The Hindu Business Line : Tuesday, October 25, 2005

BPCL plans to set up 100 `In & Out' stores
TO build customer loyalty , Bharat Petroleum Corporation Ltd (BPCL) has sewn up a series of initiatives, including the rollout of about 100 `In & Out' stores in petrol bunks by March 2006. The Director of Marketing, Mr S. Radhakrishnan, told .. More

ONGC to train drilling pros from Oman co — Bags Rs 1-crore order
ONGC is making steady progress in converting its Research and Development and training facilities into profit centres. The company has bagged a Rs 1-crore contract from MB Petroleum Services LLC, Oman (MBPS), for offering well-control training to ... More

Garment exporter Celebrity plans IPO
THE Rs 160-crore Chennai-based Celebrity Fashions Ltd, garment exporter to some of the world's top brands and parent company of the menswear brand, Indian Terrain, plans an IPO to finance the setting up of new factories as well as for expansion ... More

Avesthagen to invest Rs 45 crore more
BIOTECHNOLOGY company Avestha Gengraine Technologies has turned profitable and is making fresh investments of nearly Rs 45 crore to set up a new R&D facility and a nutraceuticals manufacturing unit in Bangalore, its Founder and CEO, Dr Villoo ... More

Jessop gets orders for 809 wagons — Supply gap in bogie, couplers
JESSOP & Co is now suffering from a problem of plenty. It has received an order for a record 809 wagons this year up from 305 wagons last year. The coach division which received order for nine rakes (81 coaches) last year, is also expecting a ... More

Hind Motors cuts Lancer prices by Rs 90,000
HINDUSTAN Motors today cut the price of its mid-size offering `Lancer' by over Rs 90,000. The 2-litre diesel version of the car will cost Rs 7.79 lakh against the earlier price of Rs 8.72 lakh, the company said. On the other hand, the ... More

OVERSEAS BORROWINGS

Hikal raises $25 million
HIKAL Ltd has raised the equivalent of $25 million through a mix of foreign currency convertible bonds (FCCBs) and convertible preference shares (CPS), the company told the Bombay Stock Exchange (BSE). Rabobank International is the lead ... More

RESTRUCTURING

RIL shareholders approve demerger
THE shareholders of Reliance Industries Ltd (RIL) have voted in favour of its scheme of arrangement (demerger) between RIL, Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance ... More

Butterfly on turnaround path; debt revamp is new chant
THE Chennai-based Gandhimathi Appliances Ltd, owners of the `Butterfly' brand, has roped in Meghraj Financial Services for its debt-restructuring programme. Talking to Business Line, Mr Pankaj Wadhawan, Vice-President and Head, Debt ... More

MERGERS & ACQUISITIONS

BNP Paribas to buy 49.9 pc in Sundaram AMC for Rs 100 cr
Sundaram AMC has Rs 2,800 crore in `assets under management', about 60 per cent of which is in equity assets. More

Reliance Capital picks 14.81% stake in Kinetic Engineering
RELIANCE Capital Private Equity (RCPE), a division of Reliance Capital Ltd belonging to Anil Dhirubhai Ambani Enterprises (ADAE), is set to acquire a 14.81-per cent equity stake in 2-wheeler manufacturer Kinetic Engineering Ltd (KEL). The ... More

Farallon Capital buys 60 pc stake in Indiabulls Real Estate
INDIABULLS Financial Services Ltd has informed the BSE that FIM Ltd, a company incorporated in Mauritius and managed by the San Francisco-based Farallon Capital Management LLC, has bought 60 per cent equity in Indiabulls Real Estate Company ... More

NEW PROJECTS

LG plans new plant for optical storage devices
CONSUMER electronics manufacturer LG Electronics India is gearing up for the next round of action at its Ranjangaon, Maharashtra, manufacturing facility — this time with plans to set up a new plant to manufacture optical storage devices ... More

