Mar 13, 2008

Corporate News 13th March 2008

Punj Lloyd to foray into arm business

Punj Lloyd is getting ready for the war zone. Punj Lloyd is talking to global defence majors to kickstart its defence business in India. The company already has licences to manufacture guns, rockets and missiles and is all ready to setup a greenfield unit once the contracts are awarded. After all the defence market in India is being estimated at a whopping $15 billion over the next 10 years and with the government making manufacturing more mandatory than ever the global players need to source more components from India. A strategic tie up that Punj Lloyd has been eyeing will allow the Indian infrastructure major to expand its footprint in the defence space and source technical expertise while the global partner will have access to this low cost manufacturing hub.


Listing of equity shares of V Guard Industries Ltd

Trading Members of the Exchange are hereby informed that effective from March 13, 2008, the equity shares of V Guard Industries Ltd (Scrip Code: 532953) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20080310-2 dated March 10, 2008.


Emco - 400 kV Transmission Line, Prestigious Order from M/s Corporate Power Ltd, Ranchi

Emco Ltd has informed that the Company has bagged a single prestigious order from M/s. Corporate Power Ltd, Ranchi, Jharkhand for Supply, Erection, Testing & Commissioning of 400 kV Double Circuit / Double Strung Transmission Line on Turnkey basis from Hempur to PGCIL Grid Substation at Namkum (near Ranchi), Route Length being 108 KM. The value of this project is Rs 92 Crores.


HCL Infosystems - Allotment of equity shares under ESOS

HCL Infosystems Ltd has informed that the Committee of Directors (Share Allotment) on March 12, 2008 has allotted 28190 Equity Shares of Rs 2/- each (at a premium of Rs 105.63, Rs 118.79 per shares) to the employees on exercise of their stock options under HCL INFOSYSTEMS LTD Employee Stock Option Scheme 2000.


Goodyear India fixes Book Closure for Dividend & AGM

Goodyear India Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from May 01, 2008 to May 16, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company to be held on May 16, 2008.


Reliance eyes larger travel biz pie

After getting you fresh products and making grocery shopping in India a fashionable upmarket event, now Reliance Retail is all set to take you places with its latest entry into travel and tourism space. According to sources, Reliance Retail has forayed into the travel and tourism services segment with its new format Reliance Travel. Reliance Travels will offer travel services to both companies and individuals and services for family holiday and corporate packages. Besides all this Reliance Travel also has plans of other forex travel linked products like visa and travel insurance. It also has plans to provide ticketing for rail, air and cruise ships apart from hotel bookings, both domestic and international. The travel and tourism industry is fragmented and localised but there are some national players such as Cox and Kings and Raj Travels. The domestic travel space is growing at roughly 20 per cent while overseas travel at an even healthier 22 per cent. Though the Indian travel and tourism segment is largely fragmented and localized, the large corporate players entering the segment will not really matter because it is the personal touch of the smaller players that matter the most.


L&T plans major restructuring

A massive reengineering is underway at Larsen & Toubro, India's premier engineering company, as it gears up to tap bigger opportunities. AM Naik - the CMD of L&T, is getting ready for his biggest ever challenge to turn the engineering behemoth into focussed corporate entities, which could eventually be listed in the stock markets. Sources say that L&T may be broken up into 4-5 companies and the company's top brass is evaluating value creation through a split. The operating companies are likely to be listed as separate entities. L&T's top brass maintains that recast blueprint will be taken up in its vision document Lakshya 2, which will lay down the 5-year roadmap post 2010.

As a first step L&T is creating 12 verticals comprising core businesses of engineering, construction and electricals businesses, which will function as operating companies from next month. The verticals will function as independent companies with functions like finance, HR vested on its board. It will only fall short of being separately listed. The company management says a final decision on the restructuring will be taken only if it is convinced that L&T can command a conglomeration premium by listing its verticals separately. But for the moment the focus is clearly on making these verticals function like independent corporate entities just short of being separately listed.