Cairn India, Vedanta in focus after getting merger approval from stock exchanges

Shares of Cairn India and Vedanta will be in focus. Vedanta and Cairn India have received no objection from the BSE and the NSE for the proposed merger of Cairn India with Vedanta, both the companies announced after market hours yesterday, 15 September 2015. Vedanta and Cairn India had on 14 June 2015 announced that Cairn India will be merged with Vedanta. As per the merger scheme, minority shareholders of Cairn India will receive one equity share of Vedanta for each share held in the company. The minority shareholders of Cairn India will additionally get one 7.5% redeemable preference share (RPS) of Vedanta of a face value of Rs 10 each for each share held in the company. No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India.

Biocon yesterday, 15 September 2015 inaugurated a world class facility for manufacturing new generation, patient-friendly devices for its insulins portfolio. The company also launched Basalog One, a high-end, ready-to-use insulin glargine disposable pen for better blood sugar management for people with diabetes.

Tech Mahindra announced after market hours yesterday, 15 September 2015 the release of Telco360a Salesforce Fullforce Solution for Telco and Communications. With the launch of Salesforce Fullforce Solution, customers will benefit from Tech Mahindra's expertise with Salesforce in Telco and Communications. Telco-360 provides a rich omni-channel sales and service experience for regional communication companies. It improves customer order management processes and the customer's service experience which can translate into better business results, more loyal customers and faster time-to-market.

Shares of Reliance Capital turn ex-dividend today, 16 September 2015 for dividend of Rs 9 per share for the year ended 31 March 2015.

Shares of Oil India turn ex-dividend today, 16 September 2015 for final dividend of Rs 10 per share for the year ended 31 March 2015.

Shares of PTC India turn ex-dividend today, 16 September 2015 for dividend of Rs 2.20 per share for the year ended 31 March 2015.

Natco Pharma announced after market hours yesterday, 15 September 2015 that the Committee of Directors of the company has at its meeting held on 15 September 2015, approved the issue price of Rs 2,130.55, after giving discount of upto 5% i.e Rs 112.13 per share, to the floor price of Rs 2,242.68 per share for the shares to be issued and allotted to eligible qualified institutional buyers in the qualified institutional placement (QIP). The board has also approved issue of confirmation allocation note for the allocation of 16 lakh shares to the qualified institutional buyers amounting to approximately Rs 340.88 crore.

Shares of Sadbhav Infrastructure Project (SIPL) will be listed on the stock exchanges today, 16 September 2015. The recently concluded initial public offer (IPO) of SIPL was subscribed 2.24 times. The company issued shares at Rs 103 per share, the top end of the Rs 100 to Rs 103 per share price band for the IPO.

Wonderla Holidays announced after market hours yesterday, 15 September 2015 that the company has signed memorandum of understanding (MOU) with the Government of Andhra Pradesh at an event held on 14 September 2015 to set up an amusement park in Andhra Pradesh over a period of next four to five years.

Majesco announced after market hours yesterday, 15 September 2015 that Westfield Insurance, an Ohio based super regional property and casualty insurance carrier selected Majesco's distribution management solution to consolidate and replace multiple distribution management systems. This selection was reported in Majesco's first quarter results announced in July. Majesco Distribution Management will replace and consolidate Westfield's multiple legacy distribution systems, bring new capabilities for their channels and enable them to deliver enhanced service to meet increasingly new demands and expectations for agents.

Powered by Capital Market - Live News