The Hindu Business Line : Corporate developments

Adlabs Films Ltd has entered into an agreement for acquisition of majority and controlling interest in Lotus Five Star Cinemas and will be operating a 51 screen cinema exhibition chain in Malaysia. The chain will have a footprint across Malaysia and will be playing mainstream Hollywood films in addition to movies in Indian languages Hindi and Tamil, and also Chinese and Malay. Adlabs currently has 160 screens operating in the country. Its international presence, in addition to Malaysia, comprises 220 screens covering the East, West Asia and West Coast of US as also Mauritius and Nepal.

Automotive Axles Ltd’s Board of Directors has approved, in principle, expansion of axles capacity from 168,000 axles to 240,000 axles p.a. at an aggregate expenditure of Rs 112 crore.

Coromandel Fertilisers Ltd has informed that with a view to explore rock phosphate sources, the company along with Getex Ocean Trades Pte Ltd, Singapore, has formed a joint venture company by name Coromandel Getex Phosphates Pte Ltd, in Singapore.

IOL Chemicals and Pharmaceuticals Ltd’ Board of Directors has approved the issue of securities to Qualified Institutional Buyers for an amount not exceeding Rs 50 crore and raising of resources through issue of securities in the international market up to $10 million.

More Stories on : Announcements

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Geojit to exit commodity business to clear hurdles for BNP takeover

Equity linked tax savings schemes witness huge investment

More fund houses eyeing Quant Fund launch

Edelweiss gets SEBI’s nod for MF foray

Asset base of mutual funds improves 7.32% in April

Birla Sun Life ties up with J&K Bank

Patel’s move to expand overseas

Firm crude prices lift India Glycols

Two-thirds of BSE-listed cos yet to declare results

Realty counters turn into active zone

SEBI allows cross margining

Union Bank of India (Rs 168.75): Buy

Day Trading Guide

IPO scam: Apellate tribunal sets aside SEBI order on Karvy