Sesa Goa will be in focus as the stock will be included in the 30-share benchmark S&P BSE Sensex from today, 27 August 2013. Sesa Goa will replace Sterlite Industries (India) in the Sensex following the scheme of amalgamation between the two Vedanta group firms whereby Sterlite Industries (India) has been merged with Sesa Goa. As per the swap ratio, every equity shareholder of Sterlite holding 5 equity shares of the company will be entitled to be issued 3 shares of Sesa Goa.
NTPC said after market hours on Monday, 26 August 2013 that the 500 megawatts (MW) Unit-II of 1500 MW Vallur Thermal Power Project of NTPC Tamil Nadu Energy (NTECL), a joint venture of NTPC and TANGEDCO, is declared on commercial operation from 25 August 2013. With this the total commercial capacity of Vallur Thermal Power Project has become 1000 MW and that of NTPC Group to 40184 MW.
Jaiprakash Associates shares will be in focus on reports that the company is close to selling its Gujarat-based cement units to UltraTech Cement at a far lower valuation of $130 per tonne compared to $160 per tonne it was seeking earlier this year. Jaiprakash Associates may get around Rs 4500 crore from the sale of its cement units.
Igarashi Motors India scheduled a board meeting on 28 August 2013, to approve allotment of 92.32 lakh optionally convertible redeemable debentures to Mr. Padmanabhan Mukund.
Anil has scheduled board meeting on 2 September 2013, to consider certain proposal related to arrangement and business re-alignment.
A private equity fund CX Partners is reportedly in the final stage of negotiations to purchase Future Ventures' 28.3% stake in women's apparel maker Biba Apparels for Rs 300 crore.
Oswal Agro Mills said that with a view to diversify the working of the group into media and entertainment sector, the company alongwith its associate company Oswal Greentech has taken controlling stake of 51% in Newsnation Network. Accordingly, after obtaining due approvals from Government of India, the board of directors of Newsnation Network stands reconstituted.
Shriram EPC has scheduled a board meeting on 29 August 2013, to discuss proposed issue of preference shares and optionally convertible debentures.
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