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Tuesday, February 22, 2011
Govindji Trikamdas Exports Ltd: Outcome of Board Meeting
Govindji Trikamdas Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 14, 2011, has accepted the resignation of Vijaykumar Govindji Manek, Ajay Vijaykumar Manek, Dhirajlal Chhaganbhai Patel form the board of the Company and approved the appointment of Mr. Lokanath Mishra as an Executive Director.
Kunststoffe Industries Ltd: Change of Registered Office of the Company
Kunststoffe Industries Ltd has informed BSE that the Company's registered office has been shifted from C/O P. Sheth & Co., (Chartered Accountants) 17, Parekh Vora Chambers, 66 Nagindas Master Road, Fort, Mumbai-400 023 to Kiran Building, 128, Bhaudaji Road, Matunga, Mumbai - 400019 w.e.f. February 01, 2011.
Tulip Telecom Ltd: Disclosures under Reg. 8A of SEBI (SAST) Regulations, 1997
Tulip Telecom Ltd has submitted the disclosure under Regulation 8A of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 to BSE
Date of Reporting : February 22, 2011
Name of the Company : Tulip Telecom Ltd
Total no of outstanding shares of the Company : 14,50,00,000
Name of the Entity : Cedar Infonet (P) Ltd
Details of Transaction
Date of Transaction : February 03, 2011
Number of Shares Pledged : 4,00,000
Aggregate details after the transaction
Total no of shares held by the entity in the Company : 4,79,08,750
Total No of shares pledged : 1,52,75,000*
% of total shares pledged to total no of shares held by the entity in the Company : 31.88%
% of shares pledged to total no of outstanding shares of the Company : 10.53%
*Total No of shares Pledged also include the shares Pledged by M/s Sukhmani Technologies (P) Ltd. pursuant to the scheme of arrangement among M/s Cedar Infonet (P) Ltd., M/s Sukhmani Technologies (P) Ltd. and M/s Encore Technologies (P) Ltd.Read More
Date of Reporting : February 22, 2011
Name of the Company : Tulip Telecom Ltd
Total no of outstanding shares of the Company : 14,50,00,000
Name of the Entity : Cedar Infonet (P) Ltd
Details of Transaction
Date of Transaction : February 03, 2011
Number of Shares Pledged : 4,00,000
Aggregate details after the transaction
Total no of shares held by the entity in the Company : 4,79,08,750
Total No of shares pledged : 1,52,75,000*
% of total shares pledged to total no of shares held by the entity in the Company : 31.88%
% of shares pledged to total no of outstanding shares of the Company : 10.53%
*Total No of shares Pledged also include the shares Pledged by M/s Sukhmani Technologies (P) Ltd. pursuant to the scheme of arrangement among M/s Cedar Infonet (P) Ltd., M/s Sukhmani Technologies (P) Ltd. and M/s Encore Technologies (P) Ltd.Read More
SCIL Ventures Ltd: Revised disclosures under Reg. 3(3) of SEBI (SAST) Regulations, 1997
Securities Analysis (India) Pvt Ltd has submitted the revised disclosure under Regulation 3(3) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 to BSE:Read More
Hatsun Agro Product Ltd: Limited Review for the quarter ended Dec 31, 2010
Hatsun Agro Product Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Sai Wires India Ltd: Open Offer
Birla Capital & Financial Services Ltd ("Manager to the Offer"), on behalf of Mr. K Sudheer Rao, Mr. S S R K Mohan Babu and Mr. P Pavan Kumar ("Acquirers") has issued this Public Announcement ("PA") to the equity shareholders of Croitre Industries Ltd (formerly known as Sai Wires India Ltd) ("Target Company"), pursuant to and in compliance with Regulation 10 and Regulation 12 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations" or "Takeover Regulations").
The Offer:
The Acquires are hereby making this Offer to the equity shareholders of the Target Company (other than the parties to the SPA) to acquire up to 12,61,278 (Twelve Lakhs Sixty One thousand Two hundred and Seventy Eight only) Equity Shares of INR 10.00 each of the Target Company representing in aggregate 20% of the paid-up equity share capital and voting capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations at a price of INR 0.25 (Indian Paisa Twenty Five Only) per fully paid-up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned in this PA and in the Letter of Offer in accordance with the SEBI (SAST) Regulations.
