Shares of public sector oil marketing companies (PSU OMCs) will be watched as the price of petrol was on Tuesday cut by Rs 0.70 a litre, excluding local levies, the second reduction in rates this month as appreciation of the rupee against the US dollar made oil imports cheaper. The reduction, effective midnight on Tuesday, excludes local sales tax or VAT and the actual cut will be higher, varying from city to city. There was no change in diesel prices.
DCB Bank announced that its board at its meeting held on Tuesday, 15 April 2014, decided to raise an amount not exceeding Rs 300 crore, including issue of shares under QIP, subject to securing appropriate regulatory and other approvals, as applicable.
TCS, Mindtree, IndusInd Bank and Reliance Industrial Infrastructure, among others, will announce their January-March 2014 earnings today, 16 April 2014.
Shares of Jubilant FoodWorks will be watched as the Reserve Bank of India (RBI) notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 55% (revised from earlier limit of 49%) of the paid up capital of Jubilant FoodWorks under the Portfolio Investment Scheme (PIS). Jubilant FoodWorks Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 49% to 55% for the purchase of its equity shares and convertible debentures by FIIs.
Further, RBI notified that the foreign share holding by FIIs, in Jubilant FoodWorks have gone below the revised threshold limit stipulated under the extant Foreign Direct Investment (FDI) Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
Gujarat Pipavav Port said that a meeting of the board will be held on 17 April 2014, to consider and approve revision in expansion plan and its commencement.
With reference to a news report in a newspaper, "Sebi sniffs misuse of FII a/c by cos," DLF has clarified that it explicitly denies receiving any such query from Sebi. "We wish to reiterate that at no stage have we ever indulged in the activities mentioned in your news item, or been the subject of any investigation in this regard or received any query from Sebi on this matter," DLF said.
The news reports also suggest that investigation predates to investments made about eight years ago. DLF has been listed for little under seven years, having done its IPO in July 2007, the company said.
DLF said that it follows the highest standards of corporate governance and has always acted strictly in compliance with all applicable laws, rules and regulations.
Texmaco Rail & Engineering at the fag end of trading hours on Tuesday, 15 April 2014 said at its board of directors meeting held on 15 April 2014, the directors deliberated on and approved the formation of a Committee of Directors consisting of three independent directors and one executive director to explore and evaluate various organic and inorganic options available for expanding the product portfolio and businesses of the company, and ensuring the most efficient and cost effective operations of the company.
Upon completion of evaluation of the possible options, the Committee of Directors would submit its recommendations to the Board or to such other committee(s) of the Board, including the Audit Committee, as may be required under applicable laws, Texmaco Rail & Engineering said.
Punj Lloyd at the fag end of trading hours on Tuesday, 15 April 2014 said it has secured a contract worth Rs 3254 crore to design and construct infrastructure facilities of Zliten city (Libya). The project involves design and construction of the storm and sewer network, water network, telecommunication and power distribution network, natural gas networks, street lighting and road works including landscaping of parks and green areas. The said project covers approximately 2,400 hectares, almost the entire area of Zliten, Punj Lloyd said in a statement. The project implementation tenure is four years, the company said.
Titagarh Wagons after market hours on Tuesday, 15 April 2014 announced an open offer to the shareholders of Cimmco. The open offer is for the acquisition of 50.53 lakh equity shares of face value of Rs 10 each at an offer price of Rs 15.50 per share of Cimmco from its public shareholders, constituting 25.08% of the paid-up equity and voting share capital of Cimmco. The consideration for open offer will be Rs 7.83 crore assuming full acceptance of the open offer.
AstraZeneca Pharma India after market hours on Tuesday, 15 April 2014 said that its board of directors at a meeting held on 15 April 2014, deferred consideration of seeking approval of shareholders of the company through Postal Ballot for the delisting of equity shares of the company proposed by the promoters of the company, in the light of discussions with ICICI Securities, the Manager and Walker Chandoik & Co LLP, the Valuer and pending their response to the clarifications and explanations sought from them.
IL&FS Transportation Networks (ITNL) after market hours on Tuesday, 15 April 2014 said that the Committee of board of directors (COD) at its meeting held on 15 April 2014, approved the proposed rights issue schedule. The issue opens on Monday, 28 April 2014 and closes on Monday, 12 May 2014. The COD also approved the Letter of Offer for filing with the stock exchanges and the Securities and Exchange Board of India (Sebi), ITNL said.
It may be recalled that ITNL had on 4 March 2014 said that the COD finalized the rights issue of 5.24 crore shares at a rights issue price of Rs 100 per share at a rights entitlement ratio of 27:100 i.e. 27 shares to be issued on rights basis for every 100 shares held as on record date. The company had fixed 14 March 2014, as the record date for the purpose of rights issue of equity shares.
Sanofi India turns ex-dividend today, 16 April 2014, for final dividend of Rs 35 per share for the year ended 31 December 2013..
Styrolution ABS (India) turns ex-dividend today, 16 April 2014, for dividend of Rs 4 per share for the year ended 31 December 2013.
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