14/07/2008
Filatex India to sale / transfer
1 MW wind power project
The
board of Filatex India has approved the proposal
relating to sale, transfer / otherwise disposal
of 1 MW wind power project of the company.
14/07/2008
Kamdhenu Ispat Limited
Kamdhenu
Ispat Ltd has informed BSE about the following:
1. The Paint Unit of the Company at Chopanki, Bhiwadi
(Rajasthan) has commenced production of Kamdhenu
Paints under the brand 'Colour dreamz'. 2. The Company
has executed Joint Venture Agreement with Profab
Steel Pvt Ltd, a Company based in Mumbai, to incorporate
a Company in the name of Stelex Coating Ltd, to
set up a project in Wada, District Thana, Maharashtra,
to manufacture and market epoxy coated, rust free
steel bars.
14/07/2008
Ram Informatics signs MOU
with Karnataka Electronics Development Corporation
Ram
Informatics have signed a MoU with Karnataka Electronics
Development Corporation, an enterprise of Karnataka
State Government, to provide jointly eGovernance
solutions for the state of Karnataka. This association
will bring the company new opportunities in egovernance
segment in the state of Karnataka with in near feature.
The KEONICS wants to expand their business opportunities
in the segments where RAM Informatics is strong
like eGovernance and banking. This will bring greater
strengths and revenues to the company.
16/07/2008
Rajoo Engineers launches five
layer thermoformable sheet line
Driven
by India's huge potential in food packaging and
especially the barrier packaging, RAJOO has recently
launched a five layer thermoformable sheet extrusion
line which can produce high barrier films with nylon
/ EVOH and PP / HIPS.India is a largely untapped
market in thermoformed food packaging articles and
with the growth of cellular families and middle
class consumerism, the market for long shelf life
processed food is going to grow multifold in near
future.Keeping this in view, RAJOO has recently
delivered a five layer barrier sheet line to an
Indian customer featuring four extruders, melt pumps,
hydraulic screen changers, a unitilt polishing roll
stack and fully automatic Siemens touch screen line
control to give an output of co-extruded barrier
sheets worth 400 kg/hr.The unitilt polishing roll
stack is designed for infinite adjustment from horizontal
to vertical position through push button operation,
thus ensuring production of variety of sheet thicknesses
and polymer structures. The gap between the rollers
can also be accurately adjusted thru finely threaded
stud and ratchet arrangement. Digital indication
of gap between the rollers adds to the ease of operation.The
line is aiming to cater to the growing markets in
processed food packaging with extended shelf life
and can also produce lidding foils made of various
polymer structures like PP / EVOH. The lamina RS3X-1410
/ 1000 is equipped with a dual stroke diverter type
hydraulic screen changers with common power pack
for continuous filtration of the melt through rheologically
optimized flow channels which minimizes residence
time and pressure drop. The line is designed to
produce co-extruded thermoformable sheets of nylon
/ EVOH and PP/ HIPS in a width of 900 mm and a thickness
range from 0.5 mm to 1.5 mm.
16/07/2008
SpiceJet gets Rs 340-cr Ross
funding
The
board of directors of budget carrier SpiceJet has
accepted US-based firm WL Ross offer to infuse $80
million (Rs 340 crore) in tranches in the cash-strapped
airline. The funding was needed by the carrier to
stay afloat and fulfill aircraft acquisition commitments.
SpiceJet had been looking for a $100 million funding
for a while now.The deal was brokered by Rothschild,
the second biggest deal in the Indian aviation space
after Air Deccan's acquisition by Kingfisher last
year. However, the exact structure of the funding
is not made known. The deal closing will take another
two weeks or so and only after that will the details
be made known. But all the regulatory requirements
and foreign direct investment guidelines have been
met in the structuring of the deal, Amitabh Malhotra,
director, Rothschild, said. There is a cap of 49
per cent for foreign investors in the aviation sector.
The deal has been structured in such a way that
it will not trigger a open offer, which is mandatory
if the stake bought is over 15 per cent in a listed
company.WL Ross, which picks up distressed companies
and turns them around, is likely to buy foreign
currency convertible bonds (FCCBs) that Goldman
Sachs and Dubai-based investor Istithmar, SpiceJet's
shareholders, have in an escrow account. The bonds
were issued in December 2005. Sources said that
it was unlikely that any of the large shareholders
in the company would lose any stake.What swung the
deal in favour of Ross, according to bankers close
to the deal, was the commitment to the low-cost
model.Though the external environment is the biggest
villain in aviation right now, SpiceJet is one of
the most efficiently run airline and is a value
proposition. Here is the chance to prove oneself
and this gives the fund the exact opportunity to
do so, Malhotra said. It is not clear as to how
long Ross will stay invested in SpiceJet.
17/07/2008
Kilburn Engineering enters
into MOU with Conwood Pre-Fab
Kilburn
Engineering has entered into MOU on 16 July 2008
with Conwood Pre-Fab, Goregaon, Mumbai for purchase
of land admeasuring about 8 acres at Dhamangaon
near Mumbai, on the Mumbai-Nasik Highway at a consideration
of Rs 15.90 crore. The company will set up state-of-the-art
manufacturing facility at this location. The said
project is expected to be operational by end 2009.Pursuant
to the MOU between the company and Housing Development
& Infrastructure for sale of 8.32 acres of the
company's land at Bhandup, Mumbai, the Company's
planned shifting of its manufacturing operations
from Bhandup to new locations at Mulund, Mumbai
and Taloja, near Mumbai have been completed. After
completion of the project as stated above, manufacturing
operations from Mulund and Taloja will be permanently
shifted therein.
6.
MUTUAL FUND'S SCHEME :-