Mastek said its board approved buyback of maximum of 32 lakh equity shares and minimum of 9.50 lakh equity shares from the open market at a price not exceeding Rs 250 per equity share for an aggregate amount not exceeding Rs 54.50 crore. The offer size represents 14.92% of the aggregate of the company's paid up equity capital and free reserves as on 31 March 2013.
Sobha Developers said after market hours on Wednesday, 8 Janaury 2014 that Brickwork Ratings has upgraded the rating of the company from BWR A- to BWR A for the aggregate long term bank loan facilities of Rs 973.50 crore sanctioned to the company. The rating BWR A stands for a credit facility that is considered to have adequate degree of safety regarding timely servicing of financial obligations.
Rashtriya Chemicals and Fertilizers (RCF) will be watched after the company said that the Department of Fertilizers (DoF) has ordered recovery of undue benefit earned by RCF in production of P&K fertilisers using cheap gas as feedstock.
However, the company termed the government order for the recovery as unjustified and discriminatory and said it would again take up this matter with the DoF. The recovery would be from the date of the office memorandum considering differential prices of fertilisers based on cost of imported ammonia and the APM gas.
RCF also added the proposed recovery is against the principles of nutrient based subsidy and amounts to an unfair treatment of one segment of the fertiliser sector. The demand for recovery is based on an erroneous presumption that the company is making windfall profits on premise that it is using cheap gas, which otherwise it is not entitled to, RCF said in a statement.
Indian Overseas Bank's board will meet on 13 January 2014, to consider interim dividend for the year ending March 2014.
Dena Bank's board will meet on 11 January 2014, to consider interim dividend for the year ending March 2014.
NHPC said after market hours on Wednesday, 8 January 2014 that a memorandum of understanding (MoU) has been signed on 6 January 2014 between the company and Government of Kerala for the development of Wind Power project by NHPC in Kerala. As per the agreement NHPC shall take up the grid interactive wind energy project with proposed installed capacity of 82 megawatts (MW) in Palakkad District of Kerala.
Union Bank of India said after market hours on Wednesday, 8 January 2014 that the board of directors of the bank at its meeting held on 8 January 2014 have declared an interim dividend of 27% or Rs 2.70 per share for the financial year ending 31 March 2014 (FY 2014). The bank has fixed 21 January 2014 as the record date for the purpose of payment of interim dividend. The date of payment of interim dividend shall be 29 January 2014.
Oriental Bank of Commerce said after market hours on Wednesday, 8 Janaury 2014 that a meeting of the board of directors of the bank will be held on 11 January 2014, to consider declaration of interim dividend on the paid up equity capital of the bank for the financial year ending 31 March 2014 (FY 2014).
Orient Abrasives said after market hours on Wednesday, 8 Janaury 2014 that the promoters of the company have sold on 8 January 2014 an additional 12 lakh shares held by them in the company (aggregating 1%) at a price of Rs 26.50 per share to Trincass Vyapaar.
Jaihind Projects said after market hours on Wednesday, 8 Janaury 2014 that the company has bagged two work orders from Indian Oil Corporation (IOC) worth Rs 30.39 crore & Rs 14.17 crore and one work order from Gujarat State Petronet (GSPL) worth Rs. 3.71 crore.
Work order worth Rs 30.39 crore was for Composite Mainline and combined station works for re-routing of existing Barauni-Kanpur Pipeline in different stretches between Mughalsarai & Kanpur for dedicated Freight corridor of Indian Railway.
Work order worth Rs 14.17 crore was for laying of 18 OD, 64 Km (app.) cross country crude oil pipeline by extending existing loop lines Group-B-from Dumri to Barauni (about 27 kms) and other associated works. Work order worth Rs 3.71 crore was for Parle Connectivity Projects (6" Dia X 5.587).
Shri Lakshmi Cotsyn's board will meet on 11 January 2014, to consider allotment of share warrants to promoters/non promoters/strategic investors on a preferential basis.
Four Soft's board approved the proposed merger of Palred Media and Entertainment and Pal Premium Online Media with Palred Technologies (formerly known as Four Soft). The board also approved the proposal of acquisition of Deals15.com from Premium Web Services.
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