Stocks in news: Rel Infra, Pipavav, Adani Power, JSW Steel

Mahindra and Mahindra (M&M)-Company is experimenting with driverless cars: ET-It’s at an early concept stage

Tata Steel-Canadian facility to start operations by month end: Hindu Business Line-Company’s capacity for processing is 6 million tonne per annum

Mahindra Holidays-Company in plans to invest Rs 500 crore-Considering addition of 500 rooms in seven to eight new locations over the next couple of years

Mastek: EGM + board meet today-To consider demerger of insurance products & services business of Mastek to Minefields Computers-Further slump sale of offshore insurance operations by Minefields Computers to Majesco Software

IDBI Bank appoints NS Venkatesh as CFOIDBI Bank says-Board approves separation of CMD post into 2 posts-CMD post to be separated into MD & CEO, chairman posts-Board okays increasing number of whole time directors to 3 from 2-Board approves rupee bond issuance limit of Rs 20,000 crore for FY16

Jindal ITF says-Board approves demerger of infra business to Jindal Saw-Board approved demerger of waterway business to Jindal Saw-Listed NCDs carrying coupon of 12 percent issued by company do not form part of both divestments

MoS Finance says-Insurance penetration is low in India-See no reason why insurance should not have 74 percent FDI cap -Proposed insurance FDI cap well within global limits-New Insurance Bill proposes well needed safeguards w.r.t companies, regulator-Have received proposals on climate insurance & crop insurance

SBI plans to launch USD 1.8-2.4 billion share sale by April-end: Reuters Sources-SBI to start marketing roadshows for share sale next week

SKS Microfinance-Completes 6th securitisation in FY15 of Rs 243.24 crore-Total securitisation completed in FY15 at Rs 1,107.94 crore

Cairn India revises its FY16 capex plan to USD 500 million from USD 1.2 billion projected previouslyCairn India says-Will remain agile to make investments to enhance volumes-Have received management committee nod for RAAG deep gas project-To focus on free cash flow after capex & dividend payout

Gujarat Alkalies says-Calcium chloride plant of Vadodara complex is incurring losses-To close calcium chloride plant of Vadodara complex-Exploring options to sell or dispose off calcium chloride plant

Parliament Affairs Minister Venkaiah Naidu says-95 percent of Lok Sbaha MPs supported Insurance Laws Amendment Bill (Max India in focus)-To introduce Land Acquisition Bill on March 9 in parliament

Reliance Infrastructure acquires Pipavav Defence-Reliance Infrastructure acquires 18 percent promoter's stake in Pipavav Defence for Rs 819 crore at Rs 63 apiece-Reliance Infrastructure to make open offer for 26 percent stake in Pipavav at Rs 66/shareReliance Infrastructure says-Board reconstitution upon completion of open offer-Pipavav founder promoters to continue with minority stake-Pipavav founder promoters to have 2 non executive board seats-Anil Ambani to be chairman of board post open offer-Company to be renamed as Reliance Defence-Can buy additional 7.1 percent stake in Pipavav if open offer failsPipavav Defence to CNBC-TV18-Reliance Infrastructure and company have a shared vision for infra growth-Reliance Infrastructure committed to play a long-term game in defence-Founder promoters’ role in co will be significant-With current infra, company can manufacture large & complex equipments-CDR in place as per plan, no question of deferring it-No challenges w.r.t. deal going forward-Lenders are on board w.r.t. CDR & deal-Have debt far lower compared to peers-Deal signed, sealed & delivered-Expect deal with Reliance Infrastructure to be completed in 3-4 months-Company and Reliance Infrastructure together will make big defence conglomerate-Reliance group understands defence sector well-It is 1st big deal after government opened up defence sector-Deal will be done in line with regulatory framework-Do not need much of capital as most infrastructure in place-With existing infra, many defence orders can be taken care of-Have made the best possible choice for our shareholders

Cabinet approves setting up of Swachh Bharat Kosh-Individuals to get tax exemption on contributions to Swachh Bharat Kosh

