UNION BUDGET 2020 S(LAYING) THE ECONOMIC FOUNDATION (PART I)

UNION BUDGET 2020 S(LAYING) THE ECONOMIC FOUNDATION

Disconnect    |     Deficit     |     Debt    |    Disinvestment   |     Dividend   |    Dispute

deduce ~ reach a conclusion by thinking about the information or evidence that is available

deconstruct ~ reduce something to it’s basic elements in order to interpret it in a different way

Here’s the flow of how we have deconstructed and deduced the Union Budget 2020 for you with a focus on the ‘D’s as above offering you a perspective on each supported by government statistics on record .This a Three Part Scrip Standpoint , each of which is being send separately to reinforce the content

 

PART I    ~ DISCONNECT ~Declining Economic Growth vs Rising Record Sensex

PART II ~ DEFICIT AND DEBT ~ Dancing with Deficit and are Sovereign Bonds the Solution? PART III ~ DISINVESTMENT ~ (Dis)Comfort with Complacency of a High LIC Valuation

DIVIDEND DISTRIBUTION TAX ~ Reverting to taxing the Recipient

DISPUTE ~ Vivad se Vishwas Scheme ~ One Time Offer for resolving Direct Tax Disputes

 

MACROECONOMIC BACKDROP | SPEECH  | BUDGET AT A GLANCE

Is the Union Budget a Non Event ?

The Sensex may react on the Budget Day as graphically shown below ,but going forward shrugs off this event sentiment and moves on, making the Budget more a Non Event

On Saturday, February 1,2020 we heard the longest ever Union Budget Speech by a Finance Minister when Mrs Nirmala Sitharaman addressed the Parliament from 11 am to pm and feeling exhausted wound up taking the last two pages as read .In her Interim Budget Speech on July 5,2019 there was mention of India becoming a US $ 5 Trillion Economy by 2024/25 and that in the ongoing year itself the GDP would be US $ 3 Trillion.Her Speech on February 1,2020 had no mention of this again .On Saturday, February 1,2020 we heard the longest ever Union Budget Speech by a Finance Minister when Mrs Nirmala Sitharaman addressed the Parliament from 11 am to

The Reason has to be the stark decline in the GDP Growth Rate in the past few quarters and it is concerning that the nominal rate (Real + Inflation) for this ongoing year is just 7.5% from the 12% assumed in the first Budget Estimates last year.

The FM had a tough job balancing the Budget against a Backdrop of declining GDP growth, rising Unemployment and declining Tax Revenues .There is an imperative need to stimulate both the Drivers of our Economy, Investment in Infrastructure and Consumption. Pre Budget, the Government had addressed the first Driver to stimulate Growth by

  • Sacrificing Annual Corporate Tax Revenues to an extent of Rs 1,45,000 crs by slashing the Corporate Tax Rate ~ more on this in PART II
  • Announcing the National Infrastructure Pipeline of Rs 103 lakh Crs or US $ 1.4 Trillion over five years

The First was a Promise made in 2014 ,but in our View ,given the worrying state of our Economy, it could have been deferred for at least another two years. The Second ,may look ambitious ,but is a much needed thrust though raising concerns of funding as the outlay of US $ 1.4 Trillion equals our current Total Government Debt .The Government focus is on raising Sovereign Debt which in turn, in our view raises even more concern which we have highlighted in PART II

Macroeconomic Backdrop

Declining Economic Growth  |   Growing Unemployment   |     Rising Sensex

 

Date of Budget

(Pre Budget Date Figures)

 

Unit

 

10/7/14

 

28/2/15

 

29/2/16

 

1/2/17

 

1/2/18

Interim 1 1/2/19 Interim 2 5/7/19  

1/2/20

Financial Year 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2019/20 2019/20
GDP Rs Crs 12488000 13567192 15075429 16784679 18840731 21100607 21007439 20442233
GDP Growth Rate % 7.2 8.6 11.1 11.3 13.3 12 10.5 7.5
Unemployment Rate % 4.9 5 8.7 4.7 5.5 6.9 7.5 7.3
Fiscal Deficit/ GDP % 4.1 3.9 3.5 3.5 3.4 3.3 3.4 3.8
Sensex Level 25445 29220 23154 28743 34184 35867 39908 40723
Sensex Growth yoy % 34.9 14.8 -20.8 24.1 18.9 4.9 11.3 13.5
Repo Rate % 8 7.75 6.75 6.25 6 6.5 5.75 5.15
Exchange Rate Rs/$ 59.9 61.8 68.6 67.6 63.6 71.1 68.7 71.5
Inflation Rate % 5.9 4.9 4.5 3.6 3.4 3.4 3 4.1/7.3
Forex Reserves $ Bn 316 334 350 362 418 398 428 467
Oil Price $/barrel 102.3 49.8 33.8 52.8 64.7 53.8 56.8 51.6
Gold Rs/10g 28490 26477 29495 28823 30451 33305 34592 41230

Source : RBI,BSE,NSE,CMIE,Budget Documents,Jeena Scriptech Research

 

The Current Unemployment Rate is 7.3% .The graph below reveals a concern of a much higher Unemployment Rate (UER) in the Youth despite higher labour participation (LPR)

Union Budget 2020 at a Glance

Budget Estimate of GDP for 2020-2021 has been projected at Rs 2,24,89,420 crs assuming

a 10 % growth over the revised estimated GDP of Rs 2,04,42,233 crs for 2019-2020

 

PART I

DISCONNECT ~ Declining Economic Growth vs Rising Record Sensex

Here’s the clear Disconnect between the declining economic growth, Corporate Earnings/GDP and the rising Sensex

 

 

 

Date of Budget

 

 

Unit

 

 

10/7/2014

 

 

28/2/15

 

 

29/2/16

 

 

1/2/2017

 

 

1/2/2018

Interim 1

1/2/2019

Interim 2

5/7/2019

 

 

1/2/2020

Financial Year 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2019/20 2019/20
GDP Growth Rate % 7.2 8.6 11.1 11.3 13.3 12 10.5 7.5
Sensex Before Budget 25445 29220 23154 28743 34184 35867 39908 40723
Sensex Growth yoy % 34.9 14.8 -20.8 24.1 18.9 4.9 11.3 13.5

Jeena Scriptech Research

 

Why this Disconnect ?