Schedule of Activities:
Specified Date - March 07, 2011
Date of Opening of the Offer - April 15, 2011
Date of Closing of the Offer - May 05, 2011Read More
The Offer:
The Acquires are hereby making this Offer to the equity shareholders of the Target Company (other than the parties to the SPA) to acquire up to 12,61,278 (Twelve Lakhs Sixty One thousand Two hundred and Seventy Eight only) Equity Shares of INR 10.00 each of the Target Company representing in aggregate 20% of the paid-up equity share capital and voting capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations at a price of INR 0.25 (Indian Paisa Twenty Five Only) per fully paid-up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned in this PA and in the Letter of Offer in accordance with the SEBI (SAST) Regulations.
Schedule of Activities:
Specified Date - March 07, 2011
Date of Opening of the Offer - April 15, 2011
Date of Closing of the Offer - May 05, 2011Read More
Lancor Holdings Ltd: Disclosures under Reg.13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992
Lancor Holdings Ltd has submitted the disclosure under Regulation 13(6) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 to BSE:Read More
Almondz Capital & Management Services Ltd: Result of Postal Ballot
Almondz Capital & Management Services Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have passed the following resolutions, with requisite majority:
1. Increasing the Authorised Share Capital of the Company.
2. Alteration in the Capital Clause of Memorandum of Association of the Company.
3. Alteration in Share Capital Clause of Articles of Association of the Company.Read More
1. Increasing the Authorised Share Capital of the Company.
2. Alteration in the Capital Clause of Memorandum of Association of the Company.
3. Alteration in Share Capital Clause of Articles of Association of the Company.Read More
Sical Logistics Ltd: EGM on Mar 11, 2011
Sical Logistics Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on March 11, 2011.Read More
Softbpo Global Services Ltd: Limited Review for the quarter ended Dec 31, 2010
Softbpo Global Services Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Remsons Industries Ltd: Updates on Company's Expansion Plan
Remsons Industries Ltd has informed BSE that in continuation of the expansion plans of the Company, a new Daman Unit at Survey No. 647/1-A has become operational.
Earlier, additional facilities were created by carrying out modifications and renovation at other plants of the Company at Daman (Plot No. A2/3-4 and Plot No. A/27), which would certainly increase the production capacity.
Earlier, additional facilities were created by carrying out modifications and renovation at other plants of the Company at Daman (Plot No. A2/3-4 and Plot No. A/27), which would certainly increase the production capacity.
Sandu Pharmaceuticals Ltd: Purchase of Shares
Sandu Pharmaceuticals Ltd has informed BSE that the Company have received an intimation from
SANMARK REALTY AND FINANCE PVT. LTD. stating that they have Acquired / purchased 400 shares of the Company and the details of the same ale as under :-
Date of Purchase: February 18, 2011
- No. of Shares: 400
The Company have confirmed from its record that SANMARK REALTY AND FINANCE PVT. LTD purchased 400 Equity Shares in the Company.
SANMARK REALTY AND FINANCE PVT. LTD. stating that they have Acquired / purchased 400 shares of the Company and the details of the same ale as under :-
Date of Purchase: February 18, 2011
- No. of Shares: 400
The Company have confirmed from its record that SANMARK REALTY AND FINANCE PVT. LTD purchased 400 Equity Shares in the Company.
State Bank of India: Appointment of Director
State Bank of India has informed BSE that in exercise of the powers conferred by clause (e) of Section 19 of the State Bank of India Act, 1955 (23 of 1955), the Central Government has nominated Shri Shashi Kant Sharma Secretary, Department of Financial Services, Ministry of Finance, a Director on the Central Board of Directors of State Bank of India from the date of notification, and until further orders vice Shri Ashok Chawla.
Scope Industries (India) Ltd: EGM on Mar 02, 2011
Scope Industries (India) Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on March 02, 2011.Read More
Omnitech InfoSolutions Ltd: Limited Review for the quarter ended Dec 31, 2010
Omnitech InfoSolutions Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Rasoya Proteins Ltd: Outcome of Board Meeting
Rasoya Proteins Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 22, 2011, inter alia, has transacted the following:
1. Opening of GDR issues on February 23, 2011.
2. Minimum floor price as per SEBI and FEMA regulations Rs. 70/- equivalent to Rs. 1,400 per GDR (20 shares is equal to 1 GDR).
3. Issue price for each GDR USD 30.63.
1. Opening of GDR issues on February 23, 2011.
2. Minimum floor price as per SEBI and FEMA regulations Rs. 70/- equivalent to Rs. 1,400 per GDR (20 shares is equal to 1 GDR).
