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TCS
regains top slot in IT companies
New Delhi: Tata
Consultancy Services has again pushed aside Infosys
to emerge as the top IT company in terms of market capitalisation.
TCS now has a market capitalisation of Rs72,163.83 crore
as compared to Infosys's Rs71,940.21 crore.
In
today's trading session the share price of TCS gained
1.26 per cent to end at Rs1,503.10 while Infosys lost
1.42 per cent to end the day at Rs2,643.50.
TCS
is again in the news because of its joint venture with
the State Bank of India, with an authorised capital of
Rs40 crore. The company will hold 51 per cent stake in
the JV.
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Karur
KCP FCCBs issue to fund expansion plans
Mumbai: Karur KCP Packagings is planning to raise
Rs70 crore to fund its expansion program.
The
company's board of directors has approved the issue of
foreign currency convertible bonds (FCCB) or global depository
receipts (GDR) or other convertible instruments up to
Rs70 crore.
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Electrotherm
to raise Rs.100 crore from overseas
Mumbai: Electrotherm (India), maker of all kinds
of furnaces and induction heating equipment, is planning
to raise Rs100 crore through an issue of securities in
overseas markets.
The
shareholders of the company have approved the issue of
foreign currency convertible bonds, global depository
receipts or other securities convertible into equity shares
of Rs10 each for an amount not exceeding Rs100 crore,
subject to necessary approval.
It
was also decided at the company's EGM that foreign institutional
investors and their sub-accounts in the shares or debentures
of the company, or the aggregate FII holdings put together
shall not exceed 49 per cent of the paid up equity share
capital.
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Hindalco's
rights issue priced at Rs.96 per share
Mumbai:
Hindalco
Industries has fixed the price of the shares to be
issued on rights basis to raise Rs2,500 crore at Rs96
per share, the company informed the Bombay Stock Exchange.
The
share ratio for the rights issue is to be 1:4 i.e., one
share of Re1 each for every four equity shares of Re 1
held by the shareholders.
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HSBC
Global Fund picks up 13 per cent stake in Usha Martin
Mumbai:
HSBC
Global Investment Funds has acquired 57,79,010 shares
of Usha
Martin on October 24, aggregating to 13.06 per cent
of its total paid up capital, the company informed the
National Stock Exchange. The mode of acquisition was through
GDR issue.
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