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ready to shoot up
Posted by :
vikiitdi am watching this stock regularly. before buyback started it was not going above 26.1 with 30K vol on BSE. Today it did cross 27 with a volume of around 80K. The market was really weak which must have also weighed down on the stock. But the buyback is huge so the stock is safe. Look at the promoter holding it has gone up steadily from 54% to 59% before the buyback which in itself is a very positive indication. ...
Rs 20 Crore set to enter Bhagyanagar Ind
Posted by : GuestBuyback starts today the stock is already showing signs of positive jump in a weak market. ...
more good news
Posted by : Guest
Surana Telecom and Power Limited, a city-based manufacturer of optical fibre, ethernet converters (modems), power cables and aluminium rods, will dilute 20 per cent of the equity in its solar power subsidiary – Surana Ventures Limited (SVL) – to foreign institutional investors (FIIs). The capital raised will be utilised to fuel SVL`s expansion plans.
Surana Telecom, on October 14, received in-principle approval from its board to demerge the solar business and consolidate it with group company Surana Ventures. At present, Surana Telecom and its publicly-listed group company Bhagyanagar India Limited hold 49 per cent each in Surana Ventures, while the rest is with the promoters...
ready to shoot up
Posted by :
arunscsclosed flat today!!! :( its disappointing. Lets see tomo....
ready to shoot up
Posted by : vikiitdcurrent trading volume is around 30 K per day. Open offer for 10 million shares at max price of 40 to start on thursday. this should easily go above 30 starting tomorrow...
BSE Announcements on Bhagyanagar Ind
Posted by : MMB Messenger
Bhagyanagar India Ltd has informed BSE about the following:
Karvy Investor Services Ltd ("Manager to the Buyback") on behalf of Bhagyanagar India Ltd ("Target Company") has issued this Public Announcement ("Announcement"/ "PA") to the shareholders/ beneficial owners of the equity shares of the Target Company, pursuant to the provisions of Regulations 8(1) read with Regulations 15(c) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, for the time being in force including any statutory modifications & amendments from time to time ("Buy-back Regulations") & contains the disclosures as specified in Schedule II to the Buy-back Regulations.
Mr. Narendra Surana, Vide letter dated May 20, 2009 filed an application seeking exemption under Regulation 4(2) read with Regulation 3(1)(l) of Securities and Exchange Board of India (substantial acquisition of shares & takeovers) Regulations, 1997 ("Takeover Code") on behalf of Mr. G Mangilal Surana, Mr. Devendra Surana, Mr. Manish Surana, Mrs. Namrata Surana, Mrs. Sunita Surana, Mrs. Chand Surana, Ms. Nivriti Surana, Ms. Vinita Surana, Mr. Rahul Surana, Mrs. Sresha Surana, Ms. Mitali Surana, Mr. Advait Surana, G M Surana (HUF), GM Surana MHUF, Narendra Surana HUF, Devendra Surana HUF, Surana Infocom Pvt Ltd, Surana Telecom & Power Ltd ("Promoter Group) who collectively own 59.75% of the equity shares of the Target Company. The exemption has been granted by SEBI vide its order dated September 30, 2009. ("Exemption Order").
Offer for Buyback of Equity Shares from Open Market through Stock Exchanges.
The Target Company hereby announces its intention to buy-back its fully paid-up equity shares of the face value of Rs. 2/- each ("Equity Shares") from the existing registered shareholders / beneficial owners of the Equity Shares of Target Company ("Buy-back") through the open market using the nationwide electronic trading terminals of the Bombay Stock Exchange Limited (BSE) & The National Stock Exchange Ltd (NSE) ("Stock Exchanges") after pursuant to Article 2A of the Articles of Association of the Company and in accordance with Sections 77A, 77AA and 77B of the Companies Act, 1956 (the Act) and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998 (the Buy-Back Regulations) at a price not exceeding Rs. 40/- per equity share ("Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs. 20.00 Crores ("Buyback/ Offer Size") i.e. within 25% of the existing paid-up equity share capital and free reserves of the Company as on March 31, 2008 (the date of the latest audited standalone accounts as on the date of Board meeting approving the buy-back i.e. April 09, 2009) subject to a maximum of 1,00,00,000 equity shares of Rs. 2/- each.
The number of Shares to be bought back would depend upon the average price paid for the Shares bought back and the amount deployed in the Buyback, but however total number of shares to be bought back shall not exceed 1,00,00,000 Equity Shares.
Subject to buyback price being less than or equal to Rs. 40/- per share, the Company shall buyback a minimum of 50,00,000 Equity Shares. The maximum offer price of Rs. 40/- per share has been arrived after considering the stock market quotations, book value, return on net-worth and the possible impact of the buy-back on the earnings per share of the Company. The Buy-back of Equity shares will be made at a Maximum Offer Price of Rs 40/- per share which represents a premium of 67.01% & 67.71% to the closing price on BSE & NSE i.e. Rs 23.95 & Rs 23.85 respectively, on trading day on the date of the Board Meeting i.e. April 09, 2009. The Maximum Offer Price of Rs 40/- per share offers a premium approximately 104.08% to the closing price on BSE i.e. Rs 19.60 & NSE i.e. Rs 19.60, on the date of passing the special resolution by approval of shareholders through postal ballot i.e. May 19, 2009.
