IndusInd Bank in focus ahead of Q1 results

Private sector bank IndusInd Bank will announce its Q1 results today, 9 July 2014.

Tata Motors turns ex-dividend today, 9 July 2014, for dividend of Rs 2 per share for the year ended 31 March 2014.

Cairn India turns ex-dividend today, 9 July 2014, for a final dividend of Rs 6.50 per share for the year ended 31 March 2014.

MindTree turns ex-dividend today, 9 July 2014, for a final dividend of Rs 2.50 per share and a special dividend of Rs 2.50 per share for the year ended 31 March 2014.

The Reserve Bank of India on Tuesday, 8 July 2014, notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 51.5% of the paid up capital of IDFC under Portfolio Investment Scheme (PIS). IDFC has passed resolutions at the Board of Directors' level and a special resolution by the shareholders, agreeing for decreasing the foreign investment limit/ceiling in the company under PIS - FIIs/RFPIs from 52.25% to 51.5% for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. Further the Reserve Bank notified that IDFC will remain included in the ban list for FIIs/RFPIs.

Shares of Financial Technologies (India) and Multi Commodity Exchange of India (MCX) will be in focus as high networth investor Rakesh Jhunjhunwala bought a 1.96% stake in MCX from its promoter FTIL in a block deal on Tuesday, 8 July 2014 for Rs 66 crore.

Aban Offshore said that the Capital Issue Committee of the company at its meeting held on 8 July 2014, approved allotment of 1.07 crore equity shares of face value Rs 2 to eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 695.50 per equity share, aggregating to Rs 749.99 crore.

GMR Infrastructure said after market hours on Tuesday, 8 July 2014, that the Management Committee of the Board of Directors of the company, has at the meeting held on 8 July 2014, declared the closure of the QIP on Tuesday, 8 July 2014. The board also approved the issue price of Rs 31.50 per share (which is at a discount of Rs 1.64 per share on the floor price of Rs 33.14 per share). The QIP had opened on July 02, 2014

Kirloskar Electric Company said that pending conclusion of wage negotiations with the unit labour union, the manufacturing operations at the company's unit 2 situated at Gokul Road, Hubli are under temporary suspension from 8 July 2014. The management is hopeful to address this situation in the near future, the company said.

Subex allotted 24.59 lakh equity shares pursuant to the conversion of $1,000,000 out of the company's $127,721,000, 5.70% secured convertible bonds due 2017 on 24 June 2014. Post the conversion, foreign currency convertible bonds (FCCBs) aggregating to $87.15 million are outstanding under the said bonds, the company said.

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