Quick view: Tata Motors stock falls 5% on JLR capex plans

Dec 13 2013, 03:43 IST
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SummaryShares of Tata Motors fell 5% amid reports that UK unit Jaguar Land Rover (JLR) has expanded its capex guidance for the fiscal year ending March 2015...

Shares of Tata Motors fell 5% amid reports that UK unit Jaguar Land Rover (JLR) has expanded its capex guidance for the fiscal year ending March 2015, raising concerns that it may strain the company’s cash flows in short-term. The auto major’s scrip tanked 4.55% to close the day at R360.60 on BSE. In intra-day, the stock declined 4.88% to R359.35. At the NSE, the stock dived 4.69% to settle at R360.10. The scrip was the top loser on both Nifty and Sensex.

Srei Infra seeks Sebi nod to raise R100 cr via NCDs

Srei Infrastructure Finance has sought market regulator Sebi’s approval for raising up to R100 crore through non-convertible debentures (NCDs). NCDs are loan-linked securities issued by a company and cannot be converted into stocks. They usually carry a higher interest rate than a convertible debenture. “Public issue by Srei Infrastructure Finance of secured redeemable non-convertible debentures of face value of R1,000 each, for an amount up to R1,000 million,” the company said in the draft prospectus filed with Sebi.

SAT lowers Sebi’s fine on Rose Valley by R90 lakh

The Securities Appellate Tribunal (SAT) on Thursday upheld Sebi’s order against Rose Valley Real Estates And Construction, in a case related to failure of the company to comply with summons issued by the market regulator but drastically reduced the fine amount. SAT reduced the quantum of penalty imposed on the real-estate firm by Sebi from R1 crore to R10 lakh and asked it to pay the fine within two months.

Facebook to join S&P 500 on Dec 20

Standard & Poor’s on Wednesday said Facebook will join its S&P 500 stock index after the close of trading on December 20, cementing the social media network’s rise into one of the biggest, most powerful US companies. The decision follows Facebook reporting its fourth straight profitable quarter in October, one of the criteria that S&P uses to determine eligibility for the index. Facebook shares rose 4.3% to $51.51 following S&P’s announcement after regular market hours.

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