The Hindu Business Line : Thursday, December 08, 2005

Rieter AG keen to set up facility for ring spinning machinery
THE Swiss multinational textile machinery major Rieter AG is keen to set up textile machinery production facility for short staple spinning in India. "We have approached the Government of India for necessary permission in this regard," said Mr ... More

Logan to share component vendors with Scorpio
MAHINDRA Renault's new car Logan, which is scheduled for launch in early 2007, will share component vendors with the Scorpio. According to the Managing Director of Mahindra Renault, Mr Rajesh Jejurikar, about 30 vendors, around 75 per cent, ... More

JCT project gets UN nod for carbon trading
TEXTILE major JCT's rice husk-based power project at its plant in Phagwara, Punjab, has been registered with the UN panel for clean development mechanism (CDM) projects. CDM projects are those that qualify to trade carbon credits. ... More

Salakorn India sets up factory to produce tube ice
ICE has been available only in blocks and cubes till now in the country, but Salakorn (India) has set up a factory in Chennai for Pen Foods, a tube ice manufacturer. The plant will start functioning from December 11. Salakorn India, ... More

OVERSEAS BORROWINGS

Lupin FCCB issue
MUMBAI: Lupin Ltd has announced that it has raised $100 million through an accelerated zero coupon foreign currency convertible bonds offering. The bonds have a tenure of five years and are convertible into equity shares at a premium of ... More

Sarovar Hotels raises Rs 38 cr from pvt equity funds for budget hotel
SAROVAR Hotels & Resorts today said it has raised Rs 38 crore from two global private equity funds to part finance its new budget hotel brand, Hometel. Bessemer Venture Partners Trust (an affiliate of Bessemer Venture Partners) and New Vernon ... More

OUTSOURCING

Fiat to increase sourcing
NEW DELHI: Italian carmaker Fiat plans into increase the level of component sourcing from India to $10 million in 2006 and expects the figure to increase further subsequently. "We have been sourcing components from India for some time ... More

COURTS/LEGAL ISSUES

NTPC to take legal steps to enforce contract with RIL
NTPC Ltd plans to take "legal and other steps" against Reliance Industries Ltd to enforce a natural gas supply contract, the Government told Parliament on Wednesday. In a written reply to a query in Rajya Sabha, the Power Minister, Mr P.M. ... More

RESTRUCTURING

Sartorius revamps India biz; to invest $4 m in new facility
LABORATORY and process tech provider Sartorius Group has integrated its biotech and mechatronics divisions in India. The group Chief Executive Officer of Sartorius, Mr Joachim Kreuzburg, told newspersons on Wednesday that the integration will ... More

MERGERS & ACQUISITIONS

Ruia expects Dunlop to touch Rs 1,000-cr turnover in 3 years
MR PAWAN Kumar Ruia, Chairman of the Kolkata-based Ruia group of companies, believes that it is possible for Dunlop to achieve a turnover of Rs 300 crore in the first year of restarting operations and Rs 1,000 crore in three years' time. ... More

GHCL buys 65 pc stake in Romanian co
GHCL Ltd has announced that it has acquired a majority stake in SC Bega Upsom, a soda ash manufacturing company in Romania for $19.5 million (Rs 90 crore). The all-cash deal, to take up 65 per cent equity in the Romanian company, was finalised ... More

OVL set to buy 45 pc stake in Nigerian oil field for $2 b
ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation, is awaiting a final confirmation from the Nigerian concessionary for entering into an agreement for acquiring stake in Akpo oil and gas fields in that country. An ... More

Kovilpatti Lakshmi Roller to take over Eltex Super Castings — Hopes engg division would turn `separate profit centre'
KOVILPATTI Lakshmi Roller Flour Mills Ltd (KLRF), based in Tirunelveli district, has decided to acquire a controlling stake in Eltex Super Castings Ltd, a listed group company that has remained shut for the last three years. KLRF, which ... More

Tyre dealers hail Ruia's takeover of Dunlop
ALL-India Tyre Dealers' Federation (AITDF) has hailed Ruia Group's `daring decision' to take over Dunlop India Ltd. AITDF believes that Dunlop's re-entry will infuse competition in the tyre industry, which is currently controlled by four or ... More

NEW PROJECTS

JK Paper plans Rs 400-cr expansion
JK PAPER Ltd is following an expansion path. The company is investing a gross amount of Rs 400 crore into its offline blade coating plant and in the production of multi-layered packaging board. While the offline blade coating plant would be ... More

TRADE & LABOUR UNIONS

Arrears issue: Great Eastern staff file writ petition
THE Great Eastern Hotel Staff and Workers Association has filed a writ petition in the Calcutta High Court alleging that their dues had not been cleared before the hotel was handed over to Mr Lalit Suri of Bharat Hotels Group on November 30, ... More

SOCIETY & DEVELOPMENT

Laser Soft bags awards for promoting rights of disabled
LASER Soft Infosystems Ltd has been presented with awards for its initiatives for the welfare of persons with disabilities. A press release by the Mangalore branch of the company said on Wednesday that the President, Mr A.P.J. Abdul Kalam, ... More

STANDARDS & BENCHMARKS

Ucal obtains TS certificate
CHENNAI: UCAL Fuel Systems Ltd, manufacturers of fuel injection parts for four-wheelers and carburettors for two-wheelers, has been awarded the TS Certificate. TS is a standard exclusively for automobile sector for design, development and ... More

SICK UNITS

Rubber dealers urge Dunlop to settle dues
THE Cochin Rubber Merchants' Association today called upon the new management of Dunlop India, the Kolkata-based Ruia Group, to settle financial liabilities of Dunlop to rubber dealers in Kerala. The liability of Dunlop to Rubber dealers in the ... More

OUTLOOK

How true the forecasts
Mohan R. Lavi on a study about earnings forecast and stock price More

Tata Steel may rethink plan to export iron ore through Haldia
IS TATA Steel having a second look at its earlier plan to export iron ore through the Haldia dock? At least the Haldia dock authorities think so. Not without reasons though. There has not been a single shipment so far in the current fiscal, ... More

Dunlop Ambattur workers pin hopes on early reopening
IT WAS an expectant but small group of workers that had gathered at Dunlop's plant at Ambattur, a western industrial suburb of Chennai. As the clocked ticked by, the workers patiently waited. It could be a momentous day for them, after all. The ... More

Suzuki all set to launch 125-cc bike in January
The company will focus strongly on second-rung cities and towns where there is a latent demand for independent, affordable means of transportation. More

`Tatas' small car could be hugely disruptive'
GIVEN the price point it seeks to match and the likely volumes at that level, the small car from Tata Motors proposed to sell for Rs 1 lakh could have a major impact on the manner in which cars are manufactured, a senior official of the global ... More

Maruti to raise prices in Jan
NEW DELHI: Maruti Udyog Ltd plans to raise prices of all its cars by up to Rs 15,000 in January, sources said. It is learnt that the company has informed its dealers of its intention to raise prices. Maruti had last raised prices in ... More

PERFORMANCE

ECL posts profit in Nov
KOLKATA: Eastern Coalfields Ltd (ECL), a loss-making subsidiary of Coal India Ltd (CIL), has turned around with a profit of about Rs 37 crore (provisional) in November 2005 against the loss of Rs 2.64 crore during the same month last year. ... More

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