TOP CORPORATE NEWS - 21 AUG 2015

·  Tata Comm gains as data centre sale may fetch Rs 4250-4590 crore

Shares of Tata Communications rose over 3% to Rs415 on NSE in an otherwise weak market on reports stating that two gigantic global firms Google Inc and Amazon are planning to bid for acquiring the telecom and internet service provider's data centre business. The stock opened at Rs409 and touched a high of Rs418.35 on the NSE. Tata Communications data centre sale could fetch Rs4250-4590 crore; Google and Amazon in race along with PEs – Positive for Tata Communication

·  IOL Chemicals allots 5,00,000 equity shares

IOL Chemicals & Pharmaceuticals said that it has allotted 5,00,000 equity shares to Innova Marchantiles Ltd. The shares have been allotted on the exercise of option attached with the warrants allotted on July 04, 2014, the company said. The said shares shall be remain locked in for a period of one year from the date of trading approval, it added. Consequent upon the issue of the above 5,00,000 equity shares, the total paid-up capital of the company stands increased to 5,19,55,502 fully paid equity shares of R10 each.

                                                                                

·  Maruti increases prices of vehicles by Rs 3,000-9,000

Maruti increased prices of vehicles by Rs3,000-9,000; to re-launch Ciaz sedan with Hybrid technology .Maruti Suzuki has raised prices for vehicles by Rs3,000 to Rs9,000 except the recently launched S-Cross. This is the first price increase taken by the company in the last 22 months. The price increase has been taken on account of higher dealer margins.  The company will also be launching the a Hybrid version of the Ciaz sedan with a fuel efficiency of about 28km/litre.

· Max India grants 99,620 Stock Options to Mr. Rahul Khosla

Max India Ltd has informed that the Remuneration Committee of the Company on August 19, 2015 granted 99,620 Stock Options to Mr. Rahul Khosla, Managing Director of the Company under the Max Employee Stock Plan - 2003. The aforesaid Options entitle Mr. Rahul Khosla one equity share of Rs.2/- each for cash at par for every one Option exercised. The said Options will be vested with Mr. Khosla in a graded manner over a period of five years.

· Sadhbhav files red herring prospectus for Rs425 crore IPO

Sadbhav Engineering Ltd has now informed that Sadbhav Infrastructure Project Limited (SIPL) has filed its red herring prospectus dated August 21, 2015 with Registrar of Companies, Gujarat at Ahmedabad on August 21, 2015 in order to undertake an initial public offering of its equity shares (the “Issue”).

                                                                                                                                                                                                                                                    

·  FDC purchase leasehold property for Rs261 cr

FDC announced that the Company has purchased immovable property presently occupied by the Company as a Lessee, from the Lessors, admeasuring 8,664 sq. meters located at 142-48, Swami Vivekanand Road, Jogeshwari (West), Mumbai 400 102 for a total consideration of Rs261 crore.

                                                    

·Gujarat Industries Surat Plant under forced outage

Gujarat Industries Power Company Ltd has informed that the Unit-3 (125 MW) of Surat Lignite Power Plant (SLPP) of the Company (GIPCL) is under forced outage that took place on Monday, August 17, 2015 at 21.42 hours, due to technical snag in the Generator transformer. BHEL, OEM, has been asked to depute their expert technicians at the Site to investigate and report the extent of damage and remedial actions on urgent basis.


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