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CORPORATE
ACCIDENTS
Major fire at Cadila Pharma
A major fire broke out at the Bharuch plant of pharma major Cadila Pharmaceuticals Ltd this afternoon, causing a possible loss running into crores of rupees. There were no casualties, however, as the incident occurred at a time when no one was ...
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NEW BUSINESS
L&T bags contract worth $250 m
Larsen and Toubro has bagged a contract worth around $250 million from Maersk Oil Qatar for development work at the latter's oil field `Block 5'. The contract is for a project that involves construction of two new offshore ...
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RESTRUCTURING
Tata Tea to divest stake in northern operations
New entity to take over from April 1; focus on agri-products
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MERGERS & ACQUISITIONS
MTL may be merged with Falcon with retrospective effect
The Ruias are considering merger of Monotona Tyres Pvt Ltd (MTL), an acquired company, with Falcon Tyres with effect from April 1, 2006. This would help the merged entity post a turnover of close to Rs 500 crore for 2006-07. According to ...
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Vectra to buy out remaining 8% in Tatra
Vectra Group is set to buy out the remaining 8 per cent in commercial vehicle manufacturer Tatra. The group holds 92 per cent in the Czech company after a recent 80.5 per cent acquisition from the US-based Terex Corporation; Vectra was earlier ...
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NEW PROJECTS
Suprajit to set up cable unit in Singur
Suprajit Engineering Ltd, which has won a contract for the supply of automotive cables for the proposed low-cost car of Tata group, plans to set up a manufacturing facility in Singur, West Bengal. The unit, which will have an initial investment ...
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Ceat plans to set up truck radial facility
Also proposes to modernise, expand its existing capacities
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OVERSEAS INVESTMENTS
Indian power cos flock to Africa, Middle East
Both the regions could be spending about $ 20 billion in next four years on power transmission and distribution infrastructure
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REGULATORY BODIES & RULINGS
DGH disallows ONGC's gas discovery in KG basin
Company to contest regulator's views, seeks third-party audit
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ALLIANCES & JOINT VENTURES
Chetra Industrial plans joint ventures in India
Chetra Industrial Machineries Company, an exclusive trading arm and service provider for some large Russian machinery manufacturers, plans to establish manufacturing facilities in India in joint ventures. The Vice Managing Director of Chetra, ...
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Chevron chief visiting India
A possible expansion in ties between the US-based oil major Chevron Corp and Reliance Industries Ltd (RIL) in the country's upstream and downstream energy could be on the cards, when the Chevron Chairman and Chief Executive, Mr David J. O'Reilly, ...
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EVENTS
`Punish cos for Clause 49 non-compliance'
Companies that have not yet complied with the Clause 49 of SEBI's corporate governance regulations should be fined, said Mr Deepak Parekh, Chairman of Housing Development Finance Corporation. Mr Parekh, who is also the Chairman of SEBI's ...
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STANDARDS & BENCHMARKS
MHRA clears Strides plant
Strides Arcolab has said its Bangalore plant for sterile products has received the approval of the UK MHRA (Medicines and Healthcare products Regulatory Agency). The plant makes sterile non-penicillin and non-cephalosporins. Mr Arun Kumar, ...
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SICK UNITS
Public sector units revamp board may come under PMO
The Board for Reconstruction of Public Sector Enterprises (BRPSE) set up by the Government in 2004 under the Ministry of Heavy Industries and Public Enterprises may be brought directly under the Prime Minister's Office (PMO). Though there has ...
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OUTLOOK
Hatsun Agro targets 4,000 `pure' dairy farms
To reduce cost of milk production
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Small car: Ford to leverage emerging markets resources
Ford is likely to leverage the resources of its plants in emerging markets to put together a small car for India and other countries. But Ford India is still guarded on making a public announcement of its move to produce a small car for the ...
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