•Infosys may invest Rs750 crore in Silicon Valley
As per media report Infosys plans to allocate a quarter of its $500 mn fund to invest in start ups in Silicon Valley, Israel and India along with venture capital firms. The strategy is to back start ups and entrepreneurs with ideas that align with the company. The idea is not just to be a passive financial investor but take disruptive solutions to customers.
•REC signs MoU with Genco to provide Rs24,000 crore
Rural Electrification Corporation Limited ( REC) has signed a MoU with the Telangana State Generation Corporation (Genco) to provide a funding of Rs24,000 crore for the latter's power projects.
•US FTC passes final order on Sun-Ranbaxy deal
US anti-trust regulator FTC has passed its final order settling charges that Sun Pharma's $4 billion deal to acquire Ranbaxy Laboratories BSE -1.83 % could result in unfair business practices.
As per the first order issued by FTC in January this year, Sun Pharma was required to divest Ranbaxy's interests in generic mino cycline tablets to Torrent Pharmaceuticals, based in India.
•Cigarette makers get extension to cover 85% packs with warnings
Media reports: The government of India is considering delaying the implementation of rule that requires cigarette makers to cover 85 per cent of their product packs (from current 40%) with health warnings by three to six month – sentimentally positive for ITC and other cigarette manufacturers.
•SEBI eases norms on debt conversion to equity
SEBI has brought regulations for conversion of debt into equity by which banks may be able to convert debts of defaulting publicly traded borrowers into equity. Such debt-to-equity conversion by lenders will be subject to a pricing formula and the allotment price will be based on a fair price formula prescribed and cannot be less than the face value of shares.
•Jindal Steel slumps as government rejects bids for coal blocks
Shares of Jindal Steel and Power Limited ( JSPL) dipped 16% to Rs140 on the NSE in early morning trade on media reports that the government has cancelled the two bids of the company for three blocks (Gare Palma IV/2, IV/3 and Tara).The stock opened at Rs150 and touched a low of Rs140 on the NSE.
•Cox & Kings adds one more hotel under Meininger brand
Cox & Kings adds one more hotel under Meininger brand, plans to extend the beds capacity to 12,000 beds from current 7,000 beds – long term positive for the business. Cox & Kings-owned Meininger has announced new hotel in Berlin, Germany, which effectively takes us from a tally of 16 hotels existing in Meininger to 17 hotels in Germany (overall has 60 hotels in Europe under the long term lease model).
•GMR Infra to utilise Rs1250 crore for Rights Issue
GMR Infrastructure Ltd has informed BSE that it is to inform you that GMR Holdings Private Limited (Promoter Holding Company) has informed GMR Infrastructure Limited (the Company) that it has completed necessary financing arrangements to the extent of Rs1250 Crore, out of which Rs1130 Crore has already been drawn. Promoters intend to utilise the said funding of Rs1250 Crore for subscribing to the proposed Rights Issue of the Company. This amount represents about 89.17% of the size of the Rights Issue.
As per media report Infosys plans to allocate a quarter of its $500 mn fund to invest in start ups in Silicon Valley, Israel and India along with venture capital firms. The strategy is to back start ups and entrepreneurs with ideas that align with the company. The idea is not just to be a passive financial investor but take disruptive solutions to customers.
•REC signs MoU with Genco to provide Rs24,000 crore
Rural Electrification Corporation Limited ( REC) has signed a MoU with the Telangana State Generation Corporation (Genco) to provide a funding of Rs24,000 crore for the latter's power projects.
•US FTC passes final order on Sun-Ranbaxy deal
US anti-trust regulator FTC has passed its final order settling charges that Sun Pharma's $4 billion deal to acquire Ranbaxy Laboratories BSE -1.83 % could result in unfair business practices.
As per the first order issued by FTC in January this year, Sun Pharma was required to divest Ranbaxy's interests in generic mino cycline tablets to Torrent Pharmaceuticals, based in India.
•Cigarette makers get extension to cover 85% packs with warnings
Media reports: The government of India is considering delaying the implementation of rule that requires cigarette makers to cover 85 per cent of their product packs (from current 40%) with health warnings by three to six month – sentimentally positive for ITC and other cigarette manufacturers.
•SEBI eases norms on debt conversion to equity
SEBI has brought regulations for conversion of debt into equity by which banks may be able to convert debts of defaulting publicly traded borrowers into equity. Such debt-to-equity conversion by lenders will be subject to a pricing formula and the allotment price will be based on a fair price formula prescribed and cannot be less than the face value of shares.
•Jindal Steel slumps as government rejects bids for coal blocks
Shares of Jindal Steel and Power Limited ( JSPL) dipped 16% to Rs140 on the NSE in early morning trade on media reports that the government has cancelled the two bids of the company for three blocks (Gare Palma IV/2, IV/3 and Tara).The stock opened at Rs150 and touched a low of Rs140 on the NSE.
•Cox & Kings adds one more hotel under Meininger brand
Cox & Kings adds one more hotel under Meininger brand, plans to extend the beds capacity to 12,000 beds from current 7,000 beds – long term positive for the business. Cox & Kings-owned Meininger has announced new hotel in Berlin, Germany, which effectively takes us from a tally of 16 hotels existing in Meininger to 17 hotels in Germany (overall has 60 hotels in Europe under the long term lease model).
•GMR Infra to utilise Rs1250 crore for Rights Issue
GMR Infrastructure Ltd has informed BSE that it is to inform you that GMR Holdings Private Limited (Promoter Holding Company) has informed GMR Infrastructure Limited (the Company) that it has completed necessary financing arrangements to the extent of Rs1250 Crore, out of which Rs1130 Crore has already been drawn. Promoters intend to utilise the said funding of Rs1250 Crore for subscribing to the proposed Rights Issue of the Company. This amount represents about 89.17% of the size of the Rights Issue.
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