Maruti Suzuki India in focus as production slips in February

Car major Maruti Suzuki India after trading hours on Wednesday, 5 March 2014, said its total production declined 9.8% to 1.08 lakh units in February 2014 over February 2013. The monthly production data includes CBU imports of Kizashi.

Separately, Maruti Suzuki India announced after market hours on Wednesday, 5 March 2014 that Indian Railways and Maruti flagged off a new high capacity railway rake called (BCACBM) on Wednesday setting a new benchmark in transportation of new cars through railways. Named Flexi deck auto-wagon rake, it brings the advantages of higher capacity, flexibility, faster speed and environmental friendliness to rail transportation of cars.

Tata Power Company, after market hours on Wednesday, 5 March 2014, said that the duly empowered committee of the board of directors of the company will meet on Saturday, 8 March 2014, to consider and decide upon the terms and conditions of the proposed rights issue including the rights entitlement ratio, the issue price, the issue size, record date, the timing of the rights issue and other related matters.

NTPC has reportedly signed a term loan agreement for Rs 500 crore with State Bank of Bikaner & Jaipur (SBBJ). This loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC, reports added.

AstraZeneca Pharma India, the Indian arm of Swedish drug maker AstraZeneca Pharmaceuticals AB, has deferred its delisting from the stock exchanges, which had been proposed by its parent company last week. The company's board, at a meeting on Wednesday, 5 March 2014, decided to seek additional information on the delisting proposal from the parent. Pending receipt of such additional information, consideration of the promoter's letter dated 1 March 2014 was deferred, the Indian company said in a statement.

ALSTOM India said it won a contract worth approximately Rs 679 crore by Bharat Heavy Electricals (Bhel) to supply two 800 megawatts (MW) supercritical boilers for Darlipalli super thermal power project (STPP) located in Sundergarh, in the State of Odisha (India). This project forms part of NTPC's bulk 800 MW tender. Under the scope of the contract, Alstom, the sole licensor for Bhel supercritical technology, will design the 800 MW supercritical boilers and supply identified pressure parts along with windboxes, pulverizers and airpreheater components. The company will also assist Bhel with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom's facilities in Concordia and Wellsville, USA, as well as in Durgapur and Shahabad, India. The units are expected to be commissioned starting in 2017.

Out of the entire aforesaid contract, ALSTOM India's scope of work would be approximately Rs 379.80 crore.

ABG Shipyard said its board approved convening extraordinary general meeting (EGM) for considering raising the company's authorised share capital from Rs 100 crore to Rs 17000 crore.

IL&FS Transportation Networks said that the committee of directors approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh aggregating to Rs 100 crore on a private placement basis on 4 March 2014. These debentures will be listed on the National Stock Exchange of India.

The company had earlier issued 10,000 debentures of Rs 10 lakh each aggregating Rs 1000 crore. With the aforesaid allotment the company has as of date issued and allotted 11,000 debentures of Rs 10 lakh each aggregating to Rs 1100 crore, IL&FS Transportation Networks said in a statement.

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