Financial Daily from THE HINDU group of publications
Thursday, January 09, 2003
Markets (Jan. 08)
BL 2501134.24 (+3.65)
BSE Sensex3357.87 (+27.37)
S&P CNX Nifty1089.35 (+7.55)
Dollar (Buy/Sell)47.93/48.06
Gold Std (10 gm)5620 (-40)

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Maruti hikes prices
MARUTI Udyog today hiked prices of its vehicles, except Baleno and Versa, by 0.33 per cent to 1.7 per cent, citing higher input costs such as increased steel prices. As per the current revision, the 800 standard model will be dearer by Rs 2,135 ... More

4 Ferro Alloys units have more than 5 pc equity
FERRO Alloys Corporation of India Ltd has informed the stock exchanges that four entities had more than 5 per cent equity holding in the company as on October 31, 2002. While Cornell Corporation holds 34.32 lakh shares constituting 16.86 per ... More

ONGC to invest Rs 500 cr in three new fields
THE Oil and Natural Gas Corporation (ONGC) will be investing Rs 500 crore towards development of three new fields, which are expected to yield up to 1.3 million tonnes of oil and oil equivalent gas. "We are taking up development of G-1 ... More

PREFERENTIAL ALLOTMENTS


Lanco Ind allots Rs 22-cr equity to Electro Steel
LANCO Industries Ltd (LIL), the Hyderabad-based pig iron manufacturer, has allotted additional equity capital of Rs 22 crore to the Kolkata-based pig iron major - Electro Steel Castings Ltd. In a communiqué to stock exchanges, LIL said ... More

MERGERS & ACQUISITIONS


ONGC bids for Cairn assets in India
THE Oil and Natural Gas Corporation (ONGC) has made a non-binding bid for Cairn Energy's assets in India, while its subsidiary, ONGC Videsh Ltd (OVL), has made an offer to buy Cairn's assets in Bangladesh, according to the ONGC Chairman and ... More

Ind Swift board clears swap ratio
IND Swift Ltd's board has approved a swap ratio of 72 shares of Rs 10 each of Ind Swift Ltd for every 10 shares of Rs 100 each of Mukur Pharmaceutical Co Private Ltd; and 54 shares of Rs 10 each of Ind Swift Ltd for every 10 shares of Rs 100 each ... More

NEW PROJECTS


ABB India bags order from Syria
ABB India, part of the ABB group specialising in power and automation technologies, has bagged an export order of Rs 168 crore from the Public Establishment of Electricity for Generation & Transmission (PEEGT), the Power Generation and ... More

PSL Holdings bags Rs 400-cr order
PSL Holdings Ltd, one of the leading steel pipe manufacturers in the country, has bagged orders exceeding Rs 400 crore in three pipeline projects in Southern and Western India, according to a company release. The company has bagged the New ... More

SICK UNITS


IDBI to invite proposals for Hind Antibiotics revival
THE Board for Industrial and Financial Reconstruction (BIFR) has directed IDBI to issue an advertisement inviting offers for takeover or leasing or amalgamation or merger for rehabilitation in the case of Hindustan Antibiotics Ltd, with or ... More

OUTLOOK


Tecumseh to make India export hub
"The Indian market has a very high potential for growth, with the penetration level for refrigerators and air conditioners being quite low. There is a tremendous market in India, particularly keeping in view the large Indian middle class". More

Focus on speciality drugs to continue sales jump in 2003 — Eli Lilly sees 28%
THE Indian outfit of Eli Lilly, the US-based multinational drug company, hopes to increase its annual sales by 28 per cent to Rs 160 crore during the current calendar year. This was announced by Mr Rajiv Gulati, Chairman and Managing Director ... More

NEW PRODUCTS & SERVICES


Ford launches Ikon variants
Along with the introduction of the Ikon NXT models, Ford India would come out with a new advertisement campaign, which focused on the fact that the models were well ahead of the competition in "exterior styling cues, interior refinements and contempo rary looks". More
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`Feedback on Bt cotton from farmers has been positive' - Mr Sekhar Natarajan, Managing Director, Monsanto India

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In the interest of better governance

Cutting costs...at what cost to Bhopal residents?

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