Financial Daily from THE HINDU group of publications
Tuesday, February 28, 2006
Markets (Feb 27)
BSE Sensex10282.09(+81.33)
S&P CNX Nifty3067.45(+17.40)
US Dollar (Buy/Sell)44.47


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CORPORATE

ANNOUNCEMENTS


BHPV bags Rs 96-cr HPCL order
Bharat Heavy Plate and Vessels (BHPV) Ltd has bagged a Rs 96-crore order from the Hindustan Petroleum Corporation Ltd. According to an official release, the order is towards design, engineering, ... More

Madhucon bags NHAI project
Madhucon Projects Ltd has announced that it was awarded the longest BOT project in the country by the National Highways Authority of India (NHAI). The 129-km-long four-laning of Madurai-Tuticorin ... More

CORPORATE DISPUTES


Gas supply issue: Meet today to resolve deadlock
Chiefs of Panna-Mukta venture partners, GAIL to participate

The conflict
The PMT partners had sought the Ministry's permission to sell six MMSCMD of gas from the fields, currently being given to GAIL, directly to clients at market price from April.
GAIL and ONGC have been holding co nflicting views on their claims on an agreement for selling gas beyond March 31 this year from the PMT fields. More

Tatas blame Birlas on Idea issue
Write to Telecom Dept again

The war of letters between the Tata Group and Aditya Birla Group over Idea Cellular continued today with the former shooting off another one to the Department of Telecom blaming the Birlas of breaching a waiver agreement between the two sides ... More

CORPORATE BONDS


High credit rating for ONGC bonds
CRISIL and ICRA have assigned high credit rating to ONGC's Rs 50 crore notional non-convertible debenture issue. According to a company statement, while CRISIL has given AAA rating, ICRA has also assigned a long-term AAA rating. ... More

RESTRUCTURING


Sanmar group plans to shed more stake in India Cements
The 3 investment companies of Mr Srinivasan and his family will together hold 26.29 per cent stake in the company. More

LML may go in for tie-up
Two-wheeler maker LML on Monday said it was looking at inducting a strategic partner as part of the restructuring process of the company. "LML has been working on restructuring of its business, which inter-alia includes the possibility of a ... More

MERGERS & ACQUISITIONS


Spentex buys 50 lakh shares of Amit Spng
Spentex Industries Ltd has executed a share purchase agreement to acquire 50.91 lakhs equity shares along with management control of Amit Spinning Industries. Spentex has purchased 50.91 lakhs equity shares at a price of Rs 11 per share on a ... More

OVERSEAS INVESTMENTS


Lupin divests stake in Thai arm
Lupin Ltd said on Monday that its board has approved the proposal to divest its stake in Lupin Chemicals (Thailand) Ltd (LCTL), its subsidiary in Thailand. LCTL is a joint venture where Lupin holds 60 per cent of the share capital. G Premjee ... More

ALLIANCES & JOINT VENTURES


Praj in pact with Aker Kvaerner
To pursue bio-ethanol projects in Europe

Promoting biofuels
Many EU countries are fast developing a fuel ethanol programme. France, Germany, Belgium, the Netherlands and others have announced either a policy or a grant for promotion of fuel ethanol.
Praj also has plans to set up an operating base in the EU shortly to augment its marketing efforts. More

NTPC plans joint venture with Coal India
National Thermal Power Corporation (NTPC) proposes to set up a 50:50 joint venture coal company with Coal India Ltd (CIL), to develop new coal mines for exclusively meeting the corporation's additional coal requirement at its thermal power ... More

STANDARDS & BENCHMARKS


FDA nod for Wockhardt's Ranitidine
Wockhardt Ltd has received the United States Food and Drug Administration (USFDA) approval to market ulcer drug Ranitidine 75 mg tablets as an over-the-counter (OTC) product in the US market. ... More

OUTLOOK


Sethu canal: Dredging Corp may get more blocks
Of the 167-km length of the ship canal, dredging is required in a 34-km stretch in the Adam's Bridge area - designated blocks A and B - and a 54-km stretch in Palk Strait - blocks C and D. More
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Gas supply issue: Meet today to resolve deadlock
Chiefs of Panna-Mukta venture partners, GAIL to participate


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In Depth

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