Rel Cap makes open offer for TV Today at Rs130.50/shr
New Delhi: Reliance Capital controlled by Anil Dhirubhai Ambani has made an open offer to buy 20 per cent equity stake from the existing shareholders of TV Today, which runs TV channels Aaj Tak, Headlines Today and Tez.

The Reliance group company has offered to buy the shares at Rs130.50, amounting to approximately Rs150 crore, which works out to a 7 per cent discount to TV Today share price of Rs140.20 on April 17.

Reliance Capital has already increased it stake in the TV company from 12 per cent to 15 per cent through secondary market operations. Under Sebi guidelines, any entity which buys more than 15 per cent in a company has to make an open offer under the guidelines.

Living Media, which also owns the India Today group of publications, controls over 55.69 per cent equity of TV Today.
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Areva extends REpower offer period
Frankfurt: Areva SA, the largest manufacturer of atomic power stations globally, has extended its offer period for German wind-turbine builder REpower Systems AG theerby gaining extra time to consider topping a bid by Suzlon Energy.

Areva has dropped the requirement that at least 50 per cent plus one share be tendered, which allows it to stretch the deadline to May 4 from April 20, the company said. It did not announce a higher bid.

Tulsi Tanti promoted Suzlon beat Areva's bid on April 10 with an offer of euro 150 per share. The two companies are competing to gain wind power production as governments seek to cut carbon emissions linked to global warming and reduce dependence on oil.
Areva already owns 30 per cent of REpower. Suzlon is bidding along with Martifer, a unit of Portuguese builder Mota-Engil SGPS SA that owns a quarter of REpower. Suzlon has bought a 7.7 per cent stake in the Hamburg-based wind turbine builder.

Suzlon's offer beat Areva's bid of euro 140 per share, and Suzlon's latest price values REpower at euro 1.2 billion.
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UTI Goldshare lists on NSE
Mumbai: UTI's Goldshare, a gold exchange traded fund has been listed on the National Stock Exchange. UTI said every 'Goldshare' represents approximately 1 gram of pure gold. Goldshare offers investors a new, innovative, relatively cost-efficient and secure way to access the gold market without the necessity of taking physical delivery of gold. Investing in Goldshare is more tax-efficient than investing in physical gold.
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Tata Steel board approves raising funds for Corus acquisition
Mumbai: Tata Steel will sell equity shares worth $2.3 billion in domestic and overseas markets, apart from a $6.1 billion in debt to fund acquisition of Anglo-Dutch firm Corus Group Plc.

The board of directors of the company has cleared a host of proposals such as a rights issue, a convertible preferential shares issue and an overseas equity-related issue to raise a total of $12.9 billion.

Tata Steel plans to raise $4.1 billion in equity and $6.14 billion in long-term debt from banks. It will arrange $2.66 billion through a mix of quasi-equity and capital funding at its subsidiary Tata Steel Asia Singapore.
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Gold prices fall due to profit booking
New Delhi: Gold prices fell on the bullion market due to profit booking by stockists amid reports of a weakening trend in international markets. Gold recorded a fall of Rs130 at Rs9410 per ten gram. Trading sentiment turned weak on reports that the precious metal fell from 11-month high levels in London as traders felt a rally in gold was excessive and booked profits.

Gold had touched 691.26 dollar an ounce on April 16, the highest since May 18, as the dollar fell to a two-year low against the euro on speculation European economic growth will outpace that of the US.

While gold lost 2.55 dollar to 687.65 dollar an ounce in London, silver fell 5 cents, or 0.4 per cent, to 14 dollar an ounce.

Standard gold and ornaments lost Rs130 each at Rs9470 and Rs9320 per ten gram respectively. Sovereign was unchanged at Rs7850 per piece of eight gram.

Silver ready dropped by Rs325 at Rs19,725 per kilo and weekly-based delivery lost Rs150 at Rs20,020 per kilo.

Silver coins also lost Rs100 at Rs24,700 for buying and Rs24,800 for selling 100 pieces.
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