Think of Equity as a Table with four Legs being Valuation, Liquidity, Momentum and Sentiment

Despite an alarming decline in the GDP Growth Rates and the Corporate Earnings/GDP Rate as above, the Sensex has risen significantly.

Stock Markets Legs of Momentum and Sentiment have been driven up by the Leg of High Liquidity Inflows from Foreign Portfolio Investment (FPI/FII) and Domestic Mutual Funds (MF) as Statistics below demonstrate.

 

The High Mutual Fund Inflows into Indian Equity in the years 2017 to 2019 can be attributed as an outcome of Demonetisation in November 2016

 

FPI Investments – Financial Year
 

Financial Year

In Rs Crs
Debt-VRR Hybrid Total
Equity Debt
2014-15 111333 0 0 277461
166127
2015-16 -14172 -4004 0 0 -18176
2016-17 55703 -7292 0 0 48411
2017-18 25635 119036 0 11 144682
2018-19 -88 -42357 0 3515 -38930
2019-20 65234 7995 2677 5301 78530
Total 951735 379912 2677 8827 1340471

 

FPI Net Investments in 2019 and 2020 up to February 6,2020
 

Calendar Year

In Rs Crs
Equity Debt Debt-VRR Hybrid Total
2019 101122 25882 8995 135995
2020 11051 -13222 2677 -46 460

Source : NSDL

US $ 14 Billion have been pumped by FPIs into Indian Equity in 2019 and in just over a month in 2020 the FPI Inflow has crossed US $ 1.5 Billion

When have we had before, in a Financial Year in this Millenium ,where on a declining GDP Growth Rate,the Sensex has significantly risen ?

 

 

Year

GDP

growth

%

Change in GDP

%

 

Change in Sensex

%

 

FPI Equity Inflows US $ Billion

1999-2000 8.8
2000-2001 3.8 -5.0 -23.8 1.4
2001-2002 4.8 1 -18.3 1.1
2003-2003 3.8 -1.02 3.5 0.4
2003-2004 7.9 4.1 72.6 5.6
2004-2005 7.9 12.4 6.1
2005-2006 7.9 41.8 6.8
2006-2007 8.1 0.2 46.3 3.5
2007-2008 7.7 -0.4 46.7 7.4
2008-2009 3.1 -4.6 -52.5 -6.6
2009-2010 7.9 4.8 79.7 15.3
2010-2011 7.5 -0.4 17.4 15.3
2011-2012 5.2 -2.3 -25.1 6.1
2012-2013 5.5 0.3 25.1 19.5
2013-2014 6.4 0.9 8.5 11.1
2014-2015 7.4 1 29.6 15.5
2015-2016 8 0.6 -5 -2
2016-2017 8.2 0.2 2 7.7
2017-2018 7.2 -1 27.5 3.6
2018-2019 6.8 -0.4 5.9 negligible
2019-2020 4.8 -2 14.08 7.3

Jeena Scriptech Research

 

The Table highlights a clear disconnect in the past three financial years from 2017-18

In our view, at 4.8% GDP Real Growth in FY 20, we are at a low base and perhaps may see a marginal decline for the next two or three quarters before we once again rebound and resume a sustainable upward momentum in the coming years

Our GDP will surely reach US $ Five Trillion, albeit not by the targeted FY 25 , and with  a prayer that the Rupee remains stable .Any significant weakening of the Rupee will take this target even further away

One thing to keep in mind is that rising Inflation restricts RBI’s ability to further reduce the repo rate in an endeavour to stimulate the economy

 

Disclosure & Disclaimer

 

 

This Report is under our free access SCRIP STANDPOINT Module.It is for the personal information of the recipient/reader.We we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction. It is our Viewpoint for general information purposes only.It does not take into account the particular investment objectives, financial situations, or needs of individuals & other entities .We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither JSAAPL, nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Opinions expressed are our current opinions as of the date appearing on this material only.No part of this material may be duplicated in any form and/or redistributed without JSAAPL’s prior written consent.

In case you require any clarification or have any concern, kindly write to us at : [email protected]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Daily Bulletin (12th February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200212-54

 

1.Scrip code : 507944
Name : Bajaj Steel Industries Ltd.
Subject : Board approves Split / Sub-division of Equity Shares
Bajaj Steel Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 12, 2020, inter alia, has recommended the Split/Sub-division of shares of the Company from face Value of Rs. 10 (Rupees Ten) each to Face Value of Rs. 5 (Rupees Five) each, subject to the approval of members of the Company.

2.Scrip code : 500820
Name : Asian Paints Ltd.
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
We refer to our letter dated 22nd January, 2020, wherein the Company had informed the Stock Exchange(s) that the Board of Directors at their meeting held on 22nd January, 2020, had inter alia, approved the Scheme of amalgamation of Reno Chemicals Pharmaceuticals & Cosmetics Private Limited, wholly owned subsidiary of the Company (‘Transferor Company’) with the Company, subject to necessary statutory and regulatory approvals, including approval of the National Company Law Tribunal, Mumbai. Accordingly, we enclose the below mentioned documents for the purpose of disclosure: Certified True Copy of Scheme of amalgamation of Transferor Company with the Company. Certified True Copy of the Resolution passed by the Board of Directors of Asian Paints Limited at their meeting held on 22nd January, 2020, approving the aforesaid Scheme. This is for your information and record.

