Market news

| | Updated on: Feb 17, 2011

ARSS Infrastructure Projects Ltd has received work order from the Government of Assam for Rs 104.05 crore.

Bank of Maharashtra has said that the Government of India has decided to infuse Rs. 352 crore in the bank by way of preferential allotment of equity shares in its favour.

Dena Bank has received communication from the Government of India conveying its decision to infuse Rs. 539 crore by way of preferential allotment of equity shares.

Gujarat Narmada Valley Fertilizers Company Ltd has said that with regard to the claim made over the explosion followed by fire in Waste Heat Boiler in ammonia plant on February 10, 2010, causing disruption in the operation of the plants for about 4 months, New India Assurance Company (NIA) has settled the claim and paid Rs. 141.20 crore on February 16, 2011 in full and final settlement.

Ion Exchange India Ltd has convened a meeting of the Board of Directors on February 22 to consider restructuring of one of the divisions of the company subject to necessary approvals.

Panyam Cements and Mineral Industries Ltd has approved investments by Foreign Institutional Investors including their sub-accounts in the shares of the company by purchase or acquisition from the market under the Portfolio Investment Scheme under FEMA, subject to the condition that the total holding of all FIIs put together shall not exceed 40 per cent of the paid up equity share capital subject to all required approvals.

Pipavav Shipyard Ltd has signed a MoU with Northrop Grumman Overseas Service Corporation , Delaware, USA, which is one of the largest defence companies having expertise in defence systems, airspace management systems, navigation systems, precision weapons and marine systems.

The MoU will allow the company to focus on huge opportunities present in the defence sector in India with the expertise of Northrop.

Vijaya Bank's Board of Directors will on February 22 consider preferential issue of equity shares aggregating to Rs. 368 crore to the Union Government.

Published on February 17, 2011

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