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Friday, December 22, 2006
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CORPORATE

ANNOUNCEMENTS
Volvo shifting Europe truck work to India
To set up bus manufacturing plant near Bangalore More

Essar Oilfields buys rig for $220 m
Essar Oilfields Services Ltd (EOSL), a subsidiary of Essar Shipping & Logistics, Cyprus, said that it had taken delivery of a semi-submersible rig. This acquisition cost the company $220 million, said a statement from the company. The buy is in . More

Royal Enfield to hike Bullet prices
Royal Enfield has decided to hike the prices of its range of two wheelers by Rs 2,200 from 2007, according to an official press release. The price hike effective from January 1, 2007, follows the continuous increase in cost of ... More

OVERSEAS BORROWINGS
Maharashtra Seamless allots FCCB conversion
Maharashtra Seamless Ltd has allotted 8,59,220 equity shares of Rs 5 each of the company at a premium of Rs 248.34 per share upon exercise of option of conversion for 5,000 number of zero coupon Foreign Currency Convertible Bonds (FCCB)s of $ ... More

SREI Infra to raise Rs 675 cr thru ECBs
To fund domestic, overseas operations More

Gayatri Projects to hike capital
Gayatri Projects Ltd plans to increase the authorised capital of the company from the existing Rs 12 crore to Rs 15 crore. The company has decided to issue Foreign Currency Convertible Bonds /other securities to be subscribed in ... More

United Spirits pre-pays $200 m
Loan taken to fund Shaw Wallace acquisition More

DIVIDEND ANNOUNCEMENT
Kerala Power Finance pays 20% dividend
The Kerala Power Finance Corporation (KPFC) has paid 20 per cent dividend to the State Government and Kerala State Electricity Board (KSEB), joint promoters of the company. KPFC recorded an income of Rs 98.94 crore and a net profit of Rs 1.98 ... More

NEW BUSINESS
BHEL bags Rs 165-cr order from IOC
BHEL today said that it has bagged a Rs 165-crore order from IOC for setting up a power plant at the oil major's Haldia refinery in West Bengal. "IOC has placed an order worth over Rs 165 crore for a gas-based co-generation power plant," a BHEL ... More

AWARDS & HONOURS
Award for Noida-based biz woman
Ms Amila Singhvi, Managing Director, International Print-o-Pac Ltd (IPP), has been awarded the `Outstanding Business Woman Of The Year-2006' by PHD Chamber of Commerce of India. The Noida-based IPP is a Rs 350-crore print and packaging ... More

COURTS/LEGAL ISSUES
Priyamvada will: High Court rejects caveatable interest of Birlas
A Division Bench of the Calcutta High Court comprising Mr Justice P.C. Ghose and Mr Justice P.K. Dutt today upheld the order of the Single Judge (in March 2005) who rejected the caveatable interest of Mr K.K. Birla, Mr B.K. Birla and Mr ... More

Ministry's clearance for garnet sand mining legal: Madras HC
The Madras High Court has held that when a firm has been engaged in garnet sand mining in Tirunelveli district for the past two decades after obtaining requisite permission from both Central and Tamil Nadu Governments, it was not open to any ... More

MANAGEMENT
Creating the `next practices'
What has India's growth been in the manufacturing sector from 1995 to 2006, asked the management guru, Prof C. K. Prahalad, at the recent Manufacturing Summit 2006. None came up with an answer. Prof Prahalad ... More

CII keen to become CAM-I member
Membership will give cos access to global research More

MERGERS & ACQUISITIONS
BHPV may be merged with BHEL
The ailing Bharat Heavy Plate and Vessels Ltd here is to be merged with Bharat Heavy Electricals Ltd (BHEL) and the Union Government has taken a decision to that effect, according to a note issued by Mr N. Janardhana Reddy, member of the Lok ... More

Four points to watch in the Corus race
All is not lull in the Corus tussle, because both the players in the race, viz. Tata Steel of India and CSN (Cia Siderurgica Nacional) of Brazil, are busy guessing the cards on the other side. According to informed sources outside India, what can ... More

