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Business Briefs

Magna mulls unit in India

New Delhi, July 21: Magna International is planning to set up a manufacturing facility in India to manufacture multiple vehicles from a single facility. The company is exploring possibilities to set up the plant to cater to the needs and requirements of different auto makers, a company spokesperson said.

Sebi move

Mumbai, July 21: Sebi has done away with the practice of keeping shares under “no-delivery” during the record date for corporate announcements such as bonus or dividend to avoid volatility in the markets. No-delivery period means that trading during the record date would not result in any delivery of shares.

Adani IPO

New Delhi, July 21: The price band for Adani Power’s initial public offering, which will hit the market on July 28, has been fixed at Rs 90-100 per share. Adani Power has already filed the draft red herring prospectus with market regulator Sebi.

Wheat output

New Delhi, July 21: India’s wheat production touched an all-time high of 80.58 million tonnes in the 2008-09 crop year, while rice output rose to a record 99.15 million tonnes on high support prices to farmers.

Bajaj target

Calcutta, July 21: Bajaj Auto, which re-entered the volume driven 100cc bike segment recently, is eyeing the market leader position in eastern India by the end of the festive season, sales manager (east) K.B. Mohanty said.

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