Business Line 20102006

Business Daily from THE HINDU group of publications

Friday, October 20, 2006

HOME PAGE Reliance net rises 9 pc to Rs 2,709 cr Higher raw material costs impact refining margins More Reliance Petro spends Rs 4,054 cr on refinery project Reliance Petroleum Ltd (RPL) has spent Rs 4,054.50 crore on its refinery under construction at Jamnagar as on September 30 against the projected Rs 7,266 crore, the company said on Thursday. In a notice to stock exchanges, the company said the ... More Petrochem comes to Reliance rescue Reliance Industries' refining business, as anticipated, was an underperformer during the second quarter. The growth momentum was provided by the petrochemicals business, which had its fair share of challenges during the quarter in terms of a ... More UP mills to be served notice for excess sugar sale Mills cannot dispose of or even remove sugar from their bonded godowns without an FSQ release order from the Directorate. More `Unionise call centre employees' Bi-national report highlights disparities More 23 Indian cos in Forbes Asia list of `best under a billion' List includes Asian Paints, Bharat Forge, Cipla More Ranbaxy net rises seven-fold Driven by growth in key geographies; to pay 50 pc interim More HDFC net up 23% in Q2 Middle income segment driving home loans growth More Healthcare-related outsourcing to drive IT, BPO growth More high-end work, more revenues, more employment More Stock markets may light up, post-Diwali Traditionally strong third quarter to aid rally More Shree Cements: Riding infrastructure boom The Shree Cements stock, which dropped by one per cent on the NSE to close at Rs 1,138.20, is being tracked by analysts in the context of what is

being seen as the company's aggressive expansion plan. The Bangur group outfit, among the larger ... More IMD declares onset of N-E monsoon But no sign of `low'/depression materialising over the Bay More

CORPORATE DIVIDEND ANNOUNCEMENT Ingersoll Rand to pay interim Ingersoll Rand India Ltd has declared an interim dividend of Rs 3 per share (30 per cent) for fiscal 2006-07 on the back of surging profits during the quarter ended September 30. The company reported a net profit of Rs 14.7 crore ... More Satluj Jal pays dividend NEW DELHI: Satluj Jal Vidyut Nigam Ltd (SJVNL) has declared a dividend of Rs 159.43 crore for the last fiscal. In lieu of its 75 per cent stake in the project, the Centre has been given a dividend payout of Rs 119.57 crore, a company ... More AWARDS & HONOURS 23 Indian cos in Forbes Asia list of `best under a billion' List includes Asian Paints, Bharat Forge, Cipla More MANAGEMENT The organisation and I How selfishness can be good for your career graph... More MERGERS & ACQUISITIONS Punj Lloyd stake NEW DELHI: Punj Lloyd Ltd on Thursday said it has acquired the balance 12 per cent stake in Sembawang Engineers & Constructors through its wholly owned subsidiary, Punj Lloyd Pte Ltd, for about Rs 14 crore. ... More Govt mulls Kanpur mill, NTC merger The Government is seriously considering the merger of the British India Corporation Mill of Kanpur with National Textile Corporation (NTC), according to Union Textile Minister Mr Shankersinh Vaghela. Stating this at a meeting of the ... More NEW PROJECTS Reliance Petro spends Rs 4,054 cr on refinery project Reliance Petroleum Ltd (RPL) has spent Rs 4,054.50 crore on its refinery under construction at Jamnagar as on September 30 against the projected Rs 7,266 crore, the company said on Thursday. In a notice to stock exchanges, the company said the ... More Eaton Corp to set up unit at Ranjangaon Will manufacture gears, shafts and gearboxes More Dalmia Cements to set up greenfield plant in AP Rs 1,450 cr will be invested for a 4 mtpa capacity More

Rs 16,522-cr capex outlay for ONGC Budget estimate for 2007-08 also raised to Rs 18,359 cr More PM lays foundation stone for Hero Honda plant The Prime Minister, Dr Manmohan Singh, on Thursday laid the foundation stone for Hero Honda's new two-wheeler plant at Haridwar, which will see the company invest Rs 1,900 crore by 2010. The plant, expected to be operational by mid-2007, will ... More OVERSEAS INVESTMENTS Rain Commodities arm acquires US firm Rain Commodities Ltd has announced that it has, through its wholly-owned subsidiary Rain Commodities (USA) Inc (RCUSA), acquired 100 per cent membership interests of AIP/GLC Holdings LLC from American Industrial Capital Partners II LP, which in ... More INCOME TAX Assocham seeks more time for filing returns The Associated Chambers of Commerce and Industry of India (Assocham) has urged the Finance Minister to extend the due date for filing of incometax returns till December as against October 31. In a representation to the Finance Minister, Mr P. ... More

MARKETS PRIVATE PLACEMENT Apollo Tyres QIP closes Apollo Tyres closed its Qualified Institutional Placement of equity shares on October 18 at an issue price of Rs 310 per equity share. JM Morgan Stanley Private Ltd acted as sole book runner for the issue. ... More OPEN OFFERS EDS makes open offer to buy 20% more in MphasiS Electronic Data Systems Corporation (EDS) on Thursday made an open offer to shareholders of MphasiS BFL Ltd to acquire 20 per cent more stake in the company at Rs 204.5 a share. The open offer is at a marginal discount to the MphasiS' current ... More NEW FUND OFFER Franklin Templeton launches capital protection fund Comes in two different plans; No entry, exit load More STOCKS Shree Cements: Riding infrastructure boom The Shree Cements stock, which dropped by one per cent on the NSE to close at Rs 1,138.20, is being tracked by analysts in the context of what is

