Power Grid Corporation of India (PGCIL) said that the board of directors in a meeting held on 17 September 2014 have accorded approval for investment for 'Procurement of Telecom Equipment (DWDM/PTN/SDH), DCPS and Air-Conditioning System for Augmentation of Telecom Backbone and Access Network' at an estimated cost of Rs.331.88 crore, with commissioning schedule of 24 months from the date of award. The board also gave approval to the formation of a joint venture between the company and Rashtriya Ispat Nigam (RINL) on 50:50 equity participation basis for setting up manufacturing facility for transmission line towers & tower parts at Vishakhapatnam.
IDFC will be in focus as shares issued by the company to institutional investors recently will be admitted for trading on the bourses today, 22 September 2014. A total of 7.3 crore shares will be admitted for trading. IDFC had on 16 September 2014 said that it had allotted 7.3 crore shares to Qualified Institutional Buyers (QIBs) at an issue price of Rs 137 per share. The stock had risen 0.37% to settle at Rs 147.95 on Friday, 19 September 2014, on BSE. The company had raised Rs 1000.10 crore from the sale of shares to QIBs.
Shree Cement said that it has entered into a business transfer agreement (BTA) with Jaiprakash Associates for acquisition of 1.50 million tonnes per annum (MTPA) cement grinding unit of Jaiprakash Associates situated at Panipat in Haryana on going concern basis. The board had already given approval for the above transaction. Shares of Jaiprakash Associates dropped 4.68%.
Amtek Auto announced after market hours on Friday, 19 September 2014, that allotment committee of the board of directors of the company in their meeting held on 19 September 2014, have allotted 6.55 lakh shares at Rs 148.40 per share upon the conversion of foreign currency convertible bonds (FCCBs) of $2 million.
GMR Infrastructure announced after market hours on Friday, 19 September 2014, that the company has filed on 19 September, 2014, the draft letter of offer (DLOF) with Securities and Exchange Board of India (SEBI) for rights issue of shares.
Hotel Leelaventure announced after market hours on Friday, 19 September 2014, that the company did not pay Rs 22.50 crore towards first installment of interest, which was due on 31 March 2014. Further, the company has also not paid the quarterly interest, which fell due on 19 June 2014 and 19 September 2014. The company did not give further details. The debt is reportedly serviceable to state-owned life insurer, Life Insurance Corporation of India (LIC) and the company is seeking more time for repayment, report said.
Indiabulls Housing Finance said after market hours on Friday, 19 September 2014, that on 19 September 2014, the company, has issued and allotted 1 crore shares of face value Rs 2 each, upon conversion of warrants. Consequent to the said allotment, the paid-up share capital of the company increased to Rs 69.71 crore from Rs 67.71 crore and outstanding shares rose from 33.85 crore shares to 34.85 crore shares.
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Aegis Logistics announced after market hours on Friday, 19 September 2014, that it will sell a 40% stake in its Singapore based wholly owned subsidiary, Aegis Group International to ITOCHU Petroleum Co., (Singapore), a wholly owned subsidiary of ITOCHU Corporation for a total consideration of $5.85 million. The company also said that management proposes to establish a joint venture (JV) with ITOCHU Corporation, a Japanese multinational trading group specializing in oil & gas, metals and other commodities, which is also one of the big five sogo shosha general trading groups in Japan, in order for Aegis to strengthen its competitive position in liquified petroleum gas (LPG) sourcing, supply and shipping and also to support the company in building new LPG import terminal capacity in the future. ITOCHU Corporation is one of the largest global LPG companies by sales volumes. With growth in LPG demand and imports in India expected to soar over the coming ten years, the new joint venture with ITOCHU Corporation will enable the company to significantly expand and scale up its LPG division by allying with one of the gas majors in the world. This should result in a sizeable boost to Aegis's sales growth, earnings and size in the medium term, Aegis Logistics said in a statement.
Sanguine Media announced after market hours on Friday, 19 September 2014, that a meeting of the board of directors of the company will be held on 25 September 2014, to consider stock split.
Cox & Kings announced after market hours on Friday, 19 September 2014, that the rating agency, Credit Analysis & Research (CARE), has reaffirmed the rating as 'CARE A1+' of commercial papers and short term bank facilities of the company. CARE has also enhanced the standalone commercial paper issue of the company from the existing Rs 275 crore to Rs 375 crore. Instruments with this rating indicate very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk. CARE has also reaffirmed the rating as 'CARE AA- ' to the long term bank facilities and issue of non-convertible debentures of the company. Instruments with this rating indicate high degree of safety for timely servicing of debt obligations and carry very low credit risk.
Hindustan Zinc turns ex-dividend today, 22 September 2014, for interim dividend of Rs 1.90 per share for the year ending 31 March 2015 (FY 2015).
Cairn India turns ex-dividend today, 22 September 2014, for interim dividend of Rs 5 per share for the year ending 31 March 2015 (FY 2015).
Asian Paints turns ex-dividend today, 22 September 2014, for interim dividend of Rs 1.80 per share for the year ending 31 March 2015 (FY 2015).
Gayatri Projects turns ex-dividend today, 22 September 2014, for dividend of Rs 2 per share for the year ended 31 March 2014 (FY 2014).
Binani Industries turns ex-dividend today, 22 September 2014, for dividend of Rs 3 per share for the year ended 31 March 2014 (FY 2014).
Radico Khaitan turns ex-dividend today, 22 September 2014, for dividend of Rs 0.80 per share for the year ended 31 March 2014 (FY 2014).
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