NTPC in focus after board OKs solar project in Madhya Pradesh

NTPC said after market hours on Wednesday, 26 June 2013 that the board of directors of the company at its meeting held on 25 June 2013, has accorded investment approval for the development of 50 megawatts (MW) solar photo voltaic based project at Rajgarh, Madhya Pradesh at an appraised current project cost of Rs 346.42 crore.

Religare Enterprises said that US-based Customers Bancorp Inc. has agreed to invest $51 million in the company through combination of primary and secondary market investment.

Magma Fincorp said after market hours on Wednesday, 26 June 2013 that the board of directors of the company at its meeting held on 26 June 2013, approved that the company make an application seeking a banking license in terms of the guidelines for licensing of new banks in the private sector dated 22 February 2013 and the associated clarifications issued by the Reserve Bank of India on 3 June 2013.

Wipro turns ex-dividend today, 27 June 2013, for final dividend of Rs 5 per share for the year ended 31 March 2013.

Housing Development Finance Corporation (HDFC) turns ex-dividend today, 27 June 2013, for dividend of Rs 12.50 per share for the year ended 31 March 2013.

Sobha Developers turns ex-dividend today, 27 June 2013, for dividend of Rs 7 per share for the year ended 31 March 2013.

Tata Global Beverages turns ex-dividend today, 27 June 2013, for dividend of Rs 2.15 per share for the year ended 31 March 2013.

The board of Shree Ganesh Jewellery House will meet today, 27 June 2013, to consider issuing equity shares on preferential basis to non-promoters/foreign investors.

Indraprastha Gas, which supplies fuel in Delhi and its neighbourhood, reportedly bought a 50% stake in Kanpur-based Central UP Gas (CUGL), a venture of GAIL (India) and BPCL, for about Rs 70 crore. As per reports, the acquisition gives the company access to two cities - Kanpur and Bareily - where compressed natural gas (CNG) is currently used as a mode of transport; and licence to start operations in Unnao and Jhansi.

Shares of National Fertilisers (NFL) will be watched on media report that the government will take a decision on the proposal for 7.64% stake sale in NFL today, 27 June 2013. According to the report, the Department of Disinvestment (DoD) has approached the Cabinet Committee on Economic Affairs (CCEA) for stake sale in the company through offer for sale (OFS) route. At present, the government holds 97.64% stake in NFL (as on 30 March 2013).

Development Credit Bank said that ratings agency CRISIL has assigned a CRISIL A1+ (pronounced CRISIL A one plus) rating to the company's Rs 1000 crore certificates of deposit programme (enhanced from Rs 500 crore).

Akzo Nobel India said that Partha Sarathi Basu, wholetime director and chief financial officer (CFO) will be taking up an assignment with AkzoNobel NV as finance director operations within the corporate control department, based in the Netherlands, after the annual general meeting in August 2013. He will continue in his present role till he takes up his new assignment. His successor as CFO of the company will be intimated in due course, the company added.

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