Logix to raise Rs 51 cr
Logix Microsystems will raise Rs 51.41 crore by issue of equity shares and warrants to investors. The board has decided to allot 1431750 shares of Rs 10 each at a premium of Rs 240 per share amounting to Rs 35.79 crore, the company informed the BSE. It will also issue 6,25,000 warrants of Rs 10 each at a premium of Rs 240 per warrant aggregating to Rs 15.62 crore. An extraordinary general meeting of the company would be convened on March 18 for getting shareholders approval for the issue, it said.
ICICI Prudential has become the first private life insurer to cross the two-million policy mark. The corresponding sum assured stands at Rs 43,000 crore. The company grossed Rs 4,532 crore premium from its new business. It had crossed the one-million policy mark in September 2004.
Gartner Inc has placed Infosys in the leader quadrant in its 2006 Magic Quadrant report for 30 leading offshore service providers. The report, titled 'Magic Quadrant for Offshore Application Services 2006', depicts Gartner's evaluation of the companies in terms of completeness of vision and ability to execute.
Moser Baer India has topped the 'best of all' category under the Rajiv Gandhi National Quality award conferred by the Bureau of Indian Standards. It also received the 'Electronics Organisation of the Year' award conferred by the EFY group.
Imports of Indian goods into the USA clocked $18.8 billion in 2005, a rise of 20.78 per cent over $15.5 billion in 2004, The American Importer's Association said. India is America's 18th largest import trading partner.
Pfizer has sold its production facility at Bolanderna in Uppsala, Sweden, to Kemwell, a pharmaceutical manufacturer based in India, which will continue to manufacture anti-inflammatory drug Salazopyrine.
Powersoft Global has received Sebi's approval for its follow-on issue for 54 lakh equity shares of Rs 10 each at a price of Rs 22 per share, aggregating Rs 11.88 crore. The proceeds will be used to improve facilities and increase business in North America.
Indian Bank's net profit for the third quarter rose Rs 48.74 crore to Rs 123.16 crore against Rs. 74.42 crore for the third quarter last year. In the nine months to December 2005, net profit increased by Rs 136.79 crore to Rs 365. 31 crore.
Woodlands has introduced Woods, a range of formal footwear for women. Priced at Rs 2995-3495, this range is available in black and tan colours.