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Our Bureau

Coimbatore, May 8 Bihar Sponge Iron Ltd has clarified that it is looking for a strategic tie-up for its mining activities and it will take at least two years for the mine to become operational.

Hatsun Agro Product Ltd has convened a meeting of the board of directors on May 21 to consider the issue and allotment of securities on a preferential basis to select persons on such terms and conditions and on such price not lower than the price to be determined by SEBI regulations and to consider sub-division of the equity shares into such smaller denomination as in the opinion of the board would be appropriate, subject to the approval of the members.

Nandan Exim Ltd has informed that the spinning unit of the company caught fire at 2 p.m. on May 5 and the stock of more than 30,000 bales of cotton turned into ashes. However, due to quick response of fire brigade of Ahmedabad city and the villagers, the entire plant was saved from damage and no casualty was reported. The entire plant and machinery and raw materials are insured. The cause of fire is yet to be ascertained and the company has estimated a loss of approximately Rs 30 crore. However, the assessment of loss and survey from the insurance company is under process. The company has taken steps to tie up with the cotton yarn suppliers for uninterrupted raw material supply for the plant and is taking various steps to re-start the plant at the earliest.

PBA Infrastructure Ltd has won a contract for road works from Brihanmumbai Mahanagarpalika Corporation for Rs 12.83 crore.

Revathi Equipment Ltd has acquired 70 per cent stake in the equity capital of Semac Pvt Ltd, Bangalore, a company providing engineering design solutions for industrial / commercial and infrastructure constructions, for a consideration of Rs 45.5 crore.

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