Financial Daily from THE HINDU group of publications
Friday, May 26, 2006
Markets (May 25)
BSE Sensex10666.32(+93.17)
S&P CNX Nifty3177.70 (+62.15)
US Dollar (Buy/Sell)45.89 (+0.33)


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CORPORATE

ANNOUNCEMENTS
Focus Energy discovers gas in Rajasthan
Focus Energy Ltd, formerly known as Phoenix Overseas Ltd, has recorded a significant gas discovery in its onshore Rajasthan Block RJ-ON/6 in well SGL-1. This is a pre-New Exploration Licensing Policy (NELP) block, a company official said, ... More

Essar bags GAIL gas pipeline project
Essar Constructions Ltd along with Daqing Petroleum Engineering International, China, has won the contract for laying a 30-inch high pressure gas pipeline from GAIL (India) Ltd. The Rs 129-crore pipeline will cover the distance ... More

PREFERENTIAL ALLOTMENTS
Vivimed Labs plans $75-m pref issue
Vivimed Labs Ltd is planning to raise funds to the tune of $75-million through preferential issue of certain securities in the global markets aimed at part financing its expansion programme. The company has informed the stock ... More

AWARDS & HONOURS
Award for Jagson Airlines president
Mr Uttam Kumar Bose, President and Chief Operating Officer, Jagson Airlines, has been awarded the Bharatiya Shiromani Puraskar for his contribution to growth in the private aviation sector. Also, Jagson Airlines has received a Gold Medal from the ... More

FINANCIAL PERFORMANCE
Indraprastha Gas FY net rises 14.5 pc
Indraprastha Gas Ltd (IGL) the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Territory of Delhi on Wednesday announced that the company's gross turnover has increased to Rs 609.62 crore in ... More

IPR
RPG Life gets Australian patent
RPG Life Sciences Ltd (RPGLSL) has received an Australian patent for its novel formulation of cyclosporin, an immunosuppresant used in patients that have undergone transplants. The patent would allow RPGLSL to market the ... More

MERGERS & ACQUISITIONS
Orchid gearing up for overseas buys
Set to enter European market this year More

Lupin to pick up 51 pc in Belgium's Artifex
Lupin Ltd has signed a memorandum of understanding to acquire 51 per cent equity in Belgium's Artifex Finance CVA, along with its subsidiaries including Dafra Pharma Ltd, a company focussed on anti-malarials. Artifex is the holding company ... More

Acquisitions on the radar for Ranbaxy's promoter-scions
Focus on consolidation; Fortis looks at inorganic growth More

NEW PROJECTS
Tata Motors to expand UP plant; invest Rs 350 cr
Tata Motors has decided to expand its facility in Uttar Pradesh, including the addition of a new assembly line for commercial vehicles, with an investment of Rs 350 crore. "The expansion will include setting up a paint shop, welding shop and a ... More

Prajay to begin work on techno park in July
More

ALLIANCES & JOINT VENTURES
OVL signs production sharing contracts with PetroVietnam
Gets both blocks it bid for against international competition More

Cendant Travel signs pact with Virgin Blue
Next-gen passenger services system from IBS Software More

INTERVIEW
Thermax eyes 30% growth in profits, revenues
Mr Prakash Kulkarni, Managing Director, Thermax, says the company is eyeing a growth of 30 per cent in revenues and profits. The present position of the order book is at Rs 1,550 crore, with 90 per cent in the energy domain. He says the ... More

OUTLOOK
L&T making enquiries to import cement
Says even if prices are higher, quality will be better More

Live Market Watch seeks tie-up with BSE
The company, which brings NSE feed to subscribers' mobile phones, is in talks with the boursesand with stock broking outfits. More

Hindalco defers plant shutdown
Hindalco Industries Ltd has deferred the planned shutdown of a copper smelter at Dahej in Gujarat as it was found in good condition. The non-ferrous metals major had planned to shut down the smelter from May 15 for routine ... More

Sical to double fleet strength
Sical Logistics plans to nearly double its fleet strength to expand its road transportation operations for bulk and containerised cargo during the current year. According to a press release from the company, Sical will add 300 vehicles in ... More

PEOPLE
No extension for Subir Raha
Senior-most director R.S. Sharma acting CMD of ONGC More

TRENDS
MARKET SURVEY
Hangovers cost Bangalore corporates Rs 47 cr
On an average, a Bangalorean spent around Rs 200 for his drink during the weekends. More


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Top Stories
US security rules will drive up shippers' costs


Expedite gas procurement, NTPC told

Orchid gearing up for overseas buys

Govt moots OTCEI recast for SME trading

L&T making enquiries to import cement

Market has room for upside in yellow metal

New MRP label on drugs mandatory from July

Wheat arrivals rise as prices begin to decline

World coffee output, exports decline

US economy wobble

In Focus

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

Bihar Diary
Orissa Diary
Gender Justice
Simple Economics
Tax Talk
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Looking back
May. 14-May. 20
SIDBI to raise Rs 3,000 cr from multilateral agencies

Hard bargain with pvt equity firms

ITC e-Choupal wins Stockholm Challenge Award

Zuari sells cement biz for Rs 600 cr

Ford sees rising demand for total maintenance plan



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