Financial Daily from THE HINDU group of publications
Saturday, December 10, 2005
Markets (December 09 at close)
BSE Sensex9067.28(+160.97)
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CORPORATE

MODERNISATION


SAIL board okays plan to upgrade RSP facilities
THE board of directors of SAIL, at a meeting held at Rourkela, granted in-principle approval to some important project proposals. Two of these proposals pertain to infusion of new technology and upgradation of production facilities at the ... More

ACCIDENTS


Asia needs to improve work safety standards, says expert
The safety standard lag could be due to a more conservative management style. More

ANNOUNCEMENTS


Natco launches drug for blood cancer
NATCO Pharma Ltd has announced the launch of its drug for multiple myeloma (a form of blood cancer) under the brand `Alphalan' (Melphalan) in 2 mg and 5 mg tablet forms. In a press release here on Thursday, the company said the launch of ... More

Tata Steel to unveil new brand at AEC World Expo
TATA Steel said that it would unveil a new brand at the AEC World Expo in Mumbai on December 14. "This new brand will be dedicated to those designers, architects, engineers and construction professionals who have a flair for thinking out of ... More

Merck-PATH duo to conduct clinical trials for rotavirus vaccine
MERCK & Co and international non-profit organisation PATH will work together to conduct clinical studies of the former's investigational rotavirus vaccine, Rotateq, in some developing nations. The announcement was made at the Global Alliance ... More

ONGC drills first well in Mahanadi basin
WITHIN a month-and-a-half of being awarded environmental clearance, ONGC has drilled its first well in the Mahanadi basin. The company is scheduled to carry out exploratory drilling at MN-OSN- 2002/2 and MN-DWN-98/3 offshore blocks. While the ... More

L&T wins Rs 303-cr order from RIL
LARSEN & Toubro has won an order worth Rs 303 crore from Reliance Industries for supply of critical equipment for the latter's fast track Jamnagar export refinery project. L&T will supply a range of equipment, including a fluidised catalytic More

Nestle India withdraws three products from market
NESTLE India has decided to withdraw three of its products from the market. These are Nestlé Chocostick, Nestlé Butter, and Dust Tea, which have been discontinued from the market on the grounds that "they do not add value to the Nestle India ... More

Mercator okays shares allotment to promoters
MERCATOR Lines Ltd announced that its Committee of the Board of Directors has approved allotment of 30 lakh equity shares of Re 1 each for cash at a price of Rs 56 per share (including a premium of Rs 55 per share) to the promoters. This was ... More

Bosch group to invest Rs 1,000 cr in MICO
THE Bosch Group of Germany on Friday said it was extremely bullish on India and announced plans for its Indian ventures, including Rs 1,000 crore investments into MICO (Motor Industries Company Ltd), its auto component subsidiary based in ... More

OVERSEAS BORROWINGS


Adlabs fixes FCCB conversion price
ADLABS Films Ltd has fixed the conversion price of its foreign currency convertible bonds at Rs 543.42 per share. This represents a 50 per cent premium over the weighted average price of Rs 362.28 on December 7, on the BSE. The company has ... More

ACCOUNTANCY


ICWAI clears plan to network member firms
THE council of the Institute of Cost And Works Accountants of India (ICWAI) has, in a far-reaching move, approved networking of member-firms. The ICWAI, which is following a standard set internationally in this regard, will let smaller firms ... More

ENVIRONMENT


VSP launches sewage recycling system
AN ultra filtration system-based sewage recycling system, the first of its kind in Andhra Pradesh, was inaugurated by the Chairman and Managing Director of the Visakhapatnam Steel Plant, Mr Y. Sivasagara Rao. He said the system would result in ... More

RESTRUCTURING


Bombay HC approves RIL demerger
THE Bombay High Court on Friday approved the demerger plan of Reliance Industries Ltd (RIL) and its group companies. Ms Justice Nishita Mhatre announced the verdict, setting aside a petition filed by minority shareholder Mr Kalpesh Mankad from ... More

Ion Exchange merges four regional cos
ION Exchange (India) Ltd, a water solution provider, announced the merger of its four regional associate service companies into a single entity, Ion Exchange Services Ltd. With this merger, it has become the largest service company in the ... More

