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Andhra
Bank registers as DP with CDSL
Hyderabad: Andhra Bank is now a registered Depository
Participant (DP) of CDSL. With this registration, CDSL's
list of DPs has now reached 293.
A
DP enables in-house settlement management for brokers
and allows banks to deliver more services to clients.
Andhra
Bank provides service through 1,709 business delivery
channels, including branches, ATMs, etc.
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Indiabulls
buyback price not to exceed Rs.210
Mumbai:
Indiabulls Financial Services has decided to buy back
its equity shares from the open market at a price not
exceeding Rs210 per share.
The
board of the company has approved the proposal for the
buyback to the extent of 10 per cent of the paid-up capital
and free reserves. The maximum amount set aside for the
buyback is Rs38 crore.
On
Friday, the stock price of the company rose 1.97 per cent
at Rs168.55 on the BSE.
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JP
Morgan Asset Management (Europe) increases stake in Dr
Reddy's
Hyderabad: JF Asset Management Ltd has informed
the stock exchanges that JP Morgan Fleming Asset Management
(Europe) has acquired 2 lakh shares of Dr Reddy's Laboratories
Ltd, aggregating 0.26 per cent of the total paid-up capital
of the latter.
The acquisition through open market was executed on November
11.
The
shareholding of JP Morgan Fleming Asset Management (Europe)
after the latest acquisition now stands at 38,95,806 shares,
aggregating 5.09 per cent of the total paid-up capital
of Dr Reddy's Labs.
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RBI
allows FII buys in Centurion Bank
Mumbai: The Reserve Bank of India has said that
Foreign institutional investors, non-resident Indians
and persons of Indian origin can now purchase shares of
Centurion Bank of Punjab through stock exchanges under
the Portfolio Investment Scheme.
The
RBI said that post merger of Centurion Bank with Bank
of Punjab, as of October 1, the paid-up capital of the
bank has increased.
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Shirt
Co plans public offer
Mumbai: Shirt Company (India), an apparels manufacturer,
plans to enter the primary market with 25 lakh shares
of Rs10 each at a price to be determined through book-built
process.
The
proceeds of the issue would be utilised in expanding the
existing garment making capacities of the company and
setting up a textile-processing unit, a company release
said.
The
company is also planning to foray into exclusive retail
stores for its branded products and marketing its products
and retire the existing bank borrowings. The lead manager
to the issue is Karvy Investor Service.
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Piramyd
Retail fixes IPO price at Rs.120
Mumbai: Piramyd Retail, whose IPO has been subscribed
11.62 times, has fixed its issue price at Rs120 per share.
The
company entered the capital market with an initial public
offering of 90 lakh shares at a price band of Rs120 to
Rs140. The issue closed on November 16.
The
company intends to deploy the net proceeds from the issue
of shares for funding capital expenditure, upgradation
of IT infrastructure and repayment of bridge loans.
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Patel:
IA, AI not to offload more than 20 per cent stake
New
Delhi: Public sector carriers Air India and Indian
Airlines will not offload more than 20 per cent of their
equity in their proposed initial public offer (IPO) to
be announced this fiscal said the civil aviation minister,
Praful Patel at the Economic Editors Conference here.
Their
public sector status will be maintained he said. The employees
would also be given stock options.
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Chidambaram:
UTI-I has set aside assets to repay bonds'
New
Delhi: Finance minister, P Chidambaram, has said the
Specified Undertakings of the Unit Trust of India (SUUTI)
has set aside assets to repay the 6.75-per cent US-64
bonds and the 6.6-per cent Assured Returns Scheme (ARS)
bonds issued in May 2003. The bonds would mature in 2008-09.
The
FM said, "SUUTI has issued tax-free bonds (the two
types of bonds) of Rs14,500 crore guaranteed by the Government.
Chidambaram
was speaking at a function where the four sponsors of
UTI Mutual Fund (LIC, SBI, PNB and BoB) handed over the
consideration to the Government to take over control of
the fund.
The
FM said this was the culmination of Government's efforts
to restructure UTI and the asset management fund will
now operate as a private sector mutual fund competing
with the rest of the industry under the regulation and
supervision of SEBI.
The
four sponsors handed a total amount of Rs1,239.95 crore
to the Government, with each paying a quarter of the amount.
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Patni
issues 6.87mn ADSs
Mumbai: Patni Computer Systems has filed a registration
with US Securities and Exchange Commission (SEC) for its
initial public offering of 68,75,000 American Depository
Shares (ADSs).
The
offering, where each ADS is represented by two equity
shares of Rs 2 each, includes a primary offering of 51,25,000
ADSs and an offering of 17,50,000 ADSs by the selling
shareholders under sponsored ADS offering, the company
informed the exchanges.
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