Profit with Phoenix as on 31/08/2009

Pritish Nandy Communications` director resigns
Pritish Nandy Communications has announced that Harshawardhan Sabale,
independent director of the company has resigned from the board of the
company with effect from 31 August 2009.
------------------------------
Gayatri Projects to allot equity shares
The board meeting of Gayatri Projects will be held on 08 September 2009
for considering the allotment of 10,00,000 equity shares of Rs 10 each
at a premium of Rs 175 per share on preferential basis to Reliance
Capital Trustee- Reliance Infrastructure Fund.
------------------------------
Ind Tra Deco to allot equity shares
The board of Ind Tra Deco has decided to create, issue and allot
6,40,00,000 equity shares of Re 1 each for cash at par aggregating to
Rs. 6,40,00,000 to various entities including promoter group companies
on preferential allotment basis to generate long term resources for
implementing future growth plans and to strengthen the company`s
financial position.
------------------------------
Sql Star International to issue shares
The members of Sql Star International have passed resolutions with
unanimous majority to issue of shares on preferential basis and issue of
share warrants on a preferential basis.
------------------------------
Manappuram General Finance & Leasing appoints additional director
Manappuram General Finance & Leasing has announced that the company has
received approval from the Ministry of Corporate Affairs, Delhi, for
increasing the number of directors from 12 to 15. Accordingly the
company has appointed B. N. Raveendra Babu as additional director with
effect from 17 August 2009.
------------------------------
Banswara Syntex allots warrants
The board of Banswara Syntex has allotted 16,50,000 warrants to the
persons other than promoter, these warrants entitle the holders to apply
for and obtain allotment of one equity shares of the face value of Rs 10
each at a premium of Rs 31 per warrant (equity share).
------------------------------
Sankhya Infotech to allot warrants
The board of Sankhya Infotech has approved to increase in the Authorized
Share Capital from Rs 15 crore to Rs 18 crore with an addition of Rs
3.00 crore and also have passed the resolution to allot 40,50,000
warrants to the promoters and their associates as per the prevailing
regulations.
The board has also given its consent for merger of Talent Sprint,
Hyderabad headed by Santanu Paul for stock swap deal into Sankhya
InfoTech.
Further the board has considered the appointment of Santanu Paul as the
whole time director. Santanu Paul would also function as the president
and CEO of the company with immediate effect. the board has also
approved the appointment of Madhu Murthy as executive vice president of
the company with immediate effect.
The company has delisted its shares from Bhubaneswar Stock Exchange,
Orissa and has considered to allot 5% of share capital for ESOP subject
to the guidelines.
------------------------------
MSP Steel & Power to raise funds
The board of MSP Steel & Power has decided to issue, offer and allot
redeemable preference shares for an amount not exceeding Rs
1,20,00,00,000 subject to the approval of the shareholders in general
meeting and the amounts raised by this issue will be utilized for
expansion projects of the company.
Further it has been decided to increase the authorised share capital of
the company subject to the approval of the shareholders of the company
from Rs 60,00,00,000 dividend into 6,00,00,000 equity shares of Rs 10
each to Rs 75,00,00,000 divided into 6,00,00,000 equity shares of Rs 10
each and 1,50,00,000 redeemable preference shares of Rs 10 each by
creation of 1,50,00,000 new redeemable preference shares of Rs 10 each.
------------------------------
Glory Polyfilms to raise funds
The board of Glory Polyfilms has decided to issue and allot in one or
more tranches in the domestic / international markets offering to
Domestic / Foreign Investor / Institutional Investors / Foreign
Institutional Investors, Non-Resident Indians Companies or Bodies
Corporate whether incorporated in India or abroad, Trusts, Mutual Funds,
QIBs, equity shares and / or equity shares through GDRs and / or ADRs
and / or FCCBs and / or any securities convertible into equity shares at
the option of the company and / or holder(s) of the securities and / or
securities linked to equity shares and / or securities with warrants
including any instrument or securities representing either equity shares
and / or Foreign Currency Convertible Bonds or Convertible Securities or
securities linked to equity shares or securities with equity shares /
fully convertible debentures / partly convertible debentures or any
securities for an amount not exceeding in US$25 million.
