Punj Lloyd’s arm Pt Engineering sold its entire stake in UK-based Simon Carves Engineering to Engineers and Constructors International Inc for $2 million (over ₹13 crore). The buyer Engineers and Constructors International Inc is a design and engineering company belonging to the Mitsui Group, Punj Lloyd informed the exchanges in a notification. Shares of Punj Lloyd jumped 4 per cent at ₹20.5 on the BSE.

Indiabulls Housing Finance will raise ₹1,000 crore by issuing non-convertible redeemable bonds on private placement basis. In a notification to the exchanges, the company said the issue will have a greenshoe option as well. Earlier, shareholders of Indiabulls Housing Finance had approved the proposal in the AGM held in September last year. The issue, which opens on August 8 and 9, will carry coupon rates of 8.65-8.80 per cent and the tenure of maturity is 19 months/two years/three years. The proceeds will be used for meeting capital adequacy requirements, securing long-term resources for meeting funding needs, general corporate purposes and investment in funds. The stock closed 1.67 per cent higher at ₹801.35 on the BSE.

The board of JMT Auto on Thursday approved sub-division of equity shares of the company of face value ₹2 each fully paid-up be sub-divided into two equity shares of face value ₹1 each. Shares of JMT Auto closed flat at ₹54.65 on the NSE against the previous day's close of ₹54.75.

Published on August 4, 2016