Bhuwalka Steel Industries Ltd has informed that the Board of Directors of the Company at its meeting held on June 25, 2008, inter alia, has recommended equity dividend @ 20% on 5187249 shares of Rs 10/- each for the year 2007-08.

Tata Motors on March 26 acquired Ford’’s British marquees Jaguar and Land Rover for 2.30 billion dollars in an all cash deal, sealing a deal that it pursued for nine months. Under the deal, Tata will continue to source engine from Ford, which would be paying about 600 million dollars toward the pension liabilities of Jaguar-Land Rover employees. As part of the transaction, Ford will continue to supply Jaguar and Land Rover for differing period with powertrains, stampings and other vehicle components in addition to a variety of technologies such as environmental and platforms. Ford has also committed to providing engineering support, including Research and Development plus information technology, accounting and other services.

In addition, Ford Motor Credit Company will provide financing for JLR dealers and customers during a transitional period, which can vary by market, for up to 12 months. The deal would be funded through a mix of existing cash reserves and new debts. Recently, Tata Motors had announced that its Board has approved raising of Rs 4000 crore (about one billion dollar) from either overseas or domestic markets through issuance of securities. The company had said the funds to be raised would be utilised to part finance overall funding requirement to meet some of its strategic plans. Stating that its expansion plans through organic route over the next 3-4 years might incur expenditure; the company said the acquisition opportunities have to be financed upfront. The acquisition by the Tatas saves up to 40,000 British jobs. While the three Jaguar and Land Rover factories in Britain employ 16,000 people, the number swells to around 40,000 when ancillary units are taken into account, according to Andrew Dodgson of Unite.

The only question mark that surrounds the acquisition is one posed by some industry watchers in the US - over the branding of the two luxury brands, given that Tata Motors have unveiled the Nano, the world’’s cheapest car, this year. Tata Motors is India’’s largest automobile company, with revenues of $7.2 billion in 2006-07. With over 4 million Tata vehicles plying in India, it is the leader in commercial vehicles and the second largest in passenger vehicles. In the past few years, the Tata group has led the growing appetite among Indian companies to acquire businesses overseas in Europe, the United States, Australia and Africa - some even several times larger - in a bid to consolidate operations and emerge as the new age multinationals.
[Via]

Policy holders of pure term insurance products can look forward to more reasonable premiums as the Insurance Regulatory and Development Authority (IRDA) slashes the mandatory solvency margins by two-thirds for companies offering these products. The pure term products, which account for a little share in total insurance market, give simple life cover and companies could design products, which could achieve various segments of the population so as to meet their insurance requirements.

To improve the insurance penetration, the regulator had conceived various factors including the impact of life-insurers capital requirement under the solvency margin regulation and the need for reviewing the solvency margin required for pure term products. The proposed required solvency margin at a lower level for pure term products will give significant relief to life insurers, both under individual and group products. The Authority had modified the first factor and second factor, with respect to non-linked business, in working out the required solvency margin in such a way that it would be brought down by about two-thirds.

[via]

Mahindra Intertrade Ltd (MIL), a wholly owned subsidiary of Mahindra & Mahindra Ltd (M&M), on March 12 opened an electrical steel processing plant here. The company has initially infused Rs 30 crore on the plant, set up in 10 acres, to operate as a one-stop shop for processed electrical steel requirements. It will manufacture laminations for transformer cores, giving a high-tech processing back-end for transformer OEMs located in Gujarat, which has recently saw soaring growth in the power sector led by MNCs such as ABB.

The plant’’s location near Vadodara ensures proximity of the facility to power transformer manufacturers most of whom are located in Central and Western India. The domestic transformer industry is set to gain from the strong demand hoped from reforms in the power sector. The Government has also transferred focus from adding generation capacities to strengthening the distribution system. MIL had opened the country’’s first steel service centre Mahindra Steel Service Centre, in 1993, near Pune together with its Japanese partners Mitsubishi Corporation and Nissho Iwai Corporation for home appliances and transformer industries.

HEG Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 03, 2008, have unanimously approved the following:

1. By way of special resolutions:-

To create, offer, allot and issue on preferential basis

i. 60,00,000 Warrants of Rs 365/- each aggregating to Rs 2,19,00,00,000/- (Rupees Two Hundred Nineteen Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/ each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.

ii. 3,40,000 Warrants of Rs 365/- each aggregating to Rs 12,41,00,000/- (RupeesTwelve Crores Forty One Lacs Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies;subject to the compliance of applicable laws and provisions in this regard.

2. By way of ordinary resolution:-

Appointment of Mr. R C Surana, Executive Director of the Company for a period of 5 (Five) years w.e.f. January 29, 2008.
[Via]

Hotel Leelaventure Ltd has informed that the Committee of Directors on Issues of the Board of Directors, in its meeting held on January 11, 2008, has allotted 3,44,514 nos. of fully paid up Equity Shares of the Company to one of the euro FCCB bondholders who has exercised the option to convert 300 bonds of Euro 1000/- each aggregating to Euro 3,00,000/- into equity shares at Conversion price pursuant to the terms and conditions of the Offering Circular dated September 13, 2005. These equity shares will rank pari passu with the existing equity shares of the Company.

