IOC fixes Book Closure for Dividend & AGM
Announcement: Indian Oil Corporation (IOC) Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 11, 2008 to September 19, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Corporation to be held on September 19, 2008.

v.krishnamoorthy
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To pythagoras
Do you refer to privatisation or regrouping of existing PSU banks to make it a big and stronger? I read that some private banks are vulnerable for take over when more FIIs are allowed in banking sector? I solicit your clarification. Thanks.
V.Krishnamoorthy.
...

Tata Motors scraps convertible share issue
MUMBAI (Reuters) - Tata Motors Ltd, India's top vehicle maker, said on Wednesday it would scrap a planned 30 billion rupees ($686 million) convertible preference share issue due to weak stock markets and instead raise funds by selling some investments.
However the plan to sell rights shares worth 42 billion rupees stands, said the company, which is raising money to fund its $2.3 billion acquisition of Jaguar and Land Rover from Ford Motor Co.
The board of directors decided on the move, "taking into account the current situation in the capital markets and the change in level of prices in the stock markets since May 2008," it said in a statement.
Tata Motors shares, which ended 0.2 percent up at 424.05 rupees in the Mumbai market, are down 27 percent since May 29 when it announced the fund raising plan. The main share index has slid 10 percent during the period.
The company said it plans to sell its investments in a phased manner, preferably to group firms, at prevailing market prices over the next 6-8 months.
.The company, part of the conglomerate Tata group, said in July it had sold a 24 percent stake in its auto component unit to an associate firm and booked a profit of $27 million.
Tata Motors had planned to raise up to 72 billion rupees through three simultaneous but unlinked securities issues but now plans to go ahead only with the sale of two classes of rights shares, it said.
Funds raised through share sales in India in the first six months of 2008 fell 66 percent from a year earlier to $5.85 billion hurt by falling stock markets, Thomson Reuters data showed. The main share index is down 28 percent in 2008.
Hindalco Industries, India's top aluminium maker, last week said it would offer more rights shares than planned to after the stock market slide soured pricing. It hopes to raise $1.2 billion.
Source: yahoo ind news

v.krishnamoorthy...

Tata Motors scraps convertible share issue
MUMBAI (Reuters) - Tata Motors Ltd, India's top vehicle maker, said on Wednesday it would scrap a planned 30 billion rupees ($686 million) convertible preference share issue due to weak stock markets and instead raise funds by selling some investments.
However the plan to sell rights shares worth 42 billion rupees stands, said the company, which is raising money to fund its $2.3 billion acquisition of Jaguar and Land Rover from Ford Motor Co.
The board of directors decided on the move, "taking into account the current situation in the capital markets and the change in level of prices in the stock markets since May 2008," it said in a statement.
Tata Motors shares, which ended 0.2 percent up at 424.05 rupees in the Mumbai market, are down 27 percent since May 29 when it announced the fund raising plan. The main share index has slid 10 percent during the period.
The company said it plans to sell its investments in a phased manner, preferably to group firms, at prevailing market prices over the next 6-8 months.
.The company, part of the conglomerate Tata group, said in July it had sold a 24 percent stake in its auto component unit to an associate firm and booked a profit of $27 million.
Tata Motors had planned to raise up to 72 billion rupees through three simultaneous but unlinked securities issues but now plans to go ahead only with the sale of two classes of rights shares, it said.
Funds raised through share sales in India in the first six months of 2008 fell 66 percent from a year earlier to $5.85 billion hurt by falling stock markets, Thomson Reuters data showed. The main share index is down 28 percent in 2008.
Hindalco Industries, India's top aluminium maker, last week said it would offer more rights shares than planned to after the stock market slide soured pricing. It hopes to raise $1.2 billion.
Source:yahoo india news

v.krishnamoorthy...

add....

Analysts tracking the sector sounded bullish on the proposed IPO. "It is a highly rated public sector undertaking and will enthuse investor interest in the primary market," said Amitabh Chakraborty, president (equity), Religare Enterprises. "The IPO is expected attract long-term foreign institutional investors along with retail participants and will bring in depth into the market.
" The public offer was delayed for want of the stipulated number of independent directors on the company's board. SEBI's listing norms stipulate that half the board of a listed company should comprise independent directors.
NHPC's net profit during 2007-08 stood at Rs.1,004 crore-up from the previous year's Rs.
925 crore. It has an installed capacity of 5,200 MW generated from 13 of its hydro power plants and plans to increase its generation capacity to 11,000 MW by 2012 from 5,200 MW now.
The company plans to invest Rs 90,000 crore in new projects over the next ten years. About 10 hydroelectric power plants of the company are under various stages of implementation, including the country's largest hydroelectric project -- a 2,000 MW plant at Subansiri in Arunachal Pradesh.

v.krishnamoorthy...

NHPC IPO to hit market on October 13
Thu, Aug 21 12:50 AM

The much-awaited initial public offering of shares by state-run NHPC - formerly known as National Hydro Power Corporation - is expected to hit the market on October 13. The company plans to list its shares on the stock exchanges on November 6, said, a senior NHPC official said on condition of anonymity.

