Financial Daily from THE HINDU group of publications
Wednesday, August 17, 2005
Markets (August 16)
BL 2502407.25 (+10.40)
BSE Sensex7768.24 (+0.75)
S&P CNX Nifty2369.80 (+8.25)
US Dollar (Buy/Sell)43.48/43.60
Gold Std (10 gm)6285 (-60)

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ANNOUNCEMENTS


Serum launches DTP/Hepatitis B combination vaccine
SERUM Institute of India Ltd, the country's largest vaccine manufacturer, has launched its combination vaccine Q-Vac for DTP (diphtheria, tetanus, pertussis (whooping cough) and Hepatitis B. Priced at Rs 50 per dose, Serum's vaccine is ... More

Sterling Resorts plans to raise capital thru equity, warrants
STERLING Resorts plans to raise fresh capital from issue of equity and warrants. At an extraordinary general meeting (EGM) on July 30 it decided to issue 37.4 lakh equity shares of Rs 10 each at Rs 43 (including premium) by moving an amendment ... More

OVERSEAS BORROWINGS


Ind-Swift completes $10.6-m GDR issue
IND-SWIFT Laboratories has completed raising $10.625 million through the issue of 25 lakh Global Depository Receipts (GDRs), each representing one underlying equity share of Rs 10 each. The GDRs will be listed shortly on the Luxembourg Stock ... More

ENVIRONMENT


Run-up to Montreat meet on climate change — Indian cos set to get better deal on carbon trading
INDIAN companies eyeing for carbon trading benefits may get a good deal now with prices increasing in the run up to the United Nations Framework Convention on Climate Change (UNFCCC) Montreal conference in November-December. Rates per tonne of ... More

GENDER


Bill tabled to permit women in night shifts
THE Government today tabled the Factories (Amendment) Bill 2005 that allows employment of women in night shifts. In March this year, the Cabinet had approved the amendment following long-standing demand for gender parity in the ... More

CORPORATE BONDS


PSL pact with Deutsche Bank
MUMBAI: PSL Ltd has informed the BSE that it has signed a subscription agreement with Deutsche Bank to issue zero coupon convertible bonds with a maturity of five years for a total value of $40 million. The bonds are to be converted to ... More

RESTRUCTURING


K.K. Birla group's sugar cos revamp plan suffers setback — Bihar Govt refuses reallocation of sugar unit to UP
THE proposed restructuring of the two sugar companies of the K.K. Birla group has received a major jolt, as the Bihar Government has not allowed relocation of a sugar unit to Uttar Pradesh. According to the plan worked out by Ernst & Young, the . More

MERGERS & ACQUISITIONS


Ranbaxy eyes large-sized acquisitions — Kalam inaugurates third R&D facility
AFTER Israeli Teva Pharmaceutical Industries Ltd announced plans of acquiring Ivax Corporation, making it the largest generics company in the world, Ranbaxy Laboratories Ltd reiterated on Tuesday that it is also looking at growth through ... More

NEW PROJECTS


ITC to invest Rs 2,500 cr in ECF paper plant
ITC Ltd plans to invest Rs 2,500 crore during the next two-three years towards putting up a greenfield Elemental Chlorine-Free (ECF) pulp and paper plant which would increase its annual paper and paperboard manufacturing capacity to 5.5 lakh ... More

Indo Schottle opens second unit in Pune
THE Pune-based Indo Schottle Auto Parts, manufacturer of automotive components, has inaugurated its second facility in Pune. Speaking to newspersons, Mr Vijay Pusalkar, Chairman and Managing Director, said that with this facility, 25,000 sq ft ... More

ALLIANCES & JOINT VENTURES


GV Films signs pact with 1-Net Singapore
GV Films has signed a memorandum of understanding (MoU) with 1-Net Singapore for the Web streaming of over 6,000 films for which Internet rights were acquired more than four years ago. Mr Mahadevan Ganesh, Chairman, GV Films, said that the ... More

RIGHTS ISSUE


K.K. Birla group to invest Rs 450 cr on sugar capacity expansion
The board had also decided to come out with a rights issue of Rs 65-70 crore for working capital requirements. More

OUTLOOK


Tata Steel to increase capacity to 15 mt
TATA Steel, which has announced plans to increase its steel capacity to 15 million tonnes by 2010, is looking at increasing its capacity to 25-35 mt beyond 2015. In an interaction with journalists of The Hindu group today, Mr B. ... More

PEOPLE


Tata Motors ED Sumantran resigns
DR V. Sumantran, Executive Director (Passenger Car Business & Engineering Research Centre), Tata Motors, has stepped down from his post. A company statement said today that he had communicated his decision to resign to pursue other interests ... More
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