The Hindu Business Line : Saturday, October 01, 2005

WHO relists Ranbaxy's anti-retroviral Nevirapine
THE World Health Organisation (WHO) has relisted Ranbaxy Laboratories Ltd's anti-retroviral (ARV) drug, Nevirapine tablets 200 mg, on its pre-qualification list. This drug is widely used as part of first line ARV treatment around the world to ... More

Philips Semiconductors to make sub-Rs 1,000 mobile
A HANDSET for less than Rs 1,000 might soon be a reality for Indian consumers. Philips Semiconductors has assured the Indian market of a "relevant low cost mobile." Speaking to reporters at the inauguration of their new Philips Innovation ... More

Royal Orchid to set up hotel in Hyderabad
THE Bangalore-based Royal Orchid group has announced its foray into Hyderabad where it plans to set up a 72-room business hotel. It has set up Royal Orchid Hyderabad Pvt. Ltd, a subsidiary, to run this hotel. The hotel is expected to commence ... More

Cochin Shipyard declares 7 pc dividend
COCHIN Shipyard Ltd (CSL) has declared a 7 per cent dividend on the paid-up preference share capital amounting to Rs 8.33 crore. This is the second time in a row that the company is declaring dividend, a press release from the shipyard has ... More

Pioneer to pay Rs 2 per share
PIONEER Embroideries Ltd's shareholders have approved 20 per cent dividend or Rs 2 per equity share for the year ended March 31. They have also okayed a bonus issue of one fully paid equity share of Rs 10 each for every two equity shares held. ... More

PSL may bag HPCL project
NEW DELHI: PSL Ltd has said that it has emerged as a successful bidder for the coating contract of the Mundra-Delhi pipeline project of Hindustan Petroleum Corporation Ltd (HPCL). PSL is expected to receive an order of approximately Rs ... More

Zanotech to raise Rs 100 cr
HYDERABAD: The shareholders of Zenotech Laboratories Ltd at the annual general meeting on Thursday have approved issue of securities for raising funds to the tune of Rs 100 crore. The company informed the stock exchanges that its ... More

OVERSEAS BORROWINGS

Electrosteel Castings raises $40 m through GDRs
ELECTROSTEEL Castings Ltd (ECL) has successfully concluded its global depository receipts (GDR) listing on the London Stock Exchange (LSE). The Rs 942-crore ductile iron (DI) pipes major has raised $40 million (Rs 172 crore) through the issue ... More

COURTS/LEGAL ISSUES

Escorts Heart sale: HC orders status quo till Nov 22
THE Delhi High Court on Friday ordered Escorts Ltd and seven others to maintain status quo regarding the sale of Escorts Heart Institute and Research Centre (EHIRC) till November 22. Acting on a petition filed by Mr Anil Nanda, Chairman & MD ... More

CORPORATE BONDS

FCI to raise Rs 5,000 cr thru bonds
THE Food Corporation of India (FCI) plans to raise Rs 5,000 crore through issue of bonds to restructure its debt. It has sought approval from the Government for this. FCI had earlier this year raised Rs 5,000 crore through bonds issuance. "We ... More

MERGERS & ACQUISITIONS

Petroleum Ministry to approach Cabinet for IBP-IOC merger
AWAITING the necessary approvals since last December, the proposal to merge IBP Co Ltd with Indian Oil Corporation Ltd may finally come through. The Petroleum Ministry is set to move Cabinet to get the mandatory approval for the merger. The ... More

Reliance Cap buys Divi's shares
HYDERABAD: Reliance Capital Asset Management Ltd has informed the stock exchanges that Reliance Vision Fund, scheme of Reliance Mutual Fund, and Reliance Portfolio Management (acquirer and persons acting in concert) have acquired further ... More

Finnish Fund buys stake in APPML
HYDERABAD: Finnish Fund for Industrial Cooperation Ltd has informed the stock exchanges that it has acquired 13,75,003 shares of Andhra Pradesh Paper Mills Ltd (APPML) on September 21, 2005. The mode of acquisition is rights issue through ... More

NEW PROJECTS

Essar Oil arm plans captive power plant in Gujarat
ESSAR Oil Ltd told the Bombay Stock Exchange on Friday that Vadinar Power Company Ltd, a wholly owned subsidiary of the company, is setting up a 77-MW captive co-generation power plant in Vadinar in the Jamnagar district of Gujarat. The power ... More

ALLIANCES & JOINT VENTURES

RMG pact with Autometers for metering equipment
RMG Group of Germany, which specialises in design and fabrication of natural gas pressure reduction and metering stations as well as meters, pressure regulators, flow computers among others has signed a joint venture agreement with India's ... More

SOCIETY & DEVELOPMENT

Agro Tech Foods' gesture to ailing kids
AGRO Tech Foods Ltd, a Rs 1,200-crore company in the premium segment of edible oils, has joined hands with Narayana Hrudayalaya, a heart care hospital in Bangalore, to assist children suffering from heart problems. The company has agreed to ... More

DIVERSIFICATION

Kanika Info appoints consultant for proposed infrastructure projects
KANIKA Infocom has appointed M.N. Dastur & Co as consultant for its proposed Rs 160-crore project that will ensure its diversification into infrastructure development. The company, which is set to change its name to Kanifa Infrastructure and ... More

OUTLOOK

Toyota Kirloskar studying feasibility of used car biz
TOYOTA Kirloskar Motor Pvt Ltd is studying the feasibility of used car business before getting into it. According to Mr Toyohiko Ino, Director - Marketing, Toyota Kirloskar Motor, the used car business involves the company itself offering ... More

Hatsun Agro bullish on dairy ingredient exports
Dairy ingredients, primarily milk powder, are being exported to West Asia, South-East Asia and Canada. Hatsun expects to consolidate its export position in the current year. More

PERFORMANCE

ONGC asked to share Rs 2,830-cr subsidy burden in Q2
THE Union Ministry of Petroleum and Natural Gas has asked ONGC to share Rs 2,830-crore subsidy burden in the second quarter. With this, the company will share a subsidy bill of Rs 5,706 crore during the first half of 2005-06. This is against a ... More

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