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ICICI Bank Q3 net dips 26% to Rs 1,101 cr
Private sector lender ICICI Bank today reported a 26.36 per cent drop in consolidated net profit at Rs 1,148.66 crore for the third quarter (Q3) ended December 31, 2009.

Sobha set to raise another Rs 250 cr from land sale
Sobha Developers, the Bangalore-based realty player, is set to raise another Rs 250 crore by selling a little over 100 acres of its land in Pune. The company has been making headway to settle a part of its Rs 1,900 crore debt by selling part of its 3,000-acre land bank spread across the country. Sobha recently raised close to Rs 530 crore through the Qualified Institutional Placement (QIP) route. With a debt of Rs 1,900 crore, the company was leveraged 1.6 times and it is understood that a part of the proceeds from QIP is being used to settle a part of that.

News of the day

RCom partners Microsoft for Windows mobile solutions
Anil Ambani-led Reliance Communications (RCom) today announced its partnership with software major Microsoft for offering Windows Mobile solutions on its wireless networks.
Home Business

Suven Life Sciences to raise $50 mn via securities

Pharmaceutical firm Suven Life Sciences today said it will raise $50 million (nearly Rs 239.5 crore) through the issue of securities. - Hindalco: A little more sheen - Ketan Parekh moves SC seeking permission to travel abroad - Haryana govt to sell securities worth Rs 1,200 cr - Suven Life gets two more US patents for NCEs - Daiwa to buy out SMFG, ending bank venture - ICICIdirect.com starts online trading in currency futures The shareholders of the company have approved to raise $50 million by issuing American Depository Receipts, Global Depository Receipts and Foreign Currency Convertible Bonds or by convertible securities or other debt instruments, Suven Life Sciences said in a filing to the Bombay Stock Exchange(BSE). The shareholders have also approved the appointment of DG Prasad and Martin Tolar as Director on the board of the company, the filing added. Shares of Suven Life Sciences were trading at Rs 32 on the BSE, up 2.89 per cent from previous close.


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