-------------------------------
Kingfisher Airlines to raise funds

The board of Kingfisher Airlines has passed an enabling resolution for
an additional fund raising through various instruments including GDRs,
upto an amount of US $ 100 million.
It was also consequentially decided to seek the approval of the
shareholders for increase in authorised share capital of the company
from Rs 500 crore to Rs 1000 crore.
--------------------------------
Multiplus Holdings to increase authorised capital
The board meeting of Multiplus Holdings will be held on 11 September
2009 to consider the increase in authorised capital of the company.
--------------------------------
BASF`s director resigns
The board of BASF India has accepted the resignation of K R Coorlawala
who tendered his resignation vide his letter dated 21 August 2009 as
independent director from the board.
---------------------------------
Allied Digital Services issues equity shares
The board of Allied Digital Services, a leading Indian, Enterprise IT
infrastructure management services has approved sub-division of the
equity shares of face value of Rs 10 each into two equity shares of Rs 5
each and issue of 100,000 equity share warrants on a preferential basis
to Bennett, Colemen & Company (BCCL).
The board has also approved issue of securities to QIB pursuant to the
Qualified Institutional Placement (QIP Issue) for a value equivalent up
to US$ 50 million. The Board also recommended payment of final dividend
of 20% per share to the shareholders of the company. The board took on
record the audited results for the year ended March 2009.
--------------------------------
Oriental Bank of Commerce appoints MD & chairman
Union Bank of India has announced that the Central Government after
consultation with the Reserve Bank of India has appointed T Y Prabhu,
executive director of Union Bank of India as chairman and managing
director of Oriental Bank of Commerce with effect from 27 August 2009.
--------------------------------
Maytas Infra appoints directors
The board of Maytas Infra by an order dated 05 March 2009 passed by the
company law board, K. Ramalingam, Ved Jain, O. P. Vaish and Anil K.
Agarwal were appointed by the Central Government as directors of the
company on behalf of the company Law Board. The Govermnet directors have
since held discussions with the stakeholders of the company to discuss
the present state of affairs of the Company and the way forward.
--------------------------------
Supreme Infrastructure receives new work orders from Ramprashta
Promoters
Supreme Infrastructure India has announced that the company has awarded
new work orders from Ramprashta Promoters & Developers for construction
of Multistoried `Edge Towers` complex at Ramprastha City in sector 37-D,
Gurgaon, Haryana.
The scope of the work will involve construction of 15 towers consisting
of basement and 20 storied apartments named as Edge Towers. The project
will be completed with in 36 months from the date commencement of the
project, 01 September 2009. The total cost of the project is Rs
2363175000 2363175000 excluding of works contract tax,
service tax and labour cess
-----------------------------
Hon`ble High Court approves scheme of arrangement
Vallabh Steels has announced that the company had earlier decided to
hive off its Sponge Iron Unit in the State of Jharkhand subject to
necessary consent and approval for which 01 March 2006 has been fixed as
the appointed date. The said scheme of arrangement has been approved by
the Hon`ble Punjab & Haryana High Court at Chandigarh which shall become
effective with the filling of a certified copy of the orders of Hon`ble
High Court with the Registrar of Companies at Jalandhar. The company has
compiled the Annual Accounts for the financial year ended 31 March 2009
pertaining to the units remaining with the company after hiving off
Sponge Iron Unit.
----------------------------
Rishabhdev Technocable to issue warrants
The members of Rishabhdev Technocable have accorded to issue of
30,00,000 fully convertible equity warrants to the promoters, Sunil B
Golechha (5,00,000), Kamal Chand B Golechha (5,00,000) and Bhanwal Lal
Golechha (20,00,000).
