Financial Daily from THE HINDU group of publications
Friday, January 27, 2006
Markets (January 25)
BSE Sensex9685.74(+135.82)
S&P CNX Nifty2940.35 (+32.35)
US Dollar (Buy/Sell)44.13/44.27


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ANNOUNCEMENTS


GHCL to shift Dan River's administrative jobs
For Dan River, the company is targeting a turnover of $300 million, which it hopes to attain through sourcing of home textiles spread across India, Pakistan and China. More

ONGC likely to offer gas to Torrent Power's Surat plant
Confirming that they had received an assurance from ONGC for supply of 1.5 mmscmd gas, Torrent Group sources said that TPGL would need a total of 4.5 mmscmd of gas for running the 1,100-MW power plant. More

Ranbaxy launches diabetes drug
RANBAXY Laboratories Ltd on Wednesday announced the launch of its branded product Volix (Voglibose), for the treatment of diabetes. The product, a novel Alpha-Glucosidase inhibitor introduced for the first time in India, will be available in ... More

Indoco Remedies plans US foray with ophthalmic drugs
The company also aims to enter the new generics markets in Germany, Moldova and Turkmenistan. Indo Remdies currently exports generics to 35 countries including the UK, East European countries, Latin America, Africa and South East Asia. More

MICO-Bosch to supply locally made CRDi systems to Suzuki
As per its projections, MICO-Bosch expects its first year sales for common rail diesel systems to be about 40,000 and the payback period to be between five and six years. More

PREFERENTIAL ALLOTMENTS


Gangotri Tex promoters to raise stake thru preferential offer
The company is embarking upon a major expansion programme and is availing itself of loan facilities to the extent of about Rs 273 crore. More

Suryavanshi Spg defers pref offer
HYDERABAD: Suryavanshi Spinning Mills Ltd has informed the stock exchanges that its board of directors at a meeting has deferred the proposal for offering the equity shares on preferential basis to the ensuing board ... More

RESTRUCTURING


To integrate talent and turn M&As into competitive advantage — Nicholas Piramal on HR revamp exercise
AFTER 25 mergers and acquisitions in the last decade, Nicholas Piramal India Ltd (NPIL) has a major `people task' on hand. Integrating talent and turning M&As into a competitive advantage is one of the top priorities, says Dr Swati Piramal, ... More

NEW PROJECTS


For Kakinada, Barmer refinery projects — ONGC in talks with oil majors for long-term crude supply
OIL and Natural Gas Corporation (ONGC), which is looking for possible partners to ensure long-term crude supply for its refinery projects, is in talks with major players including Saudi Aramco. The company would require close to 50 million ... More

Nahar Industrial plans Rs 800-cr capacity expansion
The Rs 700-crore Nahar Industrial Enterprises Ltd (NIEL) is planning to invest Rs 800 crore over the next two years to expand capacity at its two units in Bhiwadi and Lalru (Punjab). The company is engaged in manufacturing textile including ... More

OLHO Technik to set up manufacturing facility in Coimbatore
OLHO Technik, which is into design and development of plastic injection moulding parts for car interiors, is looking to set up a manufacturing facility in Coimbatore. The Chairman and promoter of OLHO Group Mr Lothar Oleff is in the city to ... More

ALLIANCES & JOINT VENTURES


Bevcon Wayors in pact with Austrian co for `flip-flow' screen tech
BEVCON Wayors, the Hyderabad-based materials handling company, has tied up with Statec Anlagentechnik, Austria's leading screen technology company. Under the agreement, the Austrian company would bring its patented `flip-flow' screen technology ... More

Dunlop in talks with global majors for product-specific tie-up — May revive past draft pact with Sumitomo
DUNLOP India has initiated discussions with some global majors for product-specific technology tie-up. A broad collaboration arrangement may also be worked out with Sumitomo Corporation, which owns the Dunlop brand globally. Previously, Dunlop ... More

Apollo Hospitals ties up with Saudi group
IN an effort to consolidate its presence in West Asia, the Apollo Hospitals Group on Wednesday announced its tie-up with the Al Hokair Group of Saudi Arabia to set up three hospitals and 20 clinics across the country over the next three years. ... More

OUTLOOK


Irish beverage major eyes Indian market
"The fact that the consumer in India has already tasted or has appreciation of Scotch whiskey means this market must offer substantial opportunities for us to make a foray." More

PERFORMANCE


RINL wipes out losses
VISAKHAPATNAM: Rashtriya Ispat Nigam Ltd has wiped out accumulated losses and is looking forward to a bright future, as the expansion plan has been approved by the Union Government, according to Mr Y. Sivasagara Rao, CMD. Mr Rao said on ... More

ECONOMIC OFFENCES


CAs make `misconduct' charge against Lodha
THREE Kolkata-based chartered accountants have moved the Institute of Chartered Accountants of India (ICAI) against Mr R.S. Lodha and his two sons for professional misconduct. Addressing an impromptu press conference here on Tuesday, Mr O.P ... More
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