Eros International trades jubilantly on continuing partnership with NGE for Housefull 3

Eros International trades jubilantly on continuing partnership with NGE for Housefull 3

Sep 18,2014   01:03 Hrs IST

Eros International Media is currently trading at Rs. 269.20, up by 14.20 points or 5.57% from its previous closing of Rs. 255.00 on the BSE. The scrip opened at Rs. 255.15 and has touched a high and low of Rs. 273.15 and Rs. 253.40 respectively. So far 71854 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 282.00 on 03-Sep-2014 and a 52 week low of Rs. 131.25 on 23-Sep-2013. Last one week high and low of the scrip stood at Rs. 273.15 and Rs. 234.80 respectively. The current market cap of the company is Rs. 2493.01 crore. The promoters holding in the company stood at 74.76% while Institutions and Non-Institutions held 17.38% and 7.85% respectively. Eros International Media (Eros), a leading global company in the Indian film entertainment industry has continued its partnership with Sajid Nadiadwala to release the third instalment of the hugely successful comedy franchise Housefull. Following the unprecedented success of the first two in the series, Eros once again teams up with Nadiadwala Grandson Entertainment (NGE) for the much awaited Housefull 3, directed by writer-turned-director duo Sajid-Farhad. The film is slated for a 2015 release. Eros International Media is a part of the Eros Group., which has an extensive film library and is in the business of sourcing Indian and other film content and exploiting it worldwide through its offices in India, UK, USA, UAE, Singapore, Australia, the Isle of Man and Fiji across formats such as theatres, home entertainment, television and digital new media.

Bajaj Auto trades higher on the bourses

Bajaj Auto trades higher on the bourses

Sep 18,2014   12:51 Hrs IST

Bajaj Auto is currently trading at Rs. 2345.00, up by 29.85 points or 1.29% from its previous closing of Rs. 2315.15 on the BSE. The scrip opened at Rs. 2315.50 and has touched a high and low of Rs. 2350.70 and Rs. 2306.70 respectively. So far 8336 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2380.00 on 08-Sep-2014 and a 52 week low of Rs. 1796.00 on 04-Feb-2014. Last one week high and low of the scrip stood at Rs. 2372.00 and Rs. 2295.00 respectively. The current market cap of the company is Rs. 67596.14 crore. The promoters holding in the company stood at 50.02% while Institutions and Non-Institutions held 25.67% and 24.29% respectively. Pune-based automaker Bajaj Auto has announced a contribution of Rs 20 crore for the Prime Minister's National Relief Fund. The company has contributed this amount to provide relief efforts in the flood ravaged areas of Jammu & Kashmir (J&K). Jammu and Kashmir has seen unforeseen disaster and damage to property and infrastructure worth crores of rupees. The company would like to join the Government’s effort to help in relief operations in flood-ravaged Jammu & Kashmir and provide all support to the affected countrymen in the State. Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.

Reserve Bank eases FDI norms to issue shares to NRIs

Reserve Bank eases FDI norms to issue shares to NRIs

Sep 18,2014   10:02 Hrs IST

Giving a reason to cheer to the India Inc. Reserve Bank of India (RBI) has allowed companies to issue equity shares to a resident outside India against any type of fund, subject to certain conditions like entry route, sectoral cap, pricing guidelines and compliance with the applicable tax laws. RBI reviewed the existing guidelines in consultation with the Government of India and, accordingly, decided to permit issue of equity shares against any other funds payable by the investee company, remittance of which does not require prior permission of the Government of India or Reserve Bank of India under FEMA, 1999 or any rules/ regulations framed or directions issued thereunder As per the latest RBI guidelines the equity shares shall be issued in accordance with the existing FDI guidelines on sectoral caps, pricing guidelines and the issue of equity shares under this provision shall be subject to tax laws as applicable to the funds payable and the conversion to equity should be net of applicable taxes. Earlier, an Indian company under the automatic route could issue shares/convertible debentures to a person resident outside India against lump-sum technical know-how fee, royalty External Commercial Borrowings (other than import dues deemed as ECB or Trade Credit) and import payables of capital goods by units in Special Economic Zones. Through government route, FDI in activities not covered under the automatic route requires prior approval of the Government which are considered by the Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, Ministry of Finance. Indian companies having foreign investment approval through FIPB route do not require any further clearance from RBI for receiving inward remittance and issue of shares to the foreign investors.