Financial Daily from THE HINDU group of publications
Thursday, May 18, 2006
Markets (May 17)
BSE Sensex12217.81(+344.08)
S&P CNX Nifty3635.10)(+111.80)
US Dollar (Buy/Sell)45.22 (-0.28)


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CORPORATE

ANNOUNCEMENTS


Rain Calcining's maiden dividend
The board of directors of Rain Calcining Ltd at its meeting held on Wednesday has decided to recommend a maiden dividend of 8 per cent on the paid-up equity capital. However, it would be subject to approval of the lenders in ... More

ONGC despatches first crude oil cargo to MRPL
The first crude oil cargo from ONGC's marginal field was despatched to Mangalore Refinery & Petrochemicals Ltd (MRPL). According to a statement issued here on Wednesday, ONGC said the cargo of 57,337 tonnes of crude oil from the marginal field . More

Everest bags Hyundai PR
NEW DELHI: Everest Public Relations, an arm of Everest Brand Solutions, has announced that it has bagged the account of Hyundai Motor India Limited (HMIL) - the second largest passenger car manufacturer in India - following a competitive ... More

Nagarjuna Const bags Rs 362-cr orders
Nagarjuna Construction Company Ltd (NCC) has secured new orders aggregating Rs 362 crore. The company informed the stock exchanges that these orders include a pipeline project, Sohar Water Network phase-I, valued at Rs 116 crore ... More

OVERSEAS BORROWINGS


Aurobindo Pharma raises $200 m through FCCBs
Aurobindo Pharma Ltd has issued and allotted $200-million foreign currency convertible bonds (FCCBs) on Tuesday in two tranches. While the first tranche consists of $150 million, the second tranche consists of $50 million. The company has ... More

FINANCIAL PERFORMANCE


Graphite India Q4 net up at Rs 28 cr; to pay 60 pc
The board of directors of Graphite India Ltd (GIL) have recommended a dividend of Rs 6 per equity share of Rs 10 each for the year ended March 2006 against Rs 4.50 per share declared last year. The company has been able to declare higher dividend ... More

MERGERS & ACQUISITIONS


L&T forays into dredging business
Larsen & Toubro has entered the dredging business by acquiring a majority stake in International Seaport Dredging Pvt Ltd, an India-based company. L&T acquired 61 per cent stake in the company for an undisclosed amount from Belgium ... More

CORPORATE GOVERNANCE


Shell India draws up safety standard for transporters
Shell India is drawing up a safety standard for commercial transporters, which will incorporate global best practices of the company. "Safety is a business issue for Shell," the company's Manager for Corporate Responsibility, Dr Shailaja D ... More

NEW PROJECTS


OCL India to raise funds for capacity expansion
Expansion at Rajgangpur plant to be completed in 28 months More

Suryajyoti Spinning Mills to expand cotton yarn capacity
Project likely to be completed by first quarter of 2006-07 More

Suzlon plans Rs 550-cr wind power projects in Kerala
Identifies sites in Idukki, Palakad districts More

Indo Asia Leisure to open 3-star hotels
Indo Asia Leisure Services Ltd has announced establishing three-star hotels in Jaipur and Humpi (Karnataka) and taking on a long-term lease for three hotels in Udaipur, Jodhpur and Coorg as part of its expansion plans. The ... More

Nippon Audiotronix to set up car audio unit
Nippon Audiotronix, a Delhi-based company that deals in car audios, security systems, monitors and navigation devices, plans to set up a new plant for manufacturing car audios. Mr K.S. Goindi, Managing Director, Nippon Audiotronix, said that ... More

OVERSEAS INVESTMENTS


Bajaj Hindusthan unit in Brazil
Bajaj Hindusthan Ltd has informed BSE that it has initiated the process of setting up a subsidiary in Brazil. The board of directors has approved the setting up this subsidiary. Shares of the company ended higher by Rs 18.05 at ... More

ALLIANCES & JOINT VENTURES


Bobba group, Menzies form venture for cargo handling
The Bangalore-based Bobba group and its partner Menzies Aviation plc have formed a 51:49 venture to pursue cargo handling at Bangalore's greenfield international airport. Their combine, one of the two airport cargo concessionaires, plans to ... More

OUTLOOK


`Corporates upbeat on economic scenario'
A majority of the 439 respondents representing the corporate sector felt that the current overall economic conditions as well as industry-level economic scenario are "moderately to substantially'' better compared to the last six months, according ... More

Lupin expects to have product in Europe early next fiscal
Fourth quarter net profit rises 131 pc, sales up 45 pc More

PEOPLE


Arun Anand is CEO of Goetze
The board of directors of Goetze (India) Ltd (GIL) has appointed Mr Arun Anand as GIL's Chief Executive Officer (CEO). He will continue to serve as whole-time director on the company's board. GIL's board also appointed Mr Anil ... More

New chief for Hind Zinc, Vizag
Mr K. Siva Prasad assumed charge as the head of Hindustan Zinc Ltd, Visakhapatnam, on Wednesday. Mr D.K. Ghosh was the outgoing General Manager, according to a press release issued by the company. Mr Siva Prasad joined HZL in ... More


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