3. Issue price for each GDR USD 30.63.
Fame India Ltd: Limited Review for the quarter ended Dec 31, 2010
Fame India Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Scope Industries (India) Ltd: Notice of Postal Ballot
Scope Industries (India) Ltd has informed BSE that the members of the Company will consider to approve the resolutions, by way of Postal Ballot.Read More
Usher Agro Ltd: Disclosures under Reg. 7(1) of SEBI (SAST) Regulations, 1997
AIWO Ltd has submitted the disclosure under Regulation 7(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 to BSERead More
HDFC Mutual Fund - HDFC Gold Exchange Traded Fund: Declaration of NAV
HDFC Mutual Fund - HDFC Gold Exchange Traded Fund has informed BSE regarding NAVRead More
Shree Salasar Investments Ltd: Outcome of Board Meeting
Shree Salasar Investments Ltd has informed BSE that the Board of Directors of the Company at its Meeting held on February 19, 2011, decided to shift the registered office of the Company at the below mentioned address:
15/118, Anand Nagar, Om CHS Ltd., Next to Vakola Police Station, Santacruz (E), Mumbai - 400 055.
15/118, Anand Nagar, Om CHS Ltd., Next to Vakola Police Station, Santacruz (E), Mumbai - 400 055.
Alumeco India Extrusion Ltd: Limited Review for the quarter ended Dec 31, 2010
Alumeco India Extrusion Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Binani Industries Ltd: Updates on Delisting Offer to the shareholders of Binani Cement
Keynote Corporate Services Ltd ("Manager to the Offer") on behalf of Binani Industries Ltd ("Promoter or "Acquirer"), has issued this Post Offer Public Announcement ("Post Offer Public Announcement") in compliance with Regulation 18 of the Securities & Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 ("Delisting Regulations") to the Equity Shareholders of Binani Cement Ltd ("BCL "or "Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated January 17, 2011 published on January 19, 2011 ("Offer Letter"), in respect of the offer made for the proposed acquisition and delisting of the fully paid-up equity shares of the Company in accordance with provisions of Delisting Regulations ("Delisting offer" / "Offer").
The Promoter/ Acquirer issued the PA to the Public Shareholders of the Company to acquire all outstanding equity shares currently held by Public Shareholders being 5,67,75,318 equity shares of Rs. 10/- each representing 30.10 % of the Company's equity share capital, in accordance with the provisions of Delisting Regulations and on the terms and subject to the conditions set out therein and in the PA and the Offer Letter. The Public Shareholders holding equity shares of the Company were invited to submit bids through the Reverse Book Building ("RBB") process on the electronic system of the Bombay Stock Exchange Ltd ("BSE"), in accordance with the Delisting Regulations. The Offer opened on February 07, 2011 and closed on February 11, 2011 ("Bid Period"). The Promoter/Acquirer herein announce the result of the Delisting Offer.
Discovered Price & Success of the Offer:
In terms of Regulation 15(1) of the Delisting Regulations, the discovered price (i.e. the price at which maximum number of equity shares were tendered by the Public Shareholders) determined through the RBB process using the electronic facility of BSE, in accordance with the Delisting Regulations is Rs. 90/- (Rupees Ninety only) per equity share. Further, adequate shares have been tendered at or below the discovered price such that if the Promoter/Acquirer was to accept the discovered price and acquire the equity shares so tendered, the shareholding of the Promoter/Acquirer would exceed 90% of the total paid up equity share capital of the Company. The Offer is thus deemed successful in accordance with Regulation 17 of the Delisting Regulations.
Acceptance of Final Price & Delisting:
The Promoter/ Acquirer has accepted the discovered price of Rs. 90/- per share ("Exit Price") and shall accept all the bids tendered at or below the Exit Price and the equity shareholders of the Company who have validly tendered their equity shares at or below the Exit Price will be paid the consideration of Rs. 90/- per equity share.
Outstanding Equity Shares after Delisting:
In accordance with the provisions of Regulation 21 of the Delisting Regulations, all Public Shareholders of the Company who did not or were not able to participate in the RBB process or who unsuccessfully tendered their equity shares in the RBB process, will be able to offer their Shares to the Promoter/Acquirer at the Exit Price during the period of one year following the date of delisting of equity shares of the Company from the Stock Exchanges.
