Olympic Cards to launch IPO soon

Olympic Cards proposes to expand its retail marketing through establishing four more direct retail outlets in addition to six own retail outlets it already has.

Olympic Cards Ltd, a five decade old company, plans to enter the capital markets with a public issue of up to Rs27 crore to fund its proposed expansion plan for retail and manufacturing. It had filed DRHP with Sebi for the purpose and has received Sebi nod. Ashika Capital Limited is the sole BRLM for the Issue.

The Chennai-based company proposes to expand its retail marketing through establishing four more direct retail outlets in addition to six own retail outlets it already has. Presently, the company is operating through direct outlets located at various places across Tamil Nadu. The company is operating through 5 franchisee outlets as well and intend to set up more franchisee outlets so that there is more equitable distribution of its outlets across the country. All these retail outlets shall operate under its brand name “Olympic”.

Under the brand “Olympic”, the company is one of the leading manufacturers of paper / board based products, with a strong presence in southern India. Olympic Cards Ltd is presently engaged in the business of manufacturing and trading wedding invitation cards, greeting cards, envelopes, letter heads, business cards, calendars, notebooks, account books, etc.

Olympic Cards Ltd proposes to utilize part of the money raised through this IPO to fund its expansion plan of setting up a new manufacturing unit near Chennai in addition to establishing four  own retail outlets. The company’s total income for the year ended 31 March 2011 was Rs45.72 crore and profit after tax was Rs2.18 crore as against total income of Rs34.86 crore and PAT of Rs 1.29 crore for the year ended 31 March 2010.

Olympic Cards at present has three manufacturing facilities at Chennai and its average production of cards per day is approximately 1,50,000 number of cards. Some of the competitive strengths of the company are existence of the group in the business for over four decades; large-scale, versatile manufacturing infrastructure; high-quality products; cost-efficiencies through scale, experience and technology and research and development facilities.

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Govt to present Budget for 2012-13 on 16th March

The Budget Session will begin on 12th March with president Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament. While the rail budget will be presented on 14th March, the Economic Survey will be tabled on 15th March and the Union Budget on 16th March

New Delhi: Finance minister Pranab Mukherjee will unveil the Union Budget for 2012-13 on 16th March in the Lok Sabha, reports PTI.

The Budget Session will begin on 12th March with president Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament.

While the rail budget will be presented on 14th March, the Economic Survey will be tabled on 15th March.

“We will be recommending to the president that Budget Session may be summoned on 12th March and continue up to 30th March. Address by the president would be on 12th March. Rail budget on 14th March and Union Budget on 16th March,” parliamentary affairs minister Pawan Kumar Bansal said.

Mr Bansal was talking to reporters after the meeting of the Cabinet Committee on Parliamentary Affairs (CCPA) headed by finance minister Pranab Mukherjee.

He further said that the second part of the budget session will be held from 24th April to 22nd May.

The Budget Session, which generally starts in the third week of February, has been delayed this time due to the ongoing assembly elections in five states, including Uttar Pradesh. The model code of conduct is in force till 9th March when the election process would be completed.

 

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L&T Construction won orders valued Rs1880 crore

L & T has bagged a major order from the Government of West Bengal.

Larsen & Toubro’s (L&T) construction division has won new orders valued over Rs1880 crore across various business segments during the fourth quarter of FY2012.

The Infrastructure IC has secured new orders aggregating to Rs1048 crore from various clients. A major order has been bagged from the Government of West Bengal, State Highway Circle-I, for the Construction of four lane elevated corridor along Kazi Nazrul Islam Sarani (VIP road) from Kestopur to Zora Mandir in the district of north 24 Parganas under JNNURM scheme, GOI.

Two more orders have been secured from DMRC for design and construction of tunnels for underground works between Mandi House to Jama Masjid including three stations under Delhi MRTS - Phase III Project and for the construction of a viaduct including ramp for Badarpur-Faridabad corridor.

In the water and effluent treatment business unit, L&T Construction has secured orders worth Rs348 crore from Gujarat Water Infrastructure Limited for providing, supplying, lowering,  jointing  and  commissioning  of  bulk  water  transmission  by  MS Pipeline at Surendranagar and Junagadh Districts in Gujarat under ‘Swarnim Gujarat  Saurashtra-Kutch Water Grid’ programme.

In the power transmission and distribution IC, new orders valued at Rs263 crore have been bagged from esteemed clients. The orders include construction of e-BOP system for 2x600 MW Coal fired thermal power plant at Singhitarai in Chhattisgarh from a private developer and another order from DMRC for supply, installation, testing & commissioning of EHV cables, Receiving Cum Traction substation and Auxiliary Main substation at Jaipur for Jaipur Metro Phase-I Project.

L&T Construction has also received additional orders worth Rs221 crore from various ongoing projects.

In the late afternoon, Larsen and Toubro was trading at around Rs1364.90 per share on the Bombay Stock Exchange, 1.29% down from the previous close.

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