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TOP CORPORATE NEWS 04 Septmber 2014

By : Simran Shah

·        JP Associates drops on Stake Sale

Jaiprakash Associates drop over 19%, after Jaypee Infra Ventures sold 1,34,89,693 shares of Jaiprakash Associates at Rs46.33 on the NSE.

·        DLF falls 9%, Haryana govt cancels 350-acre land allotment

DLF tumbled 9 percent as worried investors are offloading the stock after the Haryana government cancelled the 350-acre land allotment made to the company in 2010.

·        PNB undertakes Rs500 crore fund raising

PNB announced that the Bank is raising Rs. 500 crore Tier-II Basel III compliant Bonds at an annual coupon of 9.35% on Private placement basis from 04 September 2014 to 09 September 2014 through five arrangers.

·        TVS Motor gains after BofAML ups target to Rs 235

Shares of TVS Motor were up 5% following a buy rating on the stock by global brokerage BofA Merrill Lynch because of strong business prospects and at current levels valuations are attractive to its peers.

TOP CORPORATE NEWS 03 SEPTEMBER 2014

By : Simran Shah

·        Suven Life at new high, up 5%, gets patents in 3 countries

Investors lapped up shares of Suven Life Sciences after the drug maker received product patents from South Korea, China and Canada.

·        Tata Power's arm redeems US$ 450 mn Fixed To Floating Rate Subordinated Notes

Tata Power’s arm Bhira Investments Limited, has redeemed US$ 450 Mn. Fixed to Floating Rate Subordinated Notes on September 02, 2014, as per the notice for early redemption to the Trustee dated July 31, 2014.

·        Tata Motors stock up 2% on receiving order

Shares of Tata Motors was up 2% after company received an order from KSRTC (Karnataka State Road Transport Corporation) to supply 487 nos. and another for 780 nos. from HRTC (Himachal Road Transport Corporation) for Tata Marcopolo built buses as per Urban Bus Specifications under JNNURM II scheme.

·        Eros Intl announces Partnership with Home Cable Network

Eros International Media announced the launch of a partnership between Home Cable Network and online entertainment service provider Eros Now.

TOP CORPORATE NEWS 25 August 2014

By : Simran Shah

·        Supreme Court says coal block allocations post 1993 illegal

Supreme Court has pronounced the terms under which coal blocks were allocated post 1993 as illegal but stopped short of deallocating the blocks. The conseqence of illegality will be determined on September 1, 2014. The apex court observed that the issue of de-allocation will need further hearing, but barred UMPPs from exploiting captive mines.

·        GAIL to restart work on Rs 10,000-cr Energy Highway

GAIL India said work was set to start on the 2,050-km Jagdishpur-Phulpur-Haldia natural gas pipeline, which will serve as the Energy Highway for West Bengal, Bihar, Jharkhand and Uttar Pradesh.

·        Adani Group plans 2,500 MW rejected coal based power plant

Adani Group is close to signing up a Memorandum of Understanding (MoU) with the Odisha government to set up 2,500 MW of rejected coal based power plant in Angul district. The proposed investment is Rs 12,500 crore, as divulged by the company's senior management.

·        Ranbaxy faces Rs 242 crore US fine

Shares of Ranbaxy Laboratories was up 2% on reports that company may have to pay Rs 242 crore fine, imposed by the State of Texas.

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