TOP CORPORATE NEWS - 07 JUNE 2016

ICICI Bank gains fund raising plans

Shares of ICICI Bank surged 4.5% to Rs254.5 on NSE on reports that the company has plans to seek shareholder nod to issue NCDs up to Rs25,000 Cr On Pvt placement basis annual general meeting of the bank is scheduled for July 11th 2016

The stock opened at Rs245.50 marking an intraday high of Rs254.85 and a low of 244.7 on NSE.

Coal India plans to come up with buy back proposal

Coal India is set to come up with buy back proposal in next board meeting as per media reports.

However the date of the meeting and size of the buyback is yet to be decided. The subsidiaries of Coal India will buy back by 25% their own shares from parent thus providing Coal India with enough cash to pursue its own buy back.

Strides gets EIR report from USFDA

Strides Shasun has announced that the Company's Oral Dosage Forms manufacturing site (KRS Gardens) in Bangalore which was inspected by the USFDA in February 2016 has received the Establishment Inspection Report (EIR), thereby confirming the closure of the inspection.

The facility continues to be USFDA Approved. The KRS Gardens facility in Bangalore manufactures oral dosage forms including tablets, capsules (both hard gelatine and soft gelatine).

The manufacturing plant supports important current and future submissions for the US Market.

RBI maintains status quo

RBI Keeps Repo Rate unchanged at 6.50%.

RBI Keeps CRR unchanged at 4%.

FY17 GDP Growth target kept unchanged at 7.6%.

M&M Finserv raises huge sum through public issue of NCDs

Mahindra & Mahindra Financial Services Ltd: Mahindra & Mahindra Financial Services Ltd has raised Rs10, 00, 00, 00,000 (Rupees One Thousand Crores) through public issue of NCDs.

                                   

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