Anant Raj stake shake
Foreign funds, including Lehman Brothers, ABN Amro Bank and Japanís Master Trust Bank, have consolidated their stake in real estate company Anant Raj Industries. Anant Rajís board has approved the issue of 15,04,000 warrants convertible into equal number of equity shares of Rs 10 each at Rs 600 per share to foreign funds belonging to the non- promoter group, the company informed the Bombay Stock Exchange.
Tricom India Ltd posted a net profit of Rs 14.85 crore for the year ended March 31 compared with Rs 9.47 crore a year ago, a 57 per cent increase. The companyís consolidated turnover was up 30 per cent to Rs 36 crore from Rs 27.61 crore in the year-ago period. The board has recommended a dividend at the rate of Rs 2.10 per share.
Financial Technologies (India) Ltd clocked a net profit of Rs 103.6 crore in the year ended March 2007 against Rs 83.9 crore in the previous year. Profit before tax stood at Rs 153.6 crore. Earnings before interest, depreciation, tax and amortisation were Rs 163.4 crore. Net profit for the quarter ended March 2007 was Rs 18.3 crore.
Khaitan Electricals Ltd registered a net profit of Rs 11.93 crore in 2006-07 against Rs 6.98 crore a year ago. Net sales rose 50 per cent to Rs 300.92 compared with Rs 203.58 crore.
International Finance Corporation (IFC), a private sector arm of the World Bank group, will give a long-term loan of $40 million to Karnataka-based West Coast Paper Mills Ltd, an integrated printing and writing paper manufacturer. .
Gayatri Projects Ltd is floating five-year zero coupon convertible bonds worth around 3 billion yens. The bonds will be listed on the Singapore Exchange Securities Trading Ltd.
The board of Centurion Bank has passed an enabling resolution to raise Tier I capital of up to Rs 500 crore. This will be done through an issue of shares via a qualified institutional placement offering. The move is subject to shareholder, regulatory and statutory approvals.
Gemini Communications Ltd has issued 6 per cent foreign currency convertible bonds to Merrill Lynch to raise around 15 million euros. The offering has been fully subscribed and the price of the bonds has been fixed at Rs 513 per share. The bonds will mature by 2012.
ICICI Prudential Life Insurance Company has announced a strategic tieup with retail brokerage Sharekhan to distribute the formerís insurance products in the country.