CORPORATE
ANNOUNCEMENTS
Petronet plans to double capacity at Dahej terminal
RasGas, the LNG supplier to Petronet, has been sounded out for the additional demand of one million tonnes during 2004-05.
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Aban Loyd to buy rig from French co Pride
ABAN Loyd Chiles Offshore Ltd plans to buy a 300-feet jack up rig from Pride Foramer SAS of France. The rig is now working under a contract with the Oil and Natural Gas Corporation in Mumbai High, according to information provided by Aban Loyd ...
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Dredging Corpn appoints PwC for scouting foreign partners
DREDGING Corporation of India Ltd (DCI) has appointed the global management consultancy services major - PricewaterhouseCoopers (PwC) - for the purpose of scouting strategic foreign partners. Addressing newspersons here on Monday, the DCI ...
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Aurobindo Pharma unit gets UK regulator nod
THE Medicines and Healthcare Products Regulatory Agency of the UK has recommended Aurobindo Pharma Ltd's (APL) Unit 3 facility as a site for manufacturing formulations for the UK market. APL can now foray into regulated markets, starting with ...
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Emaar Properties to build luxury hotels worldwide
DUBAI'S EMAAR Properties has signed a letter of intent with Italian fashion house Giorgio Armani Company to build a chain of luxury hotels worldwide, the official Emirates News Agency, WAM, reported. According to a statement by Emaar, the plan ...
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OVERSEAS BORROWINGS
Companies allowed to raise ECBs for overseas investment
IN an effort to facilitate Indian corporates in becoming global players, the Reserve Bank of India (RBI) today permitted eligible resident corporates to raise external commercial borrowings (ECBs) for overseas direct investment in joint ventures ...
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MERGERS & ACQUISITIONS
`Reliance, IPCL merger likely only after next June'
THE possibility of a merger between Reliance Industries Ltd and Indian Petrochemicals Corporation Ltd (IPCL) can be considered only after June 4, 2005. Stating this, Mr J.B. Kamat, Senior Executive Vice-President of IPCL, said that as per the ...
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ONGC Videsh close to buying stake in Angola field
ONGC's overseas arm, ONGC Videsh Ltd, is close to buying multinational oil major Royal Dutch Shell's 50 per cent stake in an oil field in Angola. The company is among the three shortlisted for buying the stake in the Greater Plutonio project ...
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Foskor acquires 5% stake in Godavari Fert
FOLLOWING the approval from the Foreign Investment Promotion Board and the Reserve Bank of India, the African fertiliser major — Foskor Ltd — has acquired 16,00,000 equity shares constituting five per cent equity of Godavari ...
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IPOS
PTC issue to open on March 1
POWER Trading Corporation of India Ltd will open its initial public offering on March 1, 2004. The price band for the offer has been fixed at Rs 14-16 per equity share of value Rs 10 per share. The company, which generated revenues of Rs 998 ...
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RIGHTS ISSUE
Mukand plans right issue for Rs 51 crore
MUKAND Ltd is entering the capital market with a rights issue of shares in the ratio of nine shares for every four held to raise Rs 50.64 crore. The offer price is Rs 10 per share while the current market price is around Rs 18-19. The proceeds ...
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STANDARDS & BENCHMARKS
Ranbaxy gets tentative nod from USFDA for Modafinil
RANBAXY Laboratories Ltd has received a tentative approval from the US Food and Drug Administration, (USFDA) Office of Generic Drugs, to manufacture and market Modafinil tablets in 100 mg and 200 mg units. Modafinil helps improve wakefulness in ...
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SICK UNITS
TRL revival plan may see light next month
AT last, the prospects of the revival of ailing Travancore Rayons Ltd (TRL) at nearby Perumbavoor have brightened with the Government and the promoters have sorted out all the thorny issues and arrived at a mutually acceptable formula to re-open ...
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OUTLOOK
Reliance may lose Rs 600 cr on lower oil PSUs offtake
THE urgency for Reliance to set up its own retail network to dispense petrol and diesel is not far to see. The public sector oil retailers' recent indication towards a lower purchase volume from Reliance Industries Ltd's 33 million tonne refinery ...
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Honda Siel plans to increase market share
HONDA Siel Cars India (HSCI) Ltd is planning to increase its market share to 22 per cent in the premium car segment, according to Mr Neeraj Garg, Head-Marketing, HSCI Ltd. He told presspersons here that the company was planning to sell 18,000 ...
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Toyota to increase output, expand dealer network
EYEING 20 per cent growth in overall sales this year, Toyota-Kirloskar Motor Company, a joint venture between Toyota Motor of Japan and the Kirloskar group, has drawn up plans to expand its manufacturing facility located in Bidadi near Bangalore ...
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Marico focusing on margins than volumes
SHAKING off the commodity influences on its business is not easy for Marico Industries, maker of Parachute coconut oil and Saffola and Sweekar cooking oils. Vegetable oil prices are notoriously volatile and its consumers very price-sensitive. But ...
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