• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Coimbatore, July 29 Corporation Bank’s board of directors, at the meeting held on July 29, approved raising tier II bonds to the tune of Rs 1,200 crore in tranches. This is in addition to the bond issued to the tune of Rs 800 crore earlier.

Orient Paper & Industries Ltd has decided to merge OPI Export Ltd, a wholly-owned subsidiary, with it subject to required approvals.

Shiva Cement Ltd’s board of directors has discussed the status of various Govt approval/sanctions related to expansion plan up to 2.6 million tonnes in two phases. Sanction of coal linkage and water withdrawal from the Central Government had already been obtained. Environment clearance and railway siding arrangement are in the advance stage of approval. The approval of the Orissa Government is likely to be obtained by September 2008. The board deferred the approval of ‘Means of Finance’ for the expansion project pending examination of sensitivity analysis of future profitability.

UTV Software Communications Ltd’s board noted proposals aggregating around $75 million investment in the company’s gaming business and authorised entering into a MoU and conducting due diligence to acquire a 51 per cent stake in one of the top tier mobile content aggregator in the US through one of the company’s subsidiary, Indiagames Ltd. The company shall fund this acquisition by subscribing to fresh shares of Indiagames.

More Stories on : Announcements

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

Stories in this Section
Corporate developments

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line