Maruti Suzuki India said after market hours on Tuesday, 7 October 2014, production rose 26.17% to 1.16 lakh units in September 2014 over September 2013. The company had said on 1 October 2014, its total sales rose 4.6% to 1.09 lakh units in September 2014 over September 2013.
The board of Essar Oil has decided to seek the consent of the shareholders through postal ballot process to borrow upto Rs 50000 crore over and above the aggregate of the paid up share capital of the company and its free reserves.
National Buildings Construction Corporation (NBCC) said after market hours on Tuesday, 7 October 2014, that IIT Kanpur has awarded to NBCC, project management consultancy work for major construction works such as engineering core lab, research complex(phase-I) and retrofitting of aerospace engineering block multistoried building for Rs 337.97 crore.
The board of Canara Bank approved raising additional Tier-I instruments amounting to Rs 1500 crore through issue of Basel III complaint additional Tier-I perpetual bonds by way of private placement, to support the asset growth during 2014-15 and maintain comfortable level of CRAR. Further, the board approved constituting a bond committee to determine the structure of the issue size, tenor, coupon, timing of the issue and to decide on the other connected matters.
Jindal Stainless said after market hours on Tuesday, 7 October 2014, that pursuant to the directions of the board of directors, the Reorganisation Committee, in consultation with reputed advisors, consultants and legal counsel, has submitted a draft Asset Monetization and Business Reorganization Plan (AMP) to the domestic lenders of the company for their consideration. The AMP is aimed to facilitate enhancement of the networth and viability of the company and unlock value of the stakeholders. Once approved, the company will take the necessary steps for the effective implementation of the AMP in accordance with applicable laws. The board of directors of the company at its meeting held on 10 February 2014 had, inter alia, constituted a 'Reorganization Committee' to explore and evaluate various options of reorganizing the company's assets in an optimal way. The board of directors of the company had, at its meeting held on 8 August 2014, inter alia, advised the Reorganization Committee to expedite the process of exploring various options with the concerned stakeholders in accordance with the mandate given by the board of directors at its meeting held on 10 February 2014.
With regards to news item captioned, "State-owned oil firms to bid together for LNG blocks abroad", BPCL clarified that the company, HPCL, Indian Oil Corporation and Gujarat State Petroleum Corporation are Government companies in discussion with International Gas Suppliers with a view to have long term supply arrangement based on market conditions which are part of regular business process. It is clarified that there is no proposal presently for bidding jointly for blocks abroad. BPCL has not so far signed any agreement with foreign players for import of gas, BPCL said.
Trident announced the inauguration of the world's largest terry towel plant and laying of foundation stone of its composite textile project in Budni, Madhya Pradesh. The plant comprises of 300 looms and will add about Rs 1800 crore to its annual revenue. With this expansion, the installed capacity of Trident has increased to 688 looms capable of producing 90,000 TPA of terry towels, making Trident the largest manufacturer of terry towels in the world.
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