IDBI Bank may gain as board approves stake sale in NSDL

IDBI Bank said that its board of directors, has approved sale of 28 lakh equity shares of National Securities Depository (NSDL) constituting 7% of its total paid up equity capital held by IDBI Bank. The announcement was made after market hours yesterday, 6 December 2017.

BEML has opened spare parts and warehouse office yesterday, 6 December 2017 at Pune, Maharashtra. BEML has established its office at Pune not only to enhance its presence in Maharashtra but also to reach the doorsteps of customers i.e., Indian Army. The announcement was made after market hours yesterday, 6 December 2017. On the occasion, D.K. Hota, CMD BEML, said that this is one of the major steps towards future supply of spares for High Mobility BEML Tatra Vehicles and achieve total customer satisfaction in the defence sector in the ever demanding market scenario.

Hatsun Agro Product said that the board of directors of the company has considered and approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs 900 crore. The board of directors has also constituted a rights issue committee and authorised it to decide the terms and conditions of the rights issue including the nature of security, issue size, issue price, timing of the issue, rights entitlement ratio, record date and all other matters related and incidental to the rights issue in consultation with the lead manager to the rights issue. The announcement was made after market hours yesterday, 6 December 2017.

Gayatri Projects announced that its board has approved to raise funds upto an amount of Rs 1000 crore, by issue of securities but not limited to equity shares, and or any other securities convertible into equity shares and/or NCDs with or without warrant, through further public offer/qualified institutional placement/preferential issue/rights issue or through any permissible mode. The announcement was made after market hours yesterday, 6 December 2017.

Infosys announced that it has submitted application with the Securities and Exchange Board of India pertaining to matters relating to the severance agreement entered into with the former CFO in October 2015. The announcement was made after market hours yesterday, 6 December 2017.

The Phoenix Mills announced that the Finance and Investment Committee of the board of directors of the company approved the issuance of commercial papers for an aggregate amount of upto Rs. 200 Crores, in one or more tranches. The announcement was made after market hours yesterday, 6 December 2017.

Shankara Building Products announced the opening of its 124th store under the 'Shankara Buildpro' brand at Ramnagra, Karnataka. The store admeasures around 4,214 square feet and houses a diverse basket of product offerings. The announcement was made after market hours yesterday, 6 December 2017.

Bank of Maharashtra reviewed its marginal cost of funds based lending rates for various tenors from 7 December 2017. Further, the bank has kept base rate unchanged at 9.6%. The announcement was made after market hours yesterday, 6 December 2017.

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