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Coimbatore, June 10 Aditya Birla Nuvo Ltd has informed that it had to shut down its fertiliser plant at Jagdishpur (U.P.) on June 4 due to fire in synthesis gas compressor turbine. The company is assessing the extent of damage and time required for carrying out the repair. According to the preliminary inspection, it would be able to restart the plant within about two weeks.

Diamond Cables Ltd has informed that it has successfully raised the working capital limits of Rs 60 crore from Axis Bank under the consortium arrangement with Bank of India & ICICI Bank Ltd. The aggregate working capital limits under the consortium finance now stands at Rs 163.40 crore, which meets the entire working capital funding of the company.

Federal-Mogul Goetze (India) Ltd’s board of directors at its meeting held on June 9 has approved the issue of shares on rights basis up to Rs 130 crore.

JSW Steel Ltd had produced 3.47-lakh tonnes of crude steel in May this year, a 19 per cent increase over May 2007 production and it achieved 9 per cent growth in rolled flat product (HR coils and plates) and 22 per cent increase in rolled long product segments in May 2008 compared with the corresponding month last year. The company will shut down its hot strip mill from June 12 to enhance the capacity from 2.5 mtpa to 3.2 mtpa and is expected to be re-commissioned after modernisation on or before June 30, 2008.

Oudh Sugar Mills Ltd has convened a meeting of the board of directors on June 14 to consider the ratio for rights issue, the price and issue structure, the detachable warrant conversion period and the record date.

Ucal Fuel Systems Ltd has said that Mikuni Corporation (Mikuni) has divested its entire shareholding of 3,612,960 equity shares constituting 26 per cent in the equity of Ucal Fuel Systems Ltd and these shares have been acquired by Carburettors Ltd (CL). Consequently, the joint venture agreement between Mikuni and CL is terminated and the nominee directors of Mikuni have resigned from the board of Ucal Fuel Systems.

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