Entries Tagged 'Announcements' ↓

Idea Cellular Limited and Cairn’s India will trade in Nifty from December 12, 2007.

Both the stocks are trading in the Junior Nifty and from 12th December they will be trading in the Nifty.

Idea Cellular and Cairn India will l replace MTNL and HPCL in Nifty.

EID Parry India Ltd has informed the Indian Stock Markets BSE and NSE that a Board of Directors meeting of the company will be held on 29th October 2007 to consider the proposal for Buy back of equity shares.

The Board meeting will also approve the Unaudited Financial Results of the company for the quarter ended September 30 2007.

Based on the Buy Back news the shares of EID Parry have rallied well in the last 2 trading sessions the stock has moved up around 10%. The stock closed at Rs 145.75 on Wednesday 24th October 2007 at the National Stock Exchange.

It would be interesting to see, what the Board of Directors would announce in the Board meeting on 29th October about the Buy Back offer of EID Parry.

EID Parry India Ltd has informed the Indian Stock Markets that the Board will meet on 29th October 2007 to consider Buy Back offer of equity shares and unaudited Financial Results.

Aban Singapore, a wholly-owned subsidiary of Aban Offshore India Limited, is all set to enter the Singapore stock exchange, which will be the largest IPO by an subsidary of Indian company abroad.

Aban has appointed UBS and Merrill Lynch as lead managers for this IPO and they are currently undertaking a valuation exercise of the company.

Aban offshore has initially tried to raise PE for the Singapore subsidiary but later decided to go for the IPO. Aban Singapore and its wholly-owned subsidiary Aban International Norway owns 100% of Sinvest.

Sources said the company delayed the IPO for a while, to fix all rigs under new contracts with fresh rates, in order “to get better valuations”.

In a bid to take the fight to the other Mobile companies who operate under the GSM Category, previously Reliance Communications has applied for the GSM license to the Department of Telecommunications.

In this regard Reliance Communications has recieved necessary approvals from the DOT to offer nation-wide GSM Services under its existing Unified Access Service License.

Reliance is a CDMA operator and is intending to convert its existing GSM Licenses in seven circles into unified access service.

Shares of Reliance Communications reacted positively to the new and the shares were last trading up Rs 3.55 , or 0.5% at Rs 715.00 on the BSE irrespective of the markets being volatile.

Mastek which came out with their financial results today have also announced a buyback of their shares from the open market up to a total value of Rs 65 crore.

Mastek annoucement to the stock exchanges state that company would buy about 6% of its shares from the open market to the extent of Rs 65 crore and with a maximum ceiling price of Rs 750 per share.

As it is going to be an open market purchase the Share price of Mastek will go up in the coming days.

The board of directors of Idea Cellular at its meeting held on Sep. 10, 2007, decided to de-merge the tower infrastructure of the company into a wholly owned subsidiary.The demerger will be carried out according to the provisions of the companies act, subject to all regulatory approvals.

Brokerage houses in India has estimated that the tower business is probably worth USD 1-1.2 billion which works out to Rs 20 odd per share.

Leading media manufacturer Moser Baer India Ltd has today made its foray into the PC peripherals Industry with the launch of its Optical Disk Drive in the name of “Moser Baer Lite-on”.

Moser Baer India will partner with Philips and Lite-on Digital Solutions to produce the drives in India.