Tata Motors to invest Rs 4 bn in Argentina
Source: IRIS NEWS DIGEST (22 September 2006)
Tata Motors plans to invest about Rs 4 billion in Cordoba in Argentina. The largest auto maker is putting up a beachhead to penetrate the automobile markets of Latin America, reports DNA Money.
The foray into Argentina would be part of the agreement that Tata Motors signed recently with Italian auto giant, Fiat. The set-up in Argentina will assemble an economy vehicle. The investment is expected to provide 2,200 direct and indirect jobs. Tata Motors` partner, Fiat will be making motors and transmissions with a USD 50 million investment.
Tata Motors recently announced its plans to invest close to Rs 120 billion over a period of four years to set up new manufacturing facilities and launch new products in the domestic and overseas markets. The company is looking at Russia as an important market for commercial vehicles and passenger cars.
Cil Securities declares 10% dividend
Source: IRIS (22 September 2006)
Cil Securities has declared a dividend at the rate of 10% on the equity shares of the company, Rs 1 per share of Rs 10 each fully paid up.
As per the latest results, CIL Securities` net sales for the 3-months period ended 30th June, 2006 was Rs 23.50 million and its PAT was Rs 6.67 million. The company`s earnings per share on a trailing twelve month basis is Rs. 4.87. At the closing price of Rs. 13.51 on Thursday at the BSE, the company`s shares were valued at 2.77 times earnings on a trailing twelve month basis.
Prudential Sugar board to consider allotment of CRPS
Source: IRIS (22 September 2006)
The board of directors of Prudential Sugar Corporation will consider the allotment of 4 lakh 6% cumulative redeemable preference shares (CRPS) for Rs 20 million to IFCI.
The board meeting of the company will be held on September 29, 2006 to consider the allotment of redeemable preference shares.
Pantaloon Retail to issue convertible securities
Source: IRIS (22 September 2006)
Pantaloon Retail India has authorized the board to issue, offer and allot equity shares or convertible securities with or without detachable warrants or fully convertible debentures for an aggregate issue size not exceeding Rs 2600 million to prospective investors whether institutions, incorporated bodies, mutual funds through public issues, rights issues, subject to necessary provisions and approvals.
Further, the board has given the authority to issue and allot 12,12,480 warrants with an option to the warrant holder to acquire, for every warrant, one fully paid up equity share for Rs 10 each at a price of Rs 1635 per warrant aggregating an issue price of Rs 1,98,24,04,800 to the promoter group on a preferential allotment basis, on such terms and conditions, subject to necessary provisions and approvals.
The members at the extra ordinary general meeting (EGM) of the company held on September 22, 2006 approved the above mentioned issues.
Source: IRIS NEWS DIGEST (22 September 2006)
Tata Motors plans to invest about Rs 4 billion in Cordoba in Argentina. The largest auto maker is putting up a beachhead to penetrate the automobile markets of Latin America, reports DNA Money.
The foray into Argentina would be part of the agreement that Tata Motors signed recently with Italian auto giant, Fiat. The set-up in Argentina will assemble an economy vehicle. The investment is expected to provide 2,200 direct and indirect jobs. Tata Motors` partner, Fiat will be making motors and transmissions with a USD 50 million investment.
Tata Motors recently announced its plans to invest close to Rs 120 billion over a period of four years to set up new manufacturing facilities and launch new products in the domestic and overseas markets. The company is looking at Russia as an important market for commercial vehicles and passenger cars.
Cil Securities declares 10% dividend
Source: IRIS (22 September 2006)
Cil Securities has declared a dividend at the rate of 10% on the equity shares of the company, Rs 1 per share of Rs 10 each fully paid up.
As per the latest results, CIL Securities` net sales for the 3-months period ended 30th June, 2006 was Rs 23.50 million and its PAT was Rs 6.67 million. The company`s earnings per share on a trailing twelve month basis is Rs. 4.87. At the closing price of Rs. 13.51 on Thursday at the BSE, the company`s shares were valued at 2.77 times earnings on a trailing twelve month basis.
Prudential Sugar board to consider allotment of CRPS
Source: IRIS (22 September 2006)
The board of directors of Prudential Sugar Corporation will consider the allotment of 4 lakh 6% cumulative redeemable preference shares (CRPS) for Rs 20 million to IFCI.
The board meeting of the company will be held on September 29, 2006 to consider the allotment of redeemable preference shares.
Pantaloon Retail to issue convertible securities
Source: IRIS (22 September 2006)
Pantaloon Retail India has authorized the board to issue, offer and allot equity shares or convertible securities with or without detachable warrants or fully convertible debentures for an aggregate issue size not exceeding Rs 2600 million to prospective investors whether institutions, incorporated bodies, mutual funds through public issues, rights issues, subject to necessary provisions and approvals.
Further, the board has given the authority to issue and allot 12,12,480 warrants with an option to the warrant holder to acquire, for every warrant, one fully paid up equity share for Rs 10 each at a price of Rs 1635 per warrant aggregating an issue price of Rs 1,98,24,04,800 to the promoter group on a preferential allotment basis, on such terms and conditions, subject to necessary provisions and approvals.
The members at the extra ordinary general meeting (EGM) of the company held on September 22, 2006 approved the above mentioned issues.
posted by IndiaAndSenSex | Friday, September 22, 2006
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