Tata Communications in focus on plan to deregister ADS from the US

Tata Communications announced after market hours on Thursday, 26 June 2014, its intention to terminate the registration of its American Depositary Shares (ADSs), as evidenced by American Depositary Receipts (ADRs), and to terminate its reporting obligations with the US Securities and Exchange Commission (the SEC). The company expects that this termination of registration will become effective 90 days after its filing with the SEC. As a result of this filing, the Company's reporting obligations with the SEC, including its obligation to file annual reports on Form 20-F and reports on Form 6-K, will be suspended immediately.

Kalpataru Power Transmission, Jyoti Structures and KEC International will be in focus after the Ministry of Power after trading hours on Thursday, 26 June 2014, said that the ministry has approved 9 new projects for setting up high capacity inter-state transmission lines with an aggregate outlay of over Rs 12500 crore. These transmission projects will be developed through tariff based competitive bidding process inviting participation from all bidders including the private sector.

HDFC Bank informed that its shareholders have approved raising the total foreign holding limit to 74% of the company's paid up capital. Shareholders also approved raising the equity share capital of the bank up to an aggregate sum of Rs 10000 crore including share premium amount.

Ashok Leyland said the Fund Raising Committee of the company on 26 June 2014, has approved the opening of the qualified institutional placement (QIP) on 26 June 2014. QIP floor price has been fixed at Rs 34.30 per equity share.

Tech Mahindra announced after market hours on Thursday, 26 June 2014, that Comptel Corporation and the company have operationalised their strategic alliance, which was announced earlier this year. The companies have set up a Centre of Excellence (CoE) at Tech Mahindra's Hinjewadi facility in Pune, India to support communications service providers (CSPs) with their complex OSS/BSS transformation projects.

Dabur India turns ex-dividend today, 27 June 2014, for final dividend of Rs 1 per share for the year ending 31 March 2014 (FY 2014).

DHFL, India's second largest private sector housing finance company, announced that its ratings have been upgraded by Credit Analysis & Research (CARE) to CARE AAA (Triple A) for long term facilities. This is CARE's highest rating, recognising DHFL's business excellence over three decades of operations. As of 31 March 2014, DHFL AUM stands at Rs 44822 crore.

GVK Power & Infrastructure clarified that it is exploring various options for reducing some of its debt. An option that is being looked at is, raising equity at the Airport Holding Company, to retire the debt raised for the airport acquisition. The Company is in discussion with a few investors in this matter. The company is also exploring a possibility to bring in an equity investor(s) into Hancock Infrastructure, which is a holding company, for the Rail and Port Projects in Australia.

Since the discussions are at a preliminary stage, it would not be appropriate for the company to divulge any details at this stage. No sooner the deal crystallizes, the company would be in a position to inform the regulatory authorities on the same, the company said.

GVK Power & Infrastructure clarrified after media reported that the company was in talks with 4-5 investors to sell stake in airport business, Hancock mining business in few months.

Powered by Capital Market - Live News