SOHM, Inc. Announces Name Change, Reverse Stock Split and Other Corporate Changes

SOHM, Inc. (PINKSHEETS: SHMN), a leading US based Import Export Organization specializing in global trading through China and India, announced today that it has completed the steps necessary to change its name from Alpine TLI Group, Inc., to consummate a reverse split of its common stock at a ratio of one-for-50, effective today September 11, 2008, and to effect other corporate changes.

At a special meeting of shareholders held on August 26, 2008, Alpine's shareholders approved proposals to change the company's name to "SOHM, Inc." and to effect a reverse stock split of Alpine's common stock, at a ratio of one post-split share for each 50 shares currently outstanding. Based on that authorization, the Company's management completed the actions necessary to effect the name change and reverse stock split. The common stock of SOHM, Inc. began trading on September 11, 2008 on a post-split basis under the symbol "SHMN."

Management anticipates that the reverse stock split will reduce the number of outstanding shares of SOHM's common stock to approximately 14,360,000 shares and the current public float to 360,000 shares. SOHM does not presently have any shares of preferred stock outstanding.

Existing officers and directors of Alpine TLI Group, Inc.: Mr. Taylor Abegg has resigned.

Newly appointed officers and directors of SOHM, Inc. are: Mrs. Swati Shah, CEO/President/Director; Mr. Sharad Joshi CFO/Treasurer/Director.

About SOHM, Inc.

SOHM, Inc. is a leading US based Import Export Organization specializing in global trading of a diversified product portfolio ranging from Manufacturing, Medical Equipment, Pharmaceuticals and Chemicals.

The Company has established and maintains long standing relationships in China and India which are the world's largest product suppliers. Our Asia-Pacific manufacturers allow us to import, export, and/or source quality products in China and India; sharply reducing business costs and increasing the profits of our client corporations.

Safe Harbor Statement

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of SOHM, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Birla asset split spares Chambal

Krishna Kumar Birla’s estate is being carved up among his heirs under the terms of his will.

Saroj Poddar, the eldest son-in-law, will take over Zuari Industries Ltd — the largest company within the KK Birla empire. He will also manage Texmaco Ltd, the largest wagon manufacturer in India.

However, the three daughters — Jyotsna Poddar, Nandini Nopany and Shobhana Bhartia — will jointly own Chambal Fertilisers and Chemicals Ltd, the second largest company within the group. Poddar will be the chairman of Chambal.

Kumar Mangalam Birla, the grandson of younger brother Basant Kumar Birla, will manage the Birla Institute of Technology and Science, the country’s premier engineering institution.

The sugar companies will be divided between younger daughter Nandini Nopany and the Poddars.

Nandini’s son Chandra Shekhar Nopany will run Oudh Sugar Mills Ltd, Upper Ganges Sugar & Industries Ltd and Sutlej Textiles and Industries Ltd.

The Poddars will take over Gobind Sugar Mills Ltd, the other prominent sugar company within the group.

Hindustan Times Ltd, which owns listed media company HT Media Ltd, will go to Shobhana Bhartia.

The big question is whether the three daughters and their families will continue to remain as part of the KK Birla group.

“For the time being, everything will be as it is today. But the family has not decided whether the daughters will carve out their own identities going forward,” said a Birla family member.

KK Birla died at the age of 90 on August 30 after a brief illness, just weeks after his wife Manorama Devi had passed away.

During his lifetime, Birla had put in place a clearly defined management structure that gave some indication of how the group assets would be divided.

However, there was considerable public interest in KK Birla’s will, especially after the controversy over the disputed will of Priyamvada Birla, chairperson of the MP Birla empire.

Priyamvada bequeathed the entire assets of the MP Birla group to Rajendra Singh Lodha, sparking a protracted legal battle between the Birlas and the “outsider”.

On Thursday, the Texmaco board anointed Saroj Poddar as the chairman of the company. Earlier, he was the executive vice-chairman.

Poddar is a past president of the Federation of Indian Chambers of Commerce and Industry and manages several companies such as Gillette and Singer. He was also the co-chairman of Zuari and Chambal.