3.Scrip code : 526951
Name : Stylam Industries Limited
Subject : Intimation Under Regulation 30 Of Securities Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulation 2015 Regarding Approval Of Scheme Of Amalgamation Of Golden Chem-Tech Limited (The Transferor Company) With Stylam Industries Limited (The Transferee Company) And Their Respective Shareholders, Under Sections 230 To 232 Of The Companies Act, 2013 (‘The Scheme’), Vide Its Order Dated February 11, 2020 By The Hon’Ble National Company Law Tribunal Bench At Chandigarh
We are pleased to inform you that Hon’ble Chandigarh Bench of the National Company Law Tribunal has conveyed its approval for the Scheme of Amalgamation of Golden Chem-Tech Limited (The Transferor Company) with Stylam Industries Limited (The Transferee Company) and their respective shareholders, under sections 230 to 232 of the Companies Act, 2013, vide its Order dated February 11, 2020.

4.Scrip code : 526582
Name : TPL Plastech Limited
Subject : Outcome Of Board Meeting Held On February 11, 2020
Pursuant to Regulation 30 and 33 of SEBI (LODR) Reg., 2015, we wish to inform you that the Board of Directors of TPL Plastech Limited at its meeting held on February 11, 2020, inter-alia, reviewed, considered and approved: 1. The Un-audited Financial Results (Standalone & Consolidated) for the Quarter and 9 months ended Dec. 31, 2019 and Limited Review Report thereon Annexure-A 2. Scheme of Amalgamation between Ecotech Green Lifecycle Ltd (‘Transferor Company’- wholly owned subsidiary) and TPL Plastech Ltd (‘Transferee Company’ Holding Company) as Annexure-B. 3.The Board has not approved the proposal for sub-division of equity shares of the Company therefore alteration in Memorandum of Association of the Company is not required.

5.Scrip code : 540975
Name : Aster DM Healthcare Limited
Subject : Regulatory Approval On The Ownership Structure In Emirate Of Dubai.
With reference to the captioned subject, we wish to inform that the Company received approval of the UAE Government to hold 100% legal ownership in the subsidiaries in Emirate of Dubai, which contributes majority of the GCC business. Earlier, as per UAE law requirements, nationals of the UAE were required to, directly or indirectly, be the legal/registered owners of at least 51% of the share capital of UAE companies and the foreign investors could not acquire more than 49% legal ownership. The Government of UAE has now granted approval of 100% ownership to foreign companies in approved sectors. Subsequently, the Government of UAE released the list of sectors which could hold 100% foreign ownership, in which Healthcare sector was also included. It is further clarified that this activity shall not result in any major cash outflow towards investment since the Company is already holding majority beneficial ownership in those subsidiaries. Kindly take the above said information on record

6.Scrip code : 524804
Name : Aurobindo Pharma Ltd.
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
We refer to our earlier letter dated November 28, 2019 informing about entering into a definitive agreement to acquire certain business assets from Profectus BioSciences Inc., USA., a clinical-stage vaccine development company by Auro Vaccines LLC, 100% subsidiary of Aurobindo Pharma USA Inc., USA, which in turn is 100% subsidiary of the Company. In this regard, we would like to inform you that the aforesaid acquisition has been completed on February 11, 2020.

7.Scrip code : 524370
Name : Bodal Chemicals Ltd
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Bodal Chemicals Limited has informed the Exchange about Acquisition of Shares of Trion Chemicals Ltd and make Trion Chemicals Ltd wholly Owned Subsidiary of Bodal Chemicals Ltd

8.Scrip code : 500114
Name : Titan Company Limited
Subject : Clarification sought from Titan Company Ltd
The Exchange has sought clarification from Titan Company Ltd with respect to news article appearing on www.moneycontrol.com February 11, 2020 titled “Titan acquires HUG Innovations, launches smart watch”. The reply is awaited.

9.Scrip code : 542830
Name : Indian Railway Catering and Tourism Corporation Limited
Subject : Corporate Action-Board approves Dividend
Pursuant to Regulation 30 and 42 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, this is hereby informed that the Board of Directors of the company at the Meeting held today i.e. Wednesday, February 12, 2020 have declared an interim dividend at the rate of Rs.10/- per share , which is 100% of paid up share capital. Further, the Board of Directors have also fixed Tuesday, February 25, 2020 as the record date for the purpose of payment of dividend. Interim Dividend shall be paid/ dispatched from 2nd March 2020 onwards.

Daily Bulletin (10th February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200210-46

1.Scrip code : 539216
Name : Junction Fabrics and Apparels Limited
Subject : Corporate Action-Board to consider Bonus Issue
The board of Directors meeting is scheduled on 17th February, 2020 to consider and approve Capitalization of profits by issue of Bonus shares.

2.Scrip code : 517354
Name : Havells India Limited
Subject : Scheme Of Amalgamation Between The Company And Its Domestic Wholly-Owned Subsidiaries
Havells India Limited has informed the Exchange about the Scheme of Amalgamation (‘Scheme’) pursuant to Sections 230 to 232 of the Companies Act, 2013 between the Company viz. Havells India Limited (‘Transferee Company’) and its wholly owned subsidiaries namely, Havells Global Limited, Standard Electrical Limited, Lloyd Consumer Private Limited and Promptec Renewable Energy Solutions Private Limited, (jointly referred to as ‘Transferor Companies’). The aforesaid Scheme has become effective from 7th February, 2020 upon filing of the certified true copy of the Order dtd 31 January 2020 of the Hon’ble National Company Law Tribunal (NCLT) by all the Transferor companies and the Transferee Company.

3.Scrip code : 500087
Name : Cipla Ltd.
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press release dated 7th February, 2020, regarding acquisition of 4 key brands from Wanbury Limited.

4.Scrip code : 523704
Name : Mastek Limited
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Intimation of (a) approval of the Scheme of Arrangement under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with the rules framed thereunder; and (b) acquisition of business along with its identified subsidiaries by Trans American Information Systems Private Limited – Wholly Owned Subsidiary (WOS) of the Company.

5.Scrip code : 523704
Name : Mastek Limited
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Intimation about Proposed Acquisition by Mastek (UK) Limited – Wholly Owned Subsidiary of Mastek Limited through its Wholly Owned Subsidiary Mastek Arabia FZ LLC (Under Incorporation) of the identified UAE Business of Evolutionary Systems Arabia FZ LLC (Wholly Owned Subsidiary of Evolutionary Systems Private Limited (Evosys Group).

