mahikarnam

The Bombay Stock Exchange's 30-share Sensex Monday closed at 15,497.05, up 329.23 points or 2.17 per cent from the previous day's close. The high in the few minutes of trade was 15,520.71, and low 15,367.97. National Stock Exchange's 50-stock Nifty was at 4620.15, up 90.65 points.


3:30 pm: With reference to the earlier announcement dated Aug 1, 2008 regarding board to consider dividend, Universal Starch Chem Allied has now informed that the meeting of the board will be held on Aug 14 to approve audited accounts for the year 2007-08 and also to declare dividend if any.


3:20 pm: D&H Welding Electrodes India's board meeting will be held on Aug 19, 2008, to take on record audited financial results for the financial year ended on March 31, 2008 and recommendation of dividend for the year, if any.


3:10 pm: Sigma has expanded its co-opertion agreement with Sonata Software. The new partnership agreement is part of Sigma’s investment in business systems solutions and is aimed at facilitating a more efficient global delivery in the business systems solutions area.

Sigma has been in Bangalore, Incia since September 2007 with its own office and management personnel. Today they have several assignments which they are undertaking with their partners. The new agreement with Sonata will enable Sigma to provide top-of-the-line business solutions based on Microsoft Dynamics AX. Sigma will now be able to offer expanded global delivery capacity and finished conversion solutions within the business systems domain, Companies can now migrate from competing business systems solutions to Microsoft Dynamics AX seamlessly.


03:00 pm: Yashraj Containeurs board meeting will be held on August 14, 2008, to decide about making of the allotment of equity shares and also the allotment of convertible share warrants to the eligible applicants.


2:50 pm: Tayo Rolls Ltd has reported that the email ID for the redressal of investors grievances is investors_helpdesk@tayo.co.in


2:40 pm: Nava Bharat Ventures has reported that the Andhra Pradesh Government has, awarded the concession for undertaking the development of the Hyderabad metro rail project on design, build, finance, operate and transfer basis to its consortium comprising the Company, Nava Bharat Ventures, Maytas Infra , Italian-Thai Development PLC and Infrastructure Leasing & Financial Services.

The project comprises 3 lines such as Miyapurto L.B.Nagar - Approx Length 30 km, Jubilee Bus Station to Falaknuma - Approx Length 15km, Nagole to Shilparamam - Approx Length 26 km.


2:30 pm: Digjam has reported the a net loss to Rs 45.20 crore for the quarrer ended on June 30, 2008.compared with Rs 36.3 crore for the same quarter ended in 2007. Net sales increased Rs 29.31 crore in Apr-Jun quarter of 2008 against Rs 24.54 crore for the same quarter of 2007.


2:20 pm: Aadi Industries has reported that the board meeting was held on Aug 8, 2008 to consider allotment of shares on preferential basis and the matter was deferred.


2:10 pm: The Bombay Stock Exchange's 30-share Sensex Monday was at 15,476.26, up 308.44 points or 2.03 per cent from the previous day's close. The high at trade was 15,488.06, and low 15,367.97. National Stock Exchange's 50-stock Nifty was at 4602.95, up 73.45 points.


02:00 pm: Spice Mobiles has reported that the name of the Promoter of the company has been changed from Spice Corp to Spice Entertainment with effect from Aug 7, 2008. The company shares were up 2.76 per cent to Rs 26.10 on BSE.


1:50 pm: EPIC Energy Ltd has successfully completed the installation of 25 solar street lights of 74 watts each for the Thiruvarur District and Rural Development Authority through its Sathiyan Sun Power Systems division. It has similarly installed 10 solar street light controllers and 50 solar road studs in the Erode Municipal Corporation area. Shares of EPIC Energy were up 0.41 per cent at Rs 97.55 on BSE.


1:40 pm: Richa Knits Ltd has informed BSE about the change in name of the company to "Richa Industries Ltd". The registered office of the company has also changed to VPO Kanwra, Faridabad in Haryana. Shares of the company were up 0.19 per cent at Rs 102.90.


1:30 pm: Gujarat NRE Coke’s two mines in New South Wales, Australia is all set to attain critical mass in the current fiscal. The first mine of the company, whose mining infrastructure has been completely refurbished over the last couple of years and now the mine has gone to 7 day production with the introduction of weekend rosters recently. The development project WONGA MAINS is also proceeding well and is on track to ramp up production from the mine to a level of around 4 million tonne per annum.

