Financial Daily from THE HINDU group of publications
Wednesday, September 07, 2005
Markets (Sept 6)
BL 2502403.57 (+5.40)
BSE Sensex7946.78 (+21.54)
S&P CNX Nifty2428.65 (+5.70)
US Dollar (Buy/Sell)43.85/43.98
Gold Std (10 gm)6375 (-5)


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ANNOUNCEMENTS


Bajaj opens probiking showroom, plans 10 more
PROBIKING is only the tip of the iceberg. What we are planning is to have specialised channels for our vehicles and we have identified four such channels," said Mr Rajiv Bajaj, Managing Director, Bajaj Auto Ltd (BAL), after the inauguration of ... More

Cipla chief dismisses rumours of stake sale
DRUG major Cipla has put a lid on speculation that its promoters were interested in selling their stake in the company. "As matters stand today, we have no intention of selling the company," Dr Yusuf Hamied, Chairman of the company, told ... More

BSES Yamuna appoints new CEO
RELIANCE Energy-controlled BSES Yamuna Power Ltd (BYPL) has named Mr Arun Kanchan as its new Chief Executive Officer. Mr Kanchan replaces Mr Rakesh Aggarwal, who was removed recently following complaints regarding the functioning of the ... More

PRIVATE PLACEMENT


Jubilant Organosys allots 9.9 lakh shares to General Atlantic
JUBILANT Organosys Ltd has allotted 9.9 lakh fresh equity shares of Rs 5 each at Rs 1,100 a share amounting to Rs 109 crore to GA European Investments Ltd, an affiliate of General Atlantic LLC (GA). The shareholders approved this proposal at ... More

CORPORATE DISPUTES


Aiyar disapproves of public spat
NEW DELHI: The Petroleum Minister, Mr Mani Shankar Aiyar, has expressed his displeasure at the way the issues raised by the Chairman and Managing Director of Oil and Natural Gas Corporation, Mr Subir Raha, on the move to increase the ... More

CORPORATE BONDS


IOC to raise Rs 1,000 cr from bond market
INDIAN Oil Corporation Ltd (IOC) is set to raise Rs 1,000 crore from the Indian bond market with a proviso of `Green Shoe' Option. According to a company release, this borrowing is to tide over the current financial situation. The company ... More

MERGERS & ACQUISITIONS


GAIL, Petro-Bangla to bid for Bangladesh block
GAIL (India) Ltd and Petro-Bangla will jointly bid for exploration in an off-shore block in Bangladesh. Addressing a press conference here on Tuesday, GAIL's Chairman, Mr P. Bannerjee, said that the company would form a consortium with ... More

Nicholas Piramal seals private placement in Canadian biotech co
THE Mumbai-based drug major Nicholas Piramal India Ltd (NPIL) said on Tuesday that it has completed the private placement of 7,500,000 common shares at a price of Canadian $0.80 per share in Canadian biotech company BioSyntech. NPIL's ... More

Jain Irrigation board okays merger of Terra Agro Tech
JAIN Irrigation Systems Ltd's board of directors has approved the merger of Terra Agro Technologies Ltd with it. Terra Agro, a 100 per cent export oriented unit and closely held, is involved in the cultivation and dehydration of vegetables for ... More

NEW PROJECTS


ONGC to soon call for engg contract bids for Dahej plant
OIL and Natural Gas Corporation Ltd (ONGC) will call for engineering, procurement and construction (EPC) contracts for its proposed methane and propane extraction plant at Dahej in the next two weeks. "We will invite the EPC bids for our C2 ... More

LG Electronics to set up second plant near Pune
LG ELECTRONICS INDIA on Tuesday signed an MoU with the Maharashtra Government for setting up its second greenfield facility at Ranjangaon, near Pune. The company will be investing Rs 900 crore in this facility for manufacturing DVD writers, ... More

ALLIANCES & JOINT VENTURES


ONGC-MRPL in talks for opening retail outlets
THE ONGC-MRPL combine is negotiating with a retail major for opening outlets at its petrol pumps across the country. The group has entered into a tie-up with Gulf Oil for marketing the latter's lubricants and car-care products at all outlets. ... More

ONGC ties up with Italy's ENI for deep-water exploration
OIL and Natural Gas Corporation (ONGC) on Tuesday entered into an agreement with Italy's ENI for deep-water exploration in India and abroad. A memorandum of understanding was signed by ONGC's Chairman and Managing Director, Mr Subir Raha, and the ... More

SOCIETY & DEVELOPMENT


SIMPLY...
Giving back to Mumbai — Corporates are game, but where is the gameplan?
Mumbai's business barons are willing to "give back to the city". But most of them would prefer to contribute in a manner that leaves some lasting and material evidence rather than contribute to a Relief Fund. More

OUTLOOK


Minilec plans to tap China, EU markets
MINILEC India Pvt Ltd, an ISO 9001 (2000) company and player in the global market for the electric pump and motor protection relays, has initiated export activities to cater to China and the European Union markets. Talking to Business ... More

Advanced Medical Optics plans $10-m investment in India
The company is also open to participating in the Government's cataract eradication programme. More

ECONOMIC OFFENCES


AP team to visit VW for talks — Govt rejects DD from German car major
A HIGH-POWERED team from Andhra Pradesh Government is set to visit Wolfsberg, the headquarters of the German automotive giant, Volkswagen AG, later this month to hold parleys for the proposed car plant in the State. Announcing this here today, ... More

PEOPLE


Shipping Corporation: Confusion continues on CMD appointment
CONFUSION still shrouds the appointment of a chairman-cum-managing director for Shipping Corporation of India (SCI), with Director (Personnel), Mr S. Hajara, being asked to take only temporary charge as CMD. A temporary CMD has been put in ... More
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