Maruti Suzuki India in focus after launch of compact urban sport utility vehicle

Maruti Suzuki India (MSIL) after market hours yesterday, 8 March 2016, announced that it has launched its first compact urban sport utility vehicle (SUV), Vitara Brezza, at a striking price point. Bookings for the Vitara Brezza also opened yesterday, 8 March 2016 at the company's 1,799 strong dealer network across the country, MSIL said. With Vitara Brezza, MSIL is now present across all critical segments of the passenger vehicle market, the company said in a statement. The introductory price for the base variant of Vitara Brezza is Rs 6.99 lakh ex-showroom Delhi and Rs 7.35 lakh ex-showroom Mumbai.

Container Corporation of India (Concor) will be in focus as its promoter and principal shareholder Government of India (GoI) has decided to sell up to 97.48 lakh equity shares, constituting 5% of the total paid up equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS has been fixed at Rs 1,195 per share. Bidding for the shares in the OFS by non-retail investors takes place in a single trading session called 'T' day today, 9 March 2016. However, those non-retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day will be allowed to revise their bids on T+1 day. Bidding by retail investors will take place in a single trading session called T+1 day on Thursday, 10 March 2016. GoI currently holds 61.79% stake in Concor (as per shareholding pattern as on 31 December 2015). The OFS floor price of Rs 1,195 per share is at a discount of 2.58% to the stock's closing price of Rs 1,226.65 on BSE yesterday, 8 March 2016.

Shares of Future Consumer Enterprise (FCEL) and LT Foods will be in spotlight. FCEL said that its board of directors at a meeting held yesterday, 8 March 2016, considered and has in-principally approved entering into a joint venture arrangement with LT Foods, a leading company undertaking the business of rice, for possible opportunities to manufacture, market and distribute rice and other products. The announcement was made after market hours yesterday, 8 March 2016.

Ashoka Buildcon after market hours yesterday, 8 March 2016, announced that a consortium of the company along with Bhartia Infra Projects has received letter of acceptance from National Highways & Infrastructure Development Corporation (NHIDCL) for a highway project in Arunachal Pradesh to be executed in engineering, procurement and construction (EPC) mode. The accepted bid value of the project is Rs 155.81 crore. Ashoka Buildcon's share in the consortium is 49%.

Elecon Engineering Company said that the company has been awarded an order from Garden Reach Shipbuilders and Engineers for supply of Marine Gearboxes aggregating worth of Rs 225 crore. The announcement was made after market hours yesterday, 8 March 2016.

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