Bank of Baroda in focus after fixing issue price for preferential allotment

Bank of Baroda after market hours yesterday, 31 August 2015 said it has fixed issue price for preferential allotment of shares to the Government of India (GoI) at Rs 192.74 per share. It may be recalled that Bank of Baroda had on 22 August 2015 said that GoI has decided to infuse capital funds to the tune of Rs 1786 crore in Bank of Baroda by way of preferential allotment of equity shares in favour of GoI.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after cut in fuel prices. Petrol price was cut by Rs 2 per litre while while diesel rate was reduced by 50 paise a litre with effect from 1 September 2015. With this change, the price of petrol in Delhi will become Rs 61.20 per litre while price of diesel in Delhi will become Rs 44.45 per litre. Since last price change, there has been a decrease in international prices of both petrol and diesel. However, rupee-dollar exchange rate has depreciated during this period. The impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease, Indian Oil Corporation (IOCL) said in a statement.

Aviation stocks will be watched after jet fuel price or aviation turbine fuel (ATF) price was cut by about Rs 5,816 per kilo litre or 11.6% with effect from 1 September 2015.

HCL Technologies after market hours yesterday, 31 August 2015, announced the launch of a United Xperience Lab Offering to institutionalize co-innovation process for building Digital solutions for and with its customers. This Offering was developed as an aggregation of its experience gathered from running six United Xperience Labs across the world, HCL Tech said in a statement. The Offering will now enable accelerated on-boarding of customers who wish to leverage these dedicated co-innovation labs for designing a new generation of user-experience focused digital solutions, HCL Tech said in a statement.

Canara Bank after market hours yesterday, 31 August 2015 said that its board of directors approved reduction in the base rate by 10 basis points (bps) from 10% to 9.9% for loans/advances effective from 3 September 2015.

Ruby Mills' board of directors at its meeting held yesterday, 31 August 2015, approved issue of bonus equity shares in the ratio of 1:1 i.e. 1 new equity share against one equity share held. The announcement was made after market hours yesterday, 31 August 2015.

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