The Hindu Business Line : Wednesday, December 28, 2005

GAIL places Rs 485-cr orders for gas pipelines
GAIL (India) Ltd on Tuesday said that it has placed orders worth Rs 485 crore for its Dahej-Uran and Vijaipur-Kota pipeline projects. In a statement issued here, the company said it has placed orders for supply of pipes for the Dahej-Uran ... More

L&T bags Rs 411-cr Gangavaram project
The distinctiveness of this project is that it is a greenfield port, said Mr K.V. Rangaswami, Member of the Board as well as Senior Vice-President (Construction), L&T. Additionally, this is for the first time in India that an order for a ... More

INSIGHT

Executive negligence: Consequences and covers
CORPORATE governance is the hot-topic these days, thanks to growing stakeholder pressure, rising regulatory scrutiny and supervision, increasing customer awareness and mounting judicial activism on the role of directors and officers of an ... More

COURTS/LEGAL ISSUES

Herbertsons open offer on January 16 as per SC order
THE Kishore Chhabria Group and the UB Group have fixed January 16 next year as the opening date for the open offer of Rs 220 per share for Herbertsons. The bid closes two days later on January 18. A notice to the Bombay Stock Exchange on ... More

RESTRUCTURING

Reliance demerger catches fund managers, traders on wrong foot
THE demerger of Reliance Industries (RIL) has created confusion among fund managers, FIIs and traders who follow the Sensex and the Nifty index. The confusion among fund managersis: how to balance their portfolio following the demerger and ... More

MERGERS & ACQUISITIONS

GHCL acquires Dan River for $17.5 m
Dan River has an annual turnover of about $250 million and caters to mega retailers such as JC Penny, Wal-Mart, Linen & Things and Bed, Bath and Beyond. More

CORPORATE GOVERNANCE

Finance Ministry does not favour extending Clause 49 deadline — Wants to stick by SEBI's stance
WITH a few days to go before the deadline for compliance with the revised Clause 49 of the Listing Agreement expires, the Finance Ministry has come out in support of the capital market regulator's current stance that there should be no extension ... More

NEW PROJECTS

Maxwell Ind plans to raise Rs 275 cr thru equity, bond issue
MAXWELL Industries Ltd plans to raise around Rs 275 crore through domestic or international bond, or an equity issue. "These resources raised by the company will allow it to pursue its expansion plans which include doubling the capacity of ... More

Mitsubishi Chem to set up 2nd unit at Haldia
MITSUBISHI Chemicals of Japan, which already has a significant presence at Haldia in West Bengal, is setting up its second unit at Haldia. While addressing members of The Bengal Chamber of Commerce & Industry (BCCI) here on Tuesday, at BCCI's ... More

PSL to expand Vizag pipe mills capacity by 1.5 lakh tonnes
The company is raising $5 million or around Rs 25 crore through allotment of 9 lakh shares of Rs 10 each at Rs 252 per share to IFC to fund the expansion plan. More

ALLIANCES & JOINT VENTURES

Thermax in pact with Heavy Water Board for ammonia injection tech
THE Pune-based Thermax Ltd has signed a licensing agreement with the Heavy Water Board (HWB) of Department of Atomic Energy for the board's proprietary ammonia injection technology to control particulate emission in the flue gases from thermal ... More

Veejay Lakshmi Engg to go it alone as pact with Savio ends
Veejay Lakshmi is now planning to organise road shows and seminars to give thrust to is marketing activities. More

SICK UNITS

JK Cotton Spinning revival on cards
"We are hoping to generate about Rs 125-150 crore. These funds would be utilised to clear all the debts and make fresh investments in the company too." More

OUTLOOK

Kesoram may review chemical biz hive-off — `We would never be a distress seller'
THE Rs 1,800-crore Kesoram Industries Ltd, the flagship company of the B.K. Birla Group, may reconsider its earlier decision to hive off its heavy chemicals if it fails to get a suitable buyer within the next three months. According to a senior ... More

NMDC may invest in Krishnapatnam rail road project
NATIONAL Mineral Development Corporation (NMDC) may be one of the strategic investors in Krishnapatnam Rail Road Corporation Ltd (KRRCL). This is subject to clearance from NMDC's parent Ministry of Steel and Mines, said sources close to the ... More

Fall in crude prices, subsidy bill likely to hit ONGC profits
ONGC is finding it difficult to maintain profit growth in the third quarter of 2005-06, courtesy a sharp decline in profitability following a fall in crude prices and production coupled with a heavy subsidy bill. The company recorded a net ... More

As Nigerian acquisition plans fizzle out — ONGC not to offload equity stake in IOC, GAIL now
AS an immediate fallout of the Centre disallowing ONGC to acquire assets in Nigeria, the exploration and production major has dropped plans to sell part of its equity stake in IOC and GAIL (India) during this year. The corporation holds 10 per ... More

HM to roll out Cedia, Montero
IN a bid to boost its market share in the growing sedan and sports utility vehicles segments, Hindustan Motors plans to roll out the Mitsubishi Lancer Cedia and Montero in 2006. The Lancer Cedia is all set for launch towards the end of January ... More

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