Tata Steel announced that it proposes to sell 8.36 crore shares of face value of Rs 2 each of Tata Motors to Tata Sons. The transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure. The announcement was made on Saturday, 17 June 2017.
POWERGRID Warora Transmission, a 100% subsidiary of Power Grid Corporation of India, secured through Tariff Based Competitive Bidding, has successfully completed an element Gadarwara STPS - Jabalpur Pool 765 kV D/C transmission line and declared the element for commercial operation on 31 May 2017. The announcement was made after market hours on Friday, 16 June 2017.
Dr Reddy's Laboratories announced that the audit of its Formulations Srikakulam Plant (SEZ) Unit I, Andhra Pradesh, by the USFDA, has been completed on 16 June 2017. The company has been issued a Form 483 with one observation. The announcement was made after market hours on Friday, 16 June 2017.
IndusInd Bank has acquired 75 lakh shares of Rs 10 each, pursuant to exercise of conversion option on 'Optionally Convertible Redeemable Preference Shares', i.e., conversion of each Optionally Convertible Preference Share held by the bank into 10 shares of Kesoram Industries at a price of Rs.120 per share. The announcement was made on Saturday, 17 June 2017.
Axis Bank has revised Marginal Cost of Funds based Lending Rate (MCLR) rates in the short tenors. The 1 year MCLR stands unchanged at 8.25%. New rates are effective from 17 June 2017. The announcement was made after market hours on Friday, 16 June 2017.
NTPC has commissioned 225 megawatts (MW) out of 250 MW of Mandsaur Solar Power Project of NTPC. With this, the installed capacity of NTPC's solar power projects has become 845 MW. The total installed capacity of NTPC on standalone basis has become 44419 MW and that of NTPC group has become 51635 MW. The announcement was made after market hours on Friday, 16 June 2017.
MSPL Steel & Power said that the board of directors of the company approved conversion of 6% redeemable non-cumulative preference shares to equity shares owing to the Scheme for Sustainable Structuring of Stressed Assets.
The board also approved implementation of Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme) and conversion of loan by lenders into equity shares/optionally convertible debentures (OCDs) of the company and also issue and allot pursuant to implementation of the Reserve Bank of India S4A Scheme for the company. The announcement was made on Sunday, 18 June 2017.
Wheels India and Topy Industries, Japan have reached an agreement regarding a strategic partnership in the passenger car steel wheels business in India, whereby Topy will invest a 26% stake in WIL Car Wheels, a wholly owned subsidiary of Wheels India. The investment will be made through new issue of equity shares by WCWL to Topy. The announcement was made after market hours on Friday, 16 June 2017.
WCWL was set by WIL to carry on the passenger car steel wheel business in India. WIL has entered into agreements to transfer its entire passenger car steel wheel business carried out at its plants in Padi, Chennai and Bawal, Haryana, on slump sale basis, to the new company.
Nucleus Software Exports announced that the buyback committee approved share buy-back of upto 33.43 lakh fully paid-up equity shares under the buyback offer, representing 10.32% of the total paid-up equity share capital of the company at final buyback price of Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the Financial Year ended 31 March 2017. The announcement was made after market hours on Friday, 16 June 2017.
HIL said that the company is holding 33% stake in 'Supercor Industries Limited', Nigeria as a joint venture (JV) between the company and other shareholders including State Govt. of Bauchi and the said company is not in a position to prepare any accounts/management accounts FY 2016-17 due to cash crisis situation which forced them to stop their operations since November 2015. The company also initiated winding up petition to expedite the process.
Further, as per the provisions of Regulation 33 of Listing Regulations, the company has decided to opt for submission of standalone quarterly and yearly results for FY 2018 in view of the above reasons. Apart from the above joint venture, company does not have any other joint ventures or subsidiaries or associates companies and hence the company will not prepare any consolidated accounts. The announcement was made after market hours on Friday, 16 June 2017.
Shriram Transport Finance Company announced that the allotment committee non-convertible debentures (NCDs) of the company approved and allotted 1,000 secured redeemable, rated, listed NCDs of face value of Rs 10 lakh each, aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours on Friday, 16 June 2017.
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