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Over 97.46 lakh pledged shares of SpiceJet released

Low-cost carrier SpiceJet on Monday said more than 97.46 lakh shares pledged by one of its promoter, Kal Airways, have been released. Kal Airways held 15.65 crore, or 32.32%, stake in SpiceJet as of December quarter. In a disclosure to the BSE, Spicejet said that over 97.46 lakh equity shares of the company, pledged by Kal Airways have been released. SpiceJet last month reported a net profit of R102 crore for the third quarter ended December, 2012.

Sebi fines three GEE promoter entities

The Securities and Exchange Board of India (Sebi) has imposed a total penalty of R27 lakh on three promoter entities of GEE for alleged fraudulent trading in the firm’s shares. Sebi slapped a fine of R18 lakh on Vidya Finvest, R6 lakh on Sanwarmal Agarwal and R3 lakh on Shankarlal Agarwal. Shankarlal Agarwal is also the MD of GEE, while Sanwarmal Agarwal is executive director of the company, a Sebi order said. The case relates to Sebi's probe into trading in shares of GEE between April 28 and August 31, 2009.

Goldman reiterates ‘buy’ on Crompton Greaves

Goldman Sachs has retained its ‘buy’ rating on Crompton Greaves and added the stock to its Asia-Pacific Conviction List. Goldman cited a favourable risk-reward ratio after the power equipment maker completed the restructuring of its Belgium plant in the quarter ended in December. The bank added that Crompton Greaves’ valuations are trading at a historical trough,

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