Bharti Airtel after market hours yesterday, 26 August 2015, announced that it has signed a definitive agreement to acquire 100% equity stake in Augere Wireless Broadband India (Augere), which holds 20 MHz of BWA spectrum in the telecom circles of Madhya Pradesh and Chhattisgarh.
Sun TV Network after market hours yesterday, 26 August 2015 said that it has partnered with HOOQ, Asia's biggest premium video-on-demand service in a multi-year deal. HOOQ has recently entered into the Indian market with over 30,000 hours of movies and TV series and will now carry Sun TV's library that includes a mix of super hit films from Tamil, Telugu, Malayalam & Kannada languages, Sun TV Network said in a statement.
NHPC after market hours yesterday, 26 August 2015 said that Unit 3 of Chutak Power Station has been restored on 26 August 2015.
GAIL (India) turns ex-dividend today, 27 August 2015, for final dividend of Rs 3 per share for the year ended 31 March 2015 (FY 2015).
Construction stocks will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has yesterday, 26 August 2015, amended its earlier approval dated 13 May 2015 for permitting 100% equity divestment after two years of construction completion for all build operate transfer (BOT) projects, irrespective of year of award. The approval would allow the concessionaire(s)/promoter(s) to use proceeds from the sale of divested equity in one or more of the following ways including Incomplete National Highway Authority of India projects, any other highway projects any other power sector projects; and to retire their debt to financial institutions in any other infrastructure projects.
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This will result in physical completion of languishing infrastructure projects. This in turn will bring relief to citizens /travellers in the concerned area. The main object of the approval is to expedite award and implementation of highway projects in the country by making additional funds available for investment in projects. Consequently, it will facilitate uplifting socio-economic condition of the entire nation due to increased connectivity across the length and breadth of the country. This will also lead to enhanced economic activity.
Shriram EPC's board of directors at its meeting held yesterday, 26 August 2015, approved allotment of 78.19 lakh equity shares of the company at Rs 32.98 per share to CDR lenders on conversion of funded interest term loan (FITL), on preferential basis pursuant to corporate debt restructuring scheme. The Board also approved allotment of 58.55 lakh equity shares at Rs 40.05 per share to CDR lenders on conversion of Sacrifice Amount, on preferential basis pursuant to corporate debt restructuring scheme.
SKS Microfinance after market hours yesterday, 26 August 2015 said that it has issued commercial papers (CP) of an aggregate amount of Rs 25 crore on 26 August 2015, which have been rated 'A1+' by a leading rating agency. The aggregate CP outstanding as on date is Rs 475 crore, SKS Microfinance said.
Hathway Cable & Datacom will be in focus. The Reserve Bank of India (RBI) yesterday, 26 August 2015, notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now purchase shares of Hathway Cable & Datacom after the RBI has, with immediate effect, withdrawn the restrictions placed on the purchase of shares of the company after the company passed necessary resolutions at the level of its Board of Directors and shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The investments can go up to 74% (revised from earlier limit of 49% stipulated under Foreign Direct Investment policy) of the company's paid up capital through GDR/ADR/FDI under the Portfolio Investment Scheme (PIS) in primary market and stock exchanges.
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