The Hindu Business Line : Thursday, June 23, 2005

L&T plans 100 more RMC plants
LARSEN & Toubro (L&T) has plans to set up 100 more ready mix concrete (RMC) plants as the business would grow manifold in the coming years, L&T Senior Vice-President (Operations) and Member of the Board, Mr K.V. Rangaswami, has said. Addr More

IOC says no plans for stake in Singapore co
INDIAN Oil Corporation Ltd on Wednesday scotched rumours about its plans to acquire stake in Singapore Petroleum Co. Denying such reports, a senior IOC official told Business Line that the State-owned company was not acquiring stake in ... More

Ranbaxy gets tentative USFDA nod for nail disorder drug
RANBAXY Laboratories Ltd has received tentative approval from the US Food and Drug Administration (FDA) to manufacture and market terbinafine hydrochloride tablets, 250 mg, indicated for the treatment of onychomycosis of the toenail or fingernail ... More

Macneill to market Linde pellet trucks, forklifts
SHORTLY after floating a 50:50 joint venture in Colombo for export of forklifts and other material handling equipment on CKD basis, Macneill Engineering Ltd has forged a tie-up with Linde of Germany for marketing the latter's range of hand pellet ... More

GVK group bags 2 Uttaranchal hydel projects
THE GVK group has been awarded the mandate for development of the 200-MW Mapang Bogudier and the 170-MW Bogudier Sirkiri Bhyol hydel projects by the Uttaranchal Government in the face of competition from international bidders. These projects ... More

Beckons plans Rs 87-cr farm project
BECKONS Industries Ltd (BIL) has announced that it is exploring the possibilities of entering into production and marketing of value-added agri produce such as cherry tomato and capsicum produced in controlled temperature of greenhouses. The ... More

Toyota Kirloskar doubles higher-end Innova production
TOYOTA Kirloskar Motor has doubled the production of the higher-end models of its crossover vehicle, Innova. The company's Director for marketing, Mr T. Ino, said that earlier the higher-end models of Innova constituted 35 per cent of the ... More

SBEC enters speciality sugar biz with Originale
SBEC Sugar Ltd, part of the Rs 1,100-crore UK Modi group, has entered the premium speciality sugar products market with the launch of `Originale'. The company has invested between Rs 15-20 crore in the speciality sugar business, catering to ... More

Praj buys rights for fuel ethanol tech from US co
PRAJ Industries Ltd, an ethanol supplier, has concluded the purchase deal for worldwide rights from US-based Delta T Corporation for molecular sieve dehydration technology for fuel ethanol production on a non-exclusive basis, the Chairman, Mr ... More

CORPORATE DISPUTES

Anil Ambani meets PM, Chidambaram
WITH the family feud finally off his mind, the younger of the two Ambani brothers, Mr Anil Ambani, today met the Prime Minister, Dr Manmohan Singh, the Finance Minister, Mr P. Chidambaram, the Home Minister, Mr Shivraj Patil, the Minister for ... More

CREDIT RATING

Moody's to review Reliance rating
MUMBAI: International rating firm Moody's Investor Service on Wednesday announced that it would review, for possible upgrade, the Ba2 ratings of Reliance Industries Ltd (RIL). In a statement, it said the resolution of the family ... More

MERGERS & ACQUISITIONS

Exim Bank, SBI may pick up stake in Ucal's US arm
EXIM Bank of India and State Bank of India are expected to invest in the equity and debt respectively of the US-based AMTEC Precision Products, a company that has just been acquired by Ucal Fuel Systems Ltd. Exim Bank is likely to take a 20 per ... More

CORPORATE GOVERNANCE

`Related' revelations
The Irani Committee proposals on related party transactions will help improve corporate governance, says Preeti Malhotra More

Corporate governance trust asks chambers to prepare list of independent directors
THE National Foundation for Corporation Governance (NFCG) on Wednesday asked the apex chambers and professional bodies to prepare a list of independent directors so that a database is ready by November 15 to enable India Inc for meeting the ... More

`Govt waiting for RoCs' report on Anil Ambani's complaints'
THE Government on Wednesday said it was yet to receive reports with regards to complaints of violation of corporate governance issues in the Reliance group. The complaints had been filed by Mr Anil Ambani. Mr Anil Ambani reached a settlement ... More

`Ethics in business has to reflect ethics in society'
POINTING out that `ethics' had no connection as such with business or any other entrepreneurial activity, Mr Gopalkrishna Gandhi, Governor of West Bengal, said here today that "ethics in business has to reflect ethics in society". Participating ... More

NEW PROJECTS

ISCL commissions cold-rolling mill
INDIAN Steel Corporation Ltd (ISCL), part of the Ruchi group, has started the trial run of its cold-rolling mill. ISCL, situated in Gandhi Dham in Kutchch district of Gujarat, has been set up with an investment of Rs 580 crore. ISCL proposes ... More

Zaheer Khan to launch restaurant in Pune
AFTER Sachin Tendulkar and Saurav Ganguly, it's now Zaheer Khan's turn to venture into the lucrative restaurant business with ZK's, a multi-cuisine restaurant and lounge in Pune. It will be launched on June 27 with a party that is expected to be ... More

ALLIANCES & JOINT VENTURES

Indo Asian Fusegear to market products of Italian company
INDO Asian Fusegear Ltd has entered into a strategic alliance with Lovato Electric of Italy to market a wide range of industrial electrical products in India. These include motor protection circuit breakers (MPCBs). Lovoto Electric is a Rs ... More

Kalani group, US co tie up for anti-odour fibre
NOBLE Fiber Technologies of the US and the Kalani Group of Industries have tied up to bring X-static, a silver-coated fibre that enhances anti-odour, anti-static and thermodynamic properties of fabrics, into the country. The partnership ... More

OUTLOOK

Tata Steel aims at 15 mt by 2010 — In talks for more overseas acquisitions
TATA Steel is working on overseas acquisitions and domestic capacity addition that would make it into a 15-million-tonne steel producing company by 2010. Apart from the 5 mt capacity at Jamshedpur, Tata Steel has recently added another 2 mt ... More

Yash Papers to focus on exports, plans public issue
YASH Papers Ltd, a speciality paper manufacturer, is planning to increase its export turnover and looking at the Australasian region. "Currently, 20 per cent of our revenue comes from exports and we want to take this to 40 per cent," said Mr ... More