Dalal Street

Bajaj Electricals has seen a steady rally in the past few weeks ahead of this announcement. The stock had spurted 20% to Rs 503.60 in a single trading session on 16 May 2007 when the company first announced during trading hours that its board will meet on 29 May 2007 to consider bonus issue. The stock is currently trading at Rs 592, up 10%.

The company had last issued bonus in ratio of 1:2 (1 bonus share for every 2 held) in 1997.

The latest equity share capital of Bajaj Electricals is Rs 8.64 crore. The latest book value per share is Rs 90.59.

Bajaj Electricals manufactures a diverse range of products in three divisions: lighting, consumer durables and galvanised structures. It also undertakes turnkey projects of manufacturing and installing mobile, street lighting and transmission towers.

The company is a part of the Shekhar Bajaj Group with promoter holding a 66% stake in the company. It has five major strategic business units comprising home appliances, fans, lighting, luminaires and engineering & projects. It also manufactures, erect and commissions transmission line towers, telecom towers, mobile telecom towers and wind energy towers.

FLASHNEWS: The board of Unitech Ltd has decided to issue bonus shares in the ratio of 1:1.

The board also decided to cancel the existing authorised preference share capital and decided to increase the authorised share capital from Rs 200 crore (after cancellation of preference shares) to Rs 500 crore.

Unitech had given a liberal Bonus and a stock split last year.

Reliance Money, the e-Trading arm of ADAG has too many bugs in their online trading software which has causes huge loss to investors.

A customer, said that he sold 10,000 shares of Reliance Natural Resources (RNRL) at a profit and still his ledger balance was showing a debit 🙁

Other Common Glitches Faced by Investors are as follows,

• Limit based orders have disappeared.
• Executed Order confirmation given on next Trading Day [They should be given the next second]
• Franchisees admit to problems in software
• Transferring amount from UTI Bank to Reliance Money takes 4 days. JeeZ!!!

It is not uncommon to see Billing and Software errors in Ambani controlled companies. In 2003-04, their were tons of Billing errors in Reliance Infocom which caused the company to suffer more than Rs 100 crore loss. Ambanis are who are traders and oil merchants don’t understand the IT business 🙂

HDFC Bank is another bank which doesn’t understand the Online Banking needs of the User.