Shares of Monte Carlo Fashions will debut on the secondary equity market today, 19 December 2014. The company had priced the initial public offer (IPO) at the top end of the Rs 630 to Rs 645 price band. The initial public offer (IPO) of Monte Carlo Fashions was subscribed 7.83 times. The IPO received bids for 2.97 crore shares compared with 38.03 lakh shares on offer, as per data NSE data. The issue had opened for subscription on 3 December 2014 and had closed on 5 December 2014.
IT stocks will be in focus as Accenture posted strong Q1 results. The provider of consulting services reported better-than-expected results in its November quarter, boosted by strong growth in its outsourcing business. The company, however, did lower its earnings guidance for the year on higher foreign-exchange headwinds.
NTPC said its board will meet on 23 December 2014, to consider a proposal for issuing bonus debentures to its members, as the company has entered its 40th year of operations and is keen to reward its members for their continued support. These bonus debentures may be issued through a scheme of arrangement under Section 391-394 of Companies Act, 1956, subject to approval of the Board and receipt of requisite approvals under applicable laws.
With respect to news article titled "Leyland puts German arm Albonair for sale to cut debt" Kotak Mahindra Bank after market hours yesterday, 18 December 2014, stated that the said news Item itself carries a comment by a Kotak Group Spokesperson denying the rumour. Further, there is no information or fact, which the bank is obliged to disclose under clause 36 of the Listing Agreement.
The Reserve Bank of India (RBI) yesterday, 18 December 2014 said that registered foreign portfolios investors (RFPIs) can now invest up to 100% of the paid up capital of Crompton Greaves under the Portfolio Investment Scheme (PIS).
Punj Lloyd said that Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, Ministry of Finance, Government of India vide its Letter dated 15 December 2014 have approved the proposal of the company for manufacturing of equipment systems and associated assemblies for the defence sector. As per clause 4 of the above letter, foreign equity participation in the company including FDI & Investment by FII/FPI/FVCI/QFl/NRI through portfolio investment have been capped at 32.99% of the paid-up equity capital of the company.
Essel Propack announced allotment of 900 Rated, Listed Secured Redeemable Non-Convertible Debentures of face value of Rs 10 lakh each, aggregating to Rs 90 crore on private placement basis.
Petron Engineering Construction said it has received letter of Intent from NCC, Madhapur, Hyderabad for additional Services of erection, testing & assistance for commissioning, trial operation and handing over of critical piping as per technical specification for 2x600 megawatts (MW) NCC power plant at Nellore, and from Shree Cement, Beawar, Rajasthan for civil construction work of packing plant extension and fly ash unloading system with handling conveyor belt at Bangur Cement, Aurangabad for a total contract value of Rs 24 crore (excluding service tax).
GMR Holdings said its board will meet on 21 December 2014 to consider issuing non-convertible debentures through private placement, subject to approval of the shareholders.
State Bank of Travancore board meets today, 19 December 2014 to consider rights issue of equity shares.
Linc Pen & Plastics said that CRISIL has upgraded its credit rating on the bank facilities of the company. CRISIL upgraded its Long-Term Rating to CRISIL A/Stable from CRISIL A-/Stable. It also upgraded its short-term rating to CRISIL A1 from CRISIL A2+.
Balaji Telefilms, has marked its foray into the American Television market by inking an American Television Series production deal with Indus Media. This deal will see Balaji secure rights to the TV series Brown Nation, a satirical comedy based on the lives of Indian Americans. This will be the first series under the new deal and is being planned for release in early 2015.
Rollatainers said that the company has approved expansion plan of its food business which includes opening of 550 new outlets of its Barista chain in period of next 5 years.
Visa Steel said the Board of Directors of the company at its meeting held yesterday, 18 December 2014, had considered and approved the Scheme of Amalgamation of Kalinganagar Special Steel with VISA Steel and their respective shareholders and creditors (the Scheme) under sections 391 to 394 of the Companies Act, 1956. No shares are proposed to be issued pursuant to the Scheme, since Kalinganagar Special Steel is wholly owned subsidiary of VISA Steel. The said Scheme is subject to approval of High Court of Orissa and other statutory authorities as may be applicable.
The Reserve Bank of India (RBI) yesterday, 18 December 2014 said that registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme (PIS).
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