CAPITALSTARS
TOP CORPORATE NEWS
L&T Construction wins order
worth Rs1376 cr
Larsen &
Toubro ( L&T) announced that the power and distribution business of L&T
Constructions has won orders worth Rs1376 crore in both the domestic and international
markets in September 2015.
OBC reduces base rate by 20 bps
Oriental Bank of
Commerce ( OBC) has reduced the base rate by 20 basis points (bps) from 9.90%
per annum to 9.70% per annum with effect from September 30, 2015.
Sun Pharma commences tender
offer for acquisition of InSite Vision
Sun Pharmaceutical
Industries announced that it has commenced a tender offer through its indirect
wholly owned subsidiary. The Acquisition Corporation, for all the outstanding
shares of common stock of In Site Vision Incorporated for $0.35 per share in
cash, without interest and less any required withholding taxes.
Eveready Industries rallies on
RBI nod to hike FII limit
Eveready
Industries surged nearly 7%, touching to Rs300, on September 29, 2015, notified
that foreign investors can now invest up to 49% of the paid-up capital of the
company. The Reserve Bank of India (RBI) on, September 29, 2015, notified that
foreign institutional investors ( FIIs)/registered foreign portfolios investors
( RFPIs) can now invest up to 49% of the paid up capital of Eveready Industries
India under the Portfolio Investment Scheme ( PIS).
Government cuts Natural Gas
price to $3.82/mmbtu Arcolab to raise Rs 1,500 crore
Natural Gas price
has been cut by Government from $4.66/mmbtu to $3.82/mmbtu based on gross
calorific value; down by 17%. As per net calorific value the cut could be to $
4.24/mmbtu. The price will be again revised by March 2016. This would be
negative for ONGC, OIL and RIL; however it could be positive for select gas distribution
companies like Gujarat Gas.
Godrej Properties sells 4.35lk
sq.ft commercial project
Godrej Properties
announced that it has sold 435,000 sq. ft. of saleable area at its commercial
project, Godrej BKC in Bandra-Kurla Complex ( BKC), Mumbai. Godrej BKC is a large
high-end commercial real estate project with approximately 1.3 million sq.ft.
of saleable area located in the heart of India's most prestigious and desirable
commercial address, the Bandra-Kurla Complex.
Jubilant Life intimates on
exercise of stock options
Jubilant
Life Sciences announced that 3,600 options under Jubilant Employees Stock
Option Plan 2005 ('Plan 2005') and 1,23,916 options under JLL Employees Stock
Option Plan 2011 ('Plan 2011') have been exercised by the option holders.
Pursuant to the terms of Plan 2005 and Plan 2011, the Nomination, Remuneration
and Compensation Committee of the Company (' Committee') has approved, on
i.e. September 29, 2015, transfer of 1,41,916 equity shares of Re1 each
of Jubilant Life Sciences from Jubilant Employees Welfare Trust to the eligible
option holders.
L&T Construction wins order
worth Rs1376 cr
Larsen &
Toubro ( L&T) announced that the power and distribution business of L&T
Constructions has won orders worth Rs1376 crore in both the domestic and international
markets in September 2015.
In the domestic
market, the solar business has bagged bagged orders for 115 MWp solar
installations in the southern India. Upon completion, the total installed
capacity of solar plants by the company would be 643 MWp, one of the highest
executed by an Indian EPC company.
OBC reduces base rate by 20 bps
Oriental Bank of
Commerce ( OBC) has reduced the base rate by 20 basis points (bps) from 9.90%
per annum to 9.70% per annum with effect from September 30, 2015.
Sun Pharma commences tender
offer for acquisition of InSite Vision
Sun Pharmaceutical
Industries announced that it has commenced a tender offer through its indirect
wholly owned subsidiary. The Acquisition Corporation, for all the outstanding
shares of common stock of In Site Vision Incorporated for $0.35 per share in
cash, without interest and less any required withholding taxes.
Eveready Industries rallies on RBI nod to hike FII limit
Eveready
Industries surged nearly 7%, touching to Rs300, on September 29, 2015, notified
that foreign investors can now invest up to 49% of the paid-up capital of the
company. The Reserve Bank of India (RBI) on, September 29, 2015, notified that
foreign institutional investors ( FIIs)/registered foreign portfolios investors
( RFPIs) can now invest up to 49% of the paid up capital of Eveready Industries
India under the Portfolio Investment Scheme ( PIS).
Government cuts Natural Gas price to $3.82/mmbtu Arcolab to raise Rs 1,500 crore
Natural Gas price
has been cut by Government from $4.66/mmbtu to $3.82/mmbtu based on gross
calorific value; down by 17%. As per net calorific value the cut could be to $
4.24/mmbtu. The price will be again revised by March 2016. This would be
negative for ONGC, OIL and RIL; however it could be positive for select gas distribution
companies like Gujarat Gas.
Godrej Properties sells 4.35lk
sq.ft commercial project
Godrej Properties
announced that it has sold 435,000 sq. ft. of saleable area at its commercial
project, Godrej BKC in Bandra-Kurla Complex ( BKC), Mumbai. Godrej BKC is a large
high-end commercial real estate project with approximately 1.3 million sq.ft.
of saleable area located in the heart of India's most prestigious and desirable
commercial address, the Bandra-Kurla Complex.
Jubilant Life intimates on exercise of stock options
Jubilant Life intimates on exercise of stock options
Jubilant
Life Sciences announced that 3,600 options under Jubilant Employees Stock
Option Plan 2005 ('Plan 2005') and 1,23,916 options under JLL Employees Stock
Option Plan 2011 ('Plan 2011') have been exercised by the option holders.
Pursuant to the terms of Plan 2005 and Plan 2011, the Nomination, Remuneration
and Compensation Committee of the Company (' Committee') has approved, on
i.e. September 29, 2015, transfer of 1,41,916 equity shares of Re1 each
of Jubilant Life Sciences from Jubilant Employees Welfare Trust to the eligible
option holders.
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