Financial Daily from THE HINDU group of publications
Tuesday, April 04, 2006
Markets (April 3)
BSE Sensex11564.36(+284.40)
S&P CNX Nifty3473.30 (+70.75)
US Dollar (Buy/Sell)44.61 (-0.08)


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CORPORATE

CORPORATE DISPUTES


TCG not to sell stake in HPL to Bengal Govt
May buy out WBIDC's stake instead; seeks time to respond to offer More

ICAI awaits reply from Lodhas
The Birla-Lodha tussle being fought in the corridors of the Institute of Chartered Accountants of India (ICAI) may soon take a fresh turn, with the Institute hoping to secure an early response from the CA firm to a notice sent on the basis of ... More

ANNOUNCEMENTS


JK Tyres hikes prices by 2 pc
JK Tyres, a unit of JK Industries, on Monday announced a 2 per cent increase in the price of its tyres. The company expects to increase its prices again in May or June, which would raise tyre prices by 5 to 6 per cent. In January, too, the ... More

WATER


CPCL aims to become self-sufficient in water
To spend Rs 290 cr on wastewater plant More

MERGERS & ACQUISITIONS


Celebrity Fashions acquires Ambattur Clothing unit
Celebrity Fashions Ltd has acquired the trouser-making unit of Ambattur Clothing Ltd, situated in the Madras Export Processing Zone, for Rs 5 crore. The unit, occupying 3.5 lakh sq ft of area and having 2,000 machines, will become Celebrity's ... More

Courts okay Hyderabad Ind merger plan
Hyderabad Industries Ltd has informed the stock exchanges that the high courts of Andhra Pradesh and of Kerala have approved the scheme of amalgamation of Malabar Building Products Ltd (MBPL) with the company. The company said these orders of ... More

Shasun to invest $35 m in Rhodia Pharma Solutions
Plans to retain current management, employees in acquired company More

Aditya Birla, Indo Gulf merger
Aditya Birla Nuvo Ltd has announced that the merger of Indo Gulf Fertilisers Ltd (IGFL) with itself has been sanctioned by the court. The merger will become effective from September 1, 2005, which is the appointed date. The ... More

NEW PROJECTS


NTPC plans to expand
State-owned NTPC Ltd is planning a capital expenditure of Rs 13,000 crore during the current fiscal, the company's new Chairman and Managing Director, Mr T. Sankaralingam, said here today. "The money will be used for expansion of our existing ... More

Abu Dhabi oil co draws aggressive expansion plans
Targets South Asia for its petro-chemical products More

Numaligarh Refinery to set up hydro-cracker, hydrogen unit
Rs 300-cr project to improve capacity utilisation More

OVERSEAS INVESTMENTS


Only listed overseas cos can issue IDRs
Paving the way for overseas companies to list on domestic stock exchanges, the Securities and Exchange Board of India on Monday issued guidelines for Indian Depository Receipts (IDRs), stipulating that overseas companies should be listed on their ... More

CavinKare to ramp up overseas presence
Planning to acquire ready-to-eat food brand More

REGULATORY BODIES & RULINGS


Karnataka refers Biocon's procedural lapse to DCGI
`Drugs & cosmetics rules violated by not intimating the changes' More

Aurobindo gets USFDA nod
Aurobindo Pharma Ltd has announced that it has received the United States Food and Drug Administration (USFDA) approval for Cefuroxime Axetil tablets 125 mg (base), 250 mg (base) and 500 mg (base). With this oral cephalosporin ... More

ALLIANCES & JOINT VENTURES


Sujana ties up with Deepak Cables
Sujana Metal Products Ltd and Deepak Cables Ltd have agreed to collaborate for bidding for large power transmission projects being put up by Power Grid Corporation of India Ltd and various State transmission companies. Sujana ... More

Reliance Petro: Global majors eye tie-ups
Reliance Industries Ltd told the stock exchanges here on Monday that several international industry majors have approached the company for a tie-up with Reliance Petroleum Ltd (RPL). The company has been in discussions with ... More

INCOME TAX


`Completion of sales key to decision on income concealment'
"There was no valid justifiable reason for imposing penalty since the sale was completed only in June 1998, when the purchaser received the goods based on which the assessee paid income-tax for the assessment year 1999-2000." More

DIVERSIFICATION


Videocon bags Australian offshore exploration block
Joins hands with Gujarat State Petroleum Corp, Oilex NL More

L&T has Rs 25,000-cr orders
To start building ships at Hazira soon; sees great opportunities in aviation sector More

OUTLOOK


MRF to manufacture helicopter tyres
MRF Ltd plans to get into the manufacture of helicopter tyres. The company is awaiting a few approvals before getting into production, said Mr K.M. Mammen, Chairman and Managing Director. Mr Mammen met presspersons at a function held here to ... More

JK Cement turnover may cross Rs 1,000 cr
Fresh capacities likely to be commissioned in June More

PERFORMANCE


Singareni achieves record coal output
The Singareni Collieries Company Ltd (SCCL) has achieved a record production of 36.13-million tonnes (MT) during the fiscal ended March 31, 2006,a growth of 2.35 per cent over the previous fiscal. The company has also achieved an all-time ... More

Bhilai Steel Plant posts good growth in `05-06
Bhilai Steel Plant, the flagship unit of Steel Authority of India Ltd (SAIL), registered comprehensive growth in all production frontiers in 2005-06. According to a company press release, hot metal production grew 14.8 per cent to 5.178 million ... More

Hyundai, Ford sales rise
More

Honda car sales up 19 pc
Honda Siel Cars India (HSCI) on Monday said its sales grew by 19 per cent in March 2006 at 6,120 cars in the domestic market, up from 5,142 units during the same month last year. HSCI closed the 2005-06 financial year with total ... More

Maruti sales up 15.7 pc in March
Maruti Udyog Ltd on Monday reported a 15.7 per cent increase in its total sales at 63,196 units in March compared to 54,613 units sold in the corresponding month last year. For the year ending March 31, 2006, the company registered total sales ... More

Gujarat Ambuja despatches up 13 pc
Gujarat Ambuja Cements Ltd has reported a 13 per cent growth in despatches for March. Cement despatches for the month stood at 13.29 lakh tonnes, up from 11.79 lakh tonnes in March 2005. Production of cement increased by 12 ... More

PEOPLE


RPG Life Sciences MD resigns
Mr Murli Ramachandran, Managing Director of RPG Life Sciences Ltd has resigned from the post and from being a director with the company. The resignation is effective from March 31, 2006, the company told the Bombay Stock ... More
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Union Budget 2006-2007

Economic Survey 2005-2006


Top Stories
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In Focus

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In Depth

Bihar Diary
Orissa Diary
Gender Justice
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Tax Talk
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Looking back
Mar. 26-Apr. 1
ONGC roadshow: 26 firms respond

ITC Foods plans own facility to make biscuits

RBI eases overseas investment norms

`Large taxpayer units from July'

ONGC may pay more for OMCs to book profit

New Jamnagar refinery: RIL looking for partner



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