indian stocks in news

04/09/2007
Nettlinx Ltd.

Has considered & approved acquisition of entire Share Holding (100%) of Host Department, LLC. By this acquisition Host Department, LLC., will become 100% subsidiary to the Company with immediate effect.

04/09/2007
Paramount Communications acquires UK based AEI cables

Paramount Communications has announced the acquisition of the business of AEI cables in an all cash deal on 03 September 2007. AEI cables has a turnover of approximately GBP 65 million.Elara Capital Plc, a London- based mid-market advisor, was the sole corporate finance adviser to the company for this transaction. This is Elara Capital’s first cross border transaction involving two listed companies.The acquisition of AEI cables by the company will make the company the largest listed Indian company in the cable industry with an annual turnover of over Rs 1,100 crore.The acquisition is substantially funded through borrowings by the company's new wholly-owned UK subsidiary against the AEI cables assets which it has acquired, without recourse to the company. The company is only infusing Rs 25 crore out of the proceeds of FCCBs.

04/09/2007
Valiant Communications Ltd.

Has given their unanimous approval to form a 100% Wholly Owned Subsidiary VALIANT COMMUNICATIONS & TECHNOLOGIES INC. in United State of America, to promote, market and provide pre and post sales support to customers of Valiant Communications Ltd at international level. Pursuant to approval of Board of Directors, VALIANT COMMUNICATIONS & TECHNOLOGIES INC. a 100% Wholly Owned Subsidiary of the Company has been incorporated in United State of America.

05/09/2007
Sayaji Hotels opens its fourth restaurant at Gurgaon

Sayaji Hotels is opening its fourth restaurant on 05 September 2007 at Gurgaon (Haryana State) near Delhi. The company is inaugurating the new restaurant at sushant plaza, A block, sushant lok near sahara mall. The first three restaurants are in operation at pali hill - Mumbai, indra nagar - Bangalore and banjara hills - Hyderabad.The Fifth restaurant will be opened shortly at koramangala main road at Bangalore.

05/09/2007
Surana Telecom plans IT park in Pune

Surana Telecom has been allotted 4.94 acres of land by Maharashtra Industrial Development Corporation at Rajiv Gandhi Infotech Park in Pune. The company has planned for an IT park of 3,00,000 sq.ft at Rs 60 crore.

06/09/2007
ALL reports 3% dip in domestic sales for Aug’07

Ashok Leyland’s sales volume for the month ended Aug’07 at 6055 vehicles stood lower by 7% yoy with domestic sales thread 3% yoy fall at 5512 units and boastful 31% yoy fall in overall exports at 543 units. Lower volume sales in goods carrier sector of Medium Duty Vehicle (MDV) class is the major reason for weak performance for the quarter.Overall domestic sales volume of MDV segment fell 3% at 5488 units and 33% fall in exports at 526 units for the month ended Aug’07. The MDV passenger division reported good growth in sales numbers compared to the MDV goods division. The MDV goods domestic sales dipped by 22% to 4522 units and exports dipped by 67% to 138 units. While, the MDV passenger domestic sales increased by whopping 81% to 1832 units and exports increased marginally by 5% to 388 units.The LCV segment (Light Commercial Vehicle) for the month of Aug’07 registered 9% increase in domestic sales at 24 units and the exports stood at 17 units compared to nil units during the corresponding previous quarter. The overall production (including MDV & LCV) increased marginally by 3% to 6809 units with, the MDV (including passenger and goods) production growing merger by 1% to 6696 units and LCV production increasing considerably to 133 units from 2 units in the corresponding previous quarter.

06/09/2007
Hydro S&S Industries to raise funds

The board of Hydro S&S Industries has decided to raise funds not exceeding 30 crore, to be utilized for the expansion of its existing facilities, implementation of the two projects at Maharashtra and West Bengal in the first phase and such other new locations as required to continue to maintain strong customer linkages and logistics support.

06/09/2007
MSK Projects India receives order worth Rs 76.45 crore

MSK Projects India has received order worth of Rs 76.45 crore from Madhya Pradesh Road Development Corporation for execution of the Package-7 Khandwa-Khargone (SH-26) road project.

06/09/2007
Mukand Ltd.

Mukand Ltd has informed BSE that the Company on September 05, 2007 has signed an Agreement with NV Bekaert SA, Belgium, to form a Joint Venture Company to produce Stainless Steel Wires in India to feed markets across the world. The 50:50 joint venture will be set up in Lonand, district Satara, Maharashtra. The Joint Venture Company will manufacture stainless steel wires with an investment of Rs 100 crores.

07/09/2007
MRPL signs four-year agreement with Shell

Mangalore Refinery and Petrochemicals has signed a four year product supply agreement with Shell India Marketing.The agreement, which can be extended by another two years, includes selling of all grades of motor spirit and high speed diesel.Mangalore Refinery and Petrochemicals has been selling products to Shell since 2004 under a pact which expires October.The new agreement will cover not only the fuel supply but also infrastructure sharing, hospitality, collaboration on health, security, safety and environmental management procedures.

Venus Remedies enters into JV for European Union

Venus Remedies Ltd has informed that the Company has signed an agreement with M/s. Pharma Match R&D B.V., a limited Company based at Amsterdam, Netherlands for jointly preparing, registering and marketing an EU E-CTD Dossier for a latest generation Carbapenem Injectible.

