Check out the companies which will be in focus during trade today based on recent and latest news developments.
Motherson Sumi: Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30% from 24% earlier.
Max India: Max India Ltd said it has received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.
Dilip Buildcon: The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.
M&M: Mahindra and Mahindra (M&M) on Tuesday announced its SUV Scorpio with Intelli-Hybrid technology for the Delhi and NCR market, at a starting price of Rs.9.35 lakh (ex-showroom).
Coal India: Coal India's buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7% (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs.3,650 crore.
PTC India: IDFC Mutual Fund has reduced its stake in PTC India Ltd from over 5% to 3%. Additionally, PTC India Financial Services said that it may consider raising funds on a private placement basis, as per media reports.
Karur Vysya Bank Ltd: Karur Vysya Bank seeks members' approval for sub divison of shares in 1:5 ratio.
Ahluwalia Contracts (India) Ltd: The company received letter to stop construction of International Convention Centre and Police Headquarter Bhawan, Patna.
Jindal Stainless: The company has received approval from Orissa Industrial and Infrastructure Development Corporation ('IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the Company are located, to Jindal United Steel and Jindal Coke, respectively.
Balaji Telefilms: The Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.
NIIT: The company has acquired the business of Bangalore-based start-up Perceptron Learning Solutions Pvt Ltd. This acquisition aims to bring together complementary technology platforms and capabilities of NIIT and Perceptron, enabling NIIT to further accelerate its Digital Transformation initiatives – StackRoute, digiNxt, and Training.com.
KNR Constructions Ltd: The company has completed the rehabilitation and upgradation of existing National Highway 565 from 425km to 509km between Penchalakonda and Yerpedu section in Andhra Pradesh under National Highways Development Programme IV, as per media reports.
Lanco Infratech Limited: Lanco Infratech is looking to sell 1200mw coal-fired Anpara Power plant in Uttar Pradesh to bring in additional equity required to complete the under-construction power plants totalling 4000mw, as per media reports.
Manpasand Beverages: Manpasand Beverages has informed BSE that a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016, inter alia, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.