Financial Daily from THE HINDU group of publications
Tuesday, March 07, 2006
Markets (March 7)
BSE Sensex10725.67 (-9.69)
S&P CNX Nifty3182.80(-7.60)
US Dollar (Buy/Sell)44.41 (+0.03)


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CORPORATE

ANNOUNCEMENTS


Aurobindo's Citalopram gets Health Canada nod
Aurobindo Pharma Ltd (APL) has announced that it has received product approval (notice of compliance) from Health Canada for Citalopram Hydrobromide 20 mg and 40 mg tablets. The tablets are indicated in the treatment of depressive disorders. ... More

GAIL pays Rs 97-cr special interim
GAIL (India) Ltd presented a dividend of Rs 96.98 crore to the Petroleum Minister, Mr Murli Deora, on Monday. Mr Proshanto Banerjee, Chairman and Managing Director of GAIL, presented the cheque. The amount has been paid towards a special ... More

IVRCL board approves stock split
IVRCL Infrastructures & Projects Ltd has informed the stock exchanges that its shareholders, at the extraordinary general meeting held on Saturday, have passed the special resolution approving subdivision of existing shares of Rs More

Solar Explosives to go public
The Nagpur-based Solar Explosives plans to enter the capital market with a public issue of 44 lakh equity shares of Rs 10 each through 100 per cent book building process. The price band is fixed at Rs 170 to Rs 190. The issue opens on March 9 and ... More

PREFERENTIAL ALLOTMENTS


Nagarjuna Agri plans pref offer
Nagarjuna Agri Tech Ltd has informed the stock exchanges that a meeting of its board of directors would be held on March 8 to consider convening of extraordinary general meeting (EGM) for issue of 20-lakh equity shares of Rs 10 each at a price of ... More

CORPORATE DISPUTES


Resolve Idea row fast, Birlas urge DoT
The Aditya Birla Group has urged the Department of Telecom to expedite a resolution in its ongoing dispute with the Tata Group over Idea Cellular. In another letter to the DoT, the Birla Group rubbished claims made by the Tatas that they were ... More

RESTRUCTURING


`ADAG creates shareholder value of Rs 71,485 cr'
Reliance Communication Ventures listed at Rs 291 More

De-merger enhances value by Rs 35,024 cr
An additional value of Rs 35,024.50 crore was unlocked through the de-merger of Reliance Industries Ltd (RIL), followed by the listing of the four companies spun-off from the parent, going by the Monday's market capitalisation. The four ... More

MERGERS & ACQUISITIONS


Dr Reddy's completes Betapharm buy
Dr Reddy's Laboratories Ltd has announced on Monday that it has completed the acquisition of 100 per cent of Betapharm Group, the fourth largest generic pharmaceuticals company based in Germany, for a total enterprise value of ... More

Macmillan buys US firm for Rs 15 cr
The board of Macmillan India Ltd has approved the acquisition of 100 per cent of the shares of the US-based Interactive Composition Corp (ICC) for about Rs 15 crore. This acquisition is expected to enhance Macmillan's presence ... More

BOC India may see significant changes
More

NEW PROJECTS


HPCL to raise refinery capacities
To invest Rs 1,200 cr in retail expansion More

Infosys mulls setting up operations in Kolkata
Need to augment education infrastructure in Bengal taken up More

Hatsun expanding domestic, export markets
Hatsun Agro Product Ltd, the Chennai-based private dairy, is gearing up for an expansion in the domestic market in branded milk sales and strengthening its export products output with a larger milk ingredients unit. Addressing presspersons on a ... More

Robert Bosch centre in Coimbatore
Robert Bosch India Ltd's second development centre is coming up in Coimbatore. The project is expected to become operational within the next one year. Though Bosch sources were not available for comment, the Confederation of ... More

OVERSEAS INVESTMENTS


`Indian cos are second largest investor in London'
Indian companies account for 30 per cent of all foreign investment in London, making it the second largest overseas investor in the city after the US, according to Think London, which is the foreign direct investment agency for London. Last ... More

ALLIANCES & JOINT VENTURES


Taj Hotels ties up with Korea's Shilla
Marketing pact to include trade shows, sales events More

Tata Motors, Fiat India to share dealer network
Both companies examining synergies in distribution overseas More

Novavax, Bharat Bio to develop flu vaccine
Novavax Inc, a Nasdaq-listed pharma and vaccine products and technologies major, and Bharat Biotech International Ltd (BBIL), a Hyderabad-based manufacturer of vaccines and bio-therapeutics, have entered into a strategic alliance to pursue the ... More

EVENTS


Gulf Oil hosts safety month
The Explosive Division of Gulf Oil Corporation Ltd (GOCL) - referred to as IDL Explosives - launched month long celebrations in connection with the 35th National Safety Day. The Division had created a significant record by registering ... More

DIVERSIFICATION


Petronet LNG to float shipping subsidiary
The diversification plan has been unveiled in the tender conditions stipulated by Petronet. More

Bharat Hotel may float real estate co
Bharat Hotels Ltd is exploring the option of launching another company to diversify into the real estate development business, the Group promoter and Chairman and Managing Director, Mr Lalit Suri, has said. "We will look at making small self ... More

OUTLOOK


Zen in a new avatar soon
Declining Run More

BPCL may commission Bina refinery by 2009-end
To be financed in a debt-equity ratio of 1.6:1 More

Suguna Poultry set to clock Rs 1,100-cr sales
Eyes 20% broiler market share by 2010 More

Starwood Hotels to enter India
Starwood Hotels & Resorts Ltd, one of the world's largest hospitality and leisure chains, is planning to roll out a number of its brands in India, including the Westin, `W', Four Points, and Aloft. It is also planning on expanding its ... More

PERFORMANCE


Cost-cutting vital, says VSP chief
Visakhapatnam Steel Plant has wiped out its accumulated losses and emerged as a zero-debt company and efforts are afoot to cut down on costs further, according to Mr Y. Sivasagara Rao, Chairman and Managing Director. He was speaking at a ... More
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Union Budget 2006-2007

Economic Survey 2005-2006


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In Focus

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In Depth

Gender Justice
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Tax Talk
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Looking back
Feb. 26-Mar. 4
Gas supply issue: Meet today to resolve deadlock
Chiefs of Panna-Mukta venture partners, GAIL to participate


Tatas move to buy Birla stake in Idea Cellular

Delay proves costly for ONGC in Nigeria



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