Financial Daily from THE HINDU group of publications
Tuesday, August 30, 2005
Markets (August 29)
BL 2502349.05 (-17.52)
BSE Sensex7634.43 (-45.79)
S&P CNX Nifty2337.65 (-19.40)
US Dollar (Buy/Sell)43.84/43.97
Gold Std (10 gm)6305 (+30)

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ANNOUNCEMENTS


Vijay Textiles plans to raise $45 m
VIJAY Textiles Ltd is exploring the possibility of going in for foreign currency convertible bonds/issue of preference shares/ADR/GDR/SPN or any securities convertible into equity shares up to $45 million. The company has informed BSE that its ... More

Jubilant AGM okays share allotment to General Atlantic
THE shareholders of Jubilant Organosys Ltd today approved the allotment of 9,90,000 equity shares to GA European Investment Ltd (affiliate of General Atlantic, LLC) at Rs 1,100 per equity share of Rs 5 each amounting to Rs 100 crore. GA currently ... More

OUTSOURCING


UK-based auto cos looking at new avenues in India
A NUMBER of UK-based automobile companies are looking at India for more partnerships with domestic firms. One of the key reasons driving this is that auto companies in the UK are lowering the prices of their products to gain more volume. For ... More

RESTRUCTURING


GE Shipping split: No large cash transactions likely
ALTHOUGH on a much lower scale and involving much lower media attention compared to the recent split of the Reliance behemoth, the splitting of the country's largest private shipping company, Great Eastern Shipping Co, which will be formally ... More

MERGERS & ACQUISITIONS


Promoters' associate co offloads 16% in S Kumar's Nationwide
CHAMUNDESHWARI Trading and Finance, a big shareholder in S Kumar's Nationwide, has sold more than 16 per cent in the company in the open market this month. Most of these shares were bought by HSBC. Mr Nitin Kasliwal, Managing Director of S ... More

Dubai's Coal & Oil Co looking to acquire coal mine in Indonesia
The company, according to President and CEO, Mr Ahmed A.R. Buhari, has a 30 per cent share of the imported coal market in India. More

NEW PROJECTS


Sree Sakthi to increase capacity
SREE Sakthi Paper Mills Ltd, one of the leading paper mill manufacturing industrial variety paper in the South, has chalked out capacity expansion initiatives at an estimated investment of Rs 25 crore. The company had proposed to increase the ... More

With Oil Ministry's stand on ONGC's plan for MRPL — Mangalore SEZ investment proposals in limbo
THE memorandum of understanding between Oil and Natural Gas Corporation Ltd (ONGC), the Karnataka Government and the Kanara Chamber of Commerce and Industry (KCCI) - in which ONGC had promised to invest around Rs 21,000 crore in various ... More

ALLIANCES & JOINT VENTURES


Tata Steel ties up with Nippon for Orissa plant
TATA Steel , which plans to set up a 6-million tonne steel plant at Kalinganagar in Orissa, has signed an agreement with Nippon Steel Corporation to get technical assistance. According to an official statement here today, the Japanese steel ... More

IDEB Construction signs MoU with Chinese major
IDEB Construction Projects Pvt Ltd has signed an MoU with Shanghai Urban Construction Group Ltd for taking up large infrastructure projects such as the construction of bridges, roads, tunnels, highways and Metro Rail in India. Shanghai Urban ... More

INTERVIEW


`Policy is the key to wind power' — Mr Ramesh Kymal, MD, NEG Micon (India) and Chairman, Indian Wind Turbine Manufacturers Assn
POLICY. This is the single most important issue to help grow the renewable energy sector, particularly wind power, says Mr Ramesh Kymal, Managing Director, NEG Micon (India) Pvt Ltd, a leading Chennai-based manufacturer of wind turbines. A ... More

VENTURE CAPITAL


Funding still a roadblock for biotech start-ups
ARE angel investors shying away from helping biotech start-ups from taking wing? Or is it that biotech companies are not biting the bait from venture capital (VC) companies? Both of the above are true, say representatives of the biotech ... More

RIGHTS ISSUE


Salzer Electronics planning rights issue
The board, which met last week decided to go in for a rights issue, but left the other details (such as the premium, and ratio) to be worked out by a sub-committee formed for this purpose. The sub-committee is expected to meet within the next ... More

OUTLOOK


Tata Sons looking to grow in China
TATA Sons Ltd, the holding company of the Tata group, is looking to increasing business of various group companies in China. With the group's total business in China at about $200 million, "looking forward, can be greater," according to Mr Alan ... More

Israeli exhibition co keen to host shows in India
KENES Exhibitions, an Israeli major organising exhibitions, is keen to bring international exhibition-cum-conferences in focussed areas of biotechnology and medicine to India. A subsidiary of Kenes International, a globally recognised name in ... More

Jaquar aims to achieve turnover of Rs 350 cr
JAQUAR & Company, a leading player in bathroom fittings and kitchenware, has set a turnover target of Rs 350 crore. Last year, the company registered a turnover of Rs 260 crore. Addressing a press conference here on Monday, Mr Rajesh Mehra, ... More


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