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Saturday, October 18, 2008
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COURTS/LEGAL ISSUES: Subsidies: Revenue or capital in nature?
The issue of taxing subsidies has been engaging the attention of courts for the past two decades. Subsidy is a grant by the government to the promoters of any enterprise in which the government desires to participate, or which is considered ...

OUTLOOK: Essar Oil steps up revival of retail outlets
Mumbai, Oct 17 Fuelled by the recent cooling of crude oil prices, the Ruias-owned Essar Oil has stepped up efforts to re-activate its network of retail outlets across ...

OVERSEAS INVESTMENTS: ONGC plans to increase acquisition programme
Having a reserve of $5 billion cash and a debt-free balance sheet, ONGC is planning to step up its acquisition initiative to take full advantage of the global liquidity crisis, the reduction in valuation of oil equity due to fall in crude ...

MERGERS & ACQUISITIONS: Imperial deal will not be affected by dip in crude prices, says ONGC chief
New Delhi, Oct. 17 The recent softening of global crude oil prices is unlikely to affect public sector exploration and production major ONGC’s plans to acquire London Stock Exchange-listed Imperial Energy ...

OUTLOOK: JCB to make India equipment export hub
Hyderabad, Oct. 17 Construction equipment manufacturer JCB is in the process of stepping up exports from India while making it a regional hub for spares ...

CORPORATE DISPUTES: Bombay HC directs Centre to file affidavit in RIL-RNRL gas case
Mumbai, Oct. 17 The division bench of the Bombay High Court on Friday asked the Union Government to file an affidavit explaining its stand on whether its approval was necessary for the price of gas to be produced by Reliance Industries Ltd ...

ALLIANCES & JOINT VENTURES: Cera Sanitaryware ties up with Italian co
Ahmedabad, Oct. 17 Bathroom solutions provider Cera Sanitaryware Ltd has announced a tie-up with Italy’s tile maker Rondine Group for marketing the latter’s premium designer products in ...

BUYBACK: R Systems International buyback to open on Oct 29
New Delhi, Oct. 17 R Systems International on Friday announced that its buyback offer would commence on October 29. It had earlier stated that the buyback offer would involve 5.33 lakh-13.06 lakh shares from the open market, at up to Rs 150 ...

NEW PROJECTS: Bheema Cements plans Rs 567 cr investment to expand capacity
Hyderabad, Oct. 17 Bheema Cements Ltd (formerly Ckoramaandel Cements) is planning to invest Rs 567 crore in setting up a new manufacturing line of 15 lakh tonnes capacity at its plant in Ramapuram of Nalgonda district in ...

NEW BUSINESS: Magna unit gets orders from Hyundai, Japan co
Recently in Toronto Magna Powertrain, part of the $26 billion Magna International based in Canada, has received an order from Hyundai Motor and a Japanese passenger car manufacturer in India to supply water pumps and other powertrain ...





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Markets (Oct 17)
Nifty (at close)3074.35(-194.95)
US Dollar (Buy/Sell)48.88/90
Brent crude (a bbl) Rs3,412
Gold (a gram) Rs1,224
Silver (a kg) Rs17,660

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