Financial Daily from THE HINDU group of publications
Tuesday, December 13, 2005
Markets (December 12 - 15.30 IST)
BSE Sensex9133.67(+66.39)
S&P CNX Nifty2776.20 (+19.75)
US Dollar (Buy/Sell)46.09/46.22


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CORPORATE

ANNOUNCEMENTS


JK Cement promoter to offload 26 pc stake
MR Yadhupati Singhania, promoter and Managing Director of JK Cement Ltd, will be off-loading 26 per cent of his stake for raising around Rs 250-300 crore, early next year. JK Cement, which is popular for its JK White Cement, will utilise the ... More

Bhagyanagar Metals shortlisted for two housing projects
BHAGYANAGAR Metals Ltd informed the BSE today that the company has been shortlisted as the highest bidder for development of housing projects on a 52-acre plot in Visakhapatnam and another commercial-cum-residential deal at Kukatpally, ... More

Ucal Fuel to exit joint venture with Engelhard
UCAL Fuel System proposes to divest its 30 per cent stake in Engelhard Environmental Systems (India) Pvt Ltd. It intends to sell its holding of 27.53 lakh shares to Engelhard Environmental Asia Pacific LLC. Ucal Fuel is in the process of ... More

Aurobindo Pharma ARV drug in WHO list
AUROBINDO Pharma Ltd has announced that the World Health Organisation, Geneva has included one more of its products — Nevirapine 200 mg tablets — in its pre-qualification list. This is the company's fourth product to be included in ... More

OVERSEAS BORROWINGS


Eastern Silk to issue Rs 200-cr FCCBs to fund expansion plans
EASTERN Silk has planned Rs 80-crore capital expenditure for raising its silk fabric producing capacity at its existing unit in Bangalore and setting up a new unit for carpet and made-ups such as curtains and pillow covers. The stock today ... More

AWARDS & HONOURS


Natco bags patent appreciation award
NATCO Pharma Ltd has announced that the Indian Drug Manufacturers' Association (IDMA) has selected it for the Patent Appreciation Award. In a release on Monday, the company said that the national level award would be given to it at a function ... More

MERGERS & ACQUISITIONS


McLeod Russel close to acquiring Doom Dooma Tea — Size of deal likely to be Rs 50-60 cr
MCLEOD Russel India Ltd, a BM Khaitan Group company and a bulk tea producer, is close to acquiring Assam-based Doom Dooma Tea Co Ltd, a wholly owned subsidiary of Hindustan Lever Ltd. Industry sources said McLeod Russel, which was recreated ... More

Opto Circuits buys German stent co
THE Bangalore-based Opto Circuits (India) Ltd has acquired Germany's EuroCOR GmbH, a company that designs and manufactures stents, for a consideration of euro 11 million (Rs 59.91 crore). Opto Circuits has a presence in the non-invasive ... More

Apollo board clears 51% stake buy in Imperial
APOLLO Hospitals Enterprise Ltd has informed the Bombay Stock Exchange that the board of directors at its meeting has approved the acquisition of 51 per cent equity stake in Imperial Cancer Hospitals and Research Centre Pvt Ltd, which is ... More

M&M to acquire 88.41 pc equity stake in Plexion
MAHINDRA & Mahindra Ltd (M&M) has said that it would be acquiring an 88.41-per cent equity stake in Plexion Technologies (India) Ltd. M&M has entered into an agreement with Plexion Technologies, Mauritius, a group company of J.P. Morgan, More

OVERSEAS INVESTMENTS


Carborundum Universal sets up unit in UAE
CARBORUNDUM Universal Ltd has informed the stock exchanges that it has set up a 100 per cent subsidiary in Ras Al Khaimah, UAE, "for marketing its products — abrasives, ceramics, refractories and electrominerals in the West Asia." The ... More

ALLIANCES & JOINT VENTURES


JRG, UAE Group in pact for stock, commodity broking operations
THE JRG group has got into a joint venture with the UAE Group, headed by Mr Hazza Bib Mohammed, to set up a 60:40 partnership company, JRG Middle East Securities LLC. The new company will undertake stock and commodity broking operations in Dubai ... More

SICK UNITS


TRL promoters to hold talks with Indian Bank
THE Coimbatore-based NDEE group, promoters of the sick Travancore Rayons Ltd (TRL) at Perumbavoor, which have already reached a one-time settlement with the IDBI recently, will now hold discussions with the Indian Bank officials on December 17 to ... More

PSU recast board okays FACT revival package
The company had requested the Centre to write off 50 per cent of the total outstanding loan amounting to Rs 574 crore and convert the balance 50 per cent into equity. More

OUTLOOK


Bajaj plans fresh bike, scooter rollouts in 2006
BAJAJ Auto Ltd (BAL) is getting ready to take on its nearest competition in the country's increasingly crowded motorcycle market. Come February and the company will launch a new bike in the value segment of the motorcycle, which, along with the ... More
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Top Stories
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Fear of `conflict diamonds' entering country — Mines, Industry Ministries differ over 100 pc FDI in diamond mining

Debit card usage growing fast

Sugar production may touch 187 lakh t

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In Focus

Trends in IT - 2005
FDI in retail sector
Indian Aviation: Sky is the limit
India Inc's bonus bonanza
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Dec. 4-Dec. 10
Dunlop, Falcon acquisition — Cross-country holdings made it a complex deal, says Ruia

Suzuki all set to launch 125-cc bike in January

BMW looking to source components from India — Signs pact with TN for CKD plant

Sumitomo group plans 3rd subsidiary in India

Bombay HC approves RIL demerger


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