Financial Daily from THE HINDU group of publications
Tuesday, October 11, 2005
Markets (October 10)
BL 2502415.04 (-17.35)
BSE Sensex8483.86 (-7.70)
S&P CNX Nifty2566.85 (-7.20)
US Dollar (Buy/Sell)44.71/44.84
Gold Std (10 gm)6955 (+80)


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ANNOUNCEMENTS


Marico arm buys toilet soap brand in Bangladesh
MARICO Ltd has informed the BSE that Marico Bangladesh Ltd (MBL), the Bangladesh-based wholly owned subsidiary, has acquired the toilet soap brand "Aromatic" from Aromatic Cosmetics Ltd, another Bangladeshi personal care product company, for an ... More

GAIL draws up tight schedule for Ratnagiri LNG terminal closure
GAIL (India) Ltd today said that it has drawn up a tight schedule for completing Ratnagiri LNG terminal. With the transfer of assets of the erstwhile Dabhol Power Company to Ratnagiri Gas and Power Private Ltd (RGPPL), completion and ... More

Ranbaxy drug gets FDA nod
NEW DELHI: Ranbaxy Laboratories Ltd has received final approval from the US Food and Drug Administration (FDA) to manufacture and market gabapentin capsules used for certain nerve-related disorders. Ranbaxy's formulations are found to ... More

IVRCL bags NHAI orders
HYDERABAD: IVRCL Infr astructures & Projects Ltd has announced that the National Highways Authority of India (NHAI) awarded two packages (TN-6 & TN-7) of National Highway-7 in Tamil Nadu on build, operate and transfer basis. The ... More

OUTSOURCING


Now, small-time manufacturing units join outsourcing party
IN technology or manufacturing excellence, there may not be anything "great" about the plant owned by KRVR Industries of Chennai. A small workshop like place, a few metal presses and a mass of men moving about — all leading to an annual ... More

AWARDS & HONOURS


Award for Biocon CMD
BANGALORE: Ms Kiran Mazumdar-Shaw, CMD of Biocon Ltd, has been honoured with the Corporate Leadership Award 2005 of the American India Foundation (AIF). She was recognised for the leadership role in promoting initiatives to support ... More

COURTS/LEGAL ISSUES


Ennore Port's coal terminal hits legal speed-breaker
THE Rs 350-crore Ennore Port coal terminal has hit a legal speed-breaker. The Madras High Court has ruled that South Indian Corporation Ltd, a consortium leader that was disqualified by Ennore Port in May 2003 from bidding for the 8-million ... More

MERGERS & ACQUISITIONS


Canbank AMC finalises terms to buy GIC Mutual
CANBANK Investment Management Services Ltd (CIMS), the asset management company of Canbank Mutual Fund, has finalised the terms for taking over GIC Mutual Fund. Speaking today at the launch of CanInfrastructure Fund, Mr N.R. Ramanujam, ... More

Yanmar picks up 12 pc stake in International Tractors for Rs 200 cr
INTERNATIONAL Tractors Ltd, manufacturers of the Sonalika brand of tractors, has offloaded 12 per cent equity to Japanese company Yanmar and is in talks to offload a further 10 per cent to a foreign private equity player. Industry sources said ... More

NEW PROJECTS


Pilkington plans to set up subsidiary in India
PILKINGTON United Kingdom Ltd, one of the world's largest manufacturers of glass and glazing products for building, automotive and related technical markets, has now set its sights on India.The company is planning to set up a wholly owned ... More

ALLIANCES & JOINT VENTURES


Dentsu India ties up with Pakistan's Evernew
ADVERTISING agency, Dentsu India, has entered into a partnership deal with Evernew Concepts, the fifth largest advertising agency in Pakistan. With this alliance, Dentsu would be able to access newer markets in the neighbourhood. The ... More

Swiss mint firm enters domestic bullion market
Ties up with Clarity Gold, to set up minting facility at Jaipur

THE Switzerland-based mint major Faude & Huguenin on Monday announced its entry into Indian bullion market through a tie-up with the Mumbai-based Clarity Gold Pvt Ltd. The partners have formed a joint venture company — HF MetalArt Pvt ... More

Emaar, Samsung sign $876-m deal
EMAAR, one of the region's leading real estate developer, has signed a landmark Dh 3.216-billion ($876 million) deal to officially appoint Samsung Corporation as the main contractor for the Burj Dubai, the world's tallest structure. Following ... More

SOCIETY & DEVELOPMENT


`Sight for Kids' programme
SIGHT for Kids', a joint initiative of the Lions Club International Foundation (LCIF), World Health Organization (WHO) and Johnson & Johnson Ltd, which is focussed on elimination of childhood blindness, will be launched in Hyderabad on October .. More

OUTLOOK


BPCL hopeful of rise in gross refining margins
BHARAT Petroleum Corporation Ltd (BPCL) expects a substantial rise in its gross refining margins in the second half of this fiscal. The company has just completed the expansion and techno-economic upgradation programme of its refinery at Mumbai ... More

`Delphi's Indian operations will not be affected'
On the contrary, the company is looking to strengthen its technology centre in Bangalore with an investment of $10 million, which would be primarily used to ramp up the engineering design division. More

PERFORMANCE


Hind Paper offers incentives to dealers
TRAPPED by more-than-normal unsold stock at its mill-end, the state-owned Hindustan Paper Corporation has begun selling common varieties of writing and printing paper offering incentives to its dealers all over the country. The company's move ... More
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Looking back
Oct. 2-Oct. 8
BSNL sends disconnection notice to Tata Tele — SC hearing today on appeal against tribunal order on ADC

`Exit from Michelin joint venture not a setback for Apollo Tyres'

Manpower India, ABC Consultants set up joint venture

Ranbaxy sees big scope in anti-retrovirals

ONGC extends loan to OAO Rosneft for Sakhalin-1 project

GM opts out of bidding for Daewoo

HC restrains DDA from physical possession of Escorts Heart


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