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MERGERS & ACQUISITIONS: Rio Tinto's Riversdale Mining bid may put Tata Steel in a spot
Rio Tinto's $3.75-billion bid for the Australian miner Riversdale Mining and the latter's enthusiasm for the bid puts its (Riversdale's) largest shareholder, Tata Steel, with a 24.2-per cent stake, in ...

OVERSEAS INVESTMENTS: OVL to swap stake with Petrobras, Ecopetrol
To farm out more than half its stake in Brazilian block. ONGC Videsh Ltd (OVL) has agreed to swap stake with Petroleo Brasileiro SA (PBR) or Petrobras and Colombia's Ecopetrol SA (EC) in two ...

OUTLOOK: Centre's subsidy formula can ‘wipe out' oil refiners
IndianOil, Hindustan Petroleum Corporation and Bharat Petroleum Corporation could virtually be wiped out this fiscal if the Centre caps its compensation package at one-thirds of total fuel losses, going by what a Finance Ministry official said ...

OVERSEAS BORROWINGS: India tops fund raising in London bourse
Essar Energy leads with £1.27 b flotation. Essar Energy's £1.27-billion flotation may have been the most high profile Indian listing in London this year, but it was far from being the ...

BUYBACK: Finally, an attractive exit for Nirma investors
Stock's market price of Rs 231 is fairly high. The offer by Nirma's promoters to mop up the public shareholding and voluntarily delist from the BSE and the NSE should offer an attractive exit opportunity ...

OUTLOOK: Adanis to expand coal terminal at Mundra port
The Adani Group, which synchronised India's first supercritical technology-based 660 mega watt (MW) thermal power unit at Mundra on Wednesday, and announced the commencement of a coal handling terminal at the nearby port, is all set to ...

NEW BUSINESS: Greaves Cotton will supply diesel engines for half-tonne Tata truck
Greaves Cotton has bagged a 10-year contract from Tata Motors to supply small diesel engines for its new half-tonne truck. Scheduled to be launched in the last quarter of this fiscal, it may be christened the ...

OUTLOOK: Strong demand will drive corporate profits in Q3: Crisil
Cos may not be able to fully pass on rise in input costs to customers. Greater demand coupled with spending may boost corporate profitability in sectors such as information technology, hospitality, automobile, retailing and consumer durables in ...

OUTLOOK: CIL shortlists 21 firms to import 250 mt coal
Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's ...

ALLIANCES & JOINT VENTURES: Universal Power signs pact with Chinese company
Bangalore-based Universal Power Transformers Pvt Ltd signed an MoU with Chinese power company SPECO (Shandong Power Equipment Works) today. As part of the deal, SPECO will transfer technology to Universal for manufacture of 220 ...

ALLIANCES & JOINT VENTURES: Pipavav Shipyard in pact with SAAB for defence production
Pipavav Shipyard has signed an MoU with SAAB Dynamics AB as part of a defence co-production initiative taken by Wallenberg Group in India. This will enable Pipavav to enter the army and air force segments, said a statement from ...

OUTLOOK: Will ONGC's FPO make it this fiscal?
IndianOil's follow-on public offering was the first casualty of the crude price spiral and has now been put off to 2011-12. Speculation is rife now that ONGC's issue may also face a similar fate if the subsidy-sharing formula is not ...

MERGERS & ACQUISITIONS: JSW Steel offers Rs 20.54 for Ispat investors
JSW Steel has announced an open offer to acquire shares of Ispat Industries at Rs 20.54 ...

NEW PROJECTS: Cooper Corp sets up facility to make engines
Cooper Corporation Pvt Ltd has set up a plant near its Satara facility to make engines for auto and non-auto applications, including ...

ANNOUNCEMENTS: Aurobindo Pharma EGM okays share split
The shareholders of Aurobindo Pharma Ltd have approved a proposal to sub-divide equity shares of the face value of Rs 5 each into five equity shares of face value of Re 1 each at an extraordinary general body meeting held here ...

DIVIDEND ANNOUNCEMENT: GAIL to pay 20% interim dividend
GAIL (India) Ltd has declared a 20 per cent interim dividend for the financial ...

IPR: Suven Life Sciences gets 4 product patents
Suven Life Sciences Ltd has secured four product patents, two each from New Zealand and Eurasia for its new chemical entities. The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are ...

OVERSEAS INVESTMENTS: KNR Constructions sets up overseas subsidiary
KNR Constructions Ltd, the Hyderabad-based construction and infrastructure services company, has informed BSE that the company had established a wholly-owned subsidiary, KNRCL FZE, in Ras Al Khaimah and all necessary statutory formalities in ...


Columnists: C Gopinath Harish Bijoor Ramanujam Sridhar Radhika Chada K Srikrishna




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Markets (Dec 23)
Nifty (at close)5,980.00(-4.40)
US Dollar(Buy/Sell)45.16/17
Brent crude (a bbl) Rs4,226
Gold (a gram) Rs1,902
Silver (a kg) Rs44,630

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In Focus
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Dec. 12-Dec. 18
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Intrinsic link between corruption and lobbying must be broken: Khurshid




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