----------------------------
 REI Six Ten Retail to raise funds
The board of REI Six Ten Retail has given in principle approval of issue
of share warrants up to Rs 100 crore.
The board has also approved to increase in authorized capital from Rs.
35.69 crore to Rs 50 crore.
----------------------------
Ind Swift Laboratories allots equity shares
The board of Ind Swift Laboratories has allotted 6,37,000 equity shares
of Rs 10 each at a premium of Rs 60 per share to promoters group upon
the conversion of 6,37,000 zero coupon optionally convertible warrants
(series 2008).
----------------------------
Bodal Chemicals to raise funds
The board of Bodal Chemicals has decided to raise funds through issue of
equity shares/FCCBs/securities with or without detachable warrants with
exercisable right by the warrant holders to convert or subscribe to
equity shares and/or such other securities including convertible debt
securities for an amount not exceeding Rs. 60 crore or its equivalent in
any foreign currency either through preferential issue and/or QIP and/or
private placement and/or public issue and/or any other option for
raising of funds for the company.
-----------------------------
Kiri Dyes and Chemicals to raise funds
The board of Kiri Dyes and Chemicals has decided to raise fund to the
tune of Rs 250 crore by way of QIPs / FCCB / GDR etc. for expansion of
existing Dyes Intermediates Facilities, diversification project for
Ethanol & its derivatives and acquisition of one or more companies in
India or abroad.
------------------------------
ONGC acquires stimulation vessel for Mumbai offshore
The board of Oil & Natural Gas Corporation has approved the acquisition
of a new stimulation vessel equipped with state-of-the-art technologies
for Mumbai Offshore at an estimated cost of Rs 764.1 crore, with FE
component of US$150 million and Rs 14.18 crore. The new Stimulation
Vessel will increase the productivity of oil and gas wells by removing
the drilling induced damage, increasing the effective well bore radius
and changing the flow regime into the well bore.
Presently Well stimulation jobs are done by Samudra Nidhi, the only
Stimulation vessel owned by ONGC. The new vessel will not only augment
the stimulation jobs but will gradually replace Samudra Nidhi in a
phased manner. The vessel will be procured through Lump Sum Turnkey
(LSTK) contract.
The company has also announced New Discovery in West Tripura PEL Block,
Assam & Assam Arakan Basin, Exploratory well Sundalbari-4 drilled in
West Tripura PEL Block of A&AA Basin to a depth of 3400m flowed gas from
the interval 2164-2168m at the rate of 1,60,000 m3/d. The gas contains
upto 96.3% Methane. This is a new pool discovery in Upper Bhuban
Formation in a separate fault closure. This discovery has opened up a
new reservoir for further exploration within the Sundalbari area and has
also proved the extension of the field as a whole.
The board noted the renewal of insurance cover for ONGC directors and
company secretary for the year 2009-10 effective from 10 June 2009. The
insurance cover limit of Rs 100 crore is to cover any personal liability
arising to directors and company secretary of ONGC and its subsidiaries
in discharge of their official responsibilities.
ONGC approved the combined development of clusters of two Western
Offshore Fields; namely B-22 cluster (comprised of B-22, BS-12, BS-13 &
B-149 marginal fields) and B-193 cluster (comprised of B-193, B-172,
B-178, B-179, B-180, B-28A, B-23A & B-28) at an estimated cost of Rs.
8554.26 crore with FE component of US$ 1697.27 million. The idea of
combining two projects by way of offloading the process requirement and
related facilities, erstwhile considered to be taken up separately,
would amount to a savings of about US $133 million.The project is
scheduled to be completed by March 2012, and the cumulative hydrocarbon
production from this combined project is estimated at over 21.5 million
tonne of oil and oil equivalent gas over the next 15 years. While the
gas production will commence by 2011, oil production is to begin by
2012.
