NMDC in focus as government to divest stake in OFS

Shares of NMDC will be in focus after government's plan to sell stake in the company through an offer for sale at a floor price of Rs 153.50 per share. The President of India, acting through and represented by the Ministry of Steel, Government of India, is the promoter of NMDC (Promoter). The promoter proposes to sell up to 4.74 crore (1.5%) equity shares on 9 January 2018 (for non-retail investors only) and on 10 January 2018 (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids) with an option to additionally sell up to 4.74 crore (1.5%) equity shares of NMDC. The announcement was made after market hours yesterday, 8 January 2018.

Tata Motors will be watched after its foreign unit, Jaguar Land Rover (JLR), reported 0.6% rise in retail sales to 55,697 vehicles in December 2017 over December 2016. The announcement was made after market hours yesterday, 8 January 2018.

JLR retail sales in December were up in overseas markets (19.0%) and in China (12.6%) but down in the UK (15.8%), US (9.2%) and Europe (4.6%), reflecting weaker market conditions in the UK and to a lesser extent the US.

Jaguar retail sales fell 7.8% to 15,079 vehicles in December 2017 over December 2016, as solid sales of the long wheel base Jaguar XFL in China and the introduction of the E-PACE were more than offset by softer sales of XE and XJ.

Land Rover retail sales rose 4.1% to 40,618 vehicles in December 2017 over December 2016, led by the introduction of the Range Rover Velar and the sales ramp up of the all new Discovery.

Aarti Drugs has fixed 19 January 2018 as record date for buyback of upto 2.75 lakh shares representing upto 1.15% stake at Rs 875 per share. The announcement was made after market hours yesterday, 8 January 2018.

Deep Industries said that the company has incorporated a subsidiary company in name of Deep International DMCC in Dubai on 7 January 2018. The announcement was made after market hours yesterday, 8 January 2018.

Sutlej Textiles and Industries' board approved setting up of a plant in Jammu and Kashmir to manufacture polyester staple fibre. It also deferred plans of expanding its Baddi facility due to uncertain markets conditions in the yarn segment. The announcement was made after market hours yesterday, 8 January 2018.

Powered by Capital Market - Live News