Rama Newsprint to be re-listed on September 20
Kolkata: Equity shares of Rama Newsprint and Papers (RNPL) will be re-listed in the National Stock Exchange and the Bombay Stock Exchange from Wednesday (September 20.) The company has issued 5.81 crore equity shares of Rs 10 each pursuant to the reduction in capital as per the scheme of arrangement of the company.

The paid-up equity capital of the company before reduction of capital was about Rs232 crore consisting of 23.26 crore equity shares of face value of Rs10 each fully paid-up.

Pursuant to the scheme, the paid-up equity capital of the company stands reduced by cancellation of Rs7.50 of every equity share of Rs 10 each fully paid-up and simultaneously thereafter four such fully paid-up equity shares of Rs2.50 each have been consolidated into one fully paid-up equity share of Rs10 each.

In respect of shares held in physical form, the company has issued new certificates without surrender of the old equity share certificates and accordingly the old share certificates shall stand cancelled. The equity shares in dematerialised form after the scheme of arrangement has been credited in the new ISIN No.INE278B01020.

According to sources, the company had shown substantially improved results for the Q1 ended June 2006 as its net sales has increased by 33 per cent to Rs 89.05 crore from Rs66.85 crore in the corresponding quarter of the previous year. Profit before depreciation, tax and extra-ordinary items jumped by 232 per cent to Rs24.77 crore against Rs7.45 crore in previous year's corresponding quarter.
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Azim Premji picks 2 lakh shares in Birla Corp
Koilkata: Azim Premji chairman Wipro has bought two lakh shares in Birla Corporation according to the chairman of the company R S Lodha.

he said investment in Birla Corporation by investors like Premji showed the confidence they had in this company.

Birla Corporation is in the news since 2004 for the legal battle being waged between the Birla family and RS Lodha for control of the Rs5,000 crore of assets of the M P Birla group.

R S Lodha took over the operations of Birla Corp after the death of Priyamvada Birla.

During 2005-06, the company registered an income of Rs1,228.61 crore and a net profit of Rs125.8 crore.
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HDFC Mutual waives off entry, exit loads for FIIs
Mumbai: HDFC Asset Management Company is waiving off entry or exit loads on investments made by foreign institutional investors (FIIs) and their sub-accounts under its equity funds comprising HDFC Equity, HDFC Top 200, HDFC Capital Builder, HDFC Growth, HDFC Premier Multi-Cap and HDFC Core & Satellite.

The changes would come into effect from Sept 22, said the fund house, which had about Rs242 billion of assets under management at August end.

On Monday, Franklin Templeton Asset Management (India) Pvt Ltd had announced waiver of entry and exit loads for FIIs under its Franklin India Prima Plus fund.
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