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Wednesday, October 29, 2008
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MERGERS & ACQUISITIONS: SEBI relaxes norms for promoters to up stake
Buying should not be through bulk/block deals. Mumbai, Oct. 29 Promoters can increase their stake up to 75 per cent through creeping acquisition, instead of 55 per cent ...

OVERSEAS INVESTMENTS: Petronet looks to expand scope in Papua New Guinea
Gets nod for making investments in exploration, production biz. New Delhi, Oct. 28 Petronet LNG Ltd (PLL), which is into the business of importing liquefied natural gas (LNG) and setting up LNG terminals in the country, is all set to expand its ...

RIGHTS ISSUE: Suzlon suspends rights issue plans
Mumbai, Oct. 28 Suzlon Energy Ltd has suspended its plans for a rights issue to raise Rs 1,800 crore, citing the current market ...

OUTLOOK: Apache’s Tada plant has a rough track to tread
Company committed to achieving targets. Chennai, Oct. 28 A metre-wide trench cuts between the multilane National Highway 5 and a four-lane road leading to the Apache Footwear India Ltd SEZ in Tada, Andhra Pradesh. Visitors have to take a detour ...

OUTLOOK: Falling navigable depth at Haldia may hit IOC refining operations
Kolkata, Oct. 28 The current continued reduction in navigable depth of Haldia Port may affect refining operations of Indian Oil Corporation at Haldia, Barauni (Bihar) and Bongaigaon (Assam) . Being the main source of refined products in ...

OUTLOOK: Loan restructuring holds hope for Ruia Group as rupee falls
Crunch halts plans to hike operations at Dunlop India. Kolkata, Oct. 28 A timely restructuring of $125-million foreign currency loan (over Rs 600 crore at current exchange rate) may help Mr P.K. Ruia-led Ruia Group from the impact of ...

OUTLOOK: Skoda lines up 4 models for launch next year
Mumbai, Oct 28 Fabia Combi, Roomster and successors of Superb and Laura — the Czech-based Skoda, which is part of Volkswagen group, is planning to launch these four new models in India in ...

OVERSEAS INVESTMENTS: ‘No proposal for hiking OVL’s investment limit now’
New Delhi, Oct. 28 While ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is seeking more powers for its board to take investment decisions and increasing the current investment limit of $75 million or Rs 300 crore (whichever ...

NEW BUSINESS: Ramky bags Assam waste management order
Assam CM to inaugurate Rs 102-cr project today. Hyderabad, Oct. 28 Ramky Enviro Engineers Ltd has been awarded Rs 102.15-crore ‘Integrated Solid Waste Management Project’ by the Guwahati Municipal Corporation (GMC), ...

NEW PROJECTS: Pennar arm to set up plant for pre-engineered steel buildings
Hyderabad, Oct. 28 Pennar Engineered Building Systems Ltd (PEBSL), a group company of Hyderabad-based Pennar Group, is setting up a plant for design, manufacture, supply and erection of pre-engineered steel building ...

OUTLOOK: Apache Footwear India: An oriental to boot
A 5-foot ‘dragon boat’ that stands majestically at the doorway is but one example of the oriental heritage of Apache Footwear India, whose Tada factory churns out 2.6 lakh pairs of sports shoes each month. The very layout of ...

ALLIANCES & JOINT VENTURES: Hero Honda, Andhra Bank tie up for bike loans
Two-wheeler maker Hero Honda Motors has entered into an agreement with Andhra Bank to offer financing support for buyers of ...

OUTLOOK: Alok Ind plans to enter work-wear area
Mumbai, Oct 28 Alok Industries, an integrated textile company, will venture into the work-wear segment, which was dominated by unorganised ...

ANNOUNCEMENTS: Reliance shuts plant for 4 weeks
...






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Markets (Oct 28)
Nifty (at close)2684.60(+160.40)
US Dollar (Buy/Sell)49.88/89
Brent crude (a bbl) Rs3,030
Gold (a gram) Rs1,128
Silver (a kg) Rs16,320

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