The Hindu Business Line : Tuesday, May 30, 2006

ANNOUNCEMENTS
Sajjan Jindal keen to invest in Bengal
Mr Sajjan Jindal, Vice-Chairman of the Sajjan Jindal Group, today met the West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, here and expressed his desire to invest in power generation, road infrastructure and allied steels sectors in the ... More

IVRCL allots shares to FCCB holders
IVRCL Infrastructures & Projects Ltd has allotted 18,80,345 shares at a price of Rs 234.03 per share of Rs 2 each in two tranches to the holders of foreign currency convertible bonds (FCCBs), which were issued in December last .. More

GM India to launch `mini car' next year
To be positioned between Wagon R and Santro More

PRIVATE PLACEMENT
Videocon to raise funds through QIP route
The recent guidelines issued by SEBI for Qualified Institutional Placement (QIP) has attracted another company, Videocon Industries Ltd (VIL), to raise funds from the domestic market through this route. The company is planning to go in for ... More

CORPORATE DISPUTES
Star not to give DTH signals till July
Star India has given an undertaking to the Telecom Disputes Settlement Appellate Tribunal (TDSAT), that it will not give signals to any other DTH platform till July 3, 2006. The move comes after the Zee Group-promoted ASC Enterprises filed a ... More

CORPORATE BONDS
Panyam Cements debenture issue
The board of directors of Panyam Cements & Mineral Industries Ltd has approved a resolution to issue 2,08,334 secured rupee denominated optionally convertible debentures of Rs 1,200 each carrying a coupon rate of 10 per cent ... More

MERGERS & ACQUISITIONS
Tractorul setback not major: M&M
Sale suspended over debt write-off More

Provogue eyes acquisitions
Planning a new retail format under `Mega Studio' brand More

UB Group not to outbid competitor for Taittinger
The UB Group has walked out of its bid for Champagne Taittinger claiming that it was not interested in outbidding one of its competitor's raised offer for the business. "It does not make business sense to offer more for Taittinger," an official ... More

Soros picks up stake in Amtek Auto
Soros Fund Management, a fund promoted by the billionaire investor, Mr George Soros, has picked up about 9.8 lakh shares constituting 0.815 per cent stake in automotive parts maker Amtek Auto Ltd. The fund bought the shares ... More

TAC to merge with SPIC
Tuticorin Alkali Chemicals & Fertilisers Ltd has informed the BSE that it intends to merge itself with its parent company, Southern Petrochemical Industries Corporation. A meeting of the Board of Directors of the company will be held on May 30, . More

NEW PROJECTS
L&T plans to spend big on infrastructure projects
The construction and infrastructure engineering major Larsen & Toubro will be able to undertake infrastructure projects involving investments anywhere between Rs 5,000-Rs 10,000 crore under the build-operate-own-transfer (BOOT) route over the ... More

Sundram Fasteners plans new units
Sundram Fasteners intends to put up manufacturing facilities in Uttaranchal and in Mahindra Industrial Park, near Chennai. The company told the stock exchanges today that the details of the projects are "being worked out". The ... More

ALLIANCES & JOINT VENTURES
Shree Renuka in pact with Brazil co
Shree Renuka Sugars Ltd has entered into an MoU with Copersucar of Brazil for supply of high-quality raw sugar and allied technical support for the company's 2000 TPD port-based sugar refinery coming up at Haldia. Copersucar is Brazil's largest ... More

INTERVIEW
Fuel price hike of Rs 2 inadequate: BPCL
The Executive Director of Finance, Bharat Petroleum Corporation Ltd, Mr S.K. Joshi, feels that the likely fuel price hike of Rs 2/litre is inadequate. He says that the under-recoveries for petrol stand at Rs 6-7 per litre. Mr Joshi further adds ... More

VENTURE CAPITAL
SIDBI Venture picks up stake in Indo Shell Mould
Invests Rs 15.72 crore in auto component company More

BONUS ANNOUNCEMENTS
NCC board recommends 1:1 bonus
The board of directors of Nagarjuna Construction Company Ltd (NCC) has recommended issue of bonus shares to its shareholders including the GDR holders in the ratio of one bonus share of Rs 2 each for every existing share of Rs 2 ... More

OUTLOOK
Branded foods to drive HLL growth
The challenge is to build scale, says Manwani More

PEOPLE
9 new directors on BEL board
Bharat Electronics Ltd (BEL) has told the BSE that its board has nine new independent directors with effect from May 23. Five of them are from academia. The board includes seven BEL officials and two Government nominees. The new ... More

Punjab Tractors MD resigns
Eighteen days after the Burman family nominee on the board of Punjab Tractors Ltd (PTL), Mr P.D. Narang, was appointed as non-executive Chairman of the company, there has been yet another top level change at PTL. The company's Vice-Chairman ... More

New Company Secretary for Pricol
Mr T.G.Thamizhanban has been appointed as Company Secretary of Pricol following the resignation of Mr V. Srinivasan from the post. In a notification to the NSE, Pricol has said the board has accepted the resignation of Mr ... More

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