• Tata Motors slumps on huge loss of 5,800 JLR vehicles in China
Shares of Tata Motors slumped 6% to Rs314 on NSE led by loss of 5,800 JLR vehicles which were possibly hit by the blast at the Chinese port of Tianjin; extent of damage yet to be accessed .Jaguar Land Rover, Tata Motors’ luxury arm, had 5,800 vehicles parked at the Chinese port of Tianjin which could be damaged in the blasts. These vehicles had been imported into China and were to be delivered.
• Ajanta Pharma ranks 3rd largest wealth creator
Ajanta Pharma announced that it is ranked 3rd largest wealth creator on the basis of 5 year CARG 93.14% amongst a list of 500 Mid-Size Companies published by Fortune India ranked on various parameters based on results of 2013-14. The Company has ranked 10th on return on capital employed, ranked 21st in net profit and ranked 182nd in sales.
• IOB seeks shareholders nod to issue preferential shares
Indian Overseas Bank (IOB) said it has planned to issue bank's equity shares on preferential");'> preferential basis to the Government of India (GoI) to the tune of Rs2,009 crore.The decision comes after the Department of Financial Services, under the Union Ministry of Finance has conveyed its decision to infuse capital funds to the extent of Rs2,009 crore into the bank and advised IOB to take all preparatory steps for this, the company said.
• Coal India clears 3 projects of 40MT capacity
Coal India ( CIL) has said that it has cleared three projects with a total production capacity of 40 million tonnes which require an investment of about Rs5,900 crore, as per reports. As per reports, these mines are expected to start production in a few years and will add to the company's target of achieving 1 billion tonnes in output by 2020. The three projects which have been cleared by the company include, the Rs3,600-crore, Lakhanpur-Belpahar-Lilari, 30 million tonnes (mt) integrated open cast mine in Odisha under Mahanadi Coalfields, the Rs1,550-crore, Rampur-Batura (new mine), 4 mt project under South Eastern Coalfields and the Rs750-crore, Yekona 1 & 2 amalgamate, a 2.75 mt open cast mine under Western Coalfields.
• Gammon India secures Rs397 crore order
Gammon India has secured Rs397 crore order for 4 laning of the stretch of NH-17B from Varunapuri to Sada Junction from km 13.100 to km 18.300. The development is positive for Gammon India.
• Yes Bank tanks on $1 billion share sale plan
Shares of Yes Bank dropped 5% to Rs 658 on NSE as the bank will take a call in the second half of the current fiscal on its plans for $1 billion (about Rs6,500 crore) share sale, its chief Rana Kapoor said.
The bank's board has approved a proposal to raise one billion dollar by selling shares in local and overseas markets. The capital raising would help bank to sustain higher growth rates amid recovery in economy though in near term it could dilute the return ratios.
• Inox to invest Rs320 crore in 3 yrs
Inox to invest Rs320 crore in 3 yrs, eyes regional acquisitions – Long term Positive
• Unitech gives on lease a large office space in Gurgaon to Google
Unitech has given on lease a large office space in Gurgaon to Google, generating about Rs600 crore of rental income over the next nine years as per media reports. The development is positive for Unitech.
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