The Hindu Business Line : Saturday, August 06, 2005

IICT consortium develops synthetic aviation lubricant
AN Indian consortium has indigenously developed synthetic aviation lubrication oil, which can potentially save Rs 100 crore of foreign exchange annually. The lubrication oil, a strategic material, would be tested by the IAF on two of its ... More

ANNOUNCEMENTS

IVRCL bags Rs 600-cr orders
HYDERABAD: IVRCL Infrastructures & Projects Ltd (IVRCL) has announced that its order book position has improved by about Rs 600 crore with the company's power and water divisions bagging new orders. While the power division bagged orders ... More

Exide shifts focus to replacement market
EXIDE Industries has decided to reduce its exposure in the automobile original equipment (OE) segment and focus on the high-margin replacement market. Exide controls close to 90 per cent of the domestic automobile OE market. In terms of sales ... More

Colgate Palmolive to pay 27.5 pc first interim
MUMBAI: Colgate Palmolive (India) Ltd has informed the BSE that its board of directors has declared a first interim dividend of 27.5 per cent or Rs 2.75 per share for the financial year ending March 31, 2006. The interim dividend will ... More

OVERSEAS BORROWINGS

Aurobindo Pharma raises $60m from FCCBs
AUROBINDO Pharma Ltd (APL), the Hyderabad-based pharma major, has raised $60 million through issue of unsubordinated unsecured foreign currency convertible bonds (FCCBs) to be redeemed in 2010. Barclays Capital, the investment banking division ... More

IPCL closes $100-m loan syndication
IPCL today said it had closed its $100-million, three-year, multi-currency syndicated term loan facility. According to a release, the facility was well received by the market and "significantly" oversubscribed. The loan, which carries an ... More

Tata Tele (Maharashtra) FCCB issue okayed
TATA Teleservices (Maharashtra) Ltd has acquired shareholder permission to issue foreign currency convertible bonds up to a limit of $200 million (Rs 880 crore). The company has drawn up a capital expenditure plan of Rs 700 crore for the ... More

RESTRUCTURING

RIL board okays demerger scheme
THE board of Reliance Industries Ltd tonight approved the proposed demerger scheme. Earlier, RIL got even with its erstwhile Vice-Chairman, Mr Anil Ambani, for having stolen its thunder on the day of the AGM. In a notice to the NSE today ... More

Severance of the umbilical chord
S. Murlidharan on the tax implications of the so-called demerger of Reliance More

Dr Reddy's seeks shareholder nod for Goa unit sale
DR Reddy's Laboratories Ltd has informed the Bombay Stock Exchange that its shareholders would consider to approve an ordinary resolution by way of postal ballot to transfer, sell and/or dispose off the formulations facility at Verna Industrial ... More

MERGERS & ACQUISITIONS

Reliance Ind to buy REL shares
RELIANCE Industries Ltd (RIL) has informed the Bombay Stock Exchange that, under Regulation 3(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the company proposes to acquire 7,57,50,468 equity shares of a ... More

Metropolis Health acquires Pathnet
METROPOLIS Health Services, a diagnostics company, has acquired Gribbles Pathnet India Pvt Ltd - a joint venture between Australian healthcare company Gribbles of Healthscope Ltd and Dr Reddy's Ltd. While the company did not divulge the ... More

NEW PROJECTS

Nikken eyes India, plans centre in Maharashtra
NIKKEN International, a Japanese "wellness" company, now has its designs on India. On the radar of this California-headquartered company are plans for a manufacturing and research base in Maharashtra. Nikken expects to bring its fitness, ... More

REGULATORY BODIES & RULINGS

CLB upholds share allotment to IOC in Haldia Petrochem — Shares for IDBI restrained till final order
INDIAN Oil Corporation can heave a sigh of relief for some time, with the Company Law Board declining to put any restriction on the 7.5 per cent shares allotted to it in Haldia Petrochemicals Ltd, pending a final decision on the matter. While ... More

OUTLOOK

Surana Ind expects Rs 10-cr saving from new wind farm
SURANA Industries Ltd expects to save at least Rs 10 crore a year in power costs, thanks to its recently completed 12-MW wind farm. The wind energy project, expected to start generating power from September, was put up at a cost of Rs 73 crore, ... More

GMDC plans Rs 2,000-cr investments over 2 years
GUJARAT Minerals Development Corporation Ltd (GMDC), which has reported 20 per cent drop in net profit despite higher sales for the first quarter, has lined up plans to invest Rs 2,000 crore in the next couple of years. "In the last six months, ... More

PERFORMANCE

No `Swift' delivery
IS the Suzuki Swift's excessive popularity hurting the sales of the car? That sounds like a oxymoron, but the open letter published in a few of the country's leading dailies from Mr Jagdish Khattar, Managing Director of Maruti Udyog, seemed to ... More

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