Sterlite approves bonus issue, stock split
Mumbai: Sterlite Industries said its board has approved a bonus share issue in the ratio of one share for every share held, as well as a stock split of a share of Rs5 face value into five shares of Rs2 each.

Post the news of the bonus issue and stock split, Sterlite's shares were up 1 per cent at Rs1,479.70 in a firm Mumbai market.
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M&M Financial finalises IPO price band
Mumbai: Mahindra & Mahindra Financial Services has finalised a price band of Rs170-200 a share for bids in its forthcoming initial public offering, sources familiar with the development said on Friday.

The 20-million-share-issue would raise up to Rs400 crore (US$90mn) at the top end of the band.
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HCC to raise US$150mn in markets
Mumbai: Infrastructure development and construction company Hindustan Construction Company has decided to raise US$150mn in the international or the domestic market from the issuance of foreign currency convertible bonds (FCCBs), GDRs, secured premium notes, equity shares or other financial instruments in one or more tranches for raising the amount, the company told the Stock Exchanges.

The company had also earlier in the month bagged an order worth Rs396 crore from National Hydroelectric Power Corporation for constructing the Teesta Low Dam hydroelectric power project in West Bengal.
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Techno Electric plans stock split
Mumbai: Techno Electric & Engineering is considering a stock split plan. The board of directors will meet on February 16, 2006 to consider a proposal to split its shares, the company said on Friday.
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LML allots 24.47 lakh shares to Merrill Lynch
Mumbai: LML has allotted 24,47,486 equity shares to Merrill Lynch Capital Markets Espana SA upon conversion of 2,250 foreign currency convertible bonds (FCCBs). The allotment of shares of Rs10 to Merrill Lynch is at Rs39.99 per share including a premium of Rs29.99 each.

The 2,250 FCCBs of 1,000 dollars each, belong to Series A and are due 2008, the company informed the Bombay Stock Exchange.
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Bajaj Hindustan allots 1.46 lakh shares
Mumbai: Sugar manufacturer, Bajaj Hindusthan has allotted 1,46,983 equity shares upon the conversion of 500 foreign currency convertible bonds (FCCBs). The allotment of the FCCBs, amounting to 500,000 dollars and converted at a price of Rs147.50 per share, was approved by the GDR committee of directors at its meeting held on Thursday, the company informed the Bombay Stock Exchange.

Post allotment, the paid up capital of the company has increased to Rs14.04 crore from Rs14.03 crore.
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