Infosys to delist shares from Paris, London Euronext
Posted on 13th March 2018 |
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| Infosys will delist its American Depository Shares (ADS) from the Euronext Paris and Euronext London exchanges primarily due to lower trading volume, even as the company’s shares will continue to trade on the New York Stock Exchange (NYSE). In a notice to the exchanges, Infosys stated, “The primary reason for seeking the proposed delisting is the low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements.” According to Infosys, during the five-year period of the company’s listing on Euronext Paris and Euronext London, the average daily trading volume of the company’s ADS was significantly lower than its average daily trading volume on the NYSE. The Infosys ADS closed at €14.40 on the Euronext Paris on March 9. Infosys made its foray into the Euronext in December 2012 following its move to delist from Nasdaq and list primarily on the NYSE. The move was primarily to give better access to investors based in Europe. The proposed delisting is subject to approval from Euronext Paris and Euronext London. Infosys said there will be no change to the Infosys share/ADS count, capital structure and float, as a result of the proposed delisting from the exchanges. “Infosys ADS will continue to be listed on the NYSE under the symbol ‘INFY’ and investors can continue to trade their ADS on the NYSE as before,” it said. Infosys ADS on NYSE closed at $18.16 on March 9. Infosys said, “ADS holders, who opt for the sales facility will be able to sell their ADS on the NYSE in accordance with Euronext Paris and Euronext London rules. ADS holders who do not opt for the sales facility can continue to keep their ADS and will be able to trade their ADS on the NYSE.” |
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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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