Shares of state-run Coal India will be in focus as the company holds a board meeting today, 14 January 2014, to consider payment of interim dividend, if any, for the year ending 31 March 2014. Coal India has fixed 20 January 2014 as the record date for the purpose of payment of interim divided. There is speculation that the company may announce a hefty interim dividend.
The market has been abuzz with rumours that the government may force cash rich state-run firms to declare hefty interim dividend to enable the government to meet the fiscal deficit target for the current year.
Bharti Airtel announced after market hours on Monday, 13 January 2014, that its subsidiary, Bharti Airtel International (Netherlands) BV, has approached investors for the re-opening of euro 750 million, 4% Senior Notes due 10 December 2018.
CMC reported 4.79% rise in consolidated net profit to Rs 70.54 crore on 0.03% rise in total income from operations (net) to Rs 560.96 crore in Q3 December 2013 over Q2 September 2013. The Q3 earnings were announced after market hours on Monday, 13 January 2014.
Reliance Industrial Infrastructure's net profit declined 3.02% to Rs 6.09 crore on 0.04% growth in income from operations to Rs 20.84 crore in Q3 December 2013 over Q3 December 2012. The Q3 earnings were announced after market hours on Monday, 13 January 2014.
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The Foreign Exchange Promotion Board on Monday, 13 January 2014 cleared the Rs 6400 crore foreign direct investment plan of GlaxoSmithKline to acquire an additional 24.33% stake in its India arm. The Singapore subsidiary of the British pharma major plans to buy 24.33% stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals through an open offer. After the purchase, the holding of the promoter group firms in the Indian subsidiary will go up to 75% from the current level of 50.67%. The open offer for tendering of shares is scheduled to remain open from 7 to 21 February 2014.
The Gujarat high court on Monday, 13 January 2014 reportedly ordered a shutdown of the 12 industrial units at the industrial enclave run by Adani Ports and Special Economic Zone (APSEZ) in Mundra. According the court, the company violated environment norms by allotting land to individual units without the mandatory environment clearance required under the Environment Impact Assessment notification of 2006.
Corporation Bank said its board will meet on 23 January 2014, to consider interim dividend, if any, for the financial year ending March 2014. The bank has set 29 January 2014 as the record date for the purpose of determining the shareholders eligible to receive interim dividend.
Bank of India said its board will meet on 17 January 2014, to consider interim dividend, if any, for the financial year ending March 2014. The bank has set 24 January 2014 as the record date for the purpose of determining the shareholders eligible to receive interim dividend.
Gujarat Apollo Industries said its board will meet on 18 January 2014, to consider a proposal of buyback of equity shares of the company.
Brigade Enterprises said that credit ratings agency ICRA has upgraded its credit rating on the company from [ICRA]BBB+ to [ICRA]A- for the long term credit facilities of Rs 1403.79 crore from banks. The outlook on the long term rating is stable.
Alphageo (India) said it won an extension for additional volume of work for an estimated contract value of Rs 15.71 crore from Oil India for its existing contract 3D seisloop seismic data acquisition in the state of Mizoram. The extended volume of work is likely to be completed by end June 2014.
Burnpur Cement said its board will meet on 15 January 2014, to consider enhancement of working capital loan or other credit facilities sanctioned by Stake Bank of India, SME Branch, Asansol.
Deccan Chronicle Holdings said its board will meet on 16 January 2014, to consider the proposal for issuing equity shares on preferential basis.
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