Eros International acquires global distribution rights of Tezz

Tezz releases worldwide on 27 April 2012

Eros International Media Ltd (EIML) has acquired the international distribution rights of the forthcoming action thriller Tezz. The film releases worldwide on 27 April 2012.

Produced by Venus Films and directed by Priyadarshan, Tezz features an ensemble cast of Mohanlal, Anil Kapoor, Ajay Devgan, Boman Irani, Kangna Ranaut, Sameera Reddy and Zayed Khan in main roles.  

In the late afternoon, EIML was trading at around Rs203.50 per share on the Bombay Stock Exchange, 3.07% down from the previous close.

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Muthoot promoters may dilute 10% stake

“We may also opt for perpetual bonds if the capital market conditions are not conducive for equity issue,” Muthoot said.

Promoters of leading gold loan company Muthoot Finance may dilute their stake by up to 10% to raise funds in the next fiscal.

“We are exploring options to raise fresh equity for long- term resources to an extent promoters’ holding dilution of another 10% from 80% now,” Muthoot managing director, George Alexander Muthoot told PTI.

However, this would be done if valuations are attractive to the company, and private placement to QIB, PE funds are most likely, he said.

The company is bullish on the business as gold is all set to become more expensive after the Budget has proposed to hike customs duty on gold imports and to impose excise duty on unbranded jewellery, he added.

“We remain bullish about the business, and the Union Budget was also good for us as our collateral becomes costlier. We are aiming 25%-30% growth in 2012-13,” Muthoot said.

The company would add another 300-400 branches in the next fiscal, he said.
On the fund requirement of the firm, Muthoot said the company would require Rs6,000-7,000 crore in resources in combination of debt and equity. The current paid up capital of Muthoot is Rs371 crore.

“We may also opt for perpetual bonds if the capital market conditions are not conducive for equity issue,” Muthoot said.

In the late afternoon, Muthoot Finance was trading at around Rs148.30 per share on the Bombay Stock Exchange, 8.88% down from the previous close.

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L&T Construction secures orders worth Rs1,120 crore

L&T Oman LLC, part of L&T Construction, has won a new order worth Rs156 crore from a client for the construction of an electrical substation and associated work

L&T Construction has won new orders valued over Rs1,120 crore across various business segments in March 2012.

Power Transmission & Distribution IC has secured new international orders worth Rs548 crore from Abu Dhabi Water & Electricity Authority, UAE for the construction of 220 kV overhead lines, switching stations and other related electrical works. L&T Oman LLC, part of L&T Construction, has won a new order worth Rs156 crore from a client for the construction of an electrical substation and associated work.

The Building & Factories IC has secured orders aggregating Rs416 crore from various customers. Major orders include those for construction of factory projects, and include contracts for additional work from various ongoing projects.

In the late afternoon, Larsen & Toubro was trading at around Rs1,313 per share on the Bombay Stock Exchange,  2.60% down from the previous close.

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