being seen as the company's aggressive expansion plan. The Bangur group outfit, among the larger ... More Lanco Global hikes authorised capital Lanco Global Systems Ltd is set to increase the authorised share capital from Rs 26 crore to Rs 40 crore by the creation of additional equity shares. The company in a statement has informed the BSE that the members at the ... More TECHNICAL ANALYSIS Sideways movement Wednesday's trading activity witnessed sideways movement. The sentiment reading of the tradable counters changed to neutral. Bull move on Thursday is likely to change the sentiment reading to bullish. On the other hand, it is likely to turn ... More COMMENTARY Bears resume dominance; market sentiment weak More IPOS FIEM debuts at 5.84% premium FIEM Industries Ltd, dealing with automotive lighting made its debut on the BSE at Rs 145, a premium of 5.84 per cent to the offer price of Rs 137. The stock reached an intra-day high of Rs 148 and closed at Rs 121.75 below its offer price. The ... More OUTLOOK Stock markets may light up, post-Diwali Traditionally strong third quarter to aid rally More ECONOMIC OFFENCES The mail-trap The ingenuity of fraudsters never ceases to amaze. The latest is e-mails that some scribes covering the financial beat have received. The mail is innocuous in nature and, at first glance, one mistakes it as having landed at a wrong address. ... More INVESTOR PROTECTION Safety net for IPOs: Merchant bankers see no impact on biz Most investment bankers associated with banks see the RBI guidelines on safety net for public issues as not of much consequence to their business. A `safety net' implies a commitment to buy shares from the original investors during a ... More

INFO-TECH OUTSOURCING Sitel set to emerge major BPO player The merger between ClientLogic Corporation and Sitel Corporation - both are American companies - is likely to create a combined BPO (business process outsourcing) entity of around 5,700 professionals in India. Globally, the merged entity ... More Healthcare-related outsourcing to drive IT, BPO growth More high-end work, more revenues, more employment More AWARDS & HONOURS Satyam in Asia's most admired list Satyam Computer Services Ltd has announced that it is among the winners in Asia's most admired knowledge enterprise (MAKE) awards. The MAKE awards are given to leading Asian organisations that leverage enterprise knowledge to ... More TELECOMMUNICATIONS Hutch offers ICC updates Hutch, a global partner for ICC Champions Trophy 2006 and ICC Cricket World Cup 2007, has announced a range of different cricket services for its customers. Hutch customers will now have access to all the cricketing action on their Hutch phones. ... More Tata Tele bumper prize winner Tata Teleservices Ltd Kerala today handed over the bumper prize to the winner of the Onam mega contest for customers of Tata Indicom post-paid products. Mr Dhil Ravindran of Kochi, the winner of the bumper prize drove home a Tata ... More Tata Indicom Motorola handset Tata Indicom has launched the Motorola W150i mobile handset for Rs 1,099 with the Go Active plan. Under this plan, customers will enjoy the benefit of 2,000 minutes of free local outgoing calls from Tata to Tata phones and two ... More INFRASTRUCTURE New team to monitor Chennai IT Corridor work 30-member monitoring team in place to track progress. More SOFTWARE Red Hat developer programme To offer developer-oriented content More

Agilent Tech to expand R&D here Plans Chennai centre to support manufacturing More EDS makes open offer to buy 20% more in MphasiS Electronic Data Systems Corporation (EDS) on Thursday made an open offer to shareholders of MphasiS BFL Ltd to acquire 20 per cent more stake in the company at Rs 204.5 a share. The open offer is at a marginal discount to the MphasiS' current ... More Force10Networks switches Following up on the announcement of the launch of their Chennai R&D centre, Force10Networks, a networking technology company, has announced that it is introducing its S-Series family of access switches into the Indian market. ... More IT TRAINING Toonz Academy classes Toonz Academy, the animation academy of Toonz Animation India at Technopark here, will roll out 2D and 3D animation classes from October 25. Students will get a rare opportunity to be trained under renowned experts at Toonz, a ... More Intel World Ahead Program Under its `World Ahead Program' announced earlier this year, Intel has increased the number of teachers trained under the IntelTeach programme to over 6,00,000, reaching out to over 31,000 schools nationally. Mr Paul Otellini, ... More HUMAN RESOURCES IT crowd has no time for sex In conversation with Dr D. Narayana Reddy, Consultant - Sexual Medicine. More Wipro to focus more on employee training `Over 50 pc of recruits will be fresh graduates' More Virtusa partners U21Global IT solutions provider Virtusa Corporation has signed up with U21Global, an online graduate school, for advanced global business leadership learning to Virtusa employees worldwide. This partnership will enable its managers access top quality ... More MERGERS & ACQUISITIONS WeP plans buys in peripherals space New brand unveiled More

TRADE & LABOUR UNIONS `Unionise call centre employees' Bi-national report highlights disparities More SOCIETY & DEVELOPMENT MS centre's Giving Gala Microsoft India Development Centre (MSIDC) Hyderabad's ongoing annual Microsoft Employee Giving Campaign began from October 3 and ends on October 27. It is dedicated to creating awareness and encouraging contributions from ... More

MARKETING STRATEGY Singapore Airlines unveils latest suite of cabin products Amenities designed by French fashion house Givenchy More LG expands refrigerator range Consumer electronics major LG Electronics India has expanded its refrigerator range, as it anticipates a turnover of Rs 1,400 crore from the category in the current fiscal. This is in line with its plans to touch consolidated ... More Raymond cuts a deal with NIFT To access design inputs and enhance tailoring services More Tata Indicom Motorola handset Tata Indicom has launched the Motorola W150i mobile handset for Rs 1,099 with the Go Active plan. Under this plan, customers will enjoy the benefit of 2,000 minutes of free local outgoing calls from Tata to Tata phones and two ... More VF Arvind plans mass market jeans foray with Rider, Hero To take advantage of modern retail's rapid growth More ADVERTISING Zee Tele CEO to head IAA India chapter Mr Pradeep Guha, Chief Executive Officer, Zee Telefilms, has been elected President of the India Chapter of the International Advertising Association for 2006-07 at its recently concluded Annual General Meeting held in Mumbai. A press release ... More PROMOTIONS & OFFERS Hutch offers ICC updates Hutch, a global partner for ICC Champions Trophy 2006 and ICC Cricket World Cup 2007, has announced a range of different cricket services for its customers. Hutch customers will now have access to all the cricketing action on their Hutch phones. ... More Tata Tele bumper prize winner Tata Teleservices Ltd Kerala today handed over the bumper prize to the winner of the Onam mega contest for customers of Tata Indicom post-paid products. Mr Dhil Ravindran of Kochi, the winner of the bumper prize drove home a Tata ... More Philips Diwali offer Philips Electronics India, a subsidiary of the Netherlands-based Royal Philips Electronics, has announced special offers to its customers marking

