The Hindu Business Line : Saturday, September 05, 2009

CORPORATE

MERGERS & ACQUISITIONS: ArcelorMittal picks up stake in Uttam Galva
Mumbai, Sept. 4 ArcelorMittal Netherlands BV will step in as co-promoter of Mumbai-based Uttam Galva Steels. The company was promoted by Mr Rajinder Miglani in ...

OUTLOOK: IOC open to new tie ups for coal power project
Joint venture with Tata Power yet to take off. Chennai, Sept. 4 With the joint venture with Tata Power for a 1,000 MW project not taking off as planned, Indian Oil Corporation is open to joining hands with other private sector companies for ...

NEW BUSINESS: Essar Wildcat to drill another well for GSPC
Completes initial testing and assessment at KG Basin site. Mumbai/Hyderabad, Sept. 4 Essar Wildcat, the semi-submersible rig of Essar Oilfields Services Ltd (EOSL) and part of the Essar Group, which has completed drilling an offshore well (KG ...

NEW PROJECTS: SAIL bargains plant-for-raw material access in Jharkhand
New Delhi, Sept. 4 Steel Authority of India Ltd is ready to put up a greenfield plant in Jharkhand, if access to raw material resources is to be linked to additional investment in the ...

PERFORMANCE: JSW Steel output up 53% in Aug
JSW Steel has reported a 53 per cent growth in crude steel production at 521,000 tonnes in August, its highest-ever monthly crude steel production, said a press release from JSW Steel. Crude steel production was up 4 per cent on a sequential ...

PERFORMANCE: Bajaj Auto’s focus on bigger 100cc bikes pays off with Discover
Mumbai, Sept. 4 Bajaj Auto believes that the heady market response to the new 100cc Discover clearly vindicates its stand that customers in this segment want bigger ...

NEW PROJECTS: Ford India commissions new facilities at expanded plant near Chennai
Chennai, Sept 4 With the launch of its affordable small car scheduled for the first quarter of 2010, Ford India has started a step-by-step commissioning of the new facilities at its expanded plant at Maraimalai Nagar near here. The more ...

PEOPLE: Malay Mukherjee to take over as Essar Steel CEO
Mumbai, Sept. 4 The Essar Group has appointed Mr Malay Mukherjee, a member of the Arcelor Mittal board of directors, as the Chief Executive Officer of its steel business, effective ...

NEW PROJECTS: TI arm to invest Rs 30 cr in Sanand car door frame plant
Chennai, Sept. 4 TI Metal Forming, a division of Tube Investments of India, expects to invest Rs 30 crore at its Sanand plant in Gujarat, which would manufacture door frames for Tata’s ...

OUTLOOK: Gas dispute will not change purchase pact for NCR units: NTPC
New Delhi, Sept 4 NTPC Ltd on Friday said it has resolved pending issues, excepting one, with Reliance Industries Ltd (RIL) on the signing of a Gas Supply and Purchase Agreement (GSPA) with the Mukesh Ambani group company. The GSPA pertains ...

PRIVATE PLACEMENT: NCC to raise Rs 367 cr via QIBs
Nagarjuna Construction Company (NCC) Ltd has informed the Bombay Stock Exchange that the executive committee of board of directors approved the allotment of 2,77,32,900 equity shares of Rs 2 each at a premium of Rs 130.46 aggregating to Rs ...

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

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Markets (Sept 4)

Nifty (at close)	4,679.55(+85.65)
US Dollar (Buy/Sell)	48.88/89
Brent crude (a bbl) Rs	3,265
Gold (a gram) Rs	1,418
Silver (a kg) Rs	25,630

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