Financial Daily from THE HINDU group of publications
Wednesday, January 04, 2006
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ANNOUNCEMENTS


ITC to invest $1 b in e-Choupal infrastructure
AIMED at turning more rural communities into vibrant economic organisations, ITC Ltd is planning to invest around $1 billion in strengthening its e-Choupal infrastructure in the next 7-10 years, its Chairman, Mr Y.C. Deveshwar, announced here on ... More

Toyota sells 32,000 units of Innova in 2005
TOYOTA Kirloskar said on Tuesday that it sold 32,000 units of Innova between March 2005 and December 2005 and expects to sell 40,000 units of the car during this calendar year. A Toyota Kirloskar press statement said that India's first ... More

Aurobindo HIV drug gets USFDA nod
AUROBINDO Pharma Ltd has announced that the United States Food and Drug Administration (USFDA) has granted tentative approval for the company's Nevirapine oral suspension in the 50 mg/5 ml forms. It is indicated for use by paediatric patients ... More

Shell LNG terminal loses only customer
"We certainly have had difficulty in convincing the Indian customer that our prices are globally competitive. That is unfortunate as LNG is at a discount to liquid fuels that are still being used by certain consumers," said Mr Vikram Singh Mehta, Cha irman. More

Mazda bags Rs 4.3-cr order from Siemens
ENGINEERING goods company Mazda Ltd has bagged an order of Rs 4.3 crore from Siemens. Mazda will supply steam jet ejectors, heaters, condensers, control valves and turbine bypass valves to Siemens, the company said here on Tuesday. Mazda has ... More

PREFERENTIAL ALLOTMENTS


Igarashi Motors to make pref offer at Rs 214 a share
IGARASHI Motors proposes to issues 11.25 lakh shares to two companies — T Rowe Price International based in Hong Kong and Lloyd George Investment Management (Bermuda) Ltd - at Rs 214 a share. A notice to shareholders from the company ... More

RESTRUCTURING


7.5:100 swap ratio proposed for REVL merger with REL
THE swap ratio for the merger of Reliance Energy Ventures Ltd (REVL) with Reliance Energy Ltd (REL) has been proposed at 7.5 equity shares of REL for every 100 shares of REVL. Both shares are of face value of Rs 10 each. The share exchange ... More

MERGERS & ACQUISITIONS


Total value of M&A, PE deals in 2005 at $18.2 b
Mergers and acquisitions (M&A) are fast becoming a norm with India Inc. In fact, there were a total of 467 deals struck in 2005 as compared to about 360 in 2004. Of these, 343 were M&A deals and 124 private equity (PE) ones. According to a More

NEW PROJECTS


Kerala Minerals to produce titanium sponge for ISRO
THE Kerala Minerals and Metals Ltd (KMML) will set up a titanium sponge-manufacturing unit exclusively for the Indian Space Research Organisation (ISRO) at a total cost of Rs 100 crore. The unit is probably the first of its kind in the country ... More

Royal Orchid plans IPO to fund expansion
ROYAL Orchid Hotels Ltd (ROHL), a hospitality chain, will be raising Rs 102-122 crore from the capital market to fund its expansion plans, which include the setting up of two hotels in Pune and Hyderabad. The initial public offering will ... More

OVERSEAS INVESTMENTS


Africa promises bed of roses for floriculture sector
THE Dark Continent is beckoning Indian hi-tech floriculturists who are making a beeline to set up shop there. The focus is initially on Ethiopia in North Africa. The reason? Proximity to main consuming markets such as Europe and West Asia, ... More

D S Kulkarni to develop building projects in US
THE D S Kulkarni group, a major player in the construction sector, has entered the US market for developing projects in New Jersey and New York. The group, which has set up an office in New Jersey, is keen to tap the potential of what it feels ... More

DIVERSIFICATION


Eveready Ind forays into mosquito repellent market
THE mosquito repellent coil market on Tuesday witnessed the entrance of another major player - the city-based Eveready Industries India Ltd, through its newly launched `Eveready Poweron'. The product was soft launched in the city today for ... More

OUTLOOK


Henkel Spic eyes Rs 430-cr turnover
HENKEL Spic India Ltd, a subsidiary of Henkel KgaA of Germany, is hoping to clock a turnover of Rs 420-430 crore for the year ended December 2005. The company achieved a turnover of Rs 330 crore in the same period of the earlier year. Growing ... More

Tatas working on new LCV; production likely from Jan 2007
INDIA'S largest commercial vehicle manufacturer Tata Motors is powering up its commercial vehicles business and is right now in the process of developing a light commercial vehicle, which is expected to build on the success of its Ace model that ... More

ONGC facing problems in Sunderbans — Unable to find sites for 3 wells
"The problem is double-edged. On the one hand, we have our own preferences on location of the wells, based on geo-physical findings. On other hand, the rig owner feels that risks are too high and take decisions on the advice of its insurer," an offic ial said. More

BCCL achieves breakeven, set to post Rs 70-cr net this year
FOR the first time since incorporation in 1972, Bharat Coking Coal Ltd (BCCL) has achieved breakeven; during the April-December 2005 period, it earned profit of about Rs 1.66 crore against a loss of about Rs 259 crore in the corresponding period ... More

PERFORMANCE


Eastern Coalfields posts operating profit
EASTERN Coalfields Ltd (ECL) has also joined the league of profit-making subsidiaries of Coal India Ltd (CIL), recording an operational profit of around Rs 43 crore during April-December 2005 against a loss of about Rs 242 crore for the same ... More

Eveready posts 35 pc growth in tea business
THE packet tea business of Eveready Industries India Ltd is likely to register a 35-40 per cent growth in the current financial year, 2005-06, against the previous year. According to Mr Deepak Khaitan, Vice-Chairman and Managing Director of ... More

Hyundai sales up 17.26 pc in 2005
HYUNDAI Motor India registered a combined sale of 2,52,851 vehicles in 2005, an increase of 17.26 per cent over the year 2004. In the domestic market it clocked a growth of 11.83 per cent with 1,56,291 units, while overseas sales grew by 27.2 per ... More

Kerala Minerals achieves record production, turnover
THE Kerala-based Kerala Minerals and Metals Ltd (KMML), the country's only unit that manufactures titanium dioxide pigment rutile grade, has recorded an all-time high production and sales turnover during April-December 2005. The production has ... More


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