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CSE submits new model for demutualisation
Kolkata: The Calcutta Stock Exchange (CSE) has come up with a fresh version for a demutualisation plan based on directions given by SEBI on the subject.

The regulator has clearly indicated that the new scheme will have to be in line with the BSE (Corporatisation & Demutualisation) Scheme.

CSE informed members on Wednesday that (following discussions with SEBI officials on July 1) the scheme has been reworked and put across for a fresh review.

The demutualisation scheme had been cleared at an EGM in July last year, but the bourse was advised to "revise and resubmit" it later.

The exchange, it may be pointed out, is currently a company limited by shares, registered under the Companies Act, 1913. It is recognised as a stock exchange by the Government under Securities Contract Regulations Act on a permanent basis.
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Uniply Industries sees record volumes on listing
Mumbai: The listing of Uniply Industries shares yesterday established a record on the BSE, registering trading volumes almost five times of the issue size.

A total of 2.4 crore shares were traded that was almost five times the issue size of 50 lakh shares and double the paid-up capital of Rs12.4 crore comprising 1.24 crore shares of Rs10 each.

The listing was also at a premium to the offer price but it was not to the extent as seen in other IPOs. The stock closed at Rs29.95 against the issue price of Rs24, a premium of 20 per cent.
Shares of Uniply are not listed on the NSE.

Of the total shares traded, 27.38 lakh shares were for delivery, which is more than 50 per cent of the shares offered in the IPO.

This is for the first time in an IPO that such a large number of shares have been traded on the first day of listing.
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Jayant Agro to pay 50 per cent
Mumbai: The board of directors of Jayant Agro-Organics Ltd (JAOL) has recommended 50 per cent dividend to its shareholders for 2004-05. The board has also approved 7 per cent dividend on preference shares, company release said.

For the quarter ended March 31, 2005, sales jumped to Rs276.20 crore against Rs85.40 crore in the corresponding period previous year. Net profit stood at Rs1.74 crore.

The company on a consolidated basis has posted a higher net profit of Rs6.47 crore for the year ended March 31, 2005 against Rs45.62 lakh in the previous year.

Consolidated net sales rose to Rs623.47 crore (Rs267.91 crore).
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