TVS Srichakra to sell its shareholding in TVS Europe Distribution
Posted on 8th February 2016 |
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| TVS Srichakra Limited (TSL) proposes to sell its entire shareholding in its subsidiary, TVS Europe Distribution Limited (EDL), in favour of TVS Automobile Solutions Limited, the company has informed exchanges. The firm holds 33,25,000 shares held in TVS Europe Distribution and also proposes to purchase / acquire 15,89,699 compulsory convertible preference shares (CCPS) in TVS Automobile Solutions Limited (TVS ASL) amounting to Rs 40 crore. The Board of Directors of the company, at their meeting held on February 6, 2016, had approved the sale of equity shares in TVS EDL and purchase of CCPS in TVS ASL, said the company in the announcement. TVS Srichakra Limited also said that its wholly-owned subsidiary, TVS Srichakra Investments Limited (TSIL), had offered to convert the unsecured loan amounting to Rs 34.59 crore granted by TSL, to unsecured optionally convertible debentures (OCDs), and had further offered fresh issue of OCDs not exceeding Rs 10 crore both having a tenor of 4 years 11 months. The board meet had also approved the conversion of unsecured loan and further subscription to OCDs. |
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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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