Financial Daily from THE HINDU group of publications
Wednesday, October 26, 2005
Markets (October 25)
BSE Sensex7991.74 (+70.94)
S&P CNX Nifty2418.20 (+23.35)
US Dollar (Buy/Sell)45.02/45.15
Gold Std (10 gm)6885 (+25)


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ANNOUNCEMENTS


GM evaluating options for Spark launch — 'Small car crucial for expanding market share'
GENERAL Motors India (GMI) has sewn up plans to launch three more products from the GM stable next year and is considering various options for the launch of its small car Spark in the country. The President and Managing Director of GMI, Mr ... More

Ashok Leyland to hire 100 people for EDS unit
ASHOK Leyland intends to hire around 100 people for its newly formed engineering and design services division. The team will be in place by next year and "that is just to give a shape to it," Mr R. Seshasayee, Managing Director of the company, ... More

K Sera Sera in pact for new film
MUMBAI: K Sera Sera Productions Ltd has informed the BSE that it has entered into an agreement with Sohail Khan Production for producing a movie tentatively titled `Partner', to be directed by David Dhavan, starring Salman Khan, ... More

CORPORATE DISPUTES


Patent battle with J&J — A legal win for Sun Pharma in US generic drug market
"The United States District Court for the Eastern District of Michigan granted Caraco's motion for non-infringement on its generic version of Ultracet." More

OVERSEAS BORROWINGS


Infrastructure cos' ECBs through approval route
THE Reserve Bank of India on Tuesday said that special purpose vehicles (SPVs), or any other entity notified by the central bank, that are set up to finance infrastructure companies and projects would be treated as financial institutions and ECBs ... More

IVRCL plans to revise global offering size upwards to $200 m
IVRCL Infrastructures & Projects Ltd plans to revise upward the size of the proposed global offering. The company has informed the stock exchanges that in supercession of the resolutions passed by the shareholders at the annual general meeting . More

MERGERS & ACQUISITIONS


Goa Carbon board okays merger of Paradeep Carbons
THE board of directors of Goa Carbon Ltd, a subsidiary of Goa-based Dempo Group and manufacturer of calcined petroleum coke (CPC), on Monday approved the merger of Paradeep Carbons Ltd (PCL) — a 100 per cent subsidiary — with the ... More

European co to buy majority stake in Micro Inks for Rs 991 cr
Micro Inks is a relatively newer entrant to the global printing ink market and its activities have up to now been focused on India and North America. More

NEW PROJECTS


Anna group plans expansion at Kizhakkambalam
THE Kerala-based Anna group, manufacturers of aluminium vessels, as part of its expansion programme, will set up an aluminium alloy plant and a readymade garment unit involving a total investment of around Rs 19 crore at nearby ... More

Southern Online plans more bio-diesel trial runs
SOUTHERN Online Bio Technologies Ltd, currently in the process of establishing the country's first commercial scale bio-diesel facility, has decided to conduct trial runs of bio-diesel on more number and varieties of vehicles. As the Andhra ... More

Apollo Hospitals signs MoU for unit in Mauritius
THE Apollo Hospitals Group has signed a memorandum of understanding (MoU) with the Mauritius-based British American Investment (BAI) Company to set up a multi-speciality, 200-bed hospital in Mauritius. A joint venture company would be formed ... More

TCS launches Chennai centre for infrastructure management & BPO
TATA Consultancy Services (TCS) on Tuesday inaugurated its centre in Chennai for providing infrastructure management and business process outsourcing (BPO) services. With about 250,000 sq. ft. of space at an investment of Rs 45 crore, the ... More

Bell Helicopter open to setting up base in India
THE US-based helicopter major, Bell Helicopter, has said that it could set up a manufacturing base in India in case it is able to bag adequate business. Besides, the company is in talks with customers in diverse sectors including medical, ... More

ALLIANCES & JOINT VENTURES


Tatra in pact with Russia's Kamaz for trucks, buses
HEAVY duty truckmaker Tatra Trucks India Ltd is all set to foray into the high volume on-road truck and buses segment and has tied up with Kamaz Incorporated, based in the Russian Federation, for the same. Tatra till now only has a presence in ... More

ENTREPRENEURSHIP


IIM-B course for entrepreneurs to start next month in Bangalore
THE NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), set up at the Indian Institute of Management, Bangalore, is starting its third batch of Management Programme for Entrepreneurial Firms (MPEF) next month. The course offers formal ... More

OUTLOOK


Bill Ford is here; India is right at the top for him
India is right at the top of the list. The market is critical to our plans for building a Ford Motor Company for the 21st century." More

Philips eyes over 50 pc growth in sales volumes
PHILIPS Electronics India Ltd (PEIL) is bullish on the rapidly growing segments of the consumer electronics market such as real flat and large screen TVs, DVDs and home theatres and expects to record a growth of over 50 per cent in its sales ... More

Sakthi Auto Components set to double export shipments
SAKTHI Auto Components Ltd (SACL), a subsidiary of Sakthi Sugars that is engaged in production of safety critical items for the automotive segment, is set to double its shipment from six container loads to 12 from November. The company, located ... More

Ford India expects sales boost with Fiesta launch
FORD India is hopeful of catapulting itself into the `volume spinners' league with its latest offering, the mid-size sedan Fiesta. Retail sales of the new Fiesta, which comes with a 1.6-litre gasoline and 1.4-litre diesel engine, will commence ... More

PERFORMANCE


Tata Motors foresees good growth in sales
THE Reserve Bank's upward revision of GDP growth rate from the earlier 7 per cent to 7-7.5 per cent, industrial production and infrastructure development augur well for the auto industry. "We should see good growth in vehicle sales," Mr ... More

IPCL: Operating margins under pressure
INDIAN Petrochemicals Corporation Ltd's (IPCL) report card reveals a sedate performance over the second quarter. Earnings before extraordinary income and taxes show a growth of 28.69 per cent compared to the same period last year. However, on ... More

PEOPLE


MphasiS' Jerry Rao joins board of Royal Orchid
THE Royal Orchid Hotels Ltd, formerly known as the Baljee Group, announced on Tuesday that Mr Jerry Rao, Founder, CEO and Chairman of MphasiS, has joined its Board of Directors. Mr Rao brings to the board expertise in finance and IT. Mr ... More
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In Depth

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Looking back
Oct. 16-Oct. 22
UK, Australian firms in race to be legal advisors for Iran pipeline project — No response from Indian firms

Staffing cos may soon pip IT firms in job market

Omax Auto set to acquire US firm

More pharma patent litigations in store — Ranbaxy, Dr Reddy's prepare for long battle

NTC case: Maharashtra not to appeal, says CM

Cabinet gives in-principle nod for IBP-IOC merger

Govt chalking out plan for joint overseas bidding by oil PSUs

Reliance group demerger scheme put to vote


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