Adlabs FCCB issue

Adlabs Films Ltd has informed that the Committee of the Board of Directors at its meeting held on November 30, 2007 has allotted 3,99,396 equity shares of Face Value Rs 5/- each for cash at a price of Rs 543.42 (including a premium of Rs 538.42) per share pursuant to the conversion notices received in respect of conversion of Zero Coupon Foreign Currency Convertible Bonds aggregating 4,000,000 Euros (or Rs 21,70,40,000) in value.

Pursuant to the allotment the total paid up share capital of the Company shall be Rs 20,72,08,830/- divided into 4,14,41,766 equity shares of Rs 5 each fully paid up.

Further pursuant to the allotment the Networth of the Company shall be Rs 400.35 crores.

The outstanding amount of Zero Coupon Foreign Currency Convertible Bonds is now 67,565,000 Euros in value.

Rap Media - Adlabs agreement

Rap Media Ltd has announced the execution of agreements with Adlabs Films Ltd for the Company's various existing and proposed sites at Agra, Meerut, Jallandhar, Amritsar, Ludhiana, Mohali & Patiala.

The Agreement pertain to :

1. The sale of Multiplex and Foodcourt area in Agra.

2. Leasing of Multiplex in Meerut and Revenue sharing of other area in Meerut.

3. Leasing of Multiplex in Amritsar, Ludhaina, Mohali, Patiala & Jallandhar.

Weekly Recommendations

Praj Industries: Buy

Investments can be considered in the stock of Praj Industries, a leader in biofuel technology, with a 2-3 year perspective. The company is well placed to benefit from the robust demand outlook for ethanol equipment and technology

Cummins India: Hold

While growth prospects for Cummins India appear attractive, concerns over currency appreciation and margin pressure could cap price appreciation.

Bharat Forge: Hold
Though slowdown and margin pressures may impact earnings in the short-term, the long-term prospects appear good.

3M India: Buy
A diversified roster of products and clients makes for bright growth prospects and resilience in earnings.

Radio waves
Sun TV Network through its subsidiary — South Asia FM — has picked up about 49 per cent stake in Red FM to further its FM Radio broadcasting business in the North, West and East Indian

Adlabs Films: Buy
As one or two box-office hits have the ability to magnify profits, investors need to take a long-term view