Corporate Highlights

• Reliance Industries has recommended issue of bonus shares in the ratio of one equity share of Rs 10 each fully paid up for every one equity share of Rs 10 each of the company. Further, the board has declared a dividend of Rs 13 per fully paid-up equity share of Rs 10 each.

• Larsen and Toubro may exit Mahindra-Satyam by starting the process of selling its 6.9% stake soon after a lock in period expires early next week, aiming to book profit of over Rs 250 crore.

• JSW Steel's crude steel output jumped 54% to 1.54 million tonnes while flat products rose 28% to 923,000 tonnes in Q2 September 2009 over Q2 September 2008. Crude steel output for the half-year ended September 2009 was 2.92 million tonnes, up 48% from last year.

• Era Infra Engineering has secured two contracts worth Rs 146.79 crore

• Aban Offshore QIP is likely to open in November. The company is looking to raise between Rs 2,000–2,500 crore. Aban’s promoters are willing to dilute at Rs 1,900–1,950. The company is looking at dilution of about 20 -22%.

• Jindal Saw board meet on October 15 to consider stock split