CORPORATE
ANNOUNCEMENTS
Uncertainty over Indal unit continues
STALEMATE in reaching an agreement on the power tariff with the Power Trading Corporation (PTC) by the Aditya Birla Group's Indian Aluminium Company (Indal) at nearby Eloor is likely to delay indefinitely the re-opening of the unit. Now the PTC ...
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BHEL bags IOC orders
HYDERABAD: With Indian Oil Corporation (IOC) opting to source equipment from Bharat Heavy Electricals Ltd (BHEL), the power utility on Friday delivered two sets of gas turbines and generators out of the Rs 475-crore order, under which it ...
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CORPORATE DISPUTES
BSES told to stop offering rebates
THE Maharashtra Electricity Regulatory Commission (MERC) on Friday asked BSES Ltd (now Reliance Energy) to stop giving rebates to customers and recover the discounts it may have already given. The regulator gave the order after rival Tata ...
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OVERSEAS BORROWINGS
GAIL to raise $100 million through ECBs by June
GAIL (India) plans to raise $100 million (around Rs 450 crore) by June through external commercial borrowings to meet its capital expenditure needs, a senior official said on the sidelines of a news conference announcing sale of Union ...
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COURTS/LEGAL ISSUES
APTransco issues legal notice to Spectrum Power
THE Transmission Corporation of Andhra Pradesh (APTransco) has issued a legal notice to Spectrum Power Generation Ltd (SPGL), an independent power project, to show cause why it "should not reduce" the capital cost of Rs 748.43 crore of the ...
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RESTRUCTURING
Zee Telefilms board okays capital restructuring proposals
THE board of directors of Zee Telefilms Ltd has approved capital restructuring proposals to correctly reflect the intrinsic value of the business. Investments in overseas subsidiaries standing in the books of Zee have been restructured to ...
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NEW PROJECTS
IOC plans $100-m expansion of Sri Lanka unit
INDIAN Oil Corporation plans to invest around $100 million in Sri Lanka to expand its operations. The IOC Director for Marketing, Dr N.G. Kannan, told presspersons on Friday that the Sri Lanka IOC Ltd has drawn up a comprehensive blueprint ...
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ALLIANCES & JOINT VENTURES
New Holland Tractors, Oriental Bank evolve new finance schemes
NEW Holland Tractors (India) has tied up with the Oriental Bank Of Commerce (OBC) to offer attractive finance schemes for New Holland tractor customers. Under the scheme, named OBC-NHI Agri Machinery Loan Scheme, farmers can avail themselves of ...
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Blue Star ties up with Hanbell for compressors
BLUE Star, a leading player in the air-conditioning and refrigeration sectors, has announced a tie-up with the Taiwan-based Hanbell Precise Machinery Co Ltd for supply of hermetic screw compressors. The link will now enable Blue Star to ...
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Stalemate over Tata Power's equity role in DVC project
TALKS between Tata Power Ltd (TPL) and Damodar Valley Corporation (DVC) on the Maithon Right Bank project are now in a stalemate stage over Tata Power's equity participation issue. Indications were that TPL was bargaining for a stake of around ...
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SICK UNITS
Bakelite Hylam declared sick
THE Board for Industrial and Financial Reconstruction (BIFR) has declared the Hyderabad-based Bakelite Hylam Ltd (BHL) as a sick industrial company. BHL is engaged in the manufacture of laminates, sheets, rods and tubes, phenolic moulding ...
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OUTLOOK
SAIL bets on good export growth
STEEL Authority of India Ltd (SAIL) hopes to end the current financial yearwith a 9-10 per cent in sales growth in terms of volume and 25-30 per cent in sales growth in terms value, the the newly-appointed Director (Commercial) of SAIL, Mr S.K. ...
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IOC to expand reach in Karnataka
INDIAN Oil Corporation (IOC) plans to expand its operations in Karnataka by opening more retail outlets, increasing tankage capacities and revamping oil terminals. Dr N.G. Kannan, Director (Marketing) told newspersons that the company has ...
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