Rajesh Exports Ltd has informed that the Board of Directors of the Company at its meeting held on February 13, 2008, has approved the allotment of 147814000 equity shares of Re 1/- each of the Company as Bonus Shares by Capitalization of the profits to all the shareholders of the Company whose names appeared on the Register of Members of the Company on the record date of February 05, 2008.
Wednesday, February 13, 2008
Centum Electronics - Joint Venture Agreement with Rakon
Centum Electronics Ltd has informed that pursuant to the shareholders approval received through postal ballot for the transfer of the Frequency Control Products (FCP) Business to a new wholly owned subsidiary, the Company has signed definitive documents to transfer the FCP Business to a wholly owned subsidiary, Centum Frequency Products Pvt Ltd.
Further, the Company, on February 13, 2008, has signed definitive joint venture agreements with Rakon Ltd, New Zealand to manage the subsidiary, Centum Frequency Products Pvt Ltd to design and to manufacture Frequency Control Products (FCP) alongside the Companys existing product lines in Bangalore.
Rakon is a world leader in the development of frequency control solutions for a wide range of applications. Rakon has leading market positions in the supply of crystal oscillators to the GPS, telecommunications network timing / synchronization and aerospace markets.
The joint venture will combine Centums existing design and manufacturing capability for frequency control products with Rakons OCXO design and manufacturing expertise developed and currently undertaken in France.
In this regard the Company has issued the following Press Release:
Centum Frequency Products Pvt Ltd., a wholly owned subsidiary of the Company has entered into a Joint Venture (JV) with New Zealand based multinational Company; Rakon Ltd to design and manufacture Frequency Control Products (FCP) alongside its existing product lines in Bangalore.
Centum Electronics will hold 51% of the JV and Rakon will hold the remaining 49%. The Company will be named Centum Rakon Pvt Ltd.
Further, the Company, on February 13, 2008, has signed definitive joint venture agreements with Rakon Ltd, New Zealand to manage the subsidiary, Centum Frequency Products Pvt Ltd to design and to manufacture Frequency Control Products (FCP) alongside the Companys existing product lines in Bangalore.
Rakon is a world leader in the development of frequency control solutions for a wide range of applications. Rakon has leading market positions in the supply of crystal oscillators to the GPS, telecommunications network timing / synchronization and aerospace markets.
The joint venture will combine Centums existing design and manufacturing capability for frequency control products with Rakons OCXO design and manufacturing expertise developed and currently undertaken in France.
In this regard the Company has issued the following Press Release:
Centum Frequency Products Pvt Ltd., a wholly owned subsidiary of the Company has entered into a Joint Venture (JV) with New Zealand based multinational Company; Rakon Ltd to design and manufacture Frequency Control Products (FCP) alongside its existing product lines in Bangalore.
Centum Electronics will hold 51% of the JV and Rakon will hold the remaining 49%. The Company will be named Centum Rakon Pvt Ltd.
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Tuesday, February 12, 2008
Stock Market Commentary: Post Session
The Indian market tumbled in the final trading hours of the session to close in the negative territory. Taking the favoring cues from the global markets, the Indian market opened on a firm note but unable to sustain at higher levels and pare all its gains. The volatility gripped the market throughout the trading session. The favoring cues from the domestic scenario like India''s industrial output rose 7.6% in December 2007 from a year earlier, accelerating from the previous month''s downwardly revised 5.1% also failed to hold the gains of the market. From the sectoral front, the bankex stocks remained in the limelight as most buying is seen from these baskets. The Small Caps and Mid Caps were the most hit as they face heavy selling pressures across the counters. The BSE Sensex closed lower by 22.90 points at 16,608.01 and NSE Nifty fell by 18.75 points to close at 4,838.25. The BSE Mid Cap and Small Cap indices closed lower by 161.45 points and 266.42 points at 7,058.38 and 9,173.68 respectively.
BSE Bankex index closed higher by 122.48 points at 9,867.36. Gainers are Axis bank (6.65%), ICICI bank (2.71%), Kotak bank (2.46%), Andhra bank (2.32%), IOB (1.52%).
