Tata Steel announced before market hours today, 14 January 2016, that the sharp fall in international steel prices due to excessive exports from China and other has triggered a review of Tata Steel's credit rating by Standard and Poor (S&P). The corporate credit rating has been downgraded by 1 notch. Tata Steel said that its long term corporate credit rating has been downgraded by S&P to BB- from earlier BB. Tata Steel UK Holdings' long term corporate credit rating has been downgraded to B+ from BB-. ABJA Investment Co. Pte.'s issue rating on its guaranteed senior unsecured notes has been downgraded to BB- from BB. S&P has affirmed B short term corporate credit rating on Tata Steel UK Holdings.
Infosys announces Q3 results today, 14 January 2016.
Power Grid Corporation of India announced after market hours yesterday, 13 January 2016, that the board of directors of the company at its meeting held on 12 January 2016 have accorded approval to investment proposals totalling Rs 2510.34 crore.
Tata Motors announced after market hours yesterday, 13 January 2016, that a meeting of the board of directors of the company will be held on 18 January 2016 to consider and approve buyback of the unsecured Non-Convertible Debentures aggregating Rs 200 crore due to mature on 30 November 2018 and unsecured Non-Convertible Debentures aggregating Rs 250 crore due to mature on 28 May 2019. The buyback is a part of its debt restructuring programme to ensure balanced maturity profile and/or better terms that would include lower cost of debt.
Hinduja Foundries announced before market hours today, 14 January 2016, that the board of directors of the company at its meeting held on 13 January 2016, have resolved to raise funds for the operation of the company upto Rs. 400 crore by way of issue of securities. The board resolved and authorized the finance committee, being a committee of the directors for the purpose of deciding the details of the issue of securities.
Agro Tech Foods announced after market hours yesterday, 13 January 2016, that the company has on 13 January 2016 completed purchase of land in Howrah (West Bengal) to an extent of 5.15 Bigha (apprx.1.7 acres) costing Rs 3.01 crore for expanding its manufacturing footprint in the eastern part of the country.
VRL Logistics announced after market hours yesterday, 13 January 2016, that it will add 51 buses over a period of next 6 months costing Rs 60 crore. The buses will be acquired with vehicle loans from bank/NBFCs.
MindTree announced after market hours yesterday, 13 January 2016, that a meeting of the board of directors of the company will be held on 18 January 2016, inter alia, to consider a proposal for issue of bonus shares.
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