RIL in spotlight ahead of AGM

Reliance Industries (RIL) will be in focus as 40th Annual General Meeting (AGM) of company is scheduled to be held at 11:00 IST in Mumbai today, 18 June 2014.

Kotak Mahindra Bank proposes to raise the ceiling for Foreign Institutional Investors (FIIs), Foreign Portfolio Investor (FPI) and Qualified Foreign Investor (QFI) investments in the bank to 40% from 37% to help it comply with RBI directive to bring down its current promoter stake by one-fourth in little over next two and half years. The private sector bank in its notice to shareholders for the upcoming annual general meet on 16 July 2014 has sought members' approval to pass a resolution to this effect.

State-run Steel Authority of India (Sail) will be in focus on reports that the government could sell a 5% stake in Sail with a final decision expected next week. According to reports, India's disinvestment department under the Finance Ministry will hold a meeting with Steel Ministry and Sail officials on 23 June 2014 to discuss the stake sale, reports added.

Suzlon Energy has received approval of the Corporate Debt Restructuring Empowered Group to restructure existing bonds. The company also received approval of the Reserve Bank of India (RBI) for restructuring existing bonds. The company's existing bondholders will meet on 9 July 2014 to consider the proposed restructuring of the existing bonds.

Bank of India's board at the meeting held on 29 May 2014, have approved the raising of Tier-1 and Tier-2 capital by issue and fresh equity shares and Tier-1 and Tier-2 bonds at an appropriate time subject to all necessary approvals.

C Mahendra Exports has allotted 5.67 lakh equity share on preferential basis. Consequently, paid up equity share capital of the company has been increased to Rs 60.56 crore from Rs 60 crore.

DCW's board will meet today, 18 June 2014, to consider issuing equity shares of the company on preferential basis to promoters and promoter group.

CESC turns ex-dividend today, 18 June 2014, for dividend of Rs 8 per share for the year ended 31 March 2014.

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