PREFERENTIAL ALLOTMENTS

COURTS/LEGAL ISSUES
Patent cases againt Dr Reddy's, Ranbaxy — `Pfizer's victory not to impact Indian generics'
A FAVOURABLE decision from the US Courts, twice in a little more than a fortnight - against Dr Reddy's and now Ranbaxy - may be a double whammy for Pfizer Inc, but it is not necessarily a thumbs-down for Indian generic companies, feel ... More

CREDIT RATING
ICRA grading to BE Billimoria
CREDIT rating agency ICRA Ltd has assigned a CR2 grading to BE Billimoria and Company that indicates strong project execution capability. The rating is based on the company's ability to complete projects on time without cost overruns and pay ... More

CORPORATE BONDS
Highest safety rating for PowerGrid bonds
ICRA has reaffirmed the highest safety `LAAA' rating assigned to the long-term bonds programme of Power Grid Corporation of India Ltd (PGCIL). The rating reflects PowerGrid's strategic role in the country's power sector as a sovereign-owned ... More

NEW PROJECTS
Work apace on Oswal ammonia plant in Australia
THE construction of the A$630-million (Rs 2,236 crore) liquid ammonia plant by the Oswal group is proceeding on schedule and it is likely to go on stream around July 2005. "The construction of the project is going on schedule, though there was ... More

CPCL plant to produce water from sewage
CHENNAI: Chennai Petroleum Corporation Ltd has set up a demonstration plant that can treat sewage and produce one million litres of water a day. The plant, set up at a cost of Rs 60 lakh, was inaugurated today by Dr R.A. Mashelkar, ... More

INTERVIEW
`Cheap Chinese imports hurting domestic tyre cos' — MRF looks to raise exports to 50 pc of sales
What hurts the industry even more is that Chinese tyre companies are able to buy rubber from India at prices much lower than that available to domestic tyre companies. And, in turn they dump tyres in India at almost half the price, according to ... More

IOC aims for presence from `drilling to dispensing'
INDIAN Oil Corporation (IOC) is an oil multinational in the making. Ranked 191 in the Fortune 500 list, IOC wants to get into the first 100 ranks by 2011 pushing its turnover from $25 billion now to $40 billion by that period. In an interview ... More

RIGHTS ISSUE
Bharat Forge rights issue placed at 1:20
BHARAT Forge Ltd on Friday informed BSE that its proposed rights issue would be in the ratio of one equity share of Rs 10 each for every 20 equity shares of Rs 10 each held on a record date to be notified later. The rights shares would be in ... More

Sterlite files draft offer for rights issue
STERLITE Industries has filed the draft letter of offer for rights issue of 2.27 crore equity shares of Rs. 5 each. According to the draft offer document filed with Securities and Exchanges Board of India, the price range of the issue would be ... More

SICK UNITS
Decks cleared for TRL revival
ALL hurdles seem to have been cleared to revive Travancore Rayons Ltd (TRL) at nearby Perumbavur, with the government and leaders of the opposition parties reaching a consensus. At a meeting on Tuesday (March 9) held by the State Industry ... More

Ester Ind rehabilitation moves a step ahead
THE rehabilitation proposal of Ester Industries Ltd (EIL), manufacturers of polyester chips, has moved a step forward with the Foreign Investment Promotion Board (FIPB) giving its nod for transfer of 14.04 per cent stake held by German financial ... More

OUTLOOK
Coking coal shortage hits SAIL plants
ALL the four integrated steel plants of Steel Authority of India Ltd (SAIL) are facing an acute shortage of imported coking coal. The crisis has assumed such great proportions that almost all the mills are forced to cut down ... More

PEOPLE