Radial Equity

Equity Market News -13th October 2008

2008-10-13T09:06:00.001+05:30

Hindalco rights issue devolves, LIC stays away from issue as prices falls below the offer prices: BS
Tata Motors
Tata Motors rights issue may be in trouble – BS
Payment to Ranbaxy shareholder will begin from Tuesday, followed by promoters selling its 34.5% stake to Daiichi – ET
McKinsey sues Reliance Communication on consultancy dues,
-Reliance Communication says not clear whether Rs 27.13 crore is due for it or from Reliance Industries – DNA

Sumeet Industries-Right Issue Record Date

2008-10-11T09:17:00.000+05:30

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/-

2008-10-10T10:22:00.000+05:30

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

Equity Market News- 7th Otober 2008

2008-10-07T10:04:00.001+05:30

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

2008-10-07T10:03:00.000+05:30

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

2008-10-07T10:02:00.000+05:30

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

2008-10-07T10:01:00.002+05:30

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

2008-10-07T10:00:00.000+05:30

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

Equity Market News- 6th October 2008

2008-10-06T10:16:00.001+05:30

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

2008-10-06T10:15:00.000+05:30

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.

Equity Market News- 3th October 2008

2008-10-03T09:42:00.002+05:30

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
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
SpiceCom has lost nearly 1 m subscribers post Idea takeover - ET
Sun Pharma to extend Taro offer which expires today - ET
Daimler to retain its 6.64% stake in Tata Motors - ET
NBFC’s borrowing at never before rates in money market to keep afloat, paying 1000-1800 bps above Mibor - ET
Developers waiving rents, ready to pay retailers to set up shops in malls as demand falls - BS
L&T in talks with Areva, GE for N venture - HT

Time Technoplast -Stock Split Record Date

2008-10-03T09:40:00.000+05:30

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

2008-09-29T08:50:00.002+05:30

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

2008-09-29T08:45:00.002+05:30

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%

Equity Market News -26th September 2008

2008-09-26T11:07:00.000+05:30

FII and PN norms set to review, SEBI board meet on October 6 – ET
RCF plans chemical park, comex to unlock real estate value – BS
RIL eyes fertilizer foray with SPIC buy, others like Sterlite and PE funds also seen in the race – ToI
Sundram Multicap loses case against ICICI Bank; HC orders company to pay the bank dues arising out of contract on structured derivatives product – Mint
Raymond puts its loss making Denim business on the block – BS (It’s a JV with a European company UCO)
Satyam top brass sell 1.6 lakh shares in last 2 months – DNA
Sterlite inches close to Asarco takeover – BS
Century Textile staff (82 employees) are reluctant to take VRS scheme which could delay the groups plan to develop the Worli property – ET
SAT declines to stop Emami open offer, preliminary hearing on November 18 – BL

Ratnamani Metals -Record Date - Stock Split

2008-09-26T11:06:00.001+05:30

Ratnamani Metals & Tubes Ltd has informed the market that November 14, 2008 has been fixed as the Record Date for the purpose of subdivision of equity shares of Rs 10 each into 5 equity shares of Rs 2/-

Equity Market News -25th September 2008

2008-09-25T11:30:00.000+05:30

* NMDC asks government to divest 47% stake in company – HT
* Balaji Telefilms eyes majority stake in 9X – ET
* OVL, Sinopec spar over Canadian company; deal worth $1.4 billion –ET
* Banks put brakes on loan against property on fear of defaults – ET
* Sical looking to sell 26% in Ennore iron ore terminal to MMTC – DNA
* UAE based Masdar acquires stake in Sterling Info’s WinWind for $120 million – DNA
* Anil Ambani sues Mukesh Ambani, New York Times for defamation in Bombay HC

Sybly Industries -to consider Stock Split

2008-09-25T11:25:00.001+05:30

Sybly Industries Ltd has informed the market that a meeting of the Board of Directors of the Company will be held on October 04, 2008, inter alia, to consider and if thought fit to split the face value of the shares of the Company into smaller denominations.

Suzlon Energy Board to consider Rights Issue

2008-09-25T11:24:00.001+05:30

Suzlon Energy Ltd has informed the market that a meeting of the Board of Directors of the Company will be held on September 27, 2008 to consider the proposal to undertake a rights issue of its equity shares to an extent of Rs 1800 Crores.

