Infosys breaks into Rs1-trillion M-cap league
Mumbai: IT major, Infosys Technologies, entered the Rs1 trillion market-cap league, along with companies like ONGC, Reliance Industries and NTPC on Thursday.

At the end of the Aug 31 intraday session, Infosys' market capitalisation surged to Rs1,00,148 crore, making it the fourth company in the Indian capital market with a market cap of over Rs1 lakh crore.

PSU major ONGC is at the top with a market cap of over Rs1.73 lakh crore, followed by RIL with a market cap of about Rs1.55 lakh crore.

NTPC is the third-largest domestic company with a market cap of about Rs1.02 lakh crore.

After RIL, Infosys has become the second private sector company to have gained a market cap of over Rs1 lakh crore.
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DLF's Rs13000-cr IPO stands withdrawn for present
Mumbai: Realty development behemoth DLF's Rs13,000 crore initial public offering (IPO) has been withdrawn for the present.
DLF has withdrawn its draft red herring prospectus (DRHP) and is likely to resubmit it in another 30-45 days.

Company officials the withdrawal is just to revise the DHRP which will be updated with the latest information and an audited report. The company had filed its IPO papers with the Securities & Exchange Board of India (Sebi) in May 2006. The issue proceeds were to be used for expansion (including land acquisition), construction and for prepayment of loans.
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LIC to pay dividend under two schemes
Mumbai: LIC Mutual Fund Asset Management has declared a dividend of 1 rupee per unit each under LICMF Balanced Fund and LICMF Unit Linked Insurance Scheme. The record date has been fixed as September 5.

The fund house plans to charge a flat entry load of 2.25 per cent under LICMF Index Fund Plans with effect from September 1, it said. Earlier, LIC MF was not charging any entry load for investments above Rs1 crore. The asset management company said it would not charge any entry load for switches among its pure equity oriented schemes. The fund house managed funds worth Rs987 crore as on July 31, 2006, according to data from the Association of Mutual Funds in India showed.
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GE Shipping's demerger date extended
Mumbai: The Bombay High Court has extended the date of demerger of Great Eastern Shipping's offshore division by a period of three months. Following the lapse of the legal deadline of August 2 for demerging the offshore services business into a separate company (Great Offshore Ltd), GE Shipping had decided to apply to the High Court to extend the date. The shipping company also said it believed it could obtain remaining approvals to complete the demerger process within the extension period.

In filing on the BSE, it said the Bombay High Court after considering the company's request approved extension of the scheme of arrangement (demerger) by a period of three months.
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Maharashtra Seamless allots shares upon FCCB conversion
Mumbai: Maharashtra Seamless informed the BSE that the board at its meeting held on August 30 has allotted 6,01,454 equity shares of Rs5 each at a premium of Rs248.34 per share upon exercise of conversion option for 3,500 Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of $1,000 each into equity shares.
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Geojit Financial gets shareholders nod for stock split
Mumbai: Geojit Financial Services has received shareholders approval for splitting the equity shares of the company in the ratio of 1:10.

The AGM held today approved the stock split, where the equity shares of Rs10 each would be split into ten equity shares of Re1 each, the company informed the BSE.

Shares of the financial services company closed down 4.22 per cent at Rs210.10 on the BSE today.
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Gail gets shareholder approval for 100 pc dividend
Mumbai: State-run Gail India said its shareholders have approved the payment of 100 per cent dividend for the financial year ended on March 31.

This includes an interim dividend of 60 per cent already paid in January and special interim dividend of 20 per cent paid in February 2006, the company informed the Bombay Stock Exchange.
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