Equity Market News -12th September 2008

• Companies with low public float will have to increase stake to minimum 25% - ET
• People of Indian Origin may get nod to buy property in India without RBI approval - ET
• Rocksource to pick up 10% stake in ONGC's Cauvery deepwater block - ET
• Government decides not to allow merger of Indian companies with foreign companies - ET
• Jetlite to cut staff by a third to integrate with Jet Airways - BS
• Omaxe to raise Rs 300 cr via 10% stake sale in subsidiary Natnl Affordable Hsg: DNA
• Deccan, Kingfisher register biggest drop in passengers carried in August - DNA

Equity Market News -11th September 2008

• IFCI to restart effort to rope in a strategic partner - BS
• HCL Tech plans USD 1 billion venture fund - BS
• Raj Tele eyes print media, in talks with PE players to raise funds - Mint
• Bajaj Auto plans 4 new passanger and cargo vehicle launch post September - Mint
• Government to allow media firms to demerge FM radio business - BS
• Madhucon Project moves HC after being dropped from the list of 6 short listed bidders for NHAI project - BL

L&T bags largest Brazilian equipment order

Larsen & Toubro Ltd (L&T) has informed the Indian stock market regarding a Press Release dated September 10, 2008 titled "L&T bags largest Brazilian equipment order".

Bafna Spinning -Record Date Stock Split

Bafna Spinning Mills & Exports Ltd has informed the Indian stock market that September 25, 2008 has been fixed as the Record Date for the purpose of sub-division / stock split of Rs 10/- per share of the Company into the shares of Rs 5/- each.

Era Infra -Stock Split, Dividend & AGM

Infra Engineering Ltd has informed the Indian stock market that the Register of Members & Share Transfer Books of the Company will remain closed from September 24, 2008 to September 29, 208 (both days inclusive) also for the purpose of sub-division / stock split of Equity Shares of Rs 10/- per share of the Company into the shares of Rs 2/- each.

Gujarat NRE -Rights Issue of DVR Shares

Gujarat NRE Coke Ltd has informed the Indian stock market that a meeting of the Board of Directors of the Company will be held on September 17, 2008, inter alia, to consider issue of Equity Shares with Differential Voting Rights on rights basis subject to the approval of members.

Equity Market News -10th September 2008

• Unitech likely to sell stake in teleco business to Telenor - ET (Telenor is reportedly in race to be a partner, but sources say Government may not clear Telenor's investment because of company's big presence in Pakistan)
• Fujitsu, NTT may put in a counter bid for Axon - ET
• BPL mobile has issued 17% equity to a Mauritius based entity to raise $ 80m last year - ET (Vodafone and Essar are fighting over the control of BPL Mobile)
  
• Vedenta may scrap Orrisa steel plant - BS
• IndoFoil organics plans Rs 130 crore capex - BS
• Dolphin Offshore eyes JV with Brunei firm - DNA
• 3i Infotech bag government deal for setting up 12000 IT kiosks - ET

Hydro S&S - Buy-Back

Hydro S&S Industries Ltd has informed the Indian stock market that a meeting of the Board of Directors of the Company will be held on September 16, 2008, to consider Buy Back of its own securities.

Aro Granite - Record Date for Bonus Issue

Aro Granite Industries Ltd has informed the Indian stock market that September 30, 2008 has been fixed as the Record Date for the purpose of reckoning the members eligible for the Bonus Equity Shares in the ratio of 1:2 i.e. One fully paid equity share for every two equity share held.

Kamanwala Housing - Bonus Issue Record Date

Kamanwala Housing Construction Ltd has informed the Indian stock market that September 22, 2008 has been fixed as the Record Date for the purpose of issue of Bonus Shares in the proportion of one new Equity Shares of Rs 10/- each for every one existing Equity Share held.

Equity Market News - 9th Septemebr 2008

• HCL Tech may bid 15% higher for Axon - Economic Times
• Unitech raises Rs 1200 cr debt for its telecom venture from banks lead by PNB and Canara BK - Economic Times
• Vedanta to rejig India operations, likely to merge Malco with Sterlite - Economic Times
• FMCG cos stop supplies to Subhiksha as unpaid bills mount - Economic Times
• Aviation ministry refuses to let ROSS, Nabha be part of Spicejet board - Economic Times
• OVL submits bid for 20% stake in Angolan oil block - Business Standard

Patels Airtemp - Order for Essar Oil Refinery, Gujarat

Patels Airtemp India Ltd has informed the Indian stock market that the Company has received an order of worth Rs 1609 Lacs for Shell and Tube Heat Exchangers for Essar Oil Refinery Project, Gujarat.

ICSA India secures orders worth Rs 236.14 Crores

ICSA India Ltd has informed the Indian stock market that the Company has secured work orders for a total contract value of Rs 236.14 Crores from Mahavitaran (Maharashtra State Electricity Distribution Co. Ltd) and M P Paschim Kshetra Vidyut Vitaran Co. Ltd.

Blue Bird - Export Order

Blue Bird India Ltd has informed BSE that the Company has received an order for export of notebooks to USA.

The total size of the order is US$ 4.40 Million. The Company expects to complete these orders by the end of the current financial year.

R Systems International - Buy-back of equity shares

R Systems International Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on September 07, 2008, has approved the proposal for Buy-back of the equity shares of the Company under first proviso to clause (b) of sub-section (2) of Section 77A of the Companies Act, 1956 with inter alia the following terms,

1. The total consideration amount for Buy-back shall not exceed Rs 800 lakhs.

2. The total number of shares for Buy-back shall not exceed 1,306,941 equity shares and

3. The Buy-back price per equity share shall not exceed Rs 150 per equity share.

Valiant Communications - Buy-Back

Valiant Communications Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on September 08, 2008, inter alia, has approved a buy-back of its outstanding equity shares with the following terms:

1. Total consideration amount of Buyback: Not exceeding Rs 314.20 lacs, the amount represents 10% of the paid-up equity share capital of the Company, and its free reserves.

2. Buyback price per equity share: Not exceeding Rs 32/- (Rs Thirty Two only).

3. Mode of Buy Back: Open market through Stock Exchange in India where Company's equity shares are listed.

4. Necessity for the Buy Back: The Company considers it necessary and expedient to Buy Back its own fully paid equity shares to enhance the earnings per share and Return on Equity (%) and create long term shareholders value. The Buy Back will also provide a reasonable exit opportunity to those shareholders who so desire whilst safeguarding the interest of continuing shareholders of the Company. The Buy Back is also expected to enhance the long-term price performance and the market capitalization of the Company.

Equity Market News -8th September 2008

• Govt not "in hurry" for private participation in N Power projects: Minister of state for power -FE
• KKR eyes BT's stake in Tech Mahindra - ET
• Metavante, which owns 20% stake in First Source, appoints Goldman Sachs to sell its stake, first round bid expected this month - FT
• S Kumar Nationwide set to acquire Italian shirting firm for 75m euro - Mint
• ONCG renews drilling in Cauvery deepwater block, hope of a breakthrough soon - BL
• Sebi clears Future Venture IPO with few riders, co need to utilize the fund within 3 yrs and the needs shareholder approval to buy more than 20% stake in any co - ET
• Wipro puts 3000 employees under scanner for under-performance, some may be asked to leave - ET
• Bulk diesel user will have to pay market price of Rs 22/litre under dual pricing mechanism - ET
• Govt to dilute stake in 2 PSU fertilizer co Hindustan Fertilizer Corp and Fertilizer Corp India to raise Rs 700 cr - ET
• Visa Steel is said to have piped Tatas, Jindal for Tangarpada chrone ore in Orrisa - DNA