MphasiS plans buyback

MphasiS BFL will buy-back shares of the company. The company?s board has decided to buyback up to 10 per cent of the common stock after the close of the fiscal 2005-06. A special committee has been set up to undertake necessary preparations, the company has informed the Bombay Stock Exchange. The price and mode of the buyback would be decided later.

Pantaloon

Pantaloon Retail (India) has recorded a 149 per cent rise in retail sales at Rs 200 crore in October against Rs 81 crore a year ago. Lifestyle retailing has recorded a growth of 124 per cent at Rs 63 crore during the month compared with Rs 28 crore last year. Gross sales for the quarter ended September 30 rose 83 per cent at Rs 413.30 crore compared with Rs 225.90 crore last year.

PSL contract

PSL has bagged a Rs 71-crore contract from Hindustan Petroleum Corporation for its Mundhra-Delhi pipeline project. PSL will carry out three-layer polyethylene coating on bare line pipe used in the project.

Balkrishna

Balkrishna Industries will raise $50 million through issue of global depository receipts and foreign currency convertible bonds. The company has also decided to increase the foreign institutional investors? holding to 49 per cent of the paid-up share capital from 24 per cent at present.

Berger payout

Berger Paints India has recommended an interim dividend of 50 per cent for 2005-06, the company has informed the Bombay Stock Exchange.

HCL centre

HCL Comnet has opened the country?s first Microsoft Centre of Excellence at Noida near New Delhi for infrastructure management with an initial investment of $1 million. An exclusive infrastructure laboratory will be set-up at the centre.

Tata Chem

Icra has retained its LAA+ rating assigned to Tata Chemical?s Rs 125-crore non-convertible debentures. The rating reflects a stable outlook on the company.