Entries Tagged 'Announcements' ↓

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.

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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.

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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.

Reliance Industries today moved up smartly on the news that the company is planning to acquire 49 per cent stake in Uranium Exploration Australia’s eight Blocks. Reliance Industries stock moved up around 2 per cent to trade at Rs. 2881 at 12.40 pm on the BSE. News regarding the stake acquisition by Reliance Industries in Uranium Exploration should be announced soon.

Indus Towers is the new tower company which is to be started as a seperate entity in which Bharti Infratel, Vodafone Essar and Idea Cellular will be part. Indus Towers Limited will be an independent company which would provide infrastructure services to all the telecom operators. The company will initially have around 70,000 sites to start off with and in the coming years will install more towers which can be used by all the three telecom companies which would reduce the cost of operations. Bharti and Vodafone will own around 42 per cent stake and 16 per cent will be owned by Idea Cellular Limited. Indus Towers Limited will bring more value to the parent companies in the coming years.