Axis Bank will be in focus after the private sector bank on Friday, 26 June 2015, announced a reduction in its base rate by 10 basis points to 9.85% per annum from 9.95% with effect from 30 June 2015. Accordingly, the effective rate applicable to various fund based credit and credit limits which are linked to the bank's base rate will reduce by 10 basis points, Axis Bank said in a press release.
Shares of FMCG companies will be in focus after the weekly data released by the Ministry of Agriculture after trading hours on Friday, 26 June 2015, showed a pick up in planting of Kharif crops. Increase in agricultural production could boost rural income which in turn could boost demand for consumer goods. FMCG companies derive substantial revenue from rural India.
Dabur India turns ex-dividend today, 29 June 2015, for final dividend of Rs 0.75 per share for the year ended 31 March 2015 (FY 2015).
Shriram Transport Finance Company said that the Board of Directors of the company at its meeting held on 26 June 2015, approved the draft Scheme of Amalgamation (Scheme) under section 391 to 394 of the Companies Act, 1956 and other applicable provisions of the Companies Act, 2013 of Shriram Equipment Finance Company (SEFCL) with Shriram Transport Finance Company, subject to approval by the High Court, Shareholders, Creditors and other relevant regulatory authorities as may be necessary. As per the Scheme, SEFCL a wholly owned subsidiary of the company will be amalgamated with Shriram Transport Finance Company. No consideration will be discharged by the company since SEFCL is the wholly owned subsidiary of the company. The announcement was made after market hours on Friday, 26 June 2015.
Havells India turns ex-dividend today, 29 June 2015, for final dividend of Rs 3 per share for the year ended 31 March 2015 (FY 2015).
Goa Carbon turns ex-dividend today, 29 June 2015, for dividend of Rs 1 per share for the year ended 31 March 2015 (FY 2015).
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SKS Microfinance on Friday, 26 June 2015 completed the first securitization transaction in FY16 of Rs 83.65 crore. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India's Priority Sector lending guidelines, SKS Microfinance said. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations, the company said. Such instruments carry very low credit risk, it added. The announcement was made after market hours on Friday, 26 June 2015.
Ortel Communications said that the board of directors of the company at its meeting held on Saturday, 27 June 2015, has considered and approved the proposal for availing additional term loan of Rs 25 crore consisting of Rs 10 crore from Karnataka Bank and Rs 15 crore from UCO Bank to part finance the capital expenditure requirement for expansion of the company's network and growth in RGUs. This will be in addition to the funds already raised through Initial Public Offer (IPO) of the company, Ortel Communications said. The board of directors of the company also considered and approved proposal for enhancement of overdraft limit with Karnataka Bank from existing limit of Rs 10 crore to Rs 15 crore and also enhancement of existing Bank guarantee limit of Rs 3 crore to Rs 8 crore with LC sub limit of Rs 1 crore to meet the day to day working capital requirement of the company. The announcement was made on Saturday, 27 June 2015.
IL&FS Engineering and Construction Company announced after market hours on Friday, 26 June 2015, that the meeting of the board of directors of the company is scheduled to be held on 2 July 2015, inter-alia, to consider additional fund raising options for the company.
Titagarh Wagons announced after market hours on Friday, 26 June 2015, that following its efforts to increase its presence in the international markets, the company's bid for acquisition as a going concern, of a Railway Rolling Stock manufacturing Company situated in Europe has been accepted by the Competent Authorities. However, the said acceptance of the bid is subjected to fulfillment of certain conditions and the final outcome of the same will be known shortly, Titagarh Wagons said.
JK Cement announced after market hours on Friday, 26 June 2015, that the board of directors of the company at its meeting held on 26 June 2015, has decided to make Jaykaycem (Central) (an unlisted, public limited and part of promoter group company), its wholly owned subsidiary by acquiring 100% paid up equity capital. This will facilitate to implement the business plan of Jaykaycem (Central) and/or to implement its future cement projects.
Plastiblends India announced after market hours on Friday, 26 June 2015, that in view of market potential and demand, the company has plans to substantially increase the manufacturing capacity and has identified land near Palsana, Surat to setup new manufacturing unit. The expansion will be funded mainly through internal accruals. The company has already acquired part of the land and has started construction of manufacturing facility which will be commissioned in phased manner.
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