6.Scrip code : 532754
Name : GMR Infrastructure Limited
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
Media Release Titled- “GMR Airports Limited achieves Concession Commencement Date to design, build and operate new airport at Crete, Greece”

Indiabulls Real Estate

Indiabulls Real Estate to merge with certain Embassy Properties:

 

On 31st January 2020, the board of Indiabulls Real Estate  in-principally approved the proposal of the merger of certain ongoing, completed and planned residential and commercial projects of Embassy Property Developments Private Limited with IBREL. 

 

Embassy is in discussions with financial investors such as The Blackstone Group Inc. and others to raise up to $200 million before the Merger. This equity investment of USD 200 million will bring significant cash in the merged entity i.e. IBREL + Embassy.

 

Under the proposed Merger, certain ongoing, completed and planned residential and commercial projects of Embassy will get merged and stand transferred to IBREL. Some of Embassy assets are presently owned by entities managed and controlled by it jointly with Blackstone, for which it is in discussions with Blackstone to contribute such assets as part of the merger transaction. 

 

Under the proposed Merger, IBREL will issue its equity shares of face value of INR 2 each to the shareholders of Embassy, in accordance with the swap ratio as would be approved by the Board of both the Companies, resulting into the following shareholders segment in the Merged IBREL, post effectiveness of the proposed Merger: 

(i) IBREL’s existing shareholders 

(ii) Embassy shareholders’ i.e. Embassy promoters, Blackstone / financial investor(s) etc. 

 

The proposed Merger is aimed to be achieved through a cashless scheme of amalgamation.


Current Financial Position of Indiabulls Real Estate:

 

CMP (07/02/2020): Rs 92.5

Face Vale: Rs 2

Market Cap: Rs 4205 Crores 

52 Week High /Low: Rs 151/38

Promoter’s Holding: 23.38%

 

Embassy Property Developments Pvt. Ltd. holds 13.89% of the Company 

 

INDIABULLS REAL ESTATE

Year Equity Capital Net Worth Long Term Debt Short Term Debt Total Sales PAT BV EPS P/E P/BV
Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs. Rs
H1 20 90.93 3546 1478 2820 1971 181 78.0 4.0 23.2 1.2
FY 19 90.13 3998 3405 1015 5222 504 88.7 11.2

 

Post Merger Equity Position:

 

Proposed Investment Amount: $ 200 million or Approximately over Rs 1400 crores. By issuing fresh capital the intent is to transfer the management of the company to Embassy allowing Sameer Gehlaut to reduce his stake and allow him to conduct business in the financial services space.

 

Daily Bulletin (7th February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200207-48

1.Scrip code : 506414
Name : FERMENTA BIOTECH LIMITED
Subject : Fermenta Biotech Limited (Formerly Known As DIL Limited) – Publication Of Notice Of Revised Record Date – February 14, 2020
Pursuant to Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our intimation given vide our letter dated February 05, 2020 (sent through BSE website) regarding ‘Revised Record Date’ for proposed issue of 1,96,20,658 Bonus Equity Shares of Rs. 5 each of the Company, we are enclosing herewith photocopy of the newspaper publication published in Business Standard, Mumbai (English version) on page no. 5 and Sakal, Mumbai (Marathi version) on page no. 6 dated February 07, 2020 your reference and record.

2.Scrip code : 532937
Name : Kuantum Papers Limited
Subject : Corporate Action-Intimation of Sub division / Stock Split
Further to our notice dated 29.01.2020, pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015, it was informed to the exchanges that the next meeting of Audit Committee and Board of Directors of the Company will be held on Wednesday, the 12th February, 2020 at Chandigarh, inter alia, to review and approve the Unaudited Financial Results for the quarter and nine months period ended 31st December, 2019, it is also intimated that the board would also consider the proposal of sub-division of equity shares of the Company subject to the approval of the Shareholders in the Extra Ordinary General Meeting the date of which would be decided by the board in the said meeting.

3.Scrip code : 532454
Name : Bharti Airtel Ltd.
Subject : Update On Scheme Of Arrangement(S) W.R.T. Demerger Of Consumer Mobile Businesses Of Tata Teleservices (Maharashtra) Limited (‘TTML’) And Tata Teleservices Limited (‘TTSL’) Into Bharti Airtel Limited (‘Airtel’) And Bharti Hexacom Limited
In furtherance to our previous intimations dated July 01, 2019, we wish to inform you that the Department of Telecommunications vide its letters dated February 06, 2020 has conveyed to the company that the schemes of arrangement w.r.t. demerger of consumer mobile business of Tata Teleservices (Maharashtra) Limited and Tata Teleservices Limited have been taken on record. Kindly take the same on record.

4.Scrip code : 532659
Name : IDFC LIMITED
Subject : Merger IDFC Alternatives Limited, IDFC Trustee Company Limited And IDFC Projects Limited (Wholly Owned Subsidiary Companies) Into IDFC Limited (Holding Company)
This is to inform you that the Board of Directors (‘the Board’) of IDFC Limited (‘the Company’) at its meeting held on February 06, 2020, as part of simplification of corporate structure, have considered and approved the merger IDFC Alternatives Limited, IDFC Trustee Company Limited and IDFC Projects Limited (wholly owned subsidiary companies) into IDFC Limited (Holding Company) subject to regulatory approvals from various authorities, as applicable. In this connection, please find enclosed herewith disclosure under regulation 30 in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as Annexure 1. Request you to take the aforesaid on record.

5.Scrip code : 532523
Name : Biocon Ltd.
Subject : Amalgamation Of Biocon Research Limited (“BRL”) With Biocon Biologics India Limited (“BBIL”).
Pursuant to the Regulation 30 of SEBI Listing Regulation, we. wish to inform you that the Bengaluru Bench of National Company Law Tribunal (“NCLT”) has sanctioned the Scheme of Amalgamation of Biocon Research Limited (“Transferor Company”) with Biocon Biologics tndia Limited (“Transferee Company”) and their respective Shareholders. The Transferor and Transferee Company both are sub-sidiaries of Biocon Limited. The Certified Copy of this Order sanctioning the Scheme has been filed with the Registrar of Companies (“ROC”), Bengaluru, Karnataka on February 7, 2020.

