Punjab National Bank (PNB) after market hours yesterday, 6 January 2015 said it has decided to realign its interest rates in case of single domestic and NRE deposits for domestic term deposits of less than Rs 1 crore, in the maturity bucket of 7-14 days to 4.5% from 4%, in the maturity bucket of 30-45 days to 5% from 4.5%, in the maturity bucket of 180-270 days to 7.75% from 7.5%, in the maturity bucket of 271 days and less than one year to 7.75% from 8.25%, in the maturity bucket of 1-3 years to 8.75% from 9% and in the maturity bucket of 5-10 years to 8.5% from 8.75%.
For domestic term deposits of Rs 1 crore to Rs 10 crore, the bank has realigned its interest rates in the maturity bucket of 91-179 days to 7.5% from 8%, in the maturity bucket of 180-270 days to 7.75% from 8%, in the maturity bucket of 271 days to 1 year to 8.25% from 8.5% and in the maturity bucket of 1-3 years to 8.5% from 8.75%. The changes are applicable from 8 January 2015, PNB said.
Aurobindo Pharma after market hours yesterday, 6 January 2015, announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valsartan Tablets USP, 40mg, 80mg, 160mg and 320mg. The product is ready for launch, Aurobindo Pharma said.
Shares of public sector banks (PSBs) may edge higher after the Department of Financial Services, Ministry of Finance, after trading hours yesterday, 6 January 2015, said it has issued a circular to the Chief Executive Officers (CEOs) of all public sector banks (PSBs), financial institutions (FIs) and insurance companies assuring them of freedom of non-interference in matters of commercial decisions, transfers, and postings etc. PSBs should take all commercial decisions in the best interest of the organization without any fear or favour, according to the circular. The Department of Financial Services has also stated in the circular that each bank/FI should have a robust grievance redressal mechanism for borrowers, depositors as well as staff. The aggrieved person should have an opportunity to represent his case at least at two levels.
State-run Power Grid Corporation of India (PGCIL) will be in focus after Minister of Road Transport & Highways and Shipping Nitin Gadkari yesterday, 6 January 2015, laid the foundation of 400/220 kV sub-station with 2000 MVA capacity of PGCIL at Tughlakabad, Delhi. In order to facilitate handling of increasing quantum of power with reliability, four nos. of 400/220kV substations along with associated 400kV transmission network under Inter State Transmission System (ISTS) are being implemented within the periphery of Delhi to import power from various sources outside Delhi. These ISTS 400/220 kV substations are planned to be established at Rajghat, Tughlakabad, Karampura and Papankalan in Delhi by PGCIL, the Ministry of Power said after trading hours yesterday, 6 January 2015.
Tech Mahindra after market hours yesterday, 6 January 2015 announced that it has teamed-up with global telecom technology firm Avion Systems, to provide Network Design and Engineering Services to major Communications Service Providers. Tech Mahindra has been chosen as a minority investor at Avion Systems and the new joint venture will be called Avion Networks Inc. The joint venture aims to play a significant role as a strategic supplier of choice to the Carriers in the final deployment and management of current mobile networks and their planned transformation into the next-generation cloud enabled, virtual and software driven networks.
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Deepak Nitrite said that the company has issued Commercial Papers (CP) for Rs 15 crore value dated 6 January 2015. This has been subscribed by SBIFUND Management, having maturity on 15 April 2015. The aforesaid issuance of CP is to fund working capital requirement of the company, Deepak Nitrite said.
Financial Technologies (India) said before market hours that the board of directors of the company at its meeting held on 6 January 2015 has approved the postal ballot notice for obtaining shareholders' approval for sale of Bourse Africa (BAL), by FT Group Investments Pvt Ltd. The entire process of postal ballot is expected to be completed by end of February, 2015.
Cox & Kings said before market hours that the Finance Committee of Directors at its meeting held on 6 January 2015, has issued and allotted 72.50 lakh warrants to Standford Trading, a promoter group entity, entitling for subscription of equivalent number of equity shares of Rs 5 each at a price of Rs 309.82 per warrant including premium of Rs 304.82 per warrant as per provisions of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009. As the Company has allotted warrants, there is no change in the paid up Share capital of the company.
Dena Bank after market hours yesterday, 6 January 2015 said that the bank is planning to raise Basel lll compliant additional Tier 1 (AT1) Bonds for an amount of Rs 1000 crore, through Private Placement.
With respect to the media report stating "GMR to Bag Greater Noida's Jewar Airport Deal", GMR Infrastructure after market hours yesterday, 6 January 2015 clarified that it has not received any communication on this matter nor aware of any such event.
Punjab Alkalies & Chemicals said that the company has been informed by the Directorate of Public Enterprises and Disinvestment, Government of Punjab that the Pre-Bid meeting with prospective bidders regarding disinvestment in Punjab Alkalies & Chemicals, was held on 3 December 2014 and in the said meeting, inter-alia, the queries of the prospective bidders had been resolved and bidders were given time upto 17:00 IST on 5 December 2014 to raise their final queries, if any.
United Breweries (Holdings) said that the Hon'ble High Court of Karnataka has admitted six winding up petitions filed by the unsecured creditors/Bankers of Kingfisher Airlines by passing an appropriate order in this regard. The company is in the process of filing an appeal against the aforesaid admission order, United Breweries (Holdings) said.
Goodluck Steel Tubes said that shares of the company have been admitted to dealing on National Stock Exchange (NSE) (Capital Market Segment) with effect from 8 January 2015.
Jet Airways (India) has introduced additional flights from Delhi and Mumbai to Ahmedabad for guests travelling especially to the Vibrant Gujarat Summit 2015 scheduled between 11 to 13 January 2015. These additional flights are scheduled in a manner to provide convenient connectivity to guests arriving from the Gulf region, ASEAN and Europe, over the airline's two international hubs, Delhi and Mumbai.
Quadrant Televentures said that the Department of Telecommunications (DoT) has on 6 January 2015 granted to the company a "Unified License - ISP (Category- A) thereby permitting the company to provide internet services all over India. Earlier, the company was providing internet services in the Punjab Telecom Circle only under the "ISP (Category-B) License" granted by DoT for operations in Punjab Telecom Circle only.
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