Company Updates

SBI To Raise $44 b In 5 Yrs

Mumbai: State Bank of India Stock ChartAccording to the sources, State Bank

TVS Electronics Advances Further

TVS ElectronicsIn early trading (10:05 am), TVS Electronics is quoting at Rs 47.45, up Rs 2.25. The stock price touched an intraday high of Rs 47.45 and an intraday low of Rs 47.25.

The company’s board has also approved transfer of 35.85% stake in TVS Finance to holding co. TVS Investment for Rs 14.84 cr. They struck down preferential apportioning of 36 lakh warrants exchangeable into equity at RS 48.50/sh to TVS Investment.

Surana Corp. Net Up 49% In Q1

Surana Corporation has registered a significant jump in net profit for the quarter ended June 2007. The company declared a 49.07% profit growth to Rs 54.23 million from Rs 36.38 million in the corresponding period of the last year (2006).

The quarterly sales of the company slumped 38.35% to Rs 3,988.73 million as compared with the corresponding quarter, a year ago.

Operating margins augmented to 1.52% in the same quarter, which showed an increase of 26.50 basis points as against its previous quarter, a year ago.

PepsiCo To Buy Russian Juice Company

PepsiCoMoscow: In order to enhance its modest Russian juice market share, US snack and beverage giant PepsiCo is all set to get hold of 76 per cent of Russia’s leading juice maker, Lebedyansky for $2 billion.

PepsiCo is making concluding discussions over the acquisition that will be the biggest ever in the worldwide juice industry. The deal would have effect before the year end.

ICML Plans Global SUV, To Invest Rs 800 Cr By 2010

Ambala: Presently Sonalika group’s International Cars and Motors (ICML) is working on a sports utility vehicle (SUV) model for which it has joined hands with an international design house and will

P&G Board To Consider Dividend On August 24

Procter & GambleA board meeting of Procter & Gamble Hygiene & Health Care will be held on Aug. 24, 2007 to think about dividend recommendation for the year ended Jun, 30, 2007.