Manaksia growth drive
Manaksia Ltd will raise Rs 240 crore from the capital market to fund its expansion in Haldia. The company plans to use the net proceeds of the issue to expand its metal business in Haldia. The issue will close on December 19. A part of the money will be used to pre-pay a certain amount of term debt and for general corporate purposes. The expansion plan includes addition of equipment to debottleneck an aluminium rolling line.
Genpact has acquired Axis Risk Consulting Pvt Ltd, a risk consulting firm. Axis has more than 80 clients in India, North America, Europe and Asia. It has offices in Mumbai, Bangalore and New Delhi.
Gillanders Arbuthnot & Co is betting big on the engineering and textile sector. The textile division has a spindlage capacity of 27,000. Its board is considering a proposal to merge GIS Cotton Mill Ltd with itself to consolidate its business.
Old Lane Mauritius III Ltd has invested $26 million in Hyderabad-based KVK Energy and Infrastructure Pvt Ltd.The investment will help fund KVK’s projects, which includes a 1,200MW power project in Orissa.
Tata Steel has been awarded the CII-ITC Sustainability award 2007. The award has been presented by the CII-ITC Centre for Excellence for Sustainable Development in 2006 to recognise Indian businesses for their performance in economic, social and environmental areas.
Fastrack has launched the Neon Disc range of watches. This is the first analog watch collection without hands. Available in 20 designs, the price ranges between Rs 1,195 and Rs 2,195.
The BPTP group has received an approval from the UP government to set up two product-specific special economic zones in Noida and Greater Noida for IT and IT enabled services.
Reliance Communications (R-Com) has launched a micro SMS pack of Rs 10 and Rs 30 for its prepaid customers. Under the scheme, customers can send 30 local SMS for Rs 10 and 100 messages for Rs 100.
Wipro Consumer Care and Lighting has launched a soap, Santoor Glycerin. The soap has two variants, orange and white. The soap is priced at Rs 16 for a 75gm bar.
Victor Company of Japan (JVC) and Fedders Lloyd Corporation Ltd have tied up to launch JVC consumer electronic products in the Indian market.