MERGERS & ACQUISITIONS


Hitachi Construction doubles stake in Telcon to 40 pc — Tata Motors' stake comes down to 60 per cent
HITACHI Construction Machinery Co, a construction equipment manufacturer, has doubled its stake in Telco Construction Equipment Company (Telcon), a joint venture between Hitachi and Tata Motors, to 40 per cent. Hitachi acquired another 20 per ... More

Merlin Gerin may pick up stake in Numeric Power
MERLIN Gerin, the French technical collaborator of the Chennai-based Numeric Power Systems Ltd, might pick up equity stake in the Indian company, according to the Numeric Power Managing Director, Mr R. Chellappan. He was responding to a question ... More

NEW PROJECTS


Sumitomo group plans 3rd subsidiary in India
CONVINCED by the growth potential of the Indian power sector, the Sumitomo Group of Japan plans to increase its presence in this sector. The group plans to set up its third wholly-owned subsidiary in India. It has sought Government permission ... More

Samsung to set up $15-m handset manufacturing unit
KOREAN electronics major Samsung, on Friday, announced its plans to invest $15 million to set up a mobile handset manufacturing facility in India. The factory will be set up at Gurgaon, Haryana. This is Samsung's fourth overseas handset ... More

Orient Paper on expansion mode
IN response to the robust demand for paper and allied products such as tissues, Orient Paper and Industries Ltd (OPIL) is expanding its capacities. The GP-CK Birla-owned company would be investing Rs 50 crore over the next 18 months to add ... More

REGULATORY BODIES & RULINGS


Vanishing cos: Govt hires legal professionals
THE Minister of Company Affairs, Mr Prem Chand Gupta, on Friday informed the Lok Sabha that legal professionals are being engaged in all cases filed against the vanishing companies and their promoters and directors. These professionals are ... More

ALLIANCES & JOINT VENTURES


Ultra Movie to bring in Harvey toon characters
ULTRA Movie Channel Ltd, a movie VCD and DVD distributor, has announced a tie-up with Harvey Entertainment Company to bring popular toon characters to the Indian market. Harvey Entertainment Company has given the copyright for Casper - the ... More

OSIM-Godrej partnership
NEW DELHI: OSIM India has entered into a strategic partnership with Godrej & Boyce to showcase its range of health products across 13 Godrej Lifespace outlets. Along with this, OSIM has also introduced two new massage chairs - Noro ... More

INTERVIEW


Tatas to focus on telecom, biotech, drug discovery: Irani
THE Tata group, comprising around 30 operating companies — including 12 major ones such as Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Chemicals, VSNL and Tata Teleservices — is eyeing at growth organically ... More

DIVERSIFICATION


Talwalkars plans expansion, foray into new segments
GRADUATING from the business of health clubs, the Mumbai-based Talwalkars chain of fitness centres is extending its brand to apparel and organic food. Having floated a company called Talwalkar Fitness Industries Ltd, the health club chain is ... More

Vijayanand Roadlines to invest Rs 400 cr for expansion
TRANSPORT operator Vijayanand Roadlines plans to invest around Rs 400 crore to expand its operations while another Rs 200 crore will be invested in its newspaper business during the next two years. Vijayanand Roadlines Ltd (VRL) plans to float ... More

PERFORMANCE


Gujarat power utility makes Rs 260-cr cash profit in H1
CLAIMING that the unbundling of the Gujarat Electricity Board (GEB) has been a success, the State Energy Minister said on Friday that the utility has made a cash profit of Rs 260 crore in the first half of the current financial year. "At a time ... More
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Top Stories
Bombay HC approves RIL demerger


Sumitomo group plans 3rd subsidiary in India

Forex reserves rise $921 m

PM urges unions to respond to changing times

15 lakh t soyameal contracted for exports

IRDA plans third-party risk pool for motor insurance

Beer: No more a seasonal drink?

In Focus

Trends in IT - 2005
FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Nov. 27-Dec. 3
LMW to expand through buys

Tatas set to pick 74 pc stake in Maithon Power

Hyundai Motor India flags off first shipment to UK

Great Eastern handed over to Bharat Hotels chain

ONGC appoints consultants for due diligence of SPIC Petro

Toyota offers 1% interest on loans for Innova buyers

BG India, ONGC to operate 3 offshore deepwater blocks



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