Financial Daily from THE HINDU group of publications
Friday, September 09, 2005
Markets (Sept 8)
BL 2502424.71 (+21.14)
BSE Sensex8052.56(+105.78)
S&P CNX Nifty2454.45 (+25.80)
US Dollar (Buy/Sell)43.85/43.98
Gold Std (10 gm)6380 (+5)


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CORPORATE

ACCIDENTS


Fire at ONGC's well in K-G basin; no casualties
A BLOWOUT occurred on Thursday morning in an exploratory well of Oil and Natural Gas Corporation (ONGC) in the Krishna-Godavari basin at Thandavapalli in the vicinity of Amalapuram in East Godavari district. The rig was ruined, but there were no ... More

ANNOUNCEMENTS


Depreciation reduced, but GAIL's pipelines uninsured
INVESTORS of GAIL (India) Ltd have reason to cheer, because the company's profit is set to jump. And, the trigger is a simple shift downwards in the depreciation rate on GAIL's gas and oil pipelines. According to the company's press release, ... More

Migrant workers, villagers clash in Jamnagar; RIL declares day off
CLASHES between migrant labourers and villagers at Moti Khavdi in Jamnagar district of Gujarat have left 15 people injured and forced Reliance Industries Ltd to declare a day off for its workers in its refinery. According to police, clashes ... More

GAIL ventures into marketing of crude oil
GAIL (India) Ltd has announced its foray into marketing of crude oil with the flagging off of the first tanker of crude oil produced by it from the block in Cambay basin. According to a company release, in the block CB-ONN-2000/1 in Cambay ... More

CORPORATE DISPUTES


CDMA operators allege GSM camp misrepresented facts
EVEN before the Government-sponsored joint working group on spectrum has met for the first time, the CDMA and GSM operators have once again entered into a war of words. While CDMA-based operators today said that the GSM operators have ... More

OVERSEAS BORROWINGS


Nagarjuna Const plans $120-m GDR issue
NAGARJUNA Construction Company Ltd (NCCL) has decided to raise funds to the tune of $120 million by issue of `global depository receipts (GDRs) and or foreign currency convertible bonds (FCCBs)' or a combination thereof. The company informed ... More

MERGERS & ACQUISITIONS


Hyderabad Ind board okays draft scheme for merger with Malabar Building
THE board of Hyderabad Industries Ltd has approved a draft Scheme of Amalgamation whereby Malabar Building Products Ltd will be amalgamated with the company. Hyderabad Industries has informed the BSE that the board of directors of the company ... More

NEW PROJECTS


Tata Steel, Jharkhand sign pacts for greenfield plant — Line up Rs 53,000-cr investments
THE Government of Jharkhand and Tata Steel Ltd on Thursday signed memorandums of understanding (MoUs) for setting up the new greenfield steel plant and adding to Jamshedpur capacity. The companyis setting up a 12-million-tonne (mt) per annum ... More

Agro Dutch plans Rs 87-cr expansion
Agro Dutch is also setting up a plant for individual quick freezing of mushrooms. More

Indo Schottle to invest Rs 70 cr to set up new units
PUNE-BASED auto component manufacturer, Indo Schottle Auto Parts is planning to invest about Rs 70 crore over the next three years to set up two new facilities. The company has recently offloaded 23 per cent to private equity firm Crossover ... More

Lenzing to set up viscose plant in China to meet Asia's demand
LENZING AG, the Austrian cellulose fibre major, which is putting up a new 60,000-tonnes-per-annum viscose plant in China is looking at China and India as the high potential region for its specialty fibre for the future. The China plant is likely ... More

BONUS ANNOUNCEMENTS


Himatsingka to issue 1:1 bonus; to go in for stock split
SILK fabric manufacturer and exporter Himatsingka Seide plans to issue 1:1 bonus even while going in for a stock split simultaneously. The board of directors of Himatsingka approved the stock split and the bonus issue on Thursday. Himatsingka ... More

OUTLOOK


B.M. Khaitan group plans to replicate Assam Valley School model
AFTER the success of the Assam Valley School in Tezpur, the Rs 2,000-crore B.M. Khaitan group plans to replicate the model in other parts of the country. Though the programme is in an infant stage, Mr Deepak Khaitan, Vice-Chairman and Managing ... More

PERFORMANCE


Ashok Leyland April-Aug vehicle sales up 18 pc
ASHOK Leyland sold 4,737 vehicles in August compared with 4,023 vehicles in the same month last year, a company press release says. In the first five months of the year, Ashok Leyland sold 22,340 vehicles, 18 per cent more than 18,963 it sold ... More
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