Interest rate sensitive auto, banking and realty stocks will be watched ahead of the Reserve Bank of India's (RBI) monetary policy meeting today, 6 April 2017. The RBI had left its key repo rate unchanged at 6.25% for the second time at its February 2017 meeting. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing. Purchases of both residential and commercial property are largely driven by finance.
IndusInd Bank said it proposes to raise funds by issue and allotment of rated, listed, non-convertible, perpetual, subordinated and unsecured basel III compliant bonds in the nature of debentures towards non-equity regulatory additional tier I capital (AT1 Bonds), for face value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.
Mahindra & Mahindra (M&M) announced that its Farm Equipment Sector (FES) launched Mahindra JIVO. A new age, superior technology small tractor platform in the sub 25 horsepower (HP) category, the Mahindra JIVO is suitable for row crop and horticulture farming. The tractor is available in the 4 wheel drive (WD) version with engine power of 24HP and power take-off (PTO) of 22HP. It will be sold in the states of Maharashtra and Gujarat from 25 April 2017 at a starting price of Rs 3.90 lakh for the 4WD model, ex-showroom Maharashtra. The announcement was made after market hours yesterday, 5 April 2017.
Repco Home Finance said its board will meet on 11 April 2017, to consider a proposal to raise Rs 272 crore by issuing secured, redeemable, non-convertible, non-cumulative, taxable debentures to International Finance Corporation on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.
Bank of India said it will hold an extraordinary general meeting (EGM) of shareholders on 4 May 2017 for their approval for issuing share capital by way of preferential issue to Government of India. The announcement was made after market hours yesterday, 5 April 2017.
Reliance Defence and Engineering scheduled a board meeting on Tuesday, 11 April 2017, to consider rights issue of equity shares upto Rs 1200 crore, which was approved at the board meeting held on 22 April 2016. The announcement was made after market hours yesterday, 5 April 2017.
Canada Pension Plan Investment Board (CPPIB) has on 5 April 2017, executed a Share Subscription and Purchase Agreement (SSPA) and Shareholders Agreement (SHA) with ISMDPL and the Phoenix Mills. Pursuant to the execution of the agreements, CPPIB proposes to invest in the equity share capital of ISMDPL in multiple tranches. CPPIB shall, in the first tranche, subject to fulfilment of the conditions precedent in the agreements, acquire 30% equity shareholding in ISMDPL through a combination of fresh equity subscription in ISMDPL and secondary transfer of equity shares held by the company in ISMDPL. Post the completion of first tranche investment by CPPIB, the company and CPPIB shall hold 70% and 30% respectively, of the paid up equity share capital of ISMDPL. The announcement was made after market hours yesterday, 5 April 2017.
Great Eastern Shipping Company announced that GGOS Labuan, a step-down subsidiary of the company, has been struck off from the registry under the provisions of the Labuan Companies Act, 1990 with effect from 4 March 2017. The announcement was made after market hours yesterday, 5 April 2017.
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