The foreign MNC had approached the Company for a collaboration, after its technical team was confident of the Companys plants and Research facilities. The Company would be conducting the complete studies and trials for providing the data for compilation of the EU E-CTD Dossier for this Carbapenem Injectible going off-Patent shortly, and Pharma Match, Netherlands would get the same registered in Europe. Pharma Match, Netherlands has been given the Exclusive Marketing Rights for entire European Union to sell this Product accompanied by supply agreements with all the potential customers in E.U. All the profits shall be shared equally between the two collaborators under this agreement.

Work has already started at the Company for this project and a highly competent team has been constituted for the CTD Dossier compilation work. This product already has good market size globally and the Company is expecting to gain a reasonable market share as soon as it goes off - Patent.

Listing of equity shares of Omnitech InfoSolutions Ltd

Trading Members of the Exchange are hereby informed that effective from August 14, 2007, the equity shares of Omnitech InfoSolutions Ltd (Scrip Code: 532882) are listed and admitted to dealings on the Exchange in the list of ''B1'' Group Securities. For further details please refer to the notice no 20070813-1 dated August 13, 2007.

Indian Hotels to mop up Rs 1,900cr via rights

Indian Hotels Company Ltd, the Tata group firm that operates the Taj chain of hotels, has decided to mop up around Rs 1,700-1,900 crore via two rights issues to meet its long-term requirement for capital for expansion, including acquisitions. The company will mop up Rs 844 crore via a rights offer for equity shareholders, while it will raise Rs 900-1,080 crore via a similar offer for unsecured convertible debenture-holders. The company will offer one rights share to shareholders for every five shares they hold. The offer will be priced at Rs 70 apiece. Debenture holders will get one debenture for every 10 they hold. The debentures will carry a coupon rate of 4 per cent for five years. The debentures can be converted after two years at a price of Rs 150-180 apiece. The rights issue will be the second offer by the company, the first being a 1:3 issue in 1993. The company unveiled two bonus issues 1:2 in 1989 and 1:1 in 1994. It will be among several Tata group companies such as Tata Steel, Trent, Tata Teleservices and Tata Coffee to have announced rights offers in the past one year. Indian Hotels Company is seeking rapid expansion in India and abroad. The company has inked agreements for Ginger hotels in Ahmedabad, Guwahati, Mangalore, Jamshedpur and Tiruppur.

Kesoram Industries likely to divide into two

Basant Kumar Birla''s Kesoram Industries may be divide into two to accommodate his daughter Manjushree Khaitan and his grandson Kumar Mangalam Birla, in the succession plan for the company. The senior Birla, 87, said a part of the Rs 2,500-crore Kesoram will go to Khaitan but did not specify which part. The Kesoram board will decide the issue. Birla, however, clarified that the cement business will go to Kumar Mangalam, who is also the chairman of the Aditya Birla Group. Observers of the Birla group said all the important businesses of the company, namely cement and tyre, will probably go to Kumar Mangalam. Kumar Mangalam is the country''s largest cement maker with two companies Grasim and UltraTech. Khaitan will get either the spun pipes (sale of nearly Rs 120 crore) or the chemicals and rayon business (nearly 153 crore). However, the split may not take place in a hurry.The split, once it takes place, will add a new twist to BK Birla''s succession plan. In his will, made in July 2004, Birla said a company of his Rs 8,000-crore group would be inherited by the person who was in charge of it and overseeing its day-to-day affairs. In June this year, Birla had said all major companies in his portfolio will go to his grandson, Kumar Mangalam. Last year, Birla had declared that Kumar Mangalam will inherit Century Textiles & Industries, after gaining control over Pilani Investments from other Birla clans, namely SK Birla and CK Birla. Half of Kesoram''s revenues comes from cement, sales of which stood at Rs 1,156 crore in the last financial year out of the company''s total turnover of Rs 2,500 crore.

L&T Bags Rs 203 Crores Worth New Orders from Delhi Metro for its Phase II Project

Larsen & Toubro Ltd (L&T) has announced that the Company has secured two more Design and Build contracts from Delhi Metro Railway Corporation (DMRC) for the construction of the underground station at Saket (Delhi) and a tunnel as part of its Phase II Project. Valued at Rs 203 crores the new station and tunnel will come up between Central Secretariat and Qutub Minar Corridors of Delhi Metro.To be completed in 30 months, the construction of the Saket station involves 1500m of tunneling. The length of the station will be 284m. In addition, the construction involves a 945m Link Tunnel and a 260m Ramp, both of which to be completed in 24 months. Top down construction method will be adopted for the underground station at Saket (Delhi) while Cut & Cover Method will be used for tunneling and NATM (New Austrian Tunneling Method) for 185 m of Twin Tunnel.The new orders come close on the heels of the Rs 355 crore Phase II orders secured by the Company, in the same corridor during last fiscal. The Company is presently executing the Udyog Bhavan and Green Park stations along with the construction of 1 km long tunnel by Cut and Cover method. The Company is also executing yet another contract, in Joint Venture with DYWIDAG, SAMSUNG, SHIMIZU and IRCON, for the construction of two underground stations at Hauz Khas and Malviya Nagar with a 3.10 km long tunnel using Tunnel Boring machines. These projects are slated for completion by 2010 for the Common Wealth Games in New Delhi.

GTL Infrastructure - Outcome of AGM

GTL Infrastructure Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on June 20, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Accounts for the period ended March 31, 2007 & Directors Report thereon

.2. Appointment of Mr. Manoj G Tirodkar, Mr. G V Desai & Mr. Vishwas Pathak as Directors of the Company.

3. Appointment of M/s. Bansi S Mehta & Co., Auditors of the Company.

4. Appointment of Mr. Prakash Ranjalkar as whole time director.

5. Adoption of GTL Infrastructure Ltd - Employees Stock Option Scheme (ESOS 2005) with certain modifications.