Reliance Industries before market hours today, 26 December 2014 said it has signed shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. Lines (MOL) for transporting liquefied ethane from North America to India. MOL will supervise the construction of six very large ethane carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.
UltraTech Cement after market hours on Wednesday, 24 December 2014 in a clarification with respect to announcement dated 23 December 2014 regarding UltraTech Cement's acquisition of cement units of Jaiprakash Associates said that the board of UltraTech Cement approved the acquisition of 2 integrated cement units of Jaiprakash Associates in Madhya Pradesh as mentioned in the press release at an enterprise value of Rs 5400 crore. The Board lso approved executing an Memorandum of Understanding (MOU), which was signed by the parties on 23 December 2014 after the board meeting. The transaction is subject to confirmatory due diligence, definitive agreements and regulatory approvals as may be required, UltraTech Cement said.
Financial Technologies (India) (FTIL) after market hours on Wednesday, 24 December 2014 with respect to updates on sale of stake in MCX Stock Exchange (MCX-SX) said that 2.71 crore equity shares of MCX-SX were transferred to Dr. Rakesh Jhunjhunwala and consideration has been received. Further, 38.48 crore warrants has been transferred in the name of investors and the investors have converted the said warrants into equity shares and accordingly the company has received the consideration. One of the investor, SKS Capital & Research have expressed its inability to purchase the warrants and accordingly both the parties agreed to terminate the agreement. One of the investor, Mr. Uday Shah has agreed to purchase additional 50 lakh warrants, accordingly the amendment to Warrant Purchase Agreement (WPA) has entered into between the parties subject to other terms and conditions of WPA will remain same. The balance 17.26 crore warrants will be transferred to Escrow Agent in terms of WPA and the said warrants will be transferred to the investors from the Escrow Account as per terms & conditions of Escrow Agreement, FTIL said.
Reliance Capital said after market hours on Wednesday, 24 December 2014, that a meeting of the board of directors of the company will be held tomorrow, 25 December 2014, to consider a strategic long term alliance with a foreign partner, including inter alia a preferential allotment of a minority equity stake in the company.
GlaxoSmithKline Pharmaceuticals (GSK Pharma) after market hours on Wednesday, 24 December 2014 in a clarification with regard to news item titled "CCI Gives Approval for Novartis-GSK Pharma Deal" said that the Competition Commission of India (CCI) approved the GSK - Novartis deal relates to the global deal between GlaxoSmithKline Plc ( GSK Plc ) and Novartis AG ( Novartis ). GSK Plc, an entity situated in UK indirectly holds shares of GlaxoSmithKline Pharmaceuticals ( GSK India ) and GSK India has not accepted any binding commitments in relation to the global deal. No filings and/or representations have been made by GSK India in the application for the approval filed by GSK Plc and Novartis. GSK India shall make all necessary disclosures as and when any obligation to do so arises under clause 36 of the listing agreement, GSK Pharma said.
Bata India after market hours on Wednesday, 24 December 2014 with regard to a news item titled "Crocs sues bata, others for design infringement" said that the subject matter is presently sub-judice before the Delhi High Court and hence, the company would not like to comment thereon. However, this is a routine operational litigation and the outcome thereof has no material impact on the business operations of the company, Bata India said.
Corporation Bank after market hours on Wednesday, 24 December 2014, announced that it has fixed 23 January 2015 as the record date for 5-for-1 stock split.
With respect to the announcement submitted on 23 December 2014 regarding the "Sale of shareholding of Joint Venture Company-FCC Rico", Rico Auto Industries after market hours on Wednesday, 24 December 2014, clarified that this was not the unit or division of the company. It was 50:50 Joint Venture Company a separate entity in the name of FCC Rico (unlisted company), registered with the Registrar of Companies, NCT of Delhi & Haryana. The company was holding investment in this company and were receiving dividend as and when declared by such company. During the financial year 2013-14, the company received a dividend of Rs 2.96 crore from the Joint Venture Company. The amount of consideration towards the sale of investment aggregating to Rs 495 crore have been received by the company on 23 December 2014. The buyer of the entire investment are FCC Clutch India and FCC (Phillippines) Corp., group companies of FCC Co. Ltd., Japan. The company in its earlier announcements had mentioned about the sale of shareholding in Joint Venture and consideration received with regards to this sale.
Punjab National Bank said after market hours on Wednesday, 24 December 2014, that the board of directors of the bank at its meeting held on 23 December 2014, has approved the holding of EGM on 13 February 2015, for election of three shareholder directors of the bank and seeking shareholder approval for raising of equity capital by way of FPO/QIP/ESPS or in any combination thereof.
With respect to news article titled "Edelweiss ARC looks to Raise Rs 634 cr for Rescue of Ailing Bharati Shipyard", Bharati Shipyard after market hours on Wednesday, 24 December 2014, clarified that Edelweiss ARC is making efforts to raise Rs 634 crore in the form of "debt or a combination of debt-cum-equity". ARC is trying to raise the above amount so that the company can be turned around. The company said it has already mentioned in its 37th Annual Report, circulated for the year 2013-14, under Managing Directors' message that Edelweiss ARC has taken the debt of 11 banks and they are looking to buy the rest of the debts from the remaining banks and that in order to mobilize funds, Bharati has been making efforts with the aid of its lenders led by Edelweiss.
The Reserve Bank of India has on Wednesday, 24 December 2014, notified that the further purchases of shares of Gujarat State Fertilizers & Chemicals would be allowed only after obtaining prior approval of the Reserve Bank of India as foreign shareholding through foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) in the company has reached the trigger limit.
The Reserve Bank of India has on Wednesday, 24 December 2014, notified that further purchases of equity shares of Deccan Gold Mines would be allowed only after obtaining prior approval of the Reserve Bank of India as the foreign shareholding through non-resident Indians (NRI)/persons of Indian origins (PIOs) in the company has reached the trigger limit.
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