TOP CORPORATE NEWS-02 MAY 2016


Stock Futures Tips

TVS Motor receives approval for Rs310 crore expansion plan
TVS Motor has received an approval from Karnataka Government for its proposed Rs310 crore expansion plan for its Mysore facility.
The approval comes in line with the company’s plans to expand its production capacities. Positive for TVS Motor Company.

HDFC Q4 profit boosted by sale of Investment
Housing Development Finance Corporation (HDFC) has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:
Standalone
For the Quarter ended March 31, 2016 (Unaudited)
Net Profit rose by 39.98% to Rs2607.05 crore Vs Rs1862.43 crore (YoY).
Total Income increased by 23.72% to Rs9225.72 crore Vs Rs7456.43 crore.

Ujjivan IPO gets oversubscribed 1.22 times
The IPO of Ujjivan Financial Services has been oversubscribed 1.22 times during the morning trade on the last day of the offer today, as per report.
The Rs885-crore public issue received bids for 3, 61, 64,170 shares against the total issue size of 2, 96, 63,706 shares, data available with the NSE till 10:30 hrs showed.
Ujjivan's issue, which is scheduled to close today, comprises fresh issuance of shares worth Rs358.16 crore and an offer for sale of up to 24,968,332 shares by the existing shareholders, as per reports.
Price band for the offer has been fixed at Rs207-210.

Petrol Price hikes by Rs1.06/Ltr, Diesel by Rs2.94/Ltr
Petrol price was today hiked by Rs1.06 per litre and diesel by Rs2.94 a litre.
Petrol in Delhi will cost Rs62.19 per litre from midnight tonight as against Rs61.13 currently, said Indian Oil Corporation (IOC), the nation's largest fuel retailer.
Similarly, a litre of diesel will cost Rs50.95 compared to Rs48.01 at present.

RBI allows up to 60% Foreign Holding in Yes Bank
Reserve Bank of India (RBI) has allowed foreign investors to buy up to 60% stake in Yes Bank. The Bank passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 49% up to 60% of the paid up capital of the bank under the Portfolio Investment Scheme (PIS).

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