State Bank of India (SBI) and its associate banks will be in focus after SBI after trading hours yesterday, 18 August 2016, announced the merger of 5 associate banks viz. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad and State Bank of Patiala with itself. SBI also announced the merger of unlisted Bharatiya Mahila Bank (BMBL) with itself. As per the swap ratio for the merger, 28 equity shares of SBI will be issued for every 10 shares held in SBBJ. For both SBM and SBT, the swap ratio for merger is 22 shares of SBI for every 10 shares held in SBM and SBT. SBI had announced in May 2016 that it was considering the merger of 5 associate banks and BMBL with itself.
Wipro said that the company has made minority strategic investment to acquire a minority stake of less than 20% in Intsights Cyber Intelligence for $1.5 million. Intsights offers threat intelligence driven security platform. The announcement was made after market hours yesterday, 18 August 2016.
Indiabulls Housing Finance announced before market hours today, 19 August 2016 that the company proposes to issue upto 7,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to upto Rs 700 crore plus greenshoe option, if any, on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 10th Annual General Meeting held on 7 September 2015. The issue will open and close on the same day on 23rd August 2016 NCDs have tenor of 5 years and carry a coupon in the range of 8.55% to 8.80% per annum payable annually and on maturity.
PC Jeweller announced after market hours yesterday, 18 August 2016 that the company is opening its new showroom on Sunday, 21 August 2016, at Najafgarh (Delhi). After this the company will have total 65 showrooms located across 52 cities in India.
UltraTech Cement announced after market hours yesterday, 18 August 2016 a proposal to issue secured redeemable non-convertible debentures amounting Rs 500 crore on private placement basis. NCDs have tenure of 10 years and carry coupon of 7.53% per annum. .
Shipping Corporation of India's net profit dropped 72.56% to Rs 55.91 crore on 21.66% decline in total income to Rs 875.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 18 August 2016.
NHPC announced after market hours yesterday, 18 August 2016, the commencement of commercial operation of a 40 megawatts unit of Teesta Low Dam H.E. Project, Stage IV (TLDP-IV) in West Bengal. The entire power generated from TLDP-IV has been allocated to West Bengal state and the same shall be supplied through West Bengal State Electricity Distribution Company (WBSEDCL), NHPC said.
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