Microfinance firm Ujjivan Financial Services debuts on the secondary equity market today, 10 May 2016. The company had priced the initial public offer (IPO) at the top end of the Rs 207 to Rs 210 per share price band for the IPO. The IPO closed on 2 May 2016. It was subscribed 40.68 times and it received bids for a total of 120.68 crore shares.
Tata Steel will be in focus. The board of Tata Steel Europe announced that seven expressions of interest submitted for Tata Steel's UK business have been immediately taken forward to the next stage of the sale process. In addition, Tata Steel Europe is clarifying outstanding points with a number of other parties who have submitted an expression of interest. The remaining parties who submitted expressions of interest have been thanked for their participation in the process but informed that their expressions would not be taken forward currently. As previously announced it is Tata Steel Europe's primary intention to assess expressions of interest for the whole of Tata Steel's UK business. The seven expressions of interest being immediately taken forward are on this basis. Expressions of interest for parts of the UK business are not being taken forward at this point. In the next phase of the sales process the progressing interested parties will be given access to further business information and management team presentations in order for them to rapidly progress their interest to a binding stage. The announcement was made after trading hours yesterday, 9 May 2016.
Tata Steel Europe said on 20 April 2016 that it welcomes credible expressions of interest for Tata Steel UK's operations. The company issued the clarification after recent media reports suggesting a possible management buyout of Tata Steels' Port Talbot manufacturing facilities in UK. Port Talbot is Tata Steel's biggest UK plant with about 4,000 workers, according to reports. On 11 April 2016, Tata Steel Europe announced that the company has commenced the formal process for the divestment of its entire holding in its British subsidiary Tata Steel UK. Tata Steel Europe has decided to sell its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary.
City Union Bank announced that the Reserve Bank of India (RBI) vide its letter dated 6 May 2016, gave its approval for the appointment of S. Mahalingam as the part-time Chairman of the bank for a period of three years with effect from 4 May 2016. The announcement was made after market hours yesterday, 9 May 2016.
Shakti Pumps (India)'s board of directors at a meeting held yesterday, 9 May 2016, approved the conversion of 15 lakh compulsory convertible preference shares of Rs 100 each held by AFHoldings into 16.36 lakh ordinary equity shares of Rs 10 each, constituting 8.9% of the paid-up share capital of the company on fully diluted basis and ranking pari passu with the existing equity shares of the company. The announcement was made after market hours yesterday, 9 May 2016.
VA Tech Wabag announced that it has liquidated its step-down subsidiary Beijing VA Tech Wabag Water Treatment Technology Co. Ltd. The announcement was made after market hours yesterday, 9 May 2016.
Datamatics Global Services (DGSL) announced that a consortium of the company and Mikroelektronika have won a contract to provide automatic fare collection (AFC) system for the North-South corridor (Phase IA) of the Lucknow Metro Rail project. The contract has been awarded to the consortium at about Rs 64 crore, DGSL said. The announcement was made after market hours yesterday, 9 May 2016.
Zee Entertainment Enterprises is scheduled to announce its Q4 March 2016 results today, 10 May 2016.
Shares of GM Breweries turn ex-dividend today, 10 May 2016, for final dividend of Rs 2.50 per share for the year ended 31 March 2016.
Shares of Godrej Consumer Products turn ex-dividend today, 10 May 2016, for interim dividend of Rs 2.75 per share for the year ended 31 March 2016.
Net profit of ALSTOM India declined 61.91% to Rs 27.40 crore on 54.17% decline in net sales to Rs 369.53 crore in Q4 March 2016 over Q4 March 2015. The company reported net loss of Rs 78.77 crore in the year ended March 2016 as against net profit of Rs 177.07 crore in the year ended March 2015. Net sales declined 18.78% to Rs 1717.75 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 9 May 2016.
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