Abhishek Securities

Gujarat NRE Coke has informed that with reference to the Scheme of Amalgamation of NRE Metcoke Limited and Bajrang Bali Coke Industries Limited (Transferor Companies) with the Company i.e. Gujarat NRE Coke Limited (Transferee Company), approved by the Hon’ble High Court at Calcutta on January 21, 2016, the Company has now filed High Court’s Order with the Ministry of Corporate Affairs on March 16, 2016. On filing of the said order the Scheme of Amalgamation has become effective with effect from April 01, 2014 (Appointed Date). The above information is a part of company’s filings submitted to BSE.

Gujarat NRE Mineral Resources Limited Bonus Issues (26.5.2013) Board Recommends Bonus Shares (26.5.2013)  Keeping with Gujarat NRE Group’s policy towards creating value for its investors, the Board of Directors proudly recommends issue of Bonus Shares in the ratio of 1:2 i.e. one equity share of Rs. 10/- each to be credited as fully paid-up for every two existing equity shares of Rs. 10/- each of the Company. In the interest of the Company and its non-promoter shareholders, the promoter of the Company Mr. Arun Kumar Jagatramka, his family members and the entities belonging to the group, have decided to waive their respective entitlements to receive Bonus Shares as aforesaid. Accordingly, the Bonus Shares would be issued to non-promoter shareholders only. Consequently, post issue of Bonus Shares, the stake of the promoter group in the Company would come down from present 89% to around 82%. The aforesaid recommendation of Bonus shares is subject to the sh...

Gujarat NRE Coke, the largest independent producer of met coke in India, dropped 20% on Wednesday (27/11/2013) . Shares of the company are trading at Rs 8.44, down Rs 2.1, or 19.92% at the Bombay Stock Exchange (BSE) on Wednesday at 2:35 p.m. The scrip has touched an intra-day high of Rs 10.70 and low of Rs 8.44. The total volume of shares traded at the BSE is 1,108,284. In the earlier session, the shares declined 10.22%, or Rs 1.2, at Rs 10.54. Currently, the stock is trading at all time 52-week low, which is below 64.54% over the 52-week high of Rs 23.80. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Union Minister of Steel Beni Prasad Verma was handed over a dividend cheque of Rs. 23.72 Crore for the financial year 2012-13 by the CMD of MSTC, Shri S. K. Tripathi here today.   The Minister expressed his happiness over the company’s increasing profits and turnover. Shri Verma exhorted MSTC to diversify into e-auction of various other articles so as to establish a firmer market presence.   In the Annual General Meeting held on 27th September 2013, MSTC’s dividend was declared at 300% of the paid up equity capital for the financial year 2012-13.   MSTC registered a record Profit before Tax (PBT) of Rs.193 Crore during the financial year 2012-13, which is about 10% more than the previous year. The total volume of business during the year was Rs.25, 506 Crore. The company registered an increase in the company’s reserve by around 16%.   The Secretary, Ministry of Steel Shri G. Mohan Kumar was also present on the occasion. Sandip Ginodia A BHISHEK SECURITIES We...

Hundreds of Gujarat NRE Coking Coal workers will walk off the job tonight if they do not receive a guarantee of at least one week's wages from the company. Late yesterday, CFMEU southwestern district vice president Bob Timbs said he had still not heard from Jindal representatives, who are effectively operating the Illawarra company following a shareholders meeting that gave them the chance to acquire majority control.Construction, Forestry, Mining and Energy Union (CFMEU) members voted on Friday to withdraw labour from the Wongawilli and Russell Vale mines if news of their long-overdue payment was not forthcoming by midnight today. Mr Timbs was hopeful a deal could be reached by today. However, there is a chance workers could still be left begging because Gujarat owes in excess of $8 million to the Australian Taxation Office, which has put a garnishee order on the company's bank accounts. Unless the order is lifted, payments made to workers could go directly to the A...

Jindal Steel and Power Ltd (JSPL) has acquired a majority stake in Gujarat NRE Coking Coal, the Australian subsidiary of Kolkata-based Gujarat NRE Coke, which would enable it to secure resource supply and minimise risk in prices. The deal will enable JSPL acquire a majority stake of 53.63 per cent in Gujarat NRE Coke's Australian subsidiary through a deal that involves issue of convertible notes, placement of shares and option to acquire shares at a later stage. The deal was cleared by shareholders of Gujarat NRE Coking Coal in a general body meeting in New South Wales. "The deal with Gujarat NRE will give us an assurance in supply and price stability, which is why we are exploring opportunities outside India, as there is a shortage of resources in the domestic market," said Ravi Uppal, MD and CEO, JSPL. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecuritie...

Gujarat NRE is looking to further expand its coal operations on Illawarra , with plans to establish new mining domains going on public display. The Illawarra Mercury reported that Gujarat NRE’s application for a major mine expansion at NRE No1 Colliery is part of the company’s expansion at the Russel Vale site. The application states that there could be negative impacts for residents in the local area including more coal trucks on the roads, and noise from site operations. However, the company says that these issues will be mitigated by the construction of noise barriers, the use of acoustic mitigation equipment, and by enforcing a driver conduct code. The expansion could produce three million tonnes more coal per annum, with a total of 46 million over the predicted 18 year lifespan of the project. The expansion is also expected to increase the mine’s workforce by 53. Gujarat NRE said the expansion would generate USD 609 million over the life of the project, with local e...

Gujarat NRE Coking Coal (GNCCL), the Australian subsidiary of India-based Gujarat NRE, has announced that India-based Jindal Steel & Power Limited (JSPL) has increased its shareholding in the company from 19.46 percent to 26.75 percent as of February 19. As SteelOrbis previously reported , GNCCL had recommended its shareholders reject JSPL's offer of A$0.20 per each share, stating that JSPL's offer undervalued the shares and did not adequately reflect the company's future prospects. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.in  . Visit :  www.abhisheksecurities.com  . Like us on facebook :  www.facebook.com...

  New Delhi-based Jindal Steel and Power (JSPL) has made an open offer to acquire the entire outstanding shares of Gujarat NRE Coking Coal listed on the Australian Stock Exchange (ASX) for a total consideration of A$221.61 million (about Rs 1,200 crore). The offer was made through Jindal Steel and Power (Australia) Pty, a wholly-owned subsidiary of Jindal Steel and Power (Mauritius) and will be open from February 15 to March 15, said Jindal Steel and Power in a statement on ASX. The $0.20 (Rs 10.62) cash offer allows Gujarat NRE Coking Coal shareholders to realise full and fair value for their shareholding in a volatile equity market, said Vikrant Gujral, Group Vice-Chairman and head of Global Venture, Jindal Steel and Power, in a statement. The offer represents five per cent premium to the closing price of $0.19 on January 29 and 15 per cent premium on the volume weighted average share price over the previous three months, it added. The Naveen Jindal-own...