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Scrip Code:532939 Company Name:RPOWER News Subject: Reliance Power Board approves free Bonus in Ratio of 3:5 to all shareholders (excluding the Promoter Group)

News Body:

Reliance Power Ltd has announced that the Board of Directors of the Company at its meeting held on February 24, 2008, has approved a proposal for issuing free bonus shares to all categories of shareholders, excluding the promoter group (comprising of Reliance Energy Ltd. and the ADA Group), in the ratio of 3 shares for every 5 shares held, subject to necessary approvals. The proposed bonus offering will result in reduction of the cost of Reliance Power shares below the IPO price as follows: Rs 269 per share for retail investors, 40% lower than the IPO price of Rs 430. Rs 281 per share for other investors, 37% lower than the IPO price of Rs 450. In a related development, Mr. Anil D Ambani, Chairman, Reliance ADA Group, on February 24, 2008 simultaneously announced a voluntary contribution of 2.6% of his shareholding in Reliance Power to Reliance Energy Ltd., to protect the Company from any dilution of its existing 45% stake in Reliance Power, as a result of the bonus proposal. Accordingly, Reliance Energy's stake in Reliance Power will be maintained at the existing level of 45%. The reduction of Mr. Ambani's shareholding in Reliance Power by 5% from 45% to 40%, represents a contribution of nearly Rs 5,000 crore (US$ 1.2 billion) by him, in favor of nearly 6 million investors in Reliance Energy and Reliance Power. Commenting on the move, Mr. Ambani said, "I have been personally concerned by the notional losses arising to millions of long term investors in Reliance Power, as a result of a dramatic adverse change in sentiment in global and domestic capital markets, subsequent to the pricing of our IPO. Though equity shares are by their very nature risk-bearing instruments, nevertheless, we have taken these one-time and unprecedented measures today, in demonstration of our philosophy of endeavoring to protect and enhance value for all our long-term shareholders." Based on the proposal for issuance of bonus shares, the paid up share capital of the Company will stand increased to 239.7 crore equity shares of Rs 10 each. Reliance Power's IPO closed on January 18, 2008, receiving an overwhelming and record breaking response, with commitments of nearly Rs 7,50,000 crore (US$ 190 billion), from nearly 500 institutional investors across the globe, and 5 million retail investors. Reliance Power has the world's largest shareholder family of nearly 500 overseas and domestic institutional investors, and over 4 million retail investors. Reliance Power has a market capitalization of over Rs 94,000 crores (over US$ 23 billion) – among India's 10 most valuable private sector Companies, and a net worth of nearly Rs 14,000 crore (over US$ 3.5 billion) – among the top 5 private sector Companies in India on this parameter. Reliance Power is implementing power projects with aggregate capacity of over 28,000 MW, by far the largest development pipeline in the country.

ऐसा कहते सुना है...........

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Cubex Tubings manufactures copper and copper alloy products-seamless tubes, bus bars, rods etc which find application in core industries of power generation, refineries, ship building, defence, railways etc. The company is almost debt free, having B.V. of Rs 49, trailing 12m EPS of Rs13.5 and has blue chip clients like Siemens, NTPC, GE Power, SAIL, Kirloskar Electric and others. After the recent correction the stock looks very good bet for medium-term target of Rs 150 at current levels.

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Sadbhav Engineering is one of the leading construction companies operating in the business verticals of construction of roads and highways, irrigation and mining operations. Apart from the huge order book of Rs 2,600 crore in roads, highways and irrigation works, the company has reportedly bagged large orders in mining operations from GHCL and GMDC. It is also setting up lignite based power plants for Ultratech and Neyveli in Gujarat. Bonus or stock split predicted in near-term. Buy on declines for steady gains in medium-term.

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Maintenance, repair and overhaul segment of the aviation industry is expected to grow at 10 to 12 per cent CAGR. Dynamatic Technologies and Taneja Aerospace are the two listed stocks in this segment. Biggies like Lufthansa in association with GMR, Boeing, ATR and others are also planning to set up MRO facilities. Dynamatic Tech is Asia's largest producer of hydraulic gear pumps and has division of airframe structures. Taneja has recently tied up with France's Sabena to develop MRO facility. Buy both the stocks on sharp decline for good returns in long-term.

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Select stocks in textiles and logistics sectors like Gokaldas Exports, Bombay Rayon, S. Kumars, Allcargo, Balmer Lawrie, Sical and Gateway Dist are attracting buying interest. Rumours of revised open offer are doing rounds in Gokaldas. Blackstone holds nearly 70 per cent of the equity. Punters tip price of Rs 300 in short-term. Post commissioning of their new facilities, Bombay Rayon and S. Kumars are expected to stitch good numbers in coming quarters. Buy on declines. Blackstone's interest in Allcargo shows the importance of logistics space. Stay invested in logistics stocks and use current weakness to buy.

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Rel Power has decided to issue 3 bonus shares for every 5 shares held...

Maruti might bleed tomorrow --

NEW DELHI: Korean car major Hyundai on Wednesday said it has got approval for supplying vehicles to government institutions for the first time since it set up shop in India in 1996. The mid-sized sedan Accent GLE, has been selected by the Government of India for its fleet of official cars, Hyundai Motor India Ltd (HMIL) said in a statement. The Directorate General of Supplies & Disposals in the Department of Supplies under the Ministry of Commerce, the central purchase and quality assurance organisation of the Union Government, has approved the Accent GLE for use by all government departments across the country, it added. Commenting on the development, HMIL Senior Vice-President,Marketing and Sales, Arvind Saxena said it is a welcome acknowledgement of the company's products. "This government supplies is an important market for us and the Accent is the right product for this category of users with its compact size, high fuel efficiency and time tested performance," he added. With this, Hyundai Motor India, which currently sells around 1,000 units of the Accent GLE a month, expects to increase the user base of the sedan, the statement added. The Accent will be supplied to all government agencies at the Union and state levels at a special rate, it said without specifying details. The DGS&D is also currently evaluating the Hyundai Verna and Sonata models for registration as approved automobiles for acquisition by government bodies, it added.

ख़बर है कि.........

* Morgan Stanley units are a good bet in the volatile market. The fund is converting to an open ended fund soon. * Asian Oilfield services is at an attractive price level considering its future earnings potential. * Companies with open offer are a good bet. Check out on Lanxess ABS, NDTV for risk-free investments. * Budget could spur low budget realty growth. Eldeco and Ashiana Housing are good bets in this sector. * Ennore Coke looks good in view of the buoyancy in the coke prices worldwide. The scrip could race past Rs.150 mark in the next 6 considering its Metallurgical Coke project this months and power project next month. * Phoenix International Ltd. has come up encouraging Q3 numbers and looks highly undervalued at Rs.29. * Important developments are on in NEPC India Ltd. and the stock is already in the upper circuits.