TOP CORPORATE NEWS

·        GMR Infra, JP Associates fall after launching QIP

Shares of GMR Infrastructure and Jaiprakash Associates have declined more than 4% each after both these companies announced launch of qualified institutional placement on July 2 to raise funds.

·        HDIL to divest 100% shareholding in HDIL Entertainment

Housing Development and Infrastructure Ltd has entered into definitive agreements with respect to transfer of its 100% shareholding of its wholly owned subsidiary company, viz HDIL Entertainment.

                                                                                                        

·        Reliance Cap up 1% on plans to sell non-core assets

Shares of Reliance Capital jumped over 1 percent it is beginning the process of unlocking value from investments in non-core sectors to focus on its key financial services businesses.

·        Ranbaxy Laboratories too has gained 3.8%

Ranbaxy Laboratories has gained 3.8% to Rs 543, its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to manufacture and sell generic Diovan in the US.