Eveready Industries India after market hours on Thursday, 19 September 2013, announced a hike in the prices of its batteries.
Mr. Deepak Khaitan, Vice Chairman, Eveready Industries said, "A continuous upward trend in cost of materials and overhead expenses has adversely impacted the cost of batteries. This has left us with very little option but to pass on a part of the impact to the market. Realization will be increased between 3% and 10% from October 2013 by increasing the respective MRPs of economy pencil size batteries by Rs 5 per strip of 10 batteries, for all D size batteries by Rs 10 per box of 20 batteries and also by rationalizing trade margins of certain other batteries."
Axis Bank will be in focus after the Foreign Investment Promotion Board (FIPB) on Thursday, 19 September 2013, reportedly approved a proposal of Axis Bank to increase the limit on overseas holdings in the lender to more than 49%. According to reports, the proposal was cleared at an FIPB meeting chaired by Economic Affairs Secretary Arvind Mayaram. The FIPB approved raising the foreign equity holding in Axis Bank to 62% from 49%, subject to the condition that the holding of foreign institutional investors (FII) does not exceed 49%. As on 30 June 2013, the FII holding in the bank was 40.7% while domestic institutional investors had 8.77%.
HCL Technologies will be in focus as media reports said that FIPB also cleared the IT major's proposal to hike foreign direct investment (FDI) limit in the company to 74% from 49%. Although FDI in IT sector is under automatic route, HCL Tech had to approach the FIPB to seek clearance as the investment would impact its wholly-owned telecom subsidiary HCL Connet System & Services, reports added.
The National Stock Exchange said it will exclude Dena Bank and Vijaya Bank from the futures and options (F&O) segment. NSE said F&O contracts for new expiry months in Dena Bank and Vijaya Bank will not be issued on expiry of existing contract months. However, the existing unexpired contracts of expiry months September 2013, October 2013 and November 2013 would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months. Accordingly, no contracts shall be available for trading in the above mentioned securities with effect from 29 November 2013.
Jaiprakash Associates and UltraTech Cement will be watched as a media report suggested that the deal between Jaypee Cement and UltraTech Cement for the former's plant in Gujarat has run into legal trouble. According to the report, the Gujarat High Court on Thursday, 19 September 2013, ordered the deal involving transfer of a cement plant in the Kutch from Jaypee to UltraTech would be subject to the outcome of a public suit filed by local villagers of Abdasa taluka in the region.
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A division bench of Chief Justice Bhaskar Bhattacharya and judge J B Pardiwala has issued notices to the two companies and the Gujarat government. The next hearing is on 10 October 2013, the report added. The villagers in their suit have asked Jaypee to resolve the problems of encroachment and pollution before selling the unit. The suit was filed by Kharai Juth gram panchayat, where Jaypee's unit is located in the Abdasa taluka of Kutch. It alleges Jaypee has encroached upon grazing land, water bodies and public roads, the report said.
Asian Oilfield Services after market hours on Thursday, 19 September 2013, announced an open offer to its shareholders for acquisition of 58.04 lakh fully paid-up equity shares of face value of Rs 10 each, representing 26% of the fully diluted voting equity share capital of the company. The offer price for consideration is Rs 21 per share aggregating to Rs 12.18 crore. The offer price is subject to finalization of the price for the preferential issue of equity shares as on the relevant date, i.e. 23 September 2013, the company said.
Selan Exploration Technology after market hours on Thursday, 19 September 2013, said that the total number of equity shares bought back under the buyback was 5.87 lakh equity shares. All the bought back shares have been extinguished as on date, the company said. The total amount utilized in the buyback is Rs 16.09 crore. The equity shares were bought back at a weighted average price of Rs 274.21 per share. As the offer for the buyback of the equity shares of the company was from the open market through stock exchanges, the identity of shareholders from whom equity shares exceeding 1% of the total equity shares bought in the buyback is not known, the company said.
National Aluminium Company (Nalco) turns ex-dividend today, 20 September 2013, for final dividend of 50 paise per share for the year ended 31 March 2013.
Gayatri Projects turns ex-dividend today, 20 September 2013, for dividend of Rs 3 per share for the year ended 31 March 2013.
Gulf Oil Corporation turns ex-dividend today, 20 September 2013, for dividend of Rs 2.20 per share for the year ended 31 March 2013.
HSIL turns ex-dividend today, 20 September 2013, for dividend of Rs 3 per share for the year ended 31 March 2013.
Raj Television Network turns ex-dividend today, 20 September 2013, for final dividend of Re 1 per share for the year ended 31 March 2013.
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