ICICI Lombard in focus as RBI hikes FPI limit

Shares of ICICI Lombard General Insurance Company will be in focus after the Reserve Bank of India notified that the Foreign Portfolio Investors (FPIs) investment limit under Portfolio Investment Scheme in the company has increased from 24% to 49% of its paid up capital.

Shares of Petronet LNG will also be in focus after the Reserve Bank of India notified that the Foreign Portfolio Investors (FPIs) investment limit under Portfolio Investment Scheme in the company has increased from 30% to 40% of its paid up capital.

Ashok Leyland said that the company has entered into a Share Purchase and Shareholders Agreement with EVERFIN HOLDINGS, shareholder of Hinduja Leyland Finance (HLFL), for acquisition of 2.04 crore shares of Rs.10/- each constituting 4.68% in the paid-up share capital of HLFL at Rs 110 per share. Consequently, the company's shareholding in HLFL will increase from 57.22% to 61.90%. The announcement was made after market hours yesterday, 16 November 2017.

Wipro announced the launch of industry-specific solutions on SAP Leonardo. The first set of solutions will focus on the utilities industry, while the next will cover the consumer and manufacturing industries. As part of the partnership, Wipro will develop industry-specific analytics "apps" on its insights-as-a-service solution, Data Discovery Platform, leveraging SAP Leonardo analytics, Big Data and data intelligence capabilities. The announcement was made after market hours yesterday, 16 November 2017.

Bharti Airtel announced the launch of two new Android powered 4G smartphones at the price of a feature phone in partnership with Karbonn Mobiles. The launch is part of Airtel's 'Mera Pehla Smartphone' initiative, which is aimed at enabling every Indian to buy a 4G smartphone and get on to the digital superhighway. The 'Al Indian' 4G smartphone will be available at an effective price of Rs 1799 (compared to MRP of Rs 4390) and the 'A41 Power' comes at an effective price of Rs 1,849 (compared to MRP of Rs 4,290). Both 4G smartphones come bundled with a monthly pack of Rs 169 from Airtel, which offers generous data and calling benefits. The announcement was made after market hours yesterday, 16 November 2017.

Shares of HDFC Standard Life will be listed on the stock exchanges today, 17 November 2017. The company had issued shares at Rs 290 per share in the recently concluded initial public offer (IPO). The IPO of HDFC Standard Life Insurance Company had received bids for 107.74 crore shares, data on NSE showed. The IPO was subscribed 4.90 times. The price band for the IPO was Rs 275 to Rs 290 per share. The IPO opened for bidding on 7 November 2017 and closed on 9 November 2017.

Central Bank of India announced that capital raising committee of the board of directors of the bank allotted 5.59 crore equity shares of the face value of Rs 10 each to the Government of India at Rs 104.15 each, aggregating to Rs 583 crore. The shares were allotted after extinguishment of 5,830 innovative perpetual debt instruments of Rs 10 lakh each held by Government of India. With this allotment, shareholding of President of India (Government of India) has increased to 81.91% from 81.38% earlier. The announcement was made after market hours yesterday, 16 November 2017.

PVR, has agreed to acquire a minority stake in iPic-Gold Class Entertainment, LLC (iPic), America's premier luxury restaurant-and-theater company, which owns and operates 16 luxury theaters with 121 screens across 10 States in the United States. PVR's board approved the proposed investment and the strategic partnership between PVR and iPic, which will give PVR valuable exposure in the cinema exhibition market of USA. The completion of the proposed investment is subject to receipt of relevant corporate and regulatory approvals. The announcement was made after market hours yesterday, 16 November 2017.

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