ONGC's wholly-owned subsidiary ONGC Videsh on Saturday, 27 September 2014 said that it has entered into a memorandum of understanding and cooperation (MoU) with Pemex-Exploration Y Production (PEP), the upstream subsidiary of Pemex, the national oil company of Mexico, to cooperate in the hydrocarbon sector in Mexico.
Under the agreement, the two companies will plan to discuss future cooperation and collaboration in Mexico's upstream sector. The MOU also envisages cooperation in the fields of technology, human resources, research and development (R&D), ONGC said in a statement.
Mexico is the largest crude oil producing country in Latin America.
Bank of Baroda announced on Saturday, 27 September 2014, that the board of directors of the bank at its meeting held on 27 September 2014, have considered and accorded it's in-principle approval to the bank for 5-for-1 stock split, which is subject to prior approval of Reserve Bank of India (RBI) and other statutory/regulatory/Government of India approvals as may be required.
IDBI Bank's board of directors at its meeting held on Friday, 26 September 2014, approved for infusion of additional capital of Rs 58.34 crore by way of equity in IDBI Asset Management (IAML), bank's subsidiary company, to meet the growth requirements of IAML besides maintaining net worth as stipulated by Sebi in terms of clause (f) of amended Regulation 21(1) of SEBI (MF) Regulations, 1996. The board also approved enhancement in Rupee borrowing limit from the present limit of Rs 4000 crore (approved by the shareholders on 2 September 2014) to Rs 15000 crore subject to compliance with all applicable laws, regulations & guidelines as well as the approval of shareholders to be obtained in terms of Section 42 of the Companies Act, 2013 by Postal Ballot.
Financial Technologies (India) (FTIL) before market hours today, 29 September 2014 said that on 27 September 2014, FTIL & Multi Commodity Exchange of India (MCX) have executed a master amendment to principal agreements (Supplementary Agreement) for providing software support & managed services on mutually agreed terms & conditions until the year 2022 and further renewal as may be mutually agreed between the parties. The inter cilia commercial terms & conditions of the Supplementary Agreement are viz. Fixed charges Rs 1.5 crore per month including managed services payable in advance on semiannual basis. Variable charges 10.3% of gross transaction fees, by whatever name called to be paid in 30 days. Due to this Supplementary Agreement, and based on the current volume of MCX and assuming MCX daily volume remain same, the negative impact on the total income of the company would be around Rs 8.82 crore for the period 2014-15, FTIL said.
Lakshmi Machine Works after market hours on Friday, 26 September 2014, entered into a technology transfer agreement on 26 September 2014 with Veejay Lakshmi Engineering Works (VeeJay), Coimbatore for obtaining technical knowhow for manufacture by the company the Winding Machine, developed by VeeJay.
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Anant Raj's board of directors at its meeting held on Friday, 26 September 2014, approved the sale of 100% equity stake in its wholly owned subsidiary Greatway Estates for a consideration of Rs 304.12 crore. The consideration received shall be utilised partly for repayment of debt and partly for development of existing project's of the company.
Jyoti Structures after market hours on Friday, 26 September 2014 said it has allocated 2.33 crore equity shares at an issue price of Rs 42.85 per share at a premium of Rs 40.85 per share, aggregating Rs 100.21 crore to eligible qualified institutional buyers.
8K Miles Software Services after market hours on Friday, 26 September 2014 said that a meeting of the board of directors of the company will be held today, 29 September 2014, inter to consider, amongst other things, the issue of convertible warrants on preferential basis.
PAE after market hours on Friday, 26 September 2014 said that pursuant to approval of shareholders of the company, the board of directors of the company vide its circular resolution passed on 26 September 2014, allotted 9 lakh 11% optionally, convertible, cumulative, redeemable preference shares of Rs 10 each to the allottees.
Colgate-Palmolive (India) turns ex-dividend today, 29 September 2014, for first interim dividend of Rs 8 per share for the year ending 31 March 2015.
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