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Sunday, November 16, 2008

" Action to be continued in this week ......" Sokhi Coporate Radar !

 

Some scrips which have seen some action in last week will continue this week too, pick your HORSE for atleast 10 - 20% gains :

Core Projects & Technologies has informed that in accordance with the offering ircular dated May 8, 2007 for the issue of $ 80 million Zero Coupon Foreign Currency Convertible Bonds due 2012 issued by the company, under condition 6(C) (xxvii) of the said offering circular with effect from November 12, 2008 the conversion price of the bonds is reset at Rs 82.86. Total bonds outstanding as on dated is $ 25.2 million to be converted at a predetermined exchange rate of US$ 1 = Rs 40.82. About pproximately 20 lakh FCCB shares were converted in the month of September. Entire FCCB amount hasn’t been converted yet. The FCCB were worth $ 80 million.

NTT DoCoMo Inc to pick up 26% stake in Tata Teleservices for $ 2.7 billion. Deal combination of fresh equity and stake sale by existing shareholders. Deal values Tata Tele at $ 10.4 billion. TTSL has subscriber base of 30 million. NTT DoCoMo says it will acquire 20% stake via fresh equity & 6% from exisiting shareholders. Open offer price has been fixed as per SEBI prescribed minimum price on relevant date. Tata Tele to use funds infused for strategic expansion & marketing efforts.

Alembic board has approved the proposal for buy-back of equity shares of the company. The maximum amount of buy back shall be for an amount not exceeding Rs 3,300 lacs, constituting 9.69% of the paid-up capital & free reserves of the company. The buy back will be for a minimum of 12,00,000 equity shares and the maximum buy back price is Rs 55 per equity share. The share is trading up in today's trade following the buyback news. The buyback price is at a premium of over 30% of the CMP.

Usher Agro has been locked in upper circuit; was a sharp fall in the stock from Rs 200 to Rs 110 level in October.Usher Eco Power has filed DRHP. Usher Agro is one of the promoters of Usher Eco Power. The public issue would include promoters selling stake.

Graphite India 's 47.2 lakh shares changed hands today. The stock is trading near 52-week low of Rs 33. It lost nearly 60% from 52-week high. Promoters hold 52.29% stake in the company. The company is a pioneer in making graphite products.

Jai Balaji  seen pullback of nearly 70% from Oct lows; stock up 34% since Nov 4; promoters hiked stake in co; stock up Jai Balaji stock has seen a pullback of nearly 70% from October lows. The stock is up 34% since November 4. Promoters hiked their stake in company. Jajodia Steel acquired 5.4 lakh shares (1.1% eq) between November 4-13 in the company. Promoter stake is now up to 65.1%. Jai Balaji Industries touched an intra day high of Rs 72.30 and an intra day low of Rs 69.30 and at 15:09 PM, the share was quoting at Rs 71.05, up Rs 2.15, or 3.12%, trading with volumes of 25,754 shares, compared to its 5-day average of 27,218 shares, an decrease of -5.38%. On Wednesday, the share closed up 4.24% or Rs 2.80 at Rs 68.90.

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