JK Paper has proposed a fresh issue of shares to the promoter group and Washington-based IFC at a price of Rs 65 per share. The board of the company has also recommended payment of interim dividend at 14 per cent amounting to Rs 1.40 per equity share. It has fixed March 13 as the record date for dividend payment.
Woodgreen Investment and three affiliates of Warburg Pincus Partners have acquired 47.50 lakh equity share, or 4.26 per cent stake, in compact disc maker Moser-Baer (I) Ltd. The mode of acquisition is by way of conversion of 47,500 global depository receipts of the company.
Satyam Computer Services Ltd will set up operations in Guangzhou in China. The company has signed an agreement in this effect in Bangalore with Guangzhou mayor Zhang Guangning.
Allahabad Bank has merged its six regional rural banks in Uttar Pradesh to form two umbrella units, Lucknow Kshetriya Gramin Bank and Triveni Kshatriya Gramin Bank.
Hero Honda?s sales have grown by 12.14 per cent in February 2006 on a like-to-like basis. The company sold over 2.5 lakh motorcycles in last month against 2.23 lakh motorcycles in February 2005.
The Sultanate of Oman has given licence to LabVantage?s Sapphire Laboratory Information Management Solution (LIMS) for its regional environment and water resources laboratories.
Dabur India has crossed the Rs 500-crore production benchmark in the excise free zone of Uttaranchal. It is the first company to realise and capitalise on the potential of Uttaranchal as a manufacturing hub.
Vigneshwara Exports will set up a textile processing and weaving house with an investment of around Rs 200 crore. The company has raised Rs 5.4 crore through private placement and proposes to part finance its projects through a term loan of Rs 130.75 crore.
Pidilite Industries has launched Acron Non Toxic Holi ke Rang ? a range of holi colours made using food grade colours.
Tata Indicom has organized a Service Mela exclusively for their Pay phTelephone Booth (PTB) operators in Kolkata.
Jeevansathi.com has launched the Hindi version of its website in Calcutta. The Hindi version has the same features as in English.