All other terms and conditions of the Offer as set forth in the PA and the Offer Letter remain unchanged.Read More
The Promoter/ Acquirer issued the PA to the Public Shareholders of the Company to acquire all outstanding equity shares currently held by Public Shareholders being 5,67,75,318 equity shares of Rs. 10/- each representing 30.10 % of the Company's equity share capital, in accordance with the provisions of Delisting Regulations and on the terms and subject to the conditions set out therein and in the PA and the Offer Letter. The Public Shareholders holding equity shares of the Company were invited to submit bids through the Reverse Book Building ("RBB") process on the electronic system of the Bombay Stock Exchange Ltd ("BSE"), in accordance with the Delisting Regulations. The Offer opened on February 07, 2011 and closed on February 11, 2011 ("Bid Period"). The Promoter/Acquirer herein announce the result of the Delisting Offer.
Discovered Price & Success of the Offer:
In terms of Regulation 15(1) of the Delisting Regulations, the discovered price (i.e. the price at which maximum number of equity shares were tendered by the Public Shareholders) determined through the RBB process using the electronic facility of BSE, in accordance with the Delisting Regulations is Rs. 90/- (Rupees Ninety only) per equity share. Further, adequate shares have been tendered at or below the discovered price such that if the Promoter/Acquirer was to accept the discovered price and acquire the equity shares so tendered, the shareholding of the Promoter/Acquirer would exceed 90% of the total paid up equity share capital of the Company. The Offer is thus deemed successful in accordance with Regulation 17 of the Delisting Regulations.
Acceptance of Final Price & Delisting:
The Promoter/ Acquirer has accepted the discovered price of Rs. 90/- per share ("Exit Price") and shall accept all the bids tendered at or below the Exit Price and the equity shareholders of the Company who have validly tendered their equity shares at or below the Exit Price will be paid the consideration of Rs. 90/- per equity share.
Outstanding Equity Shares after Delisting:
In accordance with the provisions of Regulation 21 of the Delisting Regulations, all Public Shareholders of the Company who did not or were not able to participate in the RBB process or who unsuccessfully tendered their equity shares in the RBB process, will be able to offer their Shares to the Promoter/Acquirer at the Exit Price during the period of one year following the date of delisting of equity shares of the Company from the Stock Exchanges.
All other terms and conditions of the Offer as set forth in the PA and the Offer Letter remain unchanged.Read More
Jeypore Sugar Company Ltd: Limited Review for the quarter ended Dec 31, 2010
Jeypore Sugar Company Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Global Vectra Helicorp Ltd: Limited Review for the quarter ended Dec 31, 2010
Global Vectra Helicorp Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Blue Bird (India) Ltd: Outcome of Board Meeting
Blue Bird (India) Ltd has informed BSE that meeting of the Board of Directors of the Company which was adjourned from February 14, 2011 to February 22, 2011 was duly held and conducted.
The Board of Directors could not finalize the name of the Chartered Accountants to be appointed as the statutory auditors of the Company, since the Management is in negotiations with the firm of Chartered accountants for their terms of appointment as the Auditors of the Company.
Once the negotiations are finalized the company will call for meeting of Board of Directors of the Company for proposing the appointment of the auditors to the members of the Company. The said date of the meeting of the board of directors when finalized will be intimated accordingly.
The Board of Directors could not finalize the name of the Chartered Accountants to be appointed as the statutory auditors of the Company, since the Management is in negotiations with the firm of Chartered accountants for their terms of appointment as the Auditors of the Company.
Once the negotiations are finalized the company will call for meeting of Board of Directors of the Company for proposing the appointment of the auditors to the members of the Company. The said date of the meeting of the board of directors when finalized will be intimated accordingly.
Liberty Phosphate Ltd: Limited Review for the quarter ended Dec 31, 2010
Liberty Phosphate Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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VA Tech Wabag Ltd: Limited Review for the quarter ended Dec 31, 2010
VA Tech Wabag Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Siel Financial Services Ltd: Limited Review for the quarter ended Dec 31, 2010
Siel Financial Services Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.Read More
Borax Morarji Ltd: Limited Review for the quarter ended Dec 31, 2010
Borax Morarji Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Gufic Biosciences Ltd: Limited Review for the quarter ended Dec 31, 2010
Gufic Biosciences Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Adhunik Metaliks Ltd: Limited Review for the quarter ended Dec 31, 2010
Adhunik Metaliks Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.Read More
Abhishek Industries Ltd: Limited Review for the quarter ended Dec 31, 2010
Abhishek Industries Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Kaiser Press Ltd: Limited Review for the quarter ended Dec 31, 2010
Kaiser Press Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Thacker & Company Ltd: Limited Review for the quarter ended Dec 31, 2010
Thacker & Company Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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ATV Projects India Ltd: Limited Review for the quarter ended Dec 31, 2010
ATV Projects India Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Geodesic Ltd: Limited Review for the quarter ended Dec 31, 2010
Geodesic Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Jindal Photo Ltd: Limited Review for the quarter ended Dec 31, 2010
Jindal Photo Ltd has informed BSE that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2010.
