Entries Tagged 'Announcements' ↓

Reliance Energy Name Change has been approved by the members of the board and the Reliance Energy will be now called as Reliance Infrastructure Limited. They will seek the final approval from the shareholders. Reliance Energy has issued the following statement to the exchanges regarding the Reliance Energy name change

“Reliance Energy Ltd is the largest private player in the electricity sector across the entire value chain (generation, transmission, distribution, trading and EPC). However, over the past two and half years, the Company has emerged as a leader in all areas of infrastructure business. The new name “Reliance Infrastructure Ltd” will adequately reflect the current nature of the businesses in the Company fold and in line with the Company’s vision to tap and play a vital role in the emerging potential in the country for infrastructure development”. Reliance Energy is currently: • Largest private power sector EPC player in the country with order book of over 8,000 crore. • Largest power transmission infrastructure developer in private sector including the Western Region Strengthening System, (WRSS) the only 100% owned power Transmission project to be developed by private player in the country. • Largest private sector metro rail project developer in the country with 12km VAG corridor in Mumbai and 22.7 km airport link in Delhi • Largest concessionaire for NHAI and building over 400 kms of road highway projects. • Preferred bidder to construct the 25 km long, country’s longest, bridge over sea link (MTHL) in Mumbai. Apart from the above REL is constructing the country’s tallest 100 storey corporate park in Hyderabad and has plans for setting SEZ in Noida and Mumbai and is in advanced stages of bidding for several metro, airports, highway and energy distribution projects across the country. “The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders”. “The name change will not affect any of the rights of the Company or the shareholders of the Company”, the official added.

I think it really justifies the name change of Reliance Energy as the core projects of all Reliance Energy will now anyway handled by Reliance Power Limited. And now it would be interesting to see they transfer all the projects of Reliance Power to a new company and list that company.

Much awaited Tata’s 1 lakh car otherwise known as the People’s car is to be displayed to the car enthusiasts at the upcoming Auto Expo on January 10, 2008. Technical aspects and other details of the car will be known at the Auto Expo show while it is expected that the People’s car will be a rear engine model and technicians believe that the model would be extremely economical capable of delivering 25 km mileage for a litre of Petrol. Acceleration is more or less to be on the same levels as the Maruthi 800 and to reduce the overall weight and to improve economy more plastic is used through out the car. Lot of people are waiting to see the model pictures of the car.

National Mineral Development Corporation (NMDC) Bonus issue and Stock split will be considered by the board in their upcoming meeting which is to be held on 27th December, 2007. In an announcement made to the BSE, the company has informed that the meeting of the Board of Directors of the company will be held on 27th to discuss on the proposal of Bonus issue and stock split. NMDC stock is locked on the upper circuit today and is currently trading at Rs. 10,316.25 on the BSE with no sellers available. More information regarding the National Mineral Development Corporation (NMDC) Bonus issue and stock split ratio and record dates will be available as soon as the board meeting will be over. Visit us for updates on NMDC Bonus issue and Stock Split.

Jaiprakash Associates (JP Associates) board of directors at their meeting held on Friday has approved GDR Issue worth USD 400 million, the share holders approval has already been taken in the AGM for the GDR Issue.

JP Associates also approved the issue of 50 million convertible warrants to Jaypee Ventures, a promoter group company, on preferential basis, which will be convertible into equity shares of Rs 2 each within 18 months, at a price to be determined in accordance with SEBI Guidelines, subject to necessary approval of shareholders of the company.

Jaiprakash Associates stock has been trading firmly moving up from the past weeks, the company has also proposed for stock split. Jaiprakash Assoicates Stock Split Record date is not yet annouced but the stock split news and now the GDR will help the stock hit new highs.

Shares of Jaiprakash Associates company gained Rs 82.55, or 3.99%, to trade at Rs 2,154.

Reliance Industries (RIL) have big plans to invest up to an amount of USD 24 billion over the next ten years in setting up petrochemical plants in the Middle east. Reliance wants to tap the growing demand for chemicals in Asia, especially in China and Middle east. For this the company plans to set up petrochemical plants, each costing USD 6 billion which would help company meet the demand in India for chemicals in the coming years.

GMR has sold 9 percent stake in GMR Infrastructure for an estimated amount of USD 1 billion through equity sale. The deal was completed on 12th December and the company plans to use the funds for the group expansion plans and for overseas acquisitions.

The stake sale deal which is said to be the country’s largest QIP (Qualified Institutional Placement) transaction will help GMR , becoming a USD 25 billion company in the coming years.

Shares of GMR Infrastructure closed at Rs 243 on the BSE.

Laresen & Toubro Limited has bought 26 per cent stake in Feedback Venture valued at Rs. 40 crore. Feedback Ventures is a premier consulting firm in the infrastructure space. L&T is the main client for Feedback Ventures and now the company hopes to work both internationally and domestically along Larsen and Toubro.