Zuari, with its subsidiary Paradeep Phosphates, is the largest within the group with net sales of Rs 3,968 crore in 2007-08.

Chambal Fertilisers posted a turnover of Rs 3,205 crore in the last financial year.

Birla family sources said Poddar would take over as the chairman of Zuari and Chambal soon.

Bhartia will assume the chairmanship of the Hindustan Times group.

Chandra Shekhar Nopany will soon be named the chairman of Sutlej Textiles. He is already the chairman of Oudh Sugar, while his mother heads Upper Ganges.

The stock markets will be keenly waiting to see how the family members untangle their crossholdings.

Zuari is the largest shareholder in Chambal Fertilisers with a 12.94 per cent stake, followed by Hindustan Times with 10.62 per cent and SIL Investments Ltd (which belongs to the Nopanys) with 7.73 per cent.

However, SIL is the largest shareholder in Zuari Industries with a 10.90 per cent stake.

India Steamship, the shipping business within the KK Birla group, is part of Chambal and will, therefore, be owned jointly by the daughters.

Splits wide shut in bear-hit 2008

MUMBAI : At times, there is a positive side to bear markets. Promoters stop resorting to shenanigans that are in vogue when the market is booming. With the Sensex yet to recover from the slide that began in January this year, the number of stock splits too have fallen sharply.

Stock splits involve reducing the face value of a stock from Rs 10 to smaller denominations like Rs 2 or Rs 5, in a bid to proportionately reduce the listed price of a scrip on the exchange, and to make it more accessible to a larger investing community base.

However, with the BSE Mid-cap index declining by a whopping 43% from its peak in the first week of January 2008 to 5778 currently, and the Sensex at 14,900, also lower by 28.4% from its peak, analysts point out that there is little pressure on the managements of India Inc to make their respective stocks more accessible to the investor community.

In fact, some market watchers make snide remarks that stocks are already quoting at a fraction of their earlier highs, even without a stock split.

Says Motilal Oswal Financial Services founder and managing director Ramdeo Agrawal: “At the moment, investors are more concerned about the companies’ focus on improving their earnings and operating margins, rather than cosmetic changes like stock splits.”