ABB to acquire Raman Boards
ABB has agreed to acquire the Mysore-based Raman Boards Ltd (RBL) to strengthen its insulation products' business. In a statement on Thursday, ABB said that the acquisition will complement its global insulation components' capacity, which ... More

CORPORATE GOVERNANCE
For South Asian financial integration via the stock market
Corporate governance has become a mandatory condition for listed companies. Hence the regulators will have to introduce uniform governance code, besides similar credit rating standards. More

NEW PROJECTS
Escorts talking to PE firms to raise funds
Escorts Ltd is currently in talks with a clutch of private equity firms to raise money to fund expansion of its construction equipment unit. The company plans to set up two new facilities for construction equipment, one of which will be in ... More

Orissa Govt signs pact with Mittal Steel for 12-mt plant
The Orissa Government on Thursday signed a memorandum of understanding with Mittal Steel Company N.V., an Arcelor Mittal company, for the setting up of a 12-million-tonne per annum capacity mega steel plant in the mineral-rich Keonjhar district ... More

Singur land: Let's discuss, Bengal Govt tells Mamata
Trinamool says CM's letter `meaningless and without substance' More

REGULATORY BODIES & RULINGS
3 cos get nod to market `Simvastatin'
Ranbaxy Laboratories Ltd, Zydus Cadilla and Aurobindo Pharma have received the approval of the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has got ... More

Aurobindo gets USFDA nod
Aurobindo Pharma Ltd (APL) has informed the BSE that the company has received the final approval for Simvastatin tablets in the dosages 5,10,20,40 and 80 mg from the US Food and Drug Administration (USFDA). In another release ... More

INTERVIEW
Lanco Infratech to partner DongFeng for Sasan project
Co management in Bangkok session to chart out its way forward More

RIGHTS ISSUE
SEBI bars Gammon India from trading
Market regulator finds irregularities in 2001 rights issue More

STANDARDS & BENCHMARKS
Mangalore cashew co gets ISO 22000 certification
For food safety management system More

SICK UNITS
CCEA okays revival package for Bengal Chemicals
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a revival package for Bengal Chemicals and Pharmaceuticals Ltd (BCPL) at a total cost of Rs 207,19 crore. The package consists of equity of Rs 55 crore, interest-free loan ... More

OUTLOOK
Space Hospitals to widen services in TN
Space Hospitals Ltd, a Chennai-based telemedicine service provider, plans to add 126 telemedicine centres, 38 satellite medical centres and 9 regional associate hospitals in Tamil Nadu by the end of March 2007. Mr A. Sivakumaran, Chief ... More

Captive mine to meet Usha Martin requirement
The company had also finalised plans to develop a captive coalmine. More

Isogen to expand Ocimum presence in Europe, US
Isogen Life Sciences, a Netherlands-based company, will expand the market space in the oligonucleotides (biomolecular markers), widely used in biotechnology, for Ocimum Biosolutions in Europe and the US. Isogen Managing Director Mr Hans ... More






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Top Stories
BSNL to invest Rs 2,000 cr in broadband infrastructure

IDBI, LIC to co-finance infrastructure projects

Luxury goods makers strike it rich with new millionaires

Bank of India, Union Bank, Dai-Ichi sign MoU for life insurance venture

Review of policy likely on domestic airlines flying abroad

Cabinet nod for Electricity Bill 2005 timely

Orissa Govt signs pact with Mittal Steel for 12-mt plant

BHPV may be merged with BHEL

Looking back
Dec. 10-Dec. 16
Cairns plans to resolve MRPL issue soon

ONGC's KG basin projects may be delayed

UB group's acquisitions to be funded through Trust

Corus gives more time to Tata Steel, CSN to revise bids

Honda to hike scooters output by 20 pc

ONGC may shell out Rs 100 cr for unfinished work

After one more round in the Corus `takeover open'

Petronet stake for Qatar: `Due diligence completed'

Punj Lloyd sets up engineering services outsourcing company

UK Takeover Code silent on parallel schemes of arrangement



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