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7% Dividend yield.
Posted by :
Guest
dont post wrong messages i have gone through the outcome of egm promotors have issued them selves 25 lacs warrant to be converted in to equity after 18 months only and their initial investment is just 10% only on these 25 lacs warrant
i fully agree with the views of karan that this is totally injustice to minority public shareholders of man industries that promotors issued them selves shares at price of just rs 35 when book value of their shares are rs 70 per share...
NSE Announcements on Man Industries
Posted by : MMB MessengerMan Industries (India) Ltd. has informed the Exchange that the shareholders of the Company at its Extra-ordinary General Meeting held on June 19, 2009 has approved issuance and allotment of 25,00,000 Warrants that are convertible into fully paid up equity shares of face value of Rs. 5/- each, on one equity share for every warrant held, within a period of 18 months from the date of allotment, at a price of Rs. 35 per equity share at the option of such warrant holder. The persons to whom the warrants are issued are promoters and persons forming part of the promoters group....
BSE Announcements on Man Industries
Posted by : MMB MessengerMan Industries India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 19, 2009, inter alia, has approved issuance and allotment of 25,00,000 Warrants that are convertible into fully paid up equity shares of face value of Rs 5/- each, on one equity share for every warrant held, within a period of 18 months from the date of allotment, at a price of Rs 35/- per equity share at the option of such warrant holder. The persons to whom the warrants are issued are promoters and persons forming part of the promoters Group....
7% Dividend yield.
Posted by : jdosvdIam not sure.............to take the stock at 35 with a 3 year lock in period is risky,anyhow it does also show their confidence.I would take the stock now at 42 without lock in period. Anyhow in another 60 seconds the promoter is coming on CNBC-TV. Lets see what he says..........
NSE Announcements on Man Industries
Posted by : MMB MessengerMan Industries (India) Ltd. has informed the Exchange that: 1) Board of Directors, at their meeting held on June 19, 2009 recommended a dividend of 30% i.e. Rs. 1.50 per share for the year 2008-09 subject to approval by the shareholders of the company. 2) The decision on the day, date, time and venue of the Annual General Meeting and the book closure dates has been deferred to the next meeting of the Board of Directors of the Company....
7% Dividend yield.
Posted by : Guest
if you need better dividend yields buy supertannery ltd bse code no 523842 at price of rs 5 which is giving stable dividend @ 10% WITHOUT BREAK SINCE 1993 supertannery is again strong bonus candidate in near furure and management have also planning to list supertannery shares in nse also in near future
supertannery main competetor are bata india and are world leader manufacturing world class industrial leather safety shoes in india...
7% Dividend yield.
Posted by :
karan patni
issuing of warrant to be converted at just price of rs 35 per share to promotors is totally wrong doing and injustice to minority public shareholders by management of man industries
promotors are aware that book value of man industries shares are rs 70 approx so how they can allot themselves warrant at rs 35 which is 100% discount of their existing book value
i still dont understand why major public shareholders like mutual funds fiis and domestic financial institutions are not objecting strongly...
7% Dividend yield.
Posted by : jdosvd
OK results just out of the oven...........last quarters results are good with 80% increase in sales and 25% increase in NP year over year......and quarter over quarter sales have increased by 40% and NP by 84%...........yearly sales have increased by 25% and NP decreased by 70%.......showing the overall sluggishness of the year.
With the economy showing promise going into the future and the space looking with promise one could accumulate at 40 and below.Promoters are taking the stock at 35 hence if it gets there its a buy as downward risk would be low....
BSE Announcements on Man Industries
Posted by : MMB MessengerMan Industries India Ltd has informed BSE about the audited Standalone Financial Results for the Quarter & Year ended March 31, 2009 and Audited Consolidated Financial Results for the Year ended March 31, 2009....
7% Dividend yield.
Posted by : jdosvd
EGM of the company is presently on as I type and company has an hour back declared 30% dividend which works out to almost 7% dividend yield on the present market price.Yield is good and if the stock falls one should buy for better dividend yield.
However results are not yet out.
Promoters are also issuing themselves warrants at Rs 35 a share(lock in period--3 years) based on average 6 month price of the script at Rs 32....
BSE Announcements on Man Industries
Posted by : MMB Messenger
Man Industries India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 19, 2009, inter alia, has transacted the following:
1. Dividend, is recommended by the Board of Directors @ 30% to be distributed to the shareholders of the Company subject to their approval in AGM.
2. The decision on the day, date, time and venue of the Annual General Meeting and the book closure dates has been deferred to the next meeting of the Board of Directors of the Company....
Quit MAN Industries – Target of 25/- to 30/- is ideal
Posted by :
warren__buffetGAIL informs HC: has cancelled tenders for Dahej-Vijaipur pipeline - Man Industries had offered $907 per tonne to be the lowest bidder in three of the four sections in which DVPL project was divided. Jindal SAW was the lowest bidder in the fourth section, quoting $680. Opposing ASG’s submission, senior counsel Dushyant Dave appearing for Man Industries requested the court to maintain ‘status quo’ over the tender and alleged the PSU had suppressed the information regarding direction of CVC to stop the bids. GAIL had on the evening of June 8 asked Man and other bidders to submit revised lower bids by June 10 on account of global reduction in steel prices. ...
Sell MAN Industries – Cancels plan to build plant in Arkansas
Posted by : warren__buffetArkansas Plant Cancelled - Pipe manufacturer Man Industries India is shelving its plan to build a $100-million plant in Arkansas, a year after announcing the project that would have created over 250 jobs. "Right now, it is our understanding that Man is not proceeding with their US manufacturing facility," Arkansas Economic Development Commission spokesperson Scott Hardin was quoted as saying in the Arkansas Democrat Gazette. Mumbai-based Man Industries had said in March 2008 that it would open a $100-million plant along the Arkansas river in the state`s capital Little Rock. Hardin said he believed that the project had been shelved due to lack of financing given the current global economic scenario. The state had promised the firm $3.5 million in incentives, but no money had ever been handed over, he added....
Exit MAN before it falls to Rs. 35/- next week
Posted by : warren__buffetVerdict on July 02, 2009 - A division Bench of Justice Manmohan Singh and Justice Suresh Kait issued the order on a Man Industries petition filed after GAIL sought `revised reduced bids` to exploit declining steel prices. Man Industries was the lowest bidder in three sections but GAIL found its price higher than the one bid by Jindal SAW for the fourth section and so invited revised bids. The bench also said it would pass its verdict on July 2. On Wednesday, additional solicitor-general Parag Tripathi appearing for GAIL told the court that to avoid any controversy; the firm has scrapped tenders for three sections of DVPL in which Man Industries was the lowest bidder. During Thursday`s proceedings, Tripathi contended that though Man Industries was the lowest bidder GAIL as per terms and condition of the tender reserved the right to cancel or re-tender the project. He also submitted that GAIL being a state-run company can write or rewrite the terms and condition of the tender in which public revenue is benefited. ...
Buy MAN industries (05-06-09): Be and make
Posted by : tara23because i entered at 20 odd levels and exited at 48 levels....not that i am genius... and it is not a blind target...