the Diwali season. The company offeres to sell the 5.1 channel DVD player at an ... More Wipro Consumer to re-launch Santoor brand Signs up Saif Ali Khan, Madhavan as brand ambassadors More CHANNELS AND FRANCHISES TTK Prestige, HPCL in pact TTK Prestige has struck an alliance with Hindustan Petroleum Corporation Ltd (HPCL) for distribution of Prestige's products through the oil company's LPG outlets in the country. With this association, the entire range of ... More RETAILING Kirtilals opens lounge for premier clients Diamond jeweller Kirtilals has opened an exclusive lounge for premier customers and patrons at its showroom in Bangalore. This lounge will offer a set of 100-odd customers privileges such as personalised attention, service, customisation and ... More VLCC to expand healthcare chain Focussing on tier-II, tier-III cities More MARKETING RESEARCH `Older people surf the longest' Older people are hooked onto the Net, reports a study conducted by the Internet And Mobile Association of India (IAMAI) and research firm IMRB International. According to the I-Cube 2006 report, which covered around 65,000 individuals from ... More Discovery Channel leads the pack Discovery Channel has taken the top slot amongst the international channels broadcast in India as per TAM viewership data for the last 13 weeks. According to a company release, the channel has earned itself 1.5 times higher ... More NEW PRODUCTS & SERVICES New version of Stinger McAfee has released a new version of McAfee Stinger, which targets two Windows-based threats that are still being identified on video iPod and MP3 devices. McAfee Stinger is a free stand alone utility tool that can detect and remove specific ... More Japan CBM Corp unveils Q&Q watches in India Plan to open 50 exclusive stores in 3 years More Force10Networks switches Following up on the announcement of the launch of their Chennai R&D

centre, Force10Networks, a networking technology company, has announced that it is introducing its S-Series family of access switches into the Indian market. ... More

MONEY & BANKING REGIONAL RURAL BANKS A Nobel model that links peace and economics The implication of the Nobel Foundation's selecting Prof Muhammed Yunus for the Peace, and not the Economics Nobel is interesting. The argument is that lifting millions out of poverty will lead to a more peaceful world. And certainly the Grameen Bank network has been an important vehicle of social change. More COURTS/LEGAL ISSUES Centurion, LKB merger challenged A shareholder of Lord Krishna Bank on Wednesday approached the Kerala High Court challenging the decision taken at the AGM of the bank to merge it with Centurion Bank of Punjab. The petition was filed by Mr Umesha Kumar Pai of Ernakulam, who ... More FOREX Rupee gains marginally The rupee gained marginally against a weak dollar on Thursday. Volumes were down ahead of festive season, said dealers. The rupee opened at 45.32/22 and touched a low of 45.36/37 before ending at the opening level. On Wednesday, ... More FINANCIAL PERFORMANCE Canara Bank net rises; core banking is driver To finalise insurance partner by Q3 More Dewan Housing net rises 23 pc Dewan Housing Finance Ltd (DHFL) has reported a 23.43 per cent increase in net profit at Rs 11.43 crore (Rs 9.26 crore) for the quarter ended September 30, 2006. Total income rose 40.9 per cent to Rs 76 crore (Rs 53.93 crore) while total ... More IDBI net 6 pc higher in Q2 Other income falls to Rs 192.61 cr; treasury income rises to Rs 650.6 cr More HDFC net up 23% in Q2 Middle income segment driving home loans growth More Interest income lifts Kotak Bank net Robust growth in net interest income has helped Kotak Mahindra Bank Ltd post a net profit of around 12 per cent at Rs 34.8 crore (Rs 31.18 crore) in the second quarter ended September 30, on a standalone basis. Total income has also grown to ... More

NBFCS AIG Capital gets NBFC licence AIG Capital India Ltd has received regulatory approval from the Reserve Bank of India to operate as a wholly owned non-banking finance company (NBFC) of American International Group, Inc. This will allow AIG Capital India to ... More LIFE INSURANCE Bancassurance pact renewed Syndicate Bank renewed its bancassurance arrangement with Bajaj Allianz Life Insurance Co Ltd on Thursday for a further period of three years. A Syndicate Bank release said that the MoU renewing the corporate agency ... More PUBLIC SECTOR BANKS Indian Bank to sell gold coins Indian Bank will sell gold coins with Goddess Lakshmi image of 5 gm and 10 gm on the occasion of Diwali. According to a bank press release, other coins of weight 4, 8, 20 and 50 gm would also be sold at their branches in the ... More Canara sees good pricing for issue The exercise for placement of the $300 million medium-term note issue of Canara Bank has begun and pricing is expected to be even finer than anticipated. Banking sources said that rating of the issues had begun. Indications were that the ... More GOVT BONDS Bond prices flat The bond market was almost flat. "Market participation was also minimal as traders awaited the Credit Policy," said a dealer at a private bank. Total traded volume on the order matching system was Rs 2,010 crore (Rs 1,595 crore). ... More SHORT TERM INSTRUMENTS Call rates up on tight liquidity Call rates ruled at 6.85-6.95 per cent against 6.75-6.85 per cent on tight liquidity. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted three bids amounting to Rs 360 crore and ... More CO-OPERATIVES RBI cancels urban co-op bank licence The Reserve Bank of India cancelled the licence of The Bharat Mercantile Co-operative Urban Bank, Hyderabad, on October 17, as all efforts to revive the bank had failed. The RBI also requested the Registrar of Cooperatives Societies (RCS), ... More

