Business Daily from THE HINDU group of publications
Thursday, Oct 04, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Oct 04, 2007 ePaper |
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Markets
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Announcements
Our Bureau Coimbatore, Oct. 3 Everest Kanto Cylinder Ltd has launched the $35-million FCCBs due 2012 for import of plant and machinery for its operations in the country, for making investments in its subsidiaries / joint ventures outside the country. The conversion price is expected to be set at a premium of 30 per cent over the closing share price of Rs 233.35 at the BSE on October 1 and the initial conversion price is fixed at Rs 303.36 per share. Kalptaru Papers Ltd has entered into an MoU with Shree Satpuda Tapi Parisar Sahakari Sakhar Karkhana Ltd, Purushottamnagar, Maharashtra, to run its 100-tpd bagasse based integrated pulp and paper plant on lease basis for 10 years. Production at the leased premises will start on or before December 31. With the present set up, it will be able to produce approximately 30,000 tonnes of good quality printing and writing paper annually. The company has also purchased one tissue paper machine with production capacity of 35 tpd of 16 GSM paper from CAN-AM Machinery Inc, US. With these acquisitions, the company expects to achieve a turnover of nearly Rs 150 crore during 2008-2009.
Steel Strips Wheels Ltd has achieved the highest ever production & sales in September 2007 – production of 5.02 lakh wheel rims as against 3.86 lakh during September 2006, a growth of 30 per cent; and sale of 5.01 lakh wheel rims as against 3.70 lakh wheel rims during September, 2006, a growth of over 35 per cent.
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