The Hindu Business Line : Saturday, July 23, 2005

WHO approval for 2 Matrix Lab facilities
MATRIX Laboratories Ltd has obtained certification for implementing Good Manufacturing Practices (GMP), from the World Health Organisation (WHO), Geneva, for two of its facilities located near Hyderabad and Visakhapatnam. The manufacturing ... More

Philips India to launch health product range by next year
THE Rs 3,000-crore Philips India is gearing up to enter the consumer health and wellness products space. It is likely to launch a range of products by end 2006 that will take diagnostics and wellness monitoring from the public domain and bring ... More

BUYBACK

Reliance Ind board to take up early closure of buyback
RELIANCE Industries Ltd is going to consider an early closure of its buyback offer at its board meeting next Wednesday, the company told BSE today. Such a decision would cut short the buyback offer period, fully five months before its ... More

PREFERENTIAL ALLOTMENTS

Magma Leasing clears preferential allotment
THE members of Magma Leasing Ltd, at a specially convened EGM here today, gave their approval to the company's proposed preferential allotment of 38,00,000 equity shares of Rs 10 each to five entities (a combination of institutional investors and ... More

OUTSOURCING

Continental in talks with Wipro to outsource IT needs
GERMAN automotive major Continental AG today said it is in discussion with Wipro to outsource some of its IT-related requirements, and a final decision would be taken in a few months. "We are in talks with Wipro for sourcing one of our IT job ... More

MERGERS & ACQUISITIONS

GAIL board clears equity participation in Ratnagiri Gas
THE Board of Directors of GAIL (India) Ltd on Friday approved an equity contribution of Rs 500 crore in Ratnagiri Gas and Power Private Ltd (RGPPL), a 50:50 joint venture between GAIL and NTPC for taking over the assets of the Dabhol Project. ... More

IOC awaits Govt nod to offload stake in ONGC
INDIAN Oil Corporation (IOC) is still awaiting the Government's approval to offload the company's stake in Oil and Natural Gas Corporation (ONGC). According to IOC sources, the company has been making a request to the nodal Ministry, which is ... More

NEW PROJECTS

Forever Precious sees sparkling market — To set up unit in Ahmedabad
FOREVER Precious Jewellery & Diamonds Ltd (FPJDL), an associate company of Su-Raj Diamonds & Jewellery Ltd, is setting up a gold jewellery manufacturing plant at Ahmedabad. Su-Raj Diamonds & Jewellery Ltd holds 49 per cent equity stake in More

Balrampur Chini plans another facility for sugar in eastern UP — Announces 60 pc growth in Q1 net
SUGAR major Balrampur Chini Mills Ltd on Friday announced that it would be setting up another integrated sugar complex with a cogeneration power plant and a distillery at Maknapur in eastern Uttar Pradesh. The complex would have a plant with ... More

NTPC plans to set up power plants linked to coal mines
WITH a view to overcoming the shortage of coal supply in the long term, NTPC, the country's largest consumer of coal and the largest power producer, has decided to go for integrated projects that involve the setting up of pithead power plants ... More

Leela Group plans Rs 900-cr expansion
THE Leela Group, which has just relaunched its beach resort in Kovalam, plans a capital outlay of about Rs 900 crore for expansion in Chennai, Udaipur and Hyderabad. In addition to this, another 120 guest rooms will be added to the Bangalore ... More

Leela group to expand apparel unit capacity
THE Mumbai-based Leela group will invest approximately Rs 5 crore in increasing the capacity of its apparel manufacturing facility located at the Kinfra International Apparel Park in Thiruvananthapuram. According to Mr Venu Krishnan, Executive ... More

TRADE & LABOUR UNIONS

Review closure order on HIL, say trade unions
THE Save HIL Samyukta Trade Union Samithy, a joint forum of trade unions at the public sector Hindustan Insecticides Ltd (HIL), has demanded that the Supreme Court Monitoring Committee (SCMC) on hazardous waste should re-examine its order ... More

ALLIANCES & JOINT VENTURES

ONGC, LNM Group to form joint venture for overseas buys
ONGC is set to ink an agreement on Saturday with steel tycoon Mr L.N. Mittal's group (LNM Group) for floating a joint venture consortium for overseas acquisitions. The MoU is expected to pave the way for formation of project-specific joint ... More

Avestha's Danish partners invest 5 m euros in joint venture
AVESTHA Gengraine Technologies Pvt Ltd has announced that its two Danish partners have invested 5 million euros (around Rs 26 crore) in its Danish joint venture. The investment follows a triangular alliance formed last year. The ... More

OUTLOOK

Merck returns to India — To invest $15 m; focus on sales, R&D
IT is a second coming for the US-based pharmaceutical major Merck & Co. The company has announced commencement of operations through its wholly owned subsidiary MSD Pharmaceuticals Pvt Ltd. And for starters, it will introduce two drugs, Zienam . More

FACT may partner GAIL in petrochemical complex
FERTILISERS and Chemicals Travancore Ltd (FACT) is in the process of becoming a joint venture partner in the Petrochemical complex proposed to be set up in Kerala by GAIL. Preliminary discussions are over and GAIL (India), whose response has ... More

BPCL mulls petrochem feedstock production at Bina refinery
BPCL is considering production of a range of petrochemical feedstock at the proposed refinery at Bina in Madhya Pradesh. While the detailed feasibility report is expected to be ready in August, the six-million-tonne refinery is expected to ... More

Samsung bets big on digital media products
The company expects digital media products to chip in 30 per cent of the revenue. More

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