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Carborundum Universal Ltd's board of directors on August 5 approved the sub-division of equity shares of Rs 2 each to Re 1 each. The record date for the sub-division will be fixed after the shareholders' approval is received.
Godrej Properties Ltd, through its wholly owned subsidiary Godrej Buildcon Private Ltd, has signed a Development Agreement with Jet Airways (India) Ltd for development of MMRDA leasehold land admeasuring 10,309.58 sq mtrs, situated at Bandra-Kurla Complex, Bandra, Mumbai subject to conditions mentioned therein.
Grasim Industries Ltd has said that Aditya Birla Power Ventures Ltd has become its subsidiary. It is not pursuing any operations at present.
Shakti Pumps India Ltd has performed ground breaking ceremony for manufacturing booster pumps at Pithampur in Madya Pradesh. The company has planned to invest Rs 40 crore in the project to be operational by the end of this year with an annual capacity of 40,000 pumps.
The company has already raised Rs 18.75 crore from IFCI Venture Capital Ltd (under Green India Venture Fund) and will source Rs 10 crore each from SBI and Punjab National Bank as term loan. The facility is expected to generate income of Rs 12 crore in FY12 and Rs 56 crore in FY13.
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