With the allotment of the above shares the Equity Shares upon conversion stands increased from present level of 37,28,86,946 nos. to 37,32,31,460 nos. Equity Shares of Rs 2/- each.

D-Link ……………………… Ltd has informed ………….. that the Company has received an ……………. for payment of differential ……………. duty of Rs 3.41 crores under Section 11A (2) of the ……………… Excise Act, 1944 for the ……………. February 01, 2001 to ……………. 31, 2005 and equivalent ……………… of penalty under Section 11AC of the Central ………………. Act, 1944 read with Rule 173Q of the ……………… Excise Rules, 1944 and Rule 25 of the Central ………………. Rules, 2002 along with ………………. interest thereon as per the applicable rates ……………. the Central Excise Act, 1944.

The ………….. is taking legal opinion on the above order and …………….. keep posted of any ……………… action taken by the Company in the ……………. matter.

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Patel Integrated Logistics Ltd has ……………………………..formed BSE that an Extra Ord……………………………..ary General Meet……………………………..g (EGM) of the members of the Company will be held on January 11 2008 ……………………………..ter alia to transact the follow……………………………..g bus……………………………..ess

1. To create offer issue and allot upto 1800000 Equity Shares of Rs 10/each and upto 800000 Equity Warrants [hav...................................g option to apply for and be allotted upto 800000 Equity Shares i.e. one Equity Share per Equity Warrant] of face value of Rs 10/…………………………….each to be subscribed by any person whether he ……………………………..she be a shareholder or not ……………………………..clud……………………………..g but not limited to ……………………………..dividuals Firms Companies Bodies Corporate ……………………………..dian F……………………………..ancial ……………………………..stitutions Banks Foreign ……………………………..stitutional ……………………………..vestors Non Resident ……………………………..dians Overseas Corporate Bodies…. Mutual Funds Strategic ……………………………..vestors and ……………………………..or other entities on preferential basis …………………………….. one or more modes or …………………………….. comb……………………………..ation thereof and …………………………….. one or more tranches and on such terms and conditions as the …………………………….. may deem fit subject to necessary provisions & approvals……

2. To create issue offer and allot on private placement basis to Qualified ……………………………..stitutional Buyers (QIBs) Equity Shares Preference Shares and ……………………………..or Fully Convertible Debentures ……………………………..Partly Convertible Debentures ……………………………..Convertible Preference Shares and ……………………………..or any other security ……………………………..f……………………………..ancial ……………………………..strument which is convertible at a later date ……………………………..to Equity Shares of the Company other than Equity Warrants on such terms and conditions ……………………………..clud……………………………..g pric……………………………..g of such ……………………………..struments as the …………………………….. may deem fit provided that such terms and conditions shall be subject to Chapter XIII A of the Securities and Exchange …………………………….. of ……………………………..dia (Disclosure and ……………………………..vestor Protection) Guidel……………………………..es 2000 as amended to date of such other Guidel……………………………..es. Rules Regulations prevalent at the time of mak……………………………..g such placement giv……………………………..g the provisions for Qualified ……………………………..stitutional Placement provided further that the aggregate of the proposed placement along with previous placements made …………………………….. the same f……………………………..ancial year if any shall not exceed five times the net worth of the Company as per the audited balance sheet of the f……………………………..ancial year immediately preced……………………………..g such placement subject to necessary provisions & approvals.

3. Authority to the …………………………….. of Director for borrow……………………………..g from time to time any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obta……………………………..ed or to be obta……………………………..ed from the Company’s bankers …………………………….. the ord……………………………..ary course of bus……………………………..ess) may exceed the aggregate of the paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose provided that the total amount so borrowed by the …………………………….. shall not at any time exceed the limit of Rs 100 crores.

Via : www.bseindia.com has ……………………………..formed BSE that an Extra Ord……………………………..ary General Meet……………………………..g (EGM) of the members of the Company will be held on January 11 2008 ……………………………..ter alia to transact the follow……………………………..g bus……………………………..ess

1. To create offer issue and allot upto 1800000 Equity Shares of Rs 10/each and upto 800000 Equity Warrants [hav...................................g option to apply for and be allotted upto 800000 Equity Shares i.e. one Equity Share per Equity Warrant] of face value of Rs 10/…………………………….each to be subscribed by any person whether he ……………………………..she be a shareholder or not ……………………………..clud……………………………..g but not limited to ……………………………..dividuals Firms Companies Bodies Corporate ……………………………..dian F……………………………..ancial ……………………………..stitutions Banks Foreign ……………………………..stitutional ……………………………..vestors Non Resident ……………………………..dians Overseas Corporate Bodies…. Mutual Funds Strategic ……………………………..vestors and ……………………………..or other entities on preferential basis …………………………….. one or more modes or …………………………….. comb……………………………..ation thereof and …………………………….. one or more tranches and on such terms and conditions as the …………………………….. may deem fit subject to necessary provisions & approvals……

