Top News

Share India Securities Ltd a company providing algo trading solutions released four important pieces of information after market hours last Thursday. As of 10:17 am today the companys stock was trading at Rs 191.48 down 4.18% or Rs 8.35 on the NSE while on the BSE the stock was trading at Rs 191.95 down 3.83% or Rs 7.65. However this stock has given a return of 979 per cent in the last five years. The companys board members have approved raising funds up to US$50 million (approximately ₹420 crore) through the issuance of Foreign Currency Convertible Bonds (FCCBs). The funds will be raised through a private placement. However this decision will be implemented subject to the approval of shareholders and the necessary regulatory authorities. Approved the proposal for incorporation of a new subsidiary with the proposed name of Share India Greyhill Private Limited or such other name as may be approved by Registrar of Companies (‘Proposed Subsidiary’) and to make an investment up to Rs. 60000000/- (Rupees Six Crore Only) in the equity shares of the proposed Subsidiary Company. The companys board members have declared a second interim dividend of Rs 0.40 per equity share with a face value Rs 2 each. “Declared 2nd interim dividend of ₹0.40/- (Forty Paisa only) per equity share having face value of ₹2/- (Rupees Two only) each” the company said in an exchange filing. The companys net profit in the July-September quarter fell 25 per cent to Rs 93.22 crore. Its net profit in the same quarter an year ago was Rs 124.26 crore. Revenue from core operations also declined 24.6 per cent to Rs 340.95 crore compared to Rs 452.75 crore in the same quarter last fiscal year. The Company has approved a proposal to form a new subsidiary company to be named Share India Greyhill Private Limited (or such other name as may be approved by the Registrar of Companies).