Financial Daily from THE HINDU group of publications
Saturday, May 13, 2006
Markets (May 12)
BSE Sensex12285.11(-150.30)
S&P CNX Nifty3650.05 (-51.00)
US Dollar (Buy/Sell)45.03 (+0.07)


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CORPORATE

RESEARCH & DEVELOPMENT


Novo Nordisk to conduct three trials this year
To be done on patients across the country More

ANNOUNCEMENTS


New `Reliance Petrol' to cost Rs 2 more
New formulation, heavy investments cited as reasons More

Grasim to cut production at Nagda
Grasim Industries will temporarily stop production at its viscose staple fibre (VSF) plant and also reduce production at its chemical plant in Nagda, Madhya Pradesh. The company has cited water shortage as the reason but also said that the ... More

OVERSEAS BORROWINGS


Apollo Hospitals to raise $115 m
Apollo Hospitals Enterprise Ltd intends to raise $115 million (Rs 520 crore) through an issue of either GDRs or ADRs or FCCBs. Company sources said that the funds would be used for "expansion programmes". In a notification to the stock ... More

Tricom closes $5 m GDR issue
Business process outsourcing company Tricom India Ltd said it has closed its GDR issue amounting to $5.026 million (around Rs 22.6 crore). The GDRs were listed on the Luxembourg Stock Exchange on May 5, said a statement from the ... More

MERGERS & ACQUISITIONS


VIP, Blow Plast boards okay 1:1 merger ratio
VIP Industries Ltd would offer one share of the company for every share held by shareholders in Blow Plast. The boards of directors of VIP Industries Ltd and Blow Plast Ltd on Friday approved the merger of the two companies. The merger would ... More

NEW PROJECTS


Small car project: Tatas set to choose Bengal
Formal announcement likely in next few weeks More

Dwarikesh Sugar to set up greenfield project in UP
Dwarikesh Sugar Industries Ltd (DSIL) has informed the Bombay Stock Exchange & National Stock Exchange about the setting up of its new greenfield project at `Dwarikesh Dham' in Bareilly, Uttar Pradesh that will be operational by the sugar season More

Indian Seamless begins expansion project
Tube making output to go up 3.2 lakh tonnes/year More

Manmohan to lay stone for VSP project
The Prime Minister, Dr Manmohan Singh, is scheduled to visit Vizag and lay the foundation stone for the Rs 8,692-crore expansion project of Visakhapatnam Steel Plant on May 20. The expansion project envisages doubling the capacity of the plant ... More

Tata Steel's jiggling plant
The jiggling and hydro-cyclone plant at Noamundi Iron Mine of Tata Steel situated in West Singhbhum district at Jharkhand was inaugurated recently. The capacity of the plant facility is about 300 tonnes per hour. The plant has ... More

TRADE & LABOUR UNIONS


Strike at Sirpur Paper
Sirpur Paper Mills Ltd has informed the stock exchanges that the workers of its mill at Sirpur-Kaghaznagar had gone in for an illegal strike on Wednesday, resulting in total stoppage and disruption of production. ... More

ALLIANCES & JOINT VENTURES


Mohan Meakins yet to pick beer biz partner
Mohan Meakins has said it will take another four-five months before the joint venture for its beer business can be put in place. Though the Mohan Meakins' Chairman, Brig Kapil Mohan, declined to comment on who would finally pick up a stake, he ... More

SOCIETY & DEVELOPMENT


Responsibilities of corporate citizens
Corporate ethics would not only be fulfilling but will be tax rewarding too. With many favourable court decisions, India Inc. should have no difficulty in fulfilling its social obligations. More

OUTLOOK


Reliance likely to invest $6-7 b in KG basin
First phase of gas project to be ready by mid-2008 More

Mankind Pharma eyes Rs 1,000-cr turnover in 5 yrs
To set up manufacturing unit in Himachal, R&D unit in NCR More

PERFORMANCE


Stone India net rises; to pay dividend after 6-year gap
The board of directors of Stone India Ltd (SIL) has recommended a dividend of 10 per cent for the year 2005-06 in which the company posted a record net profit of Rs 8.3 crore, compared to Rs 2.3 crore in 2004-05. The dividend is being ... More
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Apr. 30-May. 6
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