The company’s second mine in Australia, NRE Woongawilli too is humming with activity. This mine has just seen the introduction of a brand new continuous miner from Sandvik, Austria which would further help ramp up its production. Both mines produce premium hard coking coal obtained after washing in India and is being shipped out of Port Kembla to the company’s facilities in India. The augmented production comes at a time when there is a global shortage of coking coal with prices reaching historic high’s.


1:20 pm: Indo Rama Synthetics (India) has reported that due to high input cost of petrochemical based raw materials viz, PTA & MEG and our inability to cut product prices, the company has decided to take shutdown of its polyester plant till third week of August, 2008. As you are aware that crude prices have softened by almost 20 per cent after touching the peak of $147 per barrel leading to a sharp correction in raw material prices resulting into the customers expecting lower prices whereas the raw material prices remain firm in domestic market as they trail by a month.

In order to avoid inventory losses by using high priced raw materials, the management has decided to take shutdown of its polyester plant till third week of August 2008. The production loss due to temporary shutdown is not going to affect the sales as company is carrying the finished goods stock of 30,000 Mts.


01:10 pm: HEG board meeting will be held on Augt 19, 2008, inter alia, to consider the proposal regarding the buy-back of its equity shares by the company.


01:00 pm: Uniworth Securities share transfer books will remain closed from Aug 30 to Sept 1, 2008 for the purpose of payment of dividend at the rate of Rs 0.25 per equity share of Rs 10 each.


12:50 pm: Maytas Infra has reported that Andhra Pradesh government has vide its letter of award awarded the concession for undertaking the development of the Hyderabad Metro Rail Project on design, build, finance, operate and transfer basis to its consortium comprising Nava Bharat Ventures, Maytas Infra, Italian-Thai Development Public Company and Infrastructure Leasing & Financial Services.


12:40 pm: The Bombay Stock Exchange's 30-share Sensex was up 201.45 points or 1.33 per cent to 15,369.27 from the previous day's close. The high at the time of trade was 15,488.06, and low 15,367.97.


12:30 pm: Ceejay Finance's net profit rose 20.54 per cent to Rs 22.3 lakh for the quarter ended on June 30, 2008 compared with Rs 18.5 lakh for the same quarter ended in 2007. Net sales increased 8.49 per cent to Rs 1.52 crore in Apr-Jun quarter of 2008 against Rs 1.40 crore in the corresponding quarter of preivous year.


12:20 pm: Gujarat Foils' net profit rose 34.23 per cent to Rs 94.5 lakh for the quartere ended in June 30, 2008 compared with Rs 70.4 lakh for the same quarter ended in 2007. Net sales increased 2.64 per cent to Rs 27.52 crore in Apr-Jun quarter of 2008 against Rs 26.81 crore in the corresponding quarter of previous year.


12:15 pm: Premier Explosives is setting up for backward integration a company by the name of Premier Wire Products with 60 per cent equity as an ancillary unit. The products manufactured by the company will be used as raw materials in production of detonators.

The company has formed a Joint Venture with VXL Technologies, Faridabad, called 'VTL Premier Pyrotechnics for manufacture of pyrotechnic devices, fuzes, used for defence.


12:10 pm: Godawari Power & Ispat has signed a memorandum of understanding with Chhattisgarh government for setting-up of the manufacturing facilities under its expansion program in Chhattisgarh with proposed investment of Rs 1,570 crore.


12:05 pm: Avon Weighing Systems shares were up 2.37 per cent to Rs 8.20 on BSE. The board will meet on Aug 14, 2008, to consider change of name and to the Increase in the borrowing power.


12:00 pm: Anuh Pharma’s shares were up 3.48 per cent to Rs 261.40 on BSE. The company has recommended a dividend at Rs 8 per equity share of face value of Rs 5.


11:55 am: Manoj Surgical Industries has reported that the board meeting held on June 28, 2008, for convening an extra ordinary general meeting on July 31, 2008 for passing a special resolution to confirm the name change of the company as is approved by the Registrar of Companies, Madhaya Pradesh & Chhatisgarh. The name is proposed to be changed from Manoj Surgical Industries to Raaj Medisafe India.


