Updates on Stocks

UTV Software Communications Ltd has informed BSE that the Hon'ble High Court of Judicature at Bombay by an Order made on the September 11, 2009, has directed that a meeting of the equity shareholders of the Company be convened to consider and approve the Scheme of Arrangement relating to UMP Plc, UTV Motion Pictures (Mauritius) Ltd. and the Company. The said meeting will be held on October 14, 2009.

Jindal Cotex to List on 22 September 2009

Acrylic and polyester yarn maker Jindal Cotex will list on the Bombay Stock Exchange and the National Stock Exchange on 22 September 2009.

The Ludhiana-based company had fixed issue price at the top end of the Rs 70 - Rs 75 a share price band set for the initial public offer (IPO).

The issue price of Rs 75 discounts the company's year ended March 2009 earnings per share (EPS) of Rs 1.7 by a price earning (PE) multiple of 44.11.

The public issue, which closed on 1 September 2009, was subscribed 2.20 times. The company got bids for 2.47 crore shares as against 1.12 crore shares offered.