Financial Daily from THE HINDU group of publications
Saturday, January 07, 2006
Markets (January 6)
BSE Sensex9640.29 (+22.55)
S&P CNX Nifty2914 (+14.15)
US Dollar (Buy/Sell)44.53/69.78


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CORPORATE

ANNOUNCEMENTS


SSI in takeover mode
CHENNAI: SSI Ltd has informed the stock exchange of a meeting of the board of directors of the company that will be held on January 9 to consider various investment opportunities in other bodies corporate to augment the company's ... More

Lupin looking to strengthen paediatric product basket in US
Suprax is being promoted through paediatricians and Lupin is looking to build on its strengths through in-licensing products from other companies in the same segment. More

Michelin's `radial' plans hinge on demand
TYRE manufacturer Michelin on Friday said that while its plan to manufacture a range of tyres in collaboration with Apollo Tyres is still on track, the company would wait for the country's slow adoption of radial tyres to gather speed, before it ... More

Lenovo clarifies
PC vendor Lenovo has clarified that actress Bipasha Basu is not endorsing Lenovo's product portfolio as stated in these columns on January 2. The character she plays in the movie Corporate will be `using' a Lenovo product. Ms Bipasha Basu ... More

OVERSEAS BORROWINGS


NCC allots shares under GDR green shoe
NAGARJUNA Construction Company Ltd (NCC) has informed the stock exchanges that the executive committee of its board of directors at its meeting held on Thursday has accorded approval for allotment of 29.35 lakh equity shares underlying the global ... More

MERGERS & ACQUISITIONS


Nelco now subsidiary of Tata Power
NELCO Ltd has become a subsidiary of Tata Power Company, following the acquisition of 50,000 equity shares of Nelco by Af-Taab Investment Company, a wholly-owned subsidiary of Tata Power. This is according to a notice sent to the stock ... More

Nelco stock dips
DESPITE announcements during market hours that Nelco had become of subsidiary of Tata Power through a stake acquisition, the stock dipped on the back of gains in the previous three trading sessions. The stock has gained about 210 per cent since ... More

CORPORATE GOVERNANCE


SEBI hopes to get full picture on Clause 49 compliance in 15 days
THE Securities and Exchange Board of India (SEBI) expects to get a precise picture in the next 15 days of the extent of corporate India's compliance with regard to the revised Clause 49 of the listing agreement that came into effect from January ... More

NEW PROJECTS


Bluplast on expansion mode
MUMBAI: Bluplast Industries, manufacturer of injection moulded household products is embarking on a capacity expansion project with a total outlay of Rs 32.48 crore. Its manufacturing plant at Daman is also setting up a facility to ... More

Adidas' Apache to set up Rs 500-cr facility in AP
APACHE Footwear Ltd, an authorised manufacturer of the `Adidas' sports shoes having two facilities in China, has decided to set up a manufacturing facility at Nellore in Andhra Pradesh involving an investment of Rs 500 crore. The proposed ... More

TRADE & LABOUR UNIONS


Strike at AP Paper Mills unit
ANDHRA Pradesh Paper Mills Ltd has informed the stock exchanges that the workmen of the company's unit-CP located at M.R. Palem in East Godavari district of Andhra Pradesh have gone on strike from January 5 even after entering into a settlement ... More

ALLIANCES & JOINT VENTURES


Jaypee, Shree Cement, Birla Corpn in fray for SAIL's Bhilai venture
STEEL Authority of India Ltd (SAIL) is likely to choose one of three leading cement companies — Jaypee Cement, Shree Cement and Birla Corporation — for its proposed joint venture unit at Bhilai. Sources in SAIL said that the three ... More

GVK Bio, Dai-Ichi form jt venture
GVK Biosciences Pvt Ltd announced that it has joined hands with Dai-Ichi Karkaria, a speciality chemicals manufacturer, to set up a joint venture company - Inogent Laboratories Pvt Ltd. Dai-Ichi Karkaria's pharma business unit in Hyderabad ... More

Shasun ties up with French pharma co
SHASUN Chemicals and Drugs on Friday announced that it had signed a letter of intent with the Rhodia Group of France to acquire the pharmaceutical customs synthesis business of Rhodia Pharma Solutions. The proposed transaction includes ... More

DIVERSIFICATION


Sona group to diversify into car rental, leasing biz
THE Sona group, a leading automobile components maker, is all set to foray into the car rentals and leasing domain through a new division called Sona Mobility Services. The group has tied up with SIXT, one of Europe's largest firms in the car ... More

OUTLOOK


Falcon Marine Exports poised for growth
DESPITE setbacks like the tsunami, eroding value of the dollar, anti-dumping duties, and plunging value of shrimp in the US markets, Falcon Marine Exports is poised to register growth in turnover and profits this year. The company is a leading ... More

PEOPLE


Keki Dadiseth to join Goldman Sachs
NEW DELHI: Goldman Sachs on Friday announced the appointment of Mr Keki Dadiseth as an international advisor. Mr Dadiseth will advice the firm on public policy and economic issues in India. Mr Dadiseth recently retired from the board ... More
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