BOARD MEETINGS
Noida Authority raises land allotment prices by 6 per cent in latest board meeting
The Noida Authority has announced a notable six per cent increase in land allotment prices for the fiscal year 2024-25 following its 214th board meeting. Chaired by UP Chief Secretary Manoj Kumar Singh, the meeting saw adjustments impacting rates for group housing, institutional, and industrial sectors. Residential plot prices have also risen by six per cent, except in the A+ category where prices remain unchanged. The board addressed critical issues including stalled project resolutions and adopted policies to revive projects, benefiting home-buyers and developers alike.
Power Grid Corp board approves plan to raise borrowing limit to Rs 15k cr for FY25
The Board of Directors of Power Grid, in their meeting held on 10th July 2024, have accorded the following approvals for borrowing funds of up to Rs 16,000 crore during the financial year (FY) 2025-26 through various sources, including domestic bonds (Secured/ unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free under private placement), a BSE filing said.
Nestle India board declares interim dividend of Rs 2.75. Check record date
Nestle India Interim Dividend: Nestle India declares an interim dividend of Rs 2.75 per share for eligible shareholders. The company's standalone net profit increases by 27% YoY.
Sebi likely to act against ‘silent’ PMS firms
Regulator Sebi expresses concern over unresponsive PMS firms in the market. Compliance issues and potential misuse of licenses highlighted. APMI maintains communication with compliant members. Sebi closely monitoring the PMS sector with a dedicated team. Further developments expected in this industry.
From finfluencer crackdown to F&O stock entry, exit tweaks, top 10 decisions from Sebi board meeting
The Securities and Exchange Board of India (Sebi) has approved finfluencer norms, prohibiting regulated entities like brokers from dealing with them. Under the norms, the Sebi regulated entities and their agents are barred from having any association directly or indirectly with any other person who provides advice or recommendation in respect to securities
IPOs won't be a no-exit entry, say experts after Sebi makes delisting easier
Describing the new rule as a potential game changer that could enhance merger and acquisition (M&A) deal activity, Abhishek Dadoo of Khaitan & Co. pointed out that the old regime allowed delisting through a reverse book build process, which sometimes led to excessively high prices. This often made delisting financially impractical for companies.
SEBI cracks down on finfluencers, streamlines voluntary delisting process
In a significant move, the regulator approved a fixed price process for voluntary delisting, offering companies an alternative to the existing reverse book-building mechanism. Sebi chief Madhabi Puri Buch emphasised that unregulated entities providing market-related advice are acting unlawfully. The regulator also introduced a new delisting framework for investment holding companies, with the fixed price set at a 15% premium over the floor price. Additionally, SEBI granted exemptions to certain UNI funds from the beneficial ownership rule.
YES Bank board to consider fundraising via debt
YES Bank intends to raise funds through the issuance of debt securities, potentially including non-convertible debentures (NCDs), bonds, or Medium Term Notes (MTNs). The bank's board approved this fundraising plan during a meeting on Tuesday, where they also finalized the draft notice for the annual general meeting scheduled for August 23rd. YES Bank's shares have surged 50% over the past year, significantly outperforming the Bank Nifty index, which gained 21% in the same period.
Inox Green Energy Services board to meet on 26 June; to consider fundraise options
Inox Green Energy Services Limited plans to raise funds through preferential allotment and warrant issuance in a board meeting on June 26, aiming to acquire Rs 1000 crore for future ventures.
EIH Associated Hotels shares rally 17% ahead of bonus shares issue plan
EIH Associated Hotels surged 17% to Rs 845 on BSE as it plans to issue bonus shares. The company's strong performance is evident from Trendlyne data. It is part of The Oberoi Group, known for luxury hotels and various services.
SBI board to consider $3-billion fundraise
SBI's board of directors to meet on June 11 to consider raising up to $3 billion through foreign currency bonds issued abroad.
Hold meet with all stakeholders on Delhi water crisis, SC tells Centre
The Supreme Court directed a stakeholder meeting to address Delhi's water crisis amid an extreme heatwave. Various issues, including water wastage and shortage, were discussed, with a meeting scheduled for June 5 and the next hearing on June 6.
IEX, Infosys among 10 stocks in focus today ahead of AGM and stock split
IT giant Infosys declared a dividend of Rs 20/share along with a special dividend of Rs 20 per share. The record date for the same is May 31. The company's board meeting is also scheduled for today
Faced with RBI audit, IIFL Finance delays Board meet for earnings release
IIFL Finance extends announcement of quarterly earnings beyond May 30 due to RBI audit, anticipates releasing results by June 30.
Adani Enterprises board to meet today to discuss fund raise
Adani Enterprises will discuss potential fundraising options during a board meeting scheduled for May 28. The agenda includes deliberations and approvals for proposals related to raising funds, which may involve issuing equity shares or other eligible securities through permissible modes.
Adani Energy Solutions to raise up to Rs 12,500 crore
Adani Energy Solutions Ltd, formerly Adani Transmission Ltd, will raise up to Rs 12,500 crore through qualified institutional placement (QIP) or other permissible mode, the company said in a regulatory filing on Monday.
Adani Enterprises, Adani Energy Solutions to consider fund raising next week
Adani Enterprises and Adani Energy Solutions are planning to raise funds via equity through board meetings next week. Adani Enterprises previously raised Rs 12,500 crore through a QIP in May 2023.
Muthoot Finance declares interim dividend of Rs 24 per share
Muthoot Finance announces an interim dividend of Rs 24 per share for FY23-24, with a record date of June 1. The company assures adherence to RBI guidelines on cash disbursement of loans.
Rationalisation of govt bodies: WCD ministry 'officially' dissolves Food and Nutrition Board
The Women and Child Development (WCD) Ministry has officially dissolved the Food and Nutrition Board (FNB), a technical wing of the ministry responsible for providing technical and logistical support for community nutrition programmes. The FNB had a network of offices and quality control laboratories in Delhi, Faridabad, Mumbai, Kolkata, and Chennai. The decision came after a Cabinet meeting in April last year, following recommendations from the Principal Economic Adviser's report on the rationalisation of government bodies.
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