Indian Oil Corporation in focus after buyback, interim dividend

Indian Oil Corporation's board approved buyback of equity shares of the company not exceeding 29.76 crore equity shares being approximately 3.06% of the total paid up equity share capital of the company at Rs 149 per share for an aggregate consideration not exceeding Rs 4435 crore on a proportionate basis through the tender offer route. The board of directors also declared an interim dividend of Rs 6.75 per share for the financial year 2018-19. The company has fixed 25 December 2018 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend as well as for buyback of equity shares. The announcement was made after market hours yesterday, 13 December 2018.

Adani Defence Systems and Technologies, a wholly owned subsidiary of Adani Enterprises has acquired stake in Alpha Design Technologies (ADTL). ADTL was established in 2003 for the design, development and manufacture of defence electronics and avionics. The announcement was made after market hours yesterday, 13 December 2018.

NMDC reported iron ore production of 18.76 million tonnes and iron ore sales of 19.30 million tonnes up to the month of November 2018. The announcement was made after market hours yesterday, 13 December 2018.

Dilip Buildcon said that DBL Rewa Sidhi Highways, wholly owned subsidiary of the company has received the financial closure from the National Highways Authority of India and has declared the financial closure of the SPV on 5 October 2018. The announcement was made after market hours yesterday, 13 December 2018.

Indian Energy Exchange has scheduled a board meeting on 20 December 2018 to consider share buyback proposal. The announcement was made after market hours yesterday, 13 December 2018.

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