Dalal Street

Everest Industries is entering into business of design, manufacturing, supply and erection of pre-engineered steel buildings.

Pre-engineered steel buildings are accepted as an alternate to conventional buildings in the construction sector. Most of the industrial, infrastructure and commercial buildings are being made using this technology which saves lot of construction time. This technology is fast, efficient and cost effective compared to conventional building methods. The acceptance has been phenomenal across all segments in India. This business is in rapid growth mode and this concept is globally accepted. The existing players are growing very rapidly.

For undertaking this business, the company has commenced the setting up of its first plant at Bhagwanpur at Roorkee (Uttarakhand), which will be followed up by other plants based on market growth.

State Trading Corporation of India informed DalalStreet.Biz, that a meeting of the board of directors of the company will be held on 26 September 2007, to recommend bonus shares in a ratio of 1:1 . Shares of State Trading Corporation of India had hit a high of Rs 238.35, a record high for the scrip. The company’s current equity is Rs 30 crore. Face value per share is Rs 10.

Tata group company, Trent Ltd has announced partnership with Benetton India to introduce Luxury Retailing in India under the brand name Sisley.

Indo Asian Fusegear corporate communications has told us that the company is foraying into power distribution business. It is setting up a new company Indo Asian Power Distribution and Infrastructure (IAPDIL) with an investment of Rs 25 crore.

Initially the company is planning to work on projects in north India including Uttrakhand, Uttar Pradesh, Rajasthan, Haryana, Punjab and Madhya Pradesh. The initial investment will be made through internal accruals of the company.

Indo Asian Fusegear is a manufacturer of electrical switchgear and lighting equipment.

Tata’s controlled, Indian Hotels [owners of Taj Brand] have bought stake in Orient Express. The acquisition was done through its wholly owned subsidiary Samsara Properties. The Indian Hotels management plans to discuss a global alliance with Orient-Express to leverage each other’s strengths. The company has started talks with Orient-Express for a partnership to expand its network globally, the reports suggested.

Orient Express currently owns or has investments in 49 businesses: 39 highly individual hotels, two restaurants, six tourist trains (including Venice Simplon-Orient-Express, British Pullman, and Eastern & Oriental Express) and two river cruise operations, located in 25 countries worldwide.

The board of Indian Hotels last month approved a plan to raise Rs 1,920 crore by selling securities to existing shareholders for funding new properties.