IndusInd Bank in spotlight ahead of Q1 earnings

IndusInd Bank is scheduled to announce Q1 June 2017 earnings today, 11 July 2017.

State Bank of India's (SBI) executive committee of the central board has given the final approval for divestment of 8 crore shares in SBI Life through an initial public offering (IPO). The shares being offered for sale by SBI will be available at a price that would be fixed and determined by SBI Life, SBI, and BNP Paribas Cardiff, in consultation with the book-running lead managers, SBI said. The announcement was made after market hours yesterday, 10 July 2017.

Bharti Airtel announced the launch of Project Next - its digital innovation program aimed at transforming customer experience across all of its services and touch points. Airtel said it plans to invest up to Rs 2000 crore over the next 3 years under Project Next to launch several exciting digital innovations to step change the simplicity and interactivity of the Airtel customer experience. Project Next complements Airtel's massive investments towards building a future ready network under Project Leap. The announcement was made at the fag end of market hours yesterday, 10 July 2017.

Gujarat State Fertilizers & Chemicals (GSFC) announced an emergency shutdown of ammonia-IV plant on 6 July 2017 due to detection of leakage of high pressure process gas from hot header of reformer box. Urea-II plant was also shutdown due to non-availability of CO2 gas which is by product of ammonia-IV plant. All other plants of GSFC are operational with supply of ammonia from ammonia storage tanks. Efforts are being put to rectify the problem and put back the plant on regular operation. The announcement was made after market hours yesterday, 10 July 2017.

Reliance Power said it has redeemed and paid interest in respect of its 2500 -10.20% unsecured redeemable non-convertible debentures series I (2016) of Rs 10 lakh each aggregating to Rs 250 crore on the due date 10 July 2017. The announcement was made after market hours yesterday, 10 July 2017.

Bajaj Electricals had advanced a sum of Rs 3.80 crore to Starlite Lighting (SLL) as a short term loan inter-alia on the collateral security by way of pledge by the promoters of SLL of 38 lakh equity shares, 28% equity, held in SLL, under an agreement of pledge of shares dated 23 February 2007, with a right to the company to purchase the same, at its sole discretion, at a pre-determined consideration of Rs 3.50 lakh.

The company has now exercised its right to acquire these shares and with this acquisition, the shareholding of the company in SLL has increased from 19% to 47%. The above transaction falls within the purview of related party transactions. The announcement was made after market hours yesterday, 10 July 2017.

Cyient said it has subscribed to 49% of share capital of a newly incorporated company Cyient Solutions and Systems. The announcement was made after market hours yesterday, 10 July 2017.

Powered by Capital Market - Live News