increase capacity utilization and get the business to move in the regulated markets specifically the United States of America.

Shrenuj & Company announced after market hours yesterday, 21 June 2016 that as a part of strategy, the company has undertaken an exercise to rationalise its manpower across all levels. As a result, some of employees have started tendering their resignations. The company is putting its every effort to retain the best talent in the organisation. Alternative strategies are being considered to overcome the current challenges.

Shares of Max Ventures and Industries will be listed on the bourses today, 22 June 2016 pursuant to the scheme of arrangement. Pursuant to the scheme of arrangement, 1 share of Max Ventures and Industries earlier known as Capricorn Ventures was issued and allotted for every 5 shares of Max Financial Services earlier known as Max India Limited. Erstwhile Max India had earlier this year announced its demerger into three listed companies Max Financial Services, Max India and Max Ventures & Industries. The third holding company, Max Ventures & Industries (MVIL) will manage the investment in the manufacturing subsidiary, Max Speciality Films, which is an innovation leader in the Speciality Packaging Films business. It will also evaluate new ideas in the wider world of business, including but not limited to sectors such as real estate, education and technology.

Powered by Capital Market - Live News

Banks stocks in focus as interest rate on small saving schemes unchanged
Jun 21,2016

Bank stocks will be in focus after the finance ministry in its quarterly revision on interest rates on small savings schemes kept the rates unchanged for Q2 September 2016. The government now announces revision in interest rates on small saving schemes on quarterly basis as against the earlier practice of annual revision. The decision to shift to quarterly revision from annual revision was taken to ensure that interest rates under small savings schemes are more dynamically related to the prevailing market rates. It may be recalled that the finance ministry had in March 2016 announced reduction in interest rates on small savings schemes for Q1 June 2016 in a move to bring the rates in line with the prevailing money market rates.

Cera Sanitaryware announced after market hours yesterday, 20 June 2016, that Anjali Tiles, a subsidiary company, allotted 15.30 lakh, 1% cumulative redeemable preference shares of Rs 10/- each to the company.

Apollo Hospitals Enterprise announced after market hours yesterday, 20 June 2016, that it signed Memorandum of Understanding (MoU) with Chinas Hainan Ecological Smart City Group (HESCG) to build a hospital in Hainan Province, China. HESCG is a Chinese industrial park development and operations company. The MoU is also aimed at expanding to other parts of China and also extend into India with suitable model of collaboration which will be discussed post the signing of the MoU.

HESCG will provide land, all the investments for the construction, commissioning and equipping the hospital besides all operative expenses, while Apollo Hospitals Group would provide its services for technical consulting, planning and commissioning of the hospital and post completion of the hospital, provide services for the operations and management of the hospital. Apollo Hospitals would also support in building the technical and management personnel, install its acclaimed patient care clinical protocols and practices, the company said in a statement.

Quick Heal Technologies announced after market hours yesterday, 20 June 2016, that it launched Seqrite Services to offer cyber security consulting and Quick Heal Academy to impart cyber security education programs, globally.

Kesar Terminals & Infrastructure announced after market hours yesterday, 20 June 2016, that its board of directors will meet on 24 June 2016, to consider issuing bonus shares.

Indiabulls Housing Finance announced after market hours yesterday, 20 June 2016 that the company proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore plus Greenshoe Option on private placement basis.

Separately, Indiabulls Housing Finance said that it has on 20 June 2016, allotted secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 20 crore on private placement basis.

Powered by Capital Market - Live News

Bank stocks in focus as interest rate on small saving schemes unchanged
Jun 21,2016

Bank stocks will be in focus after the finance ministry in its quarterly revision on interest rates on small savings schemes kept the rates unchanged for Q2 September 2016. The government now announces revision in interest rates on small saving schemes on quarterly basis as against the earlier practice of annual revision. The decision to shift to quarterly revision from annual revision was taken to ensure that interest rates under small savings schemes are more dynamically related to the prevailing market rates. It may be recalled that the finance ministry had in March 2016 announced reduction in interest rates on small savings schemes for Q1 June 2016 in a move to bring the rates in line with the prevailing money market rates.

