Financial Daily from THE HINDU group of publications
Thursday, January 05, 2006
Markets (January 5)
BSE Sensex9617.74 (-30.34)
S&P CNX Nifty2899.85 (-4.55)
US Dollar (Buy/Sell)44.64/44.78


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ANNOUNCEMENTS


Anglo-French Drugs plans to launch pain relievers
NUTRACEUTICALS major Anglo-French Drugs and Industries Ltd has set its sights on pain management. Starting with an umbrella product Kinectine by February and two more in combination in April, the company will come out with a slew of pain ... More

Uma Precision IPO in April; to fund Rs 50-cr expansion
PUNE-based Uma Precision Ltd is to come out with an initial public offering in April to fund its Rs 50-crore expansion plan. Uma Precision, a manufacturer and exporter of precision assemblies, systems and machine parts for the auto and ... More

OVERSEAS BORROWINGS


52 cos tapped ECB route in November
SUZUKI Powertrain India Ltd, Reliance Industries Ltd and Maruti Suzuki Automobiles are some of the companies that raised money overseas through the automatic route in November. A total of 47 companies raised $951.45 million worth external ... More

COMPANY LAW


Companies Bill in Budget session likely
IT may take a while before the new simplified Company Law comes into existence. The Ministry of Company Affairs, which is targeting the Budget Session of the Parliament to introduce the new Companies Bill, does not rule out the possibility of it ... More

RESTRUCTURING


Foods unit sale: Godrej to seek shareholders' nod
MUMBAI: Godrej Industries Ltd has announced that it would seek shareholders' approval for hiving off its foods divisions for Rs 50 crore. The company plans to sell this division to an associate company, as a going concern. It has also ... More

MERGERS & ACQUISITIONS


Godrej's key to growth
Through its acquisition of UKbased FMCG firm Keyline Brands, Godrej leaps into the global market with an enhanced product portfolio. More

Mahindra buys 98.6 pc in UK's Stokes Group — Forging capacity to go up by 36,000 tonnes
MAHINDRA & Mahindra Ltd (M&M) said on Wednesday that it has acquired a 98.6 per cent stake in Stokes Group Ltd from the existing shareholders. Stokes, an unlisted entity, is the largest automotive forgings company in the UK with customers . More

Living Media sells FM radio biz in three metros
LIVING Media Group has sold Radio Today (Mumbai) Broadcasting Ltd, Radio Today (Delhi) Broadcasting Ltd and Radio Today (Calcutta) Broadcasting Ltd to a joint venture between Value Labs, Malaysia's media group - Astro and NDTV News. Industry ... More

NEW PROJECTS


`Oil companies' capex will take a hit due to subsidy burden'
THE capital expenditure plans of oil companies will be hit if the under-recoveries continue but the Government is making the effort and one has to wait and see as to how it resolves the issue, according to Mr S. K. Joshi, Executive Director ... More

OVERSEAS INVESTMENTS


Godrej Hicare to set up overseas subsidiaries
GODREJ Hicare is planning to expand its operations to countries in the SAARC region and the United Arab Emirates by floating its own subsidiaries. Extending its services to countries such as Sri Lanka and Bangladesh, followed by the UAE, the ... More

ALLIANCES & JOINT VENTURES


Assam Company in pact with US firm for Australian oil prospect
A FORTNIGHT ago, the Kolkata-based Assam Company signed a memorandum of agreement with the US-based oil company DMS Exploration for a 33.33-per cent working interest for an Australian oil prospect. According to Mr Abhay Chawdhry, CFO of Assam ... More

DIVERSIFICATION


Tata Group keeps biotech on its radar
THE Tata group is keen to explore investment opportunities in biotechnology but has no immediate plans to freeze a decision. The sunrise industry is one of the new areas the group wants to add to its portfolio of businesses. Telecom services ... More

Priyagold forays into juices; sets up unit in Noida
DELHI NCR-based Surya Foods and Agro Ltd, manufacturers of Priyagold biscuits, has forayed into the juices segment. It has set up a state-of-the-art manufacturing facility in Greater Noida with an investment of Rs 25 crore. The plant has a ... More

OUTLOOK


Macneill Engg to work on double shift to meet demand
BUOYED by the growing demand for spark-free forklift trucks, after the implementation of the Zone 22 regulation, Macneill Engineering Ltd will work on double shifts from the next financial year. The forklift trucks and material handling ... More

PERFORMANCE


Tata Motors sales up 11.4 pc in Dec
TATA Motors reported 11.4 per cent increase in the total number of vehicles sold in December 2005 at 35,598 units from the corresponding previous period's 31,951 units. This includes exports. Domestic sale of commercial vehicles was up 1.4 per ... More

Tata Steel output rises
MUMBAI: Tata Steel recorded a 9 per cent increase in the production of saleable steel at 1.14 million tonnes for the quarter ended December 31, 2005. The steel major also registered a 13 per cent rise in production of hot metal at 1.25 ... More


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