Financial Daily from THE HINDU group of publications
Sunday, June 05, 2005
Markets (July 26)
BL 2502331.81 (+6.53)
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CORPORATE

ANNOUNCEMENTS


Premier Auto launches 2 new vehicles in Kerala
PREMIER Automobiles Ltd, which is making a comeback to the Indian automobile scene after a few years' absence, on Saturday launched a multi-purpose vehicle (MPV) and a light commercial vehicle (LPV) in the Kerala market. The maker of Premier ... More

PREFERENTIAL ALLOTMENTS


Rico to issue equity shares
NEW DELHI: Rico Auto Industries Ltd said on Saturday that it would issue 1.54 crore equity shares to institutional investors and 30 lakh convertible warrants to its promoter group. The shareholders at the extraordinary general meeting ... More

OVERSEAS BORROWINGS


Amtek FCCB issue fully subscribed
NEW DELHI: Amtek Auto Ltd on Saturday said its $150-million Foreign Currency Convertible Bonds (FCCBs) issue has been fully subscribed and may get listed on the Singapore Stock Exchange. The FCCBs issue is likely to be listed on the ... More

COURTS/LEGAL ISSUES


Revenue potential in Kinetic premises
KINETIC Motor Company Ltd was begun in 1984 as a joint venture with Honda Motor of Japan "to manufacture and market advanced scooters in India," informs www.kineticindia.com. In 1998, Kinetic acquired a major ... More

ENVIRONMENT


ONGC Tripura to seek environment clearance for Palatana project
ONGC Tripura Power Ltd will seek environmental clearance for its proposed 750-MW gas-based power plant at Palatana in Tripura this month. The company has formed a joint venture with Power Grid Corporation to set up a transmission network from ... More

IPR


Lee Pharma wins patent case against Eli Lilly
LEE Pharma (P) Ltd has claimed that it has won a patent infringement case against Eli Lilly & Company. The Rs 33-crore company is into manufacture of drugs in various therapeutic categories and claims strengths in specialisation of modified ... More

RESTRUCTURING


GTN Textiles board okays de-merger scheme
THE board of directors of GTN Textiles Ltd at a meeting here on Saturday, in pursuant to the recommendation of the Special Business Committee appointed by the company for the de-merger of its Aluva unit, has approved the scheme of ... More

FIXED DEPOSITS


Jindal Stainless: Invest
Jindal Stainless: Investments in the fixed deposit scheme of Jindal Stainless can be considered with a one-year perspective. The demand for stainless steel is expected to be robust both in the domestic market and in China over the next ... More

MERGERS & ACQUISITIONS


AP opposes proposal for merging VSP with SAIL
THE Andhra Pradesh Government has expressed opposition to the proposal of merging the Visakhapatnam Steel Plant (VSP) with Steel Authority of India Ltd (SAIL). The Chief Minister, Dr Y. S. Rajasekhara Reddy, has urged the Centre to retain ... More

OVERSEAS INVESTMENTS


$25,000 overseas investment facility finds no rush yet
THE carrot of foreign investments has been dangling for over a year now, but investing abroad is proving to be a moving target for Indian investors. Though the then Finance Minister, Mr Jaswant Singh, announced in January 2004 that foreign ... More

ALLIANCES & JOINT VENTURES


Reva, IOC to develop fuel cell-powered cars
ELECTRIC carmaker Reva on Saturday signed an agreement with Indian Oil Corporation (IOC) to develop fuel cell-powered cars. The Reva Electric Car Company Chairman, Mr Sudarshan Maini, told a news conference that both the companies would invest ... More

OUTLOOK


Motorola betting big on software delivery — Yet to decide on manufacturing base here
MOTOROLA has still not come to a conclusion on setting up manufacturing facilities in India, though there was much talk of it after Nokia's decision to do so. However, the company is betting big on software delivery out of here and also has ... More
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