Financial Daily from THE HINDU group of publications
Friday, January 20, 2006
Markets (January 19)
BSE Sensex9449.84(+212.31)
S&P CNX Nifty2870.85 (+61.65)
US Dollar (Buy/Sell)44.31/44.44


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CORPORATE

ANNOUNCEMENTS


ONGC moots new corporate structure
As per the proposal submitted to Petroleum Ministry, the ONGC Chairman will have a Vice-Chairman and Managing Director responsible for the firm's core exploration and production business and a similar set for its overseas businesses (ONGC Videsh Ltd) . More

Dunlop to strike wage pact in Sahagunj next week
THE Ruia group-controlled management in Dunlop India is expecting to strike a wage agreement with labour unions at the Sahagunj facility in West Bengal early next week. This will be followed by a similar exercise at Ambattur in Tamil Nadu. The ... More

ACCOUNTING STANDARDS


IFAC chief stresses need for convergence in accountancy norms
CHARTERED accountancy practices worldwide need to converge on international standards, according to Mr Graham Ward, President of International Federation of Accountants (IFAC). He added that IFAC has been involved in various initiatives in ... More

ACCOUNTANCY


ICAI offers service in IPO issues — Vetting allotment process
THE Institute of Chartered Accountants of India (ICAI), worried at the latest incidents of wrongful allotments of initial public offerings, has proposed to offer its services in vetting the allotment process followed by companies. The fact that ... More

CONSULTING


Salem Steel Plant appoints IIM Calcutta as consultant
IIM Calcutta to help Salem Steel in all aspects - be it pricing of the product, distribution of items or creating a retail chain More

MERGERS & ACQUISITIONS


Pahwa group acquires global rights from Bry-Air Inc
PAHWA group company Bry-Air (Asia) Pvt Ltd, manufacturers of dehumidifiers and industrial air treatment equipment, has said that it has acquired the global business interests and marketing rights from Bry-Air Inc, USA. The acquisition includes ... More

More powers for CCI to evaluate mergers/takeovers
MERGERS, demergers and takeovers that have intent to capture larger market share in any area of economic activity, with ulterior motives attached to such moves, will shortly be critically scrutinised by the Competition Commission of India (CCI) ... More

ITSL acquires 40.79 pc in Sanghi Industries
IDBI Trusteeship Services Ltd (ITSL) has acquired 8,89,21,000 shares of Sanghi Industries Ltd (SIL), aggregating to 40.79 per cent of its total paid-up capital. The company has informed the stock exchanges about the acquisition in the capacity ... More

NEW PROJECTS


Taj GVK Hotels plans Rs 380-cr expansion
TAJ GVK Hotels & Resorts Ltd has announced that it has embarked upon a major expansion programme involving an investment outlay of Rs 380 crore. In a press release here, the company said it is setting up a five-star business hotel in Chennai at . More

CII-ITC Centre of Excellence to come up in Kolkata
ITC Ltd has announced the setting up of another CII-ITC Centre of Excellence at Salt Lake City in Kolkata by the year-end, and land for this has been provided by the West Bengal Government. Revealing this at the CII Partnership Summit 2006, ... More

Reliance Life new campus to have manufacturing facility
The capacity being built is for 10,000 litres of mammalian cell cultures and 1,000 litres of microbial cell cultures for producing recombinant proteins. More

TRADE & LABOUR UNIONS


Strike called off
HYDERABAD: Hyderabad Industries Ltd has informed the stock exchanges that the strike at its Jasidih unit in Jharkhand has been called off and the production resumed today. With reference to the earlier announcement regarding strike, the ... More

ALLIANCES & JOINT VENTURES


ONGC, Shell ink pact for joint exploration
OIL and Natural Gas Corporation (ONGC) on Thursday signed a memorandum of understanding with Shell Exploration Company B.V. for wide ranging co-operation in hydrocarbons value chain. The MoU will cover upstream and downstream activities and ... More
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