Sundaram Brake to pay 50 pc interim
Chennai: Sundaram Brake Linings board of directors has approved the payment of a dividend of Rs5 per share for 2006-07. The company reported a turnover of Rs48 crore and a net profit of Rs4 crore for the quarter ended December 2006. The earnings per share stood at Rs15.15.
Back to News Review index page  

Private funds acquire 13.5 pc stake in Ramky Infrastructure
Hyderabad: Abraaj Private Equity Fund I and IL&FS have acquired a 13.5 per cent of equity in the Hyderabad-based Ramky Infrastructure for Rs125 crore at Rs1,146 a share.

Sabre-Abraaj Private Equity, a joint venture between Sabre Capital World Wide Inc, and the UAE-based Abraaj Capital, has picked 8.1 per cent for Rs75 crore.

IL&FS took the remaining 5.4 per cent for Rs50 crore through a fund managed by it. The promoters held the remaining stake.

Sources said the Ramky group may float a public issue in one year. The turnover of the Ramky group was pegged at Rs1,000 crore as against last year's Rs600 crore. Last year's turnover stood at Rs370 crore. Its present order book is worth Rs2,300 crore.
Back to News Review index page  

Mefcom Agro considers bonus issue
Mumbai: Mefcom Agro Industries has informed the BSE that a meeting of the board of directors of the company will be held on January 31, 2007 to consider issue of bonus shares and increase in authorised capital of the company.
Back to News Review index page  

Atlanta board plans stock split
Mumbai: Atlanta informed the BSE that the board at its meeting held on January 16 approved a split of the face value of the shares of the company from Rs10/- share to Rs2/- share and increase in the authorised capital from Rs23 crore to Rs3 0 crore.
Back to News Review index page  

Gold prices rise
New Delhi: Gold prices are rising on the bullion market mainly due to firm international trends and on buying by retail customers. The prices closed with a gain of Rs10 at Rs9,210 per ten grams.

The yellow is said to have climbed to its highest level since Jan 3 in overseas markets, on speculation that energy costs will remain high enough to spur demand for bullion as a hedge against inflation. Gold prices in international markets rose $1.20 to $636 60 an ounce.

Silver has also started climbing. Silver ready rose further by Rs70 at Rs19,170 per kilo. Silver weekly-based delivery was up Rs5 at Rs19,400 per kilo. Silver coins were unaltered at Rs23,500 for buying and Rs23,700 for selling of 100 pieces.

Standard gold and ornaments were higher by Rs10 each at Rs9,210 and Rs9,060 per ten grams respectively. Sovereign held unchanged at Rs7,650 per piece of eight grams.
Back to News Review index page