Videocon rights issue

New Delhi, Nov. 3: Videocon Industries’ board has approved raising Rs 1,245 crore by issuing shares on rights and preferential basis. It will raise up to Rs 1,200 crore by allotting shares on rights basis and Rs 45 crore by issuing shares on preferential basis to an independent non-promoter investor.

NCD norms

Mumbai, Nov. 3: The Reserve Bank today came out with draft guidelines to regulate the issuance of non-convertible debentures (NCD) with a maturity of less than a year by companies. NCDs — a debt instrument through which companies raise capital — with a maturity of less than a year were not regulated by either Sebi or the RBI so far.

RIL gas case

New Delhi, Nov. 3: RIL and RNRL today joined hands to oppose the plea of a shareholder in both the companies to be made party in their ongoing dispute in the Supreme Court over the gas price to be supplied from the KG basin.

Cognizant net

Calcutta, Nov. 3: Cognizant Technology Solutions today reported a net income of $136.6 million, or 45 cents a share, for the third quarter ended September, against $112.8 million, or 38 cents a share, a year earlier.

J&J layoffs

New York, Nov. 3: Johnson & Johnson (J&J) will slash around 8,190 jobs worldwide, as part of its restructuring initiatives. The company has a global workforce of 1,17,000 employees.

Essar talks

New Delhi, Nov. 3: Essar Oil has time till the end of this month to conclude talks for acquisition of Royal Dutch Shell’s three refineries in Europe. “We have entered into exclusivity agreement with Shell,” Essar Oil CEO Naresh K. Nayyar said.

SBI foray

Mumbai, Nov. 3: The State Bank of India is set to start wealth management business and financial planning services. This would mean additional fee income for the bank, an official said.