Stocks to watch: Pantaloon Retail, Bhushan Steel, GMR Infra, Sobha Developers, Bombay Dyeing, Greenply
Pantaloon Retail, the nation’s largest retailer, plans to spin off at least five of its brands and merge them with Capital Foods, as Kishore Biyani looks to consolidate the foods businesses.
By ET Bureau |
MUMBAI: Pantaloon Retail, the nation’s largest retailer, plans to spin off at least five of its brands and merge them with Capital Foods, as Kishore Biyani looks to consolidate the foods businesses under one company to get ahead of global giants Nestle and Kraft with his home-grown recipes’ such as pav bhaji masala and lemon pickles.
Sumitomo Metal and Bhushan Steel, which had recently agreed to build a steel project jointly in West Bengal, are now understood to be looking at Karnataka as a second destination, as the southern state is increasingly seen as being easier to operate compared to other traditional steelmaking states.
Bangalore-based GMR Infrastructure is in advanced discussions with a couple of private equity funds to raise nearly Rs 1,500 crore for its power subsidiary GMR Energy, to enable it to fund its planned expansion.
PNC Menon, the chairman of Sobha Developers and its main promoter, on Monday sold some of his holdings in the company to Temasek for about Rs 100 crore. He is also negotiating to sell some of his stake in the group’s unlisted technology arm to the existing management.
The promoter Wadia family at Bombay Dyeing — a textile company, which also owns vast tracts of land in Mumbai — is considering raising its stake through a preferential issue of warrants. In a communique to the Bombay Stock Exchange, Bombay Dyeing said its board is meeting on February 10 to approve a proposal for the issue of warrants.
Greenply Industries' new laminate unit situated in Himachal Pradesh has started commercial production in third press with effect from February 08, 2010 out of a total of three presses proposed to be installed at the said unit.
Sumitomo Metal and Bhushan Steel, which had recently agreed to build a steel project jointly in West Bengal, are now understood to be looking at Karnataka as a second destination, as the southern state is increasingly seen as being easier to operate compared to other traditional steelmaking states.
Bangalore-based GMR Infrastructure is in advanced discussions with a couple of private equity funds to raise nearly Rs 1,500 crore for its power subsidiary GMR Energy, to enable it to fund its planned expansion.
PNC Menon, the chairman of Sobha Developers and its main promoter, on Monday sold some of his holdings in the company to Temasek for about Rs 100 crore. He is also negotiating to sell some of his stake in the group’s unlisted technology arm to the existing management.
The promoter Wadia family at Bombay Dyeing — a textile company, which also owns vast tracts of land in Mumbai — is considering raising its stake through a preferential issue of warrants. In a communique to the Bombay Stock Exchange, Bombay Dyeing said its board is meeting on February 10 to approve a proposal for the issue of warrants.
Greenply Industries' new laminate unit situated in Himachal Pradesh has started commercial production in third press with effect from February 08, 2010 out of a total of three presses proposed to be installed at the said unit.
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