AGRI-BIZ & COMMODITIES CULTIVATION IKF Tech plans to grow jatropha in Africa Approaches Swaziland, S. Africa, Mozambique for permission More AQUACULTURE Centre for sustainable aquaculture to be set up To be launched in Nov last week More RUBBER Sheet rubber improves Physical rubber prices were in a mixed trend on Thursday. The market remained in a buyers mode as reports from the global commodity exchanges were comparatively encouraging. Sheet rubber improved to Rs 89.50 a kg from Rs 89 a kg both at ... More SUGAR UP mills to be served notice for excess sugar sale Mills cannot dispose of or even remove sugar from their bonded godowns without an FSQ release order from the Directorate. More ISMA offers sugar at Rs 20/kg The Indian Sugar Mills Association (ISMA) has tied up with member factories to ensure availability of sugar in the National Capital at a retail price not exceeding Rs 20 per kg. In a statement issued here on Thursday, ISMA ... More TEA Coonoor tea sale takes Diwali break This week's auction of the Coonoor Tea Trade Association (CTTA) has been cancelled as Diwali festive mood catches up with the players. CTTA has announced that the next sale would take place on October 26 after Diwali and Ramzan. That has been ... More FINANCIAL PERFORMANCE E.I.D. Parry Q2 net at Rs 26 cr E.I.D. Parry (India) Ltd has reported a net profit of Rs 26.31 crore (Rs 27.99 crore) on net sales of Rs 159.1 crore (Rs 209.02 crore) for the second quarter ended September 30, 2006. According to a company release, the board has approved a ... More GOLD & SILVER Indian Bank to sell gold coins Indian Bank will sell gold coins with Goddess Lakshmi image of 5 gm and 10 gm on the occasion of Diwali. According to a bank press release, other

coins of weight 4, 8, 20 and 50 gm would also be sold at their branches in the ... More COIR Coir Board seeks boat jetty in Alappuzha Submits proposal for setting up inland container depot More SPICES & CONDIMENTS Pepper futures decline Pepper futures witnessed a sharp fall on Thursday on speculative selling despite prices in Brazil moving up. Market observers alleged that some exporters who had committed at discounted levels were pushing down the prices in order to cover. ... More EXPORTS & IMPORTS Farm product exports will empower farmers: Kamal Nath Farm exports up 12 pc More

INDUSTRY & ECONOMY CLIMATE & WEATHER IMD declares onset of N-E monsoon But no sign of `low'/depression materialising over the Bay More NON-CONVENTIONAL ENERGY IKF Tech plans to grow jatropha in Africa Approaches Swaziland, S. Africa, Mozambique for permission More COURTS/LEGAL ISSUES Law firms' plea for space The Society of Indian Law Firms (SILF) has called upon the Government to create alternative commercial space for law firms before sealing their current offices in the Capital. The SILF has also drawn the Government's attention ... More ECONOMY Perceptions in deficit? Media watchers in the capital are veering round to the view that there is a tendency among some sections of the press to hype up so-called differences between various wings of the government. In recent weeks, there have been reports about the ... More ENVIRONMENT Greed leads to global ruin Market economists, as neo-colonisers, compel developing nations to risk their ecosystems for a bigger share of the market. More FOREIGN TRADE Canada varsity team on visit A five-member team from Canada's York University is on a two-week visit to India for forging relationships for joint research and reciprocal exchange of student and faculty members. On Wednesday, the delegation signed a MoU ... More HEALTH IT crowd has no time for sex In conversation with Dr D. Narayana Reddy, Consultant - Sexual Medicine. More Honour for transplant surgeon Dr S. Sahariah has been elected National President of the Indian Society of Organ Transplantation (ISOT) for the next two years. With more than 3,000 renal transplant, he is among the top kidney transplant surgeons in the ... More

PETROLEUM Rs 16,522-cr capex outlay for ONGC Budget estimate for 2007-08 also raised to Rs 18,359 cr More TAXATION AP I-T collection target raised by 27 pc Having emerged as the only State in the country to have exceeded the targeted tax collections during the last fiscal, the Income Tax Department here has set a higher budget target of Rs 8,479 crore for the current fiscal, which is 27.12 per cent ... More TERRORISM Will the nightmare ever end? The occupation of Iraq has cost the US nearly $300 billion, and, since there is no knowing when it will be able to pull out of the quagmire, the drain on its coffers might swell to astronomical proportions. More ... More RADIO/TV Discovery Channel leads the pack Discovery Channel has taken the top slot amongst the international channels broadcast in India as per TAM viewership data for the last 13 weeks. According to a company release, the channel has earned itself 1.5 times higher ... More INDUSTRY ASSOCIATIONS Assocham seeks more time for filing returns The Associated Chambers of Commerce and Industry of India (Assocham) has urged the Finance Minister to extend the due date for filing of incometax returns till December as against October 31. In a representation to the Finance Minister, Mr P. ... More REGULATORY BODIES & RULINGS `Audit should be enabler, not fault-finder' President lays foundation stone for new CAG building More EVENTS Farm product exports will empower farmers: Kamal Nath Farm exports up 12 pc More ECONOMIC OFFENCES Rs 2.8 crore seized from Delhi hoteliers The Air Intelligence Unit of the Income-Tax Department here seized Rs 2.8 crore in cash from a father-son duo belonging to the hotel industry after they disembarked at the Begumpet airport here on Thursday morning. Addressing newspersons, the ... More

LOGISTICS AIRLINES Singapore Airlines unveils latest suite of cabin products Amenities designed by French fashion house Givenchy More Indian's Airbus A-319 aircraft arrives First induction after 12 years More INSIGHT A cartel in the air? As the sky above India gets crowded, and air fares nose-dive, worried airlines are forming a federation. Ostensibly meant to function like any other industry body and represent to the government its common problems, the federation may end up covertly setting a floor among member-airline fares. Its primary, if not sole, concern may be to reduce, if not end, all competition among its members, says ASHOAK UPADHYAY. More SHIPPING Haldia dock seeks clearance to buy dredger Haldia dock authorities have urged the Shipping Ministry to allow them to acquire, either on lease or through outright purchase, a dredger, preferably cutter suction type, to clear the Hooghly river near the dock's oil jetties, particularly ... More MERGERS & ACQUISITIONS Group of Ministers set up for AI merger Patel allays fear about any job loss or retrenchment More

GOVERNMENT POLICY Group of Ministers set up for AI merger Patel allays fear about any job loss or retrenchment More POLITICS Not a pretty picture The Prime Minister's penchant for holding important meetings at `Panchavati' within his residential complex irks photojournalists no end. Constructed during the Vajpayee era, this huge hall is now used for LeftUPA coordination committee ... More

