Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Cochin Shipyard Ltd board approves buy back at Rs. 455

Posted On: 2018-10-16 16:47:24

The Board of Directors of Cochin Shipyard Ltd at its meeting held on October 16, 2018 concluded at 16.00 hrs. has approved the buyback proposal for purchase by the Company of its own fully paid equity shares of Rs.10/- each ("Equity Shares") not exceeding 43,95,610 (Fourty Three Lakh Ninety Five Thousand Six Hundred and Ten) equity shares (representing 3.23% of the total outstanding number of equity shares in the paid-up share capital of the Company) at a price of Rs. 455/- (Rupees Four Hundred and Fifty Five only) per equity share ("Buyback Offer Price") payable in cash for an aggregate consideration not exceeding Rs. 200,00,02,550 /- (Rupees Two Hundred Crore Two Thousand Five Hundred and Fifty only) ("Buyback Offer Size") being 6.41% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone financial statements of the Company for the financial year ended March 31, 2018 (hereinafter referred to as the "Buyback") from the shareholders of the Company, as on the record date, i.e. October 31, 2018 ("Record Date"), on a proportionate basis through the tender offer route in accordance and consonance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018 ("Buyback Regulations") (including any statutory modification(s) or re-enactment of the Act or Buyback Regulations, for the time being in force) and the Companies Act, 2013 ( "Act"). The Buyback Offer Size does not include any expenses incurred or to be incurred for the Buyback such as filing fees payable to SEBI, advisors fees, transaction costs viz. brokerage, applicable taxes such as securities transaction tax, Goods and Services Tax, stamp duty, etc., public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses. The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations.

The board also approved the formation of a Buyback Committee ("Buyback Committee") and delegated its powers to the Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the Buyback.

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.400 as compared to the previous close of Rs. 402.2. The total number of shares traded during the day was 16305 in over 902 trades.

The stock hit an intraday high of Rs. 409 and intraday low of 394.3. The net turnover during the day was Rs. 6535270.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

HUDCO selects Intellect as their partner to provide an Integrated Digital Solution for lending and ERP

MRO-TEK Realty Ltd bags order of Rs. 17.53 crores

RCom requests urgent approval from lenders to release Rs. 260 crore received from IT refunds

The Phosphate Company Ltd Q3 FY19 net profit drops to Rs. 0.90 crore

Anup Malleable Ltd reports net profit of Rs. 0.12 crore in Q3

Technofab Engineering Ltd updates on Q3FY19 results

Tech Mahindra Ltd board approves buy back through tender offer route

Shriram Transport Finance Company approves fund raising of $400 mn

BPCL to raise Rs. 2000 crore

Dr. Reddy's Laboratories announces re-launch of its Buprenorphine and Naloxone Sublingual Film

Grasim to acquire the Chlor-Alkali Business of K.P.R. Industries India Limited for Rs. 253 crore

SCI gives physical delivery of m.v. Tamilnadu

Moody's affirms Yes Bank's ratings, changes outlook to stable from negative

Dynamatic Technologies Limited signs MoU with Joint-Stock Company

Diligent Media Corporation Ltd to suspend Jaipur edition of DNA

Innovative Ideals & Services India Ltd bags new order

TCS the only Top 10 IT services Firm Recognized as a Global Top Employer

ABB CEO meets Maharashtra Chief Minister

EDF Luminus selects HCL to drive digital transformation through cloud migration

McDonald's launches its first restaurant in the holy city of Tirupati

MBL Infra substantially completes proiect

Cyient - BlueBird Joint Venture Launches its New Unmanned Aerial System

NHPC signs MoU with NLC India Ltd

H G Infra Engineering Ltd declared L1 bidder by NHAI for new EPC project

NCLT rejects petition against Omkar Speciality Chemicals Ltd

Radio City Collaborates with Noida Metro Rail Corporation

CRDB Bank leverages Nucleus Software's advanced technology to accelerate growth and improve collections

Varun Beverages Ltd announces Q4 CY2018 results

Strides receives USFDA approval for Ethosuximide Softgel Capsules

Alembic Pharmaceuticals announces USFDA Approval for Acetazolamide ExtendedRelease Capsules, 500 mg

Aarti Industries to supply High Value Specialty Chemical Intermediate for 10 years worth $125 million

Glenmark Pharmaceuticals to Present New Analysis of Pooled Data on Ryaltris™

BHEL appoints Shri Rajesh Sharma as independent director

Linde India Ltd Board recommends Dividend of Rs. 1.50 for 2018

Reliance Capital asks partner to bid for its 42.88% stake in Reliance Nippon Life Asset Management Ltd

American Public Life Insurance Company Selects Majesco L&A and Group Core Suite

Flagging off of the first batch of tuna long liner cum gillnet fishing vessels from Cochin Shipyard

Vedanta Ltd denies submitting revised bids for Essar Steel

Huhtamaki PPL Ltd posts net profit of Rs. 17.96 crores in Q4

Linde India Ltd reports PAT of Rs. 15.41 crores in Q4

Tulive Developers Limited board to consider buyback proposal on Feb 22, 2019

GreenPro Certification awarded to Ramco Cements' flagship product - RAMCO SUPERGRADE

Duke Offshore Ltd bags contract from Daewoo - Tata Projects JV

Vyapar Industries Ltd board to consider buyback on Feb 22, 2019

Wipro Positioned as a Leading Player in 'Zinnov Zones for Digital Services in Retail - 2018'

Essel Propack receives Inter Corporate Deposit of Rs. 40 crores

Bajaj Finance announces winners of 'EON'

Gartner Cites Newgen Software as a Niche Player in the 2019 Magic Quadrant for Intelligent BPM Suites

Premier Ltd enters into 10 year lease agreement with Global Icon Projects LLP

ABB wins INR 270 crore order for train technologies from Indian Railways







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019