NTPC will be watched. The government will sell 5% stake in NTPC at a floor price of Rs 168 per share through a two-day offer-for-sale (OFS) beginning today, 29 August 2017, with an option to issue a similar number of shares in case of over subscription. The sale of 41.23 crore shares, or 5% equity, would fetch about Rs 7000 crore to the exchequer. The two-day OFS would open for institutional investors today, 29 August 2017, and retail investors would get to bid tomorrow, 30 August 2017. The offer shall take place during trading hours on a separate window of the stock exchanges on T day ie 29 August 2017 commencing at 09:15 IST and shall close on the same date at 15:30 IST. The announcement was made after market hours yesterday, 28 August 2017.
ACC, Bank of Baroda, Tata Power Company and Tata Motors DVR will be excluded from the NSE Nifty 50 index, according to a media statement issued on the National Stock Exchange after market hours yesterday, 28 August 2017. At the same time, Bajaj Finance, Hindustan Petroleum Corporation (HPCL) and UPL will become part of the index. Changes will be effective from 29 September 2017.
IT major Infosys said that some of the promoters would participate in the upcoming share buyback of the company. The IT firm had announced a Rs 13000-crore share buyback on 19 August 2017, a day after CEO and MD Vishal Sikka resigned from the company. The company would buy back up to 11.30 crore shares aggregating up to 4.92% of the paid-up equity capital via tender route at a price of Rs 1,150. The announcement was made after market hours yesterday, 28 August 2017.
Bharti Airtel announced after market hours yesterday, 28 August 2017, that the proposed acquisition of Tikona Digital Networks has now been completed. With this, Tikona Digital Networks has become a wholly owned subsidiary of Bharti Airtel. The transaction for the trading of the spectrum in Rajasthan circle is still pending for approval from the department of telecom (DoT).
Religare Enterprises said it has raised Rs 30 crore through issue of non-convertible debentures (NCDs) on private placement basis to one of its wholly owned subsidiaries. The debentures offer a yield of 11%. The announcement was made after market hours yesterday, 28 August 2017.
Cupid turns ex-dividend today, 29 August 2017, for final dividend of Rs 2 per share for the year ended 31 March 2017.
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OnMobile Global turns ex-dividend today, 29 August 2017, for dividend of Rs 1.50 per share for the year ended 31 March 2017.
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