Barclays’ new debit card

Barclays launched in Bangalore on Monday another new product to customers in India, the country’s first Barclays Platinum Debit Card. This international debit card offered by VISA under its Platinum Debit Card programme offers benefits such as  attractive cash withdrawal facilities and a range of premium benefits on dining, golf, travel, shopping and other services.

Barclays customers can spend up to   Rs one lakh on their debit card per day.  Alternatively, they can withdraw up to the same amount from an ATM per day. Card holders can withdraw money from more than 23,000 VISA and VISA Plus ATMs and 325,000 stores across the country.

F&A trade show from Aug 17

The fourth edition of Fabrics & Accessories trade show will get underway at the Bangalore Trade Centre, Whitefield from August 17, 2007 to August 19, 2007. The 3-day annual event, organised by S S Media and Marketing, brings together manufacturers and suppliers of fabrics, trimmings, embellishments and related services under one roof. 

Sobha’s Q1 PAT up two fold

Real estate firm Sobha Developers on Monday posted an over two fold increase in Profit After Tax (PAT) at Rs 40.8 crore for the quarter ended June 30, compared to Rs 16.9 crore for the same period last year.

Total income of the company grew by 30.87 per cent to Rs 269.2 crore for this quarter from Rs 205.7 crore a year ago, the firm said in Mumbai. Shares of the company were trading at Rs 803.05, down 1.19 per cent on BSE on Monday afternoon.

Indian Hotels to raise Rs 1,924 cr

The board of Indian Hotels Company Ltd (IHCL) on Monday cleared a proposal to make a rights offer of two simultaneous but unlinked issue to shareholders raising over Rs 1924 crore for capital expenditure and growth plans including possible acquisitions in this fiscal.

IHCL, that operates Taj chain of hotels, said in Mumbai that it will issue rights shares in the ratio of 1:5 at Rs 70 per share, and the total amount raised would be Rs 844 crore. The company will also issue convertible debentures of Rs 150-180 in the ratio of 1:10 to raise Rs 900-1,080 crore.

HCL Tech’s net   up 109 per cent

HCL Technologies, on Monday, said its net income for the fourth quarter ending June 30, 2007 rose 108.9 per cent to Rs 486.7 crore, despite rupee appreciation.

Revenues for the April-June quarter jumped 28.6 per cent year-on-year to Rs 1,612 crore, the company said in New Delhi. Net income for the fiscal year ended June 30, 2007 increased 75.1 per cent to Rs 1,354.9 crore, while annual revenue was up 37.5 per cent at Rs 6,033.6 cr.

Ashok Leyland & Shriram tie-up

Ashok Leyland and Shriram Transport Finance Company, the asset financing NBFC in the country on Monday announced their strategic partnership in Ashley Transport Services Limited.

Hitherto wholly owned by Ashok Leyland and its group companies, Ashley Transport Services has been operating the  Transport Exchange, a brand-neutral freight intermediation service. 

Intel India’s fund for women

Intel India on Monday announced that Intel Foundation has created a special fund of $60,000 towards women’s education and empowerment in India. This fund will be utilised over a period of two years through Digital Empowerment Foundation- DEF. This was done to commemorate India’s 60 years of independence in 2007.

MOFSL fixes IPO price band

Motilal Oswal Financial Services Ltd (MOFSL) on Monday in Mumbai announced the price band for its IPO between Rs 725 and Rs 825 for an equity share of Rs 5 each.

MOFSL, an NBFC, proposes to enter the capital markets on August 20, 2007 with a public issue of 2,982,710 equity shares through 100 per cent book building process and the issue closes on August 23, 2007, informed by a press release.  The net issue to the public will be 2,840,400 equity shares.