Tata Power Company after market hours yesterday, 11 December 2014 said it has signed a memorandum of understanding (MoU) with Russian Direct Investment Fund (RDIF) to develop investment opportunities in the energy sector. The agreement was signed during the state visit of Russian President Vladimir Putin to India. RDIF and Tata Power will cooperate on identifying and targeting investment opportunities in the energy sector across Russia in order to develop mutually beneficial transactions.
Wipro after market hours yesterday, 11 December 2014 said that Wipro Inc Benefit Trust sold 18.10 lakh shares of Wipro (over 9 December 2014 to 11 December 2014) at an average market price of Rs 552.43 per share.
IDFC after market hours yesterday, 11 December 2014 in a clarification with regard to news item titled "Essar Oil to sign 10-year deal with Rosneft today" said that a Memorandum of Understanding to promote joint investments helping in accelerating economic cooperation between Russia and India has been executed between IDFC and Russian Direct Investment Fund, however the company has not yet entered into any binding agreement and is subject to compliance of various conditions in this respect. Since the said transaction is at a very preliminary stage, the company is not considering the above information as price sensitive, IDFC said.
Dr Reddy's Laboratories after market hours yesterday, 11 December 2014 in a clarification with regard to news item titled "Germany bans 80 generic drugs for insufficient trials" said that the company through its local entity Betapharm is proceeding in line with the instructions of the regulator. Overall impact on the financials of this action is expected to be non-material, Dr Reddy's said.
Essar Oil and Rosneft yesterday, 11 December 2014 signed key terms of oil and oil products supplies to Essar refineries in India. Supplies may begin in 2015. Consequently Rosneft expands its distribution area and builds up deliveries to the region, where the world's economy growth zones are concentrated. This agreement grants Rosneft a secure market outlet of oil and oil products, while Essar gains a reliable and stable partner as a supplier of oil and oil products to its refining facilities.
Talking on the agreement Founder of Essar Oil, Shashi Ruia said: "This provides good long term raw material security to our refineries". The company made the announcement after market hours yesterday, 11 December 2014 in clarification to media reports titled "Essar Oil to sign 10-year deal with Rosneft today"
IL&FS Engineering and Construction Company (IECCL) after market hours yesterday, 11 December 2014 said that the company's subsidiary Maytas Infra Saudi Arabia (MISA) has received a contract from Saudi Binladin Group for construction of Abraj Kudai Project-P1360, Makkah in Kingdom of Saudi Arabia (KSA). The total value of the contract is Saudi Riyals 290.27 Million (equivalent to Rs 464 crore approx.) and the completion period is 32 months. The scope of work involves supply, delivery, installation, supervision, as built, and handing over of structural and reinforcement concrete works for two towers - 2A & 3A which are both 230 mts in height. MISA recently commenced work on Road Drainage Works for King Abdul-Aziz International Airport Development Project-Phase 1, Jeddah in KSA worth Rs 268 crores (approx.), IECCL said.
Hikal has scheduled a meeting of the Board of Directors of the company on 17 December 2014, to consider the sub division of equity shares. The announcement was made after market hours yesterday, 11 December 2014
Enkei Wheels (India) said the Board of Directors of the company at its meeting held on 11 December 2014, has allotted 6.71 lakh shares at Rs 50 to its Promoter Enkei Corporation, Japan on preferential basis. The shareholders of the company have already accorded their consent for this issue in their meeting held on 13 December 2013, Enkei Wheels (India) said. The announcement was made after market hours yesterday, 11 December 2014
Era Infra Engineering after market hours yesterday, 11 December 2014 said that the company has been awarded the Building work "Construction of New Paid Ward Including Associated Works, Operation & Maintenance during defect liability period in AIIMS Campus, Ansari Nagar, New Delhi for AIIMS, New Delhi" by HSCC (India) at an estimated cost of Rs 92.04 crore.
Rishi Laser scheduled a meeting of the Board of Directors of the company on 19 December 2014, to consider and approve the preferential issue of shares/warrants.
City Union Bank said that the Bank have inaugurated its 437th branch on 11 December 2014 at Chinniyampalayam, Coimbatore. The announcement was made after market hours yesterday, 11 December 2014
Sakthi Sugars Ltd said that Sakthinagar Sugar Unit of the company has commenced its cane crushing operation for the season 2014-15 from 11 December 2014.
Allahabad Bank said that CRISIL Ratings has assigned "AA+/Negative" (pronounced "CRISIL double A plus with negative outlook") rating to the Bank's proposed Basel -III compliant Tier 2 Bonds aggregating Rs 500 crore. Further, the outstanding ratings of the Bank's Existing, Lower Tier 2, Upper Tier 2 and Innovative Perpetual Debt Instruments (IPDI) Bonds have also been re-affirmed by CRISIL and CARE.
Tanla Solutions said that Tanla Mobile and Mufithumb Corporation are 100% subsidiary companies of the company and Board of Directors of the company at its meeting held on 11 December 2014, has taken note of proposed amalgamation of said subsidiary companies i.e. Tanla Mobile (Transferor Company) with Mufithumb Corporation (Transferee Company), for strategic and administrative reasons.
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