The Hindu Business Line : Wednesday, September 28, 2005

OTS for Hyderabad Flextech
HYDERABAD Flextech Ltd (HFL) has received one time settlement (OTS) approval from the Industrial Development Bank of India (IDBI). In a communication to the stock exchanges, the company said that the OTS is approved for Rs 5.5-crore against ... More

Global Steel Holdings in consolidation mode
FOR now, consolidation is the name of the game for the M.L. Mittal-Pramod Mittal-promoted Global Steel Holdings Ltd. The company manages over 14 million tonnes (mt) of steel-making capacities located in five countries across Europe, Africa and ... More

SAAG RR bags Rs 6.92-cr NTPC order
SAAG RR Infra Ltd has informed BSE that the company has bagged an order worth Rs 6.92 crore from National Thermal Power Corporation (NTPC). The work includes architectural design, structural design and construction of administrative building at ... More

Aurobindo gets USFDA nod
HYDERABAD: Aurobindo Pharma Ltd has obtained a tentative approval from the US Food and Drug Administration (USFDA) for the abbreviated new drug application (ANDA) of Setraline Hydrochloride in tablets of 25 mg (base), 50 mg (base) and 100 ... More

L&T Oman arm bags Rs 165-cr order
MUMBAI: Larsen & Toubro's Oman-based associate company has won a Rs 165-crore order in that country. Larsen & Toubro Electromech LLC (Oman) (LTEM) will revamp and upgrade transmission lines and substations for Petroleum Development Oman ... More

Ansal to pay 5% final
NEW DELHI: Ansal Properties and Infrastructure Ltd (APIL) has declared a final dividend of five per cent on the post bonus paid-up equity share capital for the year ended March 31, 2005. "This is in addition to the declaration and ... More

CORPORATE DISPUTES

Chatterjee Group charges Bengal Govt, HPL with mismanagement
THE Chatterjee Group (TCG), one of the major stakeholders in Haldia Petrochemicals Ltd (HPL), today repeated its allegations of oppression and mismanagement by the West Bengal Government, HPL, and the West Bengal Industrial Development ... More

OVERSEAS BORROWINGS

CESC closes global depository shares offer
CESC Ltd has concluded its offer of Global Depository Shares (GDSs), on Tuesday, for $40 million within a day of its launch on Monday. The offer was made at $5.0437 per GDS comprising one equity share at Rs 222 per equity of Rs 10 each. The ... More

MERGERS & ACQUISITIONS

Kanishk Steel to merge 2 group cos with itself
THE Chennai-based Kanishk Steel Industries Ltd has informed the stock exchange of a plan to merge two group companies with itself. A shareholders meeting of Kanishk Steel members has been called for October 13 to approve the merger of O.P. ... More

NEW PROJECTS

Kanoria Chem plans Rs 150-cr expansion
THE board of directors of Kanoria Chemicals & Industries Ltd (KCIL) today approved increase in the chlor alkali manufacturing capacity by 110 tonnes per day (TPD) to 360 TPD with simultaneous expansion in various other chlorinated derivatives at More

Toyota Kirloskar close to identifying site for 2nd facility
TOYOTA Kirloskar Motor Ltd has come closer to identifying a location for its proposed second manufacturing facility. Though the company officials did not give any indication, Karnataka Government sources indicated that the company has ... More

CRV Consultants plans to launch operations in Hong Kong
BANGALORE-based search firm CRV Consultants on Tuesday announced re-branding and expansion of its business. Now renamed Mind Group, the company will offer services in three areas: Mind Search for top-level search, Mind Select for selection ... More

ALLIANCES & JOINT VENTURES

Ranbaxy enters into in-licence pact with Lupin for TB drug — Drug to be marketed in West, North Africa
Ranbaxy will sell Lupin's TB brand, Akurit, complying with WHO norms in countries such as Nigeria, Ghana, Ivory Coast, Cameroon, Algeria, Chad, Mauritania, and Congo. New Delhi, Sept. 27 RANBAXY Laboratories has entered into an ... More

STANDARDS & BENCHMARKS

TNT gets IIP accreditation
TNT India has been accredited with the Investor in People (IIP) standards, an internationally recognised accreditation for companies' people practices. IIP has been developed by the UK Government in partnership with representatives of UK ... More

OUTLOOK

Jet Airways awaits nod for US flights
JET Airways will commence operations to the US as soon as it receives approval from the US Department of Transportation. The airline plans to fly to more international destinations in Europe, the US, Africa and the Far East as it expands its ... More

IOC optimistic of equity oil stake in Nigeria
INDIANOIL is hopeful of acquiring equity oil stake in Nigeria. The company had earlier asked for equity oil stake in the State of Edo on condition of further investment in a greenfield oil refinery in the oil-rich State. The Edo Government had ... More

Maruti plans to roll out new version of Baleno
MARUTI Udyog Ltd is set to roll out a new version of its mid-size sedan Baleno in the current week. The new Baleno will come with a few added features and modifications as well as a higher price tag. According to dealer sources, the Vxi (higher ... More

PEOPLE

Bachkaniwala is new chairman of TMMAI
MR R.S. Bachkaniwala, Director of Himson Textile Engineering Industries, Surat, has been elected as chairman of the Textile Machinery Manufacturers Association (India) for 2005-06. Mr Sridhar Varadaraj, Managing Director, Premier Evolvics Pvt ... More

Dr Reddy's founding MD dead
HYDERABAD: M.P. Chary, 59, Chairman of the Hyderabad-based Chary group of companies, passed away in the early hours of Monday. Chary was the founder Managing Director of Dr Reddy's Laboratories Ltd, where he served for 10 years and ... More

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