Financial Daily from THE HINDU group of publications
Saturday, February 18, 2006
Markets (Feb 17)
BSE Sensex9981.11(-143.19)
S&P CNX Nifty2981.50 (-40.10)
US Dollar (Buy/Sell)44.41/44.54


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Underground coal/lignite gasification tech — GAIL gets board nod to get licence from Canadian firm
GAIL (India) Ltd has received the approval of its board for acquiring licence agreements for underground coal or lignite gasification technology from the Canada-based Ergo Exergy Technologies. GAIL proposes to initiate further discussions with ... More

OVERSEAS BORROWINGS


Madhucon GDR issue
HYDERABAD: Madhucon Projects Ltd, the Hyderabad-based infrastructure company, has announced the opening of its GDR issue for subscription on February 16. The issue will close on February 21. The company informed the BSE that pursuant to ... More

MERGERS & ACQUISITIONS


An unwitting tax liability?
S. Murlidharan on the GACL-Holcim deal More

Dr Reddy's acquisition includes research centre
THE big-ticket acquisition of Betapharm Arzneimittel, Germany by Dr Reddy's Laboratories for 480 million euros (around Rs 2,250 crore) also includes a not-for profit beta institute. Founded in 1999, the beta institute focuses on applied health ... More

Niko Resources mum on IOC offer
NIKO Resources Ltd is yet to respond to IOC's offer for acquisition of its Indian assets. Though Niko authorities preferred not to respond, sources in Indian Oil said that the offer was still valid. According to sources, the Canadian ... More

Spentex Industries set to acquire Indo Rama Textiles
SPENTEX Industries Ltd plans to acquire majority stake in Indo Rama Textiles Ltd through a buyout of up to 50 per cent of the company's fully paid-up equity share capital from existing promoters, in addition to the 14.99 per cent already held by ... More

Ceat merges three subsidiaries with self
THE Mumbai-based Ceat Ltd, a RPG group company, is merging three wholly owned subsidiaries with itself. All these three are investment companies. The companies are Ceat Holdings Ltd, Ceat Ventures Ltd, and Meteoric Industrial Finance Co ... More

NEW PROJECTS


Saint-Gobain to set up unit for solar control products — Opens second float glass plant
SAINT-GOBAIN Glass India Ltd is setting up a unit to make advanced solar control products at its plant at Sriperumbudur, near here. The Rs 100-crore advanced architectural processing facility is now under construction and will be ready by the ... More

REGULATORY BODIES & RULINGS


Banks told to show details of Cheran Enterprises account
THE Company Law Board has directed three branches of the State Bank of India (Erode Main; Leather and International branch, Kilpauk; and Adyar), Syndicate Bank and ABN Amro Bank (Nungambakkam branch) to furnish particulars of the bank account of ... More

TRADE & LABOUR UNIONS


Employees of 3 jute mills in AP threaten stir from Sunday
WORKERS of three jute mills in Vizianagaram district, numbering 12,000, are threatening to go on strike from Sunday, as wage negotiations have made no headway so far. At a press meet here on Friday, Mr P. Prasad, Vice-President of the Indian ... More

ALLIANCES & JOINT VENTURES


Tata Sky signs pact with Thomson for set-top box technology
TATA Sky Ltd today announced its partnership with Thomson for set-top box technology. Tata Sky Ltd, the joint venture between the Tata Group and Star India, plans to launch its Direct-to-Home (DTH) service in mid 2006. Thomson, which provides ... More

SOCIETY & DEVELOPMENT


'Corporate social responsibility starts with one's company'
Instead of viewing CSR as something extraneous to their core activity, businesses should make it a built-in strategy and view it as a source of creativity and innovation in order to maximise business opportunities, says ... More

OUTLOOK


Numaligarh Refinery mulls Rs 800-cr IPO — Final decision in four months
NUMALIGARH Refinery Ltd (NRL) is actively considering coming out with a Rs 700-800-crore IPO. The company, a BPCL (62 per cent) subsidiary, is already discussing the issue prospects with merchant bankers. A final decision on the offering and the ... More

India a priority zone, says Saint Gobain CEO
INDIA will be a "priority zone", in the next five years, for investments among emerging countries for the French multinational Saint-Gobain, which has interests in areas such as float glass, abrasives and construction materials. In India, ... More

GAIL confident of meeting consumer demand in summer
GAIL (India) Ltd today said that following a recent communication from the Government to the Panna-Mukta-Tapti (PMT) consortium to continue supply of six million standard cubic meters of gas per day (MMSCMD) beyond March 2006, broadly on the same ... More

Vizag Steel to focus on energy conservation
THE Visakhapatnam Steel Plant (VSP) is going to focus on adoption of energy-efficient, cost-effective technologies as it takes up the project to double its capacity from the present level of 3.2 million tonnes, according to Mr C.S. Gupta, General ... More

M&M plans to expand European operations
MAHINDRA & Mahindra (M&M) is charting out an aggressive expansion strategy for the European markets. Through Mahindra Europe Srl (MESRL), its European arm, it is planning to launch new vehicles in the region as well as expand its distribution More

PEOPLE


Lotte India MD resigns
LOTTE India Corporation Ltd, formerly Parrys Confectionery, has informed the NSE that Mr N.C. Venugopal, Managing Director of the company, has submitted his resignation from the company with effect from February 28, 2006. The Board of Directors ... More

Anil Singhvi appointed director on ACC board
ASSOCIATED Cement Companies Ltd (ACC) on Friday appointed Mr Anil Singhvi, Managing Director, Gujarat Ambuja Cements Ltd, as a Director. The appointment is seen as another step in the consolidation process of its business in India by the Swiss ... More

New members on boards of Punjab Tractors, Swaraj Mazda
THE New Delhi-based Burman family, which recently purchased 11 per cent stake in Punjab Tractors Ltd (PTL), has appointed Mr P.D. Narang, Group Director at Dabur, as its nominee on the PTL board. The boards of both PTL and Swaraj Mazda, in ... More


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Top Stories
Saint-Gobain to set up unit for solar control products — Opens second float glass plant


Numaligarh Refinery mulls Rs 800-cr IPO — Final decision in four months

`Market can absorb home loan rate hikes' — More disbursals by lenders; more younger borrowers

Wagon manufacturers may witness surge in demand — Container services space hotting up

SEBI debars Warner Multimedia, 12 entities

CSO puts software sector's contribution to GDP at 2.7 pc

Left expresses `growing distrust' over delay in CMP

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
More

Looking back
Feb. 5-Feb. 11
Cultural issues hinder global M&As by Indian cos: Expert

`Integrated energy policy to be finalised soon'

Gas deal fuels Ambani spat

Mount 10,000 and Reliance

Siemens plans to take 50 pc stake in Flender

ONGC `dry run' in Bengal continues

Jet may need aircraft acquisition panel's nod for Air Sahara buyout

ADAG identifies deviations in gas pact, non-compete clause

`Labour issue delaying decision on Toyota's small car plant' — Japanese trade team visits Bangalore

Oil exploration in Nigeria — ONGC looking at Korean tie-up

Ural India to start assembling unit for trucks soon — 2nd auto unit in 64 years at Uttarpara



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