Metal stocks slide in subdued market

Sustained selling in index pivotals weighed on weak global cues kept the bourses subdued in afternoon trade. The metal stocks were under selling pressure, led by Sterlite Industries which tanked over 9%. The BSE 30-share Sensex was down 86 points.
The US stocks slumped on Tuesday as financial shares sold off on worries about Lehman Brothers' ability to raise much-needed cash. The Dow Jones industrial average plunged 280.01 points, or 2.43%, to 11,230.73. The S&P 500 index fell 43.28 points, or 3.41%, to 1,224.51, and the Nasdaq Composite index declined 59.95 points, or 2.64%, to 2,209.81.
Asian markets were mixed on Wednesday. Key benchmark indices in Japan, Hong Kong, Singapore were down by between 0.81% and 1.55%. Indices in China, South Korea, and Taiwan rose between 0.52% and 0.79%.
At 12:25 IST, the BSE 30-share Sensex was down 86.04 points or 0.57% to 14,815.41. It opened 188.23 points lower at 14,717.53, which is also its day's low so far. At the day’s high of 14,866.32 hit in mid-morning trade, the Sensex fell 34.44 points.
The S&P CNX Nifty slipped 17.05 points or 0.38% to 4,451.65.
Reliance Power was down 0.12% to Rs 169.20 on 18.12 lakh shares. The stock replaced Dr Reddy’s Labs in Nifty index from today. Dr Reddy’s Labs slipped 1.14% to Rs 571.85.
The market breadth was negative on BSE with 1247 shares declining as compared to 1066 that advanced. 101 remained unchanged.
The total turnover on BSE amounted to Rs 2114 crore by 12:30 IST on BSE as compared to Rs 1289 crore by 11:30 IST.
Among the 30-member Sensex pack, 17 advanced while the rest declined.
The BSE Metal index lost the most among the sectoral indices on BSE, sliding 2.64% to 11,490 weighed by steep fall in Sterlite Industries. India’s largest aluminium and copper maker by sales tanked 9.24% to Rs 522.50 after plunging 7.50% to Rs 575.70 yesterday, 9 September 2008. The Sterlite ADR tumbled 16.23% yesterday, 9 September 2008 on the New York Stock Exchange (NYSE).
The counter saw high volumes of 22.95 lakh shares on BSE today. It was the top loser from the Sensex pack. The company yesterday, 9 September 2008 said its parent Vedanta Resources PLC has approved a restructuring program of the group's businesses. Under the scheme, Sterlite will demerge its aluminium and energy businesses to Madras Aluminium which will be later renamed Sterlite Aluminum. Sterlite Industries shareholders would get seven shares in Madras Aluminium for every four shares held as part of a restructuring.
Tata Steel (down 2.59% to Rs 549.80), Sesa Goa (down 2.92% to Rs 143.20), and Hindustan Zinc (down 1.16% to Rs 543), were the other losers from metal pack.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) declined 1.72% to Rs 2106.70 on 3.13 lakh shares. The stock came off its day’s high of Rs 2135 hit in early trade. As per reports, the Prime Minister’s Office (PMO) may recommend levy of export tax or even ban petroleum product exports from Reliance's export oriented refineries in Jamnagar.
ICICI Bank (down 2.29% to Rs 696.50), Tata Power (down 1.98% to Rs 1065), and Maruti Suzuki India (down 1.21% to Rs 699.60), edged lower from Sensex pack.
North India’s largest cement maker by sales ACC gained 1.47% to Rs 605.40 and was the top gainer from Sensex pack.
India’s second largest software services exporter Infosys Technologies rose 1.13% to Rs 1767. The stock came off day’s low of Rs 1726.
Jaiprakash Associates (up 1.28% to Rs 174), Wipro (up 0.86% to Rs 437.90), and Hindalco Industries (up 0.68% to Rs 126.60), edged higher from Sensex pack.
Among the small and mid-cap stocks, Atul Auto (up 18.43% to Rs 49.35), Savera Hotel (up 14.18% to Rs 62.80), Indowind Energy (up 12.65% to Rs 69.45), RSWM (up 12.21% to Rs 81.80), and Xpro India (up 12% to Rs 28), surged.
Shreyas Shipping & Logistics rose 0.91% to Rs 55.20 after the company said it has sold its vessel M V OEL India for consideration of $28.50 million. The company made this announcement during trading hours on Tuesday, 9 September 2008, when the stock surged 7.57% to Rs 54.70.
Hydro S&S Industries galloped 16.17% to Rs 40.40 after the company said its board will meet on 16 September 2008 to consider buyback of equity shares. The company made this announcement after trading hours on Tuesday, 9 September 2008.
Madras Cements gained 5.11% to Rs 2644.05 after the company’s board fixed 10 October 2008 as the record date for 1:1 bonus issue and 10-for-1 stock split. The company fixed the record date after trading hours on Tuesday, 9 September 2008.
Meanwhile the central bank governor Duvvuri Subbarao said on Tuesday, 9 September 2008 that India's inflation is showing signs of moderating but it is too early to conclude whether this is a trend and signaled that he would wait and see before taking any fresh steps.
US crude for October 2008 delivery rose 52 cents at $103.78 a barrel today, 10 September 2008, after the Organisation of Petroleum Exporting Countries (Opec) surprised traders with a deal to effectively cut production by just over 500,000 barrels per day (bpd). US crude for October 2008 delivery had touched a 5-month low of $103.72 yesterday, 9 September 2008.

Adani Power gets Sebi nod for IPO; offer steeply priced

Adani Power, a subsidiary of Adani Enterprises, has received the Securities and Exchange Board of India’s, or Sebi, approval for an initial public offering, or IPO. The company is likely to offer about 26.7 crore shares to the public. It plans to raise about Rs 5,800 crore through the IPO.



The parent currently holds about 86.45% stake in the company. It would dilute about 14% stake in the company through this IPO. Its stake will go down to about 74% in Adani Power post issue.



On the valuation front, this Rs 5,800 crore, which they are planning to raise, values Adani Power at about Rs 41,000 crore, or about Rs 200 per share.



