Financial Daily from THE HINDU group of publications
Tuesday, January 17, 2006
Markets (January 16)
BSE Sensex9311.19 (-63.00)
S&P CNX Nifty2833.10 (-17.45)
US Dollar (Buy/Sell)44.16/44.29


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ANNOUNCEMENTS


Praj Ind bags contracts from Bajaj Hindustan
THE Pune-based Praj Industries, which specialises in ethanol technology, has bagged three contracts for the supply of technology, plant and equipment from sugar manufacturer Bajaj Hindustan. A company statement said here on Monday that once ... More

Delphi-TVS to make common rail diesel injection systems
DELPHI-TVS Diesel Systems, a major supplier of rotary diesel fuel injection systems for passenger cars, will invest Rs 500 crore to manufacture common rail fuel injection systems and set up a technical centre for carrying out product development ... More

Godrej ships out reactors for US refinery
GODREJ & Boyce Mfg Co Ltd said in a press release on Monday that its process equipment division has shipped out three thick walled reactors and two separators for the US based St Charles Refinery of the Valero Refining Company. These reactors, .. More

KLG Systel deploys power transmission solution in UP
KLG Systel, a technology player in the power sector, has announced the deployment of Rs 21-crore technology solution for managing the transmission and distribution of power in Uttar Pradesh. "The project has been underway for over two years ... More

Cummins to export natural gas engines to South America, Europe
ENGINE maker Cummins India Ltd and Cummins Westport Inc plan to export the B Gas International natural gas engines to locations such as South America, Eastern Europe and South-East Asian nations, according to company official. "We will look at ... More

Cummins arm keen on electrical equipment maintenance biz
The new business will be largely run through the outsourcing model with the company retaining the role of project manager. More

Volvo mulls launching BRT systems in India
HAVING established its market for commuter buses for both city and inter-city transportation, Volvo is keen to explore the possibility of launching its high capacity BRT systems which could reduce the pressure of commuting. Mr Hakan Karlsson, ... More

AUDITING


`IFAC move to improve public confidence in financial reporting pays'
THE International Federation of Accountants (IFAC) President, Mr Graham Ward, has said that public confidence in the financial reporting process, that had taken a plunge in the wake of Enron and other corporate scandals, has "improved ... More

INSIGHT


Tax advantage for recent buyers of Reliance shares — Stiff tax liability for short-term sale of RIL stock
THE shareholders of Reliance Industries, who bought the stock before the record date, may be able to book a capital loss on sale of their investments, if the company's public notice in newspapers on Monday is anything to go by. Capital loss ... More

HUMAN RESOURCES


Toyota refuses to keep staff dismissal in abeyance
TOYOTA Kirloskar Motor Ltd (TKML) today rejected the suggestion of keeping the dismissal of three employees in abeyance as a condition for resuming work in the strike-hit Bidadi plant. The decision came after the TKML had meeting with the ... More

MERGERS & ACQUISITIONS


Reliance to pick up 25% equity in Yemen refinery
RELIANCE Industries Ltd will be picking up 25 per cent equity stake in a greenfield refinery in Yemen. Reliance is expected to invest $33.78 million (about Rs 149 crore) in the $450-million refinery project. According to sources close to the ... More

ABG Shipyard to buy Fujairah unit
THE board of directors of ABG Shipyard Ltd, which met on Monday, has decided to acquire a ship repair facility at Fujairah, the United Arab Emirates (UAE). This is part of the company's plans to foray into the ship repair market in the UAE and ... More

NEW PROJECTS


Tribals displaced by Tata Steel project — Orissa Govt to announce revised rehabilitation package soon
THE revised compensation and rehabilitation package for villagers at Kalinga Nagar in Orissa affected by the setting up of an integrated steel-cum-iron ore mining project of the Tata Group will be announced within a month. This was indicated here ... More

RINL to advertise fresh EoI for Rs 4,346-cr debt
RASHTRIYA Ispat Nigam Ltd (RINL), which runs the Vizag Steel Plant, will soon advertise for a fresh EoI (expression of interest) for Rs 4,346 crore worth of debt for funding its proposed expansion plan. According to Mr Y. Siva Sagar Rao, ... More

REGULATORY BODIES & RULINGS


Cos planning IPOs: `SEBI can crosscheck records of RoCs'
THE Ministry of Company Affairs has suggested to the capital market regulator Securities and Exchange Board of India (SEBI) that it could crosscheck the records of the companies wanting to float an initial public offer (IPO) with the Registrar of ... More

ALLIANCES & JOINT VENTURES


NCDEX spot gas trading being held up by delay in GAIL board approval
DELAY in securing a formal approval by GAIL (India) Ltd from its board of directors is holding up National Commodity and Derivatives Exchange Ltd (NCDEX) from launching spot trading in natural gas. GAIL had earlier entered into an agreement ... More

FXLabs in pact with Archie Comics
FXLabs Studios has announced it has signed an exclusive agreement with Archie Comics Entertainment for the development of a videogame based on the Archie universe. Under the working title "Archie's Riverdale Run', the FXLabs team has begun the ... More

OUTLOOK


TI to use new tech for auto components biz
A ready application for this technology is in making doorframes for cars, in which area TI is already the market leader. More

Maruti Suzuki plans to set up a complete design centre in India
MARUTI Suzuki is planning to set up a complete automobile design centre in India in a few years which will also be the second biggest in Asia. Sources close to the company told Business Line that the design centre will be part of the R & ... More


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Base import prices cut for crude palm, soyabean oils

Committee asks SEBI to place depositories, DPs on high alert — Bank of Baroda, Andhra Bank follow-on offers

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`Ultra-mega' power plants — Generation cost to be under Rs 2 per unit

Tax advantage for recent buyers of Reliance shares — Stiff tax liability for short-term sale of RIL stock

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In Depth

Gender Justice
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Looking back
Jan. 8-Jan. 14
ONGC to go for best exploration practices

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Reliance demands compensation for selling petro products below cost price

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Tata-Fiat alliance agrees to leverage mutual strengths

Gokuldas Images sells 16 pc stake to IL&FS — Major expansion in Weekender proposed

Volvo may bag another order for 25 buses


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