JSW Steel in focus on acquiring Welspun Maxsteel

JSW Steel has entered into a definitive agreement with Welspun Enterprise (WEL), to acquire the entire equity shares held by the latter in Welspun Maxsteel (WMSL) for an enterprise value of Rs 1000 crore plus net current assets as of 31 August 2014. The move is aimed at achieving the strategic goal to enhance its steel production to 40 MTPA in the next decade. The agreement is subject to the relevant regulatory approvals and customary closing conditions.

HCL Technologies has reportedly bagged a deal worth about AUD 35 million (over Rs 198 crore) from Sydney Trains to support and maintain 107 of its business applications.

DLF turns ex-dividend today, 19 August 2014, for dividend of Rs 2 per share for the year ended 31 March 2014.

Kanoria Chemicals turns ex-dividend today, 19 August 2014, for dividend of Rs 1.50 per share for the year ended 31 March 2014.

KPR Mill turns ex-dividend today, 19 August 2014, for final dividend of Rs 3 per share for the year ended 31 March 2014.

Minda Industries turns ex-dividend today, 19 August 2014, for dividend of Rs 3 per share for the year ended 31 March 2014.

Motherson Sumi Systems turns ex-dividend today, 19 August 2014, for dividend of Rs 2.50 per share for the year ended 31 March

Tinplate Company of India turns ex-dividend today, 19 August 2014, for dividend of Rs 1.60 per share for the year ended 31 March 2014.

Sintex Industries said that pursuant to the approval of the shareholders of the company at the 81st Annual General Meeting of the company held on 17 September 2012; for issue of $140,000,000, 7.50%, step down Convertible Bonds due 2017, the Committee of Directors at its meeting held on Monday, 18 August 2014, allotted 59.36 lakh equity shares of Re 1 each to Foreign Currency Convertible Bonds (FCCB) holders on the exercise their conversion right. Following the allotment, the paid up capital of the company as on Monday, 18 August 2014 increased to Rs 34.20 crore from Rs 33.61 crore. The announcement was made after market hours on Monday, 18 August 2014.

Technocraft Industries (India) after market hours on Monday, 18 August 2014 said that there is an industrial relation unrest in the form of start of illegal labour strike at the company's yarn division at Murbad, Thane which was due to incitement by outsiders resulting into stoppage of production in yarn division. The management is taking legal steps against the illegal strike. The company's other manufacturing facilities in all other divisions continue to function normally, Technocraft Industries (India) said.

The board of Jyoti Structures approved issue of equity shares / warrants upto Rs 40 crore to promoters of the company, within overall limits of Rs 120 crore.

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