11:50 am: Vishnu Sugar Mills shares were up 5 per cent to Rs 2,248.60 on BSE. The company has recommended the payment of dividend at the rate of 5 per cent on equity shares.


11:45 am: Bank of Baroda has decided to increase its benchmark prime lending rate by 75 basis points from existing 13.25 per cent per annum to 14 per cent per annum with effect from Aug 11, 2008. However interest rate existing housing, educational and auto loans as also new housing loans up to Rs 30 lakh, remain unchanged. Further the interest rates on new housing loans exceeding Rs 30 lakh and new auto and consumer loans will be increased by 0.50 per cent.


11:40 am: Nirma board meeting will be held on August 19, 2008, to consider, approve and take on record audited annual financial results for the financial year ended on March 31, 2008 and to recommend the dividend if any on equity and preference shares.


11:35 am: Ram Informatics has received an order from IT&C Department, Andhra Pradesh government for support of social benefit management system application software for a period of three years. The company shares were up 2.66 per cent to Rs 13.50 on BSE.


11:30 am: SE Investments has approved to sub-divide the existing one equity share of the face value of Rs 10 each into 10 equity shares of the face value of Rs 1 each consequently, the authorised share capital of the company be and is hereby altered from the existing Rs 3,50,00,000 divided 35,00,000 equity shares of Rs 10 each to Rs 3,50,00,000 divided 3,50,00,000 equity shares of Re 1 each.

To accord in principle approval for amalgamation of Unnati Financial Services, New Delhi with the company under a scheme of amalgamation.


11:25 am: Info Drive Software' shares were at Rs 53.40 on BSE. The company has recommed a dividend at the rate of 5 per cent (Rs 0.50 ps per share) on the equity capital of 2,92,38,890 shares.


11:20 am: Quintegra Solutions board will meet on Aug 18, 2008 to approve the audited accounts for the financial year ended March 31, 2008 and recommendation of dividend, if any.


11:15 am: Kirloskar Ferrous Industries has extinguished 1,93,854 detachable warrants and has allotted 1,93,854 equity shares at Rs 5 each fully paid, pursuant to the conversion of detachable warrants into equity shares in terms of the letter of offer dated Jan 2, 2007. Consequent to the allotment of equity shares, the paid-up share capital stands increased from Rs 68,54,89,075 to Rs 68,64,58,345.


11:10 am: Jetking Infotrain shares were up 0.08 per cent to Rs 331.40 on BSE. The company has declared interim dividend at the rare of 50 per cent (Rs 5 per equity share of Rs 10 each) for the financial year 2008-09 on the pre bonus equity capital of 3,92,600 equity shares of Rs 10 each.


11:05 am: Jhaveri Flexo India has decided to issue 30,35,000 equity shares of the face value of Rs 5 each on preferential basis at the rate of Rs 60 per share as determined by SEBI 2000 to some strategic investors for compliance with the listing agreement to raise the public shareholding in the company to the required minimum level and inter-alia to raise funds for its expansion plans and to meet long term working capital requirement of the company. The matter will be placed before the ensuing annual general meeting to be held on Sept 8, 2008 for obtaining the shareholders' approval.


11:00 am: Bharat Rasayan has consider and approve the annual accounts for the year ended March 31, 2008. To recommend for dividend, if any.


10:55 am: With reference to the news item appearing in a leading financial daily titled "Another Aug, another open offer in offing", Ingersoll-Rand (India) has clarified that the presently there is no proposal by the parent company, Ingersoll Rand Company Ltd, Bermuda for making an open offer to the Indian shareholders. The news item mentions according to sources, the company is likely to come up with a revised open offer at Rs 420 per share. The company is not aware of the sources basis which this new item has been published by the financial daily.

The Company would like to reiterate that as and when the open offer proposal is being considered, all statutory requirements in this regard will be complied with.


10:50 am: With reference to the news item appearing in a leading financial daily titled "Another Aug, another open offer in offing", Ingersoll-Rand (India) has clarified that the presently there is no proposal by the parent company, Ingersoll Rand Company Ltd, Bermuda for making an open offer to the Indian shareholders. The news item mentions according to sources, the company is likely to come up with a revised open offer at Rs 420 per share. The company is not aware of the sources basis which this new item has been published by the financial daily.

