NTPC said that the Ministry of Coal has announced re-allotment of five coal mines namely, Chatti-Bariatu, Chatti-Bariatu(South), Kerandari, Dulanga and Talaipalli to the company.
Tata Consultancy Services (TCS), in partnership with Cloudera, the leader in enterprise analytic data management powered by Apache Hadoop', announced the certification of Big Data Solutions on Cloudera Enterprise through the Cloudera Certified Technology Program (CCTP). This follows the recent TCS and Cloudera partnership to deliver "Best of Breed" Big Data Solutions. TCS provides customer and industry expertise, digital transformation and Digital Reimagination" solutions and services, backed by its Global Network Delivery Model" (GNDM), complementing Cloudera's strong enterprise expertise, technology and industry leadership, and 24x7 proactive and predictive support. Customers will have complete confidence in adopting Cloudera Enterprise with TCS solutions that have been tested, validated and certified to work with a Cloudera enterprise data hub.
ICICI Bank will be in focus after the Ministry of Defence after trading hours yesterday, 25 March 2015, announced the signing of a Memorandum of Understanding (MoU) between the Indian Army and ICICI Bank on the Defence Salary Package. The first MoU between ICICI Bank and the Indian Army was signed in 2011 and was valid for a period of three years. The revised MoU is tailor made to suit the requirements of serving soldiers, pensioners and families. The Ministry of Defence said that India Army is confident that this MoU will benefit a large number of serving and retired Army personnel who are having their accounts with ICICI Bank and also provide them an opportunity to access modern banking facilities. The basic features of the MoU are the same as before, the Ministry of Defence said. Some features which have been improved from before are enhancement of Personal Accident Insurance (PAI) cover, enhancement of Air Accident Insurance cover, insurance cover on house loan and enhancement of purchase protection.
Telecom stocks will be in focus. The Auction of Spectrum in 2100 MHz, 1800 MHz, 900 MHz and 800 MHz Bands re- commenced yesterday, 25 March 2015, and 5 rounds of bidding were completed. The Auction came to an end after 115 rounds of bidding. The bidding took place in all bands. At the end of 115th round, about 89% of the spectrum has been provisionally allocated to bidders. The provisional amount committed by bidders at the end of 115th round is Rs 1.09 lakh crore.
Crompton Greaves announced after market hours yesterday, 25 March 2015, that the High Court of Judicature at Bombay has sanctioned the Scheme of Amalgamation of CG Energy Management (CGEML), CG-ZIV Power Automation Solutions (CG-ZIV) 100% subsidiaries, with Crompton Greaves), the holding company. The High Court Order has been filed with the Registrar of Companies, Mumbai and the Scheme has become effective on 25 March 2015; the Appointed Date being 1 April 2014. Since CGEML and CG-ZIV are 100% subsidiaries of the company, the entire paid up share capital of CGEML and CG-ZIV would be cancelled and the Transferor Companies stands dissolved without winding-up.
Allahabad Bank announced before market hours that the bank on 25 March 2015 has issued and allotted 2.67 crore shares at an issue price of Rs 119.54 per share to Government of India on preferential basis.
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Tata Power announced after market hours yesterday, 25 March 2015, that it has entered into a share purchase agreement with Tata Africa Holdings (SA) (Pty) Ltd. for formalizing acquisition of their 50% shareholding in Itezhi Tezhi Power Corporation.
Tata Power said that Itezhi Tezhi Power Corporation Ltd (ITPC), a 50-50 joint venture with the Zambian parastatal utility ZESCO (ZESCO), is a special purpose vehicle which has been setup to build and operate a 120 megawatts (MW) hydro power plant in Itezhi Tezhi district in Zambia. ITPC has a 25 year power purchase agreement with ZESCO and is expected to commission the power plant by Q4 2015.
The closing will be subject to various approvals and consents as required under applicable law.
Hero MotoCorp announced after market hours yesterday, 25 March 2015, that HMC-MM Auto, the joint venture between the company and Milan, Italy headquartered Magneti Marelli inaugurated its first autonomous production and development centre at Manesar in the north Indian state of Haryana.
