Steel Authority of India (Sail) will be watched as the government has offered to sell 24.03 crore equity shares, or 5.82% stake, in Sail through Offer For Sale (OFS) route on stock exchanges. The offer will open on Friday, 22 March 2013 at 9:15 IST and it will close on the same day at 3:30 IST. The floor price for the share sale will be intimated after market hours today, 21 March 2013. As on 31 December 2012, the government held 85.82% stake in Sail.
Shares of cigarette major ITC may edge lower after the Maharashtra state government in its Budget for 2013-14 presented on Wednesday, 20 March 2013, raised the rate of tax on cigarettes to 25% from 20%.
Adani Power said its board will meet on 23 March 2013, to consider issue of equity shares to the promoter group on preferential basis.
3M India will be watched after its promoter, 3M Company, fixed Rs 3300 per share as the floor price for the proposed sale of 1.13 lakh equity shares of 3M India through Offer For Sale (OFS) route on stock exchanges. The OFS will open today, 21 March 2013 at 9:15 IST and close on the same day at 3:30 IST.
The board Oil & Natural Gas Corporation (ONGC) at its meeting held on 20 March 2013, have approved second interim dividend of Rs 4 per equity share for the financial year ending 31 March 2013.
Shares of ACC turn ex-dividend today, 21 March 2013 for a final dividend of Rs 19 per share for the year ended 31 December 2012.
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Shares of Oil India turn ex-dividend today, 21 March 2013 for a second interim dividend of Rs 12 per share for the year ending 31 March 2013.
L&T Finance Holdings' Committee of Directors at its meeting held on 20 March 2013, has approved the allotment of 5 crore, unlisted 8.75% cumulative compulsorily redeemable preference shares of face value Rs 100 each at par on private placement aggregating to Rs 500 crore to eligible allottees on pro-rata basis.
The board of National Aluminium Company (Nalco) at its meeting held on 20 March 2013, have approved payment of interim dividend Rs 0.75 per share for the financial year ending 31 March 2013.
Shares of jewellery makers may edge lower after the Maharashtra state government in its Budget for 2013-14 presented on Wednesday, 20 March 2013, increased the tax rate on gold, silver and their jewellery by 0.1% to 1.1% from 1% to raise fund for drought relief. The hike in tax is limited for one year i.e. only for the year 2013-14.
Shares of liquor maker United Spirits and beer maker United Breweries may edge lower after the Maharashtra state government in its Budget for 2013-14 presented on Wednesday, 20 March 2013, raised the excise duty on Indian Made Foreign Liquor (IMFL) and strong beer. Excise duty on IMFL has been hiked from Rs 240 Per Proof Litre (PPL) to Rs 300 PPL. The excise duty on strong beer has been raised from Rs 42 per bulk litre or 175% of manufacturing cost whichever is higher, to Rs 60 per bulk litre or 200% of the manufacturing cost whichever is higher.
Central Bank of India said it allotted 30.84 crore equity shares to Government of India on preferential basis at Rs 78 each, aggregating to Rs 2406 crore. With this allotment, shareholding of Government of India has increased to 85.31% from 79.15% earlier.
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