2. SEBI slams the door on non-compliant FIIs Over 500 foreign portfolio investors were barred from trading in the Indian stock market from Friday for their failure to comply with a SEBI norm required to invest in the country. 197 foreign institutional investors (FIIs) and 342 sub-accounts have not complied with the ‘broadbase structure The regulator also received applications from some of the non-compliant entities for surrender of registration.
3. Tata Motors plans $525m share sale Tata Motors is likely to launch a $525-million to institutional on Friday In June, Tata Motors had planned to raise about $1.1 billion through a combination of , , and other equity-linked instruments to cut debt and grow its business The company, which had net debt of about $4 billion on its books at the end of March 2010, has reduced its debt-to-equity ratio to 2.05 from 4 in March 2009
4. RBNL raises Rs 283.25 cr; allots 3.33 cr shares raised Rs 283.25 crore by allotting a total of over 3.33 crore shares to potential investors and promoters of the company The allotment of balance shares as approved by the shareholders will be considered after receipt of relevant approval from The board of the company had last month approved the allotment of up to 5 crore equity shares of the company at a price of Rs 85 per equity share
5. RIL cuts offshore crude output Reliance Industries has cut crude oil output at an offshore field by 29% after wells were unable to sustain a higher rate of production The oil field is part of the KG-D6 block, India’s biggest natural gas producing area, where full output of the cleaner- burning fuel has been delayed because of inadequate pressure Reliance produced 304,349 tonnes of crude oil from the area in the three months ended June 30, according to a July 27 statement. That’s equivalent to an average 26,700 barrels a day.
6. L&T sells 2.4% stake in Satyam for $66 million Indian engineering conglomerate Larsen & Toubro has sold 2.4 percent stake in Mahindra in September Larsen raised 2.95 billion rupees ($66.3 million) from the stake sale and now holds 2.16 percent in Satyam. L&T had built a 12 percent holding in Satyam, but the expansion of share capital following the takeover meant it held 6.9 percent in Mahindra Satyam
7. Nifty may find support at 5300 level The started Wednesday’s trade on a rather timid note. As the underlying index was quietly drifting downwards, the futures started trading at a deeper discount of nearly 10 points with 195 crore shares in open interest. With nearly 70% of the stocks still trading with a premium The fall amid global uncertainties has brought the Nifty once again to the level of 5400