Financial Daily from THE HINDU group of publications
Thursday, May 04, 2006
Markets (May 3)
BSE Sensex12310.72(+91.94)
S&P CNX Nifty3634.25 (+28.80)
US Dollar (Buy/Sell)44.92 (-0.10)

Cross Currency


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SSI to raise $100 m via bonds, GDRs
SSI Ltd plans to raise $ 100 million by way of foreign currency convertible bonds, Global Depository Receipts and American Depository Receipts to fund its expansion plans. The company plans to invest about Rs 500 crore in its subsidiaries. ... More

India Cements enters into subscription pact for Rs 340-cr FCCBs
India Cements Ltd has entered into a subscription agreement for its $75 million (Rs 340 crore) foreign currency convertible bonds on Tuesday. According to a company press release, the bonds with a maturity of five years and one day are ... More

Srinivasa Shipping to raise $20 m
Srinivasa Shipping & Property Development Ltd is raising additional capital with the issue of foreign currency convertible bonds (FCCBs) to the tune of about $20 million. Mr Prakash Challa, Managing Director, Srinivasa Shipping, said the ... More


Midsummer madness
Summer is the most difficult time of the year to do any sensible business. Why not be creative and encourage offices to close for a few weeks? More


SMERA to offer rating services for start-up companies
Pilot project later this year that would focus on some regions/ industry sectors More

Creditworthiness sliding, says Crisil
Led by the manufacturing, financial services and infrastructure sectors, Indian companies have begun to show a downward movement of creditworthiness, says Crisil Ratings. The modified credit ratio (MCR) of the rating agency has shown a sharp ... More


Morepen proposes Rs 750 cr CDR
Morepen Laboratories Ltd on Wednesday announced that its corporate debt restructuring (CDR) proposal of Rs 750 crore has been formally admitted for consideration by the Empowered Group of the CDR. The restructuring proposal ... More


Govt okays Badarpur unit transfer to NTPC
Transfer of power business valued at Rs 408 crore More

Bagga Millennium to buy Khasa distillery
Deal size estimated at Rs 40 cr More

Gujarat Ambuja to merge Ambuja Cement Eastern with itself
Swiss major Holcim's GACL stake set to increase to 24% More

Heineken arm buys 76 pc stake in Aurangabad Breweries
Asia Pacific Breweries (APB), an arm of beer major Heineken, has announced its entry into India by acquiring an initial 76 per cent stake in Aurangabad Breweries Ltd (AUBL). The company will invest about $18 million funded through a ... More

Jain Irrigation arm buys US firm for $6 m
To use FCCB issue proceeds to fund acquisition More

Siemens acquires Elpro's isolator business
Siemens Ltd on Wednesday announced the acquisition of the isolator business of Elpro International Ltd for Rs 25 crore. As part of this deal, Siemens has acquired the manufacturing unit of Elpro located at Hyderabad. The newly acquired business ... More


Devaki Hospital plans to expand, modernise
Seeking venture capital to the tune of Rs 12.5 cr More

Textile unit coming up in AP
Mr S. Shreenivasa Rao, who has resigned as Director, TVS Electronics, is putting up a Rs 60-crore textile spinning unit called Spads Textiles near Vijayawada in Andhra Pradesh. Mr Rao told Business Line that in the first ... More

Emaar opens Novotel Hyderabad
Emaar Properties has announced the opening of its first full-scale hotel — Novotel Hyderabad. It hosted the delegates of the 39th annual meeting of the board of governors of Asian Development Bank (ADB) here on Wednesday. ... More

Sybly shines on expansion plans
Plans to raise funds thru pref allotment, rights issue More

NRB Bearings plans Rs 100-cr expansion
NRB Bearings Ltd, the Rs 258-crore manufacturer of ball and roller bearings, is embarking upon an expansion programme involving an investment outlay of Rs 100 crore, said its President, Ms Harshbeena Zaveri. The expansion will be completed by ... More

Yakult Danone to set up facility here
Yakult Danone India Pvt Ltd (YDI), a joint venture between Japan's Yakult Honsha and Group Danone of France, is set to invest Rs 136 crore towards the production of its fermented probiotic milk drink, Yakult. The company is setting up a ... More


Panacea ties up with Dutch vaccine institute
To make injectible polio vaccines, invest Rs 40 cr on a new formulation plant More

Uma Precision ties up with German co
Uma Precision Ltd (UPL), precision engineering solution provider,has signed a licensee agreement with Germany's Doerken MKS System GmbH & co. Kg for surface coating technology. Mr Rajendra Z. Kankaria, Managing Director and Chief Executive ... More

Jet Air, Lufthansa in frequent flyer pact
Jet Airways and Lufthansa German Airlines have entered into a reciprocal frequent flyer agreement. Under this agreement, frequent flyer members of both Jet Airways and Lufthansa will benefit by earning and redeeming frequent flyer miles, while ... More

DLF-LOR joint venture eyes airport, infrastructure projects
Close on the heels of announcing its joint venture with real estate developer DLF, the UK-based construction major, Laing O'Rourke (LOR), has said it is keen to participate in airport modernisation projects as well as infrastructure projects in ... More


Jessop taken out of BIFR purview
Jessop and Co Ltd has finally been taken out of the purview of the Board for Industrial and Financial Reconstruction (BIFR), two-and-a-half years since the erstwhile central public sector undertaking was taken over by Mr Pawan Ruia in August ... More


Petronet LNG may tie up with Australian company soon for LNG supply
The supply contract would be for 25 years and the price and mode of payment etc would be finalised during the next discussions More


Tata Motors sales up 51% in April
Tata Motors reported a 51 per cent increase in total vehicle sales during April 2006. The auto major sold 36,082 vehicles in the month against 23,889 units in the year-ago period. The company sold 19,182 commercial vehicles in April, up 129 ... More


Rubber gains over 7% in April on strong demand
High prices take their toll on small units; 250 closed in Punjab More

Carbon crash: Fixed price contracts may cushion impact
European buyers withdrawing from CDM market on high volatility More

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RBI Annual Credit Policy 2006-07

Union Budget 2006-2007

Economic Survey 2005-2006

Top Stories
Bagga Millennium to buy Khasa distillery

Rubber gains over 7% in April on strong demand

Global majors eyeing BSNL's cellular project

Non-life insurers active in bulk deposit, CBLO markets

Maagrita begins to export mangoes from AEZ

Rail container operators seek stable cost regime

Mahajan's death: An undeniable loss for BJP

Toilets or TV sets — A tale of distorted priorities

Oriental Bank looking at insurance

In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs

In Depth

Bihar Diary
Orissa Diary
Gender Justice
Simple Economics
Tax Talk

Looking back
Apr. 23-Apr. 29
SAIL raw materials unit posts record production

Ford targets 50 pc rise in sales

MRPL may firm up proposal to lift crude from PMT in May

BILT records 26.8 pc rise in Q3 net profit

HZL hikes prices again

GAIL to fork out Rs 538 cr in Q4 towards subsidy sharing

Posco to invest $200 m this year

Birla, Lodha tussle over commercial space

Bajaj Auto plans Rs 1,500-cr expansion

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