OPINION EDITORIAL Railways on a roll The Railways is looking to the world for rail transport system technology that has grown by leaps and bounds. More AIRLINES A cartel in the air? As the sky above India gets crowded, and air fares nose-dive, worried airlines are forming a federation. Ostensibly meant to function like any other industry body and represent to the government its common problems, the federation may end up covertly setting a floor among member-airline fares. Its primary, if not sole, concern may be to reduce, if not end, all competition among its members, says ASHOAK UPADHYAY. More ECONOMY Greed leads to global ruin Market economists, as neo-colonisers, compel developing nations to risk their ecosystems for a bigger share of the market. More POLITICS Will the nightmare ever end? The occupation of Iraq has cost the US nearly $300 billion, and, since there is no knowing when it will be able to pull out of the quagmire, the drain on its coffers might swell to astronomical proportions. More ... More EDUCATION Creating the knowledge creators of tomorrow The real challenge that India faces is creating a corps of talented and dedicated teachers if future generations are to be better educated and, more importantly, in the context of the move to raise student intake to meet the quota goals. More MINERALS Mining policy: Iron out the leasing issues Iron ore mining has become a contentious issue. The cost of producing a tonne of iron ore in India is around Rs 300, while its price in the international market is around Rs 1,800. In the last 30 years, the labyrinthine policy ensured that no one ... More RURAL DEVELOPMENT A Nobel model that links peace and economics The implication of the Nobel Foundation's selecting Prof Muhammed Yunus for the Peace, and not the Economics Nobel is interesting. The argument is that lifting millions out of poverty will lead to a more peaceful world. And

certainly the Grameen Bank network has been an important vehicle of social change. More LETTERS Poverty and child labour Budget 2007

VARIETY LIFESTYLE VLCC to expand healthcare chain Focussing on tier-II, tier-III cities More EVENTS Footloose in Frankfurt The world's largest book fair is more than an event — it is a way of life. More Designer Diwali Diwali arrives wrapped in the latest styles... More WORK LIFE Across the desk Everybody enjoys the constitutional right to slam a deskman or woman. More

CORPORATE RESULTS FINANCIAL SERVICES Emkay Share PAT at Rs 2.29 cr Emkay Share and Stock Brokers Ltd has recorded a total income of Rs 11.87 crore in the second quarter ended September 30 while the net profit after tax was Rs 2.29 crore. The company was not listed last year. For the six month ... More OUTSOURCING Allsec's net up Allsec Technologies Ltd, a Chennai-based company, has reported increased net profit of Rs 7.40 crore for the quarter ended on September 30 compared with a net profit of Rs 5.82 crore for corresponding quarter last year, a 27 per ... More CEMENT ACC Q3 net marginally down ACC Ltd has reported a net profit of Rs 225 crore for the third quarter of the current fiscal ended September 30, 2006, marginally lower than Rs 228 crore posted during the corresponding quarter of the previous year. Its last year net was boosted ... More ENGINEERING L&T Q2 net up 41 pc Engg and construction sees 9 pc rise in revenues More Ingersoll Rand to pay interim Ingersoll Rand India Ltd has declared an interim dividend of Rs 3 per share (30 per cent) for fiscal 2006-07 on the back of surging profits during the quarter ended September 30. The company reported a net profit of Rs 14.7 crore ... More PETROLEUM Reliance net rises 9 pc to Rs 2,709 cr Higher raw material costs impact refining margins More Petrochem comes to Reliance rescue Reliance Industries' refining business, as anticipated, was an underperformer during the second quarter. The growth momentum was provided by the petrochemicals business, which had its fair share of challenges during the quarter in terms of a ... More ONGC sees marginal rise in Q2 net Hazira shutdown, higher operational staff cost seen as reasons More

PHARMACEUTICALS Ranbaxy net rises seven-fold Driven by growth in key geographies; to pay 50 pc interim More Lupin Q2 net rises 29 pc on sale of finished medicines Despite its bulk-drugs business being virtually flat, Lupin Ltd has clocked a 29 per cent growth in net profit for the second quarter ended September 30, 2006. The company has posted a net profit of Rs 58.30 crore for the quarter ended September ... More Orchid Chemicals net rises to Rs 29 cr Orchid Chemicals & Pharmaceuticals has reported a net profit of Rs 29.45 crore for the second quarter of the current year against Rs 27.22 crore in the corresponding quarter of last year. Turnover for the quarter increased to Rs 245.73 crore ... More Panacea Biotec net doubles NEW DELHI: Panacea Biotec Ltd has reported a 104 per cent jump in net profit at Rs 46.5 crore for the quarter ended September 30, from Rs 22.8 crore during the same period last fiscal. The company's net sales were up at Rs 174.2 crore, from Rs ... More PLASTICS Finolex net zooms on higher sales Finolex Cables Ltd has recorded net sales of Rs 276.10 crore for the second quarter of the current fiscal against Rs 168.12 crore for the corresponding period last year, a growth of 64 per cent. Sales for the first half of the current fiscal ... More POWER Reliance Energy net up 17 pc Reliance Energy Ltd (REL) has reported 16.8 per cent increase in net profit for the second quarter ended September 2006. The company's net profit amounted to Rs 186.39 crore against Rs 159.57 crore in the corresponding previous period. Total ... More STEEL Ispat Ind Q2 net at Rs 2.32 cr Ispat Industries Ltd (IIL) has reported a net profit of Rs 2.32 crore for the second quarter ended September 30, 2006, as against a net loss of Rs 363.01 crore in the same quarter last fiscal, according to a company release. The company's ... More SUGAR E.I.D. Parry Q2 net at Rs 26 cr E.I.D. Parry (India) Ltd has reported a net profit of Rs 26.31 crore (Rs 27.99 crore) on net sales of Rs 159.1 crore (Rs 209.02 crore) for the second

quarter ended September 30, 2006. According to a company release, the board has approved a ... More HOUSING FINANCE Dewan Housing net rises 23 pc Dewan Housing Finance Ltd (DHFL) has reported a 23.43 per cent increase in net profit at Rs 11.43 crore (Rs 9.26 crore) for the quarter ended September 30, 2006. Total income rose 40.9 per cent to Rs 76 crore (Rs 53.93 crore) while total ... More HDFC net up 23% in Q2 Middle income segment driving home loans growth More PRIVATE BANKS IDBI net 6 pc higher in Q2 Other income falls to Rs 192.61 cr; treasury income rises to Rs 650.6 cr More Interest income lifts Kotak Bank net Robust growth in net interest income has helped Kotak Mahindra Bank Ltd post a net profit of around 12 per cent at Rs 34.8 crore (Rs 31.18 crore) in the second quarter ended September 30, on a standalone basis. Total income has also grown to ... More PUBLIC SECTOR BANKS Canara Bank net rises; core banking is driver To finalise insurance partner by Q3 More

