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Saturday, October 11, 2008

Sumeet Industries-Right Issue Record Date

Sumeet Industries Ltd has informed the market that October 29, 2008 has been fixed as the Record Date for the purpose of Rights entitlement (one equity share for every one equity share held i.e. 1:1) at a price of Rs 15/- per share i.e. each share of face value of Rs 10/- each to be issued at Rs 15/-

Friday, October 10, 2008

  • New 2G players face hefty sellout fee, sale of over 50% to attract acquisition levy equivalent to market value: ET
  • Tata Power looking at increasing stake in Indonesia’s Bumi Resources, has 30% in two unlisted coal subsidiaries of Bumi: ET
  • M&M-BAE Systems JV fails to get necessary approval for 49% stake of foreign partner
  • Hindalco
    -Promoters mop up 4 million shares from open market in last two days: BS
    -Rights issue may devolve; underwriters may have to pick 20%; promoters have promised to subscribe to 50%: ET
  • Tata Communications South African arm Neotel looking to raise USD 1 billion for expansion: BS
  • ONGC seeks stake in Kazakhstan oil company with 194 million tonnes recoverable reserves: DNA Money
  • Arcelor-Mittal, Tata Steel eye stake in 18 abandoned mines of Coal India: DNA Money
  • Cairn India yet to get ‘right of use’ for Rajasthan pipeline from state government: HBL
  • Philips, GE, Siemens eye L&T medical division: BS
  • Nagarjuna Construction gives up on Blackstone, delay helped Blackstone to save substantial money: Mint
  • Citi Bank, Reliance Retail plan 50:50 finance JV: BS

Tuesday, October 7, 2008

Equity Market News- 7th Otober 2008

  • Quippo, a subsidiary of SREI Infra may transfer telecom assets to Tata arm, pick up 49% in merged entity - ET
  • Zandu owners, Emami attempt out-of-court settlement - ET
  • Alok Industries may sell eco-friendly textiles to Tatas - ET
  • Center weighs 100% FDI in commodity broking business - ET

Thermax bags Rs 450 crore order

Thermax Ltd has informed the market that the Company has won a Rs 450 crore order for setting up a captive power plant. The 60 MW power plant will be built and commissioned on a turnkey basis for a green field integrated steel complex in Andhra Pradesh. The plant will use process gases and blended coal as fuel.

Ganesh Housing - Buy Back

Ganesh Housing Corporation Ltd has informed the market that a meeting of the Board of Directors of the Company will be held on October 25, 2008, inter alia, to consider the proposal for buy-back of equity shares upto such amount of the aggregate of Company's paid up equity capital and free reserves as the Board may decide in accordance with the provisions of Sections 77A, 77AA and 77B of the Companies Act, 1956 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998. The members of the Board will consider the aforesaid proposal only if the members of the Company at the Extra Ordinary general meeting scheduled to be convened on October 25, 2008 approves the insertion of requisite enabling Clause 10A in the Articles of Association of the Company for buy back of equity shares.

DLF -Buy Back Offer

The Company announces the Buy-back ("buy-back") of fully paid-up equity shares of the face value of Rs 2/- each ("Equity Shares") not exceeding 2,20,00,000 equity shares ("maximum Offer Shares") and a minimum number of 55,00,000 Equity Shares ("minimum Offer Shares"), from the existing owners of Equity Shares other than the persons in Control at a price not exceeding Rs 600 per Equity Shares ("Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs 1,100 crore ("Maximum Offer Size"). The maximum Offer Size represents 9.80% of the aggregate of the Company's total paid-up equity capital and free reserves as on March 31, 2008 (the date of the latest standalone audited accounts)

Jaipan Industries -Bonus Issue

Jaipan Industries Ltd has informed the market that the Board of Directors of the Company at its meeting held on October 06, 2008, inter alia, has approved the followings:

1. Issue of Bonus shares in the ratio of one Equity share for every Two Equity Shares held.

2. Issue of Global Depository / American Depository Receipts, Foreign Currency Convertible Bonds for an aggregate amount up to USD 25 million in one or more tranches subject to the approval of Shareholders and other concerned authorities

Monday, October 6, 2008

Equity Market News- 6th October 2008

  • TCS close to buying Citi’s BPO arm for $ 550 million -ET
  • L&T Capital buys 4.2% stake in Kalindee rail - ET
  • Allahabad Bank defers rights issue - BL
  • Hindalco promoters forgo warrant conversion, may subscribe to additional shares in rights issue – BS
  • Finance Minister hardened its stance against trade deal with Mauritius, feels Mauritius must find solution to double tax treaty misuse – BS
  • Cairn India’s Ravva oilfield enters declining phase in July-September quarter-BL
  • Essar Construction to take up pipeline projects on EPC basis - BL

Sybly Industries - Stock Split

Sybly Industries Ltd has informed the market that the Board of Directors of the Company at its meeting held on October 04, 2008, inter alia, has taken the following decisions:

1. To split the Equity shares of the Company from face value of Rs 10/- (Rs Ten) per share to Rs 1/- (Rs One) per share subject to the approval of the shareholders.

2. An Extra Ordinary General Meeting has been convened on November 05, 2008 to take approval of the shareholders.

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