IPCA Laboratories announced that it has entered into a share purchase agreement (SPA) to acquire 100% paid-up share capital of Ramdev Chemical for cash at Rs 108.50 crore. Ramdev Chemical is engaged in the business of manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and active pharmaceutical ingredients. The announcement was made after market hours yesterday, 24 April 2019.
Axis Bank, Tata Steel, Maruti Suzuki India and Nestle India will announce its January-March 2019 quarterly earnings today, 25 April 2019.
State Bank of India (SBI) announced that the executive committee of the central board in its meeting held on 24th April 2019 has approved long term fund raising in single/multiple tranches upto $2.5 billion, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2019-2020. The announcement was made after market hours yesterday, 24 April 2019.
Bank of Maharashtra announced that its board will meet on 29 April 2019 to consider the proposal of raising of capital through FPO/rights issue/QIP/preferential issue or any other mode or combination thereof and/or through issue of bonds or such other securities as may be permitted under applicable laws etc., subject to the necessary approvals. The announcement was made after market hours yesterday, 24 April 2019.
Indiabulls Real Estate will be watched. With reference to media reports titled, "Seeking realty business exit, Indiabulls sounds out ally Blackstone", Indiabulls Real Estate clarified after market hours yesterday, 24 April 2019, that it has been engaged in its business reorganization exercise for quite some time in the past at different intervals, and have been keeping the exchanges informed on such related developments, if any. In respect of such reorganization of the company's businesses many informal discussions keep on raking place, from time to time, and the company do not comment on speculations with respect to such discussions.
Oil India informed that its board approved the proposal for giving the employees of the company an opportunity to exercise the option to contribute towards the employee pension scheme on the basis of actual salary, having a financial impact of approximately Rs 1,788 crore to the company. The announcement was made after market hours yesterday, 24 April 2019.
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FDC announced that the company's non-sterile manufacturing facility located at 8-8, M.I.D.C Industrial area, Waluj, Aurangabad, Maharashtra had recently undergone an inspection by PIC/S Malaysia and it continues to be approved. Hence, the company continues to export oral liquid, oral powder and external powder products. The announcement was made after market hours yesterday, 24 April 2019.
IL&FS Group shares will be watched. The Reserve Bank of India (RBI) on Wednesday, 24 April 2019, directed banks and financial institutions to disclose the total amount of exposure, which are non-performing assets as per IRAC (income recognition and asset classification) norms, and are not classified as NPAs related to IL&FS. Further, banks should also outline the provisions required to be made and the provisions actually held for the debt-ridden infrastructure firm and its group entities.
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