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Saturday, February 04, 2006
Markets (Feb 03)
BSE Sensex9742.58(-101.29)
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US Dollar (Buy/Sell)44.15/44.28


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CORPORATE

ANNOUNCEMENTS


Suzlon forays into Australian market
WIND turbine manufacturer Suzlon has announced its entry into the Australian market with a contract to commission a wind farm consisting of 45 units of the S88 - 2.1 MW by Suzlon Energy Australia Pty Ltd (SEA) of Melbourne, a subsidiary of Suzlon ... More

CORPORATE DISPUTES


SC refuses to quash criminal proceedings against Lodha
THE Supreme Court on Friday refused to quash the criminal proceedings pending before a Kolkata court against Mr R.S. Lodha and three others for allegedly forging the will of the late Priyamvada Birla. While allowing the trial to go on, the court ... More

SC verdict: Birlas seek Lodha's resignation from group posts
THE legal team of the Birlas on Friday sought the resignation of Mr Rajendra Singh Lodha from the post of Chairman of Birla Corporation Ltd and other organisations of the MP Birla Group. Addressing a press conference, Mr N.G. Khaitan of the ... More

OVERSEAS BORROWINGS


Monnet Ispat to raise $60 m thru FCCBs
NEW DELHI: Monnet Ispat Ltd has decided to raise $60 million by way of foreign currency convertible bonds (FCCBs), which will be listed on the Singapore Stock Exchange. The FCCBs, having a maturity period of five years, are convertible ... More

AWARDS & HONOURS


GAIL wins e-governance award
KOCHI: GAIL (India) Ltd has won the Golden Icon Award for exemplary initiatives in e-governance. The award was presented by the State PWD Minister, Dr M.K. Muneer, to Mr R.K. Goel, Director (Finance), GAIL at a function here during the ... More

HUMAN RESOURCES


To prevent talent poaching — ONGC seeks more autonomy on fixing pay
CONCERNED at increased instances of talent poaching, oil giant Oil and Natural Gas Corporation (ONGC) has pressed for greater autonomy in deciding employees' remuneration. The company has approached the Department of Public Enterprises (DPE) ... More

RESTRUCTURING


Sun Pharma to discuss R&D unit spin-off
SUN Pharmaceutical Industries Ltd will take up a proposal to spin off its research and development operations, at its forthcoming board meet on February 9. The company will consider the proposal for demerger of its R&D operations, including ... More

LG Electronics merges room, commercial AC divisions
LG Electronics today announced the merger of its room and commercial air-conditioner divisions. Post this merger, Mr Ajay Bajaj has been designated as the Business Group Head of the AC division, heading both room and commercial AC categories. ... More

MERGERS & ACQUISITIONS


L&T to acquire Spectrum Infotech
LARSEN & Toubro Ltd (L&T) has entered into a MoU for acquiring 100 per cent shareholding of Spectrum Infotech Pvt Ltd, a Bangalore-based defence electronics and aerospace R&D company. The acquisition is in line with L&T's strategy to More

Global M&A meet explores cross-border activity in India
HELPING India Inc Go Global — that was the theme of a recent meeting organised by IMAP (International Network of M&A Partners) in New Delhi. The two-day meeting, which explored opportunities for cross-border M&A activity between India a More

CORPORATE GOVERNANCE


`Regulations do not add value to corporate governance'
THE Sarbanes Oxley Act attempts to solve problems that did not exist, according to Mr Shyam Sunder, James L. Frank Professor of Accounting, Economics and Finance, Yale School of Management, and President-elect of the American Accounting ... More

NEW PROJECTS


Apollo Hospitals plans to foray into Mumbai
IT is conspicuous by its absence in Mumbai. But the Apollo Hospitals Group is finally set to break its Mumbai impasse with plans to set up two super-speciality hospitals in the city. Apollo Hospitals' plan to aggressively explore ... More

RINL to appoint consultant soon for expansion
The consultant would prepare the designs and drawings, assist the plant authorities from the tendering stage and also in supervision. The equipment manufacturing and civil works would begin later. More

Eco-friendly tech project
VISAKHAPATNAM: As a part of Clean Development Mechanism, Coromandel Fertilisers Ltd here is in the process of commissioning another eco-friendly project, according to a press release issued by the company. Presently, the factory is ... More

Venkys Pet investing Rs 15 cr in plant, research centre
VENKYS Pet, a division of the Venkateshwara Hatcheries group, has announced an investment of Rs 15 crore in its pet food manufacturing plant and research centre for companion animal nutrition. Focusing on the top segment of dog and cat foods in ... More

Siemens to invest Rs 30 cr in Gujarat turbine plant
SIEMENS Ltd on Friday announced that it would invest Rs 30 crore to set up an industrial steam turbine factory at Vadodara in Gujarat. The unit would be on stream by December. The cited investment covers only the first phase of the project. At ... More

Triveni Engg to set up mills in UP
NEW DELHI: Triveni Engineering and Industries will set up two new sugar factories in Uttar Pradesh with a cane crushing capacity of 5,000 tonnes a day each. The new factories would come up at Chandanpur, J.P. Nagar District and Rani ... More

REGULATORY BODIES & RULINGS


E-filing facility for cos to begin on Feb 18 — Existing board of directors told to get ID nos
THE Ministry of Company Affairs will roll out its pilot e-governance initiative MCA-21 on February 18 at Coimbatore followed by Jaipur on 27. "It is the first flagship project of the Government to provide a comprehensive set of services to the ... More

ALLIANCES & JOINT VENTURES


Dadri, Patalganga projects: Reliance to supply gas at $3.18
RELIANCE Industries Ltd has entered into an agreement with Reliance Natural Resources Ltd (RNRL), one of the four demerged companies now in the Anil Dhirubhai Ambani Enterprises fold, to supply up to 28 MMSCMD of gas at $3.18 per MMBTU. The ... More

TERI, BP undertake $9.4-m bio-fuel production project
BP (British Petroleum) and The Energy and Resources Institute on Thursday announced that they will jointly undertake a $9.4-million project for bio-fuel production. In a statement issued here, TERI said that BP would fund the project, which ... More

Indoco unit gets USFDA nod
MUMBAI: Indoco Remedies Ltd has received approval from the United States Food and Drug Administration for its sterile ophthalmic preparations facility at the Goa plant. This will facilitate the production and export of Indoco's ophthalmic ... More

INTERVIEW


Margins sustainable, says Tata Chemicals
THE Tata Chemicals' Chief Financial Officer, Mr P.K. Ghose, says that their margins are sustainable as Asian prices are seen firm. He adds that, their soda ash and cement realisations are higher. Excerpts from CNBC-TV18's exclusive interview ... More

BONUS ANNOUNCEMENTS


Sterlite bonus issue
MUMBAI: Sterlite Industries India Ltd has informed the Bombay Stock Exchange (BSE) that its board of directors is meeting on February 10, to consider an issue of bonus shares and a stock split. According to dealers, the stock split is ... More

OUTLOOK


Omaxe Construction to come out with IPO by year-end
REAL estate company Omaxe Construction Ltd on Wednesday said it plans to go for an initial public offering (IPO) by December 2006, putting 25 per cent stake on the block. "Within one month, we will go for a private placement entailing 15 per ... More
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