SBI may gain after board approval for divestment of 3.9% stake in life insurance unit

State Bank of India (SBI) announced that the executive committee of the central board (ECCB) of the bank at a meeting held on 9 December 2016, approved divestment of 3.9 crore equity shares constituting 3.9% stake in SBI Life Insurance Company at a price of Rs 460 per share, subject to all regulatory approvals. The announcement was made after market hours on Friday, 9 December 2016.

Indusind Bank announced that the finance committee of the board has on 9 December 2016, allotted 15,000 unsecured redeemable non-convertible bonds in the nature of debentures of face value of Rs 10 lakh each at par to the identified investor(s) on private placement basis, for an amount of Rs 1500 crore. The announcement was made after market hours on Friday, 9 December 2016.

Tata Motors announced that the Tata Motors Group global wholesales including Jaguar Land Rover rose 1% to 91,832 units in November 2016 over November 2015. Global wholesales of all passenger vehicles rose 5% to 64,862 units in November 2016 over November 2015. The announcement was made after market hours on Friday, 9 December 2016.

Idea Cellular said it proposes to issue non-convertible debentures amounting to Rs 1500 crore on private placement basis. The tenure of debentures is 5 years with a coupon/interest of 7.57% per annum. The announcement was made after market hours on Friday, 9 December 2016.

Axis Bank announced acquisition of shares representing 13.67% of the total paid up capital in Assets Care and Reconstruction Enterprise from IFCI at Rs 31 per share for cash aggregating Rs 22.72 crore. The announcement was made after market hours on Friday, 9 December 2016.

NMDC's net profit fell 5.61% to Rs 770.76 crore on 1.29% fall in total income to Rs 2012.64 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours on Friday, 9 December 2016.

Shilpi Cable Technologies announced that the expansion program for setting up of copper up cast for manufacturing of oxygen free copper (OFC) rods & copper magnesium rods has been completed. The machinery & technology has been imported from UK & it is one of the latest technology which will help the company not only to boost its revenue & margin but also give edge over its competitors. The announcement was made on Sunday, 11 December 2016.

DLF's consolidated net profit fell 0.04% to Rs 206.09 crore on 0.4% decline in total income to Rs 2225.66 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours on Friday, 9 December 2016.

Jaiprakash Associates reported net loss of Rs 781.20 crore in Q2 September 2016 compared with net loss of Rs 547.22 crore in Q2 September 2015. Total income declined 43.87% to Rs 1437.09 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 10 December 2016.

OM Metals Infraprojects announced that Food Corporation of India (FCI) has issued letter of award (LOA) to the company allowing concession for a period of 30 years at four locations Bhagalpur (Bihar), Fatehpur (UP), Malda (West Bengal) and near Siddhpur (Gujarat) for development /construction of silos of 50,000 metric tons capacity at each location on design, build, finance, operate and own (DBFOO) basis for storage of wheat on fixed charge basis to the concessionaire. The announcement was made on Saturday, 10 December 2016.

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