Here are stocks that are in news today:
Tech Mahindra-Board approves acquisition of US-based CJS Solutions Group-Enterprise value for CJS acquisition at USD 110 million-USD 89.5 million to be paid upfront for 84.7 percent shares of CJS-To acquire remaining 15.3 percent in CJS over 3 years-CJS transaction is expected to close by April 2017Tech Mahindra CFO Milind Kulkarni on CNBC-TV18-CJS has a small debt component for working capital-CJS acquisition will be funded via internal accruals-CJS margins in high single digit, will be margin accretive for company-If milestones are achieved, then contingent consideration is USD 130.5 million
February auto sales: Tata Motors-Total UK JLR sales up 29.5 percent at 2,647 units versus 2,044 units (YoY)-Total UK Jaguar sales up 13 percent at 869 units versus 769 units (YoY)-Total UK Land Rover sales up 39.5 percent at 1,778 units versus 1,275 units (YoY)Tyre stocks - US Commerce Department says-Countervailing duty against Balkrishna Industries unchanged at 5.36 percent-Countervailing duty of off-road tyres from India reduced to 4.94 percent from 5.06 percent
Den Networks-To hike stake in DEN Digital Cable to 88.57 percent from 51 percent-To purchase shares from existing DDCN stakeholders for Rs 4.6 crore
Bombay Burmah-Board proposes to acquire additional shares in Bombay Dyeing-Proposal to acquire Bombay Dyeing shares part of recast of promoter holding in BDMC
South Indian Bank: RBI says-FII investment limit in South Indian Bank below prescribed limit-Removes South Indian Bank from caution limit
Jayaswal Neco-Boiler associated with sponge iron plant at Raipur damaged on March 2-Estimate of technical & financial damage due to blast under process-Repair time for boiler estimated at 2-3 months-8 MW WHRB power plant & sponge iron plant closed till repairs completed
PNB-PNB is looking to sell 7 percent in PNB Housing-Puts up Rs 295 crore bad loan for sale
GMR Infra-Hyderabad airport ranked World #1 by ACI-ASQ passenger’s survey 2016-Delhi airport gets World #2 in the highest category of ASQ Awards 2016
Daiichi to Delhi HC-Assets disclosed by Singh brothers worth over Rs 12,000 crore-Of the Rs 12,000 crore disclosed, only Rs 1,600 crore in shares of listed companies-Over Rs 10,000 crore worth of investment are meaningless, in related parties of Singh brothers-Any dilution of assets, investment will lead to creation of third party rightsDelhi HC to resume hearing the case on March 21-Delhi HC reinforces stay on Singh Brothers from selling, diluting stake in Fortis-Delhi HC asks Singh brothers to take court nod for selling or issuing shares
Other stocks and sectors that are in news today:-Coal India board approves interim dividend of Rs 18.75/share for FY16-17-PNC Infratech bags hybrid annuity highway project worth Rs 1,434 crore in Karnataka-Jindal Poly board approves expanding India operations by investment of Rs 350 crore-Bharat Electronics gets shareholder nod to split each share into 10-Bank of Maharashtra sets overnight MCLR at 8.55 percent, 1-year at 8.75 percent from March 7-Mangalore Chemical has shutdown ammonia, urea & ABC plant from March 3 for maintenance-Infibeam allots 1 warrant convertible to 4.36 lakh shares to BCCL; conversion price of warrant at Rs 1,375/share-Arfin India bags order worth Rs 107 crore from JSW Steel-Jet Airways & Fiji Airways announce codeshare agreement-Videocon D2H signs a partnership with Netflix for its HD smart connect-Dairy products - Amul hikes milk price by Rs 2 per litre-Vista Pharma circuit filter revised to 10 percent-Central Bank of India - ICRA downgrades rating from AA- to A+ and A+ to A-United Spirits - ICRA assigns rating of AA and A1+-Canara Bank revised MCLR starting from 8.2 percent to 8.45 percent across all tenors-BLS International approved stock split from Rs 10 to Re 1 per share-Crompton Greaves completes sale of ZIV, proceeds to be used to pare debt
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