BSE Metal index closed marginally lower by 1.20 points at 14,273.05 as Welspun Guj (6.38%), Sesa Goa (5.82%) and JSW Steel (3.01%) closed higher while Jindal Saw (4.09%) and Jindal Stainless (3.46%) closed lower.
BSE Realty index dropped by 125.49 points to close at 9,042.84. Losers are Penland (7.93%), Ansal Infra (7.41%), Sobha Dev (3.54%), Indbul Real (3.40%), HDIL (1.75%).
BSE CG plunged by 160.86 points to close at 14,873.21. Scrips that fell are BEML (4.91%), Kalpataru Power (4.36%), Lakshmi Machines (4.12%), Punj Lloyd (3.96%).
BSE Oil & Gas index inched up by 40.52 points to close at 9,926.32. Scrips that gained are Cairn India (5.26%), HPCL (2.20%), Reliance Inds (2.17%) and Gail India (1.09%).
BSE IT index closed lower by 58.18 points at 3,789.98 as NIIT (7.51%), Patni Comp (5.84%), Karut Net (5%) closed lower.
BSE Bankex index closed higher by 122.48 points at 9,867.36. Gainers are Axis bank (6.65%), ICICI bank (2.71%), Kotak bank (2.46%), Andhra bank (2.32%), IOB (1.52%).
BSE Metal index closed marginally lower by 1.20 points at 14,273.05 as Welspun Guj (6.38%), Sesa Goa (5.82%) and JSW Steel (3.01%) closed higher while Jindal Saw (4.09%) and Jindal Stainless (3.46%) closed lower.
BSE Realty index dropped by 125.49 points to close at 9,042.84. Losers are Penland (7.93%), Ansal Infra (7.41%), Sobha Dev (3.54%), Indbul Real (3.40%), HDIL (1.75%).
BSE CG plunged by 160.86 points to close at 14,873.21. Scrips that fell are BEML (4.91%), Kalpataru Power (4.36%), Lakshmi Machines (4.12%), Punj Lloyd (3.96%).
BSE Oil & Gas index inched up by 40.52 points to close at 9,926.32. Scrips that gained are Cairn India (5.26%), HPCL (2.20%), Reliance Inds (2.17%) and Gail India (1.09%).
BSE IT index closed lower by 58.18 points at 3,789.98 as NIIT (7.51%), Patni Comp (5.84%), Karut Net (5%) closed lower.
Idea Cellular - Limited Review for the quarter ended Dec 31, 2007
Idea Cellular Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
Attention is invited to note 4 of the statement. As detailed in the said note, pending the transfer of Telecom licenses of erstwhile Idea Mobile Communications Ltd, BTA Cellcom Ltd and Idea Telecommunications Ltd in the name of the Company, the Company has given effect to the scheme of Amalgamation w.e.f. April 01, 2006 the appointed date. Implications if any, in the event of non-transfer of the licenses are not ascertainable at this stage.
Attention is invited to note 4 of the statement. As detailed in the said note, pending the transfer of Telecom licenses of erstwhile Idea Mobile Communications Ltd, BTA Cellcom Ltd and Idea Telecommunications Ltd in the name of the Company, the Company has given effect to the scheme of Amalgamation w.e.f. April 01, 2006 the appointed date. Implications if any, in the event of non-transfer of the licenses are not ascertainable at this stage.
Universal Cables - Change in Directorate
Universal Cables Ltd has informed that Shri. Sushil Kumar Daga and Shri. Shankar Prasad Tamrakar have ceased to be Alternate Directors to Shri. S N Prasad and Shri. Dinesh Chanda respectively w.e.f. January 29, 2008 and they have been re-appointed as Alternate Directors with effect from January 30, 2008 to act for Shri. S N Prasad and Shri. Dinesh Chanda respectively during their absence.
Kirloskar Ferrous Board to consider interim dividend
Kirloskar Ferrous Industries Ltd has informed that a meeting of the Board of Directors of the Company will be held on February 20, 2008, inter alia, to consider the payment of Interim Dividend on Equity Shares of the Company for the financial year 2007 2008.
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