Bhel gets shareholders’ nod for bonus share issue, 79% dividend
Posted on 25th September 2017 |
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| New Delhi: State-owned power equipment maker Bhel has received shareholders’ approval for the proposal to issue 1 new equity bonus share for every 2 existing shares. The proposal to issue bonus share in the ratio of one bonus share for every 2 existing shares to members was listed on the agenda for annual general meeting held on 22 September, 2017, which as passed by the requisite majority, Bharat Heavy Electricals Ltd (Bhel) said in a BSE filing on Monday. The shareholder have also approved the proposal to give a final dividend of 39%. With this, the total dividend for the year 2016-17 will stand at 79%. According to the proposal, shareholder will be issued one new bonus equity share of Rs2 each for every 2 existing shares of Rs2 each fully paid up. Prior to the bonus issue, the company has 244.76 crore shares of Rs2 each aggregating Rs489.52 crore. Post bonus issue the number of share will increase to 367.14 crore of Rs2 each aggregating at Rs734.28 crore. The company will require Rs244.76 crore free reserves for implementing the bonus issue. As on 31 March, 2017, the company had defined free reserves and surplus of Rs31,769.74 crore. Earlier, the company had said that the bonus share are estimated to be credited to shareholder account by 9 October, 2017. The company’s shares closed at Rs127.35 apiece, down 1.85% at BSE. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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