COLUMNS OFFHAND Will the nightmare ever end? The occupation of Iraq has cost the US nearly $300 billion, and, since there is no knowing when it will be able to pull out of the quagmire, the drain on its coffers might swell to astronomical proportions. More ... More REFLECTIONS Across the desk Everybody enjoys the constitutional right to slam a deskman or woman. More MICROSCOPE Petrochem comes to Reliance rescue Reliance Industries' refining business, as anticipated, was an underperformer during the second quarter. The growth momentum was provided by the petrochemicals business, which had its fair share of challenges during the quarter in terms of a ... More EAR TO THE GROUND Shree Cements: Riding infrastructure boom The Shree Cements stock, which dropped by one per cent on the NSE to close at Rs 1,138.20, is being tracked by analysts in the context of what is being seen as the company's aggressive expansion plan. The Bangur group outfit, among the larger ... More SENSOR Bears resume dominance; market sentiment weak More

STATES TAMIL NADU New team to monitor Chennai IT Corridor work 30-member monitoring team in place to track progress. More ANDHRA PRADESH Indian Bank to sell gold coins Indian Bank will sell gold coins with Goddess Lakshmi image of 5 gm and 10 gm on the occasion of Diwali. According to a bank press release, other coins of weight 4, 8, 20 and 50 gm would also be sold at their branches in the ... More Honour for transplant surgeon Dr S. Sahariah has been elected National President of the Indian Society of Organ Transplantation (ISOT) for the next two years. With more than 3,000 renal transplant, he is among the top kidney transplant surgeons in the ... More Rs 2.8 crore seized from Delhi hoteliers The Air Intelligence Unit of the Income-Tax Department here seized Rs 2.8 crore in cash from a father-son duo belonging to the hotel industry after they disembarked at the Begumpet airport here on Thursday morning. Addressing newspersons, the ... More KERALA Toonz Academy classes Toonz Academy, the animation academy of Toonz Animation India at Technopark here, will roll out 2D and 3D animation classes from October 25. Students will get a rare opportunity to be trained under renowned experts at Toonz, a ... More Coir Board seeks boat jetty in Alappuzha Submits proposal for setting up inland container depot More Tata Tele bumper prize winner Tata Teleservices Ltd Kerala today handed over the bumper prize to the winner of the Onam mega contest for customers of Tata Indicom post-paid products. Mr Dhil Ravindran of Kochi, the winner of the bumper prize drove home a Tata ... More KARNATAKA Hutch offers ICC updates Hutch, a global partner for ICC Champions Trophy 2006 and ICC Cricket World Cup 2007, has announced a range of different cricket services for its customers. Hutch customers will now have access to all the cricketing action on their Hutch phones. ... More

Kirtilals opens lounge for premier clients Diamond jeweller Kirtilals has opened an exclusive lounge for premier customers and patrons at its showroom in Bangalore. This lounge will offer a set of 100-odd customers privileges such as personalised attention, service, customisation and ... More OTHER STATES PM lays foundation stone for Hero Honda plant The Prime Minister, Dr Manmohan Singh, on Thursday laid the foundation stone for Hero Honda's new two-wheeler plant at Haridwar, which will see the company invest Rs 1,900 crore by 2010. The plant, expected to be operational by mid-2007, will ... More MAHARASHTRA Eaton Corp to set up unit at Ranjangaon Will manufacture gears, shafts and gearboxes More

WEB EXTRAS COMMODITY EXCHANGES Pepper futures decline Pepper futures witnessed a sharp fall on Thursday on speculative selling despite prices in Brazil moving up. Market observers alleged that some exporters who had committed at discounted levels were pushing down the prices in order to cover. ... More OVERSEAS BORROWINGS Canara sees good pricing for issue The exercise for placement of the $300 million medium-term note issue of Canara Bank has begun and pricing is expected to be even finer than anticipated. Banking sources said that rating of the issues had begun. Indications were that the ... More MUTUAL FUNDS Franklin Templeton launches capital protection fund Comes in two different plans; No entry, exit load More PETROCHEMICALS Rs 16,522-cr capex outlay for ONGC Budget estimate for 2007-08 also raised to Rs 18,359 cr More TEXTILES Raymond cuts a deal with NIFT To access design inputs and enhance tailoring services More Govt mulls Kanpur mill, NTC merger The Government is seriously considering the merger of the British India Corporation Mill of Kanpur with National Textile Corporation (NTC), according to Union Textile Minister Mr Shankersinh Vaghela. Stating this at a meeting of the ... More LIFE INSURANCE IDBI net 6 pc higher in Q2 Other income falls to Rs 192.61 cr; treasury income rises to Rs 650.6 cr More AGRICULTURAL POLICY UP mills to be served notice for excess sugar sale Mills cannot dispose of or even remove sugar from their bonded godowns without an FSQ release order from the Directorate. More RBI & OTHER CENTRAL BANKS RBI cancels urban co-op bank licence The Reserve Bank of India cancelled the licence of The Bharat Mercantile