Zee Media fixes March 17 as record date for rights issueZee Media says-Issue price for rights issue at Rs 18/Share-To issue up to 10.86 crore shares via rights issue

Coal block e-auctions:-Adani Power wins Jitpur coal block at Rs 302/tonne in forward bidding-Bids for Moitra block reserved for unregulated sector close at Rs 1,512/tonne-JSW Steel wins Moitra block at Rs 1,512/tonne

Telecom Department completes 6 rounds of spectrum auction biddingTelecom Department says-Received bidding in all spectrum bands-Received bids for 800 MHz and 2100 MHz spectrum-Saw limited bidding in Delhi, Mumbai and Karnataka circles in spectrum auction-No takers for 2100 MHz spectrum band in Delhi, Mumbai and Karnataka circles-Spectrum Auction: Government sources say received bids worth Rs 60,000 crore for spectrum on day one

Siti Cable Network closes QIP issue-Siti Cable Network approves issue price for QIP issue at Rs 35/share-Siti Cable Network says issue price for QIP at discount of Rs 1.41/share on floor price of Rs 36.41/share Other stocks and sectors that are in news today:-Bajaj Auto launches a new version of its 100-cc bike Platina ES, priced at Rs 44,507: ET-Unitech: FIR ordered against Unitech for cheating buyers: BS-CMC board meeting today for scheme of amalgamation between company and TCS-Berger International, indirect subsidiary of Asian Paints, completes acquisition of 51 percent stake in Kadisco Paint, Ethiopia-Ramco Systems: Mecaer Aviation Group chooses Ramco Aviation MRO Software-Indian Bank seeks shareholders’ approval to issue of equity shares up to Rs 280 crore to GOI on preferential basis-EMCO board approves allotment of 13.4 lakh shares of Rs 2/share for Rs 41/share on private placement/ preferential basis to EMCO Investments-Exclusion from S&P BSE Small Cap: Manjushree Technopack applicable March 17-RBI says bank rate also cut by 25 basis points to 8.50 percent w.e.f. March 4-Crompton Greaves wins 3 order of about 40 lakh LED lamps from Energy Efficiency Services (EES is JV of NTPC, PFC, REC and Power Grid)-Cabinet defers decision on setting up institution called 3P India to support public-private partnerships: PTI-Cabinet approves 4-laning of 6 highways in West Bengal, Himachal Pradesh, Uttar Pradesh, Orissa & Madhya Pradesh-Cabinet approves extending PDS Kerosene, Domestic LPG subsidy for 1 year up to March 31-Cabinet approves extending freight subsidy scheme, 2002 for 1 year up to March 31-After 20 years, RBI to put Re 1 note into circulation-CCEA approves road widening projects worth Rs 12,646 crore-Tata Motors gets shareholders nod for Rs 7,500 crore rights issue-SEBI eases account opening norms for individual investors-Sources say HDIL looking at Rs 1.5-2 crore/acre rate for 113.4 acres industrial plot in Vadodara, Gujarat-Titagarh Wagons board approves sub-division of equity shares-DHFL approves issue of 1.69 crore shares to QIBs at Rs 478.18/share-Aban Offshore arms redeem outstanding bonds worth USD 216 million

NSEL case update: MPID Court-Remands Amit Rathi to police custody till March 7-Remands Chintan Modi to police custody till March 13-Remands CP Krishnan to police custody till March 13Alert: Mumbai EOW arrested 3 top NSEL brokers on March 3Amit Rathi's counsel-Responded to all 29-30 summon notices issued by Mumbai EOW-Every document called upon shared with investigative authorities

Mumbai EOW says-Custodial interrogation necessary to unearth beneficiaries’ details-Brokers induced funding to investors up to 95 percent of investment-Brokers conspired with NSEL management-Will probe all account details of relatives of 3 accused-Accused did not cooperate or share funds’ source during interrogation-Nexus between Anand Rathi Commodities and borrower company NK Proteins-Anand Rathi conducted client code modification worth over Rs 3,000 crore-Anand Rathi conducted virtual trades of proprietary account-Suspect Anand Rathi indulged in funding via multiple accounts.