Mudra Lifestyle, a well-known firm in the fashion market has announced that board of directors of the company has given the approval for setting up of yarn project costing Rs. 300 crore preferably in the state of Uttarakhand or Himachal Pradesh.

An official release from the company stated, “The project is proposed to be funded by contribution from Promoters by way of Warrants amounting to Rs. 36 crore, issuance of foreign currency convertible bond or overseas equity up to Rs. 200 crore and the balance by way bank loans.”

India Ltd, division of Welspun Group has announced that the company has acquired 76 % stake in Portugal-based Sorema - Tapates e Cortinas de Banho, SA for Rs 60 crore.

Sorema is a leading player in bath rugs and shower curtains around the world, with an annual turnover of € 10 million. Its network has spread across in 44 countries including USA, England, Spain and Germany.

According to Welspun, the companies have also signed an agreement for marketing products exclusively in Spain and Portugal as well as in other European countries.

Jyothy Laboratories Ltd has listed today at Rs. 895 on the NSE, at 30% premium or up by Rs. 205 from its issue price of 690 rupees.

The company is leading manufacturer of fabric care products, ayurvedic products, herbal products, air care products, and mosquito repellent products. The company is very popular in the market due to its fabric whitener, “Ujala”.

The company had come out with an initial public offering (IPO) of 44.30 lakh shares of Rs 5 each at a price band between Rs 620 and Rs 690 per equity share. The IPO was open for subscription from Nov. 22 to Nov. 27, 2007.

The Sensex gained over 318 points in early morning trade on the back of positive global cues but it ended with a moderate gain of only12 points.

Mumbai, Dec 19: The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) gained 12 points and closed at 19,091.

The Indian stock markets collapsed with Sensex falling 769 points on fears that risin