Zicom Electronic - Order of Rs 7.50 Crores

2008-09-25T11:23:00.001+05:30

Zicom Electronic Security Systems Ltd has informed the market that the Company has procured an order for supply, installation, commissioning and project management of wireless broadband outdoor surveillance system for Gurgaon on turn key basis for a total cost of Rs 7.50 crores.

The formal order in this regard is expected in short time

South Indian Bank - Bonus Issue

2008-09-25T11:20:00.000+05:30

South Indian Bank Ltd has informed the market that October 17, 2008 has been fixed as the Record Date for the purpose of taking out a list of shareholders eligible for issue of bonus shares in the ratio of 1 bonus share for every 4 shares held on that date

Equity Market News -24th September 2008

2008-09-24T10:53:00.000+05:30

AIG holding in local companies under cloud; FIPB may seek information on stakes held by AIG in listed companies – ET
Balaji to start hindi entertainment channel by year end; Pradeep Guja likely to head the business – ET
Tech Mahindra, TCS eye Flextronics units – ET (Company has put the design service unit in Bangalore on block)
Ranbaxy drugs in US AIDS programme under scanner –ET
Government review plans to take FIIs out of FDI sector limits – BS

Tayo Rolls - Right Issue

2008-09-24T10:46:00.000+05:30

Tayo Rolls Ltd has informed the market that a meeting of the Committee of Board - Rights Issue of the Company will be held on September 26, 2008, inter alia, to consider the following:

1. To consider and approve the swap ratio for the Rights Issue of Equity Shares (not exceeding Rs 60.34 crores).

2. To fix the premium per Equity Share for the Rights Issue.

3. To fix the record date for ascertaining the names of members who will be entitled to the Equity Shares issued pursuant to the Rights Issue.

Equity Market News-23rd September 2008

2008-09-23T10:06:00.000+05:30

Canadian regulator now issues notice to Ranbaxy, company's 2 units under scrutiny - Mint
Tata Motors to roll out 3 Nano variants next month - ET
SBI says no plans to purchase Lehman's India assets: PTI
Sterlite Technologies in talks to acquire UK based Brand-Rex for $55 million - ET
Reliance Infra pulls out of Jaipur project to develop 143 km - BS
Karuturi Global to sell 15% stake in Dubai arm to raise $100 million - BS
UK based Hedge Fund Children's Investment Fund planning legal action against Vedanta for its recent restructuring in India - ET
Bharti gives Akhil Gupta stake in tower company - ET
Balaji Tele signs exclusive content production deal with Sun Network - BS

Roto Pumps Secures Order

2008-09-23T10:05:00.002+05:30

Roto Pumps Ltd has informed the market that the Company have bagged a major Order valuing Rs 360.00 lacs from Larsen & Toubro Ltd for Rajasthan Northern Area Development Project of Cairn Energy India Pvt Ltd. Larsen & Toubro Ltd is the contractor for this project and the project is certified for deemed export benefits. This order is the single largest value order in the history of the Company.

The Company have bagged this order against stiff International competition based on its good track record of supplies to Cairn Energy

GS Auto - Export Orders

2008-09-23T10:05:00.001+05:30

GS Auto International Ltd has informed the market that the Company has received Export orders worth Rs 10.60 Millions, from various customers, such as Arvin Meritor, Hermann Peter Gmbh Germany, Sieg Fried Templing Gmbh Germany, Rotark Gears B.V.Holland and Mast Trading Company, Dubai. With these orders, the Company has total Export orders in hand, worth Rs 38.50 Millions, till dates.

Jaipan Industries -Bonus Shares

2008-09-23T10:03:00.000+05:30

Jaipan Industries Ltd has informed the market that a meeting of the Board of Directors of the Company will be held on October 06, 2008, inter alia, to transact the following:

1. To consider the issue of Bonus Shares.

2. To consider the proposal for raising the equity by issue of GDR / FCCB.

3. To review the progress of expansion of Business.

Maestros Mediline - Buy-back of Shares

2008-09-22T09:59:00.000+05:30

Maestros Mediline Systems Ltd has informed the market that the Board of Directors of the Company at its meeting held on September 20, 2008, inter alia, has approved the offer of Buy Back of Shares to the extent of 10% of Paid-up Equity Capital and free reserves of the Company.

The Buy Back shall be carried out from the open market through the Bombay Stock Exchange at a maximum price of 75/- per share

Equity Market News -19th September 2008

2008-09-19T10:00:00.002+05:30

Department of industrial policy and RBI to meet shortly to discuss Lehman's realty exposure in India - ET
Tata's may buy AIG's stake in Insurance JVs - ET
WL Ross in talks with Jet and Kingfisher for a possible merger - Mint

Sanguine Media - Rights Issue

2008-09-19T10:00:00.001+05:30

Sanguine Media Ltd has informed the market that the Rights Committee Meeting of the Company was held on September 17, 2008, to consider the allotment of Shares on rights basis to the eligible shareholders. The Committee approved the allotment 70,50,000 Equity shares on Rights basis to the eligible shareholders as approved by the stock exchange

Equity Market News- 18th September 2008

2008-09-18T10:30:00.000+05:30

Telecom Italia close to acquiring 49% stake in Unitech's telecom arm for $2 billion - ET
Reliance move to HC over Raigard trade zone referendum against the SEZ - HT
Mukesh Ambani deadline to convert 120 million preferential warrant into equity at Rs 1402 per share expires by end of September - Mint
RBI tell banks to sort out swap deal with Lehman Brothers - ET
Videocon promoters to buy Thomson's 10% stake in company locked via GDR - BS
IDBI Bank seeks RBI approval for Rs 1500 crore PE fund - BS

Abbott India - Buy Back Offer

2008-09-18T10:28:00.000+05:30

The Company has completed the process of the Buyback and has bought back a total 7,97,500 shares, at a price of Rs 630/- per share. The total amount that has been deployed in the Buyback by the Company is Rs 50,24,25,000/-.

McNally Bharat - Receipt of Order

2008-09-18T10:27:00.000+05:30

McNally Bharat Engineering Company Ltd has informed the market that the Company have received an Order from Damodar Valley Corporation for design, engineering, supply, erection, testing and commissioning of combined ash slurry disposal system for both coal based Bokaro TPS 'A' 1x(500 MW + 20%) and 'B' (3x210 MW) valued at Rs 87.12 crores inclusive of all taxes and duties.

AIA Engineering - fStock Split Record Date

2008-09-18T10:26:00.001+05:30

AIA Engineering Ltd has informed the market that October 18, 2008 has been fixed as the Record Date for the purpose of Sub-division / Stock Split of Equity Shares of Face Value of Rs 10 each of the Company into the face value of Rs 2 each.

Gujarat NRE - Record Date for Bonus Issue

2008-09-18T10:15:00.000+05:30

Gujarat NRE Coke Ltd has informed the market that the Board of Directors at its meeting held on September 17, 2008, has fixed October 20, 2008 as record date for entitlement of bonus issue.

Equity Market News- 17th September 2008

2008-09-17T10:16:00.001+05:30

Reliance Industries (RIL) gas output from KG basin may be delayed - DGH - ET
Fresenius exploring options to delist Dabur Pharma, management denies -ET (has acquired 90% stake @ Rs 76/sh)
Government ready to cut size of Ultra Power project for Indian company - DNA
Government rules out windfall tax on oil company - DNA
Germany's MAN looking to buyout Force Motors in Indian JV - ET
NAV of AIG's India fund down 7% in September, no major redemption pressure reported - BL

Hydro S&S - Buy-back

2008-09-17T10:10:00.000+05:30

Hydro S&S Industries Ltd has informed the market that the Board of Directors of the Company at its meeting held on September 16, 2008 has approved Buy Back of Equity Shares for an amount not exceeding Rs 2.63 Crores i.e.10% of the paid up share capital and free reserves aggregating to Rs 26.36 Crores based on the audited Balance Sheet as at March 31, 2008 at such price(s) not exceeding maximum buy back price of Rs 60/- per Equity Share under Open Market through Stock Exchange Method.

The above buyback is subject to the approval of the Shareholders to the proposed amendment in the Articles of Association for inclusion of the provisions of buy back of Company's own shares at the forthcoming Extraordinary General Meeting of the Company being convened on October 13, 2008.

The Board had also appointed M/s Keynote Corporate Services Ltd as Managers to the proposed Buy Back Scheme and also to appoint other intermediaries in this regard.

Rain Commodities - Buy Back Offer

2008-09-17T10:09:00.000+05:30

Rain Commodities Ltd has informed the market that the Company ("Rain Commodities Ltd") has issued this Public Announcement ("PA") to the Equity Shareholders / Beneficial Owners of the equity shares of the Company in compliance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998.

The maximum offer price of Rs 307/- per share has been arrived after considering the stock market quotations, book value, return on net-worth and the possible impact of the buy-back on the earnings per share of the Company. The maximum buyback price of Rs 307/- per share offers a premium of 41.87% over the closing price on August 29, 2008 at BSE, being the latest trading day prior to the date of the board meeting for approving the buyback offer and 41.57% over the closing price on the same day at NSE.

Propose Time Table:

Board Meeting approving Buy Back - September 01, 2008

Date of opening of the Buyback - September 25, 2008

Acceptance of Shares - Within 7 days of the relevant payout dates of the respective Stock Exchanges

Extinguishment of Shares - Within 15 days of acceptance as above

Last Date for the Buy-back - April 30, 2009 or when company completed buyback to the extent of 12,00,000 shares under the offer or upon exhaustion of Rs 260 million or the date as may be decided by the Board of Directors of the Company, whichever is earlier

Hulta Pharmaceutical - Rights Issue

2008-09-17T10:06:00.000+05:30

Hulta Pharmaceutical Export Ltd has informed the market that the Board of Directors of the Company at its meeting held on September 13, 2008, inter alia, has considered the proposal to increase the Authorised Share Capital of the Company from the present level of Rs 10 Crores (Rupees Ten Crores Only) to Rs 15 Crores (Rupees Fifteen Crores only) and amend Clause V of the Memorandum of Association and Article 4 of the Articles of Association of the Company accordingly. It was decided to convene an Extraordinary General Meeting of the Company on November 01, 2008 to obtain the approval of the shareholders by way of special resolution for the increase in the authorized share capital.

Further the Company has informed that, the Board considered the proposal to offer, issue and allot 54,60,000 equity shares of Rs 10/- each for cash at par to such shareholders whose names appear on the Register of Members on the Record Date as may be determined by the Board of Directors in consultation with the Stock Exchanges on Rights Basis in the ratio of 1 (One) New Equity share for every 1 (One) Equity Share held on the said Record Date. It was decided to convene an Extraordinary General Meeting of the Company on November 01, 2008 to obtain approval of the shareholders by way of special resolution for the proposed right issue.

Bliss GVS - Bonus Issue Record Date

2008-09-17T10:05:00.000+05:30

Bliss GVS Pharma Ltd has informed the market that September 30, 2008 has been fixed as the Record Date for the purpose of issue of Bonus shares in the ratio of 3:5 i.e. Three equity shares for Five Shares held.

Jetking Infotrain - Record Date for Bonus Issue

2008-09-17T10:02:00.000+05:30

Jetking Infotrain Ltd has informed the market that September 26, 2008 has been fixed as the Record Date for the purpose of issue of bonus shares in the ratio of one new fully paid up equity share of Rs 10 each for every two equity shares of Rs 10 each.

Equity Market News -16th September 2008

2008-09-16T09:34:00.000+05:30

PE firms eye 40% stake in Usher Agro: ET
Jet may take 24% in GMR's repair facility - Mint

Glodyne Technoserve Signs agreement for order worth Rs 284 Crores

2008-09-16T09:21:00.001+05:30

Glodyne Technoserve Ltd has informed the Indian stock market that the Company, through its subsidiary - Smaarftech Technologies Pvt Ltd, has signed an agreement with Bihar State Electronics Development Corporation (BSEDC) - Govt. of Bihar for executing a turnkey Technology Project worth Rs 284 crores for implementing National Rural Employment Guarantee Scheme (NREGS) in the state of Bihar. Smaarftech, the Lead Member of the Consortium consisting of other members i.e. Face Technologies - a South African Govt. owned, leading technology Company in identity management solutions, and Anil Printers Ltd, has won this order. The order is a BOOT project executable over a period of five years. The Project would involve technology infrastructure management and smard card solution management. This project would help the Government to cover the rural masses under various government schemes for the benefit of the poor.

