Pivotals Dip On Kerb After Rao Move

MOREPAN LAB RIGHTS: Morepan Laboratories, a Haryana-based pharmaceutical company, is planning to enter the capital market with a rights issue aggregating Rs 78 crore in the ratio of 1:1. The shares would be offered at a premium of Rs 90. The funds mobilised will be used to part finance new facilities to manufacturing dane salt, loratadine and Cisaparide in Gurgaon, Haryana.

GAJARA BEVEL: Gajara Bevel Gears Ltd, engaged in the manufacture of automotive gears, has reported a net profit of Rs 3.46 crore for the period ended March, 1996. Turnover increased to Rs 48.42 crore from Rs 38.59 crore. The company's expansion project with a term loan from the IDBI was completed during the year.

 

JR FAB ISSUE: J R Fabricators, which manufactures LPG cylinders, is embarking on a modernisation plan involving a capital outlay of Rs 3.42 crore. To fund this project, the company is planning to enter the capital market with premium issue.