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Money Matters | Areva T&D shares gain on open offer

Money Matters | Areva T&D shares gain on open offer
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First Published: Fri, May 28 2010. 10 21 PM IST
Updated: Fri, May 28 2010. 10 21 PM IST
Mumbai/New Delhi: Areva T&D India Ltd, a unit of the world’s largest maker of nuclear reactors, climbed to the highest in a month after a group including Schneider Electric SA and Alstom SA offered to buy a 205 stake.
The shares closed 7.16% up at Rs286.55 in Mumbai trading after gaining as much as 9.1% to their highest price since 28 April. The stock surged 12% on Thursday.
Schneider and Alstom said the offer to buy the shares was mandatory as part of their takeover of the French parent, Areva SA.
Bloomberg
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Emami announces 2:1 stock split; net rises 44%
Kolkata: Personal care products maker Emami Ltd on Friday announced a two-for-one stock split on a face value of Rs2. The shares will have a face value of Re1 each if the proposed stock split is approved by shareholders.
The company also said its net profit in the quarter till 31 March grew 44% over the corresponding period last year to Rs39 crore, while net revenue grew 19.7% year-on-year to Rs280 crore.
For the full year, Emami posted a net profit of Rs170 crore, 85% higher than last year, while net revenue at Rs1,038 crore was 35.8% higher.
Staff Writer
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First Published: Fri, May 28 2010. 10 21 PM IST