Financial Daily from THE HINDU group of publications
Wednesday, January 18, 2006
Markets (January 17)
BSE Sensex9314.13 (+2.94)
S&P CNX Nifty2829.10 (-4.00)
US Dollar (Buy/Sell)44.32/44.45


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CORPORATE

ANNOUNCEMENTS


Pennar Aluminium assets sale: ARCIL accepts Hindalco offer
HINDALCO Industries Ltd has informed the BSE that Asset Reconstruction Company (India) Ltd (ARCIL) has accepted the company's offer to purchase certain assets of Pennar Aluminium Company. The company said it would buy assets pertaining to ... More

Kamdhenu Cement plans hike in output
KAMDHENU Cement, a unit of reinforced steel manufacturer Kamadhenu Ispat Ltd, plans to hike its cement production by 25 per cent during the next fiscal. The company's annual production, which stands at 1.48 lakh tonnes is slated to go up to ... More

AWARDS & HONOURS


Mirza Tanners wins export award
FOOTWEAR exporter, Mirza International Ltd, has been awarded the Gold Trophy for Overall Exports by the Council Of Leather Exports for the year 2004-2005. The company has also bagged four other awards from the council under as many ... More

AUTOMOBILES


Business deals cross $150 m at auto expo
BEHIND the glamour of the aspirational cars and bikes on display, big business was conducted at the Eight Auto Expo, which came to a close on Tuesday. As per estimates, business deals crossed $150 million at the expo, clocking more than three ... More

HUMAN RESOURCES


Dunlop plans VRS for staff at Sahagunj, Ambattur units
DUNLOP India Ltd has proposed VRS to roughly 1,700 employees out of a total of 4,000 for reopening the two facilities at Sahagunj in West Bengal and Ambattur in Tamil Nadu. The VRS will be given with an understanding that they will be absorbed as ... More

RESTRUCTURING


Hectic trading in Reliance scrip; special trading session today
ON the last day of trading prior to its de-merger, the Reliance Industries (RIL) counter witnessed hectic activity, sending the stock up by more than 6 per cent. The RIL stock on Tuesday closed at Rs 928.15 on the BSE, up Rs 55.05 (6.31 per ... More

Ballarpur Industries mulls revamp
NEW DELHI: Paper major, Ballarpur Industries Ltd (BILT) is planning to undertake several structural changes to the company. These include the acquisition of equity of APR Packaging Ltd (Ashti) with the intent of making it a wholly owned ... More

NEW PROJECTS


Electrosteel expects mining lease for Jharkhand coal project by Sept
ELECTROSTEEL Castings Ltd will soon start work on a Rs 330-crore (including an interest element of Rs 46 crore) captive coal mine project, along with washeries, at Parbatpur coal block in the Jharia belt in Jharkhand, To meet the costs, the ... More

GAIL-BPCL joint venture incorporated for city gas projects
THE joint venture of GAIL (India) Ltd and Bharat Petroleum Corporation Ltd (BPCL) - Maharashtra Natural Gas Ltd (MNGL) - has been incorporated. In a statement issued here on Monday, GAIL said the joint venture company would implement ... More

Malu Paper likely to tap market for Rs 20 crore
MPML has two operational units at Nagpur with kraft paper and newsprint manufacturing capacities of 8,250 tonnes and 19,800 tonnes per annum, respectively. The company is a joint venture of first generation entrepreneurs and all the promoters belong to the Malu family. More

REGULATORY BODIES & RULINGS


Arbitrator to fix share price for Maharashtra Scooters on Jan 31
THE arbitrator appointed by both the joint venture partners of Maharashtra Scooters Ltd (MSL) — Western Maharashtra Development Corporation (WMDC) and Bajaj Auto — will announce on January 31 the price for MSL share, proposed to be ... More

TRADE & LABOUR UNIONS


Commissioner sends report to State Govt on Toyota stir
THE Labour Commissioner is learnt to have sent a report to the Karnataka Government on the issue of the Toyota-Kirloskar strike. Sources in the Labour Commissioner office said that it is now left to the State Government to take a decision on ... More

DIVERSIFICATION


Patel Engg plans to enter real estate, hydel power — Rs 500-cr funds to be raised
The company is working on acquiring an overseas engineering company with specialisation in civil construction work. More

SICK UNITS


Fund board offers to restructure TCC loan
TO help the State-owned Travancore Cochin Chemicals Ltd (TCC) at nearby Eloor make a turnaround, Kerala Industrial Revitalisation Fund Board (KIRFB) has recommended a reduction in the interest rate on its loan of Rs 47 crore besides raising the ... More

OUTLOOK


Hindustan Motors expects Rs 200-cr revenues from auto components
HINDUSTAN Motors expects around Rs 200 crore in revenues from its newly formed auto component division in two years. The Managing Director, Mr Ravi Santhanam, told newspersons that the auto component division started at its Kolkata factory has ... More

Shell set to revive GSPC gas supply deal
The GSPC Chairman, Mr Balwant Singh, confirmed that a high-level Shell team was meeting the Chief Minister, Mr Narendra Modi, to discuss a "long-term" gas supply deal. More

Essar Steel eyes higher market share for auto-grade products
ESSAR Steel expects a market share of about 18 per cent in hot-rolled and 17 per cent in cold-rolled auto grade steel with the commissioning of its new cold-rolling unit at Hazira, the company said in a release. Its Hazira cold rolling complex ... More


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