Shares of Shankara Building Products will debut on the bourses today, 5 April 2017. The initial public offer (IPO) of Shankara Building Products received bids for 22.17 crore shares compared to 52.94 lakh shares on offer. The IPO was subscribed 41.88 times. The IPO opened on 22 March 2017 and closed on 24 March 2017. The issue price was fixed at top end of the price band of Rs 440 to Rs 460 per share.
The qualified institutional buyers (QIBs) category was subscribed 51.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 90.68 times. The retail individual investors (RIIs) category was subscribed 15.35 times.
Shankara Building Products is one of the leading organized retailers of home improvement and building products in India, operating under the trade name, Shankara BuildPro, since the past two decades.
Dr Reddy's Laboratories will be watched. With reference to a news item captioned, "US FDA started Srikakulam inspection on March 27, 2017. No major observation from US FDA yet on Srikakulam plant," the company clarified that the reports being flashed by some media are speculative and unverified.
The company has not issued any statement as the audit is still in progress. The company said it regularly informs all concerned on material events and presently does not have any other information which is material to the company's operations or consolidated results. The clarification was issued after market hours on Monday, 3 April 2017.
NTPC said that Unit 2 of 250 megawatts (MW) of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) has been commissioned on 3 April 2017. Further, NTPC has also commissioned its first wind turbine of 2 MW at Rojmal Wind Power Project (50 MW). With this, the commissioned capacity of NTPC and NTPC group has become 43534 MW and 50750 MW respectively. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.
The Committee of Directors of IL&FS Transportation Networks had approved on 31 March 2017, the allotment of 7,500 Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs 10,00,000 aggregating to Rs 750 crore on a private placement basis. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.
TVS Motor Company said its total sales rose 10% to 2.56 lakh units in March 2017 over March 2016. Total two-wheeler sales increased by 10.7% to 2.50 units in March 2017 over March 2016. Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016. The announcement was made after market hours yesterday, 3 April 2017.
Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017. Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.
NMDC kept its iron ore prices unchanged in April 2017 compared with March 2016. NMDC said its lump ore prices were constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fines were constant at Rs 2185 per WMT in April 2017. The announcement was made after market hours yesterday, 3 April 2017.
MEP Infrastructure Developers said it entered into memorandum of understanding (MoU) with CIDB Holdings SDN BHD, a fully-owned subsidiary of the Construction Industry Development Board (CIDB Malaysia), to strengthen, promote and develop their cooperation by knowledge sharing and introducing best practices towards joint development of sustainable highway and expressways projects in India and related investments. The activities mentioned above may be carried out in India or any other country as may be mutually agreed upon. The announcement was made after market hours yesterday, 3 April 2017.
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