OPEN OFFERS
TTK open offer for TTK Healthcare
TTK & Co, the promoter of TTK Healthcare, has announced a public offer of 25 per cent of the latter's shares at a price of Rs 30 a share in order to consolidate its holding in the company. The offer has been made in the names of the partners of . More

CORPORATE DISPUTES
Birla counsel argues in favour of caveatable rights
RESUMING the argument in support of caveators in the probate case of Late Priyamvada Birla before Mr Justice K.J. Sengupta of the Calcutta High Court on Thursday, Mr P.K. Roy, counsel for the Birlas, once again reiterated that at no point of time ... More

RESTRUCTURING
Workers resent delay in restructuring of FACT
OVER 4,200 workers and officials in the central public sector undertaking Fertilisers and Chemicals Travancore Ltd (FACT) at Udyogamandal appear to be frustrated over the delay in restructuring the company. Despite the visit of the Union ... More

MERGERS & ACQUISITIONS
Swedfund picks up 17.24 pc stake in Indian Infrastructure Equipment
SWEDFUND International AB, the risk capital company owned by the Swedish Government, has returned to India after a gap of 10 years by acquiring a 17.24 per cent equity stake worth euro 4 million in Indian Infrastructure Equipment Ltd ... More

NEW PROJECTS
P&G plans to set up shampoo manufacturing unit
PROCTER & Gamble is planning to set up its third manufacturing facility in India for shampoos but no final decision on the location and investment has been taken, the company Executive Director, Mr Ashok Chhabra, said here today. "We have been .. More

Omax to set up captive unit for Tenneco of US
DESPITE a perceived threat emerging from the Thai FTA, sourcing of automotive components from India shows little sign of slowing down. Latest to join the bandwagon is the Rs 478-crore domestic automotive components manufacturer, Omax Autos, ... More

Reliance Energy to set up Haryana thermal plant
THE Haryana Cabinet, which met here today under the chairmanship of the Chief Minister, Mr Om Prakash Chautala, approved the decision of the Special High Powered Purchase Committee to get a 600-MW thermal power plant set up at Yamunanagar ... More

Ahluwalia Contracts to invest Rs 35 cr in new ready mix concrete plants
CLOSE on heels of foraying into the ready mix concrete (RMC) business under the brand AHLCON RMC, construction company Ahluwalia Contracts (India) Ltd plans to invest Rs 35 crore for setting up four plants in Gurgaon, Noida, Ahmedabad and ... More

Harrisons to open as boutique hotel
HARRISONS, the 100-year-old hospitality brand and part of old Madras, is set to open again as a boutique hotel on October 8. The project is a 50:50 venture between Mr P. Hariraj, the proprietor, and Mr Sunny Pokala, an NRI, who is the Chairman ... More

OVERSEAS INVESTMENTS
India dons foreign direct investor mantle
BUOYED by the inroads made by its software, biotech, auto ancillary and oil companies abroad, India seems to have dropped the tag of being just an FDI destination and is increasingly donning the mantle of a major foreign direct investor. And the ... More

ALLIANCES & JOINT VENTURES
Radico inks pact with Highland Distillers to distribute Famous Grouse Sctoch whisky
HIGHLAND Distillers, part of the Scotch whisky major The Edrington Group, and Radico Khaitan Ltd, one of the largest liquor companies in the country have signed a distribution agreement to market a few brands from Highland's portfolio. Under ... More

SAIL tie-up with BHP Billiton to develop mines
STEEL Authority of India Ltd (SAIL) has signed a memorandum of understanding (MoU) with BHP Billiton (BHPB) to form a strategic alliance for jointly developing coking coal and iron ore mines in India as well as other countries. SAIL currently ... More

IOC, TAFE enter marketing tie-up
INDIAN Oil Corporation (IOC) and Tractor and Farm Equipments Ltd (TAFE) have entered into a mutual tie-up to market each other's products. IOC launched here today its exclusive engine oil `TAFE Engine Oil' for tractors manufactured by TAFE and ... More

OUTLOOK
Andrew Yule's tea unit sees better days ahead with prices looking up
THE working capital starved Andrew Yule & Co. Ltd (AYCL), a Government of India enterprise, which has already received Rs 49 crore in two tranches (in October 2003 and January 2004) from the Government as part of the approved financial and ... More

Essar eyes auto component sector with new-grade steel — Ties-up with Delphi for supply to GM
ESSAR Steel Ltd (ESL) seems to be keen to get on the right track with the automotive manufacturers of the country with a new grade steel that fits their bill for enhanced fuel efficiency. And what could be a better way than to get the US ... More

PEOPLE
Fortis Healthcare appointment
MUMBAI: Fortis Healthcare Ltd, a Ranbaxy promoter group company, has announced the appointment of Dr Ashok Rajagopal as Director of the orthopaedic department. He will also be the Head of Department for Fortis Jessaram Hospital. ... More

Acting CMD for Vizag Steel
VISAKHAPATNAM: Mr C. Appa Rao, Director (Personnel), assumed charge as the acting Chairman and Managing Director of Rashtriya Ispat Nigam Ltd (Visakhapatnam steel plant) on Thursday, as Mr B.K. Panda retired. Mr Appa Rao joined the ... More