ICICI Bank said that its board at its meeting held on Tuesday, 9 September 2014, approved 5-for-1 stock split.
SKS Microfinance, TVS Motor Company, Eicher Motors, Motherson Sumi Systems and Mindtree will become part of the NSE's derivative segment from today, 10 September 2014.
Shares of hospitality firms and tour operators will be in focus after foreign tourists arrivals (FTAs) surged at 40-months high pace of 17.1% to 5.69 lakh in August 2014, while showing acceleration in the pace of growth from 13% growth in the previous months and 9.1% increase recorded in August 2013.
Lanco Infratech said it planned to sell power projects to raise Rs 5000 crore and pay down its debts. Lanco will sell 3,000 megawatts of generating capacity assets, V. Sreenivas, chief operating officer at Lanco Group, said in a statement. The company will use the proceeds to reduce its debts of Rs 15000 crore, Sreenivas said.
Sasken Communication Technologies said that Spreadtrum Communications Inc. has remitted an amount of $21.49 million. On 1 July 2014, Sasken had informed the exchanges that it had received the arbitration award in its favour in a case against Spreadtrum Communications in the US and will receive a payment of $31.7 million within 30 days from Spreadtrum.
IndusInd Bank said that it has opened a new branch in New Friends Colony, New Delhi. The bank said that it plans to further strengthen its presence and customer reach in the country's capital with more branches in the coming quarters. With the inauguration of new branch, IndusInd Bank now has 27 branches in New Delhi.
Biocon announced after market hours on Tuesday, 9 September 2014, that Biocon Research (BRL), a wholly owned subsidiary of Biocon has entered into an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation (GE Capital), to purchase the latter's investment in Biocon's research services subsidiary, Syngene International (Syngene) for an agreed consideration of Rs 215.38 crore. GE Capital had a 7.69% stake in Syngene.
Wockhardt announced after market hours on Tuesday, 9 September 2014, that a meeting of the Board of Directors of the company will be held on 15 September 2014, inter alia, to consider and approve amalgamation of two wholly owned subsidiaries viz Wockhardt Biopharm and Vinton Healthcare with Wockhardt.
Patel Engineering issued clarification after market hours on Tuesday, 9 September 2014, that the company intends to reduce its debts to the extent of approximate Rs 1000 crore by monetizing its non-core assets and the same shall be informed to the stock Exchanges as and when finalized. The company clarified this with reference to the news item appearing in the media regarding "Company looking to mop up around 800 crore by selling land parcels in Mumbai, Hyderabad and Bangalore".
Godrej Industries announced after market hours on Tuesday, 9 September 2014, that the Mumbai High Court on 5 September 2014 sanctioned the Scheme of Amalgamation of Wadala Commodities with Godrej Industries and their respective shareholders. The Scheme is also subject to approval of the High Court at Madhya Pradesh, Indore Bench, wherein the hearing is pending before the said High Court. The company shall separately intimate the stock exchanges once the Scheme becomes effective.
Havells India announced after market hours on Tuesday, 9 September 2014, that CRISIL has assigned, "FAAA rating with stable outlook" to the company's Fixed Deposit Programme and "CRISIL A 1+" rating to the company's Commercial Paper Programme.
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