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May 17, 2010 by | No Comments
Renuka Sugars may pay Rs 1,000-1,100 crore for Equipav versus Rs 1,530 crore earlier, reports CNBC-TV18, quoting sources. The deal could be called off if Equipav does not agree. On February 21, the Karnataka-based sugar firm agreed to buy 51% in Equipav for USD 329 million. It nudged out Hong Kong’s Noble Group in the [...]
May 17, 2010 by | No Comments
Wind-power company, Suzlon has restructured its foreign currency convertible bonds, sources told CNBC-TV18′s Pankaj Poddar. The conversion price is between Rs 95 and Rs 100 per share. CNBC-TV18 learns that the covenants have been relaxed for the entire tenure. Suzlon will pay 1% fees to bondholders for the waiver. Sources said the new price is [...]
May 16, 2010 by | No Comments
Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than what they were used to in the last 20 years, Reliance Industries chairman Mukesh Ambani said on Friday. In Asia, crude oil prices have fallen below $74 [...]
May 14, 2010 by | No Comments
Coal India’s initial public offer (IPO) is likely to hit the market in August. Merchant bankers have estimated the entire valuation of the IPO at USD 30-50 billion. Partha Bhattacharya, Chairman, Coal India says that it will be the largest government IPO till date. Six investment banks have been short-listed for the IPO. The banks [...]
May 10, 2010 by | No Comments
Private-sector lender Dhanalaxmi Bank plans to raise Rs 350-400 crore via a qualified institutional placement (QIP) to fund loan growth in 2010/11, a senior official said on Tuesday. The board approved issue of about 210 crore shares to institutional investors by September 2010 to augment the tier I capital base, Bipin Kabra, chief financial officer. “We have [...]
May 4, 2010 by | No Comments
The initial public offer of Jaypee Infratech, a subsidiary of Jaiprakash Associates, has been subscribed 1.2 times, as per data available on the NSE website. Issue, which closed today, has received bids for 26.67 crore equity shares as against 22.17 crore shares on offer for public and maximum bids have been received at around Rs [...]
May 4, 2010 by | No Comments
Ashish Chugh, Author of Hidden Gems is bullish on Siyaram Silk Mills and Anik Industries. He advises investors to buy into these stocks. Siyaram Silk Mills is a part of Siyaram Poddar group. This is a vertically integrated textile company. This company has got in-house facilities for spinning, dyeing, weaving, finishing and also garmenting. The [...]
May 4, 2010 by | 1 Comment
The Securities & Exchange Board of India (Sebi) has announced guidelines for credit rating agencies in order to impart higher credibility to the processes and procedures associated with the credit rating. The new guidelines include a number of stringent additional disclosure norms. Sebi has directed that a credit rating agency (CRA) shall keep record of [...]
May 3, 2010 by | No Comments
Issue Opens on: April 29, 2010 Issue Closes on: May 04, 2010 Bid Lot: 50 Shares & in Multiple of 50 shares Price Band: Rs.102 to Rs.117 Issue size: Rs 1650 crore IPO Rating: CARE IPO Grade 3/5 Jaypee Infratech Ltd, which is part of the Jaypee group, was incorporated in 2007 and is engaged [...]
April 29, 2010 by | 1 Comment
Edelweiss has recommended subscribers to ‘Subscribe’ to the initial public offering of Satluj Jal Vidyut Nigam at the lower end of the price band. “The IPO has been priced at Rs 23-26, implying 1.4–1.6x trailing P/BV. Based on ~19% RoE on project equity, cash balance of Rs 15 billion and assuming 12% cost of equity [...]
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