The Hindu Business Line : Saturday, September 10, 2005

Manali Petrochemicals to reduce share capital
MANALI Petrochemicals Ltd, in which SPIC (Southern Petrochemical Industries Corporation Ltd) has a 38 per cent holding, plans to reduce its share capital and also write-off a portion of its share premium account to completely wipe out its ... More

Panacea Biotec to raise up to Rs 500 cr
THE board of Panacea Biotec has approved plans to raise up to Rs 500 crore from domestic or international markets through issue of equity shares, debentures, FCCBs, euro issue or other securities. It will convene an extraordinary general meeting ... More

GIPCL plans Rs 275-crore public issue by month-end
GUJARAT Industries Power Company Ltd (GIPCL) plans to go for a public issue by the month-end to raise Rs 275 crore. "We are waiting for a final clearance from the Securities and Exchange Board of India. We hope to get the green signal in the ... More

Wal-Mart eyeing the Indian market
WAL-MART is raring to have a go at the Indian market where it is looking forward to competing in what it terms a "robust retail environment." But it will wait for the Indian Government to announce the legal framework of investments before it ... More

CORPORATE DISPUTES

Beeyu Overseas facing takeover threat?
WITH increasing volume of shares being traded in the Bombay Stock Exchange (BSE) in recent times, there are conflicting claims about hostile interest in the stock of city-based tea manufacturer Beeyu Overseas Ltd. Mr S.K. Khetan, a high net ... More

OVERSEAS BORROWINGS

Ranbaxy to raise $1.5 b, list on US bourses
PHARMACEUTICAL companies are building war chests to fund their growth plans. The board of Ranbaxy Laboratories Ltd today gave a blanket approval for raising resources up to $1.5 billion through appropriate securities such as foreign currency ... More

Sterling Biotech raises $140 m from FCCBs
PHARMA-GRADE gelatin maker Sterling Biotech Ltd has concluded the issue of $140 million foreign currency convertible bonds (FCCB), with an increase option for $35 million. The bonds will be listed on the Singapore Stock Exchange, subject to ... More

MERGERS & ACQUISITIONS

Dr Morepen brand to return to Morepen Labs
MOREPEN Laboratories Ltd has increased its holding in Doctor Morepen Ltd (DML), a company which was hived off into an independent entity. With this, DML will become a subsidiary of Morepen Lab and the popular brand Dr Morepen will return to the ... More

ACC gets shareholder nod for merger of Bargarh Cement
THE Associated Cement Companies has acquired permission from its equity shareholders for amalgamation of Bargarh Cement Ltd with itself. This follows the Bombay High Court order on August 5, said ACC, in a notice to the stock exchanges on ... More

NEW PROJECTS

Tata Steel to go in for Rs 1 lakh-crore capacity expansion
WITH global steel demand expected to touch 1,000 million tonnes in the next 25 years at an annual growth rate of around 3-4 per cent, Tata Steel has firmed up plans to augment its steel making capacity to 33-34 mt per annum (mtpa) by 2015 at an ... More

TRADE & LABOUR UNIONS

Take us back
Members of Maruti Udyog Employees' Union at a demonstration seeking reinstatement of the dismissed employees at the venue of Maruti AGM in the Capital on ... More

EVENTS

HR mobilisation a big challenge, says Maran
THE biggest challenge in India's quest to become an economic powerhouse is mobilisation and training of human resource, said Mr Dayanidhi Maran, Union Minister of Communications and IT, here today. Delivering the presidential address at the ... More

`Independent director must have integrity, knowledge'
IN a meeting that forms a part of Confederation of Indian Industry's ongoing Corporate Governance Series, Mr Sunil Bharti Mittal, Chairman and Group Managing Director, Bharti Enterprises, said, "There are two types of independent directors — ... More

SOCIETY & DEVELOPMENT

Wal-Mart shows the way in Katrina relief measures
EVEN as a shell-shocked America and its Government tries to grapple with Hurricane Katrina's massive trail of destruction in New Orleans, retailer Wal-Mart has emerged as one of the biggest contributors to relief measures that are gathering steam ... More

SICK UNITS

Govt approves revival of IDPL
THE Chemicals and Fertilisers Ministry has decided to revive all the five ailing units of Indian Drugs and Pharmaceuticals Ltd (IDPL) at an estimated cost of Rs 200 crore. The decision was taken at a high-level meeting chaired by the Chemicals ... More

OUTLOOK

Opto Circuits in talks with US cos for R&D venture
OPTO Circuits (India) Ltd, manufacturer of non-invasive healthcare apparatus, is in talks with leading companies in the US for a joint venture in research and development. Opto, which has emerged as a leading OEM and retail market supplier to ... More

Usha Brita lines up water purifier systems
USHA Brita, part of the diversified Shriram group, is eyeing the growing Rs 1,000-crore water purifier market, with its range of water purifying products and services. The Managing Director of Usha Brita, Mr Anupam Bharat, said the water ... More

ONGC mulls using Shell tech for coal gasification facility
ONGC seems to be adding a new twist to its plan to enter into the coal gasification business. In addition to its plans for underground coal gasification (UCG), in technical collaboration with the Stochinsky Institute of Russia, ONGC is now ... More

Maruti to roll out diesel cars by end-2006
UPBEAT about the potential of 25 million two-wheeler buyers in the last five years upgrading to cars, Maruti Udyog Ltd (MUL) today said it was all set to tap this opportunity with an aggressive product rollout plan and would launch diesel cars by ... More

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