Indiabulls Housing Finance's (IBHFL) consolidated net profit rose 25.82% to Rs 861.06 crore on 16.26% growth in total revenue to Rs 3342.48 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 23 October 2017.
IBHFL's board approved the proposal of issuing secured and unsecured non-convertible debentures (NCDs), upto Rs 25000 crore and Rs 3000 crore respectively, on private placement basis. The board has also approved raising funds by way of issue of secured/unsecured, rupee denominated overseas bonds/foreign currency denominated bonds, upto the maximum amount, as permissible under the applicable regulations.
IBHFL's board declared an interim dividend of Rs 9 per share for FY 2018.
Infosys, HDFC Bank, Asian Paints, Ambuja Cements, ICICI Prudential Life Insurance Company, Zee Entertainment Enterprises and ABB India will announce July-September 2017 quarterly results today, 24 October 2017.
IndusInd Bank said that the bank in association with MobiKwik, India's largest issuer-independent digital financial services platform, launched a co-branded wallet 'IndusInd Mobikwik' that allows IndusInd Bank customers to pay at the 2 million strong MobiKwik merchant network using their accounts, with a 'Direct Debit Feature'.
The unique 'Direct Debit Feature' will allow IndusInd Bank account holders to link their accounts just once and pay using the cobrand App as and when required, thereby eliminating the need to load the MobiKwik prepaid wallet separately. The transaction is authorized with an additional factor of authentication, in line with mobile banking guidelines. The announcement was made after market hours yesterday, 23 October 2017.
Reliance Communications (RCom) said it has received the Department of Telecommunication's (DoT) approval for the demerger of the wireless business of Sistema Shyam Teleservices (SSTL) into RCom. With this, RCom will acquire approximately 2 million customers and additional annual revenues of around Rs 700 crore. In addition, RCom will acquire 30 MHz of the most valuable and superior 800/850 MHz band spectrum, ideally suited for 4G LTE services, to complement its own unique nationwide footprint. The announcement was made after market hours yesterday, 23 October 2017.
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As a result of the demerger, SSTL will receive a 10% equity stake in the fully diluted equity share capital of RCom. In addition, RCom will assume the liability to pay the DoT instalments for SSTL's spectrum, amounting to Rs 390 crore per annum for the next 8 years. The closure of the transaction is expected by the first week of November 2017.
Cochin Shipyard will be watched. The Ministry of Shipping, Government of India had approved formation of joint venture (JV)company between Cochin Shipyard and Hooghly Dock & Port Engineers for upgradation and modernization of shipbuilding infrastructure at the two shipyard sites of Salkia and Nazirgunge in Kolkata. Accordingly, a JV company has been incorporated in the name of Hooghly Cochin Shipyard. Cochin Shipyard and Hooghly Dock & Port Engineers will have 76% and 24% stake in the JV company respectively. The announcement was made after market hours yesterday, 23 October 2017.
Kaya said its board approved investment of Rs 51 crore in KME Holdings, a wholly-owned subsidiary of the company in Singapore, for buyout of minority stake in Kaya Middle East FZC, subsidiary of KMEH situated at UAE. The announcement was made after market hours yesterday, 23 October 2017.
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