Anil Ambani group firm Reliance Infrastructure Ltd said it will consider allotment of shares tomorrow, estimated to be worth about Rs4,000 crore, to a promoter entity.
The shares will be allotted pursuant to the promoter group entity AAA Project Ventures Pvt Ltd exercising option to convert the warrants allotted to them in July 2009.
In a regulatory filing to the Bombay Stock Exchange (BSE), R-Infra said that its committee of directors (Allotment) will meet on 7th January to consider allotment at a price of Rs928.89 per share to AAA Project Ventures pursuant to warrant conversion by them.
The conversion price is considerably above the current market price of R-Infra shares, which were trading 1.5% up at Rs869.45 in afternoon trade.
In June 2009, shareholders of the company had approved issue of warrants to the promoter entity. Thereafter, the company allotted four.
On Thursday, R-Infra gained 0.33% to Rs859.50 on the BSE, while the benchmark Sensex declined 0.57% to 20,184.74 points.
Tata Motors Ltd launched its new multi-purpose diesel vehicle 'Venture' in Rajasthan.
"We are launching the product first in Rajathan and later it will be launched in other states. The vehicle is with the footprint and manoeuvrability of a hatchback car, but the interior space of a utility vehicle," the company's head marketing and sales S Saxena said.
"We have focused on safety and luxury features in the vehicle. This the safest van among others (vans)...A collapsible steering and side impact beams protect occupants in an exigency. It meets crash safety norms applicable in the domestic market," he said.
"This is cost effective and customer friendly and we hope that it will be a great success in the Rajasthan market," Saxena said.
On Thursday, Tata Motors ended 1.82% down at Rs1,259.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.57% to 20,184.74 points.
Larsen & Toubro (L&T) Ltd said its buildings & factories unit has won orders worth Rs1,181 crore during the third quarter for the construction of residential buildings, factories including a specialised support facility building.
L&T has won orders worth Rs558 crore for the construction of residential buildings in major cities from developers. The company has also won orders worth Rs298 crore for the construction of factories. It has also got a turnkey project worth Rs325 crore for the design & construction of a specialised support building facility.
On Thursday, L&T ended 2.74% down at Rs1,877.50 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.57% to 20,184.74 points.