Stocks in news: Wipro, Arvind, ICICI, Pennar Ind, Fortis

Arvind says-Arm Arvind Lifestyle and US Polo Assn to pay settlement amount to Ralph LaurenAlert: Ralph Lauren had filed suit in US Court against Arvind and US Polo-Arm Arvind Lifestyle to pay USD 3.2 million to Ralph Lauren as per settlement agreement

Infosys gives a 15-20 percent salary hike to top performers: Sources-Move to retain high performers, curb attrition-Infosys identifies top performers across onshore & offshore centresAlert: Highest compensation hike given by Infosys to high performers in 4 years

Fund ActionCity Union Bank-Amansa Holdings Private Limited sells 1.4 crore shares at Rs 99.99/share-Small Cap World Fund Inc buys 82.54 lakh shares at Rs 99.96/shareMangalam Timber-Century Textile and Industries l buys 2.02 lakh shares at Rs 9.25/share (promoter)-Sanghai Commercial and Credits Pvt Ltd sells 1.25 lakh shares at Rs 9.25/shareEPC Irrigation-Reliance Net sells 4.40 lakh shares at Rs 136.93/share-Payone Enterprises Private Limited buys 4.40 lakh shares at Rs 136.93/shareGulshan Poly-Reliance Capital Trustee Company Ltd- A/C Reliance Mid & Smallcap Fund buys 5.95 lakh shares at Rs 250/share-Mridula Jain sells 5.96 lakh shares at Rs 250.01/share (promoter)Reliance Capital-AAA Infrastructure Finance Management Private Limited buys 7 lakh shares at Rs 430/share-AAA Enterprises Private Limited sells 7 lakh shares at Rs 430/share

Corporate Action: Ex-date-Merck dividend: Rs 6-Polaris dividend: Rs 5-SBBJ dividend: Rs 14.30-KSB Pumps final dividend: Rs 5.50-FAG Bearing dividend Rs 7.50

Fortis Healthcare-To sell Singapore Hospital to Concord Medical Services for USD 40.1 million-Singapore Hospital Sale likely to be completed by April 6

Surana Power says-Board approves investment up to 51 percent in Arhyama Energy-Will divest stake in JV Radiant Alliance

Oil Minister Dharmendra Pradhan to CNBC-TV18-Upstream companies may be exempt from subsidy sharing after LPG DBT universalised-Exempting oil companies from subsidy sharing will be an ideal situation-No fixed subsidy on LPG cylinder right now, to float as per market price

Coal block cancellation case-Delhi High Court to next hear JSPL, BALCO plea against coal block cancellation on April 13-Delhi High Court appoints Coal India as designated authorityDelhi High Court says-All actions of government, JSPL subject to final court orders-Coal India to operate mines as designated custodian from April 1-Coal India to operate mines in question from April 1 till next hearing

SEBI-Notifies International Financial Services Centre (IFSC) guidelines-IFSC guidelines to be effective from April 1, 2015SEBI on IFSC guidelines:-Stock exchanges, clearing corporations and depositories can form 51 percent subsidiary to provide exchange services in IFSC-Stock exchanges and depository subsidiaries require initial networth of at least Rs 25 crore and gradually enhance to Rs 100 crore in 5 years-Clearing corporations should have initial networth of Rs 50 crore and gradually enhance to Rs 300 crore in 5 years-Provisions & relaxations provided under SCRA to Indian stock exchanges not eligible for stock exchanges in IFSC

Tata Teleservices (Maharashtra)-Wins additional spectrum of 2.5 MHz each in 800 MHz band in Mumbai and Maharashtra-Bid for Mumbai circle in 800 MHz values at Rs 1,819 crore, for Maharashtra at Rs 1,999 crore-Total upfront payment to be made by company is at Rs 955 crore-Company can now offer 3G/4G services in superior 800 MHz spectrum