6.Scrip code : 500477
Name : Ashok Leyland Ltd.
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the Company along with other investors has entered into a Supplemental Share Purchase Agreement with Everfin Holdings, shareholder of Hinduja Leyland Finance Limited (‘HLFL’), for agreeing to acquire collectively, 3,28,14,401 shares of Rs.10/- each (constituting 7% in the paid-up share capital of HLFL) at an agreed price of Rs.119/- per share. The agreement to acquire the equity shares of HLFL has been spread over a period of 9 months in various tranches. As and when the Company acquires any tranche(s) and if the said acquisition exceeds 2% or more of the equity shares of HLFL, the Company will inform the stock exchanges. The details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 are given as an annexure. We request you to kindly take the above information on record.

7.Scrip code : 542399
Name : Chalet Hotels Limited
Subject: Announcement under Regulation 30 (LODR)-Updates on Acquisition
With reference to above and further to our letters dated 17.01.20 and 03.02.20(enclosed) and in compliance with Reg 30 of Listing Regulations, and pursuant to the Share Purchase Agreement (the “SPA”) as referred to in our above referred communication dated 17.01.20 we hereby inform that (a) the existing shareholders of Seapearl Hotels Pvt Ltd (“SHPL”) have transferred 100% of the equity shares & 100% of zero coupon fully and compulsorily convertible debentures in SHPL to the Company, and (b)the Company has paid the complete cash consideration (with adjustments as agreed in the SPA) of Rs.574.68 Mn, for the acquisition of 100% equity shares & 100% of zero coupon fully and compulsorily convertible debentures of SHPL. Consequent to above, SHPL has become a wholly owned subsidiary of the Company. The details as reqd under LODR read with SEBI Circular No CIR/CFD/CMD/4/2015 dated 09.09.2015 with respect Acquisition of SHPL have already been submitted vide our above referred letter.

8.Scrip code : 541336
Name : IndoStar Capital Finance Limited
Subject : Announcement under Regulation 30 (LODR)-Open Offer – Updates
Please find attached herewith Detailed Public Statement dated 06 February 2020 for open offer by BCP V Multiple Holdings Pte. Ltd. (‘Acquirer’), together with Brookfield Business Partners L.P. in its capacity as a person acting in concert with the Acquirer, for acquisition of up to 3,71,95,411 equity shares from the Public Shareholders of the Company, received by the Company from Nomura Financial Advisory and Securities (India) Private Limited, Manager to the Open Offer. Request you to kindly take the above on record and disseminate the same on your website.

9.Scrip code : 532531
Name : STRIDES PHARMA SCIENCE LIMITED
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
Strides to acquire 18 ANDAs from Pharmaceutics International, Inc.

10.Scrip code : 541701
Name : Supershakti Metaliks Limited
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Dear Sir/Madam, The Board in its meeting held today has discussed the issue of further expansion in Greenfield or brown field project in line with existing manufacturing activities and discussed the status of application made for environment clearance ,After deliberations the Board observed that as Environment clearance will take some more time the company may go for strategic investment in this regard and after discussion it was decided to give in principal approval for acquiring stake in a promoter backed company Giridhan Metal Private Limited subject to further due diligence. Any further material development in this regard shall be communicated to the exchange accordingly. The meeting commenced at 3 P.M and concluded at 3.30 P.M Kindly take the above information on records.

11.Scrip code : 503169
Name : Ruby Mills Ltd.
Subject : Board Meeting Intimation for Intimation Of Board Meeting To Consider And Approve Un-Audited Financial Results And Limited Review Report Thereon For The Quarter Ended December 31, 2019.
RUBY MILLS LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/02/2020 ,inter alia, to consider and approve In compliance with Regulation 29 of the Securities Exchange and Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Meeting of Board of Directors of the Company is scheduled to be held on February 13, 2020 (Thursday), inter alia, to consider and approve Un-Audited Financial Results of the Company for the quarter ended December 31, 2019. We further inform you that, the trading window for dealing in securities of the Company is already being closed and the intimation of the same is given to BSE and NSE by the Company and shall remain closed till 48 hours after the declaration of Un-audited Financial Results with Limited Review Report thereon for the quarter ended December 31, 2019 in compliance with SEBI (Prohibition of Insider trading) Regulations 2015.

12.Scrip code : 500770
Name : Tata Chemicals Ltd
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
This is in furtherance to our letter dated January 10, 2020, wherein we had intimated that the Scheme has been approved by the Hon’ble National Company Law Tribunal (‘NCLT’), Mumbai Bench, vide its Order dated January 10, 2020 and NCLT, Kolkata Bench, vide its Order dated, January 8, 2020. We wish to inform that the Company and TGBL have both filed the Certified Copy of the respective NCLT Orders sanctioning the Scheme with the respective jurisdictional Registrar of Companies today i.e. on February 7, 2020 (Effective Date). The Appointed Date of the Scheme is April 1, 2019.

13.Scrip code : 532540
Name : Tata Consultancy Services Ltd.
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
Coop Sweden Partners with TCS to Accelerate its Digital Transformation Program

14.Scrip code : 532555
Name : NTPC Limited
Subject : Outcome Of Board Meeting Held On 07.02.2020
In continuation of our letter of even no. dated 28.01.2020 and 07.02.2020, this is to inform you that the Board, in its Meeting held on 07.02.2020, has not considered the payment of interim dividend on the equity share capital of the Company for the year 2019-20. Further, record date earlier intimated as Monday, February 17, 2020 may be treated as cancelled.

