Financial Daily from THE HINDU group of publications
Saturday, September 24, 2005
Markets (Sept 23)
BL 2502318.93 (+5.13)
BSE Sensex8222.59 (+0.95)
S&P CNX Nifty2477.75 (+1.25)
US Dollar (Buy/Sell)43.88/44
Gold Std (10 gm)6645 (-105)


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ANNOUNCEMENTS


ONGC to barcode all its assets — `First of its kind in non-retail sector'
Barcoding would ensure faster data capture, saving time and costs. It would also prevent the wrong issue of material. Mumbai, Sept. 23 OIL & Natural Gas Corporation (ONGC) is finalising a project for barcoding every item of ... More

Bal Pharma not to sell Pune unit for now
BAL Pharma Ltd has informed BSE that the board has decided not to sell the Pune unit as negotiations with the intended buyer were not fruitful. Bal was negotiating a Rs 5-crore deal with Mumbai-based Sunways India. The two could not agree ... More

Five cos participate in GAIL's pre-bid meet for technical advisors
Five companies participated in the pre-bid meet called by GAIL (India) Ltd for the appointment of technical consultants to undertake pre-feasibility study for the Iran-Pakistan-India (IPI) pipeline project. The companies that participated in ... More

Simplex bags Rs 260-cr project from NHAI
NEW DELHI: Simplex Concrete Piles (I) Ltd has secured a project worth Rs 260 crore from the National Highway Authority of India (NHAI) for execution and completion of Lucknow-Muzaffarpur National Highway Project, said a release. ... More

ENVIRONMENT


PwC India advising over 130 potential carbon credit projects
PRICEWATERHOUSECOOPERS (PwC) India is currently advising more than 130 potential clean development mechanism (CDM) projects that can sell carbon credits. The projects are at various stages of development - from conceptual to ... More

Shree Renuka Sugars registered as CDM project
Clean development mechanism promotes green house gas reducing projects in developing countries. More

MERGERS & ACQUISITIONS


M&As open up market for interim management solutions
THE increasing number of mergers and acquisitions and foreign investment in India will open opportunities for offering interim management solutions in the country. "We are expecting more and more opportunities in this niche high-value segment ... More

NEW PROJECTS


RIL to complete Jamnagar refinery expansion by 2009
RELIANCE Industries Ltd (RIL) will invest about $ 5.7 billion to raise capacity of its Jamnagar refinery to 60 million tonnes by 2009. "The expansion would be completed sometime in 2008-09 financial year," Mr P.M.S. Prasad, President and ... More

Bajaj Auto's Indonesian unit may go on stream next year
TWO-wheeler maker Bajaj Auto's foray into the Indonesian market is set to take shape soon with production at its proposedunit expected to commence by early next year. "The unit is expected to commence production sometime in the first half of ... More

NLC may set up power plant in Gujarat
NEYVELI Lignite Corporation (NLC) is likely to accept an invitation by the Gujarat Government to put up a 1,000-MW lignite-based plant in the State, the company's Director-Power, Mr V. Sethuraman, told newspersons on Friday. Gujarat, then, is ... More

ALLIANCES & JOINT VENTURES


Matrix to form joint venture with S.A.'s Aspen Pharma
MATRIX Laboratories Ltd, Hyderabad, and Aspen Pharmacare Holdings Ltd, South Africa, today executed agreements for a long-term business relationship through the joint venture route. Consequently, Matrix will transfer one of its active ... More

ONGC-Mittal venture may be registered in Cyprus
IS Cyprus becoming the next most favoured nation for registering a company, after Mauritius? To enjoy the tax benefits, several European companies are reported to have registered in Cyprus, and then doing business from Singapore and other ... More

SOCIETY & DEVELOPMENT


Wipro SafeLite campaign to cover 40,000 students
THE SafeLite Campaign of Wipro Consumer Care plans to cover about two lakh students providing eye care advice in the South. Of them, 40,000 would be in Andhra Pradesh. Under this, Wipro is running a free eye camp across Andhra Pradesh. ... More

DIVERSIFICATION


GHCL plans foray into home textile market thro' brand acquisition
GHCL Ltd, which has just raised $70 million through a foreign currency convertible bonds (FCCB) this week, is planning to enter the branded home textile market through overseas acquisitions. The company is investing around Rs 230 crore in the ... More

Avestagen to enter health food business
AVESTAGEN Good Earth Foods, the new subsidiary of biotechnology company Avestha Gengraine Technologies, will soon foray into foods for health. AGEF will soon add new products to the existing mueslis and crackers and extend its sales and ... More

RIGHTS ISSUE


Ceat to raise Rs 52.7 cr through rights issue; to merge subsidiaries
CEAT Ltd proposes to raise Rs 52.7 crore through a rights issue in the ratio of three shares for every 10 shares held. The issue has been priced at Rs 50 per share, which is at a discount of about 45 per cent to Thursday's closing price for ... More

OUTLOOK


BPCL hopeful of improving margins with capacity expansion
BHARAT Petroleum Corporation Ltd is looking to improve its gross refinery margins by further raising the heavy-sour crude percentage at its Mumbai refinery. The company has completed a Rs 1,800-crore capacity expansion of its Mumbai refinery ... More

NTPC to become 66,000-MW `integrated energy utility' by 2017
THE state-run National Thermal Power Corporation has said it is targeting an installed capacity of 66,000 MW by 2017 and plans to become an integrated energy utility with forays into nuclear generation, coal mining and gas exploration. "We ... More

Toyota expects to sell 54,000 vehicles — Launches upgraded Cororalla
TOYOTA Kirloskar Motor Ltd (TKML) said on Friday that it aims to sell 54,000 vehicles this year, even as it is evaluating options, including setting up a new plant, to increase capacity. "With Innova remaining our growth driver, we expect to ... More

No more reckless spending, Mallya assures McDowell shareholders
THE Chairman of McDowell & Co, Mr Vijay Mallya, has assured shareholders at the sixth annual general meeting that there would be `no more mindless and reckless spending'. Mr Mallya was referring to the increased advertising and promotion ... More


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Top Stories
Truck rentals move up 4-5 pc on trunk routes


`Case for marginal hike in deposit rates'

`Indians want mobiles with longer battery life' — Study undertaken to uncover consumer demands from mobile devices in future

Inflation up 3.53 pc due to higher fuel, food prices

PwC India advising over 130 potential carbon credit projects

Edible oils turn bearish on imports, better crop

In Focus

Stock splits
India Inc's bonus bonanza
The Yuan Revaluation
Dabhol power regenerated
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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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

Flextronics to set up Rs 450-cr facility in TN

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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