Cera Sanitaryware announced after market hours yesterday, 20 June 2016, that Anjali Tiles, a subsidiary company, allotted 15.30 lakh, 1% cumulative redeemable preference shares of Rs 10 each to the company.

Apollo Hospitals Enterprise announced after market hours yesterday, 20 June 2016, that it signed Memorandum of Understanding (MoU) with Chinas Hainan Ecological Smart City Group (HESCG) to build a hospital in Hainan Province, China. HESCG is a Chinese industrial park development and operations company. The MoU is also aimed at expanding to other parts of China and also extend into India with suitable model of collaboration which will be discussed post the signing of the MoU.

HESCG will provide land, all the investments for the construction, commissioning and equipping the hospital besides all operative expenses, while Apollo Hospitals Group would provide its services for technical consulting, planning and commissioning of the hospital and post completion of the hospital, provide services for the operations and management of the hospital. Apollo Hospitals would also support in building the technical and management personnel, install its acclaimed patient care clinical protocols and practices, the company said in a statement.

Quick Heal Technologies announced after market hours yesterday, 20 June 2016, that it launched Seqrite Services to offer cyber security consulting and Quick Heal Academy to impart cyber security education programs, globally.

Kesar Terminals & Infrastructure announced after market hours yesterday, 20 June 2016, that its board of directors will meet on 24 June 2016, to consider issuing bonus shares.

Indiabulls Housing Finance announced after market hours yesterday, 20 June 2016 that the company proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore plus Greenshoe Option on private placement basis.

Separately, Indiabulls Housing Finance said that it has on 20 June 2016, allotted secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 20 crore on private placement basis.

FM radio broadcasters will be in focus. Ministry of Information and Broadcasting, Government of India yesterday, 20 June 2016 issued the Notice Inviting Applications (NIA) for e-auction of 266 FM Radio channels in 92 cities in the second batch of Private FM Phase III. The second batch consists of 227 channels in 69 new cities besides 39 channels in 23 existing cities. Out of 69 new cities taken up for auction in the second batch, 20 cities with 80 channels are having population of 3-10 lakh , 38 cities with 114 channels are having population of 1-3 lakh whereas 11 cities in border areas of Jammu & Kashmir and North Eastern states with population upto one lakh having 33 channels have also been included.

The issuance of NIA for the second batch under Private FM Phase III will further the process of expansion of FM Radio broadcasting services through private agencies (Phase-III) that began with the notification of FM Phase III Policy guidelines dated 25 July2011, read with its modified paragraph 31 dated 21 January 2015, and moved forward with the e-auction of the first batch of FM Phase III. E-auction of first batch, which commenced on 27 July 2015 and got over on 9 September 2015 resulting in selling of 91 channels in 54 cities. It also paved the way for migration (renewal) of 181 Phase II licenses to Phase III.

Amongst the 266 channels on offer, special incentives are being provided to 36 channels in 14 cities in J&K and North Eastern states. By this, the FM Phase III policy exudes the Governments thrust for concerted development of the North Eastern states and J&K. It provides much needed support to the FM radio broadcasting services in cities of North Eastern part of India as in the cities of Jammu & Kashmir and Island territories, with provision of annual fee of the channels in these areas at half the rates for first three years, besides provision of Prasar Bharati Infrastructure at half the lease rentals.

Powered by Capital Market - Live News

BPCL, IOC and Oil India may gain after their consortium acquires stake in Russian oil & gas field
Jun 20,2016

BPCL said on Saturday, 18 June 2016 that Bharat PetroResources (BPRL), a 100% subsidiary of BPCL, and its exploration and production arm, along with Oil India and Indian Oil Corporation (IOCL), acting jointly as the Indian consortium, signed definitive agreements to acquire, through a joint venture company formed by their wholly owned subsidiaries in Singapore, upto 23.9% shares of the charter capital of JSC Vankorneft, a company organised under the laws of the Russian Federation, which is the owner of Vankor and North Vankor Field licenses, from Rosneft Oil Company (Rosneft), a National Oil Company of Russia. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by September 2016.

