State Bank of India (SBI) will be in focus after the Ministry of Defence after trading hours yesterday, 23 February 2015, said a Memorandum of Understanding (MoU) was signed between the Indian Army and State Bank of India (SBI) on the Defence Salary Package. The basic features of the MoU include a number of free/concessional services like free drafts, free cheque books, free funds transfers to any bank in India through RTGS/NEFT, free ATM cards etc. The provision also includes the Nepal Express Remittance Scheme which enables instant fund transfers to Nepal for the benefit of the Nepali Domicile Gorkha Soldiers serving in the Indian Army. Additional improved features are linking of the Personal Accident Insurance (PAI) to the savings account instead of the debit card, enhancement of the PAI amounts, enhancement of the exemption percentage of margin money for house and car loans and waiving off of the processing charges on the loans. The revised MoU will benefit almost 19.5 lakh pensioners and 10 lakh serving personnel who hold Pay or Pension accounts with SBI and also provide them an opportunity to access modern banking facilities, the Ministry of Defence said in a statement.
Maruti Suzuki India announced after market hours yesterday, 23 February 2015, that it unveiled the refreshed edition of its bestseller DZire with over 13% improved fuel efficiency on 23 February 2015. Aggressively priced at Rs 5.07 lakh onwards, the new DZire sports contemporary styling, superior comfort & convenience features and enhanced fuel efficiency. Besides, the new DZire is being introduced in four new body colours and will be available in both, petrol and diesel fuel options.
ITC said it has been declared as the successful bidder for Park Hyatt Hotel located at Cansaulim in Goa along with land and built up area of the hotel together with all buildings and structures and plant & machineries. The aforesaid assets of Blue Coast Hotels were put up on sale by IFCI through public auction under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, ITC said in a statement.
IFCI said after market hours yesterday, 23 February 2015, IFCI in exercise of its rights under the SARFA&ESI Act, 2002, has received a bid from ITC for purchase of the movable assets and immovable asset in the form of hotel by name Park Hyatt, Goa located at 263-C Arossim, Cansaulim in the state of Goa along with land and built-up area of the Hotel together with all buildings and structures and plant & machineries. IFCI has declared ITC as the successful bidder at the bid price of Rs 515.44 crore and ITC has remitted 25% of bid amount being Rs 128.86 crore as per the terms of the Tender Document. Further ITC has been advised to remit 75% of the balance amount within 15 days for the confirmation of sale.
Sumeet Industries said before market hours that the company is going to setup 10.5 megawatts (MW) (5 nos. of turbine of 2.1 MW each) Wind Power Plant at a capital cost of Rs 77.51 crore and for the said project IDBI Bank has sanctioned Rs 57.75 crore. This power plant will be operational within six months. The company's profitability will improve further due to low cost of energy. Not only that, after completion of six years from this project, the company will receive 2.70 crore units of electricity only at a cost of Rs 1.30 paise.
JK Lakshmi Cement said that based on the consistent good operating and financial performance, together with strong key financial ratios and a healthy balance sheet, Credit Analysis & Research (CARE) has upgraded the rating on the company's long term banking facilities as well as the existing and the proposed non-convertible debentures (NCDs) issue of Rs 200 crore from the earlier assigned rating of AA- (Double A Minus) to AA (Double A). The rating for short term bank borrowings of Rs 350 crore and commercial paper program of Rs 120 crore continues to be highest possible rating of CARE A1+ (A One Plus), the company said.
Container Corporation of India turns ex-dividend today, 24 February 2015, for an interim dividend of Rs 8 per share for the year ending March 2015.
Natco Pharma turns ex-dividend today, 24 February 2015, for an interim dividend of Rs 5 per share for the year ending March 2015.
Bliss GVS Pharma turns ex-dividend today, 24 February 2015, for an interim dividend of Rs Rs 0.20 per share for the year ending March 2015.
Hi-Tech Gears turns ex-dividend today, 24 February 2015, for an interim dividend of Re 1 per share for the year ending March 2015.
Shreyas Shipping & Logistics turns ex-dividend today, 24 February 2015, for an interim dividend of Rs 0.70 per share for the year ending March 2015.
Control Print (India) turns ex-dividend today, 24 February 2015, for an interim dividend of Rs 2 per share for the year ending March 2015.
Dishman Pharmaceuticals and Chemicals announced after market hours yesterday, 23 February 2015, that as per the terms of the NCD, on 18 February 2015, company has made full payment of principal repayment / redemption alongwith yearly interest payment to the eligible debenture holders whose names appears on the record date i.e. on 2 February 2015.
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