Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

Lending their voice
Leading Indian rock bands will perform today in New Delhi for spreading awareness about climate change

Hershey in touch with Nestle for Cadbury bid
Hershey Co, exploring its options for a possible bid for Cadbury Plc, has been in contact with Nestle SA, said two people familiar with the talks. An agreement between Hershey and Nestle may not be reached, and Hershey would prefer to bid alone, said the people, who declined to be identified because the talks are private. Any offer would challenge an unsolicited $17-billion bid from Kraft Foods Inc.

News of the day

Bye bye, brand name
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).
Public Company

Hindalco to raise Rs 2,900 crore in QIP

Hindalco Industries, India’s largest aluminium maker, plans to sell shares to institutional investors at Rs 130.90 each to raise Rs 2,900 crore this week. The board of directors met here today to fulfill the formalities before the issue is opened. - Hindalco starts roadshow for Rs 2,900-cr QIP - Novelis reports profit of Rs 916 cr - Hindalco net down 52% to Rs 344 cr - Soft metal - Hindalco draws up Rs 16,000 cr capex plan - Police rescue abducted Hindalco staff from Naxals Prior to this, the top management was on a two-week road show to meet institutional investors in the US, UK, Hong Kong and Singapore to gauge investors’ appetite. The management team, including managing director Debu Bhattacharya and chief financial officer Sunirmal Talukdar, returned from the road show on Friday. “The issue will be opened this week, depending on the market condition,” said a banker involved with the transaction. The company has Rs 23,000 crore capital expenditure plan for the next three years. About a third of this, around Rs 7,500 crore, is to be funded by equity infusion and internal accrual. The capital expenditure involves ongoing projects such as production of alumina from the Utkal Alumina refinery, scheduled to start around July 2011. The construction of a 1.5 million tonne per annum project at Rayagada, Orissa, is also in full swing. The Mahan Aluminium project in Madhya Pradesh, with capacity production of 359,000 tonnes per annum, is also expected to start production by July 2011. Besides, a captive power plant of 900 Mw is also coming up at Bargwan in Chhattisgarh. According to a sale document filed with National Stock Exchange, Citigroup Global Markets, Deutsche Equities, Bank of America Merrill Lynch, HSBC, RBS Equities, SBI Capital Markets and UBS Securities are managing the issue.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009