NHPC in focus as buyback begins today

NHPC's buyback offer will commence from today, 29 November 2013. The company plans to buyback around 123 crore fully paid up equity shares of Rs 10 each at a price of Rs 19.25 per share, aggregating Rs 2368 crore from the open market. The buyback offer will close on 12 December 2013.

Tech Mahindra said that its board will meet today, 29 November 2013, to consider a scheme of amalgamation of Mahindra Engineering Services with the company.

Alstom T&D India will offer 1.69 crore equity shares of Rs 2 each of the company through an institutional placement programme (IPP) to qualified institutional buyers today, 29 November 2013. The price band for the issue shall be Rs 159-174 per equity share. This is part of company's effort to meet Sebi's norm of minimum 25% public shareholding in the private sector listed companies.

Syndicate Bank said that its board will meet on 3 December 2013, to consider issuing equity shares worth Rs 200 crore through preferential allotment to the Government of India.

MRF's net profit rose 11.74% to Rs 184.10 crore on 4.88% increase in total income to Rs 3,159.80 crore in Q4 September 2013 over Q4 September 2012.

Financial Technologies (India) will announce its Q2 September 2013 results today, 29 November 2013.

HeidelbergCement India said it is planning to issue rupee denominated, rated, listed, unsecured, redeemable, non-convertible debentures, aggregating to Rs 370 crore, on a private placement basis, to its non-resident parent/group company(ies), which qualify as qualified doreign investors (QFIs).

Meanwhile, rating agency India Ratings and Research assigned long-term issuer rating "Ind AA-" to HeidelbergCement (indicating the high degree of safety regarding timely servicing of financial obligations and very low credit risk) with stable outlook.

Tata Motors is reportedly evaluating possible areas of cooperation with Jaguar Land Rover. One of the areas of cooperation could be sharing of platforms between Land Rover and Tata Motors for sports utility vehicles. Further, both are moving towards developing small engines for mutual use, the report suggested.

Arvind will be watched after a media report suggested that Gap Inc, the largest casual wear retailer in the US, looks set to enter the Indian market next year though a joint venture (JV) with Arvind Brands. The San Francisco-based clothing giant has signed a letter of intent with Arvind's retail arm to form a JV in India, the report said.

Donear Industries said that its board will meet on 3 December 2013 to consider rights issue of equity shares.

Powered by Capital Market - Live News