Market regulator Sebi on Wednesday signed a memorandum of understanding (MoU) with Dubai Financial Services Authority (DFSA) for cooperation. DFSA is the sole independent regulator of all financial and ancillary services conducted through the Dubai International Financial Centre, a 110-acre free zone. The MoU was signed by Sebi Chairman CB Bhave and Paul Koster, chief executive of DFSA, a Sebi release said.
Sensex sheds 70 pts
The country's equity indices, after witnessing intense volatility throughout the trading session, ended the day with minimal losses. The 30-share Sensex of the Bombay Stock Exchange (BSE) lost 69.91 points or 0.43% to close the day at 16,283.49 points. The broader S&P CNX Nifty of the National Stock Exchange (NSE) was down by 20.55 points or 0.42% to close at 4,826.15 points.
Bhel bags Oman order
Bharat Heavy Electricals Ltd (Bhel) has bagged a Rs 205-crore export order for a gas turbine generating unit from the Sultanate of Oman. The order envisages supply, supervision and commissioning of 126-mw gas turbine generating unit for a power project being set up by Petroleum Development Oman (PDO) at Qarn Alam, nearly 400 km from Muscat, a statement said.
Tata Motors no to new models
Tata Motors on Wednesday said it would not launch any new models at least for next two years. "We have already invested Rs 2,200 crore for making the Indigo Manza and Indica Vista platforms. We will not launch new models except for the variants of the existing ones for the next two years," Tata Motors car product group general manager Nitin Seth said.
Videocon stock split talks
Consumer durables major Videocon Industries on Wednesday said its board would meet on October 31 to consider the stock split proposal. The company board would meet to "consider the proposal for issue of equity shares on right basis," Videocon said in a filing to the BSE.
McNally Bharat stake
McNally Bharat Engineering Company on Wednesday said it has sold 1.48 lakh equity shares of McNally Sayaji Engineering Ltd to EIG (Mauritius) on October 20. With this sale, the company's holding in MSEL has decreased from 64.78 lakh equity shares to 63.29 equity shares of issued capital, McNally Bharat said in a filing to the BSE.
HMSI on backlog
Honda Motorcycles & Scooters India (HMSI) on Wednesday said that it would be able to bring down the backlog of close to 1.5 lakh bookings to normal levels of around 30,000-40,000 units in another three to four months time.
JK Tyre plant commissioning
JK Tyre has completed expansion of its radial tyre manufacturing plant in Mysore, more than doubling the capacity to eight lakh tyres per annum.