Reliance Industries (RIL) will be watched ahead of the company's annual general meeting (AGM) today, 6 June 2013, amid speculations that the company may have new announcements about a potential tie-up with Reliance Communications (RCom).
On 2 April 2013, RIL's telecom unit Reliance Jio Infocomm and RCom had announced the signing of a definitive agreement for approximately Rs 1200 crore as one time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fiber optic network infrastructure. RCom had said at that time that the agreement between the two companies was the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and RCom to provide for optimal utilization of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets.
Cipla will be watched after Swedish drug firm, Meda, broadened its collaboration with Cipla, thereby expanding its exclusive rights to Dymista (a novel nasal treatment of allergic rhinitis) and future product development. Through the extended partnership, Meda now have full coverage in all growth markets in Latin- and South America, Middle East and Africa and Asia, including more than 120 new markets. Meda and Cipla will cooperate on product development of Dymista. Cipla will be responsible for formulation, while Meda will be responsible for clinical development, registration, marketing and sales. The companies will also collaborate on future production of Dymista and any new products developed.
In a separate announcement, Meda, which was recently reported to be in discussions with Sun Pharmaceutical Industries for a $5 billion stake sale, denied that it was in talks with any potential buyer.
Meda clarified in a statement that due to the recent speculation in the press and news media concerning Meda merging with another pharmaceutical company, the company has decided to inform the market that there are currently no such discussions. Meda's policy is not to comment on speculation and it will not do so in the future. This announcement is an exception to the company's policy, Meda said in a statement.
Mahindra & Mahindra (M&M) after market hours on Wednesday, 5 June 2013, said it unveiled sub-4 metre, compact car, the Verito Vibe. Designed and developed in-house by Mahindra, the Verito Vibe marks M&M's entry into the high volume compact car market. The new Verito Vibe will be available in Diesel engine only and will be available in three variants namely - D2, D4, D6. The price range for the Vibe will be from Rs 5.63 lakh (ex-showroom Mumbai) for the base D2 model, to Rs 6.49 lakh (ex showroom Mumbai) for the fully loaded top end D6.
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Allahabad Bank turns ex-dividend today, 6 June 2013, for dividend of Rs 6 per share for the year ended March 2013.
TCS turns ex-dividend today, 6 June 2013, for final dividend of Rs 13 per share for the year ended March 2013.
Asian Paints turns ex-dividend today, 6 June 2013, for final dividend of Rs 36.50 per share for the year ended March 2013.
Oriental Bank of Commerce turns ex-dividend today, 6 June 2013, for dividend of Rs 9.20 per share for the year ended March 2013.
Punjab & Sind Bank turns ex-dividend today, 6 June 2013, for dividend of Rs 2.68 per share for the year ended March 2013.
United Bank of India turns ex-dividend today, 6 June 2013, for final dividend of Rs 2.10 per share for the year ended March 2013.
The board of Mukand will meet today, 6 June 2013, to consider rights issue of shares.
Zuari Agro Chemicals said that it has resumed production of urea/ammonia.
Petronet LNG has invited bids for Rs 300 crore through book building process for issuing unsecured redeemable taxable non-convertible debentures (NCD) (Series I) for a period of five years through private placement basis. The cut off coupon rate is at 8.35% per annum.
The board of Infinite Computer Solutions (India) approved buying back equity shares of the company at a maximum price of Rs 120 per share for an aggregate amount not exceeding Rs 30 crore. The offer size represents 6.89% of the aggregate of the company's paid up equity capital and free reserves as on 31 March 2013.
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