Financial Daily from THE HINDU group of publications
Wednesday, January 25, 2006
Markets (January 24)
BSE Sensex9549.92 (+85.02)
S&P CNX Nifty2908.00 (+23.95)
US Dollar (Buy/Sell)44.21/44.35


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ANNOUNCEMENTS


Bharti Tele-Ventures to be renamed Bharti Airtel
BHARTI Tele-Ventures Ltd, the telecommunications services provider, is to be renamed Bharti Airtel Ltd. The board of directors of the company approved the change of name today. The change is subject to approval from shareholders and regulatory ... More

Pipavav Rail applies for container operations
Indian Railways had recently announced the policy for allowing players other than Concor to offer containerised services. More

HCC bags NHPC contract
MUMBAI: Hindustan Construction Company Ltd (HCC) has informed stock exchanges on Tuesday that it has been awarded a contract for Rs 395.9 crore from National Hydroelectric Power Corporation Ltd (NHPC) for civil works package — ... More

Neuland Labs to re-issue shares
HYDERABAD: Neuland Laboratories Ltd (NLL), the Hyderabad-based pharmaceutical company, has informed the stock exchanges that its board of directors at a meeting held on Tuesday has decided to re-issue 1,03,276 forfeited shares to the ... More

Reliance Infrastructure postal ballot
MUMBAI: Reliance Industrial Infrastructure Ltd has informed the stock exchanges on Tuesday that the members of the company will consider to approve special resolution, by way of postal ballot, to change control of the company in favour of ... More

RESTRUCTURING


Ballarpur Industries second quarter net up 9.45 pc — Plans to withdraw from non-core business
PAPER major Ballarpur Industries Ltd (BILT) has reported a 9.45-per cent rise in its net profit at Rs 47.4 crore for the quarter ended December 31, 2005, compared to Rs 43.3 crore in the corresponding period last year. BILT, which follows a ... More

Sujana EGM on Jan 30
HYDERABAD: Sujana Metal Products Ltd has informed the stock exchanges that a meeting of its board of directors would be held on January 30 to consider and approve the demerger of power and telecom transmission towers business into a new ... More

MERGERS & ACQUISITIONS


Manipal group earmarks Rs 150 cr for more buys
On a parallel track, in the next two years the group's existing 600-bed Rs 150-crore Manipal Hospital in Bangalore would create a new campus on property owned towards the emerging Hebbal-Devanahalli area. More

NEW PROJECTS


IFC to invest $20 m in PSL expansion
INTERNATIONAL Finance Corporation, the lending arm of the World Bank, has agreed to invest $20 million (Rs 96 crore) in PSL Ltd. The funds will be used for the expansion of PSL's production capacity to meet an increase in domestic and ... More

REGULATORY BODIES & RULINGS


Raj Basantani group to face prosecution for fraud
The main business of Basantani on paper was export of diamond and local trading of diamond. It was found that peons, drivers and clerks were the directors of the company. More

TRADE & LABOUR UNIONS


Dunlop finalises pact with unions at Sahagunj unit
DUNLOP INDIA on Tuesday entered into a memorandum of understanding (MoU) with trade unions at the Sahagunj facility on wage agreement. The MoU has finalised the terms and conditions for payment of past dues and also towards the early ... More

Over 1,000 Toyota workers return to work
EVEN as over 1,000 workers of Toyota Kirloskar Motor resumed work on Tuesday, the workers' union claimed victory for itself stating that it had prevailed upon the management to alter certain conditions for joining duty. A representative of the ... More

ALLIANCES & JOINT VENTURES


Air Arabia, Kingfisher tie up for Mangalore to Gulf flights
AIR Arabia LLC, the first international low-fares airline in India, has tied up with Kingfisher Air to offer customers in Mangalore direct flights to the United Arab Emirates. A press statement from Air Arabia said with a single reservation, ... More

RIGHTS ISSUE


Tata Tele Maharashtra plans Rs 325-crore rights issue — 2 shares for every 25 held at a premium of Rs 15-17
TATA Teleservices (Maharashtra) Ltd (TTML) on Tuesday filed a letter of offer for a rights issue with SEBI to mobilise Rs 300-325 crore to meet its ongoing funding requirements. The rights issue is in the ratio of two shares for every 25 ... More

OUTLOOK


ONGC may get higher prices for C2/C3-rich gas supplies to IPCL
ONGC is expected to record a "major increase" in prices for long-term supply of C2/C3 (methane-propane) rich gas to Reliance Industries-controlled Indian Petrochemicals Corporation Ltd (IPCL). While the formal agreement is yet to be struck, ... More

STC to explore new avenues for growth
The corporation hopes to take its turnover from the current level of $2.1 billion to $4.5 billion (Rs 20,000 crore) by 2008. More


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