Co-operative Urban Bank, Hyderabad, on October 17, as all efforts to revive the bank had failed. The RBI also requested the Registrar of Cooperatives Societies (RCS), ... More PRIVATE BANKS Centurion, LKB merger challenged A shareholder of Lord Krishna Bank on Wednesday approached the Kerala High Court challenging the decision taken at the AGM of the bank to merge it with Centurion Bank of Punjab. The petition was filed by Mr Umesha Kumar Pai of Ernakulam, who ... More INCOME TAX Rs 2.8 crore seized from Delhi hoteliers The Air Intelligence Unit of the Income-Tax Department here seized Rs 2.8 crore in cash from a father-son duo belonging to the hotel industry after they disembarked at the Begumpet airport here on Thursday morning. Addressing newspersons, the ... More OUTLOOK AP I-T collection target raised by 27 pc Having emerged as the only State in the country to have exceeded the targeted tax collections during the last fiscal, the Income Tax Department here has set a higher budget target of Rs 8,479 crore for the current fiscal, which is 27.12 per cent ... More Centre for sustainable aquaculture to be set up To be launched in Nov last week More IMD declares onset of N-E monsoon But no sign of `low'/depression materialising over the Bay More

INDEX Advertising Zee Tele CEO to head IAA India chapter Agricultural Policy UP mills to be served notice for excess sugar sale Air-conditioners & Refrigerators LG expands refrigerator range Airlines A cartel in the air? Indian's Airbus A-319 aircraft arrives Singapore Airlines unveils latest suite of cabin products Group of Ministers set up for AI merger Alliances & Joint Ventures Virtusa partners U21Global Andhra Pradesh Indian Bank to sell gold coins AP I-T collection target raised by 27 pc Rs 2.8 crore seized from Delhi hoteliers Honour for transplant surgeon Aquaculture Centre for sustainable aquaculture to be set up Associated Cement Companies Ltd ACC Q3 net marginally down Auditing `Audit should be enabler, not fault-finder' Awards & Honours A Nobel model that links peace and economics

Honour for transplant surgeon Satyam in Asia's most admired list 23 Indian cos in Forbes Asia list of `best under a billion' Brands Wipro Consumer to re-launch Santoor brand Japan CBM Corp unveils Q&Q watches in India VF Arvind plans mass market jeans foray with Rider, Hero Budget Budget 2007 Cement Dalmia Cements to set up greenfield plant in AP ACC Q3 net marginally down Shree Cements: Riding infrastructure boom Channels and Franchises TTK Prestige, HPCL in pact Children & Parenting Poverty and child labour Climate & Weather IMD declares onset of N-E monsoon Co-operatives RBI cancels urban co-op bank licence Coir Coir Board seeks boat jetty in Alappuzha Coke & Metalurgical Coke Rain Commodities arm acquires US firm Commentary Bears resume dominance; market sentiment weak

Commodity Exchanges Pepper futures decline Consumer Electronics Philips Diwali offer Contract Farming IKF Tech plans to grow jatropha in Africa Corporate 23 Indian cos in Forbes Asia list of `best under a billion' Courts/Legal Issues Centurion, LKB merger challenged Law firms' plea for space Cultivation IKF Tech plans to grow jatropha in Africa Customer Relationship Management Raymond cuts a deal with NIFT Dividend Announcement Ingersoll Rand to pay interim Satluj Jal pays dividend Ear to the ground Shree Cements: Riding infrastructure boom Economic Offences The mail-trap Rs 2.8 crore seized from Delhi hoteliers Economy Greed leads to global ruin Perceptions in deficit?

Editorial Railways on a roll Education Creating the knowledge creators of tomorrow Canada varsity team on visit Electrical Goods Eaton Corp to set up unit at Ranjangaon Engineering Ingersoll Rand to pay interim L&T Q2 net up 41 pc Entertainment & Leisure Sudoku Toonz Academy classes Environment Greed leads to global ruin Events Farm product exports will empower farmers: Kamal Nath Exports & Imports Farm product exports will empower farmers: Kamal Nath Fashion Raymond cuts a deal with NIFT Financial Performance Ranbaxy net rises seven-fold E.I.D. Parry Q2 net at Rs 26 cr Dewan Housing net rises 23 pc Interest income lifts Kotak Bank net IDBI net 6 pc higher in Q2 HDFC net up 23% in Q2 Canara Bank net rises; core banking is driver

Petrochem comes to Reliance rescue Reliance net rises 9 pc to Rs 2,709 cr Financial Services AIG Capital gets NBFC licence Emkay Share PAT at Rs 2.29 cr Foreign Trade Canada varsity team on visit Forex Rupee gains marginally Gems & Jewellery Kirtilals opens lounge for premier clients Gold & Silver Indian Bank to sell gold coins Govt Bonds Bond prices flat Haldia Haldia dock seeks clearance to buy dredger Hardware WeP plans buys in peripherals space Health Honour for transplant surgeon VLCC to expand healthcare chain Hero Honda Motors Ltd PM lays foundation stone for Hero Honda plant Hindustan Petroleum Corporation Ltd TTK Prestige, HPCL in pact

Home Appliances TTK Prestige, HPCL in pact Housing Development Finance Corporation Ltd HDFC net up 23% in Q2 Housing Finance Dewan Housing net rises 23 pc HDFC net up 23% in Q2 Human Resources MS centre's Giving Gala Virtusa partners U21Global Wipro to focus more on employee training IPOs FIEM debuts at 5.84% premium Safety net for IPOs: Merchant bankers see no impact on biz IT Training Toonz Academy classes Intel World Ahead Program Income Tax Rs 2.8 crore seized from Delhi hoteliers Assocham seeks more time for filing returns Industry Associations ISMA offers sugar at Rs 20/kg Assocham seeks more time for filing returns Infrastructure New team to monitor Chennai IT Corridor work Punj Lloyd stake Insight A cartel in the air?

