Interest rate sensitive banking, auto and realty stocks will be in spotlight ahead of the Reserve Bank of India's (RBI) fourth bi-monthly monetary policy review today, 29 September 2015. The RBI had kept its benchmark lending rate viz. the repo rate unchanged at 7.25% after a monetary policy review on 4 August 2015. RBI Governor Dr. Raghuram G. Rajan had at that time indicated in his written monetary policy statement that going ahead RBI will monitor developments for emerging room for further reduction in the policy rate. The RBI has cut the benchmark lending rate viz. the repo rate by 75 basis points since January 2015.
Larsen & Toubro (L&T) announced after market hours yesterday, 28 September 2015, that its subsidiary, Larsen & Toubro Infotech, filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on 28 September 2015 to undertake an initial public offering (IPO) of its equity shares. The issue comprises of an offer for sale of up to 1.75 crore equity shares of the face value Re 1 each by L&T.
JIK Industries announced after market hours yesterday, 28 September 2015, that for modernization purpose, it has stopped the hot room activities. At present, the company will concentrate in cold room activities and allied products.
Goa Carbon announced after market hours yesterday, 28 September 2015, that operations at its Bilaspur unit in Chattisgarh resumed from 26 September 2015. Last month, the company had announced temporary shut down of the unit. The company said that there would be no financial impact due to the temporary shutdown of the unit on account of sufficient inventory of finished material.
Orient Green Power Company announced after market hours yesterday, 28 September 2015, that the allotment committee of the board has approved preferential allotment of 5.83 crore equity shares of Rs 14.56 each to two separate entities. The company will allot 3.43 crore shares to Janati Bio Power, which is part of the promoter group. Further, the company will allot 2.40 crore shares to Forefront Capital Management, which belongs to public corporate bodies.
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