Rosneft Oil Company holds about 85% shares while ONGC Videsh (through its subsidiary) holds about 15% shares in JSC Vankorneft. Vankor field, located in East Siberia is Russias second largest field by production and accounts for around 4% of Russian production. In 2015, the Vankor field produced 22 million tons of oil and 8.71 BCM of gas.

Axis Bank said after market hours on Friday, 17 June 2016 that it has kept its lending rates based on marginal cost of funds unchanged effective from 18 ?June 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%. The MCLR on 6-month loans will be 9.3% and for one-year loans the rate will be 9.35%, the bank said. MCLR on two-year loans will be 9.45% and for three-year loans the rate will be 9.5%.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

Coal India said after market hours on Friday, 17 June 2016 that the board of directors of Central Coalfields (CCL), the companys subsidiary approved the buyback of 23.50 lakh fully paid equity shares of face value of Rs 1000 each from the members of CCL on a proportionate basis through tender offer, representing 25% of the total number of equity shares in the paid-up share capita! of the company for an aggregate amount not exceeding Rs 1128 crore (maximum buyback size) being upto 25% of the paid-up equity share capital and free reserves as on financial year ended 31 March 2016, at a price of Rs 4800 per equity share payable in cash.

Tata Chemicals said after market hours on Friday, 17 June 2016 that due to emerging market conditions with effect from 19 June 2016, the company has decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports, and consequently production of complex fertilisers, including DAP, is being temporarily suspended at Haldia, West Bengal. Production of Single Super Phosphate (SSP) remains unaffected. The company will notify the exchange as and when production of DAP resumes.

Subros said on Saturday, 18 June 2016 that it has reinstated full supplies to its customer Maruti Suzuki India from the companys other plants at Noida, Pune and Chennai. Further, the company is working on fast-track basis to re-build the Manesar facilities so as to commence production in phased manner.

UCO Bank said on Saturday, 18 June 2016 that the board of directors of the bank approved the proposal for raising of tier I capital to the tune of Rs 4243 crore through issue of AT-1 bonds, issue of equity shares through FPO/Preferential Issue/ESOPs/QIP etc., The board has also approved the proposal for raising Tier II capital to the tune of Rs 1500 crore through issue of tier II bonds during the year financial years ending 31 March 2017 (FY 2017) and FY 2018 depending upon the market conditions.

MEP Infrastructure Developers said before market hours today, 20 June 2016 that the Securities and Exchange Board of India (SEBI) has granted the Certificate of Registration as an Infrastructure Investment Trust to MEP Infrastructure Investment Trust (MEP InvIT). MEP Infrastructure Developers is the Sponsor for the MEP InvIT.

Andrew Yule & Company said on Saturday, 18 June 2016 that the Board of Directors of the company have approved allotment of 1.24 crore shares of the company in favour of Bank of Baroda, against conversion of working capital term loan availed of by the company, as approved by the Cabinet Committee on Economic Affairs.

Aptech said on Saturday, 18 June 2016 that the company has on 18 June 2016 come across an order of SEBI dated 16 June 2016 on the website of SEBI wherein SEBI has notified that they are investigating 59 GDR issues of various companies including the GDR issue of the company in November 2003.

Bafna Pharmaceuticals said after market hours on Friday, 17 June 2016 that the board of directors approved the proposal for allotment of shares of 10 lakh shares to Promoters and 30 lakh shares to external investors (Non-Promoter) under preferential allotment basis through postal ballot process.

Powered by Capital Market - Live News

BPCL, IOC and Oil India may gain after their consortium acquires stake in Russian oil & gas company
Jun 20,2016

BPCL said on Saturday, 18 June 2016 that Bharat PetroResources (BPRL), a 100% subsidiary of BPCL, and its exploration and production arm, along with Oil India and Indian Oil Corporation (IOCL), acting jointly as the Indian consortium, signed definitive agreements to acquire, through a joint venture company formed by their wholly owned subsidiaries in Singapore, upto 23.9% shares of the charter capital of JSC Vankorneft, a company organised under the laws of the Russian Federation, which is the owner of Vankor and North Vankor Field licenses, from Rosneft Oil Company (Rosneft), a National Oil Company of Russia. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by September 2016.

