DQE signs broadcast agreement with Korean and Canadian companies for its ‘Jungle Book’ animated series

DQ Entertainment (International) Ltd (DQE) said it signed two broadcast agreements with Korea-based Education Broadcasting System (EBS) and Canada-based Tele-Quebec for its 3D animated TV series ‘The Jungle Book’. No financial details of the deal were provided.

Under the terms of the agreement, EBS has exclusive free-television rights to broadcast the 52x11 minutes animated series in the Republic of Korea for three years. Tele-Quebec has secured exclusive free-television rights to broadcast the series in the French language in the French speaking Canadian regions, the company said in a regulatory filing.

On Thursday, DQE shares closed 6% higher at Rs119 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,651 points.

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Suzlon gets 25.5 MW wind power order from HPCL

Wind turbine manufacturer Suzlon Energy Ltd said it won an order from Hindustan Petroleum Corp Ltd (HPCL) for a 25.5 MW capacity wind power project at Akal in the Jaisalmer district of Rajasthan. No financial details were disclosed.

The project comprises 17 units of Suzlon’s S82-1.5 MW wind turbines and is scheduled for commissioning by the third quarter of financial year 2010-11, the company said in a regulatory filing.  

On Thursday, Suzlon Energy shares closed 0.3% up at Rs58 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,651 points.

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Coal India to come out with largest IPO of Rs15,000 crore in October

The blue-print of the IPO was finalised on Wednesday evening at a meeting between finance minister Pranab Mukherjee and coal minister Sriprakash Jaiswal

State-run Coal India (CIL) is likely to hit the market by the third week of October with India's largest ever public offer to raise up to Rs15,000 crore, reports PTI.

The government is disinvesting 10% of its stake in Coal India (CIL), the world's largest coal miner, through the initial public offer (IPO).

"As of now, it seems that CIL’s IPO will open on 18th October and close on 21st October. The 10% disinvestment will see the government raising Rs 12,000-Rs15,000 crore," a person in the know of the development told PTI.

The blue-print of the IPO was finalised on Wednesday evening at a meeting between finance minister Pranab Mukherjee and coal minister Sriprakash Jaiswal. The meeting was also attended by additional secretary, coal, Alok Perti and Department of Disinvestment secretary Sumit Bose and Coal India chairman P S Bhattacharyya, the source said.

Coal India, the largest global coal miner, sells the dry fuel 50% cheaper at around $25 a tonne than the prices prevailing in the international market.

Although CIL's IPO was planned in August-September, it was delayed due to opposition to the government's 10% stake sale move from trade unions and political parties.

"The Department of Disinvestment has finalised the issue date. The company will now file the Draft Red Herring Prospectus (DRHP) of the IPO by the first week of August," the source added.

The government is selling 10% of its stake in CIL disinvestment. It currently holds 100% equity in the coal major. CIL had earlier said it will issue over 63 crore shares in the IPO.

The Union cabinet had last month approved to disinvest 10% of the government's holding in CIL. The Centre holds 100% equity in the company.

Coal India produced 431.5 million tonnes of coal in the last fiscal. The country's coal output stood at 531.5 million tonnes in 2009-10.

Anil Dhirubhai Ambani Group (ADAG) firm Reliance Power, in January 2008, raised Rs11,500 crore through its IPO — the biggest in India till date.

Aiming to raise Rs40,000 crore through disinvestment in this fiscal, so far sell off in Satluj Jal Vidyut Nigam (SJVNL) has fetched the exchequer over Rs1,000 crore. The government is likely to sell its stake in 10 PSUs, including MMTC, SAIL and Hindustan Copper, this fiscal.

The government, in 2009-10, had raised Rs25,000 crore through stake sales in Oil India, NMDC, REC and NTPC. NMDC’s 8.38% stake sale had fetched the government about Rs10,000 crore.

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