Daily Bulletin (5th February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200205-48

1.Scrip code : 506414
Name : FERMENTA BIOTECH LIMITED
Subject : Intimation About The ‘Revised Record Date’ For Proposed Issue Of 1,96,20,658 Bonus Equity Shares Of Rs. 5 Each Of The Company
With reference and further to our intimation dated December 30, 2019 filed with BSE Limited regarding ‘intimation of Record Date dated February 07, 2020 for issue of Bonus Equity Shares as mentioned in the Postal Ballot Notice dispatched on December 30, 2019’, we wish to inform that due to some technical difficulties in meeting the requisite regulatory compliance in relation to the proposed Bonus Issue of 1,96,20,658 Equity Shares of Rs. 5 each, the ‘Record Date’ for the purpose of determining eligible shareholders who will be entitled to receive the Bonus Equity Shares of the Company has been revised from Friday, February 07, 2020 to ‘Revised Record Date’ i.e. Friday, February 14, 2020. Kindly take the above information on your record and oblige.

2.Scrip code : 514286
Name : Ashima Ltd
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Disclosure under Regulation 30(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is with reference to our intimation dated 19th October, 2019, informing about the decisions of the Board of the Company approving the Scheme of Amalgamation and Arrangement of Ashima Dyecot Private Limited (‘ADPL’ or ‘Transferor Company’) with Ashima Limited (‘Company’ or ‘Transferee Company’) and their respective shareholders and creditors (“Scheme”). In this regard, we would like to inform you that the NCLT vide its Order dated 30th January, 2020 (“Order”) has directed the Company to convene the Meeting of its Equity Shareholders, Preference Shareholders, Secured Creditors and Unsecured Creditors to consider and approve the said Scheme on Wednesday, the 11th day of March, 2020.

3.Scrip code : 533271
Name : Ashoka Buildcon Limited
Subject : Acquisition Of Stake In Mudhol Nipani SPV
Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 and in continuation to the Company’s letter dated May 30, 2016, Ashoka Buildcon Limited (‘the Company’) is pleased to inform that the Company has further acquired 16016100 equity shares of Ashoka GVR Mudhol Nipani Roads Limited (‘SPV’) held by GVR Infra Projects Limited. The Company now holds 55229400 (99.99%) equity shares of Rs.10/- each fully paid in the SPV. The Company had already paid in earlier years aggregate consideration of Rs.35,69,00,000/- (Rupees Thirty Five Crore Sixty Nine Lakh only). Please also note that prior to acquisition the Company was holding 71% of the paid-up share capital of SPV. The information as required pursuant to SEBI Notification dated September 09, 2015 is given in Annexure enclosed with this letter. Please take the same on your records.

4.Scrip code : 540704
Name : Matrimony.com Limited
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
Pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, copy of the media release titled, ” Matrimony to acquire a 26.1% stake in clickastro.com promoter Astro-Vision Futuretech” is enclosed for your information and records

Daily Bulletin (4th February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200204-51

1.Scrip code : 507944
Name : Bajaj Steel Industries Ltd.
Subject : Board to consider Sub-division of Equity Shares Bajaj Steel Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 12, 2020, inter alia, to consider the following; 1. To consider and approve the Unaudited Standalone and Consolidated Financial Results for the Third Quarter & Nine Months ended as on December 31, 2019; 2. To consider and recommend Sub-division/Split of the Equity Share(s) of the Company.

2.Scrip code : 532994
Name : Archidply Industries Limited
Subject : Fixation Of Record Date On Account Of Scheme Of Arrangement
Between Archidply Industries Limited (AIL) (Demerged Company) And Archidply Decor Limited (ADL) (The Resulting Company). Sanctioned By Hon’Ble National Company Law Tribunal, Allahabad Bench, Allahabad The Board of Directors of the Company have proposed to fix the record date of Friday the 14th February, 2020 for the purpose of reckoning names of the Equity shareholders of Archidply Industries Limited, the Demerged Company (AIL), who shall be entitled to receive shares of Archidply Décor Limited, the Resulting Company (ADL) in the ratio of one (1) new Equity share of the Resulting Company(ADL) of the face value of Rs.10/- each fully paid up for every four (4) Equity Shares of the face value of Rs. 10 /- each fully paid up held by him / her / it in the Demerged Company (AIL), pursuant to the Order dated 8th January, 2020 of the Hon’ble National Company Law Tribunal, Allahabad Bench, Allahabad sanctioning the Scheme of Arrangement for Demerger.

3.Scrip code : 512329
Name : Kintech Renewables Limited
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Dear Sir / Madam, With reference to our earlier intimation letter dated 28th May, 2019, 11th June, 2019 and 25th December, 2019 regarding proposed amalgamation of Divine Windfarm Private Limited, a Wholly-owned subsidiary of the company with Kintech Renewables Limited , we wish to inform you that the National Company Law Tribunal Bench at Ahmedabad has pronounced order dated 30/01/2020 approving the Scheme of Arrangement in nature of Amalgamation of Divine Windfarm Private Limited ( a wholly-owned subsidiary) with Kintech Renewables Limited (Holding Company). The said order is enclosed herewith for your reference and records. Further, the company is in process of applying the certified true copy of the order with the National Company Law Tribunal Bench at Ahmedabad. Kindly take the note on your records. Thanking you,

4.Scrip code : 532955
Name : REC LIMITED
Subject : Intimation Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015.
This is to inform that in line with in-principle approval accorded by the Ministry of Power vide letter dated 11th November, 2019, the Board of Directors of REC in its Meeting held on 4th February, 2020 inter-alia approved the Scheme of Amalgamation of both wholly owned subsidiaries of the Company viz. REC Transmission Projects Company Limited (‘Transferor Company’) and REC Power Distribution Company Limited (‘Transferee Company’), subject to requisite approvals/sanctions of the shareholders/creditors of the transferor & transferee companies, Central Government and such other authority(ies), as may be required.

