July 25th Market News

25th July 2008
Corporate News/ : Announcements

Exide to double OEM supplies by Fy10: Exide Industries plans to double its supplies to automobile makers in 2009-10 to 5 million units. The rise in supply is seen following a slew of agreements with original equipment makers for passenger cars, most of which will hit the roads in 2009-10.

Bilcare, MeadWestvaco acquire US pharma firm: Bilcare Ltd and US-based MeadWestvaco Corp (MWV) have jointly acquired pharmaceutical packaging company International Labs of St. Petersburg, Florida. The acquisition will leverage capabilities for adherence-promoting pharmaceutical packaging and streamline the supply chain.

RIL gas case adjourned :The division bench of the Bombay High Court on Tuesday adjourned the case between Mr Mukesh Ambani promoted Reliance Industries Ltd and Mr Anil Ambani led Reliance Natural Resources Ltd till Wednesday over the sharing of natural gas from the Krishna-Godavari gas fields, located of the Eastern seaboard. The division bench directed the matter to be placed before the Chief Justice of the Bombay High Court, who will decide which bench should hear the final argument in the case.

Adjustment in Futures and Options contracts of INDIA INFOLINE LTD. on account of Sub-division of share: INDIA INFOLINE LTD has announced Stock split in the ratio of 10:2 to the equity shareholders of the company .The record date announced by the company for this purpose is August 18, 2008, based on which the Exchange has fixed August 08, 2008 as the ‘Ex-date’.Thus, the Final adjustment factor for the Stock Spilt in this case would be 5.The adjusted market lot will be arrived at by multiplying the old market lot by the adjustment factor (5).Change in Positions held: The adjusted position will be arrived at by multiplying the old position by the adjustment factor (5).