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PSU OMCs in spotlight after fuel price revision

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Stocks of public sector marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of 'international financial services centre banking unit' at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moody's Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the company's subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the company's shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes' net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016. Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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PSU OMCs in spotlight after fuel price revision

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Oil Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Stocks of public sector marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of 'international financial services centre banking unit' at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moody's Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the company's subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the company's shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes' net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016. Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

PSU OMCs in spotlight after fuel price revision

Stocks of public sector marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of 'international financial services centre banking unit' at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moody's Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the company's subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the company's shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes' net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016. Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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