The maximum buyback price of Rs 40/- per share offers a premium of approximately 96.56% over the closing price on April 08, 2009 at BSE & NSE, the day prior to the date of the Board meeting for approving the buyback offer.
Proposed Time Table:
Board Meeting approving Buyback - April 09, 2009
Approval of shareholders through postal ballot - May 19, 2009
Date of opening of the Buyback - October 22, 2009
Acceptance of Shares - Within 7 days of the relevant payout dates of the respective Stock Exchanges.
Extinguishment of Shares - Within 15 days of acceptance as above
Last Date for the Buyback - May 18, 2010 or when the company completes buyback to the extent of 1,00,00,000 equity shares under the offer or upon exhaustion of Rs. 20.00 crores set aside for buy back whichever is earlier. The Board reserves the right to close the Buyback offer at an earlier date subject however to, purchase of Minimum offer
shares under the Buyback offer by giving appropriate notice and reasons for such
early closure and completing all formalities.
Note: Last date for the buyback given also includes completion of payment obligations in respect of buyback....
NSE Announcements on Bhagyanagar Ind
Posted by : MMB MessengerKarvy Investor Services Limited has informed the Exchange regarding a Public Announcement ("Announcement" or "PA") made pursuant to the provisions of Regulation 8(1) read with Regulation 15(c) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, for the time being in force including any statutory modifications and amendments from time to time ("Buy-back Regulations") and contains the disclosures as specified in Schedule II to the Buy-back Regulations. The Buyback Offer and Price: Bhagyanagar India Limited ("BIL" or "the Company") hereby announces its intention to buy-back its fully paid-up equity shares of the face value of Rs.2/- each ("Equity Shares") from the existing registered shareholders / beneficial owners of the Equity Shares of BIL ("Buy-back) through the open market using the nationwide electronic trading terminals of the Bombay Stock Exchange Limited (BSE) and The National Stock Exchange of India Limited (NSE) (herein after referred to as "Stock Exchanges") after pursuant to Article 2A of the Articles of Association of the Company and in accordance with Sections 77A, 77AA and 77B of the Companies Act, 1956 (the Act) and the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 (the Buy-Back Regulations) at a price not exceeding Rs.40/- per equity share ("Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs.20.00 Crores ("Buyback/Offer Size") i.e. within 25% of the existing paid-up equity share capital and free reserves of the Company as on March 31, 2008 (the date of latest audited standalone accounts as on the date of Board meeting approving the Buy-back i.e. April 09, 2009) subject to a maximum of 1,00,00,000 equity shares of Rs.2/- each. The Date of opening of the Buyback is October 22, 2009 and the Last Date for the Buyback is May 18, 2010 or when the company completes buyback to the extent of 1,00,00,000 equity shares under the offer or upon exhaustion of Rs.20.00 crores set aside for buy back whichever is earlier. The Board reserves the right to close the Buyback offer at an earlier date subject however to, purchase of minimum offer shares under the Buyback offer by giving appropriate notice and reasons for such early closure and completing all formalities. A copy of the Public Announcement - Buyback of Shares shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements)....
NSE Announcements on Bhagyanagar Ind
Posted by : MMB Messenger
Bhagyanagar India Limited has submitted the Exchange the result of the postal ballot along with Scrutinizers Report of the postal ballot. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
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the stock is ex dividend 40paisa dividend paied by the company on the face value, excellent returns....
ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by : money_makerHas SEBI approved the buy back?...
ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by :
vinoo123
rocket stock comes down usually faster then they go up guess gravity assist in fall faster :)
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ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by : murudCan anyone share the reason for such a big fall in one day. India bulls - pls share your view. I think you do a very good study before recommending any stock....
ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by : Guest
Really Very Bad call........... Any chance to going up.......................
SS...
ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by : rahul10816very bad call. i bought this share @29 rs but now every day it is goin down...
ROCKET STOCK.... BHAGYANAGAR INDIA Ltd. At 24/-; TARGET 45/- & 55/-
Posted by : murud
Dear India Bulls, I purchased 450 shares at 28 after reading your message. But when it started falling I serched the BSE website & surana dot com, I found that the letter given to BSE says that the buyback will be done at a rate not more than Rs. 40 and NOT at Rs. 40.... I am still holding these shares but do not know whether it will reach 35 or will fall again to 21-22.
I think the managemnt would have purchased the shares @ 20-21 & they may sell them after raising its prices.
your comments please.
The Letter : -
OUTCOME OF BOARD MEETING HELD ON 09.04.2009
This is to inform you that the Board of Directors of the Company at their Meeting held on 09.04.2009, has approved:
Buy Back of the Company’s fully paid-up equity shares of Rs.2/- each, from open market through Stock Exchange mechanism, subject to the approval of the members through postal ballot and from SEBI under the SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 1997 , for an amount not exceeding Rs.20,00,00,000/- (Rupees Twenty Crores only) to a minimum of 50,00,000 shares and a maximum of 1,00,00,000 shares, up to a maximum price of Rs. 40/- per equity share, in accordance with the provisions contained in the Articles of Association, 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956.
The above decision of the board has been taken to enhance overall shareholder value by returning surplus funds to shareholders in an investor-friendly manner and to enhance the earnings per share of the Company in future, and create a long-term shareholder value
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