Financial Daily from THE HINDU group of publications
Friday, September 16, 2005
Markets (Sept 15)
BL 2502485.68 (+22.41)
BSE Sensex8283.76 (+94.28)
S&P CNX Nifty2523.95 (+31.50)
US Dollar (Buy/Sell)43.83/43.96
Gold Std (10 gm)6455 (+20)


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ANNOUNCEMENTS


MRPL to raise capacity to 15 million tonne
MANGALORE Refinery and Petrochemicals Ltd (MRPL), which recorded a highest throughput of 11.848 million tonnes in 2004-05, will increase the refining capacity to 15 million tonnes per annum (mtpa). The company is also considering capital ... More

Honda contends with heavy order backlog for Activa
AFTER resolving a labour dispute at its plant a couple of months ago, which resulted in substantial loss of production, Honda Motorcycle and Scooter India (HMSI) is now having to contend with a heavy backlog of orders for its scooters. The ... More

Kothari Sugars settles dues through restructure package
KOTHARI Sugars and Chemicals Ltd has settled its debts through a restructure package and will now look to stabilising and expanding its operations. Addressing its annual general meeting here on Thursday, the Chairman and Managing Director, Mr ... More

MRPL approves 10 pc dividend
MANGALORE Refinery and Petrochemicals Ltd (MRPL) has announced a dividend of 10 per cent on the equity share capital in view of the sustained improvements in the performance of the company. Addressing the annual general meeting of the company ... More

Hatsun Agro to close Kolkata unit
HATSUN Agro Product Ltd, the Chennai-based private dairy, has decided to close its milk business in Kolkata, according to information provided by the company to the stock exchange. The company is processing and marketing milk under the brand ... More

INOX Leisure to foray into film distribution — Plans Rs 100-cr expansion
INOX Leisure Ltd, the entertainment arm of the Rs 750-crore turnover Inox Group, plans to expand with a fresh investment of Rs 100 crore by 2006-07. Of the proposed investment corpus, Rs 25 crore would be invested in the current financial ... More

GVSL sells stake in Lokesh Machines
GUJARAT Venture Finance Ltd (GVFL) has announced that it has shed its stake in Lokesh Machines Ltd, a Hyderabad-based company which makes special purpose machines. In a press release here, GVFL said it had invested Rs 2.2 crore in Lokesh ... More

AWARDS & HONOURS


Tantea bags `largest tea seller' award
COONOOR: The Coonoor-based Tamil Nadu Tea Plantation Corporation (Tantea) has claimed the award for the largest tea seller in the corporate sector in the Coimbatore auctions during 2004-05. The award, instituted by the Tea Trade ... More

RESTRUCTURING


GE Shipping board approves demerger of offshore services
THE board of directors of Great Eastern Shipping Ltd, which met on Thursday, has approved the details of the scheme for demerger of its offshore services business into a separate company, Great Offshore Ltd. As per the details, shareholders of ... More

MERGERS & ACQUISITIONS


Sun Pharma buys Valeant's Ohio facility
AFTER having acquired Valeant Pharma's manufacturing unit in Hungary last month, the Mumbai-based drug major Sun Pharma has signed an agreement to buy the company's manufacturing facility at Ohio as well. The cost of acquisition has not been ... More

ALLIANCES & JOINT VENTURES


Gangagen Life Sciences ties up with Elanco
GANGAGEN Life Sciences Inc has signed an agreement with Elanco Animal Health, an Eli Lilly division, for collaborative research, licencing and commercialisation of anti-bacterial products derived from bacteriophages. The company's President ... More

SOCIETY & DEVELOPMENT


Magic chemistry
Anu Aga handed over the reins of Thermax to daughter Meher last year, and looks upon her as a `role model' on aspects such as her diplomacy and ability to manage conflict. More

OUTLOOK


BHEL's Tiruchi unit to look for ancillaries in North
BHARAT Heavy Electricals Ltd's Tiruchi unit, which produces boilers for power plants, wants to look for ancillaries in northern India, the unit's head and Executive Director, Dr V. Gopalakrishnan, told Business Line recently. He, ... More

Joint venture partner for SPIC Petro soon
THE SPIC group will shortly finalise a joint venture partner to revive its subsidiary SPIC Petrochemicals Ltd, according to its Chairman, Mr A.C. Muthiah. Declining to comment on the profile of the partner, he said, "You will hear something ... More

Tata Tea in talks with US cos for biz prospects
TATA Tea on Thursday said that it has been "looking aggressively for opportunities in the US." As part of it, the company has initiated dialogue with a number of prospective companies. "However, talks are still in the discussion stage and ... More

Eppendorf India keen on tapping biotech market
EPPENDORF India, a subsidiary of Eppendorf AG, Germany, is strengthening its presence in the biotechnology market. The company has moved into a new facility in Chennai. A press release quoting its Chief Executive Officer, Mr Klaus Fink, said ... More

SRMB 500 bars launched in Vizag
SRMB Udyog, a steel re-rolling mill based at Kolkata, is on a drive to expand its market reach and is projecting a sales turnover of Rs 450 crore by the end of the current financial year. Currently, it has a turnover of Rs 300 crore. Mr M.M. ... More

PEOPLE


Appointment of independent directors according to norms: Aiyar
THE Petroleum Minister, Mr Mani Shankar Aiyar, today said that a final decision on the appointment of independent directors for public sector oil companies would depend on the approval of the search committee of the Department of Public ... More
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