Tata Steel in focus after proposing to sell shares in Tata Motors to institutional investors

Mumbai: Tata Steel before market hours today, 18 September 2015 said that the company based on the review of its portfolio, is proposing to sell equity shares of face value of Rs 2 each of Tata Motors to institutional investors over the stock exchange for a value not exceeding Rs 1250 crore. The price will be discovered through a book building process. Tata Steel also proposes to sell equity shares of face value of Rs 2 each of Tata Motors to Tata Sons around the market price through an off-market transaction for a total value not exceeding Rs 1250 crore.

Infosys announced after market hours on Wednesday, 16 September 2015 that Qantas Credit Union, a top Australian Credit Union, has chosen Infosys Finacle to improve its customer's digital experience, as part of their business transformation strategy. Infosys Fiancle is a part of EdgeVerve Systems, a product subsidiary of Infosys.

HCL Technologies announced at the fag end of the trading session on Wednesday, 16 September 2015, that it is collaborating with IBM to jointly develop Internet of Things (IoT) solutions to help customers on their IoT journey. The two companies will initially focus on specific verticals including industrial & manufacturing and smart facilities to co-develop innovative solutions such as remote monitoring, smart inventory management, smart building and facilities management. The two companies will also set up an incubation centre at Noida, India to develop these solutions for the chosen industries.

TCS announced after market hours on Wednesday, 16 September 2015, that its Digital Software & Solutions (DS&S) group has launched a new TCS 'Customer Insights & Intelligence' (CI&I) software solution for retail banks.

National Buildings Construction Corporation (NBCC) after market hours on Wednesday, 16 September 2015 said that the company is intending to foray into new business venture of e-commerce. The services which NBCC will render comprises of sale of built-up properties of NBCC - real estate business, government departments, financial institutions and private developers. The sale of properties belonging to private developers shall be subject to its due diligence in respect of title of land, approval of drawings from statutory bodies, quality and cost of building and its financing etc, NBCC said.

NBCC will, in this new venture also render their services as consultant / lender's engineer to different banks and financial institutions for project appraisal, monitoring of progress and assisting/advising them for sanctioning the loan and releasing the instalments.

Essar Oil announced after market hours on Wednesday, 16 September 2015 that it will undertake a planned shutdown of its Vadinar Refinery for 30 days from 18 September 2015 to 17 October 2015. During this period, Essar Oil will undertake major maintenance and inspection jobs of all its refinery units and also complete the conversion of the Vacuum Gas Oil Hydroteater (VGOHT) unit to Mild Hydrocracker unit (D-Max Project). The last such major planned shutdown was taken in September-October 2011. There will be no production during this period.

Shares of Novartis India will be in focus after Elanco India after market hours on Wednesday, 16 September 2015 informed that the Foreign Investment Promotion Board (FIPB) has approved its proposal to acquire Novartis India's animal health division.

Suzlon Energy announced after market hours on Wednesday, 16 September 2015 that the Securities Issue Committee of the Board of Directors of the company at its meeting held on 16 September 2015, approved allotment of 3.53 crore shares of Rs 2 each on conversion of 9,064 $546.91 million step-up convertible bonds due July 2019 of $1000 each at a conversion price of Rs 15.46 per share with a fixed rate of exchange on conversion of Rs 60.225 to $1 in terms of the Information Memorandum dated 17 June 2014, pursuant to the conversion notices received from certain bondholders of the $546.91 million step-up convertible bonds due July 2019.

Jindal Stainless after market hours on Wednesday, 16 September 2015 said that due to pending differences between management and workers who have lately been resorting to go-slow and other disruptive tactics, the management has decided to temporarily shut down operations of the ferro alloys unit at Kothavalasa in Vizianagaram district, Andhra Pradesh and shift production of ferro chrome to more economical Jajpur facilities. The management is engaged in active dialogue with the workers and hopes to resolve the issue in near future enabling it to resume operations, Jindal Stainless said. The operations of the company's other units will not be adversely affected by this shutdown, it added.

Granules India announced after market hours on Wednesday, 16 September 2015 that the United States Food & Drug Administration (USFDA) has approved its Abbreviated New Drug Application (ANDA) for Ibuprofen Tablets USP, 400 mg, 600 mg and 800 mg.#Capital_Market