CORPORATE
ANNOUNCEMENTS
Jindal Stainless bags French mint order
JINDAL Stainless Ltd (JSL) has bagged an order for supplying 200 million pieces of steel coin blanks valued at 1.6 million euros from Monnaie De Paris (The French Mint). The company is also in the process of signing a supplier agreement with ...
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Astra Microwave bags Rs 53-cr orders
ASTRA Microwave Products Ltd has informed the stock exchanges that it has received orders worth Rs 53.7 crore. According to the company, it has received a letter of intent (LOI) worth Rs 50 crore from Bharat Electronics Ltd, Bangalore, for supply ...
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`L&T staff won't gain from shares held by Trust'
EMPLOYEES of Larsen & Toubro will not profit from appreciation or otherwise of the shares held by employees' trust, which was created to buy over Grasim's nearly 16 per cent share in L&T in the demerger deal, said Mr A.M. Naik, Chairman &
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ACCOUNTING STANDARDS
Dr Reddy's appoints new cost auditors
DR Reddy's Laboratories Ltd has informed the stock exchanges that its cost auditors, R.R. Sharma & Co, have expressed intention not to opt for re-appointment for the current fiscal. Accordingly, the company's board at a meeting on May 29 ...
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AWARDS & HONOURS
NTPC excellence award
MERGERS & ACQUISITIONS
KONE arm to merge with Bharat Bijlee elevator biz — New co to be called Olympus Elevators
Bharat Bijlee is demerging its elevator division, which manufactures Olympus brand of elevators. This business is to be integrated with KONE Elevators's subsidiary called Tiger Elevators India Ltd.
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ONGC Videsh eyeing acquisitions — Surveying properties in W. Africa, CIS, Latin America
ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), is surveying oil and gas properties in West Africa, CIS countries and Latin America to acquire assets or equity stakes. It plans to invest around $1 billion per ...
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NEW PROJECTS
KRBL plans Rs 100-cr expansion
WITH the common minimum programme (CMP) announced by the Congress (I)-led UPA Government at the Centre laying a cardinal thrust on farm sector, the sentiment sweeping across companies engaged in various agri-related activities is upbeat. Many ...
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Volkswagen in talks for car assembly line in AP
TOP brass from the German automotive major, Volkswagen, currently in India exploring options to locate a greenfield car assembly line, on Friday met the Chief Minister, Dr Y.S. Rajashekara Reddy, and the Finance Minister, Mr K. Rosaiah.The German ...
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ALLIANCES & JOINT VENTURES
Webasto setting up venture with Sumi Motherson
WEBASTO AG, a Germany-based automotive sunroofs maker, and Sumi Motherson of India are setting up a joint venture in the country with an initial investment of 1.5 million euro. The joint venture, Webasto Motherson Sunroofs, would be 51 per ...
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Tata Power in pact with Saudi co
TATA Power Company Ltd (TPC) said it has signed an agreement with the National Power Company, Saudi Arabia, to jointly set up a 100 MW co-generation power plant in the industrial city of Jubail to supply power and steam to Sahara Petrochemical ...
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SICK UNITS
BIFR likely to clear proposals for Alind rehab
THE long-drawn exercise to rehabilitate the ailing Aluminium Industries Ltd (Alind) appears to be nearing an end with the Board for Industrial and Financial Reconstruction (BIFR) expected to shortly clear the proposals forwarded by the operating ...
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OUTLOOK
LG Electronics to raise plasma display panel production
AFTER establishing itself in the mass market, the Indian arm of the Korean consumer electronics and durables major LG Electronics, LG Electronics India Pvt Ltd (LGEIL) is now targeting the niche product market with its plasma display panels ...
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`Adlabs' IMAX break-even schedule on course'
HARRY Potter does not excite Mr Manmohan Shetty though theoretically his IMAX dome theatre in the city should gain from the imminent release of the third film on the child magician. The IMAX dome, the world's biggest, is part of a larger ...
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