Infosys, HDFC in focus

Infosys at its board meeting held on 19 August 2017 approved a proposal to buyback equity shares for an amount not exceeding Rs 13000 crore. The buyback offer will comprise a purchase of up to 11.30 crore shares aggregating up to 4.92% of the paid-up equity capital via tender route at Rs 1,150 per share. The announcement was made on Saturday, 19 August 2017.

Shares of HDFC will be in focus. HDFC Standard Life Insurance Company, a material subsidiary of HDFC has on Friday, 18 August 2017 filed a draft red herring prospectus with Securities & Exchange Board of India for an initial public offer of up to 29.98 crore shares of Rs 10 each. The announcement was made after market hours on Friday, 18 August 2017.

ICICI Bank announced revision in interest rates on savings bank account interest rate with effect from 19 August 2017. Interest rate on deposits below Rs 50 lakh were revised to 3.5% per annum (pa) from 4% pa. Interest rate on deposits of Rs 50 lakh and above were kept unchanged at 4% pa. The announcement was made after market hours on Friday, 18 August 2017.

Laurus Labs announced that it has completed the US Food and Drug Administration (USFDA) inspection of its API facilities in Units 1 and 3 at Parawada, Visakhapatnam, Andhra Pradesh with two observations which are only procedural in nature on Friday, 18 August 2017. It is a regular surveillance audit by USFDA and no data issues were observed in the inspection. The announcement was made after market hours on Friday, 18 August 2017.

Bajaj Electricals announced that the company has bagged an order from Transmission Corporation of Telangana worth Rs 391.45 crore. The order was received for the supply, erection, testing and commissioning of 400 KV QMDC line, from 400 kV NTPC Common point (end of multi-circuit tower) to 400 kV Narsapur sub-station on Turnkey basis. The order completed period is 18 months. The announcement was made after market hours on Friday, 18 August 2017.

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