Financial Daily from THE HINDU group of publications
Tuesday, January 31, 2006
Markets (January 30)
BSE Sensex9849.03 (-21.76)
S&P CNX Nifty2974.50 (-8.25)
US Dollar (Buy/Sell)44.08/44.22


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CORPORATE

ANNOUNCEMENTS


Nagarjuna bags Rs 165-cr orders from NHAI, TN
NAGARJUNA Construction Company Ltd (NCC) has announced that it has secured two new orders aggregating Rs 164.57 crore. The order from the National Highways Authority of India (NHAI) for rehabilitation and upgradation to four laning of ... More

IVRCL to build mall, IT Park at Gachibowli
IVRCL Infrastructures & Projects Ltd though its wholly owned subsidiary, IVR Prime Urban Developers Ltd, is setting up a mall and IT park at Gachibowli here. In a press release here on Sunday, the company said it proposes to invest Rs 300 ... More

PREFERENTIAL ALLOTMENTS


Suryavanshi Spinning board okays pref issue
THE board of directors of Suryavanshi Spinning Mills at its meeting held on Saturday approved resolutions for offering equity shares on preferential allotment basis. The board approved a proposal to offer 15,06,747 equity shares of Rs 10 ... More

OVERSEAS BORROWINGS


Marg Constructions to raise $30 m
CHENNAI: The Chennai-based Marg Constructions Ltd, which has signed a concession agreement with the Government of Pondicherry for the development of the port at Karaikal, plans to raise $30 million through foreign currency convertible ... More

ACCOUNTANCY


Economic Value Added: Much ado about nothing
The proponents of the Economic Value Added tool argue that it is the only financial management system that provides a common language for employees across all operating and staff functions and allows all management decisions to be modelled, monitored , communicated and compensated in a consistent way — always in terms of the value added to shareholder investment. An apparently sensible approach, but there are fundamental flaws, as N. Shanmuganathan describes. More

MERGERS & ACQUISITIONS


Holcim acquires 14.8 pc in Guj. Ambuja for Rs 2,100 cr — Rs 90 a share plus Rs 15 non-compete fee
A YEAR after it bought into India's largest cement maker, ACC, Swiss major Holcim today announced that it was buying 14.8 per cent stake in Gujarat Ambuja Cements Ltd (GACL) from its founder-promoters, the Sekhsarias and the Neotias, for Rs 2,100 ... More

Apollo Tyres to buy Dunlop South Africa for Rs 290 crore — To get access to European market via distribution network
IN a significant all-cash overseas deal worth about Rs 290 crore, the board of directors of Apollo Tyres Ltd (ATL) on Monday approved the acquisition of the Durban-headquartered Dunlop Tyres International (Pty) Ltd (Dunlop South Africa). The ... More

OVL to acquire ExxonMobil's 30% stake in Brazil oilfield
ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation, has reached an agreement with ExxonMobil to acquire the US energy firm's 30 per cent stake in an oil field in Brazil for about $1.4 billion. "OVL has reached an ... More

Arcelor bid: Mittal Steel begins campaign to counter opposition
MITTAL Steel on Monday began a sustained campaign to counter the opposition to its $23-billion bid after the 18-member Arcelor board's rejection of the offer on Sunday. Sources in Mittal Steel told Business Line that without raising the ... More

NEW PROJECTS


Vietnam, Brazil footwear firms eye foothold in TN
PouChen's operations are known for their scale - just one unit in China manufactures over a 100,000 pairs of shoes a day. More

ALLIANCES & JOINT VENTURES


NHAI signs Rs 490-cr pacts with Reliance Energy-promoted SPVs
THE National Highways Authority of India (NHAI) on Monday signed two concession agreements with Reliance Energy Ltd-promoted special purpose vehicles (SPVs) to four-lane two national highway sections on NH-7 in Tamil Nadu on ... More

BPL plans to shift colour TV plant in Slovenia to Poland
BPL plans to shift its entire colour television factory in Slovenia to Poland to take advantage of lower cost of production there. Sources in the new joint venture told Business Line that the production in Slovenia had slowed down ... More

INTERVIEW


A win-win deal with Holcim — Handsome exit price, non-compete free
The association with Holcim is bound to sharpen Gujarat Ambuja's edge as the most efficient player in the cement industry in the country. More

OUTLOOK


Tata group targets Rs 2,200 cr from Defence sector by 2008
THE Tata group is targeting revenues of over Rs 2,200 crore from the Defence sector by 2008. The group, which offers turnkey Defence solutions in areas ranging from basic transportation to artificial intelligence solutions, is also in the race ... More

PERFORMANCE


ACC — after Holcim is in
IT was last January that Holcim announced its acquisition of the hoary ACC Ltd, which has some of the oldest plants in the country and arguably the largest workforce in the cement industry. Although Holcim has been particular that the ... More

Lupin steps up pace in Europe
AFTER having set the ball rolling in the US about three years ago, Mumbai-based drug maker Lupin Ltd is set to step up the pace in the European markets. Advanced markets, comprising North America and Europe, posted a 139 per cent growth in ... More


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Top Stories
Lupin steps up pace in Europe


BPL plans to shift colour TV plant in Slovenia to Poland

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Despite weak demand, funds push up gold

Creating energy security priority area: Murli Deora

Ministry moots 51% FDI in agri-business

Hindalco Q3 net falls on copper output impact

ONGC profit rises 11 pc to Rs 3,888 cr, turnover 3 pc in Q3

NHAI signs Rs 490-cr pacts with Reliance Energy-promoted SPVs

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In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Jan. 22-Jan. 28
RIL's new SEZ refinery may have to `export' into India

Plans afoot to upgrade National Foundation for Corporate Governance

Teva-Ivax merger likely to create shifts in pharma sector

When `red tape' helped Chemplast shareholders

Toyota workers call off strike; want co not to insist on conduct note

ONGC may get higher prices for C2/C3-rich gas supplies to IPCL

Novartis loses patent claim on cancer drug — Patents Controller upholds Natco contention

ONGC-Reliance PMT venture wants MRPL, instead of IOC, to lift oil


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