Month: February 2008

In an effort to live up to the expectations of small investors, Anil Ambani along with his core team in Reliance Power Ltd met just a while ago and have decided to convene a board meeting to issue Bonus shares to IPO investors excluding the promoter group.

Our analysts are quick to point out that the Bonus shares may get locked-in or may come with some clause to make the investor hold the shares for long-term. Lets not take the route American economy has taken for FREE and EASY Lunch. Let Anil Ambani strive, build and make Rel Power operational in record time to win the hearts of our rigid analysts.

Consider this as Tina Ambani’s gift for Reliance Power shareholders and also to save the ADAG group brand name which took a severe beating ahead of Reliance Infratel IPO.

HCL Technologies has informed us that it has been named by CRF UK, the independent business research organization, as one of Britain’s top employers, 2008.

Selected for excellence in HR management, the 100 chosen companies will be publishing in a title by guardian books and in the newspapers online version finalists will be formally announced at an awards dinner on March 20th, where the book will be launched. The book will contain company profiles of those selected, which will cover the company’s performance in relation to the assessment criteria and will offer commentary from the panel of advisors.

Congratulations to Shiv Nadar and HCL.

Punj Lloyd has bagged $300 mn order. The project, which starts this month and is slated for completion in April 2009, comprises the resort’s casino, theatres and retail arcade.

In December 2007, Punj Lloyd had secured a contract for building delayed coker unit & coker LPG Merox Block for the residue upgradation project of Indian Oil Corporation at its Vadodara, Gujarat refinery.

The company’s order book now stands enhanced at Rs 18,000 crore [$4.5 bn]

After JP Associates conference call, we were trying to figure out who is walking away with the remaining 45% of the newly formed entity JP Infra. Management has responded in e-mail but is still shady about the 45% which may goto management-politicians backing the deal. Welcome to Business India, Land of Shady deals 🙂

Here is the e-mail from the management.

In the past few hours we have received numerous enquiries from analysts and the investment community regarding JAL’ s shareholding in its SPV for the Taj Expressway project namely Jaypee Infratech Ltd.(JIL)

JIL was and remains to be a 100% subsidiary of the group. The authorised share capital of JIL was increased from Rs 200 crores to Rs1000 crores to meet its capital requirements, JAL subscribed to an additional 35 crore shares at Rs 10 each which represented 55% of the new authorised capital.

It is the same case like Anil Dhirubhai Ambani’s allotment to AAA ventures in Reliance Power IPO scam.