Deepak Fertilisers & Petrochemicals Corporation said that its wholly-owned subsidiary, SCM Soilfert, acquired 2.89 crore equity shares, representing 24.46% stake, in Mangalore Chemicals & Fertilisers.
Mahindra & Mahindra (M&M) announced after market hours on Wednesday, 3 July 2013, that it has successfully placed a non convertible debentures (NCD) series of 50-year maturity for Rs 500 crore on private placement basis. The NCDs will be unsecured, rated, listed, redeemable at the end of 50th year and will carry a coupon of 9.55% per annum payable annually. The proceeds of this issue will be used for capex, long term working capital requirements and refinancing of loans taken for capital expenditure, M&M said in a statement. Credit rating agencies, CRISIL and ICRA have assigned AA+/stable rating to the issue.
Mahindra Satyam, which merged into Tech Mahindra last month, will stop trading on BSE and NSE from today, 4 July 2013. IT services firm Tech Mahindra on 25 June 2013 announced the completion of Mahindra Satyam's merger with itself. The merged entity is amongst the top 5 Indian IT services companies, with revenue of $2.7 billion, a team of 84,000 professionals servicing 540 customers across 46 countries.
The board of directors of Tech Mahindra at its meeting held on 25 June 2013 fixed 5 July 2013 as the record date for determining the shareholders of Mahindra Satyam who would be entitled to receive shares Tech Mahindra as per the amalgamation scheme. The swap ratio for merger has been fixed at two shares of Tech Mahindra for every 17 shares held in Mahindra Satyam.
Future Ventures, formerly an investment arm of the Future Group, will re-list on stock exchanges today, 4 July 2013, as a food and FMCG company. The company was de-listed from stock exchanges in January this year due to restructuring within the group.
ALSTOM India said after market hours on Wednesday, 3 July 2013, that it was awarded a contract by Bharat Heavy Electricals Limited (Bhel) to supply components and services for the 2x660 megawatts (MW) Suratgarh Super Thermal Power Project, located in Suratgarh, Rajasthan, India. Out of the entire aforesaid contract, the company's scope of work mainly comprises of supply of partial pressure parts for one of the units, few control and instrumental valves and other site services. The value of company's scope of work would be Rs 101.74 crore (15.04 million euros), ALSTOM India said in a statement.
Bank of India said after market hours on Wednesday, 3 July 2013, that it has decided to reduce its base rate from the existing 10.25% per annum to 10% per annum with effect from 8 July 2013.
Karnataka Bank said after market hours on Wednesday, 3 July 2013, that it has tied up with TimesofMoney, the pioneer in cross border payments to offer a simple and secure internet based online money transfer solution to all NRls (Non-Resident lndians). As part of its NRI business strategy, the bank has partnered with TimesofMoney to offer an online remittance platform for NRls across 23 countries including Gulf countries, US, UK, Singapore etc. With this partnership, NRls can use the Karnataka Bank website to transfer money online from 23 countries leveraging TimesofMoney's expertise in cross border remittances. This ensures that NRls get the state-of-the-art service through Karnataka Bank which is fast, safe & secure besides competitive both in terms of exchange rate & transfer fees.
Bajaj Auto turns ex-dividend today, 4 July 2013, for dividend of Rs 45 per share for the year ended 31 March 2013 (FY 2013).
Bajaj Finserv turns ex-dividend today, 4 July 2013, for dividend of Rs 1.50 per share for the year ended 31 March 2013 (FY 2013).
Bajaj Holdings & Investment turns ex-dividend today, 4 July 2013, for dividend of Rs 25 per share for the year ended 31 March 2013 (FY 2013).
Bajaj Finance turns ex-dividend today, 4 July 2013, for dividend of Rs 15 per share for the year ended 31 March 2013 (FY 2013).
Canara Bank turns ex-dividend today, 4 July 2013, for dividend of Rs 13 per share for the year ended 31 March 2013 (FY 2013).
Kotak Mahindra Bank turns ex-dividend today, 4 July 2013, for dividend of 70 paise per share for the year ended 31 March 2013 (FY 2013).
KPIT Cummins Infosystems turns ex-dividend today, 4 July 2013, for dividend of 90 paise per share for the year ended 31 March 2013 (FY 2013).
Maharashtra Scooters turns ex-dividend today, 4 July 2013, for dividend of Rs 20 per share for the year ended 31 March 2013 (FY 2013).
Ashok Leyland turns ex-dividend today, 4 July 2013, for dividend of 60 paise per share for the year ended 31 March 2013 (FY 2013).
Atul Auto turns ex-dividend today, 4 July 2013, for final dividend of Rs 6 per share for the year ended 31 March 2013 (FY 2013).
Mahindra & Mahindra Financial Services turns ex-dividend today, 4 July 2013, for total dividend of Rs 3.60 per share for the year ended 31 March 2013 (FY 2013).
Mastek turns ex-dividend today, 4 July 2013, for dividend of Rs 3 per share for the year ended 31 March 2013 (FY 2013).
United Phosphorus turns ex-dividend today, 4 July 2013, for dividend of Rs 2.50 per share for the year ended 31 March 2013 (FY 2013).
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