The Hindu Business Line : Wednesday, July 06, 2005

Srinivasa Shipping to invest Rs 200 cr in realty in Chennai
SRINIVASA Shipping and Property Development Ltd plans to invest about Rs 200 crore in the next 36 months to develop commercial real estate in Chennai. The company plans to develop a mall covering 1.2 lakh sq. ft opposite Taj Coromandel on ... More

Hikal gets shareholders' nod to raise Rs 100 cr
HIKAL Ltd has received the approval of its shareholders to raise up to Rs 100 crore by issuing further capital. According to Mr Jai Hiremath, Hikal's Vice-Chairman and Managing Director, funds were being raised to make further acquisitions in ... More

Madhucon bags Rs 273-cr order
HYDERABAD: Madhucon Projects Ltd has received a Letter of Intent from the National Highway Authority of India (NHAI) for the construction of a 4-lane stretch on the Nagaon-Dharamtul section of NH-37 in Assam on the East West Corridor under ... More

CORPORATE DISPUTES

Lodha counsel opposes plea for adding parties to suit
THE counsel for Mr R.S. Lodha on Tuesday opposed the application of Mr Kashi Nath Tapuria and Mr Pradip Khaitan for being added as parties in the pending testamentary suit for granting of probate in Priyamvada Birla;s will. The matter came up for ... More

OVERSEAS BORROWINGS

Aurobindo Pharma plans to raise $60 m in global markets
AUROBINDO Pharma Ltd (APL) plans to raise funds worth $60 million (Rs 264 crore) in the international markets. The company is upbeat on getting four US Food and Drug Administration approvals for its generic anti-retroviral drugs (ARVs), which ... More

RESTRUCTURING

Indian Oil plans organisational revamp — To exit from four joint ventures
In a move to consolidate its business activities, the company has decided to exit from four out of nine joint ventures. The aim is to present a lean, thin and stronger balance sheet in 2005-06. IOC has already taken an initiative to merge four ... More

MERGERS & ACQUISITIONS

Videocon plans merger of two group companies
THE VIDEOCON group on Tuesday said that it is planning to merge two of its group companies, Videocon Industries and Videocon International. According to Mr V.N. Dhoot, Managing Director, Videocon International, the amalgamation of the ... More

Finolex Cables gets HC nod for group cos merger — Electrical cables sales rise 55 %
THE Mumbai High Court today approved the merger of Finolex Wire Products Ltd and Finolex Finance Ltd with Finolex Cables Ltd. Mr P.P. Chhabria, Chairman of Finolex Cables Ltd, said the merger was being done to achieve business synergy and ... More

NEW PROJECTS

Jindal Steel to raise capacity of Orissa plant
JINDAL Steel and Power Ltd (JSPL), which signed a memorandum of understanding (MoU) with the Orissa Government in October last year to set up a 2 million-tonnes-per-annum (mtpa) steel mill in the State, has decided to enhance the capacity of ... More

Agro Dutch to invest Rs 100 cr for expansion
AGRO Dutch Industries Ltd has informed the BSE that it plans to invest Rs 100 crore towards capacity expansion. The expansion is expected to be completed within 12 months. Agro Dutch will fund the expansion process through its internal ... More

Mangalore Chem plans to set up sulphuric acid plant
THE Mangalore Chemicals and Fertilizers (MCF) Ltd is planning to set up a sulphuric acid plant with a production capacity of 100 tonnes per day at a cost of Rs 12 crore. Addressing newspersons here recently, Mr P.C. Jain, Director (Works), ... More

TRADE & LABOUR UNIONS

Bottling plant in Uttaranchal — PepsiCo workers' strike continues on transfer issue
PEPSICO India is facing a workers' agitation at its Company Owned Bottling Plant in Bajpur, Uttaranchal, which has an installed capacity of one lakh cases of soft drink per day. About 87 permanent employees at this plant have been on strike since ... More

ALLIANCES & JOINT VENTURES

Ranbaxy, JB Chem in deal to market herbal brand in Romania
RANBAXY Laboratories Ltd has entered into an in-licensing agreement with JB Chemicals & Pharmaceuticals Ltd (JBCPL), India to market the latter's herbal brand, Doktor Mom, in the Romanian market. The Doktor Mom range includes syrup, lozenges ... More

DIVERSIFICATION

Audiobooks co Karadi Tales plans to enter film, TV space
KARADI Tales Company, the Chennai-based publisher of audiobooks, is bullish about its future. Banking big on its plans to enter film and television production, beef up presence in the US and produce more books for adults, Karadi hopes to make a ... More

PEOPLE

UB makes top-level changes in finance team
Mr A. Harish Bhat has been appointed as the Executive Vice-President of Group Finance. He will be responsible for the group's corporate finance activities, including all promoter funding, equity and debt raising, mergers, acquisitions and ... More

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