PSU OMCs will be in focus after announcing a reduction in petrol and diesel prices after trading hours yesterday, 30 June 2015. Indian Oil Corporation (IOCL) reduced retail selling price of petrol by Rs 0.31 per litre at Delhi (including state levies) with corresponding price revision in other states. The price reduction is effective from midnight of 30 June 2015/1 July 2015. The company announced reduction in retail selling price of diesel by Rs 0.71 per litre at Delhi (including state levies) with corresponding price revision in other states.
IndusInd Bank said that in respect of the QIP, the Finance Committee of the Bank at its meeting held on 30 June 2015, has approved the closure of the QIP on 30 June 2015, approved the issue price of Rs 845 per share for the equity shares to be allotted to eligible qualified institutional buyers in the QIP; and approved and adopted the Placement Document (PD) dated 30 June 2015, in connection with the QIP. The announcement was made after market hours yesterday, 30 June 2015.
Rating firm Moody's Investors Service has reportedly downgraded state-owned Bank of India and Canara Bank a notch down in terms of Baseline Credit Assessments (BCAs) on asset quality concerns. It has downgraded the BCA of Bank of India and Canara Bank to ba3 from ba2 on account of rise in Non-performing asset (NPA). Canara's BCA could be upgraded if there are substantial improvements in the bank's asset quality metrics, Moody's reportedly said in a statement. There could be upward pressure on its BCA if the bank is able to demonstrate access to equity capital markets as well, reports added.
Crompton Greaves said that the company has received further communication from Avantha Holdings stating that the regulatory approvals for divesting its entire shareholding in Crompton Greaves Consumer Electricals, have been obtained from Reserve Bank of India and Competition Commission of India. The announcement was with reference to the earlier announcement of the company on 23 April 2015 regarding one of the entities of the promoter group of the Company (Avantha Holdings ("AHL")) proposes to divest its entire shareholding in Crompton Greaves Consumer Electricals ("CGCEL"). The announcement was made after market hours yesterday, 30 June 2015.
Mphasis yesterday, 30 June 2015 announced the signing of a definitive agreement to transfer a significant portion of its domestic business, subject to regulatory approvals, to Hinduja Global Solutions (HGS), a global BPM leader in optimizing customer experience for clients.The announcement was made after market hours yesterday, 30 June 2015.
Chambal Fertilisers and Chemicals has entered into an agreement to sell its textile business to Sutlej Textiles and Industries. The unit Birla Textile Mills (BTM) located at Baddi in Himachal Pradesh, will be sold on a 'slump sale' basis subject to requisite approvals. The announcement was made after market hours yesterday, 30 June 2015.
Sasken Communication Technologies said that the company plans to buy back 41.57 lakh shares representing 19.48% of the total paid-up equity share capital of the company. The buy-back offer would be at the price of Rs 260 per share. The announcement was made after market hours yesterday, 30 June 2015.
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