Tata Steel in focus after divesting entire stake in JV

Tata Steel announced that the company's entire equity stake in a 50% joint venture, viz, Tata Elastron S.A. has been divested to Elastron S.A for a consideration of euro 0.368 million. It is not a related party transaction. The announcement was made before market hours today, 12 July 2017.

Reliance Industries (RIL) will be watched. The company's telecom subsidiary Reliance Jio Infocomm (Jio) announced that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

The new set of plan benefits will be available from 11 July and will be applicable for all new as well as existing subscribers. As part of this unlimited benefit, customers can enjoy 1GB data per day at 4G speed followed by unlimited at 128 kbps, unlimited local, STD and national roaming voice calls and unlimited national SMS.

Over and above the Prime exclusive plans, Jio is introducing new Every Day More Value (EDMV) plans. These plans provide 20% more value than competitors' best plans. It's Jio's solemn promise to always offer better value for the best price, RIL said.

Earlier this year, in the month of March, Jio introduced JIO PRIME membership program. Millions of customers enrolled into this membership. These founding members of Jio will also be special and they will continue to get industry-leading tariffs, RIL said. With the introduction of EDMV plans, Jio customers no longer have to worry if they are getting the best value with Jio, it added. The announcement was made after market hours yesterday, 11 July 2017.

Ajanta Pharma said that Ganga Exports, a promoter group entity, has sold 27 lakh equity shares, or 3.07% equity, of the company. Consequent to sale, promoter holding has come down from 73.78% to 70.71% stake in Ajanta Pharma. This sale has been done to provide liquidity to the promoters and the proceeds will be utilized for personal use. The announcement was made after market hours yesterday, 11 July 2017.

Srei Infrastructure Finance said that Srei Equipment Finance, a material subsidiary of the company, has on 11 July 2017 filed prospectus dated 10 July 2017, with BSE and the National Stock Exchange of India (NSE) towards its public issue of 50 lakh unsecured subordinated redeemable non-convertible debentures of face value of Rs 1000 each, eligible for inclusion as Tier II capital (the 'Debentures' or the 'NCDs') for an amount upto Rs 500 crore (base issue size) with an option to retain over subscription upto Rs 1000 crore (overall issue size). The issue will open for subscription on 17 July 2017 and close on 31 July 2017. The announcement was made after market hours yesterday, 11 July 2017.

Capital First said that the meeting of the Debenture Committee of the Board of Directors of the company will be held on Friday, 14 July 2017 inter-alia to consider and approve the private placement of rated, listed, secured/unsecured /perpetual, redeemable non-convertible securities in the nature of debentures. The announcement was made after market hours yesterday, 11 July 2017.

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