CORPORATE
ANNOUNCEMENTS
Amara Raja bags Maruti order
MARUTI Udyog Ltd has agreed to buy batteries for its cars from Amara Raja Batteries Ltd. "It is expected that the agreement should see Amara Raja supply 1,00,000 batteries to Maruti over the next twelve months," according to a press release ...
More
Micro Labs dumps rofecoxib drug
THE Merck action has started hurting. Micro Labs has stopped production of its drug Rufica. The drug based on patent holder Merck's rofecoxib molecule was a Rs 5-crore brand for the company and figured among the top five domestic brands. With ...
More
PRIVATE PLACEMENT
Tata Power raises Rs 600 cr
MUMBAI: Tata Power has raised Rs 600 crore through private placement of debentures. The debentures were issued at a yield-to-maturity of 7.1 per cent, said a news release from the company. The company will utilise the issue proceeds for ...
More
CORPORATE DISPUTES
Birla Corp seeks CLB stay on minority shareholders' petition
IN the latest episode of the Birla-Lodha saga, Birla Corporation Ltd has moved two applications before the Company Law Board (CLB) seeking vacation of the interim order passed by it and granting stay or dismissing the petitions filed by the ...
More
COMPANY LAW
Corporates wary of proposed special audit
INDIA Inc has expressed apprehensions that the `special audit' system proposed in the concept paper on revamped company law could lead to leakage of confidential matters of a company. In other words, a company ends up disclosing more than ...
More
MERGERS & ACQUISITIONS
Merger of NFCL with NPIL
HYDERABAD: Nagarjuna Fertilizers & Chemicals Ltd (NFCL) has informed bourses that its board has approved the merger of Nagarjuna Palma India Ltd (NPIL), an unlisted and a subsidiary company, with NFCL at the share exchange ratio of 5 ...
More
NEW PROJECTS
Euro Ceramics to invest Rs 100 cr to hike output
The company would fund the expansion through internal resources and loans. It has already started negotiating with a couple of public sector banks to fund the project.
More
L&T to set up fabrication unit in Gulf region
LARSEN & Toubro is planning to set up a mega modular fabrication facility in one of the Gulf states on the lines of its Hazira yard in Mumbai.. Mr Joseph Mathew, General Manager, International Business development, L&T, who is here to ...
More
ALLIANCES & JOINT VENTURES
Bidding for global projects — PowerGrid ties up with Netherlands co
POWER Grid Corporation of India Ltd has tied up with ECC-Keema of the Netherlands to bid for global transmission and power system improvement projects. Mr R.P. Singh, Chairman and Managing Director, Power Grid Corporation, said at a press ...
More
RIGHTS ISSUE
Hudco seeks to convert outstanding CIAL loan to equity
THE Housing and Urban Development Corporation (Hudco) is understood to have decided to convert Rs 52 crore outstanding against Cochin International Airport Ltd (CIAL) into its equity in the airport company, and in that event, it will pour cold ...
More
OUTLOOK
Kinetic bullish on auto components sales — Launches Comet at Rs 1.67 lakh
TWO-WHEELER maker, Kinetic Engineering Ltd, is betting on making a mark in the fast growing auto components' arena. It plans to increase sales of components to companies such as Visteon Corp. and Bajaj Tempo Ltd. "Kinetic plans to sell Rs 60 ...
More
ONGC set to recover dues from Gujarat PSUs
OIL & Natural Gas Corporation (ONGC) is finally expecting recovery of dues worth over Rs 6,000 crore from six State public sector undertakings (PSUs) and one municipal body in Gujarat. The dues have accumulated on account of supply of natural gas
More
IOC's borrowings shoot up 48 pc
INDIAN Oil Corporation (IOC) is likely to take a dent on its second quarter profits, largely due to non-revision of retail petroleum product prices in the wake of hardening crude prices and the shutdown of the 2-million tonne Mathura ...
More
PERFORMANCE
Hyundai spare parts sales fetch more
DRIVEN by higher sales of cars, Hyundai Motor India Ltd earned about Rs 160 crore in 2003-04 through the sale of spare parts, against Rs 125 crore the previous year. The income from this source in the export market was also higher - Rs 11.5 ...
More
Arch Pharmalabs out of BIFR purview
MERVEN Drug Products Ltd (MDPL), now known as Arch Pharmalabs Ltd, has come out of the Board for Industrial and Financial Reconstruction (BIFR) purview. At the recent hearing, the BIFR bench noted that the total net worth of the company was ...
More
Scoreboard
SE Diary
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds