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| DS Kulkarni to hike FII limit to 49 pc MUMBAI, Mar 16: Housing construction company DS Kulkarni Developers Ltd today said it will hike the investment limit by the Foreign Institutional Investors (FII) in the company to 49 per cent.........more Ruchi Soya
allots 88.74 MUMBAI, Mar 16: Ruchi Soya Industries Ltd has allotted 88.74 lakh equity shares to its depository Deutsche Bank Trust Company Americas....more Aurobindo
gets NDA MUMBAI, Mar 16: Aurobindo Pharma Ltd today said it has received the first New Drug Approval (NDA) from USFDA for Lamivudine 150 mg, Zidovudine 300 mg fixed-dose tablets ..............more R-ADAG
open offer for MUMBAI, Mar 16: Anil Ambani's Reliance group (R-ADAG) will make an open offer from May 3 to May 22 to acquire 32.66 crore shares of Reliance Natural Resources Ltd for Rs 838 crore.......more |
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Patel Engineering sees opportunity in Hydel project execution MUMBAI, Mar 16: In the wake of Government policy of exploring the hydro electricity generation potential of the North-Eastern parts of the country, construction ........more IBP set to
post losses KOLKATA, Mar 16: Indian Oil Corporation subsidiary IBP & Co Limited, the standalone oil marketing PSU, is all set to post losses during the current financial ......more Kotak
Mahindra to buy MUMBAI, Mar 16: Kotak Mahindra Bank Ltd today said it will buy out the 25 per cent stake held by Goldman Sachs (Mauritius) LLC in two of its subsidiaries ...........more Sical to
raise 75 mn MUMBAI, Mar 16: Sical Logistics Limited today said it will raise 75 million dollars by way of Foreign Currency Convertible Bonds, Global Depository Receipts ..............more |
DS Kulkarni to hike FII limit to 49 pc MUMBAI, Mar 16: Housing construction company DS Kulkarni Developers Ltd today said it will hike the investment limit by the Foreign Institutional Investors (FII) in the company to 49 per cent. At a meeting held yesterday, the board recommended increasing the FII limit to 49 per cent from 24 per cent, subject to shareholders approval. The board has decided to convene an EGM on April 10, 2006 for taking a decision on the proposed FII limit hike, the company informed the Bombay Stock Exchange. (PTI) |
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Ruchi Soya allots 88.74 lakh shares MUMBAI, Mar 16: Ruchi Soya Industries Ltd has allotted 88.74 lakh equity shares to its depository Deutsche Bank Trust Company Americas. At the meeting held recently the board allotted the shares of Rs 10 each underlying Global Depository Receipts (GDRs) to Deutsche Bank, the food processing company informed the Bombay Stock Exchange. (PTI) |
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Aurobindo gets NDA approval from USFDA MUMBAI, Mar 16: Aurobindo Pharma Ltd today said it has received the first New Drug Approval (NDA) from USFDA for Lamivudine 150 mg, Zidovudine 300 mg fixed-dose tablets co-packed with Efavirenz 600 mg tablets. This is another tentative approval through USFDA's expedited review process and this NDA provides drugs for treatment of HIV-1 infection, the pharma company informed the Bombay Stock Exchange. The approval is the company's eleventh for the Anti Retro Viral segment. The company's Lamivudine/zidovudine fixed dose combination tablet are a version of Combivir tablets manufactured by Glaxosmithkline, and the Efavirenz tablets are a version of Sustiva tablets manufactured b ristol Myers-Squibb, it said. (PTI) |
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R-ADAG open offer for RNRL shares from May 3-22 MUMBAI, Mar 16: Anil Ambani's Reliance group (R-ADAG) will make an open offer from May 3 to May 22 to acquire 32.66 crore shares of Reliance Natural Resources Ltd for Rs 838 crore. The open offer would constitute 20 per cent of the expanded equity share capital of RNRL and is in accordance with SEBI norms, RNRL informed the stock exchanges. This follows a decision by the RNRL Board yesterday, which also approved a preferential offer of 41 crore equity shares to R-ADAG or long term financial investors to strengthen the company's capital base and financial position. As part of the preferential offer, R-ADAG will subscribe up to 41 crore shares for Rs 1,052 crore at a minimum price of Rs 25.65 per share. Post-allotment, the promoter holding will go up to 55 per cent from 40 per cent and RNRL's net worth will rise to Rs 1,660 crore from Rs 608 crore currently. RNRL is one of the four companies transferred to Anil after settlement with elder brother Mukesh Ambani. (PTI) |