Earlier, Adani Power was planning to tap the market but a conversion of preference shares took place. 3i converted Adani Power’s preference share at Rs 46.8 per share. These were ex- bonus. After that, there was a bonus issue in the ratio of four shares for every five shares held. Ex-bonus, the value comes to about Rs 26 per share.



Surprisingly, the company is planning to raise funds at a substantial premium to its valuation. Adani Power is planning to implement mega thermal power projects across India and plans to get into power transmission in a big way. However, there is no clarity on the valuation front. It seems like a pretty steeply priced IPO as of now.

News Update - Max India Ltd

Private insurance-provider Max India has entered into an agreement
with the UK-based Bupa to set up a standalone health insurance
company.

The joint venture partner British United Provident Fund (Bupa) will
hold 26 per cent of the stake in Max Bupa Health Insurance Ltd with
Max holding the rest.

However, Bupa will have an option and right to go up to maximum
amount of FDI allowed by the government in case FDI reforms take
place, Max India Chairman Mr Analjit Singh said here on Thursday.

The initial share capital of the JV will be Rs 100 crore and the
business are expected to be up and running in 12-15 months, Mr Singh
added.

He said, "We are not in a hurry to launch (the joint venture)
immediately. We want to have ground preparation first which will
take at least 12-15 months''.

Buy Back Plan - Bosch Ltd

Auto parts firm Bosch Ltd , a unit of Germany's Robert Bosch said on Tuesday its board approved a buyback of shares. The shares would be bought back at a price not exceeding 4,500 rupees a share, or up to 25 percent of Bosch's equity, it said in a statement to the BSE. The German parent recently offered to buy up to 20 percent in another unit Bosch Chassis Systems , a part of its plan to delist the components maker.

Overall trend in market is still down

Shankar Sharma of First Global said that the overall trend in market is still down and the rally from 12,500-15,000 is over and done with. He feels that the sharp oil price correction is likely and India will be a big beneficiary from the same. According to him, India will benefit from fund reallocation in Emerging Markets, or EMs if crude cracks. He feels that the markets may slip to 10,000 levels this year or early next year and may then start moving up gradually over next three years. He sees the Sensex bottom within the 10,000-12,500 range. He believes that the market could double from lows but that may be short-lived.
According to him, valuations of BHEL, L&T is still expensive. He doubts further stellar returns from SBI and feels that the rally is over. RIL may drive the next leg of fall in the market and could test levels substantially below Rs 2,000 per share, he said. He doesn't see much downside for IT from current levels.
Sharma said, "Nothing has really changed. The GDP numbers have come in confirming our fears but this is just a recent set of numbers. We don't know what lies ahead. Overall the trend is down punctuated by the rallies we keep seeing. When I say bull market, I mean taking out the highs and continuing to the path of 25000 and beyond. Markets could reach 18000-19000 - that rally is still to be played out. So, markets can double from lows but that still won't be a bull market. It will coincide with crude having come off, some talk of political certainty because inflation has cooled off. That rally will propel markets close to 20,000 but I doubt if that will be so quick. Crude has to come off substantially at USD 80-85 per barrel. Our case is it will and may take 12 months to get to the USD 50 per barrel levels. Crude may rally 10-20% from its lows. When it hits USD 50 per barrel, you will see India begin to come back on its own."

GAIL To Set Up New Utilities To Increase Gas Production Capacity

State-run gas company, Gas Authority of India Ltd. (GAIL) is planning to raise the capacity of its Pata petrochemical plant. The capacity would be increased to 800,000 tons in next few years.

The pant has a capacity of 410,000 tons per annum at present. GAIL Chairman and Managing Director, U D Choubey said that the Pata plant in Uttar Pradesh would be expanded by setting up a mega petrochemical plant alongside the existing plant.

A private firm in North Asia and Central Asian states would help GAIL to increase its production capacity. It is speculated that the company intends to seek the services of Reliance Industries.

The company would pay one bonus share for two equity shares to the share holders after attaining the target of the authorized share capital of Rs 2,000 crore. The company would invest Rs 20,000 crore to build new pipelines.

