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SBI, SBI Life Insurance Company to be watched

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Shares of State Bank of India (SBI) and SBI Life Insurance Company will be in focus. SBI said that the Executive Committee of Central Board (ECCB) has accorded approval for divestment of 3.50 crore + 1 crore equity shares constituting 3.5% with an oversubscription upto 1% of stake in SBI Life Insurance Company to achieve Minimum Public Shareholding of 25% (Part of Bank's share for MPS) through Offer for Sale process through Stock Exchange mechanism as per the regulatory prescription. The announcement was made after market hours yesterday, 11 September 2019.

HDFC has proposed to raise up to Rs 5000 crore through issue of secured redeemable non-convertible debentures. The announcement was made after market hours yesterday, 11 September 2019.

Alkem Laboratories said that US FDA has issued an Establishment Inspection Report (EIR) for the company's manufacturing facility located at St. Louis, Fenton Logistics Park , USA which was inspected from 16 August 2019 to 22 August 2019 and where the company received a Form 483 issued by the US FDA containing four observations. The inspection has now been closed by the US FDA. The announcement was made after market hours yesterday, 11 September 2019.

Adani Group has appointed MSTC as the selling agent to sell all surplus inventory and other equipments (excluding scrap) of entire Adani Group of companies. The agreement will remain valid till either party terminates the agreement by giving advance notice of three months to the other party. The announcement was made after market hours yesterday, 11 September 2019.

Greenlam Industries said the expanded capacity of laminates at Nalagarh unit is now operational. With this expansion, the installed capacity for laminates has become 15.62 million laminate sheets per annum. The expansion has the potential to generate revenue of Rs 125 crore per annum on full capacity utilization. The announcement was made after market hours yesterday, 11 September 2019.

OnMobile Global said that branch of the company in Romania has been dissolved effective 4 September 2019. The announcement was made after market hours yesterday, 11 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 12 2019. 08:49 IST
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