2008-09-15T08:58:00.002+05:30

BT may sell it’s 31% stake in Tech Mahindra to TCS - ET
NELP crude may attract special tax - ET
IFCI still on a lookout for strategic investor but seeks clarity on optionally convertible debentures held by Government Of India - FE
Tata Motors sees 31.25% drop in HCV production - FE
Rs 5000 crore relief package for airlines on card - ET ((Airport charges to go down by half; Excise Duty on ATF likely to go))
GSPC cuts IPO size from Rs 5000 crore to Rs 3500 crore after Gujarat Government’s move to garner 30% of PBT for social causes - BS
Government unlikely to allow Reliance to export LNG from RPL refinery - ET
Enhanced DEPB rate likely to continue for the next six months - ET
Japanese giant NTT DoCoMo to buy 25% of Tata Tele, deal worth Rs 6700 crore - BS
Referendum on SEZ stumps RIL, farmers opinion sought whether they are ready to part with their land- BS
Overseas arm of Wadia owned Bombay Burmah Trading Corp to raise around Rs 900 crore - ET
Government cuts stamp duty on P-notes, debentures - ET
Essar Oil close to raising USD 5 billion from 4 banks to fund Gujarat refinery expansion - BL
European Investment Bank Rothschild scouts for potential buyers for four divisions of Corus; Tata denies asking bank to find buyers for those assets - Mint
Bajaj considers new brand for low cost bikes-Mint
DoT to audit user base prior to 2G spectrum allotment, DoT rejects FinMin plea to raise reserve price-ET
Arvind to inject Rs 600 crore into retail and brand expansion till 2012 - Mint

Maestros Mediline Buy-back of equity shares

2008-09-15T08:57:00.000+05:30

Maestros Mediline Systems Ltd has informed the Indian stock market that a meeting of the Board of Directors of the Company will be held on September 20, 2008, to consider and if thought appropriate, approve the buy-back of equity shares of the Company.

Avance Technologies -Stock split

2008-09-15T08:56:00.000+05:30

Avance Technologies Ltd has informed the Indian stock market that a meeting of the Board of Directors of the Company will be held on September 23, 2008, for proposing the Sub-Division of Equity Share of Company of Rs 10 each to Such Denomination as decided by the Board.

2008-09-15T08:55:00.001+05:30

Bampsl Securities -Bonus Issue

2008-09-15T08:54:00.000+05:30

Bampsl Securities Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on June 30, 2008, has recommended to issue fully paid-up Bonus Equity Shares of Rs 1/- each in proportion of 2 (Two) new equity shares for every 5 (Five) fully paid up existing equity shares, subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.

Madras Cements - Bonus Issue & Stock Split,Record date

2008-09-15T08:52:00.001+05:30

Madras Cements Ltd has informed the Indian stock market that October 10, 2008 has been fixed as the Record Date for the purpose of issuing bonus shares in the ratio of 1:1 and Sub-Division of shares of Rs 10/- each into 10 shares of Re 1/- each.

