Tata Chemicals to increase stake in Rallis India Ltd

Tata Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 12, 2009, has decided to increase its equity shareholding in Rallis India Ltd by offering to purchase equity shares from other qualifying "Promoter Group" Tata Companies (i.e. Tata Tea Ltd, Tata Sons Ltd, Tata Investment Corporation Ltd & Ewart Investments Ltd) through inter-se transfer of shares.

Tata Chemicals has a strong presence in Crop Nutrition business and Rallis is amongst the leaders in Crop Protection business in Agri-sector. The Board of Tata Chemicals on August 12, 2009 approved a proposal to purchase upto 35.80% shares from other promoter group Companies as inter-se transfer amongst the qualifying promoters at a price which will be determined in accordance with the applicable SEBI (Substantial Acquisition of Shares & Takeover) Regulations 1997 (SAST Regulations) and the Rules of the Stock Exchanges, if applicable but in any event not exceeding Rs 850/- per equity share.

This offer is subject to transfer of shares satisfying all the tests prescribed under the SAST Regulations for being regarded as an inter-se transfer amongst the qualifying promoters and being eligible for exemption from an open offer obligation.

(from bseindia.com)

Read the announcement: (Click Here)

Shares of Rallis Ltd rose 4.19% today on the BSE. Total traded quantity was at 76227 as against a weekly average of 22452. Rallis Ltd's net profit doubled, according to its results press release (click here).
Uploaded at 8/13/2009 03:53:00 PM
by Chinmay
Tags: , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Center Cloud

abg shipyard adani power Adlabs Agri ambani Analysis article Asian Electronics Austral coke Auto Bad Result Bajaj Auto balrampur chini Bank of Maharashtra banks BASF bearings Bharati Bharati Shipyard bharti airtel Biocon birla bnp paribas bonus issue BPL BSE bse announcement bull or bear cbi CEAT cement change chemicals chennai petro Cheviot clariant CNG commodities consolidated q2 contrarian convertible warrants correction Crew BOS crude oil d b corp debt free Deep Ind demerger Dhanuka Dhanuka Group DII disclosure discussion dollar dubai dubai world dutch Dutch company Eastern Silk Industries Economy egm Electronics eps equity european markets exclusive fashion fccb fii dii activity fluctuations food processing fpo franchisee Fuel marketing fund raising fundamental analysis gap Gateway Distriparks ge shipping general markets glenmark global markets Globus Spirits gold goldman sachs Good Fundamental Stock good result Granules India grasim great offshore GTL gtl infra gujarat nre coke hero honda High Growth Potential Stock Himadri Chemicals Hitachi hsbc HSIL idea cellular india indiabulls indiabulls power Indian Company indian hotels Indraprastha Gas Ltd inflated stock inflation informal infosys infrastructure inr insitutional investor intraday Investment IPO IPO allotment ipo follow up ipo index IPO information IT ivrcl jaiprakash associates jindal cotex Jindal Saw jsw jsw energy Kaashyap kesoram knowledge Koutons Lakshmi Machine Works land acquisition large debt leather lic listing LMW lnt long term lupin Mahindra Major Upmove mallya maruti suzuki mcnally bharat media Merck merger merger possibility merger ratio message MNC Monsanto mrpl multi bagger MUSCO nakoda news newspaper neyvelli NHPC nifty nirma NSE offline offshore OIL Oil India Ltd open offer Opinion Opto Circuits order order cancellation parekh aluminex pe ratio penny pfizer pharma Pipavav Shipyard piramal healthcare portfolio suggestion power Press Release Private Placement PSU Punj Lloyd q2 QIP rajesh exports raju rakesh jhunjhunwala Rallis Ranbaxy rbi RCF rec recommendations refineries rei agro reliance reliance comm renewable energy REPower request restructuring results results impact Retail Rights issue RIL RnD rnrl rolta RPG rupee safe sale of shares by promoter samruddhi samruddhi cements Sanitaryware major satyam scam Seamec Seeds Sensex service shareholding shares shipbuilding company shipping short term short term surge siemens SKF Slow Down sms social investing Solvay Spanco speculation sports Stake increase Stake increase by parent company stake sell Steel stock market Stockezy stocks stocks center subsidiary sugar Supreme Industries Suzlon Swedish Company Swine Flu swiss take over Tata tata motors tata steel TCS Technocraft Industries telecom textile textile machinery major timings change tip trading transport Turn Around TV18 tyre manufacturer UCO Bank Ugine Ultratech underperformer Update usd user interactive volatility Voltas watch list Weekly analysis world wyeth xl energy
Disclaimer:

Use of this site indicates your acceptance of our disclaimer.

Disclaimer : Any action you decide to take in the markets is your responsibility. http://stockscenter.blogspot.com/ will not be liable for any direct or indirect, consequential or incidental damages or loss arising out of the use of the information provided on this blog. This information is neither an offer to sell nor a solicitation to buy any of the securities mentioned here in this blog. Readers are expected to form their own judgement.

The author may or may not be trading in these securities.http://stockscenter.blogspot.com/ provides free Indian stock market tips and opinion.

Please consult with a registered financial advisor before making any decisions on your investment.

Copyright © 2011 StocksCenter.blogspot.com "All Rights Reserved "

(this stuff is mine)

Privacy Policy:

We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.