RITES in focus as Govt to dilute stake through OFS

Shares of RITES will be in focus. The President of India, acting through and represented by the Ministry of Railways, Government of India, (Promoter) of RITES proposes to sell up to 2.50 crore equity shares, in aggregate representing 10% of the total equity share capital of the company on 22 November 2019 (for non-retail investors only) and on 25 November 2019 (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), with an option to additionally sell up to 1.25 crore equity shares (representing 5% of the total share capital of the company) through offer-for-sale (OFS). The floor price for the OFS is Rs 293.50 per share.

Shares of Bank of Baroda will be watched. Bank of Baroda, South Africa, has not indulged in any activity violating regulatory guidelines knowingly. Transactions were carried out in a professional and transparent manner and the bank is totally committed to comply with rules and regulations laid out by the governing bodies and regulators. The operations of Bank of Baroda in South Africa were governed and conducted in accordance with the regulations and guidelines of the South African Reserve Bank and Reserve Bank of India.

Bajaj Holdings & Investment clarified that as an investment company, the company manages a large investment portfolio and evaluate many companies on a regular basis. No decision has been taken on any investment in RBL.

Crisil downgraded the rating of long-term bank facilities of Bhel to 'AA' from 'AA+' with outlook revised from Negative to Stable due to company's weaker than expected operating performance and the continued decline in net cash levels of the company during the first half fiscal of 2020.

Laurus Labs announced that it has completed the USFDA, pre-approval inspection (PAI) for an API manufactured at its Units 1&3, located at J N Pharma City, Parawada, Visakhapatnam, Andhra Pradesh, with three observations, which are procedural in nature and no data integrity issues were observed in the inspection. The inspection was carried out from 18 November 2019 to 21 November 2019.

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