Equity market News -5th September 2008

• PE players eye BT's stake in Tech Mahindra - ET
• Patel Eng close to acquiring coal mine in Indonesia - ET
• ONGC has agreed to sell gas at $11/mmbtu to Maharashtra govt, which is 2-1/2 times higher than govt approved price of $4.32 - ET
• Steel Cos have slashed prices by Rs 2000/tn from Sept 1 - ET
• Balco's residual stake sale headed for arbitration as Sterlite and Govt fails to arrive at an appropriate valuation - BS
• Jai Corp raises Rs 5686 cr via 2 venture funds - BS
• Bharti likely to buy Foodland Fresh - DNA
• OVL eyes Canadian co for $1.5bn - Mint
• Tatas looking to spin off international steel assets, including Corus Overseas listing could raise billions of dollars to help bankroll steel unit’s expansion - FT
  

Mobile Tele - Stock split

Mobile Tele Communications Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on September 04, 2008, inter alia, has approved the sub-division in the face value of the equity shares from Rs 10/- each to Re 1/- each and the consequential alterations in the memorandum & articles of association of the Company.

JK Tyre - Rights Issue Updates

With reference to issue of 1,02,64,836 Equity Shares of Rs 10/- each at Rs 85/- per Equity Share including premium of Rs 75/- per Equity Share aggregating to Rs 87,25,11,060/- to the Equity Shareholders on Rights Basis in the ratio of one Equity Share for every three Equity Shares held as on the Record Date i.e. July 14, 2008 (Issue), JK Tyre & Industries Ltd has informed the Indian stock market that the said issue opened on August 04, 2008 and closed on September 02, 2008.

Gail India - Record Date for Bonus Issue

Gail India Ltd has informed the Indian stock market that for issuance of one bonus share for two equity shares held, the 'Record Date', has been fixed for October 07, 2008. The proposal has also been approved by the Shareholders in their meeting held on September 04, 2008.

Apeego Board - Bonus Issue

Apeego Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on September 04, 2008, has recommended the issue of bonus shares to the shareholders in the ratio of 1:1 subject to the approval of shareholders at the ensuing Extra-Ordinary General Meeting.

Equity Market news - 4th September 2008

• LIC, GIC offers all their shares in Ranbaxy open offer - BS
• M&M likely to sell its 14.04% stake in Swaraj Mazda to Sumitomo- ET
• GAIL wants to set up petrochem capacity with investment of Rs 500 cr in 5 yrs - ET
• Archies inks distribution tie-up with UK based Carte Blance products - BS

Bosch - Buyback of equity shares

Bosch Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on September 02, 2008.

Adinath Bio-Labs - Stock Split

Adinath Bio-Labs Ltd has informed the Indian stock market that the Register of Members & Share Transfer Books of the Company will remain closed from September 22, 2008 to September 26, 2008 for the purpose of sub-division / stock split i.e. existing one equity shares of face value of Rs 10/- each are sub-divided into ten equity shares of face value of Re 1/- each.

Tata Investment - Rights Issue Record Date

Tata Investment Corporation Ltd has informed the Indian stock market that September 17, 2008 has been fixed as the Record date for the purpose of Right Issue.

- Instrument - Zero Coupon Convertible Bond (ZCCB) with detachable warrant.

- Right Ratio - 1 ZCCB with detachable warrant for 5 Equity Shares held on the Record Date.

- Conversion - Each ZCCB will have three parts -

Part 'A' of Rs 300 would be compulsorily converted into 1 equity share of Rs 10 at a price of Rs 300 per share on August 01, 2009.

Part 'B' of Rs 350 would be compulsorily converted into 1 equity share of Rs 10 at a price of Rs 350 per share within 18 months from the date of allotment.

Part 'C' will be a detachable warrant which will entitle the holder to purchase one equity share at a price of Rs 400 per share during the month of April, 2011.

Valecha Engineering - Bonus Issue Record Date

Valecha Engineering Ltd has informed Indian Stock Market that October 03, 2008 has been fixed as the Record Date for the purpose of determining the entitlement of the Bonus Shares.

Equity Market News -2nd September 2008

• limestone mines in Andhra Pradesh - DNA
• Reliance Infra makes fresh bid for monorail - ET
• Cement prices up by Rs 3/bag in Mumbai - BS
• The ministry of mines have rejected plead to acquire limestone mines in Andhra Pradesh - DNA
• L&T, Karnataka Power close to buying Indonesia coal mines - BL

Mobile Tele-Sub-division of equity shares

Mobile Tele Communications Ltd has informed the Indian stok market that a meeting of the Board of Directors of the Company will be held on September 04, 2008, to consider sub-division of the face value of equity shares from Rs 10 each to such lower denomination as may be decided.

Maharashtra Industrial -Stock Split

Maharashtra Industrial Leasing & Investments Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on August 30, 2008, has decided to split the shares from Rs 10/- to Re 1/-.

Rain Commodities - Buy Back

Rain Commodities Ltd has informed the Indian Stock Market that the Board of Directors of the Company at its meeting held on September 01, 2008,has approved Buy back of the Company's fully paid-up equity shares of Rs 10/- each, from open market through the Stock Exchange mechanism, at prevailing market price on the Stock Exchanges but subject to a price not exceeding Rs 307/- per equity share and subject to a maximum of 12,00,000 equity shares.

Equity Market News -1st September 2008

• RIL scraps KG basin stake transfer, sends letter to petro min to withdraw proposal to transfer 80% participatory interest - ET
• Ministry of Steel has summoned steel players to review steel prices today, new moratorium or price cut likely - DNA
• Private Oil cos suggest formula to revive retail biz, plans to source for PSUs petrol, diesel at Re 1 more and sell at Re 1 more - BL
• Satyam pursuing 4 acquisitions - BL
• PSL gets approval for energy SEZ - BL
• Balaji Shows Kyuki or Kahanii likely to go off air soon - BS
• Govt plans to conclude 3G auctions by Oct 3 may bar global players as FIPB approval will take time - ToI
• SBI to underwrite $1bn for Tata’s Senoko bid - ET
• Credit Suisse realty fund to invest in Purvankara arm - ET
• ICICI Bk says home sales down 35% in last 18 months - ET
• Shriram EPC acquires 55% in Banglore based engineering consulting firm - ET
• Tatas eyes iron mines in Laos - BS
• Alok Ind in talks with PE firms to raise Rs 300 cr - Mint

Maharashtra Industrial - Stock Split

:Maharashtra Industrial Leasing & Investments Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on August 30, 2008, inter alia, has decided to split the shares from Rs 10/- to Re 1/-.