Equity Market News -12th September 2008

2008-09-12T09:13:00.001+05:30

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

2008-09-11T09:51:00.001+05:30

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

2008-09-11T09:49:00.000+05:30

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

2008-09-11T09:48:00.000+05:30

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

2008-09-11T09:47:00.000+05:30

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

2008-09-11T09:46:00.000+05:30

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

2008-09-10T09:29:00.002+05:30

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

2008-09-10T09:25:00.000+05:30

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

2008-09-10T09:24:00.000+05:30

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

2008-09-10T09:19:00.000+05:30

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

2008-09-09T09:27:00.003+05:30

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

2008-09-09T09:24:00.002+05:30

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

2008-09-09T09:23:00.000+05:30

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

2008-09-09T09:22:00.001+05:30

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

2008-09-09T09:20:00.001+05:30

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

2008-09-09T09:15:00.001+05:30

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

2008-09-08T09:13:00.002+05:30

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

Equity market News -5th September 2008

2008-09-05T09:36:00.000+05:30

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

2008-09-05T09:35:00.000+05:30

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

2008-09-05T09:33:00.000+05:30

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

2008-09-05T09:32:00.000+05:30

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

2008-09-05T09:29:00.001+05:30

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

2008-09-04T08:53:00.001+05:30

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

2008-09-04T08:52:00.000+05:30

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

2008-09-04T08:50:00.001+05:30

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

2008-09-04T08:49:00.000+05:30

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

2008-09-04T08:48:00.000+05:30

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

2008-09-02T08:55:00.001+05:30

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

2008-09-02T08:51:00.002+05:30

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

2008-09-02T08:49:00.001+05:30

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

2008-09-02T08:39:00.001+05:30

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

2008-09-01T09:13:00.001+05:30

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

2008-09-01T09:09:00.001+05:30

: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/-.

Roto Pumps Secures Export Order

2008-08-30T08:55:00.001+05:30

Roto Pumps Ltd has informed the Indian Stock market that the Company have bagged a major Export Order valuing AUD 0.5 million (Rs 200/- lacs) from M/s. Blue Water for their Water Desalination Project in Sydney, Australia. M/s. Blue Water is a joint venture of John Holland Pty Ltd and Veolia Water Australia Ltd. The Company have bagged this order against stiff
International competition.

Allied Computers -stock split

2008-08-30T08:53:00.000+05:30

Allied Computers International (Asia) Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on August 27, 2008, has approved the Sub-division of 1 Equity Shares of Rs 10/- each into 10 Equity Shares of Rs 1/ each, subject to the approval of the Shareholders by the Postal Ballot.

Gemini Communication-Stock Split

2008-08-30T08:51:00.001+05:30

Gemini Communication Ltd has informed the Indian stock market that September 24, 2008 has been fixed as the Record Date for the purpose of sub division of equity shares from Rs 5/- (Five only) to Rs 1/- (One only).

Veer Energy - approves Bonus Issue

2008-08-30T08:50:00.000+05:30

Veer Energy & Infrastructure Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on August 29, 2008, has decided to issue Bonus Shares in the ratio of 14:10 (Every share holder holding 10 equity shares is getting 14 Bonus shares) subject to approval of members and the Extra Ordinary General Meeting and concern
authorities.

Further the Board has decided to convene an Extra Ordinary General Meeting of the members of the Company on September 20, 2008, to seek the consent of the Members on the above issue of Bonus shares.

Gloster Jute -Record Date for Bonus Issue

2008-08-30T08:48:00.000+05:30

Gloster Jute Mills Ltd has informed the Indian Stock market that October 01, 2008 has been fixed as the Record Date for the purpose of issue of Bonus shares in the ratio of 1:1.

L&T Record Date-1:1 Bonus Issue

2008-08-30T08:46:00.000+05:30

Larsen & Toubro (L&T) Ltd has informed the Indian stock market that October 03, 2008 has been fixed as the Record Date for the purpose of issue of Bonus shares in the ratio of 1:1 (i.e. one bonus share for every one share held).

Equity Market News-29th Aug 2008

2008-08-29T08:58:00.001+05:30

Wadias, Danone close to resolving dispute, French Co may give control once it receives its dividend - ET
Greater Noida Airport plans short down, Attorney General says new airport must wait till DAIL capacity is saturated - DNA
Cement prices fall in North by Rs 5-10/50kg bag as supply improves - ET
Jai Corp eyes gas distribution biz - ET
Petrobas eyes 2 OVL oil fields in Brazil - ET
Gitanjali pulls out of bid to buy US based retail chain Whitehall - ET
Deccan to be rebranded as Kingfishre Red - BS
Tata Steel global eyes $1bn PE deal, may offload 8-10% stake - Mint

Nectar Lifesciences - Stock Split

2008-08-29T08:56:00.001+05:30

Nectar Lifesciences Ltd has informed the stock market that the Board of Directors of the Company at its meeting held on August 28, 2008, has approved the stock split i.e. sub-division of every equity shares of face value of Rs 10/- each into 10 equity shares of face value of Re 1/- each and consequential changes in Memorandum of Articles of Associations of the Company.

To resolutions towards seeking approval of shareholders for the above purposes, would be proposed in the forthcoming Annual General Meeting scheduled to be held on September 29, 2008.

