The Hindu Business Line : Sunday, December 18, 2005

Bharat Coking Coal to hike production capacity for SAIL's consumption
BHARAT Coking Coal Ltd (BCCL), a financially weak subsidiary of Coal India Ltd (CIL), has agreed to augment coking coal production capacity at its Monidihi underground mine by at least 40 lakh tonnes a year exclusively for Steel Authority of ... More

Kalyani Brakes EGM clears sale of 2-wheeler brake manufacturing unit
THE extraordinary general meeting of Kalyani Brakes has approved the sale of the two-wheeler brake manufacturing facility by postal ballot. According to the notification issued to the Bombay Stock Exchange, an ordinary resolution pursuant to ... More

PREFERENTIAL ALLOTMENTS

Bajaj Auto Finance to raise Rs 321 cr thru pref allotment
BAJAJ Auto Finance Ltd (BAFL) plans to raise Rs 321 crore from a preferential allotment of equity shares and warrants to its promoter and select financial investors. The move is ahead of its proposed rights issue of Rs 900-950 crore, the ratio ... More

COURTS/LEGAL ISSUES

Palkhivala Arbitration Centre to be launched on December 21
THE Arbitration and Conciliation Act 1996 was meant to help settle certain commercial and institutional disputes through arbitrators rather than courts, in order to lessen the burden on the legal system. In an attempt to institutionalise the ... More

IPR

Ranbaxy loses Lipitor case — US court favours Pfizer on `patent infringement'
IN yet another setback to Ranbaxy Laboratories Ltd, the US District Court of Delaware ruled that the generic company's product infringes the two patents covering Pfizer Inc's cholesterol lowering drug, Lipitor. This follows a ruling in October by ... More

CORPORATE BONDS

Deepak Nitrite okays equity issue
PUNE: Deepak Nitrite Ltd has informed the BSE that its board of directors at its meeting held on Friday has approved the issue of 29,91,031 equity shares of Rs 10 each. The issue is subject to the necessary approvals of SEBI, stock ... More

FIXED DEPOSITS

FD OPTIONS
Jindal Steel and Power: Invest in one-year option
Jindal Steel and Power: Investments in the fixed deposit scheme of Jindal Steel and Power can be considered with a one-year perspective. The interest rates offered are 7 per cent for one year, 7.25 per cent for two and 7.5 per cent for ... More

CORPORATE GOVERNANCE

`Institutional investors must watch corporate governance norms'
THE Ministry for Company Affairs on Saturday urged financial institutions to play a major role in making the corporate sector adhere to good corporate governance practice. Speaking at a roundtable on `Role of Institutional Investors in the ... More

NEW PROJECTS

Vedanta board clears $2.1-b aluminium smelter project
On completion, the project would increase Vedanta's total aluminium smelting capacity to 9,00,000 tpa. More

ALLIANCES & JOINT VENTURES

Sethusamudram Corpn, Suez body sign pact
SETHUSAMUDRAM Corporation Ltd (SCL) on Saturday signed a memorandum of understanding (MoU) with the Suez Canal Authority (SCA), Egypt, for cooperation in implementing the Rs 2,427-crore Sethusamudram Ship Canal Project (SSCP). The SCL is a ... More

Zydus Cadila, Bharat Serums to develop new drug delivery system
CADILA Healthcare Ltd (better known as Zydus Cadila) and Bharat Serums and Vaccines have set up a joint venture company to produce a new drug delivery system (NDDS) for an approved anti-cancer product for the global markets. "The 50:50 joint ... More

Coal gasification projects — ONGC may rope in Shell as joint venture partner
Oil and Natural Gas Corporation Ltd may rope in Royal Dutch Shell as a 50:50 joint venture partner for taking up surface coal gasification projects. The companies will enter into a memorandum of agreement on January 17. ONGC has proposed a ... More

Tata Steel plans to set up jt venture company with BCCL
In the joint venture, 100 per cent of the investment would be made by the Tatas, while profit would be shared on a 50:50 basis. More

RIGHTS ISSUE

NCL fixes rights offer ratio
HYDERABAD: NCL Industries Ltd has informed the stock exchanges that its board meeting on Thursday has approved the ratio of rights shares as four shares of Rs 10 each for every five shares held at a premium of Rs 8 per share. The ... More

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