Rosneft Oil Company holds about 85% shares while ONGC Videsh (through its subsidiary) holds about 15% shares in JSC Vankorneft. Vankor field, located in East Siberia is Russias second largest field by production and accounts for around 4% of Russian production. In 2015, the Vankor field produced 22 million tons of oil and 8.71 BCM of gas.

Axis Bank said after market hours on Friday, 17 June 2016 that it has kept its lending rates based on marginal cost of funds unchanged effective from 18 June 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%. The MCLR on 6-month loans will be 9.3% and for one-year loans the rate will be 9.35%, the bank said. MCLR on two-year loans will be 9.45% and for three-year loans the rate will be 9.5%.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

Coal India said after market hours on Friday, 17 June 2016 that the board of directors of Central Coalfields (CCL), the companys subsidiary approved the buyback of 23.50 lakh fully paid equity shares of face value of Rs 1000 each from the members of CCL on a proportionate basis through tender offer, representing 25% of the total number of equity shares in the paid-up share capita! of the company for an aggregate amount not exceeding Rs 1128 crore (maximum buyback size) being upto 25% of the paid-up equity share capital and free reserves as on financial year ended 31 March 2016, at a price of Rs 4800 per equity share payable in cash.

Tata Chemicals said after market hours on Friday, 17 June 2016 that due to emerging market conditions with effect from 19 June 2016, the company has decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports, and consequently production of complex fertilisers, including DAP, is being temporarily suspended at Haldia, West Bengal. Production of Single Super Phosphate (SSP) remains unaffected. The company will notify the exchange as and when production of DAP resumes.

Subros said on Saturday, 18 June 2016 that it has reinstated full supplies to its customer Maruti Suzuki India from the companys other plants at Noida, Pune and Chennai. Further, the company is working on fast-track basis to re-build the Manesar facilities so as to commence production in phased manner.

UCO Bank said on Saturday, 18 June 2016 that the board of directors of the bank approved the proposal for raising of tier I capital to the tune of Rs 4243 crore through issue of AT-1 bonds, issue of equity shares through FPO/Preferential Issue/ESOPs/QIP etc., The board has also approved the proposal for raising Tier II capital to the tune of Rs 1500 crore through issue of tier II bonds during the year financial years ending 31 March 2017 (FY 2017) and FY 2018 depending upon the market conditions.

MEP Infrastructure Developers said before market hours today, 20 June 2016 that the Securities and Exchange Board of India (SEBI) has granted the Certificate of Registration as an Infrastructure Investment Trust to MEP Infrastructure Investment Trust (MEP InvIT). MEP Infrastructure Developers is the Sponsor for the MEP InvIT.

Andrew Yule & Company said on Saturday, 18 June 2016 that the Board of Directors of the company have approved allotment of 1.24 crore shares of the company in favour of Bank of Baroda, against conversion of working capital term loan availed of by the company, as approved by the Cabinet Committee on Economic Affairs.

Aptech said on Saturday, 18 June 2016 that the company has on 18 June 2016 come across an order of SEBI dated 16 June 2016 on the website of SEBI wherein SEBI has notified that they are investigating 59 GDR issues of various companies including the GDR issue of the company in November 2003.

Bafna Pharmaceuticals said after market hours on Friday, 17 June 2016 that the board of directors approved the proposal for allotment of shares of 10 lakh shares to Promoters and 30 lakh shares to external investors (Non-Promoter) under preferential allotment basis through postal ballot process.

