The Hindu Business Line : Thursday, July 09, 2009

CORPORATE

OVERSEAS INVESTMENTS: Toshiba to provide EPC services for power projects
Chennai, July 8 Toshiba Corporation, the Japanese power and electronics major, today announced that it would set up a company in India to provide engineering, procurement and construction services for power ...

TAXATION: Corporates hail removal of FBT
Abolition of Fringe Benefit Tax (FBT) has been welcomed by most in corporate India, which was widely perceived as more of an irritant for ...

OUTLOOK: Marico to float IPO in Bangladesh
With the intentions of growing its international operations, Marico Bangladesh has decided to raise Rs 9 crore (Taka 135 million) through an IPO, thereby diluting 5 per cent stake in its subsidiary. According to Mr Milind Sarwate, Chief HR ...

PRIVATE PLACEMENT: Morgan Stanley ups stake in Unitech
The stake of Morgan Stanley entities in Unitech has increased to 5.53 per cent, after it acquired 4.11 per cent additional stake. Unitech had concluded a Qualified Institutional Placement (QIP) on June 26 to raise nearly $575 million by ...

NEW BUSINESS: PNC consortium bags NHAI project
Infrastructure development company PNC Infratech, in consortium with SREI Infrastructure and Dubai-based Galfar, has emerged as the lowest bidder for a Rs 1,141-crore road tender floated on a build-operate-and-transfer basis by the ...

NEW BUSINESS: Lanco to build FDDI facility
Lanco Infratech Ltd has informed BSE that the company has received Letter of Intent (LoI) from Footwear Design & Development Institute (FDDI), Union Ministry of Commerce and Industry, for the construction and development of FDDI facility at ...

OUTLOOK: BEL opts out of retail set-top box biz
Focus is on high-end institutional users. Bangalore, July 8 Bharat Electronics Ltd has tuned out of retail consumer sale of set top boxes (STBs). The focus is now on developing high-end set-tops for purposeful institutional buyers such as ISRO ...

ACCOUNTANCY: Dilution of excise Act opposed
...

OUTLOOK: Elder Pharma plans rural thrust
New Delhi, July 8 With the Government earmarking more than Rs 14,000 crore for the National Rural Health Mission, pharma companies are beefing up their rural marketing plans in a bid to tap into the ...

PRIVATE PLACEMENT: GVK Power raises Rs 717 crore
Hyderabad, July 8 GVK Power & Infrastructure Ltd (GVKPIL) has raised Rs 717 crore through placements of shares with qualified institutional buyers ...

PRIVATE PLACEMENT: Sobha Developers to raise Rs 250 cr
Bangalore, July 8 Sobha Developers hopes to raise up to Rs 250 crore during the course of this year through private placements or sale of ...

EVENTS: Anil Ambani meets Fertiliser, Petro Secys
Mr Anil Ambani met the Fertiliser and Petroleum Secretaries on Wednesday. The meeting gathers significance in the back drop of the ongoing dispute between Mr Anil Ambani’s Reliance Natural Resources Ltd (RNRL) with the elder brother ...

OUTLOOK: Ruia sees higher income from fabrication orders
Mr P.K. Ruia, Chairman of Ruia group, who turned around Jessop & Co, is expecting a big jump in income from structural and fabrication orders on turnkey basis. Supplies to the Railways wagon and coaches, however, will continue to be ...

AWARDS & HONOURS: Coimbatore cos sweep INTEC awards
...

Columnists: • C Gopinath • Harish Bijoor • Ramanujam Sridhar • Radhika Chada • K Srikrishna

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Markets (July 08)

Nifty (at close)	4,078.90 (-123.25)
US Dollar (Buy/Sell)	48.88/89
Brent crude (a bbl) Rs	3,000
Gold (a gram) Rs	1,362
Silver (a kg) Rs	22,665

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