Ericsson to set up facilities in Chennai, Gurgaon — Rajasthan unit to make mobile base stations, switches
GLOBAL telecommunications major Ericsson will be setting up an R&D facility in Chennai as well as a Global Services Delivery Centre (GSDC) in Gurgaon as part of its expansion plan for the country that will run into "hundreds of millions of ... More

`India will become TCL's S. Asia hub'
TCL India Holdings Pvt Ltd, the 100-per cent subsidiary of the Chinese multinational TCL, plans to set up its South Asia manufacturing hub in India, according to Mr A. Gopala Krishna, Senior Vice-President, TCL India Holdings Pvt Ltd. He said ... More

Birla Power Solutions on expansion mode
BIRLA Power Solutions is planning an expansion overdrive to boost its export revenues as well as consolidate its position in the domestic market. The company is setting up three new units in Uttaranchal to diversify into newer product ... More

GMR Industries on expansion mode
The company proposes to raise nearly 60 per cent of the expansion cost of Rs 401 crore by way of debt and meet the balance Rs 151 crore through internal accruals and fresh equity. More

Holset Engg sets up office in Pune

Holset is targeting a global turnover of about $500 million for the current year and is forecasting a growth ranging between 10 per cent and 40 per cent. More

ALLIANCES & JOINT VENTURES

DSCL Energy, Agrinergy enter pact for emission reduction solutions
EYEING the high potential in carbon trading in the country, DSCL Energy Services Company Ltd (DSCL ES) and the UK-based Agrinergy Ltd have joined hands to offer end-to-end clean development mechanism (CDM) solutions to Indian companies. The ... More

Italy's Dell'Orto inks pact with Eco Auto Components
Dell'Orto is looking to make India its manufacturing hub for a few components starting with stationary engine carburettors. More

Lupin joins hands with GSK to market TB drugs in Philippines
LUPIN Ltd has inked an agreement with GlaxoSmithKline (GSK) Philippines for the promotion of two of Lupin's tuberculosis (TB) drugs. This will be the company's third international tie-up in the last one month for marketing TB drugs. ... More

ECL inks mining pact with UK co
EASTERN Coalfields Ltd (ECL), a subsidiary of Coal India Ltd (CIL), has entered into a contract mining agreement with Joy Mining of the UK for the production of high-grade non-coking coal by introducing `continuous miners' equipment. As per the ... More

DIVERSIFICATION

ONGC to set up wind power farms in Gujarat
OIL exploration and production major ONGC is now in the advanced stages of finalising the setting up of two wind farms of 50 MW in Gujarat by December. The project would cost close to Rs 400 crore. According to sources, the company has ... More

BONUS ANNOUNCEMENTS

Dabur Q2 net up 20.6%, announces 1:1 bonus
DABUR India Ltd (DIL) today said it has registered a 20.6 per cent growth in net profit at Rs 52 crore for the second quarter this fiscal. The company's board also approved a 150 per cent dividend and one bonus share per share held. The ... More

STANDARDS & BENCHMARKS

Testing for heavy metals in herbal medicine exports made mandatory
AFTER health regulators in the UK and Canada issued warnings on the presence of heavy metals in certain Ayurvedic and Unani products, the Health Ministry has made it mandatory for exporters of such medicines to test for heavy metals like ... More

OUTLOOK

Philips eyes over Rs 1,200 cr turnover — To focus on home entertainment
PHILIPS Electronics India Ltd expects sales of DVD to cross eight lakh units, while colour televisions (CTV) could cross seven lakh units, taking its turnover beyond Rs 1,200 crore. "We are adding one new segment every year and if it was DVDs ... More

PERFORMANCE

Tata Motors sales cross 1 million
TATA Motors today said that it has crossed the 1-million sales mark (including exports), since the first passenger car, the Tata Sierra, was rolled out in 1991. Earlier on October 2, the company had produced its millionth passenger car. Of ... More

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