L&T, the promoter of L&T Finance Holdings (LTFH) after market hours on Tuesday, 10 June 2014, announced an offer for sale (OFS) up to 1.65 crore equity shares of face value of Rs 10 each, constituting 0.96% of the equity share capital of LTFH on Wednesday, 11 June 2014, through a separate window provided by the exchanges. The floor price for OFS has been set at Rs 74 per share. In addition to the sale shares, L&T may also sell up to 1.10 crore equity shares of face value Rs 10 each of LTFH in the sale on Wednesday, 11 June 2014. The sale shall take place at the separate window of the stock exchanges from 9:15 IST to 15:30 IST on Wednesday, 11 June 2014.
Bank stocks will be in focus after the representatives of the banks and financial institutions (FIs) held Pre-Budget consultation with Finance Minister Arun Jaitley on Tuesday, 10 June 2014. The industry's major suggestions to the Finance Minister included reduction in time limit and number of adjournments in case of SARFAESI Act (The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act) matters for early resolution, a statement in budget regarding recapitalization of public sector banks, dilution of government ownership in public sector banks up to 51%, implementation of recommendations of Naik Committee Report, removal of mismatch between asset liability and banks' balance sheets and need for revision of definition of priority sector lending among others.
Tata Motors will be in focus on reports that the India's largest automobile company in revenues, saw two more senior executives exiting from key positions. Venkatram Mammillapalle, Sr VP - purchasing and supply chain, and Rajesh Bagga, Sr VP - Legal at Tata Motors, have put in their papers, according to reports.
With respect to news article titled "UltraTech Cement to buy Jaiprakash Associates' Rewa cement plants", UltraTech Cement after market hours on Tuesday, 10 June 2014, said that the company does not comment on market speculation. Media reports said that UltraTech Cement is in talks to buy cement assets from Jaiprakash Associates, including Jaiprakash's Rewa cement-making complex in central India. Jaiprakash's Rewa cement-making complex has an annual capacity of 7 million tonnes. UltraTech last year agreed to buy a Jaiprakash cement unit based in Gujarat.
DCW after trading hours on Tuesday, 10 June 2014, said that a meeting of the Board of Directors of the company will be held on 18 June 2014, inter-alia to consider issue of equity shares of the company on preferential basis to promoters and promoter group.
Aksh Optifibre after trading hours on Tuesday, 10 June 2014, said that its wholly owned subsidiary -- AOL FZE, Dubai -- has commissioned a manufacturing unit in Jebel Ali Free Zone (JAFZA), Dubai, with installed capacity of 4 lakh km of Fibre Reinforced Plastic (FRP) Rods.
United Bank of India after trading hours on Tuesday, 10 June 2014, said that the Reserve Bank of India vide its letter dated 3 June 2014 has allowed the bank to consider loan proposals up to Rs 200 crore, taking exposure to AAA rated PSUs and corporate borrowers subject to ensuring credit deposit (CD) ratio not beyond 70% and CRAR not below 9% as on 30 June 2014.
Future Lifestyle Fashions after trading hours on Tuesday, 10 June 2014, said that the company has acquired 12% stake in Unico Retail, a company engaged in the business of handbags, belts and wallets under the brand "PEPERONE" in India.
Crompton Greaves (CG) after market hours on Tuesday, 10 June 2014 said that its Automation Business Unit has been awarded a significant contract for supply of 7.50 lakh smart meters from the Spanish utility Gas Natural Fenosa (GNF) and will be one of its main smart meter suppliers for the next two years.
GTL Infrastructure on Tuesday, 10 June 2014 said that a meeting of the Committee will be held on Wednesday, 11 June 2014, to consider allotment of equity shares consequent to conversion notice received for conversion of FCCBs at a conversion price of Rs 10 per share, in terms of the Offering Circular dated 17 October 2012.
JMT Auto's board of directors at its meeting held on Tuesday, 10 June 2014, approved the issue of bonus Shares to the shareholders of the company in the proportion of 5:2, i.e., five bonus equity shares of Rs 10 each for every two existing fully paid equity share of Rs 10 each held by such members.
Aurobindo Pharma turns ex-dividend today, 11 June 2014, for second interim dividend of Rs 1.75 per share for the year ended 31 March 2014 (FY 2014).
Hindustan Unilever turns ex-dividend today, 11 June 2014, for final dividend of Rs 7.50 per share for the year ended 31 March 2014 (FY 2014).
ING Vysya Bank turns ex-dividend today, 11 June 2014, for dividend of Rs 6 per share for the year ended 31 March 2014 (FY 2014).
Kansai Nerolac Paints turns ex-dividend today, 11 June 2014, for dividend of Rs 11 per share for the year ended 31 March 2014 (FY 2014).
Syndicate Bank turns ex-dividend today, 11 June 2014, for final dividend of Rs 3 per share for the year ended 31 March 2014 (FY 2014).
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