-----------------------------------
Hiran Orgochem to raise funds
The board of Hiran Orgochem has proposal to issue all or any of the
instruments, equity shares / warrants / FCCBs / PCDs / OCDs / FCDs, GDRs
/ ADRs / bonds / any other equity related instruments with or without
warrants in aggregate upto Rs 75,00,00,000 for cash or equivalent to
cash in Indian and / or any other currency (ies) in one or more tranches
to Indian / foreign / resident / non-resident investors.
-------------------------------
Subex enables real time business optimization with Rocware 2.0
Subex, a leading global provider of operations and business support
systems (OSS / BSS) has released Rocware 2.0 for communication service
providers (CSP5) to assist them with revenue protection, cost management
and assured operations. Rocware 2.0 is a key component of the ROC
(Revenue Operations Center) - a concept the company pioneered almost
three years ago.
Rocware provides subscriber-centric revenue, cost and margin visibility
with a unique real-time mechanism to study the financial impact of
operational changes on profitability. This is lacking in CSP
environments as most OSS / BSS today exist and operate in silos thereby
leading to un-correlated and massively under-utilized data within the
service provider`s operational infrastructure. As data and analytics are
only as good as the processes and systems that generate them, Rocware
enables CSPs to assure not just revenue, but operational processes as
well. It creates a direct link between operations and profitability by
serving as a platform that seamlessly brings together traditionally
disparate systems for assurance, audit, controls and governance. This
provides an end-to-end view of operations, eliminating silos, and helps
CSPs to monitor, control and optimize the business more
efficiently.Rocware delivers pro-active operational intelligence and
actionable insights, leading to improved customer experience. It
includes data collection, aggregation, analytics and presentation, while
searr integrating with other OSS / BSS products (Subex, in-house and
third-party) and other enterprise functions such as CRM, ERR and BI.
Rocware is the solutions platform enabling pragmatic evolution to a ROC
that delivers Business Optimization in the most pragmatic and
non-disruptive manner.
---------------------------------
Bajaj Hindusthan to import raw sugar
Bajaj Hindusthan has announced that in addition to contracts for import
of raw sugar aggregating to around 3 lakh MT executed earlier, the
company has executed further contracts for import of raw sugar
aggregating to around 4 lakh MT for processing / refining the same into
white sugar at its sugar plants during the forthcoming sugar season
2009-2010.
The company is in the process of making arrangements to modify its
Bagasse-fired Boilers at three of its units to Bagasse/Coal-fired
Boilers to meet its a power requirements in this regard. Consequently,
including the processing/refining of the raw sugar aggregating to 7 lakh
MT into white sugar, the sugar production of the company during the
forthcoming sugar season 2009-2010 is expected to be around 1.4 million
MT.
---------------------------------
Capital Packaging acquires shares
Freshtrop Fruits has announced that Capital Packaging on 27 August 2009
has acquired 410 shares. After this acquisition their total holding in
the company is increased from 1,931,908 shares representing 19.23% to
1,932,318 shares representing 19.236%.
----------------------------------
Deep Industries allots warrants
Deep Industries has announced that the company had made preferential
allotment of 35,00,000 convertible warrants of Rs 58 each aggregating to
Rs 20,30,00,000 on 11 August 2009 to Prabhavati Properties (17,50,000)
and Kanvel Finance (17,50,000).
----------------------------------
Syndicate Bank appoints MD & chairman
Syndicate Bank has announced that the Central Government has on 31
August 2009 in consultation with the Reserve Bank of India has appointed
Basant Seth as chairman and managing director (MD) of the bank for a
period upto 29 February 2012, the date of his superannuation or until
further orders whichever is earlier.
-----------------------------------
Maytas Infra receives proposal from IL&FS Financial services
The board of Maytas Infra had received a proposal from IL&FS Financial
Services to enhance its ownership in the company and substitute the
promoter of the company by acquiring management control of the company.
