Financial Daily from THE HINDU group of publications
Tuesday, January 24, 2006
Markets (January 23)
BSE Sensex9464.90 (-56.06)
S&P CNX Nifty2884.05 (-16.90)
US Dollar (Buy/Sell)44.16/44.29


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CORPORATE

ANNOUNCEMENTS


PNM Commodities office at Anakapalle
VISAKHAPATNAM: Praneetha & Mahitha Commodities (P) Ltd will formally inaugurate its office at Anakapalle, a major jaggery trading centre in the district, on Jan. 26. The company has been in the market at Anakapalle for the past one year. ... More

Nagarjuna bags SBI order
HYDERABAD: Nagarjuna Construction Company Ltd has announced that it has secured a new order for Rs 54.34-crore from State Bank of India for construction of 186 officers' flats and 12 guest rooms at Nerul Residential Complex in Navi Mumbai. ... More

PREFERENTIAL ALLOTMENTS


Kinetic Motors pref allotment
PUNE: Kinetic Motors recommends a preferential allotment of equity shares to Taiwan-based Sanyang Industry Co Ltd (SYM). The company will issue 20,65,000 shares priced at Rs 66 each worth Rs 13.63 crore as per the SEBI guidelines. This ... More

Avon Organics mulls pref issue
HYDERABAD: Avon Organics Ltd has informed the stock exchanges that a meeting of its board of directors would be held on January 30 to consider preferential issue of 30-lakh equity shares. The board would also consider taking on record ... More

AWARDS & HONOURS


Quality award for Manipal Hospital
BANGALORE'S Manipal Hospital has received the Golden Peacock National Quality Award in the Service category. Manipal Hospital is the first healthcare service provider to win in this segment, according to a press release from the hospital. ... More

CORPORATE BONDS


Vedanta Resources launches $725-m convertible bonds
VEDANTA Resources on Monday announced the launch of $725 million convertible bonds due 2026. Barclays Bank PLC has been granted an option to increase the issue size by an additional $125 million. The bonds will be issued by Vedanta Finance ... More

RESTRUCTURING


EIH board clears restructuring plan
THE board of EIH Ltd, at its meeting in Mumbai on Monday, has cleared, subject to further review, a "composite restructuring" of the company through the merger/de-merger of EIH Ltd and EIH Associated Hotels Ltd. The process is expected to ... More

MERGERS & ACQUISITIONS


Teva-Ivax merger likely to create shifts in pharma sector
THE merger of Israeli drug major, Teva, and the US-based Ivax to create the world's biggest producer of generic or me-too drugs is expected to have its repercussions on a clutch of Indian drug companies. Apart from major plans that Ivax ... More

HLL completes transfer of Doom Dooma to McLeod Russel
HINDUSTAN Lever Ltd (HLL) and McLeod Russel India Ltd (MRIL) on Monday completed the transaction for transfer of HLL's 100 per cent shareholding in Doom Dooma Tea Company Ltd to MRIL. In December 2005, both the companies had entered into a ... More

NEW PROJECTS


Reliance plans Rs 6,000-cr IPO for refinery project — To invest Rs 3,315 cr in retail biz
AFTER nearly 12 years, Reliance Group has announced its plans for another mega IPO to raise Rs 5,000-6,000 crore for part funding its new refinery and petrochemicals project. The Mukesh Ambani controlled Reliance Industries Ltd (RIL) has also ... More

When `red tape' helped Chemplast shareholders
At the current prices of PVC, 170,000 tonnes of resin translates to about Rs 850 crore — additional turnover to the company. Since the project would take two years to complete, Chemplast is expected to become a Rs 2,000-crore company by 2008-09 . More

Manipal AcuNova opens clinical research centre near Bangalore
"This clinical research centre will bring under one roof our key offerings in drug development and research for the pharmaceutical industry." More

TRADE & LABOUR UNIONS


Toyota workers call off strike; want co not to insist on conduct note
TOYOTA Kirloskar Motor's workers union has said that workers will not return to work if the company imposes conditions on them.. A workers' union representative told Business Line that all the workers will report for duty on Tuesday ... More

IPOS


Inox states changes in regulatory framework as risk factor for IPO
INOX Leisure Ltd, which operates a chain of eight multiplexes across seven Indian cities under the `Inox' brand, has cited changes in regulatory framework as an external risk factor for its public issue. "The State and Central Governments ... More

OUTLOOK


ONGC set to start deepwater projects in K-G basin by June
ONGC is expecting its G-1 and GS-15 deepwater field in the Krishna-Godavari basin to start production by June. The initial production will be one million standard cubic metre per day (mmscmd) of natural gas to be enhanced to two mmscmd in 2007. ... More

Media Video plans investments in video games, real estate
MEDIA Video Ltd, a consumer electronics items manufacturer, has planned fresh investments of around Rs 84 crore for manufacture of TV/video games and a new real estate venture. The company's board is meeting tomorrow to clear the expansion ... More

Shinco plans to launch portable DVD players
THE $1-billion Chinese consumer electronics company Shinco will launch some of its high-end products in India soon. Shinco will market its products through a tie up with the Singapore-based Future Techno Design. Shinco, which is the largest ... More


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When `red tape' helped Chemplast shareholders

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In Depth

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Looking back
Jan. 15-Jan. 21
Centre to accept accounting panel's recommendations — Likely to notify AS 1-27 of ICAI

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

Arbitrator to fix share price for Maharashtra Scooters on Jan 31

e-filing facility for India Inc: Ordinance to amend Cos Act likely

IOC to seek board approval for Paradip refinery project

ONGC, Shell ink pact for joint exploration

Some M&A gyan for Indian cos


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