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Wednesday, October 21, 2009
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OUTLOOK: PSU refiners face Rs 5,000-cr monthly losses as crude oil hits $80
Subsidised fuel supply could burn up Rs 15,000 cr in third quarter. New Delhi/Mumbai, Oct. 20 Public sector oil refiners are worried that losses on subsidised fuels could touch Rs 5,000 crore a month in the third quarter of this fiscal if the ...

CORPORATE DISPUTES: Gas row: Sue Mukesh, don’t involve shareholders, says RIL
New Delhi, Oct. 20 The Mukesh Ambani-led Reliance Industries Ltd (RIL) told the Supreme Court that the ongoing legal battle with the Anil Ambani group company, Reliance Natural Resources Ltd (RNRL), should not be construed as one ...

NEW PROJECTS: NMDC drops new diamond exploration projects
To ramp up production at existing mines. Hyderabad, Oct. 20 National Mineral Development Corporation (NMDC) is ramping up production of diamond at its existing mines, but will stop new exploration projects due to ...

COURTS/LEGAL ISSUES: Coke wins case against Bisleri for Maaza brand name
The Delhi High Court has asked the Ramesh Chauhan-led Bisleri International to stop selling the mango flavoured soft-drink under the trade name Maaza in India, giving Coca-Cola a victory in a trademark ...

TRADE & LABOUR UNIONS: One-day strike cripples Gurgaon-Manesar belt
One lakh workers come out in support of Rico Auto’s workers. New Delhi, Oct. 20 The industrial environment in the Gurgaon-Manesar belt was severely impacted on Tuesday with about one lakh workers in 70 factories going on strike in ...

MERGERS & ACQUISITIONS: Tata Motors completes Hispano buyout
Mumbai, Oct. 20 Tata Motors has wrapped up its acquisition process of Spanish bus body builder Hispano ...

OVERSEAS INVESTMENTS: Wood from Tanzania may light up Indian homes
Chennai, Oct. 20 If Clenergen’s plans work out, wood chips will come from Tanzania to fuel the company’s power projects ...

NEW PROJECTS: Clenergen plans biomass-based projects
Clenergen India Pvt Ltd, which has entered into a 15-year power purchase agreement with PTC India Ltd, plans to set up over 80 MW of biomass based power ...

OVERSEAS INVESTMENTS: IFGL Refractories looks at more overseas buys
IFGL Refractories Ltd, which made two overseas acquisitions in the past four years, one each in the UK (2005) and Germany (2008), is planning more such ...

NEW PROJECTS: Rallis to invest Rs 250 cr in new facility
Rallis India, a Tata agrochemicals company, plans to invest Rs 250 crore over the next three years to set up a new facility in Dahej, ...

NEW PROJECTS: Lanco Infra to switch on Kondapalli expansion by Oct-end
Lanco Infratech Ltd is all set to commission the first unit of Kondapalli expansion project, its maiden merchant power plant, by October-end, and first unit of imported coal-powered project at Udupi in Karnataka by March ...

PREFERENTIAL ALLOTMENTS: Celestial Labs to issue preferential warrants
Celestial Labs Ltd will allot 8.45 lakh convertible warrants on preferential ...

RIGHTS ISSUE: Jayshree Chem plans rights issue
SK Bangur group company Jayshree Chemicals has prepared a draft letter of offer for a rights issue. According a release on Tuesday, the draft would soon be placed ...

ENVIRONMENT: Plachimada panel has ‘no powers’
The Plachimada Solidarity Committee has demanded formation of a statutory authority to prosecute Hindustan Coca-Cola Company for environmental and other damages caused by its unit at Plachimada. Raising doubts about the efficacy of an 11-member ...

DIVIDEND ANNOUNCEMENT: Kamco pays dividend
...

REGULATORY BODIES & RULINGS: Apollo Pharma to retail H1N1 drug
Apollo Pharmacy has received a licence from the Drug Controller General of India for the retail sale of Oseltamivir, a drug for the treatment of H1N1 influenza. Speaking about the initiative, Ms. Shobana Kamineni, Director, Apollo Pharmacy, ...


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




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Markets (Oct 20)
Nifty (at close)5,112.60(-29.20)
US Dollar (Buy/Sell)46.11/12
Brent crude (a bbl) Rs3,551
Gold (a gram) Rs1,488
Silver (a kg) Rs28,365

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