Pipavav to allot INR 81 crore warrants to Rakesh Jhunjhunwala

Pipavav Defence and Offshore Engineering Company Limited (formerly Pipavav Shipyard) said that its board has approved issue of securities worth INR 81.90 crore to ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala and his close associate Utpal Sheth.

The company in a filing to the Bombay Stock Exchange said that the securities amount to 10,500,000 warrants. It added that Rakesh Jhunjhunwala and his wife would be alloted 5,000,000 warrants each, while Utpal Sheth will get 500,000 warrants.

Besides this, the company Board also approved issue of 1 crore warrants, worth INR 78 crore to its promoters Grevek Investments and Finance Pvt Ltd.

The filling said that each warrant, issued at a price of INR 78, is convertible into one fully paid up equity share of INR 10 each of the company, at any time within 18 months from the date of allotment.

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IOC buys 5 million barrels of West Africa crude

Indian Oil Corp has bought about 5 million barrels of West African light crude, all from majors, via its tender to buy oil for November loading.

Traders said that India's largest refiner bought Nigerian Yoho and Equatorial Guinea's Zafiro from Shell, Nigerian Amenam and Angolan Girassol from Total and Nigerian Escravos from Chevron

Price details did not emerge. It is not clear if IOC has issued the next tender yet.

A trader said that "They have taken 5 cargoes in November on the first tender, it looks like good, or perhaps we should say a return to normal demand.”

In October, IOC bought only 2 million Some said IOc's tenders have been further out as the Nigerian market is still trading end-October cargoes, giving advantage to oil majors that have equities in African oil producers.

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TATA Power Club Enerji spreads the message on conservation in Belgaum

TATA Power India’s largest Integrated Private Power Company has been associated with various community programs in Belgaum, specifically in the area of education and environment conservation.

In continuation with these efforts, TATA Power organized an Energy conservation camp at the Government Kannada Medium School at Mahantesh Nagar, Belgaum on August 12th2011 under its national energy conservation program called TATA Power Club Enerji (formally known as TATA Power Energy Club).

With the increasing demand for energy and depleting natural resources, effective management and conservation is the need of the hour. ‘TATA Power’s Club Enerji’s main aim is to inculcate civic responsibilities and leadership qualities in children to better manage their tomorrow and also help them spread the conservation message to their parents, peers and society at large.

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GP steel HDG price update on September 7

GP
100Gms
0.40

Location	Change
Mumbai	523
Chennai	0
Kolkata	0
Delhi	0
Ludhiana	0
Kanpur	0
Rudrapur	0
Bangalore	0

Change is on 7th September as compared to 6th September 2011
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

(Sourced from www.steelprices-india.com)

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GC steel HDG price scenario on September 6

GC
100Gms
0.40

Location	Change
Bangalore	0
Chennai	0
Delhi	0
Kanpur	0
Kolkata	0
Ludhiana	91
Mumbai	0
Rudrapur	0

Change is on 6th September as compared to 5th September 2011
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

(Sourced from www.steelprices-india.com)

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