Trading in shares of Castrol India resumes on the bourses today, 14 March 2014. Trading in the shares of the company was suspended late last month to give effect to the company's capital reduction scheme. As per the capital reduction scheme, the company had returned Rs 5 per share to shareholders from the initial fully paid-up face value of Rs 10 per share. After returning Rs 5 per share to each shareholder, the face value of the shares has now been reduced to Rs 5 per share. The scrip was last traded at Rs 289 on BSE on 26 February 2014 when the face value per share was Rs 10.
Tata Motors announced after market hours on Thursday, 13 March 2014 group global wholesales in February 2014, including Jaguar Land Rover, were 79,996 units.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range -- were 29,221 units. Global wholesales of all passenger vehicles in February 2014 were 50,775 units.
Global wholesales of Tata Motors' passenger vehicles in February 2014 were 11,764 vehicles. Global wholesales for Jaguar Land Rover for the month were 39,011 vehicles. Jaguar wholesales for the month were 6,634 vehicles, while Land Rover wholesales for the month were 32,377 vehicles.
Bharti Airtel announced on Thursday, 13 March 2014 that its wholly-owned subsidiary Bharti Airtel International (Netherlands) B.V. (Bharti) has successfully priced CHF 350 Million 3% Guaranteed Senior Notes due 31-March-2020 (the Notes). The Notes will be fully and unconditionally guaranteed by Bharti Airtel. Bharti will apply the net proceeds to refinance its existing debt. The announcement was made after market hours on Thursday, 13 March 2014.
The Notes carry an Investment Grade rating from Moody's, Standard &Poor and Fitch. The Notes received considerable investor interest, witnessing a strong and balanced demand across high quality Institutional Investors and Swiss Private Banks, highlighting the broad support base that the Bharti credit has attracted. The Notes have been priced at 230 basis points over 6 year CHF Mid Swaps with a fixed coupon of 3% per annum to yield 2.98%.
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Mr. Harjeet Kohli, Group Treasurer, Bharti Airtel said, It is extremely heartening to have a third listing of our credit in just one year with yet another largest debut issuance from India. With this issuance, Bharti now has the largest debut USD, EURO and CHF denominated bond issuances by an Indian issuer ever.
These issuances continue to diversify our funding sources, currencies and investor base, besides being priced at very attractive levels. Bharti's credit continues to receive interest from diverse and high quality investors, underlining the strength of our business. added Mr. Kohli.
Meanwhile, Bharti Airtel announced after market hours on Thursday, 13 March 2014 that Nikesh Arora has resigned from the board and Dinesh Kumar Mittal has been appointed as an Additional Director in the category of Independent Director from 13 March 2014.
Larsen & Toubro, the promoter of L&T Finance Holdings has submitted a notice of offer for sale up to 5.55 crore shares of face value of Rs 10 each, constituting 3.23% of the equity share capital of the company (Sale Shares) today, 14 March 2014 exclusively through the Seller's broker on the separate window provided by the stock exchanges. In addition to the Sale Shares, L&T may also sell up to 2.77 crore shares of face value Rs 10 each of L&T Finance in the Sale on 14 March 2014 (the additional shares, and together with the Sale Shares). The sale shall take place at the separate window of the Stock Exchanges and shall commence today, 14 March 2014 at 9.15 IST and shall close at 15.30 IST.
The floor price for the sale has been set at Rs 70 per share of L&T Finance Holdings.
The Reserve Bank of India on Thursday, 13 March 2014 notified that foreign institutional investors (FIIs), through primary market and stock exchanges, can now purchase up to 48% (revised from earlier limit of 45%) of the paid up capital of Tech Mahindra under the Portfolio Investment Scheme (PIS). Tech Mahindra has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 45% to 48% for the purchase of its equity shares and convertible debentures by foreign institutional investors (FIIs).
The Reserve Bank has notified this under FEMA 1999, regarding raising of aggregate ceiling for investments by FIIs in Indian companies under Portfolio Investment Scheme (PIS).
Oil India said after market hours on Thursday, 14 March 2014 that a meeting of the board of directors of the company will be held on 21 March 2014, inter alia, to consider the declaration of second interim dividend for the year ending 31 March 2014. Oil India has set 27 March 2014 as the Record Date for the purpose of payment of the second interim dividend for the year ending 31 March 2014.
Punjab National Bank announced after market hours on Thursday, 13 March 2014 that Dr. R. S. Sangapure has been appointed as Executive Director of the bank in terms of Department of Financial Services, Ministry of Finance, Government of India Notification dated 13 March 2014 for a period upto 28 February 2018 i.e. the date of attaining the age of superannuation or until further orders, whichever is earlier. Further the Bank has informed that, Dr. Sangapure has assumed the charge of Executive Director on 13 March 2014.
Cipla announced after market hours on Thursday, 13 March 2014 that the Board of Directors of the company at its meeting held on 13 March 2014, inter alia has approved retirement of Mr. M. K. Hamied as Executive Vice-Chairman Mr. M. K. Hamied has expressed his desire to retire as Executive Vice-Chairman of the company. The board unanimously acknowledges the outstanding contribution of Mr. M. K. Hamied to the company over the past 30 years, and in deference to his wishes, has accepted his proposal to retire as Executive Vice-Chairman effective March 31, 2014.
Mr. M. K. Hamied however continues to be the Vice-Chairman of the company in a non-executive role effective 1 April 2014.
The board also appointed Mr. Rajesh Garg as Executive Director and Global Chief Financial Officer Mr. Rajesh Garg has been designated as "Executive Director and Global Chief Financial Officer" and appointed as an Additional Director and Whole-time Director of the company with effect from 1 April 2014. Mr. Rajesh Garg joined the company as its Global Chief Financial Officer on 3 June 2013.
Gujarat Gas Company (GGCL) said that pursuant to the receipt of letter from PNGRB dated 5 March 2014 granting GGCL an authorisation to lay, build, operate, or expand city or local natural gas distribution network (CGD network) for the geographical area of Bhavnagar comprising of Bhavnagar district and few talukas of the newly formed district of Botad, GGCL has accepted the authorisation in Schedule D of the PNGRB (Authorizing Entities to Lay, Build, Operate or Expand City or Local Natural Gas Distribution Networks) Regulation, 2008, vide a confirmation letter to PNGRB on 13 March 2014.
As per the provisions of the PNGRB (Exclusivity for City or Local Natural Gas Distribution Networks) Regulation, 2008, GGCL has been granted 300 months of infrastructure exclusivity i.e. valid up to 4 March 2039 and 60 months of marketing exclusivity valid up to 4 March 2019 for the CGD network. Further, the Authorised area for laying, building, operating or expanding the proposed CGD Network shall cover a geographical area of 8,153 sq.km.
On a consolidated basis, MphasiS reported 5.05% fall in net profit to Rs 180.60 crore on 1.88% fall in net sales to Rs 1563.97 crore in the Q1 January 2014 over the Q4 October 2013.
AstraZeneca Pharma India said the company's board will meet on 15 March 2014 to decide on delisting the company's shares from the stock exchanges. The drug maker's Swedish parent, AstraZeneca Pharmaceuticals AB, had on 1 March 2014 written to the Indian unit about its decision to voluntarily delist the company.
Ahmednagar Forgings turns ex-dividend for a dividend of Re 1 per equity share for the period of 15 months ended on 30 September 2013.
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