TOP CORPORATE NEWS-05 MARCH 2015

Nifty Futures Tips

·Aban Offshore gains after redeeming bonds
Shares of Aban Offshore rose over 8%, touching to Rs519.5, after the company's two wholly owned step-down subsidiaries have redeemed the outstanding bonds issued by them.

·FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index
Stock market index provider FTSE Group has added Bosch and raised the shares of eight other Indian companies, including Yes Bank, to large-caps from mid-cap earlier in its Asia Pacific ex-Japan index.
FTSE's changes, which came after a semi-annual review of indices, may lead to net inflows of nearly $150 million in Indian shares and may help soothe worries about huge India overweight positions after a potential rise in the country's weighting by peer MSCI, as per reports.

·Lok Sabha passes Coal Mines bill to allow e-auction
Lok Sabha passed the Coal Mines bill yesterday to allow e-auction of coal blocks. Hence, the Coal Mines (Special Provisions) Bill, 2015, would replace two ordinances issued by the government..

·DHFL raises over Rs800 crore via QIBs
Dewan Housing Finance Corporation Ltd ( DHFL) today said it has raised Rs809.61 crore by issuing shares to institutional investors.The company said it has issued and allotted 1,69,31,102 equity shares to the Qualified Institutional Buyers ( QIBs) at a price of Rs478.18 per equity share, including a premium, aggregating to Rs809.61 crore.
                                                                                                                                                                                                                                          
·Fineotex Chemical establishes Wholly owned subsidiary
Fineotex Chemical has established a wholly owned subsidiary as a ' Free Zone Enterprise' in RAK Investment Authority Zone in the United Arab Emirates ( UAE) for doing the business of specialty chemicals.

·Asian Paints to get concessions for new plant
Asian Paints to get concessions for new plant in Andhra Pradesh – positive read through for the stock.The Andhra Pradesh Government approved the proposal of Asian Paints Limited for setting up of a Rs1750 crore Greenfield paints manufacturing unit near Visakhapatnam. The State government has also approved VAT rebate and other concessions for the company.

·SC agrees to transfer all cases related to quadric cycles
The Supreme Court has agreed to transfer all cases pertaining to introduction of quadric cycles to itself and put a stay on all petitions against the proposed launch. Eight writ petitions had been filled in various courts across the country challenging introduction of quadric cycles. The government had on February 5th requested clubbing and transfer of all cases related to quadric cycles to SC. The move is sentimentally positive for Bajaj Auto.

·Tech Mahindra to expand operations
Tech Mahindra announced that it has inaugurated its Vietnam sales office in Hanoi, bringing jobs, IT expertise and expanding operations in the country and across the region. Tech Mahindra has been working with customers, especially in the banking sector, in Vietnam since 2012.

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