5.Scrip code : 500295
Name : Vedanta Limited
Subject : Intimation Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements Regulations, 2015 (”Listing Regulations”)
Vedanta Limited had pursuant to the Resolution Plan approved by Hon’ble National Company Law Tribunal, Kolkata Bench dated April 17, 2018 acquired Electrosteel Steels Limited (ESL), through its wholly-owned subsidiary, Vedanta Star Limited (VSL), with effect from June 4, 2018. We wish to inform that the Hon’ble National Company Law Tribunal, Kolkata Bench vide its Order dated January 31, 2020 has approved the Scheme of Amalgamation of VSL with ESL. Post the amalgamation becoming effective, Vedanta Limited will directly hold 95.48% in ESL. The acquisition of ESL fits into Vedanta’s strategy of forward integration; complementing the existing iron ore set-up as well as mines in Jharkhand. The business has seen a complete turnaround since its takeover with the combination of right people, higher volumes and better cost control leading to a visible positive change. This positions ESL to become a significant player in the Indian Steel Sector. Request you to kindly take the same on record.

6.Scrip code : 542399
Name : Chalet Hotels Limited
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
With ref to Reg 30 and further to our ltr dt 17.01.20 (enclosed) and in compliance with Reg 30,and pursuant to Share Purchase Agreement(SPA) as referred to in our above communication dt 17.01.20, we inform that: (a) the existing shareholders of Belaire Hotels Pvt Ltd(BHPL) have transferred 100% of equity shares and 100% of zero coupon fully compulsorily convertible debentures in BHPL to the Company (b) the Company has paid complete cash consideration (with adjustments as on completion date in terms of the SPA)of Rs.1193.32 Mn, for the acquisition of 100% equity shares and 100% of zero coupon fully compulsorily convertible debentures of BHPL & (c) the Company shall also be acquiring of 100% of the equity shares of Seapearl Hotels Pvt Ltd(SHPL)& 100% of zero coupon fully compulsorily convertible debentures for a complete cash consideration(with adjustments as on completion date in terms of SPA) of Rs.574.68 Mn Consequent to above BHPL has become a wholly owned subsidiary of the Company.

7.Scrip code : 506395
Name : Coromandel International Limited
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
Vide our letter dated January 31, 2020, we had informed you about the approval of the Board of Directors of the Company for the acquisition of 50,00,000 equity shares of Rs. 10/- each constituting 50% of the total share capital of Coromandel SQM (India) Private Limited, a joint venture between the Company and Soquimich European Holdings BV. In this connection, the disclosure required under Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed. We request you to acknowledge and take it on your record.

8.Scrip code : 539658
Name : TeamLease Services Limited
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
Intimation on acquisition of additional 21.24 % stake in I.M.S.I. Staffing Private Limited by TeamLease Services Limited on February 03, 2020

9.Scrip code : 500510
Name : Larsen & Toubro Limited
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
L&T Construction awarded (Large*) contract for Freight Facilities Package of Etihad Rail network Stage-2 in UAE

10.Scrip code : 956840
Name : Reliance Industries Ltd
Subject : Announcement under Regulation 30 (LODR)-Press Release / Media Release
We attach a copy of the media release titled, ‘NEW PRODUCTION FROM KG D6 PROJECT ON TRACK TO START BY MID-2020 ENHANCING THE UTILISATION OF EXISTING INFRASTRUCTURE’.

Daily Bulletin (3rd February, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200203-33

1.Scrip code : 541444
Name : Palm Jewels Limited
Subject : Board Meeting Intimation for Intimation To Convene Board Meeting
Palm Jewels Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/02/2020 ,inter alia, to consider and approve This is to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Monday, February 10, 2020 at 05.00 P.M at Registered Office of the company to inter-alia, to consider and transact the following business: 1. To consider increase in Authorised share capital of company and alteration of clause V of memorandum of association of company pursuant to increase in authorised share capital. 2. To consider the issue of Bonus Share.

2.Scrip code : 539524
Name : Dr. Lal Pathlabs Limited
Subject : Announcement under Regulation 30 (LODR)-Scheme of Arrangement
In compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations), we wish to inform you that the Board of Directors in their meeting held today, i.e. February 3, 2020, approved the Scheme of Amalgamation between APL Institute of Clinical Laboratory & Research Private Limited (‘the Transferor Company’), a wholly owned subsidiary of the Company and Dr. Lal PathLabs Limited (‘the Company/the Transferee Company’) with effect from April 1, 2020 (‘Appointed Date’), pursuant to Sections 230-232 of the Companies Act, 2013.

3.Scrip code : 532859
Name : Hinduja Global Solutions Limited
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
HGS International Mauritius, (a wholly owned subsidiary of Hinduja Global Solutions Limited) which, holds 95.2% equity interest in ‘HGS Colibrium Inc., USA’ has acquired an additional equity interest of 4.8% in ‘HGS Colibrium Inc., USA’. Consequently, the shareholding of the HGS International, Mauritius in HGS Colibrium Inc., has increased to 100%. As required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015, dated September 9, 2015, we submit the details of the proposed acquisition in the enclosed SEBI’s Prescribed format.

Daily Bulletin (31st January, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200131-69

1. Scrip code : 532555
Name : NTPC Limited
Subject : Declaration Of Commercial Operation Of Unit-1 (660 MW) Of Khargone Super Thermal Power Station (2 X 660 MW)
In line with the Corporate Disclosure requirements, we wish to inform that Unit-1 of 660 MW of Khargone Super Thermal Power Station (2 x 660 MW) is hereby declared on commercial operation w.e.f 00:00 Hrs of 01.02.2020. With this, the commercial capacity NTPC and NTPC group will become 48645 MW and 57106 MW respectively.

2. Scrip code : 506642
Name : Sadhana Nitrochem Ltd
Subject : Board approves Sub-division of Equity Shares Sadhana
Nitro Chem Ltd has informed BSE that the Board of Directors of the Company at its meetings held on January 31, 2020, inter alia, has transacted the following businesses: – Subject to approval of members and other approvals if any, each of equity shares of the nominal value of Rs. 5/- each fully paid up in the Capital of the Company be and is hereby sub-divided into 5 equity shares of Rs. 1/- each fully paid up and Clause V of Memorandum of Association be altered accordingly. Further pursuant to the sub-division of equity shares of the Company the 1,86,30,298 (One Crore Eighty-Six Lacs Thirty Thousand Two Hundred NinetyEight) issued, subscribed, and paid-up Equity shares of the face value of Rs. 5/- (Rupees Five each) fully paid up shall stand sub-divided into 9,31,51,490 (Nine Crores Thirty One Lacs Fifty One Thousand Four Hundred Ninety) Equity shares of Face value Rs.1/- (Rupees One) each fully paid up.