Hind Rectifiers Record Date- Bonus Issue

2008-08-29T08:54:00.001+05:30

Hind Rectifiers Ltd has informed the indian stock market- October 07, 2008 has been fixed as the Record Date for the purpose of issue of Bonus Shares in the ratio of 1:1 (one share of every one share held).

J Kumar Infraprojects secures order

2008-08-28T09:17:00.001+05:30

J Kumar Infraprojects Ltd has informed the Indian stock market that the Company have secured an Rs 62 Crore Pune Municipal Corp JNNURM Division No 2, Pune to Construct Brigde cum Flyover at Holker Bridge on Mula River in Pune City.

Following the above order the order book position of the Company, as on date, stands at about Rs 746.95 Crore.

GEI bags order worth Rs 40 Crore for Air Cooled Steam Condensers for Power Plant

2008-08-28T09:16:00.001+05:30

GEI Industrial Systems Ltd has informed the Indian stock market that the Company bags orders worth Rs 40 Crores for Air Cooled Steam Condensers for Power Plants, from KSK Group of Hyderabad, Dharani Sugars and Chemicals Ltd and OPG Power Generation Pvt. Ltd.

Thomas Cook - Rights Issue 2008

2008-08-28T09:14:00.000+05:30

Thomas Cook India Ltd has informed the Indian stock market that at the meeting of Board of Directors of the Company held on March 23, 2007, it was resolved to issue shares on a rights basis in the ratio of one equity share for every three equity shares held as on the Record Date. The proposed issue size of upto Rs 225 crores. Subsequently, pursuant to the meeting of the Board of Directors of the Company held on October 26, 2007, the Company had intimated to the stock markets that the proposed rights issue of the Company would be deferred till further notice.

The Board of Directors of the Company, vide a circular resolution dated August 26, 2008, have approved to raise funds not exceeding Rs 200 Crore by way of issue of equity shares to the existing equity shareholders of the Company on a "Rights" Basis. The rights ratio, price and other terms of the proposed issue would be decided at a later date. The earlier announced resolution, including the ratio of one equity share for every three equity share held as on the record date stands cancelled.

Equity Market News Today

2008-08-27T08:58:00.000+05:30

Tatas set 2-week deadline for Singur: ET
RIL may transfer 80% in KG D6 to four unlisted subsidiaries: ET
ONGC blocks Statoil move to treble stake in KG basin - BS
3G spectrum auction for CDMA players, means no automatic entry for RCOM into 3G arena: ET
PTC plans to buy stake in overseas mines, mulls coal imports: BS

Jamshri Ranjitsinghji Board approves Rights Issue

2008-08-27T08:56:00.000+05:30

Jamshri Ranjitsinghji Spinning & Weaving Mills Company Ltd has informed the Indian stock market that the Board of Directors of the Company at its meeting held on August 25, 2008, has approved the issue of Rights Shares to its shareholders in the ratio of 1:1 at par subject to the approval of the Statutory bodies and subject to the directions of B.I.F.R and compliance of all other applicable laws.

Apeego Board to consider Bonus Issue

2008-08-27T08:54:00.000+05:30

Apeego Ltd has informed the Indian stock market that a meeting of the Board of Directors of the Company will be held on September 04, 2008, to consider bonus issue to the equity shareholders of the Company.

Equity Market News Today

2008-08-26T09:38:00.000+05:30

Tatas set 2-week deadline for Singur: ET
RIL may transfer 80% in KG D6 to four unlisted subsidiaries: ET
ONGC blocks Statoil move to treble stake in KG basin - BS
PTC plans to buy stake in overseas mines, mulls coal imports: BS

Ram Informatics - Order from Department of Horticulture

2008-08-26T09:26:00.000+05:30

Ram Informatics Ltd has informed the indian stock market that the Company have received an order from Department of Horticulture, Government of Andhra Pradesh for development of Web Based Application Software for Hybrid Vegetable Seed Distribution System.

Take Solutions fixes Record Date for Stock Split

2008-08-26T09:25:00.000+05:30

Take Solutions Ltd has informed the Indian stock market that September 25, 2008 has been fixed as the Record Date for the purpose of sub-division of Equity Shares from the face value of Rs 10/- per share to Re 1 per share, which was earlier approved by the shareholders in the Annual general Meeting.