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Supreme Holdings Ltd: Equity Shareholders to approve Scheme of Amalgamation
Supreme Holdings Ltd has informed BSE that pursuant to the Order dated February 04, 2011 of the Hon'ble
Bombay High Court, a Meeting of the equity shareholders the Company will be held on March 22, 2011, for the purpose of considering, and if thought fit, approving with or without modifications, the Scheme of
Amalgamation which inter-alia embodies the amalgamation of Jatia Hotels & Resorts Private Limited, the First Transferor Company and Royalways Trading & Investment Services Private Limited, the Second Transferor Company with Supreme Holdings Limited, the Applicant/Transferee Company.Read More
Bombay High Court, a Meeting of the equity shareholders the Company will be held on March 22, 2011, for the purpose of considering, and if thought fit, approving with or without modifications, the Scheme of
Amalgamation which inter-alia embodies the amalgamation of Jatia Hotels & Resorts Private Limited, the First Transferor Company and Royalways Trading & Investment Services Private Limited, the Second Transferor Company with Supreme Holdings Limited, the Applicant/Transferee Company.Read More
Mahindra & Mahindra Financial Services Ltd: Mahindra Finance QIP oversubscribed by almost 4 times
Mahindra & Mahindra Financial Services Ltd has informed BSE regarding a Press Release dated February 22, 2011 titled "Mahindra Finance QIP oversubscribed by almost 4 times."Read More
Saya Housing Finance Company Ltd: EGM on Mar 07, 2011
Saya Housing Finance Company Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on March 07, 2011.Read More
IVRCL Assets & Holdings Ltd: Disclosures under Reg.13(4) of SEBI (Prohibition of Insider Trading) Regulations, 1992
E Sudhir Reddy has submitted the disclosure under Regulation 13(4) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 to BSERead More
Mahindra & Mahindra Financial Services Ltd: Outcome of Qualified Institutions Placement Committee Meeting
Mahindra & Mahindra Financial Services Ltd has informed BSE that the Qualified Institutions Placement Committee at its Meeting held February 22, 2011, has allotted 61,33,205 (Sixty-one Lakhs Thirty-three Thousand Two Hundred and Five) Equity Shares of Rs. 10 each at a price of Rs. 695/- (Rupees Six Hundred and Ninety-five) per Equity Share aggregating to Rs. 4,26,25,77,475 (Rupees Four Hundred Twenty-six crores Twenty-five lakhs Seventy-seven Thousand Four Hundred and Seventy-five) to Qualified Institutional Buyers under the Qualified Institutions Placement.Read More
GTL Ltd: Result of Postal Ballot
GTL Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have passed the following resolutions, with requisite majority:
1. Special Resolution under Section 17 of the Companies Act, 1956, for inserting new sub-clause 1(d) immediately after the existing sub-clause 1(c) under clause III A of the Memorandum of Association of the Company.
2. Special Resolution under Section 149(2A) of the Companies Act, 1956, for commencing business stated in Object Clause No.103 under the heading 'Other Object' of the Memorandum of Association of the Company.
3. Ordinary Resolution under Section 293(1)(e) of the Companies Act, 1956, empowering the Board for making contribution to GTL Foundation / GTL Employee Welfare Trust.Read More
1. Special Resolution under Section 17 of the Companies Act, 1956, for inserting new sub-clause 1(d) immediately after the existing sub-clause 1(c) under clause III A of the Memorandum of Association of the Company.
2. Special Resolution under Section 149(2A) of the Companies Act, 1956, for commencing business stated in Object Clause No.103 under the heading 'Other Object' of the Memorandum of Association of the Company.
3. Ordinary Resolution under Section 293(1)(e) of the Companies Act, 1956, empowering the Board for making contribution to GTL Foundation / GTL Employee Welfare Trust.Read More
Kadamb Constructions Ltd: Outcome of Board meeting
Kadamb Constructions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 22, 2011, inter alia, has approved the following:
1. Issue of 20,00,000 (Twenty lacs Only) Equity Shares of Rs. 2/- each of the Company to the strategic investors at a price of Rs. 67/- per share [ Rs. 2/- + Rs 65/- (Premium)] on a preferential basis.
