State Bank of India (SBI) announced before trading hours today, 31 March 2015, that the Executive Committee of the Central Board (ECCB) yesterday, 30 March 2015, authorised divestment of SBI's stake in SBI Life Insurance Company by upto 10%.
Ashok Leyland after market hours yesterday, 30 March 2015, said that the company has divested its entire stake of 100% ownership interest held in Avia Ashok Leyland Motors s.r.o. to a strategic investor as part of restructuring of investment in subsidiaries. The transaction has resulted in the cash realization of $10.96 million to the company, Ashok Leyland said. The relevant agreements to this effect have been signed and closing of the deal has been completed. Consequent to the above, Avia Ashok Leyland Motors s.r.o. has ceased to be a wholly-owned subsidiary of the company with immediate effect.
NTPC said after market hours yesterday, 30 March 2015 that it debuted into hydro generation. Unit no. 2 of 200 megawatts (MW) of Koldam Hydro Power Project has been commissioned yesterday, 30 March 2015, NTPC said. With this, the total installed capacity of Koldam Hydro Power Project has become 200 MW and the total installed capacity of NTPC group crosses 44 GW and has become 44,003 MW, NTPC said.
Sesa Sterlite announced after market hours yesterday, 30 March 2015, that the shareholders of the company, inter-alia have approved by requisite majority, the name change of the company from its present name - Sesa Sterlite to Vedanta Limited, through Postal Ballot Results announced yesterday, 30 March 2015. Sesa Sterlite is the Indian subsidiary of London listed Vedanta Resources Plc which is a globally diversified natural resources company. The name change will enable the company to position itself strategically, create much greater value and align our businesses to a unified messaging, Sesa Sterlite said. Tom Albanese, Group CEO, Vedanta, said that the company wants to strengthen the linkage between the global business and global stakeholders, which reflects the company's commitment to creating value through a growing portfolio of global operations. The planned change in name of the company will have no impact on the operations of subsidiary companies Cairn India, Hindustan Zinc (HZL) and Bharat Aluminium Co. (BALCO) and the divisions of Sesa Sterlite, it added.
Tata Consultancy Services after market hours yesterday, 30 March 2015 announced that the first batch of students will graduate with BCom and BBA degrees with specialisation in Business Process Services designed by TCS in collaboration with academia in 2015-16. One hundred and fifty five students enrolled in the first batch of this unique industry-academia collaboration effort in 2013. Designed by TCS, this first of its kind 3-year full-time commerce degree with specialization in Business Process services, was deployed through Bachelor of Commerce and Bachelor of Business Administration programs in four institutions affiliated to the Bharathiar University, Coimbatore: PSG College of Arts and Science, Coimbatore (B.Com), Shri Krishna College of Arts and Science, Coimbatore (B.Com), PSGR Krishnammal College, Coimbatore (BBA) and Sree Saraswathi Thyagaraja College from Pollachi (B.Com in BPS).
Subsequently in 2014 the program has been extended to NGM College, Pollachi (B.Com) and Rathinam College, Coimbatore (B.Com). Overall 260 students have been enrolled for the second year's launch across 6 colleges. In 2015, the BPS specialization program will also be offered at Manipal University, Manipal, CMR Institute of Management Studies, Bangalore and St Joseph's College of Commerce (Autonmous), Bangalore, TCS said.
The BPS specialization program uses blended approach with exposure to core subjects, industry practices and domain knowledge. It incorporates 600 hours of learning designed by TCS in areas such as F&A, Banking, Capital Markets, Retail, and Insurance along with modules on managing Business Process Services, the company said. The program has evolved since it started 5 years ago with an initial focus on stand-alone certification courses to enhance employability and augment talent supply for BPS Industry. During the last 3 years, TCS in collaboration with a few colleges began offering offered electives for BCom and BBA students in the areas of F&A, Retail Analytics, and Insurance designed by TCS experts as well, it added.
Pidilite Industries said its board approved investment in equity shares of Nina Waterproofing Systems (Nina). The proposed shareholding of the company in Nina will be 70%, thereby making Nina a subsidiary of the company. Nina was incorporated on 11 November 2014 and proposes to engage in the business of supply, installation and application of waterproofing systems. The initial investment of the company in Nina will be about Rs 23.33 lakh. The board also approved additional investment upto Rs 100 crore in Nina.
SRF after market hours yesterday, 30 March 2015 said that Phase I of the project being production of first batch of the product (P17A) of the desirable quality has been achieved. Accordingly, Phase I of the project has been commissioned on 27 March 2015 at a cost of Rs 63 crores which has been capitalized. SRF's board of directors at its meeting held on 4 August 2014 had approved setting up of specialty chemical plant at SRF's Chemical Complex in Dahej, Gujarat, at an approximate cost of Rs 113 crore.
TD Power Systems bagged an order for supply of 10 Traction alternators from Diesel Locomotive Works, Varanasi (DLW), a production unit owned by Indian Railways and the largest diesel-electric locomotive manufacturer in India. These Traction alternators are mounted on EDM locomotives manufactured by DLW in India. The order is based on a provisional approval consequent to an RDSO capability audit of the company. The Journey commenced in March 2013 culminating into this trial order. After acceptance of the generators by DLW, the company stands to be eligible for significant orders especially with the massive capex plan that the Indian Railways announced in the recent Union budget, TD Power Systems said
Shares of Supreme (India) Impex will make their debut on the National Stock Exchange's EMERGE SME Platform today, 31 March 2015. The company had completed fund raising this month through a fixed priced initial public offer (IPO) at Rs 60 per share. The company promoted by Mr. Jugalkishore Jhawar is engaged in textile sector. The company makes fabrics, apparels, garments, dress materials etc. The company offers value-added work such as handwork, sequencing and embroidery on fabrics. It has recently diversified its presence into Multi Ply Yarn which is used in making home furnishing items like carpets, terry towels, fashion fabrics and others. As per the restated financials, the company reported consolidated net profit of Rs 2.70 crore on revenue of Rs 185.45 crore for the six-month period April-September 2014. As per the restated financials, the company reported consolidated net profit of Rs 5.26 crore on revenue of Rs 342.42 crore for the year ended 31 March 2014. The company proposes to utilize the funds raised from the IPO primarily for working capital requirements.
Powered by Capital Market - Live News
