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Will it be 1:1 bonus from Elgi Equipments?
The board of directors of Elgi Equipments will meet on Friday to consider financial performance for the period ended June 2020 and bonus issue as well. Expectations form the market participants are that one bonus share for each share, as the company had declared a 1:1 bonus during 2000 (December 14) and 2010 (August 2).
Key Results: Hindalco, Glenmark, NTPC, Indian Bank, Sun TV, Voltas, MRF, New India Assurance
Friday will be another big for the current result season, as about 110 companies set to declare their numbers. Among them, most actively followed by market participants include ADF Foods, Aksh Optifibre, Ahluwalia Contracs, Alkyl Amines, Borosil, Burnpur Cement, Clariant Chem, Dilip Buildcon, Deccan Cements, DPSC, Dollar Industries, Emkay Global, Fortis Healthcare, Finolex Cables, Gammon India, Greenply Ind, Glenmark Pharma, Hindalco, Huhtamaki PPL, IIFL Wealth, Indian Bank, Kaya, MRF, Majesco, Nagarjuna Fertilizers, New India Assurance, Thirumalai Chemicals, Voltamp Transformers, Voltas,VRL Logistics, WS Industries (also delisting from BSE) and Zuari Global.
Ahluwalia Contracts may build on new order
Ahluwalia Contracts (India) Limited has secured new order aggregating to ₹290 crore (approx.) for construction of new building of Pt. Jawaharlal Medical College and Hospital, Chamba (Himachal Pradesh), from NBCC (India) Ltd.
The total order inflow during the FY 2020-21 stands at ₹290 crore, the company said in a notice to the stock exchanges. Shareholders will closely monitor the execution and further information.
Open offer to Wabco shareholders
Open offer to the public shareholders of Wabco India from German company ZF Friedrichshafen AG along with related firms is currently on. The open offer that began on Thursday will end on August 26. On Day 1, the offer received bids for 17 per cent.
The buyers plan to mop up a 25 per cent stake in auto component maker Wabco India, through the acquisition of 47.4 lakh shares from public shareholders.
The open offer was mandatory after the German company acquired US-based Wabco Holdings, and the offer price is ₹7,067.51 a share.
The shares of Wabco India will be acquired by ZF Friedrichshafen, along with Wabco Asia Pvt Ltd, LucasVarity and ZF International UK Ltd. Wabco Holdings Inc and ZF Friedrichshafen AG last month announced that they had received regulatory clearance from Chinese State Administration for the merger.
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