ACC and Ambuja Cements will be in focus after the Competition Commission of India (CCI) on Saturday, 22 November 2014, invited comments from any person(s) adversely affected or likely to be affected by the proposed combination between Holcim and Lafarge S.A. Swiss cement major Holcim and French cement major Lafarge have announced a merger at the global level to form LafargeHolcim. In India, Holcim is active through its two subsidiaries viz. ACC and Ambuja Cements. Lafarge is active in India through its two unlisted subsidiaries viz. Lafarge India and Lafarge Aggregates & Concrete India. The CCI has formed a prima facie opinion that the combination is likely to have an appreciable adverse effect on competition in India.
The Reserve Bank of India (RBI) on Friday, 21 November 2014, placed restrictions on further purchases of shares of Power Grid Corporation of India (PGCIL) by foreign institutional investors (FIIs)/registered foreign portfolio investors (RFPIs). The RBI said that investment by FIIs/RFPIs in PGCIL under the portfolio investment scheme has reached has reached the trigger limit of 28%. Therefore, further purchases of equity shares of PGCIL by FIIs/RFPIs will be allowed only after obtaining prior approval of the RBI, it said. There is a cap of 30% holding by FIIs/RFPIs in PGCIL.
Bharat Heavy Electricals (Bhel) after market hours on Friday, 21 November 2014 in a clarfication with regard to news item titled "BHEL plans to set up two power plants of Rs 3000 crore in Russia" said that Bhel has not communicated the subject information to media persons. Further, Bhel said that the subject matter is at a proposal stage only and as such it is not a price sensitive information.
Ranbaxy Laboratories after market hours on Friday, 21 November 2014 in a clarification with regard to news item titled "Ranbaxy fails to block rivals in generic fight" said that as the company has earlier informed to the stock exchanges that the company has filed a complaint against the USFDA in D.C. Federal Court and has also asked the Court for a temporary restraining order to prevent any further action by FDA until Ranbaxy's case is decided. The Court has not granted Temporary Restraining Order to block FDA approval for other ANDAs for generic version of Nexium and Valganciclovir. However, the Court ordered the parties to the suit to agree up on a schedule for filing additional legal briefs addressing Ranbaxy's request for a preliminary injunction by Friday, 21 November 2014, Ranbaxy Laboratories said in a statement.
Infosys after market hours on Friday, 21 November 2014 said it has fixed record date as 3 December 2014 for the purpose of allotment of bonus shares in the ratio of 1:1.
Patel Engineering's net profit fell 66.72% to Rs 2.07 crore on 6.26% decline in total income from operations to Rs 680.22 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 21 November 2014.
Ahmednagar Forgings, Amtek Auto and Amtek India are set to announce Q4 September 2014 earnings today, 24 November 2014.
Sunil Hitech Engineers after market hours on Friday, 21 November 2014 said that the allotment committee of the company at their meeting held on 21 November 2014, allotted 20.50 lakh convertible warrants to promoter and non-promoter entities. Out of this total 20.50 lakh convertible warrants, 2,00,000 warrants are allotted to promoter Group (person acting in concert) viz. Mr. Venkataramana Condoor while four other non-promoters were allotted the remaining 18.50 lakh warrants among them.
Astral Poly Technik's board of directors at its meeting held on Friday, 21 November 2014, approved the proposal for acquisition of 76% equity shares of Resinova Chemie (Resinova) for a consideration of Rs 212.80 crore.
Mandhana Industries (MIL) before market hours today, 24 November 2014 said that at the meeting of the board of directors of the company held on 22 November 2014, the Board approved proposals in relation to the demerger of the company's retail and trading business of the brand Being Human to Mandhana Retail Ventures Limited (MRVL). Accordingly, two equity shares of MRVL would be issued to every shareholder holding three equity shares of MIL. The Board approved the draft scheme of arrangement between MIL and MRVL and their respective shareholders and creditors.
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