Hindalco in focus as Novelis announces pricing of $1.15 billion bonds issue

Hindalco Industries (Hindalco) announced that its wholly owned US subsidiary Novelis Inc has completed refinancing of its $1.15 billion senior notes due 2024. The notes were priced at par value and will bear an interest rate of 6.25% per annum. Novelis intends to use the net proceeds of the offering to retire its outstanding 8.375% senior notes due 2017. The announcement was made after market hours yesterday, 17 August 2016.

Mahindra & Mahindra (M&M) after market hours yesterday, 17 August 2016, announced incorporation of a subsidiary company in Mexico viz. Mahindra Mexico S. de. R.L. It was incorporated as a 99% subsidiary of Mahindra USA Inc, which in turn is a 100% subsidiary of M&M. Mahindra Mexico S. de. R.L. was incorporated to promote Mahindra Brand in Mexico and expand its reach into Mexico to promote higher HP tractors.

Dewan Housing Finance Corporation (DHFCL) announced that it proposes to issue unsecured subordinated perpetual non-convertible debentures amounting to Rs 200 crore alongwith a Greenshoe option upto Rs 275 crore. The company also proposes to issue secured redeemable non-convertible debentures amounting to Rs 140 crore alongwith a Greenshoe option of upto Rs 10 crore on private placement basis. The announcement was made after market hours yesterday, 17 August 2016.

Indiabulls Housing Finance announced that it proposes to issue upto 16,000 secured non-convertible redeemable debentures aggregating to upto Rs 1600 crore plus Greenshoe option on private placement basis. The announcement was made after market hours yesterday, 17 August 2016.

Dalmia Bharat's consolidated net profit jumped 77.85% to Rs 93.96 crore on 10.44% growth in total income from operations to Rs 1777.47 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 17 August 2016.

Shares of L&T turn ex-dividend today, 18 August 2016 for dividend of Rs 18.25 per share for the year ended 31 March 2016.

Shares of Bharat Electronics turn ex-dividend today, 18 August 2016 for final dividend of Rs 14.50 per share for the year ended 31 March 2016.

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