Equity Market News- 3th October 2008

• ICICI Bank, Kotak Mahindra considering 100bps hike in loan rates, HDFC to stay put for now - ET
• Steel Cos plan output cut on falling demand, costlier ore - ET
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• DLF plans to sell stake in DLF Utilities, SPV to raise USD 1.25 billion - DNA
• Provogue plans Rs 90 cr expansion, to expand to tier 2 cities - ET
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• SpiceCom has lost nearly 1 m subscribers post Idea takeover - ET
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• Sun Pharma to extend Taro offer which expires today - ET
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• Daimler to retain its 6.64% stake in Tata Motors - ET
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• NBFC’s borrowing at never before rates in money market to keep afloat, paying 1000-1800 bps above Mibor - ET
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• Developers waiving rents, ready to pay retailers to set up shops in malls as demand falls - BS
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• L&T in talks with Areva, GE for N venture - HT

Time Technoplast -Stock Split Record Date

Time Technoplast Ltd has informed the market that November 06, 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 10 shares of Re 1/- each.

Equity Market News- 29th September 2008

• nfosys may top HCL bid with 720p offer – ET 
  
• RIL promoter’s warrant conversion starts next week, RIL’s paid up capital to increase by 8.6%, Promoters holding to go up to 55% post conversion - ET
  
• Spain’s Inditex may shun DLF in favour of Tata for Indian foray –ET
  
• Finmin rejects proposal to consider FII stake outside FDI limit – ET
  
• RIL may get tax break on diesel – BS
  
• Roche files 2 petitions against Cipla copycat drug – BS
  
• Govt mulls FDI in milti-brand retail – BS
  
• SemIndia will not purse plans for $3bn semiconductor chip unit – DNA
  

Suzlon Energy - Rights Issue

Suzlon Energy Ltd has informed the market that the Board of Directors of the Company at its meeting held on September 27, 2008 has :

1. Approved a Rights Issue of equity shares of the Company to a maximum extent of Rs 1800 Crores. The terms and conditions of such rights issue including the rights entitlement ratio, the issue price, record date, etc. would be announced by the Board of Directors in due course.

2. Approved execution of Subscription Agreement, Shareholders' Agreement and such other deeds and documents to facilitate IDFC Private Equity to invest in SE Forge Ltd, a wholly owned subsidiary of the Company to an extent of Rs 400 Crores in form of equity shares aggregating to 17.1% of the share capital of the said SE Forge Ltd, pursuant to which the Company's shareholding in the said SE Forge Ltd would stand reduced to 82.9%