Funding for Vishal Retail

HDFC and promoters of Dabur, the Burman family, has picked up stakes in Vishal Retail, which promotes Vishal Mega Mart. Vishal Retail has divested 10.64 per cent stake in its retail store chain worth Rs 38 crore through private placement to fund its future expansion plans, a company statement said. The private equity placement was led by private equity firm Gaja Capital Partners along with HDFC, Burman family and other investors.

BoR branches

Bank of Rajasthan has added seven more online branches taking the number to 303 across 152 cities. The branches that have gone online include the Vet College branch in Bikaner, Bijolia and Chhoti Sadri branches in Bhilwara, NBSS and Bus Stand branches in Udaipur.

Greaves

Greaves Cotton Ltd’s revenues for the fiscal ended June 30 was Rs 947.61 crore for the financial year ended June 30 against Rs 738.33 crore a year ago, recording a growth of 28 per cent. Operating profit was Rs 140 crore compared with Rs 102 crore. Profit after tax rose to Rs 85 crore from Rs 62 crores.

Ceat plan

Ceat plans to expand its capacity and increase its market share in the three wheeler industry. The company is targeting to achieve a 20 per cent market share by 2007 from its current market share of 5 per cent.

Eastern Silk

Eastern Silk Industries’ net profit was Rs Rs 14.35 crore in the quarter ended June 30 against Rs 8.35 crore a year ago. Its topline was Rs 113 crore compared with Rs 86.65 crore.

UTI branch

UTI Bank has opened a branch at Udaiman Apartment on Boring Road in Patna. The bank has a network of 370 branches, 95 extension counters and 1,988 ATMs across the country.

Parsvnath

Parsvnath Developers has entered into an MoU with South America-based Movietime Cineplex Pvt Ltd to manage the multiplex cinemas to be developed as part of their retail projects.