Author: CP

The board of Lloyds Metals & Engineers approved the sub – division of existing equity capital of the company of nominal value of Rs 10 each fully paid up forming part of the subscribed and paid-up capital of the company into nominal value of Rs 2 each credited as fully paid up.

The board has approved the issue of 10,00,000 warrants convertible into equity shares of Rs 10 each to, individual non promoters on preferential basis.

The board has approved the issue of 10,00,000 warrants at a price of Rs 90 per warrant entitling the holders of warrants to apply for and obtain allotment of equity share against each warrant within a period of 18 months.

RTS Power Corporation announced before market hours today, 10 September 2007, it has got Rs 35.11-crore orders for supply of transformers, conductors and cables to power utilities.

ICRA and State Bank of India (SBI) have signed a MoU under which the company will assign ratings to the bank’s loans and its other exposures under the standardized approach of RBI’s new capital adequacy framework for Basel-II.
To assist potential and existing borrowers of SBI in obtaining ratings, ICRA is offering special terms to the clients of SBI covered by the MoU.

The MoU between ICRA and SBI seeks to deliver a number of benefits to the SBI as well its clients. For SBI, ICRA’s line of credit ratings would assist in implementing RBI’s new capital adequacy framework under Basel-II.

Aurobindo Pharma has announced that the UK-MHRA has issued a certificate of GMP Clearance for its unit-VIII situated at Kazipally, near Hyderabad Andhra Pradesh. With this clearance, the API site completes one of the important formalities of supplies to be made in the European Union and observer states. The certificate is also recognized by several other regulatory agencies and customers globally. The facility has already been inspected successfully in the past by US-FDA and WHO-Geneva as well.

Fortis Healthcare has announced that International Hospital,a wholly owned subsidiary of the company has together with Oscar Investments entered into an agreement for acquisition of equity shares of Malar Hospitals, Chennai. 39,00,000 equity shares from promoters of Malar Hospitals representing approximately 28% of its present paid-up equity capital.

Allotment of 46,66,666 equity shares of Malar Hospitals representing 25.10% of the fully expanded voting equity capital, by way of preferential allotment consequent to conversion of loan into equity.

Kirloskar Brothers has announced that the joint ventures formed by the company have received contracts from the Government of Andhra Pradesh, irrigation & CAD department.

Hindri Niva Sujala Sravanthi (HNSS) project main canal for stage II of Phase I on EPC Turnkey system, in respect of investigation, design, manufacture, supply of pumps, motors and pressure mains at site of work including erection, commissioning and testing of 8 numbers at each pumping station of hydro mechanical, electro mechanical and other accessories and maintenance of 12 pumps at each pumping station and the system for 15 years. The total contract value is Rs 761.24 crore. KBL portion of contract value: Rs 114.16 crore.

The company has received additional order for supply of pumps & pumping system from Megha Engineering & Infrastructures in respect of the aforesaid project at a contract value of Rs 145.84 crore.

Sintex will acquire ownership of Bright Brothers’ all five automotive component manufacturing plants located in close proximity to major automobile production hubs like Chennai, Sohna, Pune, Pithampur and Nashik.

The newly-formed entity will retain all 400 employees from the existing workforce of the automotive division.

Bright Brothers’ plastics unit makes consoles, trims, bumpers, seating and cockpit systems. Sintex primarily makes fuel tanks in its auto plastics division. The acquisition represents a significant step towards establishing a strong presence in the domestic plastic auto component market, Sintex said.