Coimbatore, Oct. 8

Gitanjali Gems’ board of directors has decided to issue 10 million convertible equity warrants on preferential basis to promoters / promoters group and to raise additional capital through issuance of GDRs.

Kpit Cummins Infosystems’ board of directors will meet on October 17 to consider and approve the issuance of equity shares to Cummins Inc, on a preferential basis against a cash consideration, at a price to be determined in accordance with the SEBI guidelines.

McNally Bharat Engineering Company Ltd has received an order from Maharashtra State Power Generation Co Ltd for design, engineering, manufacture, supply, erection, testing and commissioning of ash handling system for its New Parli Thermal Project valued Rs 38.31 crore.

Moser Baer India Ltd has announced the acquisition of Hindi and Gujarati titles from one of the largest home video labels, Ultra Video. It will be releasing these titles in the home video market at attractive price points. Ultra Video has 2,200 titles, of which the company has acquired over 800 Hindi titles and over 100 Gujarati titles. The company will release video content of these Hindi and Gujarati titles on DVD and video CD formats using its proprietary and patented technology which enhances quality and significantly reduces cost. It has already lined up over 475 distributors across the country and stocks shall be soon available in around 100,000 outlets.

Raj Television Network Ltd has got approval from Ministry of Information and Broadcasting for launching a 24x7 Tamil news channel. The company is proposing to start the channel on November 14. The new channel will cover all types of general news, business news and other news both national and international.

Simplex Projects Ltd has bagged some contracts for piling, foundation and residential complex primarily in Kolkata from various agencies.

The total value of the projects, including the cost of materials, is approximately Rs 115 crore, which are to be completed within a time span of 3 to 24 months.

Sundram Fasteners Ltd’s manufacturing facility established at an initial investment of around Rs 32 crore in the Automotive Ancillary Special Economic Zone at Mahindra World City near Chennai for the manufacture of hubs and shafts, initially to cater to the requirements of General Motors, US, is on regular production from September 1 and has made the first shipment to General Motors on October 3. The anticipated annual potential business when the capacity of the SEZ unit is fully augmented is around $ 20 million for exports.

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