According to the official, the company\\`s board of directors will recommend the price band for the proposed public offer, IPO, at a meeting slated for September 16, and will seek the approval of Empowered Group of Ministers\\` for price fixation within the next two days. A weeklong investor road show in cities within the country and abroad is planned from September 29.

NHPC Chairman SK Garg could not be reached for comments despite repeated attempts. The company filed its offer document with the capital markets regulator, Securities and Exchange Board of India (SEBI) earlier on August 6.

NHPC plans to issue 167 crore equity shares of Rs 10 each. This would result in the dilution of 15 per cent of the government\\`s holding in the hydroelectric power major.

Currently, the government owns 100 per cent of the company. NHPC has a paid-up capital of Rs 11,500 crore, comprising of 1,150 crore equity shares of Rs 10 each.

Analysts tracking the sector sounded bullish on the proposed IPO. \\\\...

Dear Mr.Kima,
Please acept my thanks. I shall do my best and take due care to post mails.
with kind regards,
v.krishnamoorthy ...

There is abosolutely no information about this Pyxis Solutions,LLC, a new york limited liability company , expect that it is in the core business of testing etc. Do you have any information about the last 3 year record of this company, their clientelle,turnover, revenue etc etc.what is BAT's role in this accquisition through ITC Infotech (USA)Inc, what is this 12A & 13L ,Subsidary to the subsidary etc, something fishy washy in real sense. I feel the minority investors i.e. the public will probably have the right to know the details of the same deal etc,I dont know what the corporate law has to say on the foriegn subsidaries of Indian companies are they governed by the laws of the country they are loacated. It is always beter for ITC has a scrip to see a bottom at Rs.150.00 160.00 , consolidate from there and the move beyond Rs.200 to Rs.220.00 , otherwise it will remain a range bound stock tugged away between 160.00 to 194.00....

add.... Analysts tracking the sector sounded bullish on the proposed IPO. "It is a highly rated public sector undertaking and will enthuse investor interest in the primary market," said Amitabh Chakraborty, president (equity), Religare Enterprises. "The IPO is expected attract long-term foreign institutional investors along with retail participants and will bring in depth into the market. " The public offer was delayed for want of the stipulated number of independent directors on the company's board. SEBI's listing norms stipulate that half the board of a listed company should comprise independent directors. NHPC's net profit during 2007-08 stood at Rs.1,004 crore-up from the previous year's Rs. 925 crore. It has an installed capacity of 5,200 MW generated from 13 of its hydro power plants and plans to increase its generation capacity to 11,000 MW by 2012 from 5,200 MW now. The company plans to invest Rs 90,000 crore in new projects over the next ten years. About 10 hydroelectric power plants of the company are under various stages of implementation, including the country's largest hydroelectric project -- a 2,000 MW plant at Subansiri in Arunachal Pradesh. v.krishnamoorthy...

add... Wednesday, August 20, 2008 'Large US banks may fail amid recession' “The worst is yet to come in the US,” says IMF's former chief economist. The US housing slump has triggered more than $500 billion of credit market losses for banks globally Singapore: Credit market turmoil has driven the US into a recession and may topple some of the nation’s biggest banks, said Kenneth Rogoff, former chief economist at the International Monetary Fund. “The worst is yet to come in the US,” Rogoff said in an interview in Singapore today. “The financial sector needs to shrink; I don't think simply having a couple of medium-sized banks and a couple of small banks going under is going to do the job.” This just for the attention of bank employees and public as seen in Bus.Std. v.krishnamoorthy...

Hello Sir, This being an open platform for general discussion all are welcome to air their views. Some people take advantage of this facility to misguide others by giving false information or targets (like 390 or 160) to achieve their nefareous means. Whereas, others like yourself who genuinely in the interest of other investors divulge important information which they feel will affect the future course of markets and if they receive any crticism for being pessimistic or otherwise that is no reason to loose heart. Each person has different viewpoints so there would be brickbats as well as plaudits that one has to take in his stride. What we require on this platform are more intelligent people like yourself to air their views and information so that this site becomes a storehouse of important information for the benefit of others and for a healthy and beneficial ongoing discussion. Sir, you must keep up the good work. However, my viewpoint is, irrespective of the bank closing for 3 days, inflation, recession in U.S., weak Rupee and so on, Indian markets are controlled by some extremely powerful forces who can make it go up or down at will. Otherwise, how can one explain Opto falling yesterday from 352 to 336 and today rising from 336 to 359 and likewise other shares. I may be proved wrong but I would like to predict here that by record date in end Oct. Opto would have definately crossed 500 in the least. With best regards, RFB ...

Interim Dividend @ 350% already paid . I received it yesterday...

In its balance sheet for the year to March 2008, the Unitech management has sounded a cautionary note. “It is quite clear that after a fairly long bull run, the real estate sector in India has begun to show signs of slowing down to a more realistic equilibrium rate of growth. The first signs of market slackening were evident in the second half of FY08. The correction has become more pronounced thereafter.” It is report quoted from the balance sheet. let the investors may bear this in mind v.krishnamoorthy...

Dear Sir, Today I have received the 2007-08 Annual Report of Reliance Capital, in which a dividend of 55 per cent ie Rs.5.50 per share has been recommended subject to the approval of the AGM to be held on 16-9-08. Sridharan...