Internet The mail-trap `Older people surf the longest' Investor Protection Safety net for IPOs: Merchant bankers see no impact on biz Karnataka Hutch offers ICC updates Kirtilals opens lounge for premier clients Kerala Toonz Academy classes Coir Board seeks boat jetty in Alappuzha Tata Tele bumper prize winner Larsen & Toubro Ltd L&T Q2 net up 41 pc Letters Poverty and child labour Budget 2007 Life Insurance IDBI net 6 pc higher in Q2 Bancassurance pact renewed Lifestyle VLCC to expand healthcare chain Maharashtra Eaton Corp to set up unit at Ranjangaon Market Shares LG expands refrigerator range Marketing Research

Discovery Channel leads the pack `Older people surf the longest' Mergers & Acquisitions Centurion, LKB merger challenged WeP plans buys in peripherals space Group of Ministers set up for AI merger Govt mulls Kanpur mill, NTC merger Punj Lloyd stake Microscope Petrochem comes to Reliance rescue Minerals Mining policy: Iron out the leasing issues Mutual Funds Franklin Templeton launches capital protection fund NBFCs AIG Capital gets NBFC licence New Fund Offer Franklin Templeton launches capital protection fund New Products & Services Japan CBM Corp unveils Q&Q watches in India Force10Networks switches New version of Stinger New Projects Eaton Corp to set up unit at Ranjangaon PM lays foundation stone for Hero Honda plant Dalmia Cements to set up greenfield plant in AP Rs 16,522-cr capex outlay for ONGC Reliance Petro spends Rs 4,054 cr on refinery project Newspapers & Publishing Across the desk

Non-conventional Energy IKF Tech plans to grow jatropha in Africa Offhand Will the nightmare ever end? Oil & Natural Gas Corporation Ltd Rs 16,522-cr capex outlay for ONGC ONGC sees marginal rise in Q2 net Open Offers EDS makes open offer to buy 20% more in MphasiS Other States PM lays foundation stone for Hero Honda plant Outlook AP I-T collection target raised by 27 pc Stock markets may light up, post-Diwali Centre for sustainable aquaculture to be set up IMD declares onset of N-E monsoon Outsourcing Allsec's net up Sitel set to emerge major BPO player Healthcare-related outsourcing to drive IT, BPO growth `Unionise call centre employees' Overseas Borrowings Canara sees good pricing for issue Overseas Investments Rain Commodities arm acquires US firm PSU Govt mulls Kanpur mill, NTC merger People

A Nobel model that links peace and economics Honour for transplant surgeon Zee Tele CEO to head IAA India chapter Petrochemicals Rs 16,522-cr capex outlay for ONGC Petroleum TTK Prestige, HPCL in pact Rs 16,522-cr capex outlay for ONGC Petrochem comes to Reliance rescue ONGC sees marginal rise in Q2 net Reliance Petro spends Rs 4,054 cr on refinery project Reliance net rises 9 pc to Rs 2,709 cr Pharmaceuticals Panacea Biotec net doubles Ranbaxy net rises seven-fold Lupin Q2 net rises 29 pc on sale of finished medicines Orchid Chemicals net rises to Rs 29 cr Plastics Finolex net zooms on higher sales Policy Mining policy: Iron out the leasing issues Group of Ministers set up for AI merger Politics Will the nightmare ever end? Not a pretty picture Power Reliance Energy net up 17 pc Satluj Jal pays dividend Private Banks Centurion, LKB merger challenged Interest income lifts Kotak Bank net IDBI net 6 pc higher in Q2

Private Placement Apollo Tyres QIP closes Promotions & Offers Hutch offers ICC updates Tata Tele bumper prize winner Philips Diwali offer Wipro Consumer to re-launch Santoor brand Public Sector Banks Indian Bank to sell gold coins Canara sees good pricing for issue Canara Bank net rises; core banking is driver Bancassurance pact renewed RBI & Other Central Banks RBI cancels urban co-op bank licence Radio/TV Discovery Channel leads the pack Railways Railways on a roll Ranbaxy Laboratories Ltd Ranbaxy net rises seven-fold Readymade Garments VF Arvind plans mass market jeans foray with Rider, Hero Reflections Across the desk Regional Rural Banks A Nobel model that links peace and economics Regulatory Bodies & Rulings

`Audit should be enabler, not fault-finder' UP mills to be served notice for excess sugar sale Reliance Energy Ltd Reliance Energy net up 17 pc Reliance Industries Ltd Petrochem comes to Reliance rescue Reliance net rises 9 pc to Rs 2,709 cr Research & Development Agilent Tech to expand R&D here Retailing Kirtilals opens lounge for premier clients VLCC to expand healthcare chain Rubber Sheet rubber improves Rural Development A Nobel model that links peace and economics Satyam Computer Services Ltd Satyam in Asia's most admired list Security New version of Stinger Sensor Bears resume dominance; market sentiment weak Shipping Haldia dock seeks clearance to buy dredger Short Term Instruments Call rates up on tight liquidity

Soaps & Detergents Wipro Consumer to re-launch Santoor brand Society & Development MS centre's Giving Gala Software Force10Networks switches MS centre's Giving Gala Virtusa partners U21Global Wipro to focus more on employee training Red Hat developer programme Agilent Tech to expand R&D here EDS makes open offer to buy 20% more in MphasiS Satyam in Asia's most admired list Lanco Global hikes authorised capital Spices & Condiments Pepper futures decline Sports Hutch offers ICC updates Steel Ispat Ind Q2 net at Rs 2.32 cr Stock Markets Shree Cements: Riding infrastructure boom Stock markets may light up, post-Diwali Stocks Shree Cements: Riding infrastructure boom Lanco Global hikes authorised capital Strategy LG expands refrigerator range Raymond cuts a deal with NIFT VF Arvind plans mass market jeans foray with Rider, Hero Tata Indicom Motorola handset

Singapore Airlines unveils latest suite of cabin products Sugar E.I.D. Parry Q2 net at Rs 26 cr ISMA offers sugar at Rs 20/kg UP mills to be served notice for excess sugar sale Tamil Nadu New team to monitor Chennai IT Corridor work Taxation AP I-T collection target raised by 27 pc Tea Coonoor tea sale takes Diwali break Technical Analysis Sideways movement Telecommunications Hutch offers ICC updates Tata Tele bumper prize winner Tata Indicom Motorola handset Terrorism Will the nightmare ever end? Textiles Raymond cuts a deal with NIFT Govt mulls Kanpur mill, NTC merger Trade & Labour Unions `Unionise call centre employees' Two/Three Wheelers PM lays foundation stone for Hero Honda plant Tyres

Apollo Tyres QIP closes Watches & Accessories Japan CBM Corp unveils Q&Q watches in India Wipro Ltd Wipro to focus more on employee training Work Life Across the desk Zee Telefilms Ltd Zee Tele CEO to head IAA India chapter