Sun Pharma in focus after commencing tender offer for acquisition of InSite Vision

Sun Pharmaceutical Industries (Sun Pharma) announced after market hours yesterday, 29 September 2015 that it has commenced a tender offer through its indirect wholly owned subsidiary, Thea Acquisition Corporation, for all of the outstanding shares of common stock of InSite Vision Incorporated for $0.35 per share in cash, without interest and less any required withholding taxes.

NTPC announced after market hours yesterday, 29 September 2015 that its board of directors have approved Thriveni- Sainik JV as Mine Developer cum Operator (MDO) for Pakri Barwadih Coal Mining Project (PB CMP) for a period of 27 years of mining operation. Peak annual production of the PB CMP will be 15 Million MT, NTPC said.

Bank of Baroda announced before market hours today, 30 September 2015 that it has issued and allotted 9.26 crore equity shares at an issue price of Rs 192.74 per equity share, aggregating to Rs 1786 crore to Government of India on preferential allotment basis.

Shares of Eveready Industries India will be in focus after the Reserve Bank of India (RBI) yesterday, 29 September 2015, notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid up capital of Eveready Industries India under the Portfolio Investment Scheme (PIS).

Bank of India announced after market hours yesterday, 29 September 2015 that it has decided to cut its base rate to 9.7% from the present level of 9.95% effective from 5 October 2015.

State Bank of Travancore announced after market hours yesterday, 29 September 2015 that it has reduced the base rate from 10.15% to 9.95% effective from 5 October 2015. However, the Benchmark Prime Lending Rate (BPLR) will remain at the same level at 15.15%.

Syndicate Bank announced after market hours yesterday, 29 September 2015, that it has finalized the issue of unsecured redeemable non-convertible Basel III Compliant Tier II Bonds in the nature of debentures aggregating to Rs 1000 crore. The coupon rate is 8.58% per annum payable annually. The issue opened on 24 September 2015 and closed on 28 September 2015. The maturity date of debentures is 28 September 2025.

Shoppers Stop announced after market hours yesterday, 29 September 2015 that it has closed its Shoppers Stop store and one shop in shop Mothercare store at Triton Mall in Jaipur. Further, the company has opened Shoppers Stop store and one shop in shop Mothercare store at Acropolis Mall in Kolkata. With these, the company has now 74 Shoppers Stop (including five airport stores) and 41 Mothercare stores under its operations.

Jaiprakash Associates announced after market hours yesterday, 29 September 2015, that its board will meet on 30 September 2015, to consider selling wind power plants of the company having aggregate capacity of 49 megawatts (MW).

ABG Shipyard announced after market hours yesterday, 29 September 2015, that a committee of the board has allotted 34.12 lakh, 0.01% Compulsorily Convertible Preference Shares of Rs 10 each at par value to the corporate debt restructuring (CDR) lenders on preferential basis as per CDR package. The allotment shall be fully paid-up at the time of allotment and shall be subject to the lock-in for such period as may be prescribed under the regulations, ABG Shipyard said.

Lanco Infratech will be watched. With reference to the news article titled, "Lanco Shelves Asset Sale Plan for Now", Lanco Infratech clarified after market hours yesterday, 29 September 2015, that it is keen in selling its stake in some of its assets to reduce the debt burden and to bring liquidity into the company. The company said that it has already sold two of its assets namely Udupi Power Corporation (1200 megawatts thermal power project) and Lanco Budhil Hydro Power (70 megawatts hydro power project), which reduced the consolidated debt of the company.

Orient Green Power Company announced after market hours yesterday, 29 September 2015, that a committee of the board approved the preferential allotment of 3.43 crore equity shares of Rs 14.56 each to Syandana Energy.

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