ICICI Bank in focus on cutting deposit rates
ICICI Bank cut deposit rates by 50 basis points and the revised rates were effective 11 September 2012. The bank cut rates across maturities ranging from 91 days to less than five years.
Glenmark Pharmaceuticals said that GBR 500 had entered Phase II clinical development. This Phase II clinical trial is part of a strategic global collaboration between Glenmark and Sanofi to investigate GBR 500 for the treatment of chronic inflammatory disorders.
The Union Cabinet on Friday, 14 September 2012, may reportedly approve stake sale in five state-run companies, as the government scrambles to meet disinvestment target of Rs 30,000 crore set in the Union Budget.
According to reports, the finance ministry has sought permission for selling stakes in four companies in the mineral sector and an oil explorer and producer. The companies are Hindustan Copper, NALCO, Neyveli Lignite, Oil India and MMTC.
Infosys might reportedly consider returning money to shareholders and making acquisitions to utilise the biggest amount of cash among outsourcers in the country. As on 30 June 2012, the company's cash and cash equivalents, including investments in available-for-sale financial assets, certificates of deposits and government bonds was Rs 20596 crore (Rs 16969 crore as on 30 June 2011).
NMDC turns ex-dividend today, 13 September 2012, for final dividend of Rs 2.50 per share for the year ended 31 March 2012 (FY 2012). Orchid Chemicals & Pharmaceuticals turns ex-dividend today, 13 September 2012, for dividend of Rs 3 per share for FY 2012. BGR Energy systems turns ex-dividend today, 13 September 2012, for dividend of Rs 7 per share for FY 2012. Repro India turns ex-dividend today, 13 September 2012, for dividend of Rs 10 per share for FY 2012.
Shipping Corporation of India said it delivered a crude oil tanker m.t. 'C V Raman' to its buyer.
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