DLF a big draw

Mumbai, June 12: Realty firm DLF’s initial public offering, through which the developer expects to garner Rs 9,625 crore, got fully subscribed on its second day today. The IPO was subscribed 1.28 times at the end of today’s bidding, receiving 22.31 crore bids for 17.5 crore equity shares on offer, according to data available on the stock exchanges.

Anti-dumping

New Delhi, June 12: The European Union has become the most restrictive bloc in allowing imports, while India, China and Argentina were less harsh in initiating anti-dumping probes against trade inflows in the second half of 2006, a report by the WTO said.

Rupee up

Mumbai, June 12: The rupee surged further in limited activity and ended moderately higher at 40.75 against the US currency today, buoyed by fresh FII inflows into the equity market amid dollar buying by banks.

Company law

New Delhi, June 12: A company law to keep the government from interfering in the daily affair of companies will take another year to be introduced. It is is going through inter-ministerial discussions before it is placed in Parliament.

Petronet

New Delhi, June 12: Petronet LNG’s $550-million Kochi terminal is expected to be delayed by at least a year as a concession agreement with the Kochi Port Trust has not been finalised yet.

Cadila plan

Mumbai, June 12: Cadila Healthcare has received the US Food and Drug Administration (USFDA) approval for marketing its three products in the US. The group will market all three drugs through its US subsidiary Zydus Pharmaceuticals.

Oil demand

Paris, June 12: Global oil demand will increase by 2 per cent this year, the International Energy Agency said today, revising upwards an earlier estimate by about 400,000 barrels per day and warning the market will be tight. “Global oil product demand is revised up to 86.1 million barrels per day for 2007,” it said.