Chemplast Sanmar announces split stock in 1:10 ratio
Mumbai: Chemplast Sanmar, the flagship company of the Sanmar Group, with business interest in PVC and Chlorochemicals has decided to split its equity shares in 1:10 ratio, whereby shares of Rs10 each would be split into 10 shares of Re1 each, subject to shareholders approval, the company informed the Bombay Stock Exchange.

The company also plans to invest Rs450 crore for setting up a green field 170,000 TPA PVC (polyvinyl chloride) project at Cuddalore.
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Rights issue from ITD Cementation
Mumbai: ITD Cementation India, a construction business company, plans to issue equity shares up to Rs75 crore on rights basis.

The right shares will be inclusive of premium to be decided by the directors at a later stage, subject to shareholders approval, the company informed the Bombay Stock Exchange.
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DS Kulkarni to offer 1:2 rights isssue
Mumbai: DS Kulkarni Developers has decided to issue shares on a rights basis in 1:2 ratio. The board of the company has approved the rights issue where one equity share would be issued for every two equity shares held by the shareholders, constituting 55 lakh shares of the company, DS Kulkarni informed the BSE.

The equity shares to be issued on rights basis are priced at Rs110 each, at a face value of Rs10 each with a premium of Rs100 per share.
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HDFC Securities predicts 15 per cent return from markets; 2006
Mumbai: HDFC Securities has said that it expects the Indian equity markets to give a return of 15 per cent in 2006 on the back 15-17 per cent corporate earnings growth in the services and manufacturing sectors.

The securities firm also expects the markets to be very volatile during the year and estimates the Sensex to reach 11,000 points by the end of the year after hitting a bottom of 8,250, or even a rock bottom of 7,000 points during the year. The company forecasts 8

per cent GDP growth during the financial year fuelled by a consumption-led domestic demand growth.
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Entertainment Network IPO launch on Jan. 23
Mumbai: Private FM radio broadcaster, Entertainment Network India promoted by Bennett Coleman and Co, is coming out with its initial public offer of 1.2 crore shares in order to raise Rs194.4 crore at the upper price band and Rs172.8 crore at the lower band.

The price band of the issue has been fixed between Rs144 and Rs162 per share, with the issue slated to open on Jan 23, and close on Jan 27. The issue has also earmarked 12 lakh shares as a green shoe option.

Out of 1.2 crore shares, two lakh shares are reserved for the employees. Retail investors will get 35 per cent of total issue, qualified institutional buyers 50 per cent, and non-institutional investors 15 per cent.

ENIL is currently present in seven cities, which include all four metropolitan cities and Ahemadabad, Indore and Pune. The company recently won bids for seven more cities, which include Bangalore, Hyderabad, Nagpur, Kanpur, Lucknow, Surat and Jaipur.

JM Morgan Stanley and Enam Financial Consultants are the lead managers to the issue.
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