By an order dated 31 August 2009, the CLB based on an application by the
Maytas Infra (MIL) board has instructed to induct ILFS as new promoters
and allowing them to assume management control through appointment of 4
directors including the chairman. The board of MIL have taken into
record the company law board order and have initiated necessary steps
towards implementation of such order.
------------------------------------
Deep Industries receives letter of award from ONGC
Deep Industries has announced that the company has obtained letter of
award from ONGC, Ahmedabad Asset for hiring the services of compression
of natural gas at Ramol GGS for Ahmedabad Asset approximately value of
contract aggregating to Rs 77.50 million. The location is Ramol GGS.
------------------------------------
Navneet Publications to increase authorised share capital
The members of Navneet Publications India have accordedto increase in
authorised share capital.
The members have also accorded to declaration of bonus equity shares in
the ratio of 3:2
-------------------------------------
Geodesic`s board approves acquisition of a company
The board of Geodesic has approved the acquisition of a company in the
space of Communication and Social Networking with offices globally.
-------------------------------------
Dollex Industries enters into MOU with Madhya Pradesh Government
Dollex Industries has announced that the company enters in a memorandum
of understanding (MoU) with Madhya Pradesh Government to establish an
integrated Agro Energy Complex consisting of ethanol, power and sugar
with an investment of 105 crore.
With continuous demand in Sugar Industry after many years company is
negotiating for acquiring sugar unit of 2500 TCD in Madhya Pradesh. Upon
the acquisition the company will set up a distillery and power
generation unit.
The company has taken an initiative to mechanise the Sugar harvesting.
Company has already acquired Cane thumpers to cut the cane and cane
loaders for loading the cut cane in to trucks. Cane thumper can cut
around 40 metric ton of Sugarcane in 7 hours, manually to cut the same
quantity of cane it takes around 24 hours. Similarly cane loader will
load a truck of 10 metric ton in around half an hour which manually
takes around 4.5 hours. The need of mechanized form of cutting and
loading the cane was felt by the industry due to scarcity of labour.
Automation of these processes helps the company in solving the ongoing
labour problems.
------------------------------------
Parsvnath Developers develops integrated township in Rohtak
Parsvnath Developers (PDL), one of India`s leading real estate and
infrastructure companies having completed nineteen glorious years
recently and has to its distinction, completion of 37 projects
comprising of 11.23 million sq. ft in total and is further executing 42
million sq ft. on a fast track has received the letter of intent (LoI)
for grant of licence from director, Town and Country Planning, Haryana,
Chandigarh for developing approximately 118 acres of integrated township
in Sector 33 A, Rohtak, Haryana.
The sector 33 A Rohtak, is adjoining mega development of Haryana State
Industrial and Infrastructure Development Corporation (HSIIDC) on NH 10
where Industrial Model Township (IMT) is being developed by Haryana
Government. Also major industrial units like Asian Paints, Maruti Suzuki
(for developing hi-tech R&D complex) footwear Design & Development
Institute (FDDI) etc. have already started their development, It is
pertinent to note that it will be PDL`s first residential offering in
Rohtak.
The project with a realization value of approximately Rs 700 crore will
have approximately 4 million sq. ft. of saleable area and would comprise
of plots, affordable homes, row houses, independent villas shopping,
commercial along with school, dispensary etc. It is pertinent to note
that the company acquired 118 acres land, fully paid and has complete
possession of the land. The company intends to start the development,
construction and marketing activities soon after receiving all the
approvals and completing all necessary formalities of obtaining the
licence.
------------------------------------
Cairn starts oil production in Rajasthan
Cairn India has started production from the world class Mangala Field in
Rajasthan. Mangala is the largest of 25 discoveries made by Cairn in the
Barmer Basin in block RJ-ON-90/1. The Mangala field was dedicated to the
nation by the Hon`ble Prime Minister of India, Manmohan Singh at the
Mangala Processing Terminal, Barmer, Rajasthan in an inauguration
ceremony attended by Central and State Government officials.
