Bharti Airtel will be in focus after the Reserve Bank of India (RBI) gave permission to increase Registered Foreign Portfolios Investors (RFPIs) limit in the company to 74% of the paid up capital of Bharti Airtel under the Portfolio Investment Scheme.
State-run iron ore miner NMDC has kept price of iron ore unchanged for July 2014. In a communique to stock exchanges, NMDC said it has rolled over the June 2014, price of lump ore (Rs 4600 per tonne) and fines (Rs 3160 per tonne) to the month of July 2014. The company reviews prices every month.
Meanwhile, NMDC said that production rose 13.48% to 78.54 lakh tonnes in Q1 June 2014 over Q1 June 2013. Despatches rose 16.65% to 85.85 lakh tonnes in Q1 June 2014 over Q1 June 2013.
IT stocks may gain on positive economic data in US, the biggest outsourcing market for the Indian IT firms. US employers added 288,000 workers to nonfarm payrolls in June, following a 224,000 increase in May that was bigger than previously estimated. A 1.39 million increase in employment over the past six months was the largest since early 2006, while the unemployment rate fell to 6.1%, the lowest level since September 2008.
HDFC turns ex-dividend today, 4 July 2014, for dividend of Rs 14 per share for the year ended 31 March2 104 (FY 2014).
Kotak Mahindra Bank turns ex-dividend today, 4 July 2014, for dividend of Rs 0.80 per share for the year ended 31 March2 104 (FY 2014).
Sesa Sterlite turns ex-dividend today, 4 July 2014, for final dividend of Rs 1.75 per share for the year ended 31 March2 104 (FY 2014).
Glenmark Pharmaceuticals S.A., a wholly owned Swiss subsidiary of Glenmark Pharmaceuticals, announced after market hours on Thursday, 3 July 2014, that GBR 830, a novel monoclonal antibody is entering human trials. GBR 830 is a pure antagonist of OX40, a co-stimulatory receptor expressed on T cells mediating T cell activation and survival. OX40 is a very well validated target with the potential to treat a wide array of autoimmune diseases. Glenmark has now completed the Phase I enabling preclinical development program for GBR 830 and has filed a Phase I clinical trial application with The Netherlands authorities, it said.
Reliance Communications (RCom) clarified on media reports that the company will raise Rs 5000 crore by selling real estate. RCom said that no new event has happened which would require any intimation and disclosure. The company continues its efforts to deleverage or monetisation of assets. As and when any such actions require disclosures, the company will promptly disclose information, it added.
Aban Offshore said that the capital Issue committee of the company at its meetings held on 3 July 2014, approved the closure of QIP on 3 July 2014. It also approved the issuance of 1.07 crore equity shares of face value of Rs 2 to Qualified Institutional Buyers at an issue price of Rs 695.50 per equity share, which is at a discount or Rs 36.47 per share to the floor price Rs. 731.97 per equity share.
Powered by Capital Market - Live News
