Tata Sons up its stake in Tata Tea

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Tata Sons has hiked its stake in Tata Tea from 19.1% to 22.8% via conversion of 2.8 million warrants into shares. Importantly, the conversion has already been approved by the Committee of Directors (CoD). The conversion at Rs.726.45/warrant was done as per the guidelines specified by SEBI. Before the hike, Tata Sons held 11.2 million shares in Tata Tea, while presently, Tata Sons holds 14 million equity shares of Tata Tea. Though an up-front payment of Rs.10 per warrant has been made, the balance amount was paid prior to the conversion.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Banking on the valley...

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“In the course of the last year, the management of J&K Bank has set in motion a multipronged strategy”

Jammu & Kashmir Bank comes 15th in our ranking, but considering how it has carved a separate space for itself amidst cut-throat competition in the sector, its accomplishment is noteworthy. The vision of M.Y. Khan (former Chairman) who spearheaded J&K Bank’s operations for more than eight years, and contributions of its present Chairman Dr. Haseeb Drabu has helped the bank scale new heights. One look at the J&K Bank website and a glance through the Chairman’s message will bring out the difference in this bank’s vision. While other banks sing paeans about the quality of their banking services, this J&K Bank Chairman’s message instead expresses strong views on the overall national banking and monetary scenario.

Apart from developing new products and an effective risk management system, Dr. Drabu is a strong believer of strong HR practices, which have ultimately translated into a better numbers for J&K Bank. The stock price of this bank is up by 50% over a period of one year and net profits have increased by 100% for FY07.

With over 500 branches, J&K Bank expects growth in FY 2007-08 from enhanced focus on its home state (J&K) market, especially for SMEs and horticulture entrepreneurs. The valley of flowers beckons.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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