The Hindu Business Line : Saturday, February 25, 2006

JSW Steel hikes price
JSW Steel Ltd announced a hike in price of galvanized steel on Friday. Prices of galvanized steel products have been hiked by Rs 1,500-2,000 per tonne from March 1, 2006. In addition JSW will also revise the thickness ladder of ... More

Glenmark trials on diabetes drug
A prospective diabetes drug from Glenmark Pharmaceuticals Ltd has completed its first phase of trials on human beings. The drug molecule has entered the second phase of targeted human trials that will commence in South Africa. Glenmark's ... More

Dutch firm refutes vaccine charges
Defensive stand
Intervet said 30 per cent of its business in India comes from the sale of poultry vaccines which will now be hit More

CORPORATE DISPUTES

Ministry yet to settle GAIL, ONGC row
The Petroleum Ministry has said that it is yet to take a decision on allowing GAIL (India) Ltd to continue selling 6 million standard cubic metrrs per day (MMSCMD) of gas from the Panna-Mukta-Tapti (PMT) fields. The PMT partners - Oil and ... More

Birlas want probe by Telecom Dept
Story so far
Feb 8- Birla alleges Tata violating licence norms with stake in both Idea and Tata Tele. Urges DoT to get Tata exit Idea
Feb 16- Tatas say share in Idea legal. Terms Birla's allegations misleading
Feb 22- Birla sho ots off second letter questioning Tata holding in Idea through
Mauritius based company. Tatas says DoT should be concerned with direct holdings onlyFeb 24- DoT says it will intervene in the dispute after looking through the details
More

OVERSEAS BORROWINGS

Madhucon Projects allots GDRs
Madhucon Projects Ltd (MPL) has informed the stock exchanges that its board of directors at its meeting held on Tuesday has approved and allotted 97,65,670 GDRs (Global Depository Receipts) representing 97,65,670 equity shares of ... More

Electrosteel Castings FCCB issue likely in April
The issue of foreign currency convertible bonds (FCCBs) by Electrosteel Castings Ltd (ECL) is expected sometime in April this year. The issue is aimed at raising $75 million (approximately Rs 332 crore) to fund its expansion plans. Speaking to ... More

COURTS/LEGAL ISSUES

ONGC told not to award deal
Mr Justice G.C. Gupta of the Calcutta High Court has barred ONGC from awarding contracts for integrated exploration and development of coal bed methane (CBM) at Jharia, Bokaro and Parbatpur blocks in Jharkhand during the next four weeks. The ... More

ACCOUNTANCY

Kerala: Audit by CAs in co-op banks, societies urged
Mr Babu Abraham Kallivayalil, the new secretary of the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India ICAI), has urged the Government to introduce audit by chartered accountants in cooperative banks, ... More

RESTRUCTURING

Amtek Auto to bring 2 group cos under fold
The Amtek group, an auto components manufacturer, is rapidly going forward with its consolidation strategy under which it plans to bring in all group companies under Amtek Auto. Amtek Auto is set to acquire 100 per cent stake in group company, ... More

MERGERS & ACQUISITIONS

Videocon to bid for Daewoo Elect
Videocon Industries Ltd will be bidding for the South Korea-based Daewoo Electronics, the company's chairman, Mr Venugopal Dhoot, said. "Daewoo Electronics is a big company and is for sale. The merchant bankers have approached ... More

Rain Calcining floats SPV for routing overseas investments
The game plan
The American company RCL seems to be eyeing is Great Lakes Corbon.
The markets agog with rumours that a line of credit of around $150 million from ICICI and IDBI has been obtained.
Wholly-owned s ubsidiary floated in Virgin Islands.
More

NEW PROJECTS

Stone for footwear plant to be laid today
The foundation stone for the Rs 500-crore footwear manufacturing plant of Apache Investment Holdings, a supplier to Adidas, will be laid on Saturday at Mambattu village in Nellore district of Andhra Pradesh. The Chief Minister, Dr Y.S. ... More

Gateway Distriparks to invest Rs 200 cr for new facilities
Having received an in-principle approval from the Indian Railways to move container trains, Gateway Distriparks Ltd (GDL) is gearing up to invest Rs 200 crore initially to set up the required facilities. GDL is the sixth private company to get ... More

US co opens innovation Chennai centre
Athenahealth, a US-based company that provides online revenue cycle management services for medical practices, has opened a corporate innovation centre in Chennai to enhance business process outsourcing capabilities through developing related ... More

PSL commissions Vizag plant
PSL Ltd, pipe coating and pipe manufacturing company, announced the commissioning of its second Pipe Mill at Vizag. This mill will enable PSL Ltd to raise its pipe making capacity of its Vizag Plant to 150,000 tonnes per annum from 75,000 ... More

Areva T&D to invest euro 50 m in power sector
French energy major Areva T&D plans to invest around 50 million in the country's transmission and distribution sector over the next three years. The company is also looking at ramping up exports from the country. "India, along with ... More

POSCO India MD appointed to board
Even as its proposed 12-million-tonne-per-annum capacity steel mill is facing stiff opposition from the people in Orissa's Jagatsinghpur district, Korean steel maker POSCO on Friday said the project was a significant part of its strategy to ... More

REGULATORY BODIES & RULINGS

USFDA nod for Aurobindo's Lisinopril
Aurobindo Pharma Ltd has announced that the US Food Drug Administration (USFDA) has approved its Lisinopril tablets 2.5, 5, 10, 20, 30 and 40 mg. In a press release here on Friday, Aurobindo said Lisinopril is an angiotensin ... More

EVENTS

AIMA interactive meet
The Centre for Management Services (CMS), a division of All-India Management Association (AIMA), held one of its interactive meets here on Friday. A large number of directors and department heads of management and professional ... More

OUTLOOK

ITC unit to apply for carbon credits
ITC's Bhadrachalam Paper Division alone is expected to put up four CDM projects covering social forestry, energy conservation, low-heat recovery process, and a free flowing film evaporator plant. More

Water, oil to drive Krohne Marshall growth
Water and oil are two sectors from which the flow-meter manufacturer, Krohne Marshall, expects to see most growth, according to Krohne Marshall's Chairman, Mr Farhad Forbes. Public sector water utilities are increasingly keen on water savings ... More

Jessop on expansion drive
Cheered by the Railway Budget presented today , the private sector coach and wagon manufacturing major Jessop & Co is embarking upon a capacity expansion drive in both the coach and wagon divisions. "We are definitely happy but .. More

NEW PRODUCTS & SERVICES

Hetero unveils bird flu drug
Hetero Drugs Ltd (HDL), the Hyderabad-based Rs 1,000-crore pharma company with leadership in anti-retrovirals, has unveiled what it called the country's first indigenously produced bird flu drug, Oseltamivir, in 75mg capsules. Hetero is ... More

New Mercedes models unveiled
DaimlerChrysler to roll out Actros trucks, luxury buses
DaimlerChrysler on Friday said it would launch its premium range of Actros trucks in India in the first half of this year, while also looking to introduce luxury buses at a later stage. ``The Actros range is likely to hit the markets within ... More