Aishwarya Telecom will debut on the stock exchanges today. The company had priced its initial public offer at Rs 35 a share.
Bharti Airtel denied on Tuesday, 6 May 2008 a media report that it had made a $19 billion offer to take control of South Africa's flagship MTN telecom operator. Bharti Airtel issued a statement saying it was in exploratory discussions about buying a stake in MTN Group but the firm has not made any offer to acquire the whole or part of MTN. The statement came after reports suggested Bharti had made a $19 billion bid for 51% of MTN.
Tata Steel may reportedly buy London Mining Plc's Brazilian iron-ore assets valued at about $2 billion to obtain raw materials for its Corus Group Plc unit. Tata Steel is looking at all opportunities to secure raw materials for its operations, the reports added.
Private equity firm Blackstone that controls 70% in Gokaldas Exports, is reportedly planning to delist the firm. According to reports, Blackstone has discussed the delisting option with the promoters of Gokaldas Exports, and the process may possibly start during the second half of the current year.
Union Bank of India is reportedly planning to raise capital by issuing fresh equity shares on rights basis to existing shareholders including government. Government holds over 55% stake in the bank. The bank management has discussed plans for rights issue with the government and is looking for further development, the reports added.
Monnet Global, the overseas arm of Monnet Ispat and Energy, is reportedly in the final stage of acquiring the mining rights for a 250 million tons coal reserve in Indonesia from PT Anzawara. The deal will help the company in starting coal trading and tapping the market in China, South East Asia and India, the reports suggested.
Development Credit Bank reported net loss of Rs 7.61 crore in Q4 March 2008 as against net loss of Rs 0.41 crore in Q4 March 2007. Operating income rose 74.8% to Rs 233.73 crore in Q4 March 2008 over Q4 March 2007.
Net profit of Surana Industries rose 2.03% to Rs 9.57 crore on 10.43% decline in sales to Rs 248.46 crore in Q4 March 2008 over Q4 March 2007.
Net profit of Hinduja Foundries rose 5.41% to Rs 7.02 crore on 18.94% rise in sales to Rs 129.91 crore in Q4 March 2008 over Q4 March 2007.
Eveready Industries India reported net loss of Rs 6.52 crore in the Q4 March 2008 as against net loss of Rs 13.62 crore in Q4 March 2007. Sales rose 19.13% to Rs 193.20 crore in Q4 March 2008 over Q4 March 2007.
Swaraj Engines, Praj Industries, Union Bank of India, Mangalore Refinery & Petrochemicals, Mid-Day, Shree Cements, Punjab Tractors, and Barak Valley Cements among others will declare their March 2008 ended results today.