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Patel Engineering sees
opportunity in Hydel MUMBAI, Mar 16: In the wake of Government policy of exploring the hydro electricity generation potential of the North-Eastern parts of the country, construction firm Patel Engineering is tapping the opportunity in execution of such upcoming projects in the region. City-based Patel Engineering, a civil-infrastructure company is presently engaged in construction of eight such projects across the country, which would generate more than 3,000 MW of electricity on their execution. The company is pursuing a Rs 240 crore project located on Himalyan river Teesta in Darjeeling district of West Bengal. The project involves constructing concrete barrage across the river and civil work for 132 MW power station to be developed at the project. State-run National Hydro-Electricity Power Corporation is presently developing many projects on Teesta river, known for flash floods during the non-monsoon season. Teesta, said to be the most destructive river after Brahmaputra in the region, provides a short working season of eight months, which lasts from October to May. "Most hydroelectric projects, located in remote hilly areas, require vast experience and expertise for execution. This is one of the key reason the sector provides high margins," said Patel Engineering Managing Director Rupen Patel. (PTI) |
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IBP set to post losses despite oil bonds KOLKATA, Mar 16: Indian Oil Corporation subsidiary IBP & Co Limited, the standalone oil marketing PSU, is all set to post losses during the current financial year despite the government issuing oil bonds amounting to Rs 400 crore to the company. A high-level IBP official told PTI that Rs 400 crore oil bonds had been given to the company on account of subsidy on LPG and kerosene. However, he said that the company was still suffering from under-recovery in diesel and motor spirit. Till December 2005, the company had posted accumulated losses to the tune of Rs 500 crore, the official said. Going by this trend, IBP is all set to post loss again in the last quarter, he added. According to the official, Rs 400 crore worth oil bonds would not be sufficient to offset the losses during the four quarters of 2005-06. IBP was certain to post losses in 2004-05. However, this could be averted as the government had paid past dues of the Oil Coordination Committee (OCC) to the company. The official said that
this would be the first time that IBP would be in the
red. (PTI) |
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Kotak Mahindra to buy out
Goldman Sachs' MUMBAI, Mar 16: Kotak Mahindra Bank Ltd today said it will buy out the 25 per cent stake held by Goldman Sachs (Mauritius) LLC in two of its subsidiaries for Rs 333 crore. With these purchases Kotak Mahindra group will wholly own both Kotak Mahindra Capital Company Ltd (KMCC) and Kotak Securities Ltd (KS), the bank informed the Bombay Stock Exchange. The consideration for the 25 per cent stake in KS is Rs 123 crore and the consideration for the 25 per cent stake in KMCC is Rs 210 crore, it said. The strategic alliance between Kotak Bank and Goldman Sachs had terminated and they entered into a business co-operation agreement for a period of up to one year. The transaction will be completed after the receipt of necessary regulatory-approvals, it said. Amarchand & Mangaldas and Suresh A Shroff & Co acted as legal advisors for the Bank on the transaction, it added. (PTI) |
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Sical to raise 75 mn dollars via FCCBs MUMBAI, Mar 16: Sical Logistics Limited today said it will raise 75 million dollars by way of Foreign Currency Convertible Bonds, Global Depository Receipts or other issues. The company had entered into a subscription agreement with Deutsche Bank for 75 million dollars Foreign Currency Convertible Bonds (FCCB), it informed the Bombay Stock Exchange. The FCCBs will have a maturity of five years and the conversion price would be Rs 563.55, which is at a premium of 30 per cent over the previous closing price of Rs.433.50 on BSE on March 14, 2006. The FCCBs will be listed
on the Singapore Exchanges Securities Trading Ltd, it
added. (PTI) |
