In a communiqu to the Bombay Stock Exchange, the Rs 700-crore company said the Registrar of Companies, Maharashtra, approved the name change.
Panacea Biotec Ltd said on Wednesday it has received pre-qualification accreditation from the World Health Organisation for the supply of recombinant Hepatitis B vaccine to UN agencies.
In a filing to the Bombay Stock Exchange IOC said the shareholders, by way of postal ballot, has approved theissuance of bonus shares in the ratio of 1:1.
According to the scheme, the deposit of Rs 10 lakh (Rs 1 million) for trading and up to Rs 20 lakh (Rs 2 million) for clearing members would be waived for already-registered members of the MCX, BSE, Foreign Exchange Dealers' Association of India, National Commodity and Derivatives Exchange and NSE, who choose to enroll before September 6.
Relaince Energy received the shareholders approval for raising funds through issue of securities.
sustained inflow of foreign funds kept the market in a cheerful mood.
The various deposit rates of SBI are in the range of 4 per cent to 7.75 per cent. The bank added that it reviewed the base rate -- the minimum lending rate below which bank cannot offer loans -- at existing level of 7.50 per cent.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
UltraTech said its board will meet on Tuesday to consider a proposal from Samruddhi Cement to merge the cement business of group with itself.
Gujarat NRE Coke on Monday said it has completed the acquisition of the Australia-based Elouera mine from BHP Billiton a part of the Australia-based Illawarra Coal Business for an undisclosed amount.
The Maruti Udyog Ltd board has approved a proposal to introduce a voluntary retirement scheme for employees of the company.
The Bombay Stock Exchange's journey from being a brokers' club to becoming a professionally managed entity seems to have got derailed once again, with a spate of resignations in the past three months.
Shareholders of Spicejet including Royal Holding Services Ltd, Istithmar and Ajay Singh and Goldman Sachs, in capacity as a bondholder of the company, on Monday entered into definitive agreements with WL Ross & Co to this effect, Spicejet said in a filing to the Bombay Stock Exchange.
The Bombay Stock Exchange has called off its plan to acquire 26 per cent in the Ahmedabad-based National Multi Commodity Exchange. The deal was terminated just before the resignation of BSE Managing Director and CEO Rajnikant Patel.
The Children's Investment Fund Management and its affiliates have emerged as the single-largest seller of Indian stocks among foreign institutional investors.
'We expect the bull run to continue until economic growth continues.'
The bonds are expected to be listed on the Singapore Stock Exchange and closing is likely to take place on January 21, 2008, subject to requisite approvals, Gremach said in a filing to the Bombay Stock Exchange. The company intends to use the net proceeds of the issue for foraying into oil rig business as may be permitted by Indian law and RBI regulation.
The bank had earned a net profit of Rs 811 crore (Rs 8.11 billion) in the April-June quarter of the previous year, HDFC Bank informed the Bombay Stock Exchange.
Kingfisher Airlines on Thursday said its vice-chairman G R Gopinath has reduced his stake in the air carrier to 1.75 per cent after selling shares worth Rs 4.03 crore (Rs 40.3 million).
The Petroleum Trust, one of the promoter entity in RIL, sold 1,50,00,000 equity shares of the company at an average price of about Rs 2,125 per share, Reliance Industries said in a filing to the Bombay Stock Exchange.
For retail investors, who had suffered big losses in the mayhem that started in January 2008, this is certainly a good news. Since mid-March, when the Sensex was languishing at 8,000 levels, there has been a sharp change in the mood. Markets have risen over 100 per cent. Even returns from mutual funds have improved substantially.
The Income Tax Department has moved the Bombay High Court to recover nearly Rs 500 crore from top stock brokers, who have managed to avoid paying income tax on the pretext of claiming depreciation on their Bombay Stock Exchange membership card.
The broader 50-share Nifty of the National Stock Exchange edged up by 5.15 points, or 0.11 per cent, to 4,819.40.
Nirma Ltd informed the Bombay Stock Exchange that it would purchase Searles Valley Minerals Operations and Searles Valley Minerals Inc (collectively known as SVM) from US-based private investment firm Sun Capital Partners Inc and other minority shareholders. HSBC Securities and Capital Markets (India) Pvt Ltd advised Nirma on the acquisition of the natural soda ash manufacturer, while J P Morgan Securities Inc was advisor to SVM.
While MCX-SX is still waiting for regulatory approval to host equity trading, BSE has been struggling to maintain its 30 per cent market share in the cash segment.
Tata group firm Trent Ltd on Friday said Anil Ambani-promoted Reliance Capital has bought 8.68 per cent stake in it for Rs 21.2 crore (Rs 212 million), marking ADA Group's entry into the retail sector.
Hotel Leelaventure Ltd on Friday said it has acquired the majority stake in Kovalam Hotels Ltd.
In a move to allow US investors to directly participate in India's equity markets, Chicago-based US Futures Exchange (USFE) will exclusively license the Bombay Stock Exchange's Sensex for US dollar-denominated futures trading beginning February 22 next year. At present, US investors can buy only a handful of Indian stocks listed on the New York and Nasdaq exchanges through an American Depository Receipt (ADR) authorisation.
Only a seasoned investor, who is clued on and has the resources to hold on or pay back the broker, should take such chances.
Top Satyam executives accelerated sales of their shares in the company in close to three months before the company's aborted December 16 bid to buy two developers controlled by Ramalinga Raju's family.
For being listed on the index a scrip must have the minimum free-float market capitalisation of Rs 100 crore.
Satyam Computer Services Ltd said on Monday it has signed a strategic partnership agreement with Denmark-based NNIT, a leading consultancy firm in IT operations.
Finacle is a universal banking solution from Infosys which addresses the core banking, treasury, wealth management, consumer and corporate e-banking, mobile banking and web-based cash management requirements of retail, corporate and universal banks worldwide. Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
The bank had a net profit of Rs 2,852.45 crore (Rs 28.52 billion) in the year-ago period, SBI said in a filing to the Bombay Stock Exchange.
This is the company's third international buyout in the last 12 months. Last year in October, the company had acquired Pinewood, the largest generic firm in Ireland and the biggest supplier of liquid generic products in the UK. Wockhardt had also bought Negma, the fourth largest independent pharmaceutical firm in France in May.
The corporate credit rating with a positive outlook, BBB, is higher than India's rating and "highlights the financial robustness of our business model and operating strengths of the company," TCS informed the Bombay Stock Exchange. According to S&P, the company has strong liquidity, with cash and bank deposits of Rs 1,230 crore (Rs 12.3 billion), about 9.4 per cent of total assets as on March 31, 2007.
Last month, the ADAG firm announced that it had bought back 250 FCCBs worth $100,000 each, aggregating about Rs 121.22 crore (Rs 1.21 billion). The bonds were bought back at a discount of 52.5 per cent over the issue price. In two tranches, RCom has bought back FCCBs aggregating to about Rs 170 crore (Rs 1.7 billion).
Oil India Ltd, the second state-run firm to hit the market with an offering of equity shares this year, may price its IPO that opens on September 7 at Rs 1,000-1,100 a share.
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