The company intends to transmit300 million standard cubic meters per day of gas in coming years. The company is already working on five new trunk pipelines and two capacity augmentation projects in its plants. It is also setting up a petrochemical plant in Assam with the production capacity of 220,000 tonne per annum.

The profit of the company in Petrochemicals and LPG business is showing positive growth at present. The company has, recently, signed an agreement with Hindustan Petroleum Corporation, Oil India Ltd, Mittal Investments and France's Total to set up a petrochemical complex and crude oil refinery at Visakhapatnam.

GAIL India shareholders approve 1:2 bonus issue

Authorized capital to be doubled to Rs. 2000 crore

GAIL to enhance petrochemical capacity at its Pata plant

Company on path to achieve Rs. 50,000 crore revenue by 2011-12

Enhancing the transmission / distribution capability, Petrochemicals and City Gas / CNG activities to be focus areas for future growth

GAIL Training Institute to become Profit Centre

New Delhi, September 4, 2008. The shareholders of GAIL (India) Limited approved the issuance of 1 bonus share for every 2 equity shares held in the 24th Annual General Meeting of the Company held today in New Delhi.

The paid-up capital of the company is Rs. 845.65 crore and the Reserves and Surplus as on 31st March 2008 were approximately Rs. 12,160 crore. The Board of the Company had earlier, in June this year, recommended the issuance of bonus shares.

The shareholders also approved the payment of 100 percent dividend for the year 2007-08.

Addressing the shareholders, Dr. U. D. Choubey, Chairman and Managing Director, GAIL said that the Authorized Share Capital of the Company is proposed to be increased from Rs.1,000 crore to Rs.2,000 crore.

Dr. Choubey said that GAIL has completed the expansion of Pata plant by commissioning a new HDPE plant with additional capacity of 100,000 TPA. It is proposed to further augment the capacity to 5,00,000 TPA gradually going upto 8,00,000 TPA.. Increased production of polymers at Pata shall further add values for stakeholders, he said.

"GAIL is making special effort to nurture and develop talent pool in the gas sector through its state-of-the-art Training Institute with centres at Noida and Jaipur. GAIL intends to convert GAIL Training Institute into a profit centre as SBU", said Dr. Choubey.

He further said that cooperation, collaboration and competition have become the mantra for success in the hydrocarbon sector. "In the year that follows, we hope to unfold a number of projects in our core business areas to further strengthen the market position of your Company. Three focus areas decided by the Board and Top Management Team (TMT) have been identified as (i) enhancing the transmission / distribution capability, (ii) Petrochemicals and (iii) City Gas / CNG activities", he added.

He reiterated Company's commitment to increase revenues to Rs. 50,000 crore by 2011-12 and added that "with the existing projects and new business initiatives being taken, I can confidently state that your Company is moving steadily on its way to achieve this goal".

Five new trunk pipelines and two capacity augmentation projects of GAIL are moving forward rapidly for timely completion. This will enable the Company to continue and consolidate its dominant position in the gas transmission and marketing segment raising the Company's pipeline handling capacity to over 300 MMSCMD by 2011-12 at an estimated investment of Rs 20,000 crore.

Dr. Choubey also said that GAIL is advocating two key initiatives towards achieving energy security through natural gas. First is creation of CNG Corridors along national highways, in proximity to trunk gas pipelines across the country to supply / dispense PNG and CNG to domestic and commercial vehicles. It can enable large scale conversion of vehicles to CNG resulting in substantial savings in the petroleum import bill and save precious foreign exchange, besides providing a cleaner environment. Second is to enhance regional cooperation to foster energy trade, investment, technology transfer and skill development etc in participating nations.

GAIL (India) Limited recorded sustained performance in all key physical as well as financial parameters in the Financial Year 2007-08. According to the audited figures, the company recorded a Turnover (excluding internal consumption and net of excise duty) of Rs. 18,008 crore in the year 2007-08. The Profit After Tax during the year 2007-08 was Rs. 2,601 crore. The Board of Directors has recommended payment of total dividend at the rate of 100 percent on the paid-up share capital of the Company for FY 2007-08.

GAIL is one of the leading public enterprises with a consistently excellent financial track record. Turnover during the last ten years has shown a compounded annual growth rate of 13 percent.