Category: Breaking Corporate India Earnings News

The board of Century Extrusions just a while ago informed us that they have approved rights issue of equity shares to part finance the cost of expansion (enhancement of capacity for manufacture of aluminium extrusions from 7500 TPA to 15000 TPA, estimated project cost – Rs 34.50 core) and diversification (setting up facility for manufacture of 6000 TPA power transmission and distribution line hardware – estimated project cost Rs 1.00 crore) projects of the company.

• 06-Mar-08 Thursday Mahashivratri
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• 21-Mar-08 Friday Good Friday
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• 28-Oct-08 TuesdayLaxmi Puja- Muhurat Trading will be conducted
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IVR Prime Urban Developers has received investment commitments of around Rs 250 crore [$62 mn] for its multi use integrated development realty projects.

The company further announces that few more realty funds are also inclined to join hands with IVR Prime for development of some of its projects.The company’s land reserves are to the extent of 2850 acres around. Tier I cities in Chennai, Hyderabad, Pune, Bangalore, Visakhapatnam and Noida.

Maharashtra Seamless (MSL) has announced that the company has been awarded export orders worth US $ 40 million from USA & Latin America. These supplies would support the drilling programmes of oil & gas majors in the above region. With the exploration & drilling activities on the rise, the demand for seamless pipes is expected to rise significantly and MSL is better positioned to get some major pipes contracts in the coming time.

Recently, US authorities have initiated anti dumping duty investigation against Chinese pipe and have already imposed preliminary countervailing duty. This would pave the way for better market share in USA for others and Indian players. To meet the customer requirements and to support the export functions, the company has opened export branch in USA to facilitate better services and customer support to its large base of OCTG and line pipes customers in USA, Canada and Latin America.

Alchemist Realty formerly known as Pan packaging has informed us that the company will hold an extraordinary general meeting of its shareholders on 10 January 2008 to obtain their approval for the bonus issue in the ration of 1:1.

Brady & Morris Engineering Company have resolved to issue bonus shares in the ratio of 1:2 that is one new equity share for every two existing issued equity shares.
This was resolved at the extra ordinary general meeting held just a while ago.

Thomas Cook India has signed a MOU with JTB Corp. Japan, one of the largest travel solutions companies in the world. The alliance will allow Thomas Cook to access the JTB Corp. network across 30 countries alongwith affiliates spreading over 800 offices. For JTB Corp. the alliance will provide a ready platform to enter the Indian market.

Thomas Cook expects to witness growth in areas such as in-bound and out-bound tours. With this alliance, Thomas Cook also expects to see tremendous growth in its corporate travel business as it would now have access to the global relationships of JTB Corp. Every year with increasing number of travelers into India from Japan; JTB Corp. being the leader in the Japanese market, would be able to use the network of Thomas Cook to serve its clientele better. The travel cooperation arrangements would be for inbound, outbound and corporate travel across markets such as Japan, China, South-East Asia, Australia, New Zealand, Europe and America.