Axis Bank will be in focus after the Reserve Bank of India (RBI) after trading hours yesterday, 3 June 2015, announced that the restrictions placed on the purchase of shares of Axis Bank by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) have been withdrawn with immediate effect as the total shareholding of FIIs/RFPIs in the private sector bank has gone below the threshold limit.
Cipla after market hours yesterday, 3 June 2015, said that the company has received approval from United States Food & Drug Administration (USFDA) for an innovative formulation Lopinavir/ritonavir (LPV/r) 40mg/10 mg oral pellets for pediatric specific treatment for infants.
Indian Oil Corporation (IOCL) will be in focus. With regard to news item titled "IOC, HPCL in talks with Iraq's SOMO to buy 4m bbls oil for strategic reserves", IOCL after market hours yesterday, 3 June 2015, said that the Government of India has directed IOCL and HPCL to procure crude oil from Iraq for "Indian Strategic Petroleum Reserves", a wholly wwned Government company under the Ministry of Petroleum & Natural Gas set up for storage of strategic reserves. IOCL has only acted as a facilitator for import, the company said.
ICICI Bank turns ex-dividend today, 4 June 2015, for dividend of Rs 5 per share for the year ended 31 March 2015.
IRB Infrastructure Developers turns ex-dividend today, 4 June 2015, for interim dividend of Rs 2 per share for the year ended 31 March 2015.
PTC India Financial Services (PFS) has raised money through issuance of non-convertible debentures - Series 4 by way of private placement of Rs 213.50 crore. The debentures are redeemable over a period of 10 years, PFS said. The issuance has been fully subscribed by International Finance Corporation. The NCDs shall augment long-term resources and also help in lowering the cost of funds, it added.
Bayer CropScience said that the Board of Directors of the company at its meeting held on 3 June 2015, unanimously approved a buyback proposal for purchase by the company of upto 12.65 lakh equity shares (representing 3.45% of the total equity capital), from all the shareholders of the company on a proportionate basis through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998 (the "Buyback Regulations") at a price of Rs 4000 per equity share, aggregating to approximately Rs 506 crore in accordance with the provisions of the Companies Act, 2013 and the Buyback Regulations (the Buyback ). The Board noted the intention of the Promoter Group of the company to participate in the proposed buyback.
Seshasayee Paper and Boards after market hours yesterday, 3 June 2015 said that State Level Environment Impact Assessment Authority (SEIAA),Tamil Nadu, has granted environmental clearance (EC) for the company's Tirunelveli unit for enhancement of production of writing & printing paper from 72,000 tonnes per annum to 1.10 lakh tonnes per annum. The EC nod was also granted for the production of waste paper pulp - 58,000 tonnes per annum by recommissioning of de-inking plant for captive use. Further, the EC nod was also granted for augmenting power generation by 18 megawatts (MW).
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