Financial Daily from THE HINDU group of publications
Wednesday, September 21, 2005
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ANNOUNCEMENTS


Drilling for coal-bed methane begins at BCCL mine
THE much-awaited drilling for coal-bed methane (CBM) began this week at Moonidih mine in the Jharia coalfields of Bharat Coking Coal Ltd (BCCL) in Jharkhand. Drilling will soon start at another mine at Sudamdih, according to an official ... More

KRL to diversify into natural gas business
KOCHI Refineries Ltd (KRL) was able to export close to 10 per cent of its total refining capacity last year. The refinery exported 7.67 lakh tonnes products worth $213 million during 2004-05, as against 4.84 lakh tonnes worth $94 million in the ... More

Apollo Hospital to introduce non-invasive angiogram
APOLLO Hospital Enterprises Ltd has bought two scan machines for Rs 5 crore apiece for its hospitals in Chennai and New Delhi. The `64 Slice CT angio' scan machines of Toshiba make can pinpoint blocks in the blood vessels of the heart. Using ... More

Reliance Industries to shut down Jamnagar Refinery for maintenance
MUMBAI: Reliance Industries Ltd (RIL) informed the stock exchanges on Tuesday that its Jamnagar refinery will go in for a planned maintenance shutdown of some of its units during the third quarter of 2005-06. The period of shutdown ... More

Nagarjuna Construction bags NHAI order
HYDERABAD: Nagarjuna Construction Company Ltd has announced that it has secured a new order of Rs 253 crore from the National Highways Authority of India for the construction of Lucknow-Muzaffarpur National Highway Project on NH-28 under ... More

Contracts worth Rs 499 cr for Voltas
MUMBAI: Voltas Ltd on Tuesday said it has won two mechanical and electrical contracts worth Rs 499 crore for the Burj Tower in Dubai and Hyderabad International Airport. Voltas's share in Burj Tower is Rs 365 crore. The company jointly ... More

AWARDS & HONOURS


Safety award for JK Paper unit
NEW DELHI: The Central Pulp Mills unit of JK Paper Ltd has bagged the National Safety Award for the year 2004. The award has been given to it for achieving lowest average frequency rate of accidents during the last three years. The ... More

MERGERS & ACQUISITIONS


Newbridge to invest $100 m in Shriram truck finance cos
NEWBRIDGE Capital, a private equity company, will invest $100 million (around Rs 450 crore) in the three companies of the Chennai-based Shriram group that are engaged in truck financing — Shriram Investments, Shriram Transport Finance ... More

Matrix Labs acquires 43% stake in Swiss co Explora
MATRIX Laboratories Ltd (MLL), the Hyderabad-based pharma major, has acquired 43 per cent holding in Explora Laboratories S.A, based in Mendrisio, Switzerland. Explora Laboratories is engaged in the research and development of active ... More

NEW PROJECTS


Tata Steel to start construction of S. Africa plant in Dec
TATA Steel would begin construction of its ferro-chrome plant in South Africa in December and expects to commission it by the end of 2007 or the beginning of 2008, the Managing Director, Mr B. Muthuraman, told newspersons here on Tuesday. ... More

ALLIANCES & JOINT VENTURES


Shringar to launch 21 multiplexes
MUMBAI: Shringar Cinemas Ltd on Tuesday said it has entered into MoUs to launch 14 multiplexes in the next 3 years. This is in addition to the seven new multiplexes the company is expected to open by March 2006 in cities such as ... More

Marg Constructions MoU with Hudco
CHENNAI: THE Chennai-based Marg Constructions Ltd has signed a memorandum of understanding with Hudco (Housing & Urban Development Corporation Ltd) to float a joint venture. Mr G.R.K. Reddy, Managing Director, Marg Constructions, on ... More

EVENTS


Kalam outlines 7-point action plan for auditors
THE President, Mr A.P.J. Abdul Kalam, today came up with a seven-point action plan for the members of the Comptroller and Auditor-General (CAG), with specific emphasis on online near real time audits. Inaugurating the 23rd biennial conference ... More

SOCIETY & DEVELOPMENT


BHEL housing project for staff
THE BHEL employees housing programme of the Hyderabad unit will see the construction of 300 middle income group (MIG) houses. The foundation stone for the Phase-3 of the MIG housing was laid by Mr C.P. Singh, its Executive Director, today. The ... More

RIGHTS ISSUE


Hindalco to raise Rs 2,500 cr from 1:4 rights — Plans to invest Rs 12,000 cr in expansion
HINDALCO Industries Ltd announced on Tuesday that it would be raising Rs 2,500 crore by offering one share for every four held by existing shareholders on a rights basis to partly fund its expansion plan. The board would decide the price per ... More

Priyadarshini Spinning to go for expansion, rights issue
PRIYADARSHINI Spinning Mills Ltd (PSM) has announced a Rs 40-crore modernisation and expansion plan to enhance its spindle capacity to 82,000 from 60,000 spindles. Of the Rs 40 crore, Rs 32 crore would be from loans and Rs 8 crore from ... More

SICK UNITS


Govt releases funds to revive IDPL
IN order to revive the ailing Indian Drugs and Pharmaceuticals Ltd (IDPL), the Government has set aside an initial sum of Rs 5 crore. It has already released Rs 3 crore for upgradation of its three plants located at Rishikesh, Gurgaon and ... More
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In Depth

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Looking back
Sep. 11-Sep. 17
GAIL board to approve Rs 9,750-cr investments in Kerala projects

Consolidation drive seen to continue in tractor industry

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Top moves in two-wheeler cos

GDR, FCCB norms in place — Relief for companies that took `effective steps' before Aug 31

GE Shipping board approves demerger of offshore services


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