Financial Daily from THE HINDU group of publications
Friday, May 19, 2006
Markets (May 18)
BSE Sensex11391.43(-826.38)
S&P CNX Nifty3338.90)(-246.20)
US Dollar (Buy/Sell)45.47 (-0.05)


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CORPORATE

ANNOUNCEMENTS


Jain Granites bags orders worth Rs 9.65 cr
Jain Granites and Projects India Ltd, a Chennai-based granites and marbles trader and exporter, has projected a turnover of Rs 20 crore in the coming fiscal against the Rs 3.93 crore posted in 2005-06, according to Mr R. Sunil Bafna, Executive ... More

PREFERENTIAL ALLOTMENTS


Pitti Laminations plans pref offer
The board of directors of Pitti Laminations Ltd (PLL) at its meeting on Thursday proposed to issue on preferential basis 15-lakh equity shares at Rs 120 per share (including premium of Rs 110 per share) to non-promoters and ... More

OPEN OFFERS


Bajaj Auto Finance plans rights offer
Bajaj Auto Finance Ltd has informed BSE that its board has proposed a rights offer to shareholders. The rights offer is in two parts — equity shares in the ratio of 6:10 and non-convertible debentures in the ratio of 1:4 ... More

OVERSEAS BORROWINGS


ORG Informatics eyes acquisitions
ORG Informatics is looking to acquire or pick up minority equity stakes in companies that can offer value-added services in the mobile applications space or services in IT solutions arena, a top official said today. "The company had recently ... More

RESTRUCTURING


Jindal Steel to revamp foreign loan portfolio
Sponge iron maker Jindal Steel & Power Ltd (JSPL) is restructuring its foreign loan portfolio by refinancing its external commercial borrowings (ECB) of $75 million made in 2004. The company is currently paying an effective 7.1 per cent annual .. More

MERGERS & ACQUISITIONS


Govt approves merger of MEL with SAIL
Paswan to make formal announcement soon More

Strides acquires Warsaw-based sterile unit
Strides Arcolab has announced that its Polish subsidiary has acquired a Warsaw-based sterile manufacturing unit formerly owned by ICN Valeant, a mid-sized US speciality pharma company. The transaction amount was not disclosed. The ... More

NEW PROJECTS


Tatas pick Bengal for Rs 1-lakh car plant
Project cost pegged at Rs 1,000 cr; State begins land acquisition More

AP CM to inaugurate mini steel plant
The Chief Minister, Dr. Y.S. Rajasekhara Reddy, will inaugurate the Rs 187-crore integrated mini steel plant set up by Maa Maha Maya Industries Private Ltd at Relli Gouramapeta village in Lakkavarapukota mandal in the district on ... More

Forward Group to expand capacity; plans Chennai unit
JVs with Italian companies for shoe components also planned More

HIL commissions asbestos plant in UP
Hyderabad Industries Ltd (HIL) has commissioned a new asbestos manufacturing plant in Satharia in Uttar Pradesh. Set up at a cost of Rs 30 crore, the plant would incorporate the company's production technology and ... More

Nepal's CG Foods plans new unit in Uttaranchal
Bhutia to promote Wai Wai noodles More

HPCL revises cost of Vizag project
HPCL revises the cost of its ongoing project for production of clean fuel and de-bottlenecking at Vizag refinery by 30 per cent from Rs 1,650 crore to approximately Rs 2,150 crore. Post implementation the capacity of the refinery ... More

ALLIANCES & JOINT VENTURES


Ranbaxy in pact with Eurodrug for asthma drug
Ranbaxy Laboratories Ltd has said it had entered into an in-licensing agreement with Netherlands-based Eurodrug Laboratories for introducing the asthma product `Doxophylline' in India. Doxophylline, a Xanthine bronchodilator developed in ... More

Elder Pharma ties up with Swedish co
The Rs 378-crore Elder Pharmaceuticals Ltd has entered into an in-licensing agreement with Sterisol AB of Sweden to make and market its disinfectant products in India. Sterisol, which manufactures products that control infection ... More

SOCIETY & DEVELOPMENT


Spanners at work
Young women train to become two-wheeler mechanics in a unique venture in Chennai. More

OUTLOOK


Graphite India to firm up investment plans in July
Exploring possibility of overseas buys More

Honda Siel's capacity expansion plan
Honda Siel Cars India (HSCI) will double its production capacity from the current 50,000 units to 100,000 units a year by the end of 2007, ahead of the original target of 2010. Announcing Honda's global plans ... More

IA hopeful of over Rs 100-cr net profit
Looking to dry-lease wide body aircraft More


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May. 7-May. 13
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