HEMANT PARIKH
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STOCK ALERT ( 10 / 06 )

Hemant Parikh at 09:12 AM - Jun 10, 2014 ( ) Views: 713

Idea Cellular to be watched post closure of QIP

 

Idea Cellular before market hours today, 10 June 2014 said that the Securities Allotment Committee of the board of directors of the company at its meeting held on Monday, 9 June 2014, decided to close the issue and approved the issuance of 22.38 crore equity shares of face value of Rs 10 each to qualified institutional buyers (QIBs) at an issue price of Rs 134 per equity share, including a premium of Rs 124 per equity share, aggregating to Rs 3000 crore. The issue price is at a discount of Rs 2.98 per share on floor price of Rs 136.98 per share. The issue had opened on 5 June 2014.

Bharat Heavy Electricals (Bhel) after market hours on Monday, 9 June 2014 said that the Union Minister for Heavy Industries & Public Enterprises, Sh. Anant Geete visted the company at their corporate office at Siri Fort, New Delhi on Monday, 9 June 2014. The Minister was briefed about the performance trends of the company, diversification plans, manufacturing and R&D capability with respect to new initiatives and strategies for growth, among others, Bhel said. The Minister, while appreciating the progress made by the company in different areas, asked Bhel to gear up for the future to face competition from the domestic as well as overseas companies, Bhel said.

Appreciating the inherent strength of Bhel, he said that the company had the resilience to get into business areas that are long gestation in nature and where profits can be begin to materialize over a period of time. Assuring Bhel of complete support and backing of the Ministry of Heavy Industries & Public Enterprises, the Minister said that in view of the slowdown in the power sector, he directed the company to step up its activities in other areas like renewables (including solar), transportation, transmission and defence, in a big way, Bhel said in a statement.

KSK Energy Ventures before market hours today, 10 June 2014 said that in respect of issue of equity shares of face value Rs 10 each, the board of directors of the company, at its meeting held on Monday, 9 June 2014, issued and allotted 4.04 crore equity shares of face value Rs 10 each at a price of Rs. 99 per equity share (including share premium of Rs 89 per equity share) aggregating to Rs 400 crore to qualified institutional buyers (QIBs) under qualified institutions placement (QIP) under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

V-Mart Retail after market hours on Monday, 9 June 2014 said it has opened a new store located at Milinium Diesel Katara Toli, Patna, Bihar. The store is spread in an area of 9,000 sq. ft. This is the 17th store in the Bihar across 15 cities. With this the company has increased the tally of the state to 5 composite stores and 12 fashion stores. This takes the total number of stores to 92 in 79 cities across 12 states with a total area of 7.40 lakh sq. ft, V-Mart Retail said.

Eros International Media (Eros) after market hours on Monday, 9 June 2014 said that it has signed a term sheet to acquire a controlling stake in Universal Power Systems, trading by the name Techzone, a leading mobile value added services (MVAS) provider for telecom operators based in India for an undisclosed sum. The transaction is subject to customary closing conditions and execution of definitive agreements, Eros said in a statement.

Zee Media Corporation's board of directors at its meeting held on Monday, 9 June 2014, approved allotment of 12.23 crore equity shares of Re 1 each of the company to the shareholders of Essel Publishers (EPPL) as at the effective date of 27 May 2014. The said issuance is in pursuance of Clause 5.1 of the Scheme of Amalgamation of EPPL with the company approved by Bombay High Court vide order passed on 2 May 2014.

Maruti Infrastructure said that on Monday, 9 June 2014, the company has allotted 6 lakh equity shares of Rs 10 each at a premium of Rs 5 on conversion of 6 lakh warrants to promoters issued on preferential basis, pursuant to approval of the shareholders of the company accorded on 8 March 2014 in the extra ordinary general meeting.

Binny on Monday, 9 June 2014 said that its board of directors will meet on 12 June 2014, inter-alia to consider the proposal to put up a new wind farm/solar power. The board will also consider the proposal to put up a spinning mill. Also, the board will consider proposal to go for rights issue of shares.

Channel Nine Entertainment's board of directors at its meeting held on Monday, 9 June 2014, approved raising the funds by way of rights issue of equity shares in the ratio of 1 equity share for 2 equity shares held by the existing shareholders of the company.

Shares of Divinus Fabrics are listed on BSE and admitted to dealings on the exchange with effect from 10 June 2014, in the list of 'T' Group Securities.

Shares of Classic Global Finance & Capital are listed on BSE and admitted to dealings on the exchange with effect from 10 June 2014, in the list of 'T' Group Securities.

Oriental Bank of Commerce turns ex-dividend today, 10 June 2014, for final dividend of Rs 3.60 per share for the year ended 31 March 2014.


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