Jindal Steel & Power (JSPL) board of directors will meet today, 30 August, 2013, to consider a proposal for buy-back of equity shares of the company.
State Bank of India (SBI) said after market hours on Thursday, 29 August 2013 that the interest rate for bulk deposits for the tenors 7 days to 60 days will be 9% per annum and for the tenor 61 days to less than one year will be 8.25% per annum with effect from 31 August 2013.
Sesa Goa said after market hours on Thursday, 29 August 2013 that the board of directors of the company at its meeting held on 29 August 2013 approved allotment of equity shares to the shareholders of Sterlite Industries (India) (Sterlite), The Madras Aluminium Company (MALCO) and Ekaterina (Ekaterina) pursuant to the Schemes of Amalgamation and Arrangement.
Hindalco Industries turns ex-dividend today, 30 August 2013, for dividend of Rs 1.40 per share for the year ended March 2013.
Ranbaxy Laboratories may reportedly post a foreign exchange loss of around $200 million in the September quarter because of wrong-way bets on currency hedges.
Reliance Industries and its partner BP Plc on Thursday reportedly won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block. RIL-BP plan to quickly bring satellite fields in the KG-D6 block to production to help reverse the decline in output. The block oversight committee, called management Committee (MC), headed by upstream regulator DGH, approved plans of RIL and its partners BP plc of UK and Niko Resources to produce 13-15 million standard cubic meters per day of gas for 13 years from D-34 discovery in the KG-DWN-98/3 or KG-D6 block, reports added.
Shares of Mahindra and Mahindra Financial Services will be in focus as the stock will be added in the MSCI India index effective from the close of today, 30 August 2013.
Infrastructure and realty stocks will be in focus as the path-breaking Land Acquisition Bill, which seeks to provide just and fair compensation to farmers while ensuring that no land can be acquired forcibly, was passed by the Lok Sabha with overwhelming majority on Thursday. The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 stipulates mandatory consent of at least 70% for acquiring land for Public Private Partnership (PPP) projects and 80% for acquiring land for private companies. The bill, which will replace over a century-old law, proposes compensation that is up to four times the market value in rural areas and two times the market value in urban areas. The bill was passed with 216 votes in favour and 19 against.
MphasiS announced 9.1% rise in consolidated net profit to Rs 193 crore on 9.6% rise in revenues to Rs 1540 crore in Q3 ended 31 July 2013 over Q2 April 2013.
Ganesh Ayyar, Chief Executive Officer, MphasiS said Our Direct business growth is a reflection of our strategy in action. Our investment in Data, Analytics and Mobility is experiencing growing demand.
Jet Airways (India) said it will introduce a second daily direct frequency from Mumbai to Singapore. This new service effective 1 November 2013 on Boeing 737-800 aircraft will compliment the night flight currently in operation, on the popular and high demand Mumbai-Singapore route. The company said that the new frequency into Singapore will also make Jet Airways the only Indian carrier to operate six daily direct flights connecting Singapore with Delhi, Chennai and Mumbai.
NHPC turns ex-dividend today, 30 August 2013, for a final dividend of Rs 0.60 per share for the year ended March 2013.
Gujarat Industries Power Company turns ex-dividend today, 30 August 2013, for a dividend of Rs 2.50 per share for the year ended March 2013.
Solar Industries India turns ex-dividend today, 30 August 2013, for a final dividend of Rs 6 per share for the year ended March 2013.
Development Credit Bank (DCB) has decided to hike its base rate and benchmark prime lending rate (BPLR) by 35 basis points (bps) each. The bank will hike its base rate to 10.85% per annum and BPLR to 18.10% per annum, with effect from 1 September 2013.
The board of Elder Pharmaceuticals has decided to skip dividend for the 15 months ended 30 June 2013.
Videocon Industries reported 78.79% fall in net profit to Rs 10.63 crore on 6.56% rise in total income to Rs 3283.92 crore in the quarter ended 30 June 2013 over the quarter ended 30 June 2012.
Shriram EPC's board of directors has approved the issue of optionally convertible debentures of Rs 100 crore and issue of cumulative redeemable preference shares of Rs 200 crore.
Gateway Distriparks (GDL) said the company has executed share sale agreement with Nichirei Logistics Corporation (Nichirei) to acquire Nichirei's stake of about 6% (7.4 million shares) in Snowman Logistics (SLL) for about Rs 25.90 crore. Post the acquisition, GDL's holding in SLL will increase to about 54%. Further the company has informed that, SLL has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on 29 August 2013, for an initial public offering (IPO) of its equity shares (42 million) for raising capital.
Nitesh Estates announced the launch of Nitesh British Columbia - a premium high rise condominium project off Kanakpura Road in South Bangalore. The announcement was made after market hours on Thursday, 29 August 2013.
Nitesh Estates said that the project is aimed at the first-time home buyers. Spread over 4.70 acres, Nitesh British Columbia worth Rs 300 crore, will have 388 apartments with their areas ranging from 1000 sq. ft to 1,600 sq. ft. There are 2 bedroom and 3 bedroom configurations on offer. The apartments are attractively priced at Rs 37 lakh onwards, the company said.
Launching the project, Mr. Ashwini Kumar, Executive Director and Chief Operating Officer, Nitesh Estates said, British Columbia is about great value through efficient space planning. Each apartment comes with great unobstructed open view, plenty of ambient lighting and ventilation. A clean fade, horizontal bands and clever use of 2 tone colours in an attractively landscaped campus with a well-planned clubhouse, pool and associated amenities make the project a beautiful setting for a community of 388 families.
Ravi Kumar Distilleries said that the strike announced by workers of the company on 1 August 2013 has been called off. The production activities have now resumed and normalcy has been restored in the operations, the company said.
Hanung Toys & Textiles said the company's board of directors has decided to withdraw recommendation for the payment of dividend keeping in view the strong protest by the banks against payment of dividend as earlier recommended in meeting held on 26 June 2013.
Jayant Agro Organics and Mitsui Chemicals, Inc. Japan and Itoh Oil Chemicals Co., Japan have together entered into a joint venture agreement for investing in the equity shares of Vithal Castor Polyols in the ratio 50:40:10 respectively. The joint venture will be focused on manufacturing castor oil based polyols through Vithal Castor Polyol.
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