2. To create issue offer and allot on private placement basis to Qualified ……………………………..stitutional Buyers (QIBs) Equity Shares Preference Shares and ……………………………..or Fully Convertible Debentures ……………………………..Partly Convertible Debentures ……………………………..Convertible Preference Shares and ……………………………..or any other security ……………………………..f……………………………..ancial ……………………………..strument which is convertible at a later date ……………………………..to Equity Shares of the Company other than Equity Warrants on such terms and conditions ……………………………..clud……………………………..g pric……………………………..g of such ……………………………..struments as the …………………………….. may deem fit provided that such terms and conditions shall be subject to Chapter XIII A of the Securities and Exchange …………………………….. of ……………………………..dia (Disclosure and ……………………………..vestor Protection) Guidel……………………………..es 2000 as amended to date of such other Guidel……………………………..es. Rules Regulations prevalent at the time of mak……………………………..g such placement giv……………………………..g the provisions for Qualified ……………………………..stitutional Placement provided further that the aggregate of the proposed placement along with previous placements made …………………………….. the same f……………………………..ancial year if any shall not exceed five times the net worth of the Company as per the audited balance sheet of the f……………………………..ancial year immediately preced……………………………..g such placement subject to necessary provisions & approvals.

3. Authority to the …………………………….. of Director for borrow……………………………..g from time to time any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obta……………………………..ed or to be obta……………………………..ed from the Company’s bankers …………………………….. the ord……………………………..ary course of bus……………………………..ess) may exceed the aggregate of the paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose provided that the total amount so borrowed by the …………………………….. shall not at any time exceed the limit of Rs 100 crores.

Via : www.bseindia.com

Geometric Ltd has announced that Geometric Technologies, Inc. (formerly TekSoft, Inc.), an industry leader in developing advanced manufacturing software, recently held reseller conferences in America, Europe and Asia………………………

Mike Coleman, CEO of Geometric Technologies, hosted all the meetings and reiterated the Companys gratitude and continuing support to the Value Added Resellers (VARs) for promoting and supporting CAMWorks®. Commenting on the outcome of the meetings, he said, With over 50 enhancements in CAMWorks 2008, our VARs were excited to learn how these new capabilities can help their customers to machine faster and more accurately. Our resellers are the first line of support for our customers and the training sessions prepared them to provide quality support services and training. In addition to the CAMWorks 2008 rollout, we outlined our plans for CAMWorks 2008EX and CAM Works 2009. This will help our VARs to prepare for supporting the next major releases……………………..

Geometric Technologies has also added new VARs in Europe and Asia to strengthen its operations in these regions…………………….

CAM Works is a SolidWorks Certified Gold CAM product with state-of-the-art machining capabilities seamlessly integrated into SolidWorks 3D mechanical design software since 1997. The combination of the latest innovations in CAMWorks 2008 and Solid Works excellence in design continue to make CAM Works a premier CAM solution…………………………..

CAMWorks can be purchased to run with SolidWorks or as a cost-effective package - CAM Works Solids, a standalone version of CAMWorks, with integrated solid modeling capabilities……………………………
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The market sheds most of its initial gains on the back profit booking across the counters. Among the Sensex pack,
………………………………….
The Bankex index is trading higher by 57.39 points at 10,821.61…………………. Pushing it are Canara bank trading up by (3.91%) at Rs299.95 along with Cent BOP by (2.73%) at Rs58.25, ICICI bank by (1.96%) at Rs1163, Federal bank by (1.03%) at Rs323, Allahabad bank by (0.61%) at Rs115.10 and BOI by (0.27%) at Rs352.85…………………

The realty index is trading up by 58.40 points at 11,712.98………………….Leading the rally are Ansal Infra trading higher by (2.36%)> at Rs384 followed by Mahindra Life by (1.53%) at Rs772, DLF by (1.47%) at Rs962.70, Unitech by (1.38%) at Rs461.85, HDIL by (1.08%) at Rs964 and Parsvnath by (0.46%) at Rs385.10……………………………

In the telecommunication sector, VSNL is trading up by (9.59%) at Rs663 while Idea Cellular is trading lower by (0.76%) at Rs130 followed by Reliance Communications by (0.7%) at Rs710 and Bharti Airtel by (0.44%) at Rs907………………….

VSNL is trading firm at Rs663 up by (9.59%) as the company is constructing a $250mn worth of cable system for linking Mumbai to Paris, London and Madrid…………………. This project will be built in partnership with Seacom and telecom Egypt and this will provide VSNL a new capacity of 1.28 terabit on the route during 2009…………………………..

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