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Commodities remain flat in thin trade NEW DELHI, Mar 16: There was not much activity in the wholesale pulses market today with most of commodities after moving in a tight range on some deals, settled around previous closing. Arrivals and offtake too remained at a low ebb and volume of business poor. Traders said negligible enquiries from stockists and neighbouring states mainly kept prices unchanged. Following were today's quotations (in quintal): Urad M.P.2675-2775, Maharashtra 3275-3315, Rangoon 3220-3245, Urad chilka (local) 3650-3850, best 3950-4150, dhoya local 3850-4050, best 4250-4800, Moong Maharastra 2655-2800, Moong (old) 2025-2250, UP\Bihar 2000-2025, Rajasthan 3000-3300, dal moong chilka 3500-3600, best 3700-4000, moong dhoya local 3850-3950, best quality 4000-4200, masoor small 1880-1980, bold 1630-1705, dal masoor local 1900-2100, best quality 2000-2200, Malka local 1900-2000, best 2200-2250, Moth 2625-2675, Moth dagi 2675-2700, best 2650-2700, dal moth 3100-3250, Arhar Maharashtra 1850-1900, (Karnataka) 1825-1850, Rangoon 1890-1900, dal arhar dara 2600-2700 and patka 2850-2950. Gram 1885-1895, gram dal (local) 2180-2240, best quality 2240-2300, besin (35 kg) shakti bhog 960, rajdhani 960, Rajmah chitra pune 2700-3250, China 2950-3050, red 2325-2350, kabli gram small 2350-2500, dabra 2700-2900, imported 3000-3200, lobia white 2650-2850, peas white 1300-1325 and green 1500-1550. (PTI) |
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Saksoft ties up with Atos Origin to offer BIS to Asia Pacific MUMBAI, Mar 16: Chennai-based software solutions provider, Saksoft Ltd today said it has signed a Memorandum of Understanding (MOU) with Atos Origin to jointly market and implement a business intelligence solution (BIS) in Asia Pacific region. The MoU would entail joint marketing of 'Veri-sens' the BIS solution of the company to retail banks in Malaysia, Thailand and Philippines, Saksoft informed the Bombay Stock Exchange. "We are very excited about this partnership as it enables us to offer our business intelligence solution to a far broader market, given the Atos Origin's existing business relationships with leading Asian banks and credit card issuers," Saksoft Managing Director Aditya Krishna said. (PTI) |
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Sugar price dips on ample supply NEW DELHI, Mar 16: Select sugar millgate prices receded on the wholesale sugar market today on sluggish demand amidst ample supply and closed lower. Marketmen said sufficient stocks against sluggish demand and increased selling by millers mainly led to fall in select sugar mill gate prices. In the millgate section, Modi Nagar, Daurala, Chandpur, Titabi and Mawana were settled lower at Rs 1870, Rs 1865, Rs 1805, Rs 1870 and Rs 1870 per quintal respectively. Following were today's quotations in rupees per quintal. Sugar ready M-30 1970-2010 and S-30 1950-1990. Mill delivery M-30 1810-1900 and S-30 1800-1890. Sugar mill gate prices (excluded duty): Modi Nagar 1870, Bagpat 1840, Daurala 1865, Chandpur 1805, Titabi 1870, Mawana 1870, Simbhawali 1870, Khatauli 1875, Badaiu 1810, Sattha 1840, Ruderavilash 1810 Bijnor 1820 and Amroha 1815 and samali Rs 1860 and dutypaid Samali 2018.00. (PTI) |
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Toyota Kirloskar and ICICI Bank
launch NEW DELHI, Mar 16: Toyota Kirloskar Motor in association with ICICI Bank today launched the country's first automobile credit card offering a host of special benefits to its customers. "This will be another value addition for our customers in our efforts to boost sales and retain existing customers," Toyota Kirloskar Motors deputy managing director K K Swamy said here at the launch of the card. Toyota ICICI Bank credit card will offer benefits on all aspects of motoring to customers who purchase a new Toyota vehicle, he said. ICICI Bank Ltd executive director Chanda Kochhar said the tie-up is a part of the bank's initiative to further consolidate its market position. "We have the leading position in housing and automobile finance. Our share is 35 per cent in credit cards market, and 33 per cent in total credit cards spend. The new partnership with Toyota will further strengthen our position," she said. The benefits offered by the card include, 5 per cent discount on standard Toyota accessories purchase; multiplier reward scheme -- which provides customers the option to multiply existing reward points by ten times and use it for downpayment of a new Toyota car purchase; and also the option to convert downpayment to equated monthly installments, among others. (UNI) |
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