Sesa Sterlite, HDFC, Dr Reddy's Laboratories, Asian Paints and IDFC unveil Q3 results today, 29 January 2015.
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, gave its approval to the proposal of HDFC Bank for maintaining the permissible foreign holding in the bank up to 74% of the total paid up capital and issuance of equity shares aggregating to an amount of Rs 10000 crore to NRIs/FIIs/FPIs subject to aggregate foreign shareholding not exceeding 74% of the post issue paid up capital. The approval would result in foreign investment of Rs 10000 crore (approximately) in the country.
Tata Power Company announced after market hours yesterday, 28 January 2015, that it has entered into a binding understanding with NELCO to purchase NELCO's defense business of unattended ground sensors (UGS) business on a slump sale basis for a total consideration of about Rs 8.3 crore. On purchase, UGS business will be housed in Tata Power's strategic engineering division (SED), a division of Tata Power, which is also a supplier of defense equipment and solutions. Acquisition of the UGS business will provide synergies to the existing business of Tata Power SED and has scope for growth and expansion.
Shares of companies engaged in mining of iron ore, manganese, bauxite and copper and shares of companies in the cement, aluminium and steel sectors which are the user industries of these minerals, will be in focus after Union Minister of Steel and Mines Narendra Singh Tomar yesterday, 28 January 2015, chaired a meeting of senior officials of Mines Ministry to review the progress of several actionables under the newly passed Mines and Minerals (Development and Regulation) (Amendment) Ordinance, 2015 (MMDR Ordinance 2015). This meeting was organised close on the heels of the 19 January 2015 meeting of state representatives on MMDR Ordinance, so as to firm up timelines for implementation of the Ordinance. The meeting was a follow-up of the meeting held on 12 January on the same issue. Emphasising the urgent need to revive mining in India, Tomar said, Our priority is not just to table the draft bill in next session of Parliament, but to start auctioning of mines in the least possible time.
Coal India will be watched as the government announced divestment of its stake in the company. The government has offered to sell 31.58 crore equity shares, or 5% equity, of face value of Rs 10 each with an option to sell an additional upto 31.58 crore equity shares, or 5% equity, of face value of Rs 10 each of Coal India, collectively aggregating to 10% of the total paid up equity share capital of Coal India through a sale on the separate window provided by the stock exchanges for this purpose. The sale shall commence on 30 January 2015 at 9:15 IST and shall close on the same day at 15:30 IST. The floor price for the OFS will be announced after market hours today, 29 January 2015.
The government has reserved 20% of the size of the sale for retail investors. Retail investors will be offered a discount of 5% to the bid price entered by them in accordance with the Sebi OFS circulars. A minimum of 25% of the sale shares will be reserved for mutual funds and insurance companies.
With reference to the news items titled, NMDC awards contracts to L&T, MEIL for steel plant, L&T clarified after trading hours yesterday, 28 January 2015 that in its press release dated 5 January 2015 titled 'L&T Construction Wins Orders Valued Rs. 4006 Crores' it had mentioned that its Water & Renewable Energy Businesses had secured new orders worth Rs 729 crore. The NMDC order was part of those orders.
Separately, with reference to the news titled L&T Keen to Make Nuke Reactors with US Firms, L&T clarified after trading hours that it has always mentioned about its presence in nuclear business at various occasions. Its press release dated 16 January 2009 titled "L&T Signs MOU with Westinghouse for Modular Nuclear Power Reactors" emphasised its role. Westinghouse is a US-based company. The exchanges were informed before releasing this press release, L&T said.
BPCL announced after trading hours yesterday, 28 January 2015 that it has set-up a Medium Term Note (MTN) Programme to facilitate the raising of funds on a regular basis from the international debt capital markets. The aggregate nominal amount of notes outstanding under the program will not exceed $2 billion or its equivalent in other currencies, BPCL said. Fitch Ratings has assigned a 'BBB-' rating and Moody's Investors Service has assigned a provisional (P) Baa3 rating to the MTN Programme.
Just Dial announced before market hours that net profit rose 8.03% to Rs 32.14 crore on 20.57% rise in total income to Rs 157.88 crore in Q3 December 2014 over Q3 December 2013.
Pidilite Industries' consolidated net profit rose 27.88% to Rs 124.36 crore on 12.31% rise in total income to Rs 1208.33 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 28 January 2015.
Telecom stocks will be in focus after the Union Cabinet, chaired by the Prime Minister Narendra Modi, yesterday, 28 January 2015 has approved the proposal of the Department of Telecommunication (DoT) to proceed with auction in 2100 MHz band alongwith 800, 900 and 1800 MHz bands. The Reserve price approved for 2100 MHz Band is Rs 3705 crore pan-India per MHz.
A 5 MHz Block will be offered in all service areas except Jammu & Kashmir, Bihar, Himachal Pradesh, West Bengal and Punjab. Thus a total of 85 MHz in 17 Licensed Service Areas (LSAs) is being put to auction. The estimated revenues from the auction of 2100 MHz Band are Rs 17555 crore of which Rs 5793 crore is expected to be realized in the current financial year.
Alstom T&D India's net profit fell 86.37% to Rs 2.58 crore on 9.86% decline in total income to Rs 766.47 crore in Q3 December 2014 over Q3 December 2013.
Poddar Developers said it raised Rs 124.99 crore by issuing 11.10 lakh equity shares at Rs 1,125.21 each to qualified institutional buyers (QIB). The QIB issue opened on 19 January 2015 and closed on 21 January 2015.
Sadbhav Engineering has reached in-principle understanding with Gammon Infrastructure Projects for sale of 1.03 crore equity shares of Rs 10 each held in Mumbai Nasik Expressway for an aggregate consideration of Rs 72 crore either by itself or through Sadbhav Infrastructure Project (subsidiary of the Company). Detailed agreements will be executed in due course. Mumbai Nasik Expressway is the special purpose vehicle to develop, operate and manage the Vadape to Gonde section of National Highway no. 3 in Maharashtra.
Shares of Century Plyboards India turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 0.75 per share for the year ending March 2015.
Shares of DB Corp turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 3.50 per share for the year ending March 2015.
Shares of Hatsun Agro Products turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 0.60 per share for the year ending March 2015.
Shares of Indiabulls Securities turn ex-dividend today, 29 January 2015, for an interim dividend of Re 1 per share for the year ending March 2015.
Shares of Indiabulls Housing Finance turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 9 per share for the year ending March 2015.
Shares of NHPC turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 0.20 per share for the year ending March 2015.
Shares of Persistent Systems turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 10 per share for the year ending March 2015.
Shares of Zensar Technologies turn ex-dividend today, 29 January 2015, for an interim dividend of Rs 4.50 per share for the year ending March 2015.
Cerebra Integrated Technologies announced after market hours yesterday, 28 January 2015, that the board of directors of the company at its meeting held on 28 January 2015, inter alia, has proceeded to allot 3.62 crore shares at a premium of Rs 0.50 each to strategic investors upon exercise of options by the foreign currency convertible bonds (FCCB) holders.,valued up to $6 million upon conversion of FCCBs issued on 19 December 2014:
Powered by Capital Market - Live News
