Corporate Notes

Written by fe Bureaus | Updated: Oct 28 2009, 06:09am hrs
Temasek pares stake in ICICI

Singapore government's investment arm Temasek Holdings' stake in the country's largest private sector lender ICICI Bank has reduced by 1.85 % during the September quarter this year. As per latest shareholding information of ICICI Bank for quarter ended September, stakeholding of Temasek Holdings, through its affiliate Allamanda Investments Pte Ltd, has lowered to 5.76% from 7.61% in the quarter ended June.

UK co hikes Satyam stake

UK-based First State Investment Management has hiked its stake in Mahindra Satyam to 5.02%. In a disclosure to the BSE, Satyam said the investment firm has bought 2.56 lakh shares or 0.02% stake in the company through open market purchase.

Indiabulls Power allotment

Indiabulls Real Estate on Tuesday said its subsidiary Indiabulls Power has approved the allotment of its 39.07 crore shares, which include green shoe option, after finalising the basis of share allotment for the initial public offer (IPO). Indiabulls Power, in consultation with the Bombay Stock Exchange, has finalised the basis of allotment, the companys parent firm, Indiabulls Real Estate, said in a filing to the exchange.

Astec LifeSciences IPO

Agro chemical and pharma company Astec LifeSciences Ltd will enter the capital market on October 29, 2009, with its initial public offering (IPO) of 75,00,000 equity shares of Rs 10 each. The IPO closes on November 04. The price band has been fixed at Rs 77-82. Of the 75 lakh shares, up to 1,00,000 will be reserved for employees.

Hyundai-Mahindra row

Hyundai Motor India has taken Mahindra Renault to the Delhi High Court objecting to the latter's plan to launch a compact car in the country with the name 'Sandero', alleging that the rival was trying to cash in on its popular brand, Santro, with a similar sounding product.

Idea investment

Idea Cellular, an Aditya Birla Group company, will invest up to Rs 1,500 crore during the current fiscal in West Bengal and north-eastern states.

Glenmark Generics launch

Glenmark Pharmaceuticals on Tuesday said its group company Glenmark Generics (Europe) has launched four products in the UK.

Lanco Infratech PAT jumps

Lanco Infratech on Tuesday reported a over two-fold jump in its second quarter profit after tax at Rs 122.5 crore. It had a profit after tax of Rs 51.5 crore during the same quarter of last fiscal, the company said.

IFCI Q2 net dips 26%

Industrial Finance Corporation of India (IFCI) reported a decline of 26.47% in its net profit at Rs 190.48 crore for the quarter ended September 30, 2009, as compared to the same period last year.

Ipca PAT up 75%

Ipca Laboratories Ltd reported a net profit at Rs 63.88 crore for the second quarter ended September 30, 2009 , in the second quarter against Rs 36.51 crore during the second quarter of the previous year, a growth of 75%.

Hinduja Global net up 134%

Hinduja Global Solutions Ltd (HGSL) reported 134.5% growth in profits for its second quarter ended September 30, 2009 to Rs 37.78 crore as against Rs 16.11 crore in corresponding quarter last year.

JK Lakshmi net jumps 76%

JK Lakshmi Cement on Tuesday reported a 75.48% jump in its net profit for the second quarter at Rs 47.17 crore. It had a net profit of Rs 26.88 crore during the same quarter of last fiscal.

Fortis Healthcare net up

Fortis Healthcare reported a 23.4% increase in net profit at Rs 12.9 crore for the second quarter ended on September 30, 2009.

Whirlpool profit

Whirlpool reported its highest ever quarterly net profit at Rs 24.9 crore for the second quarter ended September 30, 2009. The companys total turnover went up 32% for the April-September quarter at Rs 491 crore as against Rs 371 crore in the corresponding period last fiscal.

Dewan Housing net up

Dewan Housing Finance Corporation Ltd reported a 69.96% increase in net profit to Rs 37.51 crore for the quarter ended September 30, 2009 against Rs 22.07 crore last fiscal.