First oil was evacuated via trucking to the Gujarat coast for onward
transport to MRPL, one of the Government nominated buyers, using a
heated crude oil tanker. The oil production will gradually ramp up to a
peak production of 175,000 barrels of oil per day over the next two
years. At this point, oil production from Rajasthan oil fields will
account for over 20% of India`s domestic oil production. Among those
present at the event were dignitaries including the Chief Minister of
Rajasthan, Ashok Gehlot, the Union Minister for Petroleum and Natural
Gas (P&NG) Murli Deora, Minister of State for Petroleum and Natural Gas
Jitin Prasada, the Member of Parliament for Barmer Harish Chaudhary, the
Minister of State for Mines, Environment and Forest, Government of
Rajasthan Ram Lal Jat, Secretary (P&NG) R S Pandey, directorate General
of Hydrocarbons V K Sibal and Chairman and Managing Director of ONGC R S
Sharma. Cairn was represented by Sir Bill Gammell, Chairman, Cairn India
and Rahul Dhir, Managing Director and CEO, Cairn India.
Cairn India, the Operator of the Rajasthan block, holds a 70 percent
participating interest with ONGC, its joint venture partner, holding the
balance of 30 percent. The joint venture has already invested
approximately US$ 2 billion in the Rajasthan project and has plans to
invest a further US$ 1.8 billion by 2011 making it one of the largest
onshore oil and gas projects in India. The GoI has nominated MRPL, IOC
and HPCL for the initial offtake quantities from the Rajasthan block for
the period 2009-10 and 2010-11 and the commercial terms and pricing
negotiations have been concluded with IOC and MRPL.
The pricing agreed with MRPL and IOC for the initial volumes of crude
from Mangala represent a 10-15% discount to Brent on the basis of prices
prevailing for the six months to June 2009. This is subject to GoI
approval.
------------------------------------
Micro Technologies enters into strategic agreement with Numerical Data
Micro Technologies enters into strategic agreement with Numerical
Data, a firm based in Netherlands worth 3 million US$. Micro
Technologies would offer it`s welt tested varied ranges of products for
vehicle, mobile security and tracking, premises security including other
products to Numerical Data with technical support. Numerical Data would
create Dealers Network and would give sale and after-sale support to its
dealers. After rigorous market research Numerical Data chose exclusive
range of Micro Products in terms of advanced technology and market
viability.
Giving prime importance to the CSR (Corporate Social Responsibility)
activities, Micro Technologies has taken an initiative to spread
awareness of basic Safety and Security Measures to avoid the unexpected
events during This festive season and make their festival livelier. One
of the major assets today people possess and are concerned about is
[heir Home, vehicle and mobile. Giving prime importance to the security
of these assets Micro Technologies has taken this initiative. These
securely lips will be of great importance lo various associations,
societies and mandals who can publicise these safety tips to the
devotees and citizens. Any user can log on to
http://www.micriotechnologies.net/news media/security tips.aspx and can
get the details of Safety and Security Measures.
Micro Technologies launched the Enhanced Quality Testing Standards for
Software. The process has been initiated and inaugurated by the
honorable guest, R. Subburaj, senior director. Electronics Regional Test
Laboratory, on the occasion of the Independence Day. Micro Technologies
being an IT based company, have more than 190 products in Hardware and
Software Security segment with application of software at various
levels. To provide highly upgraded service to the end customer and to
retain the trust factor, it`s necessary to keep up the expectation of
the quality of product al different stages. Hence to bestow the quality
and authenticity of its software products. Micro Technologies has
launched The Enhanced Quality Software Testing standards. This Enhanced
Quality Testing Standards for Software will be more accurate and will
eliminate software testing, problems to a very high level. It will also
slash support costs up to 50% and alive the sabot condiment.
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