Year: 2007

Rane Brake Linings Ltd has informed us that the Board of Directors of the Company at its meeting held on August 20, 2007, has taken the following decisions:

The manufacturing undertakings of the Company would be demerged into a new manufacturing Company and the equity shares of the new manufacturing Company will be listed on the Stock Exchanges.

The residual non-manufacturing business of the Company would be merged with Rane Holdings Ltd (RHL). So, for every 100 shares held in the Company, the shareholders would be allotted shares as under:

• 100 shares in the new manufacturing Company
• 75 shares in Rane Holdings Ltd

Further, their is a similar scheme of demerger in another group company, Rane Engine Valves.

Rane Engine Valves Ltd has informed us that the Board of Directors of the Company at its meeting held on August 20, 2007, has taken the following decisions:

The manufacturing undertakings of the Company would be demerged into a new manufacturing Company and the equity shares of the new manufacturing Company will be listed on the Stock Exchanges.

The residual non-manufacturing business of the Company would be merged with Rane Holdings Ltd (RHL). So, for every 100 shares held in the Company, the shareholders would be allotted shares as under:

• 100 shares in the new manufacturing Company and
• 56 shares in Rane Holdings Ltd.

Finally the Rane Group has consolidated its business to take on the new challenges as India aspires to become a global manufacturing hub.

The board of Cinevista Ltd has approved the sub-division of Rs 10 to Rs 2 per share.
Further, the board has decided to increase the authorized capital from Rs 12 crore to Rs 20 crore.

Ranbaxy Laboratories has received approval from the U.S. Food and Drug Administration to manufacture and market hydrocodone bitartrate and acetaminophen tablets USP, 75 mg/750 mg, 10 mg/500 mg, 5 mg/500 mg, and 10 mg/325 mg strengths. The office of generic drugs, U.S. FDA, has determined the Ranbaxy formulations to be bioequivalent and have the same therapeutic effect as that of the reference listed drugs as follows: 10 mg/325 mg norco tablets of watson pharmaceuticals 5 mg/500 mg vicodin tablets, and 7.5 mg/750 mg vicodin ES tablets both of abbott laboratories, and 10 mg/500 mg lortab tablets of UCB Inc.

Hanung Toys & Textiles announced during the market hours today, 20 August 2007 that the company has bagged an export order from home furnishing retailer IKEA Sweden, for exporting soft toys/kids furnishing to the extent of Rs 600 crore.

Net profit of Hanung Toys and Textiles rose 93.75% to Rs 9.30 crore 55.73% rise in sales to Rs 85.20 crore in Q1 June 2007 over Q1 June 2006.

Flashnews: The board of Ugar Sugar Works has discussed the matter of rights issue and recommended rights shares in the ratio of 1 share for every 4 shares held at a premium of Rs 7 per share (total Rs 8 per share including premium) subject to the approval of the shareholders in the general body meeting to be held on 28 September 2007.

All the sugar stocks including Balrampur Chini and Bajaj Hindustan have turned sour when it comes to their price – quoting almost at their 52 week lows.