Vedanta Resources-Files notice of claim against Government of India under UK-India BIT (Bilateral Investment Treaty)-Notice against Government of India relates to retrospective tax legislation-Tax demand w.r.t to alleged failure to withhold tax on capital gains in FY07-Tax demand from Cairn India at Rs 20,494.7 crore including Rs 10,247.4 crore of interest-Government of India raised a parallel tax demand on Cairn UK Holdings-Notice 1st step prior to commencement of international arbitration under BIT-Will continue to take all necessary steps to protect shareholders’ interest

RBI says-To take special measures during annual closing of accounts of banks on March 31-Change in timings of reverse repo & MSF operations to provide flexibility to banks for liquidity management-Decided to shift timings of reverse repo & MSF operations to 9.00- 9.30 PM from 7.00- 7.30 PM-Will closely monitor evolving liquidity conditions during week-Will conduct appropriate liquidity operations, as may be required

Wipro reshuffles top management in BFSI business-Wipro's BFSI unit to be split between 2 leaders-Wipro's new BFSI heads to report to global head of BFSI, Shaji Farooq-Angan Guha to head Wipro’s North America, Australia, India, ME & EM businessAlert: Angan Arun Guha currently heads Citigroup business unit at Wipro-Shailendra Singh to oversee Wipro’s Rest Of The World operationsAlert: Shailendra Singh currently heads South Africa division of WiproAlert: Reshuffle comes after erstwhile head Rajan Kohli was moved to digital businessWipro to CNBC-TV18-Will align its BFSI unit along geographical lines-Reshuffle will be effective from April 1; to further improve competitiveness-Reshuffle to better serve the needs of global client footprint

RBI-Releases discussion paper on large exposures framework-Releases discussion paper on enhancing credit supply via market mechanism-Invites comments on discussion paper on large exposures framework by April 30RBI says-Large Exposure (LE) limit of each counter party will be capped at 25 percent of eligible capital base-Each counterparty includes a group of connected counterparties-Eligible capital base to be defined as tier-1 capital as against ‘capital funds’ at present-Group of connected counterparties will be identified on ‘control’ & ‘eco interdependence’ as against only ‘control’ -Proposed LE framework will be fully applicable from January 1, 2019

SAT rejects appeals of NSE w.r.t annulment of trades in Emkay case-SAT asks NSE to release withheld payment in 2 weeks

Adhunik Metaliks board approves implementation of CDR package-Adhunik Metaliks board approves conversion of entire debt into equity shares-Adhunik Metaliks increase in limit for creation of security in lenders' favour approved

SKS Microfinance completes 8th securitisation of Rs 344.35 crore in FY15-Total securitisation completed in FY15 is Rs 1,558.66 crore

Other stocks and sectors that are in news today:-TCS says court-convened meeting of shareholders on April 28 to mull merger of CMC with company-SBI set to buy Air India’s Mumbai properties: PTI-Grasim invests Rs 100 crore to develop first fabric brand: ET-ICICI Bank to raise Rs 2,200-2,400 crore via infra bonds: ET-GMR Infra plans to raise Rs 4,000 crore over the next 1 year via divestment of assets to reduce debt: ET-Tata Motors: 5 global and 3 local investment bankers agreed to underwrite more than half the of the Rs 7500 crore rights offer: ET-Union Bank deferred its plan to raise Rs 1,386 crore through QIP to the next fiscal: Mint-SEBI may issue paper on listing norms for start-ups this week: PTI-TRAI releases consultation paper on regulatory framework for over-the-top (OTT) services-Indian Bank CMD TM Bhasin gets 14 months extension, until superannuation date of May 31, 2016-Tata Coffee appoints Sanjiv Sarin as MD & CEO w.e.f. April 25-Hero MotoCorp appoints Shobana Kamineni as non-executive & independent director w.e.f. March 27-Pennar Industries says subsidiary Pennar Engineered Buildings files DRHP with SEBI on March 27-BPCL says to shut Bina Refinery from Friday for about a month for routine maintenance: Reuters-Delhi Government bans sale, purchase & storage of chewable tobacco in all forms from Monday: PTI-EID Parry divests entire stake of 1.02 lakh shares at Rs 100/share in Alagawadi Bireshwar Sugars-MSP Steel says CDR cell approves company's proposal to restructure debt