Financial Daily from THE HINDU group of publications
Thursday, September 01, 2005
Markets (August 31)
BL 2502367.69 (+16.37)
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CORPORATE

ACCIDENTS


Minor fire at RCF plant
A MINOR accident was reported at the fertiliser plant of Rashtriya Chemicals & Fertilizer (RCF) Ltd at Mumbai at 12.30 p.m. on Wednesday. The accident resulted in burning of fertiliser. No casualties or injuries were reported. The fire was ... More

ANNOUNCEMENTS


Ashok Leyland to roll out luxury buses
ASHOK Leyland plans to introduce more than 20 new products in the current year, including a range of luxury buses and heavy-duty trucks. According to Mr R. Seshasayee, Managing Director, Ashok Leyland, two new luxury buses under the ... More

GAIL may join hands with China Gas
GAIL (India) Ltd has received an offer from China Gas Holdings Ltd (CGHL) for participation in a gas-based petrochemical project, which is to be established in Humor, Inner Mongolia. According to a company release, the feasibility study of the ... More

Ruchi Group to consolidate operations
The board of directors of Ruchi Soya Industries Ltd, the flagship company of Ruchi Group, has considered and approved the appointment of RSM & Co as consultants to evaluate and advise on the consolidation of each of the group's businesses, ... More

Tata Ryerson to hike steel processing capacity
TATA Ryerson Ltd, a 50:50 joint venture between Tata Steel and Ryerson Tull of the US, on Wednesday announced plans to augment its steel processing and distribution capacity from 0.9 million tonnes per annum at present to 2 mt per annum by 2010. ... More

POSCO begins Indian operations — Indian arm registered with Registrar of Cos
KOREAN steel major Pohang Steel Company (POSCO) has started its Indian subsidiary, POSCO-India Private Ltd, to implement its 12 million tonnes per annum capacity greenfield steel plant project in Orissa. "POSCO-India Private Ltd has been ... More

McLeod Russel to foray into bio-tech, tea tourism
MCLEOD Russel India Ltd, a BM Birla Group company, has decided to enter the tea tourism and bio-technology sectors, according to Mr Aditya Khaitan, Managing Director. He was talking to reporters after addressing shareholders at the company's ... More

GAIL may participate in Iran-Pak-India pipeline
GAIL (India) Ltd has not ruled out a possibility of participating in the Iran-Pakistan-India (IPI) pipeline consortium. A senior GAIL executive told Business Line that a number of options for import of gas from Iran were being examined, ... More

OVERSEAS BORROWINGS


Listing in domestic exchanges made mandatory for cos issuing GDRs
THE Finance Ministry has made it mandatory for unlisted companies that have raised funds from the overseas markets through the Global Domestic Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs) route to list on the domestic stock ... More

INFORMATION TECHNOLOGY


Forrester report points to hike in IT budget by Indian firms
Results point to a two-speed India, where one group is investing in IT for the first time, and the other in upgradation. More

HUMAN RESOURCES


McDonald's India believes in grooming talent from within
WHILE quick service restaurants across the world have taken to temporary employees in a big way, McDonald's in India begs to differ. All employees of the McDonald's team in India, nearly 3,000 of them, are on the company's rolls. This is in ... More

RESTRUCTURING


GE Shipping to de-merge offshore business — Vijay Sheth to head new co
THE Board of Directors of Great Eastern Shipping Co has decided to de-merge its offshore business into a new company that will be listed on both NSE and BSE. The equity swap ratio will be decided after the valuation, which is expected to be ... More

MERGERS & ACQUISITIONS


El Paso sells stake in PPN Power to promoter
With this, Apollo Infrastructure Project Finance Company's stake in the project goes up to 54 per cent. More

NEW PROJECTS


Madras Cements to set up captive power plant in AP
MADRAS Cements Ltd plans to set up an 18-MW coal-based captive power plant at its Jayanthipuram plant in Nalgonda district of Andhra Pradesh. The plant is expected to cost about Rs 60 crore and will come up next year. This will be the second ... More

Shrenuj chalks out expansion plans
SHRENUJ & Co Ltd, the Rs 490- crore diamond and jewellery manufacturer and exporter, plans to set up a new jewellery manufacturing facility in Mumbai and expand its global distribution centres. However, the cost of the proposed expansion and ... More

Tata International plans footwear unit at Kolkata
TATA International is planning to set up an integrated facility for tanning and footwear manufacturing at the Calcutta Leather Complex. This was confirmed by the State Commerce and Industry Minister, Mr Nirupam Sen, who said the company had ... More

Volkswagen committed to setting up plant in AP, says CM
VOLKSWAGEN AG is committed to setting up a car manufacturing plant in Andhra Pradesh, said the Chief Minister, Dr Y.S. Rajasekhara Reddy. The project has been dogged by a payment scandal involving a former representative of the auto major in ... More

DIVERSIFICATION


K.C.P. Sugar plans to set up cogeneration facilities — To invest Rs 8 crore in biopesticide plant
K.C.P. Sugar and Industries Corporation Ltd plans to set up cogeneration facilities at both its sugar mills in Andhra Pradesh and diversify into neem-based biopesticides. According to Ms V. Kiran Rao, Executive Director, K.C.P. Sugar, the ... More

BONUS ANNOUNCEMENTS


Astra Microwave to increase share capital
ASTRA Microwave Products Ltd has decided to increase the authorised share capital from Rs 6 crore to Rs 20 crore. It has informed the BSE that the members at the extraordinary general meeting held on August 31 also okayed the sub-division of ... More

OUTLOOK


Saint Gobain's facility to begin production in Oct-Nov
SAINT Gobain Glass India's expanded facility for float glass production is expected to commence production in October-November while that of its automotive glass plant has started commercial operations in July. According to an official press ... More

CIL may acquire coal block in Russia
COAL India Ltd (CIL) is planning to acquire a coal block in Russia. The company has recently identified a block in that country and a team of experts would be going to Russia next month to make an on-the-spot assessment of the potential reserves, ... More

VIP aims at Rs 100-cr exports this fiscal
HAVING established its leadership in the domestic market, luggage major VIP Industries Ltd, aims at strengthening its presence in the global arena with a projected exports of Rs 100 crore during the current fiscal. It has already invested Rs 18 ... More

PEOPLE


Hajara is new SCI chief
MUMBAI: Mr S. Hajara, Director (Personnel), Shipping Corporation of India (SCI), has been appointed as the Chairman of the company, ending months of uncertainty on who will succeed Mr P.K. Srivastava, whose term as chairman expired today. ... More

TRENDS


Projects seeking to sell carbon credits racing against deadline
TIME is running out. Several Indian projects seeking to sell carbon credits may lose out on revenues if they are unable to get their projects registered at the United Nations Framework Convention on Climate Change (UNFCCC) by December this year. ... More
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Top Stories
Change in functioning of IRDA's tariff advisory panel on cards


Forrester report points to hike in IT budget by Indian firms

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In Focus

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In Depth

Gender Justice
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Looking back
Aug. 21-Aug. 27
Bigger companies face bigger fines — SEBI sounds warning on Clause 49

IOC posts cash loss in July; Aug to be no different

TI to invest Rs 120 cr in capacity expansion — Seeks Korean tech for door frames

High crude prices derail IndianOil Petronas' plan to set up LPG terminal

Bharti in $125-m deal with Nokia for rural network expansion

L&T to rebuild Kensington Oval in Barbados

`Brand-repair' a major issue for drug cos: KPMG


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