KSS announced after market hours yesterday, 25 March 2015, that a meeting of the Board of Directors of the company will be held on 31 March 2015, inter alia, to consider and approve allotment of shares pursuant to conversion of Optionally Convertible Redeemable Bonds (OCRBs).
Shares of cable TV operators will be in focus after the Telecom Regulatory Authority of India (TRAI) yesterday, 25 March 2015, notified the Standards of Quality of Service (Digital Addressable Cable TV Systems) (Amendment) Regulations, 2015 applicable for cable TV services being provided through Digital Addressable Systems (DAS) by incorporating the provisions for levy of financial disincentives on Multi System Operators (MSOs) who are not complying with the provisions regarding billing and issue of receipts for payment made by the subscribers. A provision for financial disincentive for an amount up to Rs 20 per subscriber has been made in the amended regulations. TRAI is of the view that enabling the imposition of financial disincentives will be an effective deterrent and will incentivize MSOs to issue bills and receipts to subscribers for payments made, the Ministry of Communications & Information Technology said in a statement issued after trading hours yesterday, 25 March 2015. Further, in order to ensure that the MSOs honor the pre-paid or post-paid option given by the subscriber in a timely manner, a financial disincentive of up to Rs 100 per subscriber has been made on the MSO for each contravention, the Ministry of Communications & Information Technology said.
Repco Home Finance has issued Commercial Papers to the tune of Rs 60 crore (1200 Commercial papers of Rs 5 lakh each) at a discount rate of 9.15% with a maturity date of 29 May 2015 (65 days tenure).
Rural Electrification Corporation (REC) will be in focus. With respect to news titled, "REC in pact with TSGENCO for Rs. 24,000 cr projects," REC clarified that it is a Public Financial Institution and also registered as a NBFC and categorized by Reserve Bank of India (RBI) as an Infrastructure Finance Company (IFC). The main business of REC is to finance power projects of State power utilities and Private power utilities.
The company sanctions financial assistance to State sector utilities as well as to the Private sector utilities for generation, transmission, distribution and other related projects. During the financial year 2014-15, it sanctioned financial assistance of Rs 57,000 crore (approximately) to various utilities in power sector.
The Memorandum of Understanding signed by REC with Telangana State Power Generation Corporation (TSGENCO) was in normal course of our business for extending financial assistance during the 12th five year plan (2012-2017), in accordance with REC policy/guidelines and subject to exposure limit available at the time of sanction of individual project and the company does not regard the item that appears in the media as a material item considering the main business of REC i.e. financing to the power sector. Therefore, same was not disclosed.
Suzlon Energy said that the Securities Issue Committee of the board of directors of the company has, at its meeting held on 25 March 2015, approved allotment of 16.88 crore equity shares of Rs 2 each on conversion of 43,332, $546,916,000 Step-up Convertible Bonds due July 2019 worth $43,332,000 at a conversion price of Rs 15.46 per equity share with a fixed rate of exchange on conversion of Rs 60.22 to $1 in terms of the Information Memorandum dated 17 June 2014, pursuant to the conversion notices received from certain bondholders of the $546,916,000 Step-up Convertible Bonds due July 2019. Post aforesaid allotment, the paid-up capital of the company is Rs 741.54 crore divided into 370.77 crore equity shares of Rs 2 each.
Bharat Electronics announced after market hours yesterday, 25 March 2015, that credit rating firm ICRA has reaffirmed long-term rating of [ICRA] AAA (pronounced ICRA triple A) to Rs 200-crore fund based bank limits of the company for the year 2015-16. The rating is valid till 28 February 2016. ICRA has also reaffirmed short-term rating of [ICRA] A1+ (pronounced ICRA A one plus) to Rs 2700-crore non-fund based bank limits of the company for the year 2015-16. The rating is valid till 28 February 2016.
ICRA has also reaffirmed short-term rating of [ICRA] A1+ (pronounced ICRA A one plus) to Rs 5-crore short-term debt programme of the company for the year 2015-16. The rating is valid till 12 March 2016.
The outlook on the company's long-term rating is stable. These ratings indicate the highest credit quality in the long- and short-term. The instruments rated in these categories carry the lowest credit risk in the long- and short-term.
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