Shares of insurance companies will be in focus after Finance Minister Arun Jaitley yesterday, 17 November 2014, said he is expecting that Insurance Amendment Bill will be passed in the forthcoming winter session of parliament. He said that he is in touch with the Parliament Select Committee in this regard and will try to persuade it to give its report at the earliest.
Shares of infrastructure developers will be in focus after Finance Minister Arun Jaitley yesterday, 17 November 2014, said that he is in discussion with the members of opposition parties to make necessary procedural changes in Land Acquisition Act in order to avoid delay in the implementation of the infrastructure projects. Jaitley said that the government has taken series of measures to tackle various challenges being faced by the infrastructure sector in the country. The Finance Minister said that many more such measures are in offing in near future. Meanwhile, a Memorandum of Understanding (MoU) was signed yesterday, 17 November 2014, between Department of Economic Affairs (DEA), Ministry of Finance, Government of India and Department of Commerce, United States of America (USA) on establishing Infrastructure Collaboration Platform. The (MoU) establishes a United States-India Infrastructure Collaboration Platform, under which the governments of the two nations intend to coordinate and cooperate with the goal of facilitating US industry participation in Indian infrastructure projects to improve the bilateral commercial relationship and benefit both the Participants' economies, India's Ministry of Finance said in a statement.
Shares of liquor makers and shares of oil refining-cum-marketing firms will be in focus after Finance Minister Arun Jaitley yesterday, 17 November 2014, said that most of the contentious issues on the implementation of the Goods and Service Tax (GST) have already been resolved and that the state governments want to have taxation authority on liquor and petroleum products.
Tata Power Company after market hours yesterday, 17 November 2014 said it has issued and allotted the unsecured, non-cumulative, redeemable, taxable, listed, rated non-convertible Debentures of a face value of Rs 10 lakh each, on a private placement basis viz. 9.32% Series 1 aggregating Rs 1000 crore due November 2017 (Series 1 NCDs) and 9.48% Series 2 aggregating Rs 500 crore due November 2019 (Series 2 NCDs) (Series 1 NCDs and Series 2 NCDs hereinafter collectively referred to as NCDs). These NCDs have been rated ICRA AA (with negative outlook) by ICRA and CARE AA by CARE. These NCDs have been issued on a private placement basis through a private placement offer letter cum information memorandum addressed specifically to certain eligible investors and which is not intended to be an advertisement, invitation, offer, sale or solicitation of an offer to the public at large for investing in the NCDs, Tata Power Company said.
Reliance Jio Infocomm (RJIL) on Monday, 17 November 2014 signed syndicated term loan facilities aggregating to $1.5 billion. The facility is guaranteed by Reliance Industries (RIL) and will be used to refinance the syndicated term loan facilities.
The overall bank group saw participation from banks all over the world, including North America, Europe, Australia, Asia and the Middle East. The term loan syndication saw a total of 26 banks participate in the Facility.
Apollo Hospitals Enterprise after market hours yesterday, 17 November d2014 in a clarification with regard to news item titled "Apollo Hospitals to open 500 sugar clinics by 2019", said that the quote by Mr Gagan Bhalla, CEO of Apollo Sugar referring to the plan to open 500 clinics across the country and outside by 2019 is only a statement of broad intent. The statement relating to the plan to open 50 clinics in the country by the end of the year already appears in the statement communicated to the stock exchanges on 30 September 2014, the company said.
Financial Technologies (India) (FTIL) after market yesterday, 17 November 2014, said that the board of FT Group Investments Mauritius (FTGIPL). a wholly owned subsidiary of FTIL on 17 November 2014 approved the sale of 100% of its stake in Bourse Africa, Mauritius (together with its wholly owned subsidiary Bourse Africa Clear) to Continental Africa Holdings (CAHL), Mauritius, for $40.5 million, subject to certain approvals in Mauritius and in India, as may be applicable. FTGIPL on 17 November 2014 signed a definitive agreement with CAHL, subject to certain customary closing conditions. The entire transaction is expected to be completed within the next 210 days, FTIL said.
Eco Friendly Food Processing Park after market hours yesterday, 17 November 2014, said that its board of directors will meet on 21 November 2014, to consider 10-for-1 stock split.
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