Financial Daily from THE HINDU group of publications
Thursday, November 03, 2005
Markets (November 02)
BL 2502268.63 (+25.78)
BSE Sensex8072.75(+128.65)
S&P CNX Nifty2419.05 (+32.30)
US Dollar (Buy/Sell)45.18/45.32


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CORPORATE

ANNOUNCEMENTS


Natco Pharma gets USFDA nod for facility
NATCO Pharma Ltd has announced that it has obtained the approval of the USFDA for its finished dosages formulations facility located at Kothur in Mahaboobnagar district of Andhra Pradesh. In a press release here on Monday, the company said the ... More

Aurobindo drug gets UK nod
HYDERABAD: Aurobindo Pharma Ltd (APL) has announced that it has received the marketing authorisation approval from the UK MHRA (United Kingdom Medicines and Healthcare products Regulatory Agency) for Sertraline 50mg and 100mg tablets ... More

PRIVATE PLACEMENT


Phillips Carbon may opt for pvt placement to FIIs
PHILLIPS Carbon Black Ltd (PCBL), an RPG Group company, may drop its earlier plan of a foreign currency convertible bonds (FCCB) issue and opt for a private placement to one or two foreign institutional investors. According to sources in the ... More

PREFERENTIAL ALLOTMENTS


HBL Nife pref allotment
HYDERABAD: HBL Nife Power Systems Ltd has informed the stock exchanges that its board of directors at its meeting held on October 28 had allotted 20-lakh equity shares on preferential basis. ... More

OVERSEAS BORROWINGS


Marg Constructions plans FCCB issue
MARG Constructions Ltd plans to raise fresh funds with the issue of foreign currency convertible bonds and has appointed Deloitte Haskins & Sells to carry out the due diligence. Mr G.R.K. Reddy, Managing Director, Marg Constructions, told ... More

IVRCL to raise $140 m
HYDERABAD: IVRCL Infrastructures and Projects Ltd has decided to raise $140 million as against the earlier plan of $200 million keeping in view the prevailing market conditions and also the new guidelines on pricing of global offerings. ... More

COMPANY LAW


Govt releases concept paper on limited liability partnership law
THE Ministry of Company Affairs has released a concept paper on limited liability partnership (LLP) law. The paper has proposed LLP as a body corporate and separate legal entity under a new law. The paper does not restrict the LLP form to the ... More

FINANCIAL PERFORMANCE


Amrit Banaspati sales, profit rises
NEW DELHI: Amrit Banaspati Company has registered a net profit of Rs 3.13 crore for the quarter ended September 30 (Rs 0.7 crore). The net sales were up at Rs 112.85 crore (Rs 111.75 crore). The first half net profit was at Rs 6.82 crore ... More

MERGERS & ACQUISITIONS


Apollo may take over Kakinada hospital
CHENNAI: Apollo Hospitals Enterprise Ltd is likely to take over a 100-bed hospital based in Kakinada, Andhra Pradesh, which is now owned by another company, but managed by Apollo. Apollo Samudra Hospital is owned by an unlisted company ... More

IOC may make presentation to Oil Ministry on IBP merger
IOC is to make a fresh presentation before the Petroleum Ministry on the proposed merger of IBP Co Ltd with itself. Though the Union Cabinet had given its in-principle nod for the merger, it had expressed reservations on the proposed swap ... More

Radico Khaitan appoints advisors for acquisitions
LIQUOR major Radico Khaitan Ltd has appointed Rabo India Securities Ltd as an advisor for acquisitions and Kotak Mahindra Capital Co to advise it on selling shares. Rabo India will advise the company on "suitable domestic and international ... More

NEW PROJECTS


Rockwell Automation to set up business centre in Singapore
ROCKWELL Automation, a US-based provider of industrial automation power, control, information systems and services, will be setting up an Asia-Pacific business centre in Singapore. The centre, which is expected to be fully operational by 2008, ... More

ALLIANCES & JOINT VENTURES


Security Group ties up with US co
THE Chennai-based Security Group, providers of security and security-related services, has entered a joint venture with the US-based Trojan Securities International, also a security solutions provider. The new company will be called Trojan ... More

Shanthi Gears signs supply pacts with GE, Atlas Copco
COIMBATORE-based Shanthi Gears Ltd (SGL), a prominent manufacturer of industrial gears, has signed a memorandum of understanding (MoU) with General Electric for the supply of speciality marine gear boxes. It has also entered into a supply ... More

Coromandel Fert JV in Tunisia
HYDERABAD: Coromandel Fertilisers Ltd (CFL), part of the Murugappa Group, has informed stock exchanges that it has entered into a memorandum of understanding (MoU) with Groupe Chimique Tunisien (GCT) and Compagnie des Phosphates de Gafsa ... More

OUTLOOK


Australia's Croker mulls joint venture in India
AUSTRALIAN rowing equipment maker Croker Oars is exploring the option of a joint venture in India to outsource components in addition to tapping the potential market. Though the $3.1-million specialist sports goods firm has a modest market of ... More

BMW's Chennai plant to roll out 3 and 5 Series
"The Indian market offers significant growth potential in the long term." More

Ranbaxy hopeful of launching cholesterol drug next year
RANBAXY Laboratories Ltd is hopeful of launching the 80 mg dosage form of Bristol-Myers Squibb's Pravachol (pravastatin) on a 180-day exclusive basis some time next year. Besides, it will also pursue its litigation against the US Food and Drug ... More

PERFORMANCE


StaR revs up TVS Motor's motorcycle sales in Oct
TVS Motor Company has announced that it sold 85,463 motorcycles in October, up 14 per cent over the same month last year. "Due to production capacity constraints, the company was unable to supply more vehicles to augment further growth in ... More

PEOPLE


New GAIL Director (Finance)
NEW DELHI: Mr R.K. Goel has taken over as Director (Finance) of GAIL (India) Ltd. In a statement issued here on Wednesday, the company said the incumbent has been Executive Director (Finance) in GAIL since April 2003. ... More
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In Depth

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Oct. 23-Oct. 29
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