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Corporate Briefs

Greaves quarterly net up

Crompton Greaves has reported a 1.22 per cent rise in net profit at Rs 32.52 crore for the quarter ended September 30, 2005 against Rs 24.93 crore recorded in the year-ago period. Total income of the company has increased 22.84 per cent to Rs 561.12 crore from Rs 456.60 crore in the same period in the previous fiscal. The board of directors has declared an interim dividend of Rs 2 per share for 2005-06, the company has informed stock exchanges.

Jindal move

Jindal Saw will issue 12.5 lakh equity shares to Citigroup Global Markets Ltd. These additional shares would be issued under the green-shoe option, represented by an equal number of global depository shares, the company has informed the stock exchanges. Citigroup was the sole book runner for its $65-million GDS issue floated in September last.

Eskay K'n'it

Eskay K'n'it (India) has reported a net profit of Rs 12.44 crore for the July-September period compared with Rs 1.76 crore in the same quarter last fiscal. Net sales of the company has increased to Rs 121.72 crore during the quarter against Rs 80.07 crore in the year-ago period. Its net profit for the first six months ended September 30 jumped to Rs 15.08 crore from Rs 95 lakh recorded in the same period last year.

Icra rating

Icra has assigned highest safety ratings to two schemes of UTI Mutual Fund ' Liquid Fund and Floating Rate Fund. The credit rating agency has rated the Liquid Fund MFA1+ and the Floating Rate Fund, MFAAA. Icra has also retained the highest rating LAAA on Indian Rayon's Rs 50-crore non-convertible debenture issue and A1+ rating on Rs 100-crore short-term debt papers.

Ruchi results

Ruchi Soya Industries has posted a 25.49 per cent rise in net profit for the second quarter ended September 30 at Rs 9.7 crore compared with Rs 7.73 crore recorded in the corresponding quarter last fiscal. Net sales of the company has increased by 3.02 per cent to Rs 958.46 crore during July-September this year against Rs 930.39 crore in the year-ago period.

SI Bank issue

South Indian Bank is contemplating to raise Rs 150 crore through a public issue of equity shares. Pending the approval of the RBI, Sebi and other regulatory authorities, the bank has not yet finalised the exact number of shares and the price to be offered in the follow on public offer on a book building process.

Bajaj Hind

Bajaj Hindusthan has allotted 1.46 lakh equity shares upon conversion of 500 foreign convertible currency bonds amounting to $0.5 million. The conversion was done at a price of Rs 147.50 per share, the company has informed the Bombay Stock Exchange. Post allotment, its paid-up capital increased to Rs 11.67 crore from Rs 11.65 crore.


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