The Hindu Business Line : Thursday, January 01, 2009

CORPORATE

CREDIT RATING: S&P revises Reliance outlook to negative
Mumbai Dec. 31 Global rating agency Standard & Poor’s on Wednesday revised its rating outlook on Reliance Industries Ltd (RIL), from stable to negative, reflecting the company’s increased debt and pressure ...

NEW PROJECTS: Singur episode dents State’s image: Somnath
‘Progress of Bengal hampered by agitation over land acquisitions’. Kolkata, Dec. 31 There has been a severe setback to the image of West Bengal post Singur, the Lok Sabha Speaker, Mr Somnath Chatterjee, said here ...

CREDIT RATING: S&P lowers rating on IOC
Mumbai Dec. 31 Standard & Poor’s has lowered its corporate credit rating on India’s largest petroleum company, Indian Oil Corporation, on weaker liquidity and lack of timely support from the government. The outlook is, ...

SECURITY: Corporate houses seek CISF protection
New Delhi, Dec. 31 Leading corporate houses like the Tatas, the Oberoi and Infosys have approached the Union Home Ministry for Central Industrial Security Force (CISF) cover in the wake of the Mumbai terror ...

ANNOUNCEMENTS: Maruti to disclose fuel efficiency of its models
New Delhi, Dec. 31 Maruti Suzuki on Wednesday announced it would disclose fuel economy of its models at its dealerships across the country with immediate ...

OUTLOOK: Lafarge says long-term prospects good
Chennai, Dec. 31 Lafarge India Pvt Ltd is betting on public infrastructure development to drive its Ready-Mix Concrete (RMC) business in the coming years. Despite the present slowdown, the company is confident on India’s ...

OUTLOOK: Shell plans to bring spot LNG cargo to Hazira in Jan
After a gap of nearly three months, Shell is planning to bring a spot LNG cargo at its Hazira (Gujarat) terminal in January, according to ...

TRENDS: Power supply woes: Cos spend more time reworking schedules
Coimbatore, Dec. 31 Managements are today spending enormous time revising production schedules to keep pace with the frequent modifications and announcements with regard to supply of ...

MERGERS & ACQUISITIONS: ONGC snaps up Imperial Energy for $ 1.9 b
New Delhi, Dec. 31 Oil and Natural Gas Corporation (ONGC) has taken control of Imperial Energy Plc for £1.3 billion ($1.9 billion) after 96.8 per cent of the London-listed firm’s shareholders accepted the takeover offer made by ...

PERFORMANCE: Skyline delivers 22 residential projects in 2008
Kochi, Dec. 31 The Kochi-based Skyline Builders, one of the leading home builders in Kerala, has set a record by delivering 22 residential projects in the State in ...

CORPORATE DISPUTES: Bajajs to approach CLB to seal deal
Pune, Dec. 31 The next formality in the settlement of the Bajaj family feud is obtaining the seal of approval on the transfer of Bajaj Hindusthan shares to Shishir Bajaj by Mr Rahul Bajaj from the Company Law Board (CLB) and the Bombay ...

REGULATORY BODIES & RULINGS: Aurobindo gets FDA approval for new drug
Hyderabad, Dec. 31 Aurobindo Pharma has got final approval for two of its Abbreviated New Drug Applications (ANDAs) for Stavudine Capsules and Stavudine for oral solution from the US Food & Drug ...

RESTRUCTURING: Dalmia to amalgamate subsidiary
Dalmia Cement (Bharat) Ltd has informed the exchange that the High Court of Madras has sanctioned the amalgamation of Eswar Cements, a subsidiary, with itself. The court cleared the amalgamation through an order on December 8, 2008. According to ...

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

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Markets (Dec 31)

Nifty (at close)	2959.15(-20.35)
US Dollar (Buy/Sell)	48.70/72
Brent crude (a bbl) Rs	1,839
Gold (a gram) Rs	1,223
Silver (a kg) Rs	18,680

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