Financial Daily from THE HINDU group of publications
Saturday, July 30, 2005
Markets (July 29)
BL 2502328.80 (-13.64)
BSE Sensex7635.42 (+30.39)
S&P CNX Nifty2312.30 (-6.80)
US Dollar (Buy/Sell)43.45/43.58
Gold Std (10 gm)6080 (+30)


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ACCIDENTS


ONGC restores 70% gas supply from Mumbai High
OIL and Natural Gas Corporation has restored about 7.2 million standard cubic metres per day (mscmd) of gas supplies from the Mumbai High fields. This is about 70 per cent of the normal gas supply, the ONGC sources said. The restoration of ... More

ANNOUNCEMENTS


Alfa Laval posts higher net at Rs 19.65 cr; MD quits
SWEDISH multinational Alfa Laval India's Managing Director of eight years, Mr Satish Tandon, has resigned. The Alfa Laval UK Managing Director, Mr Nish Patel, has been appointed Managing Director of the company with effect from October 17, a ... More

OVERSEAS BORROWINGS


CESC plans $40-m GDR; net up at Rs 45 cr
CESC Ltd, the flagship company of RPG Group, has finalised a $40-million GDR (global depository receipt) issue during this year. The shares will be listed on the Luxembourg stock exchange. This will be the second GDR issue of CESC. The first ... More

Phillips Carbon plans FCCB issue to fund power project
PHILLIPS Carbon Black Ltd is planning to raise approximately Rs 105 crore through foreign currency convertible bonds (FCCB) to fund its proposed 35-MW power plant adjoining its Durgapur factory. According to Mr Sanjiv Goenka, Vice-Chairman, the ... More

FINANCIAL PERFORMANCE


Lotte India posts net loss
CHENNAI: Lotte India Corporation Ltd has declared a net loss of Rs 1.29 crore on sales and services of Rs 30.26 crore for the three months ended June 30, 2005 against a net profit of Rs 30 lakh on sales and services of Rs 24.98 crore for ... More

RESTRUCTURING


L&T plans to exit from jt venture with John Deere
ACTING on its decision to move out of non-core businesses, L&T today announced that it would exit from L&T-John Deere Pvt Ltd in favour of its joint venture partner. In the next few weeks, L&T will sell its 50 per cent stake in the ventur More

NEW PROJECTS


ESAB to set up welding equipment plant near Chennai
ESAB India on Friday broke ground for a welding equipment plant in Irungattukottai, near Chennai. The Rs 20-crore plant is expected to be ready for production in a year's time. Later, speaking to journalists, Mr Micheal G. Foster, Chairman of ... More

TRADE & LABOUR UNIONS


Honda workers meet Sonia
The workers also asked that their counterparts, who were retrenched by the HMSI management, be reinstated. More

ALLIANCES & JOINT VENTURES


HMT in talks with Japanese co for rural multi-utility vehicle
HMT Ltd is in talks with a Japanese automobile manufacturer for technology to manufacture rural multi-utility vehicle. The vehicle will combine the features of a tractor for ploughing the land as well as a family transport vehicle with covered ... More

SICK UNITS


Baalu promises to pursue HSL revival package
THE long-awaited revival and restructuring package for the ailing Hindustan Shipyard Ltd (HSL) here - approximately of the order of Rs 750-800 crore - has been considered by the Union Cabinet once and "sent back for further improvement", ... More

OUTLOOK


Nuziveedu to roll out Bt version of extra-long staple cotton soon
THE Secunderabad-based Nuziveedu Seeds Ltd is gearing up to roll out the Bt version of Extra Long Staple (ELS) cotton. "We are in the process of developing ELS hybrids as also Bt ELS. But it will take at least two years to release the Bt ... More

L&T bets on defence orders
LARSEN & Toubro expects that revenues from its defence business may go up from Rs 200 crore to Rs 1,000 crore annually within the next four or five years. It is true that defence orders largely go to ordnance factories of the defence sector and . More

ITC keen on M&A route for growth — Formal foray into personal care products
CITING the recent achievement of having touched the market capitalisation milestone of $10 billion as a "symbolic landmark, which underlines the power of performance", the ITC Chairman, Mr Y.C. Deveshwar, today announced at the AGM the company's ... More

PEOPLE


BIAL gets down to business with new CFO
BANGALORE International Airport Ltd, the company which is executing the new airport at Devanahalli, has kick-started its business activities with the posting of its Chief Commercial Officer. Mr Stephan Widrig is the second top-ranking ... More

TRENDS


Patalganga river cripples Mumbai industrial units
AT 6.20 p.m. on July 26, when there was a blow-out in the skies, there was four feet of water inside the factory premises of Cadila Healthcare Ltd at Patalganga, according to Mr Vinayak Pise, Senior Manager, Human Resources. By late evening, 64 ... More

Small, medium units take a break
THOUGH the suburban railway line, arguably the lifeline of Mumbai, was up and running on most regular routes, the medium and small industries in the city remained functional only on paper. The various industrial estates located in the ... More


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In Depth

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Looking back
Jul. 17-Jul. 23
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Centre may tone down its powers in proposed CA Bill

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