Powered by Capital Market - Live News

Alstom T&D in focus on plan to sell 42,000 shares to meet public holding norms
Jun 17,2016

Alstom T&D India said that market regulator Securities and Exchange Board of India (Sebi) has allowed the companys promoters to sell 42,565 shares to maintain the minimum public shareholding requirement of the firm. According to the statement issued by the company, promoters hold 75.0166% of fully paid up share capital of the firm, which exceeds the minimum pubic shareholding threshold of 75%. The announcement was made after market hours yesterday, 16 June 2016.

Sugar stocks will be watched. The government yesterday, 16 June 2016, reportedly imposed 20% customs duty on sugar exports to boost domestic supply and check prices which are ruling high at Rs 40 per kg. The duty has been imposed to restrict exports following sharp rise in global prices. The duty is, however, lower than 25% proposed by the Food Ministry, reports added.

Realty shares will be in focus as the Securities and Exchange Board of India (Sebi) reportedly holds a board meeting today, 17 June 2016. According to reports, the Sebi board is likely to examine a proposal to make Real Estate Investment Trusts (REITs) more attractive to investors by allowing them to invest a large portion of funds in under-construction assets. Besides, REITs may be allowed to have a larger number of sponsors. Further, regulations regarding the minimum public offer size and related party transactions would also be considered, reports added.

United Breweries Holdings (UBHL) announced that seven properties worth Rs 1375.94 crore have been attached by the Enforcement Directorate (ED). UBHL said it has received a provisional attachment order dated 11 June 2016 for the seven properties belonging to it for a period of 180 days, from the date of order, in connection with investigation against the companys promoter Vijay Mallya, Kingfisher Airlines and others under the Prevention of Money Laundering Act, 2002. The company is seeking legal advice in order to take appropriate steps that may be required in this regard, UBHL said in the filing. The announcement was made after market hours yesterday, 16 June 2016.

Public sector lender Oriental Bank of Commerce said the issue of Basel III Compliant Tier 2 Bonds of Rs 10 lakh each for cash at par aggregating to Rs 500 crore with an option to retain oversubscription of upto Rs 500 crore will open for subscription from 17 June 2016 to 22 June 2016. The deemed date of allotment shall be 24 June 2016. The bonds have been rated AA by ICRA & CARE and bear coupon rate of 9.05% per annum. The announcement was made after market hours yesterday, 16 June 2016.

Carborundum Universal will be watched. The Reserve Bank of India (RBI) notified yesterday, 16 June 2016, that the aggregate share holdings in Carborundum Universal by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) have gone below the prescribed threshold caution limit stipulated under the extant Foreign Direct Investment (FDI) policy. Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect. Equity shares of Carborundum Universal can now be purchased through primary market and stock exchanges, RBI said.

Kajaria Ceramics said that its board of directors at a meeting held on 16 June 2016, approved the sub-division of the equity shares of the company from Rs 2 each fully paid up to Re 1 each fully paid up. The announcement was made after market hours yesterday, 16 June 2016.

Pidilite Industries said that Pidilite International and Pidilite Middle East, wholly-owned subsidiaries of the company, have acquired shares of Nebula East Africa (NEAPL), a company incorporated in Kenya. With this acquisition, the wholly-owned subsidiaries of the company jointly hold 100% of the paid up share capital (which is Kenyan Shillings 100,000) equivalent to approximately $1000 in NEAPL. NEAPL is proposed to be engaged in the business as manufacturers, importers, exporters, buyers, sellers, etc in adhesives, sealants, and all other products used for making or producing adhesives and sealants. The announcement was made after market hours yesterday, 16 June 2016.

Sharon Bio-Medicine said that a meeting of the board of directors of the company will be held on 21 June 2016, to consider and discuss the overall financial viability of the company. The announcement was made after market hours yesterday, 16 June 2016.

Riddhi Siddhi Gluco Biols said that it has contributed Rs 205 crore as partners contribution of 99.95% in Riddhi Siddhi Infraspace, a limited liability partnership firm and also extended guarantee of Rs 80 crore for availing loan by them. The said entity in turn has purchased land & building at Ahmedabad. The announcement was made after market hours yesterday, 16 June 2016.

Powered by Capital Market - Live News