Financial Daily from THE HINDU group of publications
Wednesday, April 26, 2006
Markets (April 25)
BSE Sensex11646.78(-268.46)
S&P CNX Nifty3462.65 (-86.25)
US Dollar (Buy/Sell)45.06 (-0.08)


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CORPORATE

MERGERS & ACQUISITIONS


IPCL to merge 6 polyester cos with itself
To result in forward integration; net drops to Rs 249 cr More

Resurgent India strikes back with confidence
Just a decade ago, the idea of Indian manufacturers emerging as significant competitors in the global economy might have attracted some incredulity. Today, it has become a fact of life. From robots and computer chips to value-for-money automobile ... More

Ansal Properties board okays merger
The board of directors of real estate company Ansal Properties and Infrastructure Ltd has approved a scheme of amalgamation entailing merger of unlisted firm Ansal Township and Projects Ltd with the company. The board, during ... More

CORPORATE DISPUTES


Austrian panel rules in Ranbaxy's favour on lipitor
In a boost to the country's largest drugmaker Ranbaxy Laboratories Ltd, an Austrian panel has ruled in the company's favour in a patent litigation against Pfizer involving cholesterol-lowering drug `Lipitor' in that country. A five-judge panel ... More

OVERSEAS BORROWINGS


NPIL board nod for raising up to $1.5 b
Q4 net profit at Rs 37 cr against previous year's Rs 12-cr loss More

Shringar Cinemas raises $20 m
Shringar Cinemas Ltd has raised $20 million through a foreign currency convertible bonds (FCCBs), with a tenure of five years. The bonds are expected to be listed on the Singapore Stock Exchange. The issue, which opened on Friday ... More

Jubilant Organosys raises $200 m
Jubilant Organosys Ltd has raised $200 million through the FCCB route at a conversion rate of Rs 413.45 per Re 1 share, a 50 per cent premium to Monday's closing price. The zero-coupon bonds that mature in five years will be ... More

COMPANY LAW


Ministry to issue tender for e-liquidation of companies
The Limited Liability Partnership Act to make winding up of cos easier, faster More

RESTRUCTURING


Elgi Equipments recommends 60 pc final dividend
Board clears proposal to hive off auto equipment unit More

OVERSEAS INVESTMENTS


BEML plans assembly units in Africa, Latin America
Bharat Earth Movers Ltd on Tuesday said that it has bagged orders worth Rs 1,500 crore from Delhi Metro Corporation (DMRC). It also plans to set up assembly units in northern and western Africa, Asia-Oceania and Latin America over the next three ... More

ALLIANCES & JOINT VENTURES


Opto Circuits' arm signs pact with Fumedica
EuroCor GmbH, the wholly-owned subsidiary of Opto Circuits (India) Ltd(OCIL) and a leading manufacturer of healthcare equipment, has signed a distribution agreement with Fumedica AG, Europe's leading medical device sales organisation. ... More

Rogers Group keen on pacts with Indian cos
Mauritius-based Rogers Group, a $300-million company engaged in aviation, hotels, leisure, logistics and shipping, is looking to tie up with Indian companies in the near future, said Mr Philippe Espitalier-Noel, Executive Director, Rogers Group. ... More

DIVERSIFICATION


MTNL to foray into real estate
Faced with declining revenues from the telecom sector, Mahanagar Telephone Nigam Ltd (MTNL) today said that the company would foray into real estate sector and is planning to form a new subsidiary for the same. The new subsidiary will also look ... More

OUTLOOK


MRPL may firm up proposal to lift crude from PMT in May
Product-sharing contract may be changed to denominate IOC More

ONGC's coal bed methane contracts get delayed
The awarding of integrated contracts by ONGC for exploration and development of coal bed methane (CBM) in six blocks in Jharkhand and West Bengal is delayed at least by a month. The contracts were expected to be awarded in April. Hectic ... More

Tubeknit Fashions eyes US market
Tubeknit Fashions Ltd plans to expand its production capacity to cater to the rising demand from overseas markets. The integrated apparel manufacturing company from Tirupur supplies fashion garments to major global retail brands in ... More

ANNOUNCEMENTS


Rajshree Sugars board meet on May 3
Rajshree Sugars and Chemicals Ltd has informed the Bombay Stock Exchange that its board would meet on May 3 to consider a proposal for raising additional long term resources by way of equity or equity related securities to meet ... More

PEOPLE


BILT records 26.8 pc rise in Q3 net profit
Gautam Thapar to take over as Chairman More

Ravi Krishnan, real estate India fund head
Mr Ravi Krishnan, Managing Director IMG/TWI South Asia and Senior Vice-President, IMG, is joining a large real estate group as its India Head. The group, primarily based in Australia and Israel, is establishing a dedicated India ... More


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