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Tuesday, July 18, 2006
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CORPORATE

BUYBACK
ICI board to consider share buyback
ICI India Ltd, which manufactures chemicals and paints, today said that its board plans to meet on July 25 to consider buying back the company's shares, using some of the idle cash. The company will spend Rs 125 crore of the Rs 200 crore cash ... More

PREFERENTIAL ALLOTMENTS
Radico Khaitan plans $20-m pref issue
Liquor maker Radico Khaitan Ltd said on Monday it would issue convertible preference shares to affiliates of US-based portfolio investor Ruane, Cunniff and Goldfarb Inc to raise $20 million (about Rs 92 crore). The cumulative ... More

Zenotech offers 6.94% equity to Ranbaxy
The board of directors of Zenotech Laboratories Ltd (ZLL) at a meeting here on Monday has approved offering equity stake of up to 6.94 per cent to Ranbaxy Laboratories Ltd. The ZLL board has cleared preferential allotment of 20-lakh equity ... More

NEW BUSINESS
RMCL bags Rs 40-cr order
Radha Madhav Corporation Ltd (RMCL), a leading manufacturer of various packaging applications, has bagged a Rs 40-crore order from the Karnataka Milk Federation (KMF) to manufacture printed milk bag packaging. The order is for two years and the ... More

Suven bags Rs 20-cr order
Suven Life Sciences Ltd has bagged an order worth Rs 20 crore for custom synthesis. A release said that one of its phase-II projects in contract research and manufacturing services (CRAMS) has moved into phase-III, resulting in ... More

Doshion bags water treatment order
The Rs 220-crore Delhi-based water management company, Doshion Ltd, has bagged an order for turnkey execution of Hindustan Zinc Ltd's Phase-II Chanderia Lead Zinc Smelter Expansion Project. The order involves setting up ultra ... More

NEW PROJECTS
Cobra Beer bullish on India
Bullish on the Indian market, the Karan Bilimoria-promoted Cobra Beer Ltd on Monday said it would invest "several million pounds'' in the country out of the 27.5-million it had raised to fund expansion. The amount would partly fund the company's ... More

OVERSEAS INVESTMENTS
Pricol may begin production in Indonesia from December
Also plans to set up unit in Iran to sell its products More

Ranbaxy's Japanese unit launches antibiotic drugs
Ranbaxy Laboratories Ltd (RLL) on Monday announced that Nihon Pharmaceutical Industry Ltd (NPI), a joint venture between RLL and Nippon Chemiphar Ltd (NC), has successfully launched Clarithromycin 50mg, 200mg tablets and Terbinafine 125mg tablets ... More

ALLIANCES & JOINT VENTURES
Glenmark ties up with Generics UK
The Mumbai-based Glenmark Pharmaceutical Ltd's wholly owned subsidiary in the UK has entered into an agreement with Generics UK, a unit of Germany's Merck KgaA, for eight dermatological products. The deal between Glenmark ... More

INTERVIEW
Buyback to use Rs 125 cr of cash surplus: ICI India
The ICI India board is set to meet on July 25 to mull buyback of shares at a maximum price of Rs 350 per share. The stock is now at Rs 311 and has perked up considerably after the announcement. The Chief Financial Officer and Executive Officer ... More

DIVERSIFICATION
Indo Rama to invest Rs 25 cr in retail venture
Polyester major Indo Rama announced its entry into the fast expanding retail sector by entering into a franchise agreement with US-based Office 1 Superstore International to sell office supplies in the country. Indo Rama has floated a separate ... More

RIGHTS ISSUE
SAAG RR files for rights/public offer
SAAG RR Infra Ltdhas filed its offer document with SEBI for rights/public offering of Rs 40 crore. The company proposes to use the proceeds of the issue to meet the working capital requirements for expansion of infrastructure business in its ... More

SICK UNITS
Fresh bids invited for Arunachalam Sugars
Arunachalam Sugar Mills Ltd is on the block again, with the Official Liquidator calling fresh bids on orders of the Madras High Court. Bids are now being invited for the movable and immovable properties of Arunachalam Sugar Mills at ... More

OUTLOOK
Amira Foods enters domestic branded basmati segment
The Rs 300-crore Amira Foods Ltd is entering the domestic branded basmati rice market. "We plan to launch `Amira' brand in the domestic market soon. Within the next two years we plan to clock Rs 90-100 crore, selling up to 45,000 tonnes of ... More

Michelin project not cancelled, `only postponed'
`Room for more players in India though the competition is tough' More

Actis Biologics to invest Rs 100 cr in India
ABPL is developing four different technology platforms and biotech products are expected within the next two to three years. Gets $1m grant from ICICI for project More

PERFORMANCE
ONGC moves up 52 points in Fortune listing
Oil and Natural Gas Corporation Ltd (ONGC) has moved up 52 points in 2006 Fortune Global 500 listing. The company is positioned 402 in the new Fortune tally, up from 454 last year. Its turnover considered by Fortune is $16,609 million, up 20.8 ... More

HAL ranked 45th in aerospace world
Hindustan Aeronautics Ltd, ranked 45, figures among the global league of top 50 aerospace companies. It has moved up six slots up since last year's rank of 51, a company release said. The US-based Defense News released the list of top ... More






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Top Stories
Israel may grant duty-free apparel imports

`IT stocks turn out of favour for mid-cap funds'

Michelin project not cancelled, `only postponed'

Are KYC norms crossing the limits?

Cos should see marketing as a strategic function: Kotler

Hewitt launches Asia-Pacific salary increase survey

Rupee touches 3-year low

Why did Agni-III lose its fire?

Bear onslaught takes market further southward

ONGC moves up 52 points in Fortune listing

Looking back
Jul. 9-Jul. 15
Arcelor-Mittal may drop Jharkand project

Ranbaxy set to acquire equity stake in Zenotech

Samtel, HAL to form joint venture co

OVL has two more weeks to bid for Rosneft stake

DaimlerChrysler to launch high-end E-class

UB Group may buy S. African wine cos


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