Daily Bulletin (30th January, 2020)

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200130-44

1.Scrip code : 540078
Name : Mitsu Chem Plast Limited
Subject : Outcome Of The Board Meeting Held Today I.E 30Th January, 2020.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that at the Meeting of Board of Directors of our Company held today i.e. 30th January, 2020 has, inter alia considered and: 1.Allotment of 80,48,400 equity shares of Rs.10/- each as fully paid bonus equity shares, to the members whose names appear in the register of Members as on the Record date fixed for this purpose, in the ratio 2:1 i.e 2 (Two) Bonus Shares of Rs. 10/- each fully paid for every 1 (one) existing equity share of Rs 10/- each fully paid up held. 2.Appointment of Ms. Neha Sunil Huddar (DIN:00092245) as an Additional Director (Independent Director) w.e.f. 1st February, 2020 to hold office till the conclusion of the ensuing Annual General Meeting of the Company. 3.Noting of Resignation of Mrs. Ameeta Dedhia from the Board of the Company w.e.f. close of working hours of 1st February, 2020.

2.Scrip code : 540366
Name : Music Broadcast Limited
Subject : Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
This is further to our letter dated January 27, 2020, wherein we had informed that the Board of Directors of the Company has considered, approved and recommended issuance of Bonus Shares, subject to the approval of Members of the Company. In this regard, we wish to inform you that the Company has completed the dispatch of the Postal Ballot Notice along with the required documents, through permitted mode, i.e. through physical mode and e-mails, on January 30, 2020 including an option to vote through remote electronic voting, seeking approval on the following matters:- Sr. No Description of the Resolution(s) 1 Increase in Authorised Share Capital and consequent alteration of the Memorandum of Association of the Company (Ordinary Resolution) 2 Issue of Bonus Shares (Ordinary Resolution) The Notice of the Postal Ballot and Postal Ballot Form can also be downloaded from the Company’s website

3.Scrip code : 539661
Name : ACE MEN ENGG WORKS LIMITED
Subject : Board Meeting Intimation for Consideration Of Unaudited Financial Results For The Quarter And Nine Months Ended As On 31.12.2019
Ace Men Engg Works Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/02/2020 ,inter alia, to consider and approve We hereby inform you that a meeting of the Board of Directors of our Company is scheduled to be held on Friday, 14th February, 2020 at 4.00 p.m. at the registered office of the Company situated at 102, Milestone Commercial Complex, Kashi Vishwanath Road, Nagnath Gate, Jamnagar 361001, Gujarat, inter alia, 1. To consider, approve & take on record the Unaudited Financial Result of the Company for the quarter and nine months ended on December 31, 2019; 2. The Board has proposed for splitting the Face Value of equity shares of the Company from Rs. 10/- each to Rs. 5/- each subject to approval of shareholders; 3. To consider and discuss any other items as may be decided by the Board of Directors of the Company. Further, the trading window for dealing in the securities of the Company will be closed for the Specified Persons till the completion of 48 hours after the announcement of the financial results for the quarter ended on 31st December, 2019.

4.Scrip code : 539304
Name : Canopy Finance Limited
Subject : Board Meeting Intimation for Consideration Of Unaudited Financial Results For Quarter And Nine Months Ended As On 31.12.2019
Canopy Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/02/2020 ,inter alia, to consider and approve It may be noted that a meeting of the Board of Directors of Canopy Finance Limited shall be held on Friday, 14th February, 2020 at the scheduled time at 2.00 p.m. at the corporate office of the company, wherein the Board shall consider matters as follows: 1. Unaudited Financial Results for the quarter and nine months ended as on 31st December, 2019. 2. The Board has proposed for splitting of 1 equity share of the Company of Rs. 10/- each into 2 equity shares of Rs. 5/- each subject to approval of shareholders. 3. To discuss any other matter with the consent of the Chairman. Further, the Trading Window for dealing in the securities of the Company is already closed till completion of 48 Hours after the announcement of the financial results of the company to the Stock Exchanges

5.Scrip code : 539875
Name : RSD Finance Limited
Subject : Corporate Action-updates on Outcome of Sub division / Stock Split
Please be informed that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, the Company has fixed Wednesday 12-02-2020 as the Record Date for the purpose of Sub-division of the equity share of face value of Rs.10/- each into face value of Rs. 5/- each.

6.Scrip code : 500730
Name : NOCIL Ltd
Subject : Scheme Of Amalgamation
Pursuant to Regulations 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Board of Directors have approved the Scheme of Amalgamation of Suremi Trading Private Limited and Sushripada Investments Private Limited with NOCIL Limited.

7.Scrip code : 542830
Name : Indian Railway Catering and Tourism Corporation Limited
Subject : Corporate Action-Board to consider Dividend
In terms of Regulation 29 and 42 read with Regulation 33 of the SEBI (LODR) Regulations, 2015, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 12th February, 2020, inter-alia to consider, approve and take on record the un-audited financial results of the Company for the quarter and nine months ended on December 31, 2019 and to declare interim dividend, if any , and to fix the record date for the purpose of payment of dividend. Further, as per the Internal Code of Conduct for Prevention of Insider Trading in Dealing with Securities of IRCTC Limited, Trading Window has been closed from Wednesday, January 1, 2020 till the expiry of 48 hours from the date the said financial results are made public. Intimation regarding closure of trading window has already been given vide our Notice dated December 30, 2019. During the closure of Trading Window, Insiders have been advised not to deal in the shares of IRCTC Limited.

8.Scrip code : 961900
Name : NTPC Limited
Subject : Corporate Disclosure – Con Cal Q3 FY20
In terms of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that NTPC Ltd. will hold a conference call on February 7, 2020, wherein Senior Management team of NTPC Ltd. will discuss the Company’s results for Q3 FY20 and interact with the Analysts and Investors. For further details, please refer to NTPC website.