Shares of cement and metal companies and power generation firms will be in focus after the Ministry of Coal yesterday, 19 November 2014, placed in public domain the draft rules for auction/allocation of 204 coal blocks cancelled by the Supreme Court in September this year. The draft rules provide the process of allocation through auction and allotment. The central government will issue an order to the Nominated Authority specifying which coal mines are to be auctioned and which are to be allotted to the government companies. The Nominated Authority will prepare a 'Mine Dossier' for each mine containing the particulars of geographical area, coal reserves, mine infrastructure, approvals, permits, etc. in relation to such mine.
Eligibility to bid for Schedule II & III coal mines shall be dependent on the status of preparedness of their end use plant viz. 80% of investment made in the EUP for Schedule II mines and 60% of investment made in the EUP for Schedule III mines. In case of allotment to government companies, the progress of development of coal blocks by the applicant in the past, financial and technical capabilities of the applicant, status of preparedness of end use plant, per-capita power availability in the state of the applicant, its current and future requirements etc. will be the factors for selecting the allottee. The Nominated Authority may also specify the maximum number of mines and/or coal reserves that may be allocated to one or more persons.
The draft rules for auction/allocation of coal blocks also provide the manner of determination of compensation, priority of disbursal of proceeds arising out of land and mine infrastructure, determination of claims and manner of disbursement.
A successful bidder or allottee may utilize coal mined from a particular coal mine in any of its other similar end use plants by giving a prior intimation to the Central Government in writing and the Central Government may impose such terms and conditions as may be found necessary.
The coal ministry has invited comments on the draft rules for auction/allocation of coal blocks from the public and stakeholders. The comments and suggestions can be sent by 9:00 IST on Monday 24 November 2014, the coal ministry said.
L&T after market hours yesterday, 19 November 2014 in a clarification with regard to news item titled "L&T, Sojits win India railway order worth 50 bn Yen" said that Sojitz Corporation has informed on 19 November 2014 in the media about the above order received by the consortium and the same has been confirmed by L&T.
Infosys announced after market hours on Wednesday, 19 November 2014, that it will collaborate with Stanford Graduate School of Business (GSB) to create a comprehensive executive education program. As part of this agreement, Stanford GSB will team with senior Infosys executives to design and deliver a customized strategic leadership development program for the company's executives, clients and partners. The executive education program will include a suite of business management skills, as well as courses in corporate innovation processes to help Infosys balance business discipline and entrepreneurial spirit. The office of Executive Education at Stanford GSB and Infosys will deliver the leadership program through in-person and online instruction, as well as live sessions enabled by distance-learning technology. The initiative will include 200 executives who will each participate in a part-time, year-long program in groups of 40 over three years. Executives will be able to test and apply their learning to real business challenges in parallel, the company said in a statement.
State Bank of India (SBI) shares turn ex-split today, 20 November 2014. Each share of SBI having face value of Rs 10 will be divided into 10 shares of Re 1 face value.
Shares of Dr Reddy's Laboratories will be in focus on reports that the US Food and Drug Administration (FDA) has reportedly conducted a surprise inspection of the company's Vizag plant.
The National Stock Exchange (NSE) will include Amtek Auto, Bosch, Engineers India, Indiabulls Housing Finance, Strides Arcolab and Wockhardt in the future and option (F&O) segment with effect from 28 November 2014. Typically, stocks entering the F&O segment gain ground due to improved liquidity and absence of circuit filters in the F&O segment.
Greenply Industries after market hours yesterday, 19 November 2014 said that the company has fixed record date as 27 November 2014 for the purpose of ascertaining the name of shareholders of the company who will be eligible to receive the equity shares of Greenlam Industries with respect to the demerger of the Decorative Business (comprising of Laminates and Allied Products) of Greenply Industries with all its assets and liabilities into Greenlam Industries.
Tecpro Systems after market hours yesterday, 19 November 2014 said that the Corporate Debt Restructuring proposal of the company has been approved by the Corporate Debt Restructuring Cell, Mumbai vide its letter of approval bearing dated 11 November 2014.
Indiabulls Securities after market hours yesterday, 19 November 2014 said that Indiabulls Distribution Services, a wholly owned subsidiary of the company has acquired 100% of the share capital of India Land and Properties for a consideration of Rs 600 crore. India Land and Properties owns a commercial complex of 3 towers with a total constructed area of 2.4 million Sq. ft and leasable area of 2 million Sq. ft. The total land area of the complex is over 10 acres.
IL&FS Engineering and Construction Company bagged two individual contracts from PVVNL (Paschimanchal Vidhyut Vitran Nigam), a discom of Uttar Pradesh state for Rural Electrification (RE) works with value of Rs 145.55 crore and Rs 94.05 crore respectively totaling Rs 239.6 crore in Uttar Pradesh.
The first contract involves RE work of villages of Moradabad district and the second contract involves RE works of villages of Amroha (JP Nagar) district in Uttar Pradesh under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) 12th Plan on turnkey basis. The completion period for both these contracts is 24 months.
The Reserve Bank of India has increased the investment limit for foreign investors in Pennar Industries to 35% from 24% earlier in the company.
Aegis Logistics turns ex-dividend today, 20 November 2014, for interim dividend of Rs 2.50 per share for the year ending 31 March 2015.
Financial Technologies (India) turns ex-dividend today, 20 November 2014, for second interim dividend of Rs 5 per share for the year ending 31 March 2015.
Foseco India turns ex-dividend today, 20 November 2014, for third interim dividend of Rs 6 per share for the year ending 31 December 2014.
Tide Water Oil (India) turns ex-dividend today, 20 November 2014, for interim dividend of Rs 100 per share for the year ending 31 March 2015.
Timken India turns ex-dividend today, 20 November 2014, for interim dividend of Rs 3 per share for the year ending 31 March 2015.
Vaibhav Global turns ex-dividend today, 20 November 2014, for interim dividend of Rs 2.40 per share for the year ending 31 March 2015.
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