2. The date of Extra ordinary General Meeting has been fixed on March 25, 2011 at which the above matters shall be proposed for the approval of members.
1. Issue of 20,00,000 (Twenty lacs Only) Equity Shares of Rs. 2/- each of the Company to the strategic investors at a price of Rs. 67/- per share [ Rs. 2/- + Rs 65/- (Premium)] on a preferential basis.
2. The date of Extra ordinary General Meeting has been fixed on March 25, 2011 at which the above matters shall be proposed for the approval of members.
Syncom Formulations India Ltd: Board Meeting on Feb 25, 2011
Syncom Formulations India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 25, 2011, inter alia, to consider and approve allotment of Equity Shares of Rs 10/- each at a premium of Rs 18/- per share to the warrant holders who have opted for conversion of their warrants into Equity Shares which were allotted on June 30, 2010.
Lancor Holdings Ltd: Disclosures under Reg. 7(3) of SEBI (SAST) Regulations, 1997
Lancor Holdings Ltd has submitted the disclosure under Regulation 7(3) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 to BSE:Read More
Religare Mutual Fund - Religare Gold Exchange Traded Fund: Declaration of NAV
Religare Mutual Fund - Religare Gold Exchange Traded Fund has informed BSE regarding Net Asset Value (NAV) of Religare FMPs & ETFs.Read More
Tricom India Ltd: Outcome of Board Meeting
Tricom India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 22, 2011, inter alia, has allotted 60,45,000 Fully Convertible Debentures (FCD) of Rs. 20/- each on Preferential basis.
Each FCD shall be convertible into 1 (one) Equity Share of Rs. 2/- each fully paid up at a price of Rs. 20/- each, which includes a premium of Rs.18/- per share, within a period of 18 months from the date of allotment at the option of the Company. FCD shall carry a simple rate of interest of 15% per annum till the date of conversion.
Each FCD shall be convertible into 1 (one) Equity Share of Rs. 2/- each fully paid up at a price of Rs. 20/- each, which includes a premium of Rs.18/- per share, within a period of 18 months from the date of allotment at the option of the Company. FCD shall carry a simple rate of interest of 15% per annum till the date of conversion.
Sun Pharmaceutical Industries Ltd: Proposed Going Private transaction for Sun Pharma's US Subsidiary, Caraco Pharma
Sun Pharmaceutical Industries Ltd has informed BSE that in the process of completing the previously announced going private transaction for Caraco Pharmaceutical Laboratories Ltd (Caraco), a US subsidiary of Sun Pharmaceutical Industries Ltd (Sun Pharma), Sun Pharma, Sun Pharma Global (Sun Global, a wholly owned subsidiary of Sun Pharma) a newly-formed, wholly-owned subsidiary of Sun Pharma incorporated in Michigan entered into a merger agreement with Caraco on February 21, 2011. The above referred merger agreement provides that all shareholders of Caraco other than Sun Pharma and Sun Global will receive a cash payment of $5.25 per share upon the closing of the transaction which is subject to certain terms and conditions customary for transactions of this type, including receipt of approval by the holders of a majority of Caraco's outstanding common stock at a special meeting of stockholders.
Company Report: Reliance Industries – ‘A great match’ – BUY
Reliance Industries – ‘A great match’ – BUY
CMP Rs957, Target Rs1,175, Upside 22.8%
Reliance Industries Ltd (RIL) and BP announced a major deal for E&P and gas marketing businesses. The highlights of the deal are as follows:
± BP will take a 30% stake in 23 oil and gas production sharing contracts that RIL operates in India , including the producing KG D6 block
± A 50:50 joint venture will be formed between the two companies for the sourcing and marketing of gas in India
± BP will pay RIL an aggregate consideration of US$7.2bn for the interests to be acquired in the 23 production sharing contracts.
Implications for RIL
± Deepwater technology expertise of BP to help RIL
± Lower interest outgo to offset lower profits from E&P EBIT from FY12
± Cash-flows to be strong for FY12
± Funds to be utilized for investments in other avenues such as power, telecom, shale gas etc
± Deal values RIL’s 23 blocks at US$24bn
Maintain BUY with a target price of Rs1,175
Warm Regards,
India Infoline Research Team
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