Financial Daily from THE HINDU group of publications
Friday, March 03, 2006
Markets (March 2)
BSE Sensex10626.78(+61.31)
S&P CNX Nifty3150.70(+27.60)
US Dollar (Buy/Sell)44.38 (-0.02)


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CORPORATE

ANNOUNCEMENTS


Chinese co opens liaison office
First centre by a non-European textile group in India More

Hyundai cuts car prices
Hyundai Motor India today announced a price cut on all locally produced models by up to Rs 26,000 following the reduction in excise and Customs duties in the Union Budget. The price cut on Hyundai's ... More

PREFERENTIAL ALLOTMENTS


Sujana Metal, Universal offer equity to SASF
The boards of Sujana Metal Products Ltd (SMPL) and Sujana Universal Industries Ltd (SUIL) at their respective meetings held on Monday have approved resolutions on offering equity and cumulative preference shares in favour of the Stressed Assets ... More

OVERSEAS BORROWINGS


Sical to raise $125 m thru convertible bonds, GDRs
Sical Logistics Ltd (formerly South India Corporation Agencies Ltd) plans to raise about Rs 550 crore ($125 million) through a mix of foreign currency convertible bonds and global depository receipts. According to a company press release, the ... More

Matrix Labs EGM clears GDR offer
Matrix Laboratories has informed the stock exchanges that its shareholders, at the extraordinary general meeting (EGM) held on Wednesday, have considered and unanimously approved the company's proposal ... More

AUDITING


`Certified Internal Auditor' course
The Institute of Internal Auditors - India, a part of the Florida-headquartered IIA Inc, is in active dialogue with the parent body to further streamline the CIA (Certified Internal Auditor) course for Indian students. There is also a move to ... More

IPR


Roche gets product patent on Hepatitis C
Swiss-pharma company Roche has received the country's first product patent on its Hepatitis C drug Pegasys. Pegylated interferon alfa-2a or Pegasys involves a technology that reduces the frequency of injections that a patient has to take to one a ... More

MERGERS & ACQUISITIONS


Meridian Ind to merge with Precot Mills
Meridian Industries Ltd, an unlisted textile company belonging to the Coimbatore-based Precot group, will merge with the group's flagship Precot Mills Ltd. The boards of Meridian and Precot Mills, which met here, have given `in principle' ... More

HLL sells TEIL to Woodbriar Group
More

Marksans Pharma acquires Australian co
Marksans Pharma Ltd has entered into an agreement with Nova Pharmaceuticals Ltd, Australia to acquire the majority stake in Nova Pharmaceuticals Australasia PTY Ltd. The move would help Marksans Pharma leverage its manufacturing capabilities ... More

NEW PROJECTS


Bannari Amman to set up bio-diesel plant
Production likely to begin in July More

Svendgaard plans facility in Himachal
Planning IPO to fund project More

OUTLOOK


Haldia Petro uncertain of Budget impact on finances
Polymers to offset gain on naphtha More

Hetero Drugs plans to tap capital market next fiscal
To set up Rs 250-crore facility in Visakhapatnam More

CTMTC to sell 5 m spindles this year
China Texmatech Company (CTMTC) hopes to export to India about five million spindles during 2006 calendar, according to Mr Wu Xiuhua, Vice-President of CTMTC. The textile machinery manufacturing plant of the company has a mass production line ... More

PERFORMANCE


Bajaj 2, 3-wheeler sales up 30% in Feb
Bajaj Auto Ltd has reported a 30-per cent increase in total sale of two and three-wheelers for February, to 2,05,776 units from the previous corresponding 1,58,129 units. Sale of 2-wheelers was up 29 per cent at 1,79,880 units ... More

Tata Motors sales up 22%
Tata Motors on Thursday reported a 22 per cent increase in total sale of vehicles (including exports) for February 2006 to 45,114 units from the previous corresponding 36,977 units. Domestic sale of commercial vehicles moved up by 30 per cent ... More

Honda sales up 24 pc in Feb
Honda Siel Cars India witnessed 24 per cent growth in February 2006 over February 2005. The company sold 2,200 units compared with 1,775 units earlier. Sales comprised 2,077 units of the Honda City, 97 units of the Accord, and 26 ... More

Ford India posts 47% growth
Ford India has reported a 47 per cent growth in year-on-year sales with 3,023 units sold in February 2006 against 2,062 in the same month last year, according to a press release from the company. Sales ... More

PEOPLE


MICO deputy MD joins US co
Motor Industries Company (MICO) has informed the Bombay Stock Exchange that the Joint Managing Director, Mr V.K. Viswanathan, has taken up a new assignment in Robert Bosch Corporation, Farmington Hills, USA (Robert Bosch North ... More
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Top Stories
Ban likely on alcohol, tobacco additives in food products


FIIs unlikely to rush for G-Secs, corporate bonds

Hallmarked jewellery a safer bet, says RBI

Cement majors post increase in sales

Budget doubles excise duty on sugar

Frontline gets more contemporary look

Pepper exports to US decline

In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Feb. 19-Feb. 25
ONGC close to buying SPIC Petro for Rs 1,200 crore — Formal pact may be signed soon

Exclusive marketing rights for Novartis' cancer drug cancelled



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