Financial Daily from THE HINDU group of publications
Tuesday, June 28, 2005
Markets (July 25)
BL 2502325.28 (+12.27)
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US Dollar (Buy/Sell)43.51/43.63
Gold Std (10 gm)6085 (+35)

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ANNOUNCEMENTS


Taj to manage luxury hotel in New York
TAJ Hotels, Resorts and Palaces, the flagship brand of Indian Hotels Company Ltd, is to re-enter the US market by signing a contract to operate and manage The Pierre, a 75-year-old luxury hotel on New York's Fifth Avenue. The Taj will take ... More

Non-exec directors of Tata Sons to retire at 75
THE main holding company of the Tatas has partially reversed a retirement policy that won it much appreciation when originally introduced. Tata Sons, it was informed today, has adopted revised guidelines for the composition of its board, ... More

SCCL to use satellite data for exploration
SINGARENI Collieries Company Ltd (SCCL) wants to bolster its ground-based coal exploration methods, mining and related activity by using satellite imagery. It plans to source high-resolution remote sensing data from Indian Remote Sensing ... More

Yamaha Motor unveils 100 cc bike
YAMAHA Motor India today launched Libero G5, a 100 cc `standard segment' motorbike. The vehicle is priced around Rs 41,000 and is expected to play a key role in Yamaha's aim of selling three lakh vehicles this year, compared to 2.5 lakh last ... More

Bata India lines up slew of measures to ride retail boom
BATA India Ltd has planned fresh initiatives to facilitate substantial growth in its retail business in the current calendar year. "We wish to be part of the great retail movement in India," said Mr P.M. Sinha, Chairman. Addressing shareholders ... More

No immediate plans for RIL-IPCL merger: Mukesh
MR Mukesh Ambani, Chairman of Indian Petrochemicals Corporation Ltd (IPCL), said there were no immediate plans to merge the company with Reliance Industries Ltd (RIL). He was speaking at the 36th annual general meeting (AGM) of IPCL in Vadodara ... More

PREFERENTIAL ALLOTMENTS


REL calls for EGM on July 19 to approve pref issue
RELIANCE Energy Ltd has called for an extraordinary general meeting of its members on July 19 to approve a preferential issue of equity shares that was proposed by the board at its meeting held on June 19. The board had proposed a preferential ... More

MERGERS & ACQUISITIONS


Torrent to buy Pfizer's drug co in Germany
THE Ahmedabad-based Torrent Pharmaceuticals Ltd has got the green signal from its board of directors to acquire Heumann Pharma GmbH & Co Generica KG, a generic drug company with the Pfizer group. The acquisition will give Torrent a footprint in . More

Ruia group to buy out another Orissa PSU
THE Kolkata-based Ruia Group, which controls Jessop and Co, is set to make yet another acquisition. The Orissa Government has recently cleared a proposal from the Group for acquiring a controlling stake in IDCOL Rolling Mills Ltd (IRML), a ... More

Fiat raises stake in Indian arm
FIAT India Pvt Ltd on Monday said Fiat Auto SpA had increased its stake in the company from 19.44 per cent to 44.61 per cent through an investment of over Rs 200 crore. According to a statement, after the infusion, Fiat India Pvt Ltd will be ... More

NEW PROJECTS


NTPC to submit plan for Lanka power station
NTPC today said that it plans to set up a 900 MW coal or LNG-based power plant in Sri Lanka. The Rs 26,000-crore company will submit a proposal to the Sri Lankan Government to set up the project either on a build, own, operate or on a build, ... More

ALLIANCES & JOINT VENTURES


Biocon arm ties up with SCIREX
BANGALORE: Biocon on Monday announced that its subsidiary, Clinigene International, has signed a letter of intent with SCIREX Corporation to collaborate on global clinical trials. SCIREX is a wholly owned subsidiary of the US-based Omnicom ... More

EVENTS


HPCL building inaugurated
VISAKHAPATNAM: The new administrative building of the Hindustan Petroleum Corporation Ltd's (HPCL) Visakh refinery was inaugurated here on Monday by the Executive Director, Mr D.K. Deshpande. The spacious building with four floors and a ... More

PEOPLE


Actis representative on Punjab Tractors board resigns
ONE of the two representatives of private equity firm Actis on the board of Punjab Tractors Ltd (PTL) is learnt to have put in his resignation on Friday. This decision of Mr Donald Peck, who is partner at Actis, seems to have been in the wake ... More
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