The Company would like to reiterate that as and when the open offer proposal is being considered, all statutory requirements in this regard will be complied with.


10:45 am: Venus Remedies has successfully launched its fourth research product, a fixed dose combination of cephalosporin with aminoglycoside under the brand name tobracef in domestic market for the first time golbally. The Drug Controller General of India has accorded its approval to Venus Remedies for launch of the fourth innovative product developed by Venus Research Centre, after completion of its multi-centered Phase III clinical trials and all related studies in March 2008.

Tobracef, is a god send for APE/Cystic Fibrosis patients being the only solution for the treatment of life threatening infections caused by P Aeruginosa / MRSA in these patients. The PSD division is targeting to fast penetrate the Rs 2 billion domestic market and is expected to build this brand as a segment leader within 2 years of its launch. There are 50 patent applications in process in 50 countries across the globe for this wonderful product and the company is in talks for out-licencing of this product in US and other regulated markets of the world.


10:40 am: Siemens Medical Solutions Diagnostics has issued a fresh certificate of incorporation to the company in the name of Siemens Healthcare Diagnostics. Accordingly, the name of the company Siemens Medical Solutions Diagnostics stands changed to"Siemens Healthcare Diagnostics with effect from Aug 6, 2008.


10:35 am: Genesys International Corporation board will meet on Aug 18, 2008, to consider and approve the annual accounts financial results for the year ended March 31, 2008. To recommend a dividend, if any, on the equity shares.


10:30 am: Dynamatic Technologies has issued 6,04,000 equity shares of Rs 10 each at a premium of Rs 1,224 per equity share (issue price of Rs 1,234 per share) to the qualified institutional buyers. Tile QIBs participated in the issue are FID Funds (Mauritius), New Vernon India and Credit Suisse (Singapore).


10:25 am: Bharat Forge, the flagship company of the$2.4 billion Kalyani Group and a leading global supplier of forged and machined components today announced the commissioning of India’s largest commercial open forging press at its Mundhwa facility in Pune.

The new facility which is a large 4000T open die press will produce ingots ranging up to 70 tonne and will primarily cater to the wind energy, oil & gas, steel, power, gear, cement ship building, pressure vessel, petrochemical & sugar industry. Shafts for the wind energy & power generation sector, well heads a Xmas tree parts for the oil & gas industry and Pinion Shafts, gear blanks for the capital goods sector are some of the parts that will be manufactured at this new facility.


10:20 am: Sanwaria Agro Oils has recommended the dividend on equity shares at the rate of 30 per cent, Rs 0.30 per share to equity share holders of the company. To recommend the bonus shares in the ratio of 1:1 to equity share holders.


10:15 am: Spicejet - Infusion of $100 million has reproted that its shareholders RHSL, Istithmar and Ajay Singh and Goldman Sachs, in its capacity as a bondholder of the company, on August 11, 2008 has entered into definitive agreements with WL Ross & Co LLC. This will result in infusion of approximately $100 million in the company for its business requirements. Furthermore, Goldman Sachs has agreed to subscribe to equity warrants of the company under the preferential issue guidelines of SEBI subject to receipt of requisite approvals.


10:10 am: Savera Industries has recommended a dividend of 20 pre cent (Rs 2 per equity share). The company shares were down 4.59 per cent to Rs 54 on BSE.


10:05 am: National Thermal Power Corporation has signed memorandum of understanding with NHPC Ltd, Power Finance Corporation Ltd and Tata Consultancy Services Ltd for incorporation of a Joint Venture Company to set-up and operate a power exchange at national level. This power exchange would provide a neutral and transparent electronic platform for trading of power on day ahead basis and ensure clearing of all trades in a transparent, fair and open manner with access to all players in the power markets


10:00 am: Companies scheduled to announce earnings for the quarter / year ended March 31, 2008 today are --- GS Auto International, GTC Industries, Gujarat Toolroom, Hanil Era Textiles, JMDE Packaging & Realties.


The Bombay Stock Exchange's 30-share Sensex Monday opened at 15,430.31, up 262.49 points or 1.73 per cent from the previous day's close. The high in the few minutes of trade was 15,440.44, and low 15,419.62. National Stock Exchange's 50-stock Nifty was at 4529.35, down 0.15 points.