Bhel in spotlight after shareholder nod for bonus share issue

State-run Bhel said that its shareholders have approved the proposals to issue bonus shares and make a dividend payout. The PSU major had proposed to issue one bonus share for every two existing shares held in the company. The announcement was made after market hours yesterday, 25 September 2017.

Tata Motors will be watched after media reports suggested that its foreign unit Jaguar Land Rover (JLR) is eyeing potential acquisitions of international automakers. JLR has reportedly been holding internal discussion on acquiring other brands in order to diversify its range of vehicles. It will consider purchases of luxury marques that fit with its current portfolio. The luxury vehicle unit is also said to be exploring acquisitions of technology companies to bolster the roll out of electric vehicles and autonomous driving systems.

Chennai Petroleum will be watched. The board of directors of Indian Oil Corporation (IOCL) gave an in-principle approval for the proposal of its subsidiary Chennai Petroleum Corporation (CPCL) to set up a refinery in Tamil Nadu at an estimated cost of Rs 27460 crore. With this approval, the pre-project activities for proposed refinery with a capacity of 9 MMPTA (with an accuracy of +30%) would be commenced soon, and the final approval of the project would be obtained after preparation of detailed feasibility report, CPCL said in a regulatory filing with stock exchanges.

IDBI Bank said it sold 53.19 lakh shares, or 1% stake, in Small Industries Development Bank of India (Sidbi) on Friday, 22 September 2017. The announcement was made after market hours yesterday, 25 September 2017.

IFCI said its board approved sale of 0.86% stake in NSE to investors. At present, IFCI holds 1.51 crore equity shares, comprising of 3.05% of the total equity shares in NSE. Out of 3.05% equity stake, IFCI has offered to offload 34,31,880 equity shares comprising of 0.69% of the total equity shares of NSE through IPO of NSE. Out of the remaining 2.36% of the total equity stake in NSE comprising of 1.16 crore equity shares, the board at its meeting held on 25 September 2017 has approved the sale of 42,43,370 equity shares comprising of 0.86% of the total equity shares of NSE to one or more interested buyers in part or full. The sale would be subject to obtaining prior consent / no-objection of NSE and any other approval, required as per law. The announcement was made after market hours yesterday, 25 September 2017.

Just Dial announced closure of its share buyback from 25 September 2017. The buyback opened on 9 August 2017. The company bought back 22.41 lakh equity shares at an average price of Rs 374.18 each. The company deployed Rs 83.85 crore, which represents approximately 99.93% of the maximum buy-back size. Post buyback, the number of equity shares reduced to 6.73 crore. The announcement was made after market hours yesterday, 25 September 2017.

Powered by Capital Market - Live News