ACCOUNTING STANDARDS
As deadline for Sarbanes-Oxley compliance nears — MNC arms rush to Indian accounting firms
With a mere four more months away for the deadline for Sarbanes-Oxley (SOX) compliance, Indian accounting firms are seeing a rush of business from subsidiaries of multinationals. According to industry estimates, the business is worth Rs 400-500 ... More

NEW PROJECTS
Amul setting up Rs 58-cr powder plant in Gujarat
THE Gujarat Co-operative Milk Marketing Federation (GCMMF) is putting up a 100 tonnes per day (tpd) powder plant alongside its existing Mother Dairy plant in Gandhinagar at a cost of Rs 58 crore. The 13-month turnkey project has been awarded ... More

Italian casual wear company to set up shop in India
AN Italian casual wear fashion company is pumping $130 million into the Indian textile industry by setting up a series of operational outfits, taking due advantage of the imminent end to the textile quota regime and free trade in textiles and ... More

German genomics major MWG sets shop in Bangalore
THIS could be the beginning of the bio rush into the country. European genomics major MWG Biotech AG has chosen Bangalore as its Asia base and has already gone into production mode at its facility at Bommasandra here. The Munich-based MWG has ... More

ALLIANCES & JOINT VENTURES
Cargill in pact with Parakh Foods to expand edible oil business
THE Indian arm of the US agri-business giant Cargill India is set to considerably expand its edible oil business in the country. As a prelude, the multinational has signed a memorandum of understanding with Parakh Foods Ltd, owners of Gemini, one ... More

INTERVIEW
`Steel prices unlikely to shoot up immediately'
FROM an extremely turbulent and uncertain past Vizag Steel Plant (VSP) belonging to the Central public sector unit, Rashtriya Ispat Nigam Ltd, has come a long way to become a zero-deficit company. Sales are soaring and profits rising. The ... More

OUTLOOK
Himatsingka plans foray into bed linen
SILK fabrics-exporting major Himatsingka Seide Ltd plans to tap local and international bed-linen markets to spur growth. The move comes close on the heels of the company's foray into the retail segment through its Atmosphere chain of shops. ... More

PERFORMANCE
SAIL posts all-time high Q1 production
STEEL Authority of India Ltd (SAIL) has reported a sale of 1.66 million tonnes of finished steel during the April-June quarter, which is the highest-ever first quarter sales for the company marking a nine per cent increase over the same period ... More

PEOPLE
Harish Krishnamachar quits TVS
THE marketing operations of TVS Motor Company will see a change of guard with Mr Harish Krishnamachar quitting the post of Vice-President. Mr Krishnamachar has been the visible face of the two-wheeler company and associated with the success of ... More

TRENDS
Corporates opt for floaters to raise funds
In the last couple of months, about Rs 3,000-5,000 crore have been raised by way of floaters. More

Indal's Kerala unit on the verge of closure
INDIAN Aluminium Company Ltd (Indal), the Aditya Birla group company located at nearby Eloor, might face closure due to high cost of power and the "un-conducive" attitude of the workers. The management had shut down the smelter unit on August ... More