News: Ø The government plans to raise about Rs. 5,500 Cr by selling a 9% stake in Axis Bank. The sale opened after market hours on Thursday and will end before the market opens on today. Price range for Axis Bank block deal at Rs 1,290-Rs 1,357/share Ø Tata Motors owned JLR has invested £45 million in a new press line at its Halewood Operations, near Liverpool, England in a bid to speed up delivery of the cos vehicles globally. Ø Tamil Nadu govt has disrupted a key section of Gail Indias ambitious Rs. 3,400 Cr Kochi-Kuttanad-Bangalore-Mangalore gas pipeline project. Ø A court in the US has denied a motion for class certification in a lawsuit brought by the US automobile dealers against Mahindra & Mahindra. Ø Adani Power plans to set up vermicomposting units in Maharashtra and Rajasthan, where it has coal-based plants, for safe removal and environment friendly management of fly ash. Ø Tulip Telecom CMD arrested for alleged Rs 32-crore service tax evasion. A case has been registered against Tulip Telecom for allegedly evading service tax of about Rs 32.16 cr Ø GMR Infrastructure has received the approval of its shareholders to raise up to Rs 2,500 Cr through multiple instruments. This will primarily be used to reduce the corporate debt which is at Rs 4,500 Cr and also to infuse equity into another power project in India. Ø DGCA has reportedly issued a showcause notice to SpiceJet and suspended two of its pilots. Ø Canara Bank plans to raise Rs 1,000 Cr from bonds to fund business growth. The bond committee has decided to raise additional capital of Rs 1,000 Cr through issue of Basel-III complaint Tier-II bonds Ø NTPC will make a presentation within a week to electricity regulator CERC to consider its case against the new 5-year tariff regulations Ø UCO Bank has sold non-performing assets (NPAs) worth Rs 1,545 crore since January 1, 2014 almost five times the value of bad loans it sold in the previous three months. Ø IL&FS Engineering and Construction Company Limited has bagged a contract for construction of elevated depot cum workshop for the Rapid Metro Rail Gurgaon. The value of the contract is Rs 69.97 crore, and is to be completed within 24 months. Ø Competition Commission of India rejects Tata Power s complaint against GAIL. Ø ITC is setting up a luxury resort and spa at Mahabalipuram, a heritage tourism spot near Chennai. The resort, ITC Vilasa, is expected to be launched in the middle of this year. Ø Dewan Housing Finance Corporation is eyeing Maharashtras semi urban and rural market for housing finance lending business. It has over 11,000 customers in and around Pune with a portfolio size of Rs 1,000 crore. Ø NSE to exclude GSK Consumer from F&O segment w.e.f. May 30.
Posted on: Fri, 21 Mar 2014 06:58:49 +0000
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