Bhel gets shareholders' nod for bonus share, 79% dividend
NEW DELHI: State-owned power equipment maker BHEL has received shareholders' approval for the proposal to issue 1 new equity bonus share for every 2 existing shares.
The proposal to issue bonus share in the ratio of one bonus share for every 2 existing shares to members was listed on the agenda for annual general meeting held on September 22, 2017, which as passed by the requisite majority, Bharat Heavy Electricals Ltd (BHEL) said in a BSE filing on Monday.
The shareholder have also approved the proposal to give a final dividend of 39 per cent. With this, the total dividend for the year 2016-17 will stand at 79 per cent. According to the proposal, shareholder will be issued one new bonus equity share of Rs 2 each for every 2 existing shares of Rs 2 each fully paid up. Prior to the bonus issue, the company has 244.76 crore shares of Rs 2 each aggregating Rs 489.52 crore. Post bonus issue the number of share will increase to 367.14 crore of Rs 2 each aggregating at Rs 734.28 crore.
The company will require Rs 244.76 crore free reserves for implementing the bonus issue. As on March 31, 2017, the company had defined free reserves and surplus of Rs 31,769.74 crore. Earlier, the company had said that the bonus share are estimated to be credited to shareholder account by October 9, 2017.
The company's shares closed at Rs 127.35 apiece, down 1.85 per cent at BSE.
BHEL owned and founded by the Government of India, is an engineering and manufacturing company. NEW DELHI: Engineering and technology firm Siemens on Monday said it has sold its Worli office property for Rs 610 crore to Whispering Heights Real Estate Pvt Ltd, a joint venture of Reco Solis Pte Ltd and K Raheja Corp Group.
The company said in a BSE filing that it has transferred and assigned its leasehold interest in the property to Whispering Heights. Reco Solis Pte Ltd is an affiliate of GIC, Singapore.
"Siemens Ltd and Whispering Heights Real Estate Pvt Ltd, have on Monday executed a MOU for the transfer and assignment of the Company's leasehold interest in the Property located at Plot No 130, Pandurang Budhkar Marg, Worli, Mumbai - 400018 for a total consideration of Rs 610 Crore in favour of the Proposed Assignee," it had said. NEW DELHI: Professional networking firm Linkedin has seen "extremely healthy" growth in India and is now working towards bringing blue-collar jobs onto its platform to further expand its offerings here, its cofounder Allen Blue today said.
Linkedin, which has over 500 million members, counts India as its second largest user base with over 42 million users. The platform allows employers and job-seekers to connect with each other.
Linkedin on Monday announced its partnership with IL&FS Skills Development Corporation Ltd (IL&FS Skills) to help upskill and improve the the employability of blue-collar workers and job-seekers in the country.
"The growth in India is tremendous and the way we measure our success, the growth in India is extremely healthy. Moving into the blue-collar space is something we know we need to do to be successful here in India," Blue told PTI.
He explained that India has employers of various sizes, right from global companies to small and medium enterprises and that they need have a variety of skill requirements.
"Linkedin traditionally has focussed on white-collar jobs... this is an opportunity for us to understand and work with those companies who are interested in hiring all throughout the skills sector," he said.
Blue said the company has done some experiments with blue collar jobs in the US.
The partnership with IL&FS Skills will offer a great scope to learn that can be taken to other parts of the world, he added.
Under the programme, IL&FS Skills will design and provide skilling modules and training environment, while Linkedin will help the students find a job. Through an interface powered by Linkedin, the students will be able to create a profile, access learning content, build their network by connecting with classmates, seniors and instructors and get a job.
An initial batch of 400 people will be trained in the hospitality sector. The programme will be extended to other industries later.
"India has a massive bluecollar workforce, one that can be a game-changer for businesses and our economy. We hope that this partnership will help narrow the gap between the demand and supply of talent," Akshay Kothari, Country Manager and Head of Product at Linkedin India, said.
Ministry of Skill Development And Entrepreneurship Secretary K P Krishnan said skilled wage premium has been absent in India, primarily a result of information asymmetry.