Motherson Sumi Systems in focus after RBI hikes FPIs investment limit

Motherson Sumi Systems will be watched after the Reserve Bank of India (RBI) allowed foreign investors to hike their stake in the company to up to 30% from 24% earlier. RBI made the announcement after market hours yesterday, 27 September 2016.

Karur Vysya Bank said it has sought shareholders' approval for a proposal of splitting each share into five shares (5-for-1). Shareholders will vote for the proposal through a postal ballot process. The announcement was made after market hours yesterday, 27 September 2016.

RBL Bank said it raised Rs 330 crore from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital. The Tier II debt will strengthen the capital base of the bank, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The infusion will also help the bank expand to new regions within India, the bank said. The announcement was made after market hours yesterday, 27 September 2016.

Mahindra and Mahindra (M&M) said it agreed to acquire 1.49 crore equity shares of Mahindra Two Wheelers Europe Holdings S.a.r.l from its subsidiary Mahindra Two Wheelers for 26.3 million Euros. The announcement was made after market hours yesterday, 27 September 2016.

Piramal Enterprises said that the administrative committee of the board of directors will be held on Friday, 30 September 2016 to consider the issuing secured non-convertible debentures (NCDs) aggregating to Rs 500 crore on private placement basis. The announcement was made after market hours yesterday, 27 September 2016.

MindTree announced the availability of the next generation of ATLAS, its output-based managed services framework. This new generation allows users to have greater transparency and a holistic view into the interworking of their application infrastructure, including performance metrics, optimization and analytics. The announcement was made after market hours yesterday, 27 September 2016.

Jindal Stainless said it received approval from Orissa Industrial and Infrastructure Development Corporation (IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the hot strip mill and the coke plant of the company are located, to Jindal United Steel and Jindal Coke, respectively. The announcement was made after market hours yesterday, 27 September 2016.

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