Anant Raj jumps 20% demerger nod
Anant Raj has announced that the Board of Directors of the Company at its meeting held on July 19, 2016, has considered and approved the composite scheme of arrangement:
1. Demerger of Real Estate Division (Demerged Undertaking 1) of Anant Raj Agencies Pvt Ltd (ARAPL/ Demerged Company 1/Amalgamating Company) into Tauras Promoters & Developers Pvt Ltd (TPDPL/ Resulting Company 1) and subsequent amalgamation of Remaining ARAPL with the Company.
2. Demerger of Project Division (Demerged Undertaking 2) of the Company into Anant Raj Global Ltd (ARGL/ Resulting Company 2) (a WOS of the Company, under incorporation) and subsequent listing of ARGL at BSE Ltd (BSE) and National Stock Exchange of India Ltd (NSE).
The above provisions of the Scheme shall be effected in accordance with the provisions of Section 391 -394 of the Companies Act, 1956 or the corresponding provisions of the Companies Act, 2013.
SBI announces JV with Brookfield to form Stressed Assets Funds
State Bank of India: SBI announces JV with Brookfield to form Stressed Assets Funds – Positive for SBI
The SASF will look to recover/revive stressed project loans which will help clean up bank’s balance sheets.
Brookfield will commit Rs7000 crore and SBI to have 5% in the SASF.
DHFL Q1 net profit up 16% (YoY)
Dewan Housing Finance Corporation Ltd (DHFL) has announced the following Q1 Unaudited Standalone results for the quarter ended June 30, 2016:
Net Profit rose by 16.22% to Rs201.40 crore Vs Rs173.28 crore (YoY).
Total Income increased by 18.51% to Rs1959.32 crore Vs Rs1653.18 crore (YoY).
Reliance Jio to partner with several phone makers apart from LYF
Reliance Jio to partner with several phone makers apart from LYF to lift user base, also raising Rs15, 000 crore – positive read thru
We believe wide choice of handsets will be key for RIL to acquire customer from incumbent service providers.
Incase RIL can manage to partner with few phone makers whose handsets are largely accepted in India, it will give a immediate large customer base for RIL Jio.
SKF India Q1 net profit up 30% (YoY)
SKF India Ltd has announced the Unaudited Standalone results for the quarter ended June 30, 2016
Net Profit gained by 29.75% to Rs60.40 crore Vs Rs46.55 crore (YoY).
Total Income increased by 7.37% to Rs725.00 crore Vs Rs675.19 crore (YoY).
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