Kalyani Steels' board approves composite scheme of arrangement

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ACQUISITION TO BE INCREMENTALLY POSITIVE FOR RELIANCE INDUSTRIES
UNLIKELY TO SEE SHARP CORRECTION IN MARKETS, NOT POSITIVE ON REALTY SPACE
IMPORTS & EXPORTS TO BE USED TO KEEP SUGAR PRICES RANGE BOUND
NEED A LONGER TERM PRICE OBJECTIVE FOR CROPS LIKE SUGARCANE
RIL TO GET CHEAP FEEDSTOCK VIA LYONDELL BASELL ACQUISITION
RIL TO GET CHEAP FEEDSTOCK VIA LYONDELLBASELL ACQUISITION
RIL WILL GET CHEAP FEEDSTOCK BY THIS ACQUISITION
RIL IN A MUCH STRONGER POSITION THAN COMPETITORS FOR THIS ACQUISITION
MARKET DIVIDED OVER FED'S DIRECTION IN TERMS OF INTEREST RATES
INDIAN ECONOMY LOOKING A LOT BETTER THAN OTHERS
HANG SENG UP 0.56%; NIKKEI DOWN 0.54%; KOSPI DOWN 0.17%
JAPANESE MARKET SHUT TODAY ON ACCOUNT OF THANKS GIVING
ACQUISITION TO GIVE RIL BARGAINING POWER IN PROCUREMENT & SALES
RIL'S INTEREST DOESN'T COMMIT MUCH NOW BUT GETS RIL A FOOT IN THE DOOR
NYMEX CRUDE AT $78/BBL ON TENSIONS BETWEEN IRAN & WESTERN NATIONS
HDIL LOSES 1.5%, ADDS 9 LAKH SHARES IN OPEN INTEREST
NTPC GAINS 1.1%, ADDS 12.7 LAKH SHARES IN OPEN INTEREST
BHARTI LOSES 1.5%, ADDS 14.7 LAKH SHARES IN OPEN INTEREST
DENA BANK GAINS 13.7%, ADDS 45.9 LAKH SHARES IN OPEN INTEREST
NIFTY NOVEMBER PUT-CALL RATIO AT 1.83 VS 1.58 ON THURSDAY
NIFTY ROLLOVERS STOOD AT 26.7%
NIFTY PREMIUM OF 13.8 POINTS VS A DISCOUNT OF 2.4 POINTS ON THURSDAY
NIFTY NOVEMBER FUTURES SHED 14.5 LAKH SHARES IN OPEN INTEREST
FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN

Updated: 03/11/2009 | 12:00 AM IST

Manufacturing

Capital Market

Tuesday, November 03, 2009 (New Delhi)

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On 03 November 2009

The board of Kalyani Steels has considered and approved the Composite Scheme of Arrangement under Sections 391 to 394 read with Sections 100 to 103 and other relevant provisions of the Companies Act, 1956, for demerger of the Investment Division of Kalyani Steels into Kalyani Investment Company, and amalgamation of Chakrapani Investments & Trades and Surajmukhi Investment & Finance and Gladiolla Investments with Kalyani Investment Company and reduction of Equity Share Capital of Kalyani Steels, respectively.

This was approved at the board meeting held on 03 November 2009.