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Jayanta Mallick

RPG Cables, according to market sources, has planned to place its excess land at Thane for development. The market rumour doing the rounds suggests that it is close to wrapping up a real estate deal on the land, which is estimated to fetch around Rs 100 crore.

Market talk also suggests that its rehabilitation plan is also ready for submission before BIFR and its current order book position is healthier than before. The stock on Monday moved up by around five per cent to finish at Rs 38.45 with 1.14 lakh shares changing hands on the BSE.

RPG Cables had, in August, allotted 90,23,375 shares of Rs 10 each at a price of Rs 37 per share to its fixed deposit holders as per the scheme of arrangement sanctioned by the High Court of Karnataka. But in the quarter ended June 30, 2006, for accounting purposes it had consolidated its operational segment involving turnkey contracts with the main business power cables. In 2005, the results of house-wiring cables segment had also been merged under the power cable segment.

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