Bajaj Auto to be watched as workers at Chakan plant go on strike

Bajaj Auto said said workmen at its Chakan plant in Pune have stopped coming to work. The company said the workers had earlier given a notice for a stoppage of work at the plant from the morning shift of 28 June 2013.

The workmen have, however, stopped coming to the Chakan plant from 25 June 2013, itself, without assigning any reason for this stoppage, the company said in a filing.

The company said it had earlier received a notice from the workmen's union of its Chakan plant -- Vishwa Kalyan Kamgar Sanghatana -- stating that they propose to call for a stoppage of work by all the workmen employed in Chakan plant from the morning shift of 28 June 2013.

The reason for the strike was that management had refused to concede their demand that all the workmen working in Bajaj Auto should each be given an option to subscribe to 500 equity shares of the company at a discounted price of Re 1 per share, Bajaj Auto added.

The board of Aditya Birla Nuvo has approved the proposal of making an application to the Reserve Bank of India (RBI) for obtaining licence for setting up a bank.

Reliance Capital has reportedly roped in Japanese financial behemoths SumitomoMitsui Trust Bank and Nippon Life Insurance as minority partners to boost its quest for a banking licence. According to the report, the Anil Ambani Group company will spin off its consumer lending business into a new entity in which the two Japanese giants will buy just under 5% stake each at a substantial premium. Reliance Capital and its two Japanese partners, who have signed an memorandum of understanding (MoU), will apply for a licence by 1 July 2013, the deadline set by the RBI, the report added.

Neyveli Lignite Corporation (NLC) will be watched as a media report suggested that Tamil Nadu Chief minister J Jayalaithaa has urged Prime Minister Manmohan Singh to not sell the proposed 5% stake of NLC to private parties. Instead, she has offered to buy the stake through Tamil Nadu's public sector undertakings. The government currently owns a 93.5% stake in NLC. Last week, the Cabinet Committee on Economic Affairs cleared the divestment plan through the offer for sale route that could potentially fetch more than Rs 460 core.

Shares of Emami turn ex-dividend today, 26 June 2013 for a dividend of Rs 8 per share for the year ended 31 March 2013.

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