Five things to watch out for today

| Updated on April 09, 2018 Published on April 08, 2018

1) The Supreme Court is to hear, on April 9, the Centre’s plea to extend the deadline for framing a scheme to implement its February 16 judgement in the Cauvery water dispute. Chief Justice of India Dipak Misra said the Centre’s application would be heard along with a contempt petition filed by Tamil Nadu. The state has accused the Centre of not “protecting the interests of the farmers and the larger interests of the State”. The February 16 judgement in the Cauvery appeals had directed the Centre to frame the scheme in six weeks.

2) Prime Minister Narendra Modi will address the CPSE Conclave at Vigyan Bhawan on Monday. Senior officers of Central Public Sector Enterprises and top ministry officials will attend the conclave, which will feature presentations on best practices in CPSEs. Presentations on subjects such as corporate governance, human resource management, financial re-engineering, and innovation would be made at the meeting.

3) Lemon Tree Hotels is to debut on the bourses today. The company in consultation with merchant bankers has fixed its final issue price at Rs 56 per share. The public issue was subscribed 1.19 times during March 26-28, 2018. The Rs 1,038.68 IPO has received bids for 15.49 crore shares against the total issue size of 12.98 crore shares.

4) Muthoot Finance has announced a public issue of non-convertible redeemable debentures that will open on April 9 and close on May 8 with an option to close earlier and/or extend up to a period as may be determined by a committee of the Board. The company has filed a shelf prospectus for issue of secured redeemable NCDs of face value Rs 1,000 each aggregating up to Rs 3,000 crore (‘Shelf Limit’). The tranche I issue is with a base issue size of Rs 500 crore with an option to retain over-subscription up to shelf limit of Rs 3,000 crore.

5) Congress president Rahul Gandhi has directed all state party units to organise a nationwide fast on April 9 to protect and promote communal harmony across the nation. All PCC presidents have been told to organise the fast in all states and district headquarters, terming what happened during Bharat Bandh protests on April 2 as "very unfortunate" and "dangerous for the social fabric of the country".

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Published on April 08, 2018
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