Financial Daily from THE HINDU group of publications
Saturday, November 19, 2005
Markets (November 18 15.30 IST )
BSE Sensex8686.65 (+37.13)
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CORPORATE

MODERNISATION


Alloy Steel Plant plans Rs 460-cr upgrade
Alloy Steel Plant (ASP) belonging to Steel Authority of India Ltd (SAIL) is all set to spend Rs 460 crore for upgrading its existing units and installing some new units with appropriate interfacing with the existing ones. In the first phase, ... More

ANNOUNCEMENTS


Branson to unveil `creative business' project next week — Media/entertainment foray likely
SIR Richard Branson of the UK-based Virgin Group seems all set to enter the media/entertainment scene in India. This will be in addition to his already announced intention to foray into telecom and hospitality sectors here. But Sir Richard is ... More

CGH Earth plans expansion
CGH Earth, which operates hotels in Kerala and Lakshwadeep, has chalked outan expansion plan that will take the group outside the State and even see it go global. "We do not want to be identified as a Kerala-based concern. Our aim is to set up ... More

Assam Co completes testing at Amguri 6 well
ASSAM Co has tested oil at its Amguri 6 well where it has been carrying out exploration in association with Canoro Resources. The company, which dates back to 1839, has completed remedial operations and initial testing on a 19-metre interval of ... More

Aurobindo Pharma gets USFDA nod for Amoxicillin
AUROBINDO Pharma Ltd (APL) has announced that the United States Food and Drug Administration (USFDA) has approved its Amoxicillin tablets 500 mg and 875 mg and Amoxicillin capsules 250 mg and 500 mg. In a press release here, APL termed it as ... More

NTPC to set up captive coal mines
AS part of measure to make it less dependent on Coal India Ltd (CIL), National Thermal Power Corporation (NTPC) has decided to set up captive coal mines to produce at least 50 million tonnes (mt) of non-coking coal by 2012 when the corporation ... More

IOC's cost-effective borrowing through e-trading system
INDIAN Oil Corporation Ltd (IndianOil) expects to save close to Rs 2 lakh per day on interest charges alone on its short-term borrowings by logging onto an innovative trading system floated by Clearing Corporation of India Ltd (CCIL). The ... More

Honda Siel rolls out City ZX in Hyderabad
HONDA Siel Cars India Ltd on Friday announced the introduction of its new City VTEC range in Hyderabad and the company has received bookings for over 2000 ZX sedans since its launch earlier this year. The National Sales Manager, Honda Siel, Mr ... More

Mico says stir won't hit CRDi project
AUTO parts major Mico has said that the current strike at its Nashik plant will not hit the common rail project even as the company has "rightsized" its manpower and reduced the capacity at one of the divisions of its Naganathapura plant. Mico ... More

BUYBACK


Indiabulls buyback not to exceed Rs 210
MUMBAI: Indiabulls Financial Services has decided to buy back its equity shares from the open market at a price not exceeding Rs 210 per share. The board of the company has approved the proposal for the buyback to the extent of 10 per ... More

CORPORATE DISPUTES


Inventory completed at Birla House in Kolkata, Allahabad
THE Joint Special Officers, appointed by Justice Mr Kalyan Jyoti Sengupta of the Calcutta High Court in the Probate proceeding pertaining to the will left behind by Priyamvada Birla, filed a report on Thursday, completing the inventory of Birla ... More

AWARDS & HONOURS


Mother Teresa award
CHENNAI: The Loyola Institute of Business Administration (LIBA) has invited nominations for the eighth Mother Teresa Award. The award is given to a corporate which has rendered services to the socially weak and disadvantaged sections of ... More

RESTRUCTURING


Sical completes Rs 118-cr debt swap
Sical had debt of Rs 367 crore on its books as of March 31, 2005. This deal therefore restructures nearly a third of the stock of debt. More

Triveni likely to hive off engg unit
THE Red Herring Prospectus of Triveni Engineering & Industries Ltd for the company's public issue which opened Friday mentions this `risk factor': "We may undertake acquisitions or investments or strategic relationships or divestments in the ... More

MERGERS & ACQUISITIONS


ONGC won't sell its stake in IOC, says Raha
THE Chairman and Managing Director of ONGC, Mr Subir Raha, has said that the company will not sell its stake in Indian Oil Corporation. "I'm not selling. I will hold it as an investment," he told presspersons on the sidelines of the Economic ... More

NEW PROJECTS


Dow Corning to set up manufacturing unit near Pune
DOW Corning Corporationis expanding capacities in India and setting up a manufacturing facility at the Maharashtra Industrial Development Corporation's Ranjangaon industrial area, off Pune. The new plant, scheduled to become operational in ... More

ALLIANCES & JOINT VENTURES


Shalimar Paints ties up with Korean co for pre-coated metal coatings
The company is also setting up a greenfield unit (for decorative and industrial paints) at Hosur, at a cost of Rs 15 crore. More

PEOPLE


Michael Fernandes to head NPIL Custom Manufacturing group
NICHOLAS Piramal India Ltd has appointed Mr Michael J. Fernandes as its Executive Director - Custom Manufacturing Group from December 1. Mr Fernandes will be responsible for NPIL's custom manufacturing (CM) activities and will take over the ... More
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