Strides Arcolab Ltd has informed that the Company has allotted 40,00,000 fully paid equity shares of Rs 10/- each at a price of Rs 400/- per share, against conversion of equivalent number of Fully Convertible Debentures, to Dobliss Holdings Ltd (31,11,440) shares and Bilssup Holdings Ltd (8,88,560 shares).
Consequent to the allotment, the paid up equity share capital of the Company has increased from Rs 35,00,42,890 consisting of 35,004,289 equity shares of Rs 10/- each to Rs 39,00,42,890 consisting of 3,90,04,289 equity shares of Rs 10/- each.
Automotive Stampings - Result of Postal Ballot
Automotive Stampings & Assemblies Ltd has informed that the members of the Company by way of Postal Ballot, have passed the resolution relating to increase of Authorised Share capital of the Company from Rs 26,80,00,000 (Rupees Twenty Six Crores Eighty Lakhs) to Rs 36,00,00,000 (Rupees Thirty Six Crores) by creation of 92,00,000 (Ninety Two Lakhs) Equity Shares of Rs 10 (Rupees Ten) each & consequential amendment in the Memorandum of Association of the Company, with requisite majority.
Mahindra & Mahindra Financial Services Ltd - Allotment of equity shares on preferential basis
Announcement Mahindra & Mahindra Financial Services Limited has informed that: "The Company has allotted 70,00,000 Equity Shares of Rs.10 each to TPG - Axon (Mauritius) II Limited and 39,00,000 Equity Shares of Rs.10 each to Standard Chartered Private Equity (Mauritius) Limited on 28th February, 2008, on a Preferential Allotment basis. Pursuant to this Preferential Allotment, the paid-up share capital of the Company stands increased from 86,000,525 Equity Shares to 96,900,525 Equity Shares. As a consequence of the increase in the paid-up capital of the Company, the percentage shareholding of the Promoters, Mahindra & Mahindra Limited stands reduced from 67.72% to 60.10%".
Heritage Foods - Outcome of Board Meeting
Heritage Foods India Ltd has informed that the Board of Directors of the Company at its meeting held on March 07, 2008, inter alia, have taken the decision to authorize the Management Committee of the Board of Directors of the Company to identify the party(ies), finalize, settle & transfer 20,40,000 equity shares of Heritage Infra Developers Ltd (Subsidiary company of Heritage Foods (India) Ltd) of face value of Rs 10/- each at a best price and execute such documents / deeds / papers / agreement as may be required to finalize and settle the transaction.
3i Infotech - Allotment of equity shares under ESOS
3i Infotech Ltd has informed that the Company has allotted 140 equity shares on March 10, 2008, to the applicants under Employee Stock Option Scheme, 2000 (ESOS).
SRF fixes Record Date for interim dividend
SRF Ltd has informed that March 21, 2008 has been fixed as the Record Date for the purpose of payment of interim dividend, if declared.
ACC - Divestment of ACC Machinery Company Ltd (AMCL)
ACC Ltd has informed that the Company on March 11, 2008 has divested its wholly owned Subsidiary ACC Machinery Company Ltd (AMCL) to HNG Group for a consideration of Rs 45 crores.
The turnover and profits of the Company for the year ended December 31, 2007 is given below:
- Sale of Products and other Income : Rs 63.24 Crores - Profit Before Tax : Rs 15.00 Crores - Profit after Tax : Rs 9.75 Crores - Dividend : Rs 190/- per share aggregating Rs 760 Lakhs.
ICI India Ltd - Daily Buy-Back of equity shares
ICICI Securities Limited has informed the regarding the Daily Report of Buyback of ICI India Limited equity shares, the details of which are as follows:
(a) Name of the Broker: ICICI Brokerage Services Ltd; (b) Date of buyback: March 10, 2008; (c) No. of equity shares bought back on BSE: 1164; (d) No. of equity shares bought back on NSE: 15; (e) Total no. of equity shares bought back: 1179; (f) Average Price of Acquisition (Rs.): 517.6066; (g) Cumulative Equity Shares bought as on March 07, 2008: 2,486,267 (h) Quantity Closed Out on March 10, 2008 - Nil; (i) Quantity Closed out as on March 07, 2008 - Nil; (j) Total Quantity Closed Out - Nil; (k) Total Equity Shares bought back as on March 10, 2008: 2,487,446.
HDFC may list key subsidiaries
HDFC Standard Life is worth Rs 3000 crore, of which HDFC owns 76 per cent and even as chairman of HDFC, Deepak Parekh, looks to offload further to its partners, an initial public offering (IPO) is clearly on cards. They plan to list HDFC's asset management business by end of this year or first quarter next year and the life insurance company a few months after that,said Parekh. On the Asset Management Company (AMC) front, HDFC's owns 63 per cent business in a company worth Rs 4,000 crore, with Standard Investments holding the rest. As long as you leave something on the table which we always do, investors would want a quality product at any time.
Going by the valuations, AMC stake sales have showed recently Parekh's company too may have a good ride. Based on the deals in the recent past, AMCs are now valued over 10 per cent of their Assets Under Management (AUM) than just 4-5 per cent of their assets as done earlier. For ICICI and HFDC chiefs competition goes beyond just the institutions they manage. It is now about the bankers themselves and how they unlock value for the shareholder. The recent buyout of Centurion bank is an example of how HDFC is now in a fresh strategy to scale up and Deepak Parekh is clear, despite the criticism on CBoP merger, it will bear fruits in the medium term. The first move in that direction for the bank will be to move away from personal loans to corporate growth. Having sold 26 per cent for Rs 235 crore in its general insurance business to Germany's ERGO International, HDFC's has kicked off what will be a serious exercise in unlocking value.
Listing of equity shares of Nahar Capital & Financial Services Ltd
Trading Members of the Exchange are hereby informed that effective from March 11, 2008, the equity shares of Nahar Capital & Financial Services Ltd (Scrip Code: 532952) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20080307-31 dated March 07, 2008.
Cognizant signs $95 mn agreement with AstraZeneca
Global IT firm Cognizant on March 10, signed a 95-million dollar agreement with AstraZeneca, a global pharmaceutical company, to provide clinical data management (CDM) services for the latter's clinical development. The contract is for a period of five years in which Cognizant would provide a broad spectrum of centralised data management services for AstraZenecas global clinical development programmes. The clinical development programmes comprise data management planning, clinical study set-up for electronic data capture, medical coding, adverse event reconciliation, clinical data management and training for the clinical sites and investigators. The intention to centralise these services was announced by AstraZeneca last year as part of its effort to drive research and development efficiencies.
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