BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share


Equity tips:-





  • The board of directors of Bharat Electronics Ltd (BEL), in their meeting held on January 30, 2018, approved the proposal to buy-back the equity shares of the company. The buy-back would be of ~2.04cr equity shares (representing 0.83% of total equity shares) at a price of Rs182.50 per share (~7% premium to the last closing price) payable in cash.  
  • The buy-back size amounts to Rs372.26cr, representing 5% of the aggregate of the fully paid-up equity share capital and free reserves of the company.   
  • The promoter of the company also intends to participate in the proposed buyback. The buyback is subject to approval from the shareholders and all other applicable statutes. The board has fixed February 9, 2018 as the record date for the buy-back.  
  • The board of directors also declared an interim dividend of Rs1.6 per equity share for the FY18.  
  • The stock closed at a price of Rs177.25, up by 0.91% or Rs1.6, on January 30, 2018.

We provide free profit calls for EQUITY,Forex & COMMODITY tips.If you want more information regarding the Stock cash tips, Nifty tips, Commodity tips, Equity tips,forex tips missed call @ 8966834895 
Location: India

Comments

Post a Comment

Popular posts from this blog

Asian markets trade higher; Shanghai Composite up 1.5%

Image
Equity tips:- Equities in Japan and China outperformed, with modest gains seen in Hong Kong. Asian stock markets were trading higher on Friday despite a lacklustre session for US shares amid concerns over a delayed Sino-American trade deal. Treasuries steadied and the dollar held gains. Equities in Japan and China outperformed, with modest gains seen in Hong Kong. Earlier, the S&P 500 spent most of the session fluctuating between gains and losses in thin trading, before edging lower at the close. News that a meeting to end the trade war with China won’t happen this month had weighed on sentiment. The pound was little changed as Prime Minister Theresa May won the endorsement of British politicians to seek to delay Brexit day. The yen was steady as the Bank of Japan cut its economic outlook while maintaining its policy stance. The Bank o...
Read more

Axis Bank slumps over 6% post quarterly earning

Image
Equity tips:- Shares of Axis Bank have slumped by over 6% in opening trades after announcing quarterly earning post market hours on Tuesday.  The stock opened at Rs 488 hit an intraday high of Rs 489 and an intraday low of Rs 482. Total traded volumes were approx 0.35mn shares. The quarterly results missed street estimates as NII for the quarter was 4.5% below street estimates of Rs.4741 crore. Also, net profit for the quarter was almost 66% down from street estimates of Rs.1298 crore. NII for the quarter remained flat at Rs.4539 crore vs Rs.4513 crore in previous year corresponding quarter. This was largely due to muted interest income growth to Rs.11235 crore vs Rs.11159 crore in Q2FY18. Asset quality of the bank deteriorated further as GNPA’s for the quarter rose by almost 67% yoy to Rs 27402 crore. As a percentage to total advances, GNPA’s for the quarter rose by 173 bps to 5.9% vs 4.17% in Q2FY17. While Net NPA’s also increased by 110 bps to 3.12% vs 2...
Read more

Asian stocks trade mixed; Nikkei 225 up ~1%

Image
Equity tips:- The S&P 500 Index climbed to a four-month high as it held above the key 2,800 level. Asian stock markets were trading mixed on Thursday as investors awaited a slew of economic data from China. The pound gave back some of Wednesday’s surge as traders positioned for the next steps in the Brexit saga. Shares edged higher in Hong Kong and Japan, were little changed in South Korea and fluctuated in China ahead of data including industrial production and retail sales. The S&P 500 Index climbed to a four-month high as it held above the key 2,800 level. Helping buoy sentiment was data showing US orders for business equipment increased in January by the most in six months and a producer price index signaled modest pressure on inflation. Treasury yields steadied and the yen weakened. The US data signaled a positive start to the...
Read more