Shares of Maruti Suzuki India will be watched after media reports suggested that the stock is expected to attract the attention of global passive funds in the next few months following the company's decision to raise the FPI (or, Foreign Portfolio Investor) holding limit to 40%, from 24%. A higher FPI limit will increase the free-float in Maruti shares and increase chances of the stock finding a place the MSCI India indexa key index tracked by several global emerging market fund managers, reports added.
ITC will be in focus. With respect to news titled "ITC may share Its Dealer Network for a Face," ITC clarified after market hours yesterday 7 September 2015, that the news item is speculative in nature and the company has not taken any decision in this regard.
Dr Reddy's Laboratories will be in focus. With respect to news article titled "Dr. Reddy's recalls over 55K bottles of drug in US" Dr Reddys Laboratories clarified after market hours yesterday 7 September 2015, that the company has voluntarily recalled a few batches of Amlodipine besylate and Atorvastatin from the US market in conformance with our quality assurance norms. The impact of this is not material, the company added.
Tata Consultancy Services (TCS) will be in focus. With respect to news article titled "TCS close to country's 'largest' office space deal", TCS clarified after market hours yesterday 7 September 2015, that it does not have any specific comment to offer with regard to the above news item. TCS added that in the ordinary course, it buys or leases office space on regular basis either for expansion or consolidation of existing offices.
FMCG firm Britannia Industries has reportedly evinced interest to set up an agro-processing facility in Chittoor district of Andhra Pradesh.
Info Edge (India) announced after market hours yesterday, 7 September 2015, that Zomato Media, which owns and operates an online food guide portal www.zomato.com, has signed definitive agreements to raise close to Rs 390 crore, led by Singapore investment company Temasek with participation from existing shareholder Vy Capital. Info Edge (India), including its wholly-owned subsidiary did not participate in the present round of investment. Post the transaction, Info Edge alongwith its wholly-owned subsidiary holds, on a fully converted and diluted basis, about 47% on Zomato.
JSW Energy is reportedly set to acquire Bina thermal power from Jaiprakash Power Ventures for Rs 3500 crore. The thermal power plant has installed capacity of 500 MW and have sufficient infrastructure to ramp it up to 1500 MW with marginal investment, reports added.
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Repco Home Finance announced after market hours yesterday, 7 September 2015, that it raised Rs 100 crore through private placement of 1000 Zero-Coupon Secured, Redeemable and Non-Convertible Debentures (SRNCD) of face value Rs 10 lakh each (at par) and maturing on 6 September 2018. (XIRR 9.21%).
Indian Hume Pipe Company announced after market hours yesterday, 7 September 2015, that it entered into an agreement with Mumbai-based builder Dosti Realty for development of nearly 3.5 acre land parcel in Mumbai's Wadala locality. The total land parcel includes 2.08 acre freehold land, while 1.39 acre is under Slum Rehabilitation Scheme.
Shares of steel companies will be watched after media reports suggested that an Indian government body has found evidence that rising imports of some hot-rolled steel products from China, Japan, South Korea and Russia pose a threat to the domestic industry, potentially paving the way for an import levy known as a safeguard duty.
Sujana Towers will be watched after media reports suggested that the Competition Commission of India (CCI) has approved the proposed acquisition of the company's tower business by Agarwal Steel Structures on a slump sale basis, saying the deal is not likely to have an adverse impact on competition. According to reports, the value of the assets proposed to be transferred will be about Rs 2040 crore. The company's liabilities (including creditors) stand at about Rs 1674.96 crore. The net consideration is expected to be Rs 340 crore.
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