The Hindu Business Line : Friday, August 19, 2005

ONGC begins salvage operations at Bombay High
ONGC has begun salvage operations to clear the charred remains of the Bombay High North platform, which was involved in the recent fire accident. The operation is being carried out with technical support from Kerney, the makers of the ... More

ANNOUNCEMENTS

Tata Motors launches 2 luxury variants of Indigo
TATA Motors today informed that the Tata Indigo sedan would be available in two luxury variants - the Indigo SX and GSX. The models would cater to the premium end of the sedan segment, an official statement said. "The Indigo SX series of ... More

BHPV gets Rs 47-cr order
VISAKHAPATNAM: The Bharat Heavy Plate and Vessels Ltd (BHPV) has bagged another order from the Hindustan Petroleum Corporation Ltd (HPCL), Visakha refinery, for supply of fired heaters package on turnkey basis, according to a press release ... More

Suven in talks with 3 US cos
HYDERABAD: Suven Life Sciences is negotiating with three US companies for new business opportunities in Phase II and Phase III clinical trials. The Hyderabad-based company has discovered new business opportunity in DDDSS (Drug Discovery ... More

Lupin gets USFDA nod
MUMBAI: Lupin Ltd on Thursday said that it has received USFDA approval for its Abbreviated New Drug Application (ANDA) for Cephalexin for Oral Suspension USP, 125 mg/5 ml and 250 mg/5 ml. "We have identified cephalosporins as one of our ... More

Pennar Steel warrants issue
HYDERABAD: The shareholders of Pennar Steels Ltd, at the annual general meeting held here on Tuesday, approved a proposal to offer 1.6-crore equity warrants convertible into equity shares. The company informed the stock exchanges that ... More

Oudh Sugar to pay 25 pc dividend
OUDH Sugar Mills Ltd (OSML), a K.K. Birla group company, has recommended dividend of 25 per cent for the year ended June 30, 2005 at a meeting held on Thursday. The company reported turnover of Rs 356.04 crore for the year ended June 2005, up ... More

INSIGHT

Tata Steel vs POSCO - A tale of two MoUs
THE Orissa Government has offered the South Korean steel major POSCO superior terms to persuade the latter to set up a steel plant in the State than the ones on which it got the Tatas to do the same, documents available with Business Line ... More

MERGERS & ACQUISITIONS

Cabinet seeks more details on KRL merger with BPCL
THE Finance Minister, Mr P. Chidambaram, today said that the Union Cabinet has sought more information on the proposed merger of Kochi Refineries Ltd (KRL) with BPCL. The Cabinet is understood to have taken up the issue but no decision could be ... More

Tatas to acquire UK co Incat for Rs 416 cr
TATA Technologies Ltd (TTL), through its subsidiary Tata Technologies Inc USA, intends to acquire a UK-based company for £53.40 million (Rs 416 crore). TTL is 94.31 per cent owned by Tata Motors Ltd and the automobile major is expected to advance ... More

ONGC not keen on Govt's merger proposal for MRPL
ONGC is not finding much substance in the proposal mooted by the Union Ministry of Petroleum and Natural Gas to merge Mangalore Refineries and Petrochemicals Ltd (MRPL) — a standalone refinery — with an oil marketing company. . The ... More

Fidelity acquires IVRCL shares
HYDERABAD: Fidelity Investments along with other entities has acquired 5,90,171 equity shares of IVRCL Infrastructure & Projects Ltd, aggregating to 2.81 per cent its paid up capital. IVRCL informed the stock exchanges that the mode of ... More

NEW PROJECTS

Yamaha plans second wholly-owned subsidiary — To trade in two-wheelers and parts
JAPANESE automotive major, Yamaha Motor Company is planning to set up a second wholly owned subsidiary in India. The new subsidiary would co-exist with its current Indian subsidiary, Yamaha Motor India, and would engage in trading of two ... More

Greenply plans Rs 80-cr plant in Uttaranchal
GREENPLY Industries Ltd today announced plans to set up a greenfield facility in Uttaranchal with an investment of Rs 80 crore. The plant would be located at Uttaranchal to capitalise on the fiscal concessions being offered by the State ... More

INTERVIEW

Lanka IOC plans mid-sea bunkering point off Trincomalee
HAVING captured 30 per cent share in the retail petroleum products market, Lanka IOC, a wholly-owned subsidiary of IOC, is now looking beyond Sri Lanka, exploring the opportunity of offering bunkering facilities to ships that pass the shipping ... More

OUTLOOK

Analysts predict tough quarters for HLL
Analysts were of the opinion that HPC products operate in a largely saturated market barring shampoos and skin creams. More

PERFORMANCE

Sundram Fasteners' China unit doing Rs 1-cr biz a month
SUNDRAM Fasteners (Zhiejiang), which is India's first engineering unit to be set up in China, has picked up business and is currently doing business worth Rs 1 crore a month, the Chairman and Managing Director of Sundram Fasteners Ltd, Mr Suresh ... More

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