Corporate news

Our Bureau Coimbatore | Updated on February 22, 2011 Published on February 22, 2011

Balrampur Chini Mills Ltd's board of directors on February 22 approved the buyback of equity shares of Re.1 each at a price not exceeding Rs 85 a share payable in cash, for an amount up to Rs 110 crore out of free reserves by way of purchase from open market through the stock exchanges.

Delta Corp Ltd, through its subsidiary Delta Hospitality and Leisure Private Ltd, has entered into a share purchase agreement to acquire a majority stake (between 67 per cent and 100 per cent) in Marvel Resorts Private Ltd.

As part of the transaction, Delta will also assume the debt of Marvel for an aggregate consideration of approximately Rs 36-54 crore, depending on the final stake acquired. Marvel owns approximately two acres in Panjim, Goa, and has approved plans for a five-star hotel and Delta proposes to develop a casino in the five-star hotel, strengthening its position in the offshore and onshore casino space in Goa.

Fortis Healthcare Ltd has, through its wholly owned subsidiary, entered into an agreement with Cauvery Hospital Ltd, Mysore, wherein Fortis will set up, operate and manage a cardiac centre in the hospital in line with Fortis' strategy to expand its reach and provide quality healthcare services in India's tier-II and tier-III cities.

Websol Energy Systems Ltd has said that the commercial production of 30 MW by the upgradation of the 10-MW unit by adding new machines, has commenced with effect from February 21 at the manufacturing unit at Falta Special Economic Zone, Falta, 24 Parganas (South), West Bengal. Now, the total annualised production capacity stands at 60 MW.

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Published on February 22, 2011
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