Corporate Highlights

• HCL Infosystems gets 5-yr outsourcing deal from Fortis Healthcare

• Koutons is looking to raise funds in mid Sep. It was looking to raise Rs 100 cr via QIP. The company is raising funds for expansion plans over 2 years & to set up new stores. It is also raising funds to enhance size of existing stores.

• MIC Electronics has entered Australia in LED lights segment to supply 30,000 lights. The company supplied 60W LED street lights to Campbell town council via distributor, TLE Electrical. It is still to supply lights to 2 more councils.

• AV Birla Group Sep cement sales up 15.8% at 2.77 mt YoY; ACC Sep cement sales at 1.63 mt Vs 1.67 mt (YoY). JP Associate Cement dispatches up 12.74% at 6.92 lakh mt in September.

• The Grasim board has decided to demerge its cement business into Samruddhi Cement, a wholly-owned subsidiary of the company. Grasim’s shareholders would receive one equity share of Samruddhi for every one share they held in Grasim.

• CESC said that the company has initiated dialogues with PE for diluting 15-20% stake in Spencer. The company will dilute only if it receives a fair valuation. The negotiations are on, and the valuations are being disscussed. Retail reveneus in FY10 are seen at Rs 1000 crore.

• Tata Motors Sep total sales at 52,513 units; up 6% (YoY). Hero Honda Sep total sales at 4.01 lakh units vs 3.85 lakh units (YoY)