Briefly Business

Japanese car major Nissan on Tuesday said it will launch its much-awaited small car Micra in India in July,and the base model could cost less than Rs four lakh....

Nissan small car Micra to hit roads in July

New Delhi: Japanese car major Nissan on Tuesday said it will launch its much-awaited small car Micra in India in July,and the base model could cost less than Rs four lakh. 8221;The new Nissan Micra will be launched nationwide on July 14,2010, the company said in a statement. The companys wholly-owned subsidiary,Nissan Motor India,will roll out the new Micra from its recently inaugurated facility at Oragadam near Chennai.

Technofab Engg IPO band at Rs 230-240

MUMBAI: Technofab Engineering,a power,oil and gas and industrial projects contractor,on Tuesday said it plans to raise around Rs 69 crore through its IPO,the price band for which has been fixed at Rs 230-240. The initial public offer IPO will open for subscription on June 29 and close on July 2. We plan to raise around Rs 69 crore from the IPO to meet our long-term working capital requirements and to purchase construction equipment, the companys CMD Avinash C Gupta said.

Wockhardt promoters pledge 6.7 cr shares

Mumbai: Debt-ridden drug firm Wockhardt on Tuesday said its promoters have pledged 6.7 crore shares,representing 61.87 per cent holding in the company. The company,however,didnt disclosed to whom the shares have been pledged and also the reason behind it.The drug major said its promoter firm,Khorakiwala Holdings and Investments Private Ltd,on June 7,2010,has pledged 6.29 crore shares,representing a holding of 61.47 per cent in the company.

RBI steps needed on inflation: Rangarajan

Hyderabad: Prime Ministers Economic Advisory Council chairman C Rangarajan on Tuesday said inflation level has reached an uncomfortable level and some action from the RBI is needed to prevent it from rising further. Inflation rate has reached uncomfortable levels. Therefore,some action is called for. It is for the Reserve Bank to decide on the timing. But,some action is called for, Rangarajan told reporters on the sidelines of a function at the University of Hyderabad.

SpiceJet allots shares to 4 Wilbur Ross cos

Mumbai: Gurgaon-based budget airline,SpiceJet,has made an allotment of 66,41,280 equity shares of Rs 10 each to four Wilbur Ross companies in India. The development follows the acquisition of 37.5 per cent stake in the air-carrier by South-India based media baron,Kalanithi Maran. The allotment has been made consequence upon the conversion of Foreign Convertible Currency Bonds FCCB by the holders,the company said in a BSE filing.

Emmbi Polyarns buys 25 in Czech company

mumbai: Polymer processing firm Emmbi Polyarns on Tuesday said it has acquired a 25 stake in Czech Republic-based Global Bag,a firm engaged in marketing of agricultural storage equipment,for an undisclosed sum. The company bought the stake from Austrian firm Silagro Gmbh.