Financial Daily from THE HINDU group of publications
Friday, October 21, 2005
Markets (October 20)
BL 2502248.21 (-23.29)
BSE Sensex7935.12 (-35.94)
S&P CNX Nifty2395.45 (-17.00)
US Dollar (Buy/Sell)45.16/45.29
Gold Std (10 gm)6845 (-85)


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CORPORATE

ANNOUNCEMENTS


FedEx to expand operations in India
FEDEX Corp today said it is expanding its service in India by increasing the number of cargo flights and capacity. "We will add five flights to and from Delhi taking the total to 16," said the FedEx Corp President in Europe, Middle East and ... More

SRL Ranbaxy opens lab in Chennai
SRL Ranbaxy Ltd, which runs a network of pathology laboratories across the country, today opened a lab in Chennai. The lab, extending over 4,500 sq feet on TTK Road in the heart of the city, will offer a range of testing services, from basic ... More

Vikash Metal aims to raise Rs 25 cr from IPO
THE Kolkata-based Vikash Metal & Power Ltd (VMPL) has charted out a Rs 134-crore expansion plan to set up an integrated steel project for manufacturing long-steel products used in the construction and infrastructure sectors. The company will ... More

CORPORATE DISPUTES


Avian flu drug: Who owns the patent?
AS the world watches how Roche supplies its anti-flu medicine Tamiflu to countries faced with the bird-flu problem, a patent twist threatens to add to the existing controversy around the drug and its availability. Gilead Sciences, the ... More

RESTRUCTURING


EID Parry to hive off Parryware
PARRYWARE, a division of EID Parry Ltd, which manufactures ceramic sanitaryware products, is to be hived off as a wholly-owned subsidiary of the company. The idea is to facilitate sale of stake to a "strategic foreign partner". The Rs 200-crore ... More

MERGERS & ACQUISITIONS


Cabinet gives in-principle nod for IBP-IOC merger
THE merger process of IBP Co Ltd with its parent company Indian Oil Corporation (IOC) on Thursday moved a step further with the Union Cabinet giving an in-principle nod for the merger. However, official sources indicated that there were ... More

WestBridge picks up 10 pc stake in Royal Orchid
WESTBRIDGE Capital Partners, the venture capital fund, has picked up nearly 10 per cent equity stake in the Royal Orchid group for Rs 25 crore. The Royal Orchid group plans to go in for a Rs 100-crore IPO in the next couple of months and has ... More

Darashaw & Co picks up 51% stake in Tata Share Registry
AN 80-year old broking and investment banking house Darashaw & Company has acquired 51 per cent stake in Tata Share Registry for an undisclosed amount. Under this new dispensation, Tata Share Registry will soon be called TSR Darashaw Ltd and ... More

NEW PROJECTS


Panama Petrochem to expand capacities
PANAMA Petrochem Ltd (PPL) is implementing a Rs 30-crore capital expenditure programme involving expansion of its production capacities to meet the increasing demand for speciality petroleum products. The expansion involves raising capacities ... More

Salim Group plans Rs 250-cr motorcycle plant in Bengal
AS part of its long-term investment plans for West Bengal, the Salim Group of Indonesia will invest Rs 250 crore in a motorcycle manufacturing facility at Uluberia in adjacent Howrah district. The investment may be ramped up later, if ... More

REGULATORY BODIES & RULINGS


Competition panel to have corporate structure
THE Competition Commission of India (CCI) may soon have a new structure. The Ministry of Company Affairs proposes to give it the shape of a corporate body by doing away with the concept of having benches in the Commission. A senior Company ... More

EVENTS


`Professionals must be ready to face global challenges'
INDIAN professionals should not be averse to meeting challenges arising from external competition, Ms Komal Anand, Secretary, Ministry of Company Affairs (MCA), has said. Delivering the inaugural speech at the 33rd Convention of the Institute ... More

BONUS ANNOUNCEMENTS


Vishal Exports Q2 net up 68%; issues bonus shares
VISHAL Exports Overseas Ltd (VEOL), a four-star export house, has reported a 67.89 per cent rise in net profit to Rs 14.47 crore for the second quarter ended September 30, 2005 compared to Rs 8.62 crore in the corresponding quarter last year. ... More

OUTLOOK


TACO targets $1 b revenue by 2008
TATA Auto Comp Systems Ltd (TACO), a Tata group outfit, has set a target of achieving an annual revenue of $1 billion by 2008 and is scouting for acquisitions in areas where it has no presence. Set up in 1995, the company is now celebrating its ... More

TRENDS


Cos must adapt to global market demands: TCS official
NON-profit organisation Asian Centre for Corporate Governance and the Bangalore Chamber of Industry & Commerce (BCIC) has convened the Director's Power Breakfast Series. This is a platform for top management and board members to share their ... More
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Top Stories
Global benchmarks in manufacturing — Indian arms of MNCs show the way


Black Monday revisited

Crude oil output dips by 7.3% in Sept

Steel cos likely to sustain growth on robust volumes

High margins trigger increase in soya oil imports

Cabinet gives in-principle nod for IBP-IOC merger

Sports channels have to share telefeed with Prasar Bharati — Cabinet clears uplinking, downlinking policy

In Focus

Indian Aviation: Sky is the limit
Stock splits
India Inc's bonus bonanza
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
Oct. 9-Oct. 15
33 pc independent directors on co boards — Govt studying Irani panel proposal

Advantages of duty sops, lower lead-time for exports — Textile cos begin to set up units abroad

Corporate India's fundamentals strong: Crisil

Delhi-Chicago flight — American Airlines ties up with Air Sahara


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