Financial Daily from THE HINDU group of publications
Thursday, November 24, 2005
Markets (November 24 - 15.30 IST)
BSE Sensex8732.12(+93.78)
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US Dollar (Buy/Sell)45.7050/45.7150


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CORPORATE

ANNOUNCEMENTS


NHAI order for Madhucon
HYDERABAD: Madhucon Projects Ltd has announced that the NHAI has awarded a Rs 388-crore road project on the East-West Corridor in Bihar. Under the project, the single-lane carriageway of NH-57 will be developed into a four-lane stretch. ... More

Guj Fluorochem's arm mulls IPO
GUJARAT Fluorochemicals Ltd has informed the BSE that its subsidiary, Inox Leisure Ltd, is considering an initial public offer of 1.65 crore equity shares of Rs 10 each consisting of fresh issue of 1.2 crore shares and an offer for sale of 0.45 ... More

Kernex Microsystems IPO opens on Nov 28
THE Hyderabad-based Kernex Microsystems (India) Ltd is entering the capital market on November 28 to raise Rs 99 crore. The proceeds of the issue will finance the setting up of a manufacturing base for anti-collision devices (ACDs), auto driving ... More

OVERSEAS BORROWINGS


Patni lowers net income guidance
PATNI Computer Systems Ltd, a software services company, said it is launching an initial public offering of 6.87 million American Depository Shares (ADS) and has filed a registration statement with the Securities and Exchange Commission ... More

COURTS/LEGAL ISSUES


US court upholds bar against Ranbaxy blood pressure drug
IN what could be a setback of sorts to Ranbaxy Laboratories Ltd, the US Court of Appeals for Federal Circuit (CAFC), today upheld an earlier injunction granted by a New Jersey District Court barring sale of the generic version of Pfizer's blood ... More

CREDIT RATING


S&P upgrades Reliance Ind currency ratings to `BBB'
STANDARD & Poor's Ratings Services in Singapore said on Wednesday that it had raised long-term foreign and local currency ratings on Reliance Industries Ltd to `BBB' from `BB+'. The outlook on RIL, the rating agency said, is stable. According .. More

MERGERS & ACQUISITIONS


Ruia group may buy Jumbo's stake in Dunlop, Falcon in block deal
THE Kolkata-based Ruia group is believed to have worked out a block deal to acquire the Dubai-based Jumbo Group's controlling interest in the three tyre companies, namely, Dunlop India, Falcon Tyre and the latter's trading arm - India Tyres ... More

Kanishk Steel buys Italian plant, to relocate unit in TN
KANISHK Steel Industries Ltd has purchased an 8-year-old 1.5-lakh tonnes steel re-rolling plant from Lamifer of Italy. The company plans to relocate it to India and set it up at Mayiladuthurai in Tamil Nadu, its Chairman and Managing Director, ... More

NEW PROJECTS


OSI Systems plans new facility near Hyderabad
OSI Systems India, part of the Nasdaq-listed OSI Systems Inc, plans to set up a new development-cum-manufacturing facility near Hyderabad for security scanning systems and laser sub-systems for defence simulation applications. The US-based OSI ... More

ALLIANCES & JOINT VENTURES


Carborundum enters bio-ceramics, ties up with S. African firm — To market Cerdak's wound treatment devices in India
CARBORUNDUM Universal Ltd will market wound treatment devices manufactured by South African company Cerdak. This marks the Chennai-based company's entry into bio-ceramics. Cerdak holds global patents for the ceramic products that it invented ... More

OUTLOOK


Tata Steel-BlueScope venture eyes Rs 1,000-cr turnover
The joint venture would cater to the SAARC region; a BlueScope unit in Sri Lanka was also expected to move into its fold shortly. More

ESPN keen on ad support for hockey telecast
ESPN Software is hoping to get strong advertising support for its Premier Hockey League (PHL). The channel is planning to make it more viewer-friendly by introducing new concepts such as a third umpire, mikes for on-field referees and improving ... More

PEOPLE


M.S. Srinivasan is new Govt nominee on ONGC board
SPECIAL Secretary in the Ministry of Petroleum and Natural Gas, Mr M.S. Srinivasan, has been appointed on the board of Oil and Natural Gas Corporation (ONGC). However, his appointment would not increase the number of Government directors on the ... More
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Top Stories
IRDA favours FDI at 49 pc


India, Lanka seek accord on pesticide residue in tea — Issue to figure at FAO meet in Rome next month

Poultry exporters expanding processing capacities to enter new markets

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Hewitt study forecasts fatter pay packets for Indian employees

Tata Steel-BlueScope venture eyes Rs 1,000-cr turnover

In Focus

FDI in retail sector
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In Depth

Gender Justice
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Looking back
Nov. 13-Nov. 19
IOC seeks interest on oil pool account arrears

Cipla MD favours compulsory licensing sans monopoly

Tata Motors to roll out Novus HCV range — Collaboration with Tata Daewoo of South Korea

McDowell to raise funds for debt clearance after merger

Kingfisher wants to do own due diligence of Air Sahara — `Valuation is too high'

Volcker report: Reliance says it paid no surcharge for Iraqi crude


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