Financial Daily from THE HINDU group of publications
Friday, September 30, 2005
Markets (Sept 29)
BL 2502454.95 (+13.35)
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Gold Std (10 gm)6740 (+90)


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ANNOUNCEMENTS


Yamaha spins off new sales, marketing subsidiary
YAMAHA Motor India on Thursday announced that it has spun off its sales and marketing division to form Yamaha Motor India Sales Ltd. The new entity will be a wholly owned subsidiary of Japan's Yamaha Motor Co Ltd and will focus on domestic ... More

Eveready sells Chennai property for Rs 72 cr
EVEREADY Industries India Ltd has struck a deal with Khivraj Tech Park Pvt Ltd to sell 2.2 lakh sq ft built-up area in a building complex at Guindy near Chennai for Rs 72 crore. According to a letter addressed to bourses, the company stated ... More

Color Chips bags $2.5 million BKN order
COLOR Chips Ltd, an animation solutions provider, has informed the stock exchanges that the company has signed a $2.5-million deal with BKN. The company has announced that it has signed a 13-episode half hour animation television series titled ... More

Dr Reddy's in deal with Danish co for diabetes drug
A DAY after floating the country's first integrated drug development company, Dr Reddy's Laboratories has entered into a co-development and commercialisation agreement with the Denmark-based Rheoscience A/S for joint development and ... More

OVL bags offshore block in Vietnam
ONGC Videsh Ltd (OVL) has been awarded a 100 per cent offshore exploration block as operator in Vietnam. According to a statement issued by the company here on Thursday, OVL has been selected as the winner for Block 127 in Phu Khanh Basin with ... More

J.B. Chem drug gets US nod
MUMBAI: J.B. Chemicals & Pharmaceuticals Ltd (JBCPL) has received regulatory approval to sell the generic version of anti-fungal drug Fluconazole in the US. The company said that it received the US Food and Drug Administration approval ... More

Natco allots shares to Jermyn
HYDERABAD: The committee of Natco Pharma Ltd constituted for the issue of foreign currency convertible bonds (FCCBs) and related matters at its meeting held on Thursday has allotted 72,561 equity shares of Rs 10 each at a conversion price ... More

CORPORATE DISPUTES


The ONGC stand-off — Should PSUs remain govt departments or behave like corporates?
The ONGC imbroglio has provided the premise for a national debate on the relationship between owners and management of PSUs, a debate that had died a somewhat whimpering death when the focus shifted in the mid-1990s to the problems of divestment p er se. More

RESTRUCTURING


Escorts may exit from more jt ventures
POST the sell-off of the Escorts Heart Institute and Research Centre (EHIRC), Escorts Ltd may be looking at divesting from a few more businesses in its portfolio. Industry analysts have pointed out that Escorts may look at selling off its ... More

MERGERS & ACQUISITIONS


Fortis hopes to partner Naresh Trehan in Medicity project
A DAY after buying out the majority stake held by the Escorts group, Fortis Healthcare Ltd hopes to work in collaboration with Chief Surgeon and minority shareholder in Escorts Heart Institute and Research Centre (EHIRC), Dr Naresh Trehan, in ... More

Havell's India to merge Crabtree with itself
HAVELL'S India Ltd is likely to merge its wholly owned subsidiary, Crabtree India, with itself. Confirming this to Business Line, a highly placed source at Havell's said the board of directors would meet next month to consider the ... More

NEW PROJECTS


TCS sets up 4th corporate research lab in Delhi
TATA Consultancy Services (TCS) has set up its fourth corporate research lab here with ten people. They will work on grid computing, collaborative software development and services oriented architecture (SOA) targeted at business requirements ... More

Samkrg plans expansion
HYDERABAD: Samkrg Pistons and Rings Ltd (SPRL) plans to take up a Rs 15 crore expansion during the current fiscal, according to its Chairman and Managing Director, Mr S.D.M. Rao. Addressing the shareholders at the annual general meeting ... More

ALLIANCES & JOINT VENTURES


Ansaldo group co in tie-up with G.B. Engg for power plants
Apart from producing electricity, the plant will also generate enough heat to evaporate seawater in a vacuum vessel, which can be condensed into drinking water. More

DIVERSIFICATION


NTPC firms up oil exploration foray
A CONSORTIUM led by the Rs 26,000-crore NTPC has bagged an oil and gas exploration block in Arunachal Pradesh. NTPC is firming up plans to extract oil from the block for selling it in the spot markets and using the revenue stream to purchase gas ... More

OUTLOOK


NTPC's hydro initiative gathers steam — Projects totalling 4,400 MW on the anvil
FACED with a massive fuel crunch at its thermal stations, the Rs 26,000-crore NTPC Ltd has stepped up its hydroelectric generation initiative, with eight hydel projects totalling 4,442 MW on the anvil. Of these, three projects with a cumulative ... More

Alfa Laval eyes India, China to source material
INDIA, China and Russia are set to become the hotspots for outsourcing of material for Sweden-based Alfa Laval AB. Talking to mediapersons, Mr Tommy Karlsson, Vice-President, Operations, in charge of global purchasing, said about 80 per cent ... More

SPIC hopeful of revision in urea pricing mechanism
THE Chairman of Southern Petrochemical Industries Corporation (SPIC), Mr A.C. Muthiah, on Thursday said that the "inherent anomalies" in the `group pricing scheme' for urea had "impaired the performance and growth of a number of fertiliser ... More

PERFORMANCE


BHEL net up 45 pc, to pay 80 pc
EQUIPMENT major Bharat Heavy Electricals Ltd (BHEL) on Thursday announced a dividend of 80 per cent after posting a 45 per cent growth in net profit at Rs 953 crore during 2004-05. The PSU has notched an all-time high turnover of Rs 10,336 ... More

Dredging Corpn declares 120 pc dividend
DREDGING Corporation of India (DCI) has declared a dividend of 120 per cent (including interim dividend of 40 per cent) for 2004-05, amounting to Rs 38.21 crore inclusive of the dividend tax of Rs 4.61 crore, according to the Chairman and ... More

PEOPLE


PTC reappoints T.N. Thakur as CMD
POWER Trading Corporation India Ltd (PTC) today re-appointed Mr T.N. Thakur as Chairman and Managing Director for another five years. The Board of Directors of the company approved the re-appointment of Mr Thakur and Director (Operations) Mr S.K. ... More

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    Sep. 18-Sep. 24
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