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Mandatory open offer for 100% stake in the works
Corporate acquisitions in India could become costlier, with market regulator Securities and Exchange Board of India (Sebi) mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company.

Wockhardt divests animal health division
Pharma major Wockhardt today said it has completed the sell-off process of its animal health division to France-based Vetoquinol SA.

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ONGC Q1 net dips 27% at Rs 4,848 cr
Oil & Natural Gas Corporation (ONGc), the country"s largest public sector undertaking, has posted a decline of 26.95 per cent in its net profit for the quarter ended 30 June, 2009 at Rs 4,847.92 crore as compared to Rs 6,636.33 crore in the corresponding quarter last year. The company"s net sales from operations during the quarter, too, dipped to Rs 14,879.27 crore from Rs 20,052 crore, down 25.8 per cent.
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Nalco announces cash incentive for fly ash disposal

Navratna aluminium giant National Aluminium Company (Nalco) has decided to give cash incentive for disposal of fly ash, about 7,000 million tonnes (MT) of which is generated at its 1,200 Mw thermal captive power plant here everyday. - Nalco SAPs at Damanjodi demand R & R benefits - Nalco eyes mineral properties in Namibia - Nalco shelves South Africa project; puts Iran project on hold - Governor orders pollution test of Nalco ash pond water - Drivers" strike hits coal supply - MTNL, Tata Tele, Nalco & Ashok Leyland Q2 result Besides providing the pond ash free of cost to the end-users, Nalco would give cash incentive of Rs 100 per cubic metre subject to a minimum lifting of 4,000 cubic metres in a calendar month, company sources said today. The cost of loading and transportation shall have to be borne by the party. Fly ash is mixed with water and disposed of in slurry form, through pipelines, to the company"s ash ponds, spread over 600 acres, the sources said today. These ponds are located 5 kms away from National Highway-42 and is well connected with road. Pond ash is good for land filling and road construction works. Use of pond ash in road construction helps in conserving precious soil and sand, the sources said adding it can also reduce quantity of cement used in concrete roads.


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