Metal stocks may gain after a preliminary reading of private measure of Chinese manufacturing jumped more than forecast in September. China is the world's largest consumer of copper and aluminum.
A Chinese manufacturing index rose to a six-month high in September, signaling that a rebound in the world's second-largest economy is gaining steam. The preliminary reading of 51.2 for a Purchasing Managers' Index released today, 23 September 2013 by HSBC Holdings Plc and Markit Economics. The gauge was at 50.1 in August.
Hindalco Industries after market hours on Friday, 20 September 2013 said that the Committee of the board of directors of the company at its board meeting held on Friday, 20 September 2013, has allotted 15 crore equity shares of Re 1 each at a premium of Rs 143.35 per share to the promoter group companies subsequent to the promoters exercising warrants and paid the balance 75% of the purchase price.
It may be recalled that the company's board had on 22 March 2012, allotted 15 crore warrants on preferential basis to promoters group companies under Sebi (Issue of Capital & Disclosure Requirements) Regulations 2009 at Rs 144.35 per share. As per Sebi Regulation, the promoters had paid 25% of the purchase price at the time of allotment of warrants.
Sesa Goa after market hours on Friday, 20 September 2013 said that the name of the company has been changed to Sesa Sterlite following approval by the Registrar of Companies, Goa on 18 September, 2013. The change of name is consequent to the approval of the Scheme of amalgamation and arrangement amongst Sterlite Industries (India), Madras Aluminium Company, Sterlite Energy, Vedanta Aluminium and Sesa Goa and their respective shareholders and creditors and the Scheme of Amalgamation of Ekaterina with the company and their respective shareholders and creditors.
Tata Motors is reportedly looking to raise prices by 1% to 1.5% across its range of commercial and passenger vehicles, following similar moves by rival carmakers.
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Steel Authority of India reportedly plans to invest around Rs 800 crore to develop Bhilwara iron ore mine in Rajasthan and set up a pellet plant with 2 million tonne per year capacity.
Indian Overseas Bank's (IOB) board of directors at a meeting held on Friday, 20 September 2013, approved raising of bank's capital by way of issue of equity share of Rs 10 each at a price determined under Sebi (ICDR) Regulations of 2009 to the Government of India (GoI) to the extent of capital infusion by GoI under preferential allotment. The board has also accorded to the bank to issue equity shares of Rs 10 each to Qualified Institutional Buyers (QIBs) by way of private placement for the shortfall in Tier I capital requirements of Rs 2100 crore assessed by the bank and the capital infusion by GoI. The exact amount of Government support for infusion of capital and the quantum and size of issue for QIP will be known in due course, IOB said.
Foreign fund FID Fund Mauritius bought 2.95 lakh shares or 0.71% stake at Rs 1,074.99 per share of MindTree through a bulk deal on the BSE on Friday, 20 September 2013.
Foreign fund Credit Suisse (Singapore) sold 70.52 lakh shares or 1.62% stake at Rs 27.35 per share of Parsvnath Developers through a bulk deal on the NSE on Friday, 20 September 2013. The shares were acquired by Venus Capital Management Inc. Following the recent sale, Credit Suisse (Singapore) completely exited from the realty firm.
Divi's Laboratories shares will be included in the FTSE Asian Health Care Index from today, 23 September 2013. An inclusion in global benchmark indices such as FTSE prompts buying from passive trackers of the FTSE indices.
Speciality Restaurants after market hours on Friday, 20 September 2013 said that company has opened a "Mainland China" restaurant located at Phoenix Market City in Chennai on Friday. Accordingly, as of the date of the letter, the total number of restaurants (including franchise restaurants) and confectionaries of the company are 88 and 14 respectively, the company said.
Cosmo Films after market hours on Friday, 20 September 2013 announced the successful commissioning of its new state-of-art manufacturing facility at Shendra, SEZ, Aurangabad, Maharashtra. The new plant had commissioned and started the commercial production on 1 September 2013, the company said. With the commissioning of this new facility, the approximate installed capacity of the company now stands at 130,000 tonnes per annum (TPA) for BOPP, 40,000 TPA for thermal films and 8,000 TPA for metalized films. This new plant would mainly be dedicated to exports, the company said.
Cosmo Films said that the successful commissioning of this new facility will contribute to phenomenal growth in revenues of the company in FY 2013-14. With the establishment of this new facility coupled with its initiatives in Research & Development, the company said it expects to continue its growth trajectory.
State Bank of Mysore said on Saturday, 21 September 2013 that employees of the bank are participating in one day strike call given by All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI) proposed to be held on 25 September 2013.
Religare Enterprises announced after market hours on Friday, 20 September 2013 that the company is proposing to issue rated secured redeemable non convertible debentures of face value Rs 10 lakh each with marketable lot of one debenture for cash aggregating upto Rs 800 crore on private placement basis.
Omaxe said on Saturday, 21 September 2013 that the company and premier entertainment agency Wizcraft are associating for the first time for creation of a special theme zone at Omaxe Connaught Place in Greater Noida. This special theme zone will showcase a never seen before concept theme zone that is intended to not only entertain and excite but educated and empower. Spread over approximately 30,000 square feet, Wizcraft will conceptualize and execute these thematic entertainments that will cater to all age groups. A footfall of more than 50,000 is expected on a daily basis.
Jindal Saw turns ex-dividend today, 23 September 2013, for dividend of Re 1 per share for the year ended 31 March 2013.
SMS Pharmaceuticals turns ex-dividend today, 23 September 2013, for dividend of Rs 2 per share for the year ended 31 March 2013.
Technocraft Industries (India) turns ex-dividend today, 23 September 2013, for final dividend of Rs 2 per share for the year ended 31 March 2013.
V-Mart Retail turns ex-dividend today, 23 September 2013, for dividend of Re 1 per share for the year ended 31 March 2013.
Venus Remedies turns ex-dividend today, 23 September 2013, for dividend of Rs 3 per share for the year ended 31 March 2013.
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