NMDC in focus as board approves share buyback

NMDC board approved the proposal to buyback of not exceeding 10,20,40,815 equity shares (representing 3.23% of the total number of equity shares in the paid-up share capital of the company) at Rs 98 per equity share for an aggregate consideration not exceeding Rs 1000 crore from all the equity shareholders of the company, as on the record date, on a proportionate basis through a tender offer route. The announcement was made after market hours yesterday, 8 January 2019.

IndusInd Bank will declare its Q3 December 2018 results today, 9 January 2019.

Tata Steel said that standalone steel production was marginally up in Q3 December 2018 over Q3 December 2017 with steady plant utilization. Sales volume was lower due to seasonal headwinds, particularly in terms of softer Automotive demand, and inventory replenishment. The announcement was made after market hours yesterday, 8 January 2019.

Oriental Bank of Commerce said that the board of directors of the bank approved the proposal for raising capital for an amount upto Rs 5500 crore through issuance of equity shares to the government of India on preferential basis. Separately, the Bank sold 0.8425% equity stake in NSDL e- Governance Infrastructure out of 3.125% equity stake held prior to the sale. The announcement was made after market hours yesterday, 8 January 2019.

Kridhan Infra announced that its Singapore Subsidiary - Swee Hong together with its step-down subsidiaries, has successfully secured a contract from the Public Utilities Board worth SG$ 32.5 million (Rs 167.6 crore) in aggregate for construction of link sewers for the DTSS Phase 2 Project at Old Choa Chu Kang Road/ Jalan Bahar, in Singapore. The announcement was made after market hours yesterday, 8 January 2019.

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