Financial Daily from THE HINDU group of publications
Tuesday, September 20, 2005
Markets (Sept 19)
BL 2502535.25 (+26.89)
BSE Sensex8444.84 (+63.88)
S&P CNX Nifty2567.10 (+14.75)
US Dollar (Buy/Sell)43.85/43.98
Gold Std (10 gm)6610 (+55)


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CORPORATE

ANNOUNCEMENTS


BPL to retain alkaline battery business
BPL Ltd, which has signed an MoU with Eveready Industries to sell its dry cell battery business to the latter, is keeping its alkaline battery business. It expects an export market for the batteries in the US, EU, UK, and Japan, where it is ... More

Ranbaxy gets USFDA nod for overactive bladder drug
RANBAXY Laboratories Ltd has received tentative approval from the US Food and Drug Administration to manufacture and market tolterodine tartrate tablets on 1 and 2 mg dosages. Tolterodine tartrate tablets are indicated for the treatment of ... More

L&T wins ONGC rig restoration project
A CONSORTIUM led by Larsen & Toubro has won the fast-track project of restoring output at Oil & Natural Gas Corporation's Bombay High platform, which was recently ravaged by a fire. L&T's consortium partner is Global Industries Offshore L More

PREFERENTIAL ALLOTMENTS


Danlaw Tech pref offer
HYDERABAD: Danlaw Technologies India Ltd has informed the BSE that the company is set to issue 5,00,000 equity shares at a premium of Rs 55 on a preferential basis aggregating Rs 3.25 crore. This move follows members' approval at the ... More

CORPORATE DISPUTES


If RIL backtracks on pact with NTPC, Govt may review KG Basin pact
THE Centre may consider reviewing the agreement signed with Reliance Industries Ltd (RIL) for production-sharing of gas from the KG Basin, if the company backtracks on its original pact for supplying gas to state-owned National Thermal Power ... More

MERGERS & ACQUISITIONS


Eveready acquires BPL battery biz
Deal worth Rs 67 cr; market share to go up to 56 pc

BPL's battery market share is currently at around 10 per cent. The acquisition would help Eveready to increase its market share to 55-56 per cent from the existing level of 47 per cent. More

NEW PROJECTS


Mercedes steps on biodiesel
IF YOU were asked to suggest the next class of Mercedes vehicles, you may as well bet on `BD', for bio-diesel. DaimlerChrysler India (DCIL) is so charged up on the idea that in August it took two C class vehicles — Mercedes Benz and Viano, ... More

Natco Pharma to invest Rs 50 cr in expansion
HAVING successfully raised $13.5 million in the global market through foreign currency convertible bonds (FCCBs) recently, Natco Pharma Ltd (NPL) has chalked out expansion and modernisation programme with investments of over Rs 50 crore. The ... More

TRADE & LABOUR UNIONS


Wage pact in Tata Steel
A "HISTORIC" wage agreement was signed between Tata Steel Ltd and the Rashtriya Colliery Mazdoor Sangh (REMS), outside the purview of the National Coal Wage Agreement (NCWA) umbrella. This is for the first time in Tata Steel's history that the ... More

ALLIANCES & JOINT VENTURES


Beeyu forms joint venture with Fern Tea for Sri Lanka foray
BEEYU Overseas Ltd, in a joint venture with Fern Tea Company of Sri Lanka, has bid for lease of four tea factories and 2,000 heactres of plantation in Sri Lanka. Fern Tea will hold a majority 51 per cent stake in the joint venture. The bids will ... More

Novo Nordisk, Aurigene in drug discovery pact
DIABETES care major Novo Nordisk A/S of Denmark and Aurigene Discovery Technologies Ltd of Bangalore have announced a two-year discovery collaboration in metabolic disorders. The pact covers joint discovery on a target and pre-clinical ... More

EVENTS


`Indian firms must compete with MNCs in global market'
THE Chairman and CEO of Karnataka Bank, Mr Ananthakrishna, has urged Indian companies to compete with MNCs in the world market. Inaugurating Magma 2005, a one-day management festival at the Srinivasa College of Postgraduate Management Studies, ... More

DIVERSIFICATION


The growing interest
A WIDE range of companies, private and public sector, and NGOs are interested in biofuel related projects particularly, jatropha cultivation. Here is a sample list of some companies that have evinced interest in biofuels. D1 Mohan Bio ... More

SICK UNITS


Exit scheme for defunct cos evokes good response
More firms make use of the scheme's extension till August

THE gamble of the Ministry of Company Affairs to extend the Simplified Exit Scheme (SES) 2005 by a month seems to have paid off, with the Government receiving a significantly higher number of applications towards the end of the scheme from those ... More

OUTLOOK


Tata Tea chief hints at change in business profile
THE business profile of Tata Tea Ltd will be changing over a period of time, according to Mr P.T. Siganporia, Managing Director. However, he chose not to elaborate on the subject at this point of time. Mr Siganporia was speaking to newspersons ... More

UB charts Rs 100-cr expansion plan — Announces 15 pc interim dividend
UNITED Breweries Ltd will invest over Rs 100 crore in the next five years to capture growing markets across the country. Announcing this at the company's annual general meeting here today, Mr Vijay Mallya, Chairman, UB, was upbeat about both ... More


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Sep. 11-Sep. 17
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