Tata Power may gain after announcing plans to raise funds via issue of NCDs

Tata Power Company after market hours on Friday, 8 January 2016 announced about the issue of unsecured, non-cumulative, redeemable, taxable, listed, rated Non-Convertible Debentures (NCDs) amounting to Rs 500 crore on private placement basis. The company will issue 5,000 debentures having tenure of 7 years with floating rate of NCDs linked with base rate of State Bank of India. The date of allotment of debentures is 12 January 2016 and the date of maturity is 12 January 2023.

Ashok Leyland announced after market hours on Friday, 8 January 2016, that it has received an order for 680 vehicles and spare parts, worth $50 million from the Ministry of Local Government, Public Works and National Housing, Government of Republic of Zimbabwe.

Gujarat Industries Power Company after market hours on Friday, 8 January 2016 announced that it has issued letter of intent (LoI) dated 31 December 2015 to Inox Wind for installation of 26 megawatts (MW) wind energy farm project at Rojmal site, district Amreli, Gujarat, on engineering, procurement and construction (EPC) basis, with operation & maintenance contract for twenty years. The wind energy farm project is scheduled to be completed by December 2016.

Patel Integrated Logistics after market hours on Friday, 8 January 2016 announced that a meeting of the board of directors of the company will be held on 12 January 2016, for allotment of 7 lakh equity shares of Rs 10 each of the company, at issue price of Rs 115 per share and 9.29 lakh equity warrants of Rs 10 each of the company, at issue price of Rs 115 per warrant on preferential basis to Frontline Strategy subject to compliance with the applicable laws.

Container Corporation of India after market hours on Friday, 8 January 2016 announced that the management has detected a suspected case of misappropriation of company's funds of an approximate value of Rs 1.24 crore at one of its regional offices. The management has initiated immediate action against the suspected perpetrators and has also taken steps to plug loopholes in the system to prevent any similar leakages in the future.

Spice Mobility announced after market hours on Friday, 8 January 2016, that Spice Digital (SDL), a subsidiary company has acquired 22.54% equity stake in Sunstone Eduversity, a company incorporated for the purpose of engaging in the line of education business. Consequent to the acquisition, Sunstone Eduversity has become an associate company of SDL.

Sterlite Technologies announced on Sunday, 10 January 2016 that Sterlite Grid, a subsidiary of the company received letter of intent to provide transmission connectivity to power plants in Odisha. Sterlite Grid received letter of intent to commission power evacuation infrastructure in Odisha for local power projects. Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelized annual tariff of Rs 139.79 crore.

Sumeet Industries announced on Saturday, 9 January 2016 that a meeting of the board of directors of the company will be held on 18 January 2016, to consider and decide on the proposal of setting up F.O. based Genset Captive Power Plant being an alternate source of low cost energy like coal and power to further reducing power cost.

MIC Electronics announced on Saturday, 9 January 2016 that the Board of Directors of the company at its meeting held on 9 January 2016, has approved the issue of conversion of debt/liability into equity shares and further issue of equity shares on preferential basis has been discussed by the Board in detail. After examining all aspects involved the Board felt that the subject matter merits re-examination specially keeping in view of the interests of all the stakeholders involved. Accordingly the Managing Director, Dr. M. V. Ramana Rao is requested to come up with a specific proposal or alternatively with some other options at appropriate time for consideration by the Board.

Lanco Infratech announced on Saturday, 9 January 2016 that a subsidiary of the company, Lanco Kondapalli Power has successfully declared commercial operations date (COD) for its expansion capacity of 371 megawatts (MW) (Phase III B Project) with effect from 9 January 2016.

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