CORPORATE
RESEARCH & DEVELOPMENT
Hyundai investing $40 m in R&D centre
Hyundai Motor India has commissioned its R&D centre in Hyderabad and plans to invest up to $40 million in the facility whose mandate is to engineer and design `future cars.' The Managing Director of Hyundai Motor India, Mr Heung Soo Lheem, ...
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ANNOUNCEMENTS
Tata Motors launching Indigo base model
Tata Motors is set to launch a base variant of the limousine Indigo XL model, the Indigo XL Economy. It is most likely to be Rs 1 lakh cheaper than the existing top of the line XL model, said industry sources. The Indigo XL is currently ...
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PRIVATE PLACEMENT
IOC may get $200-m loan from US private placement market
IOC may firm up $200 million (approximately Rs 860 crore) 10-year foreign currency loan from the US private placement market by May. This is the company's maiden entry in the US market. The initiative is aimed at broad-basing the company's ...
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MERGERS & ACQUISITIONS
`Jury still out on price Jet paid for Sahara'
Jet Airways has paid Rs 400 crore to Air Sahara's promoters and closed a deal that took off only days back, after much taxiing around for almost a year. The skies should see Jetlite soon, but the air is laden with some weighty questions about the ...
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ACC picks up stake in Orissa's Shiva Cement
ACC Ltd has picked up about 13 per cent equity stake in Orissa-based Shiva Cement Ltd. In a notice to the stock exchange, ACC said the company would be subscribing to 1.45 crore shares of Shiva Cement allocated to it on a preferential basis at ...
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NEW PROJECTS
M&M raising Rs 1,350 cr for expansion
Mahindra & Mahindra (M&M) proposes to raise up to Rs 1,350 crore to finance capacity expansion and development of new products. The fund will be raised though overseas issues and qualified institutional placements (QIPs). The board of ...
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Ambuja Realty investing Rs 2,900 cr
Projects planned in Punjab, Maharashtra, Chhattisgarh
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Centre assures Orissa all help in Posco project
The Prime Minister, Dr Manmohan Singh, assured the Orissa Chief Minister that the Centre would provide all possible assistance to the Orissa Government in helping Korean steel maker Posco acquire land for its proposed $12 billion greenfield steel ...
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Promed Exports planning Rs 60-cr facility
Pharma company Promed Exports will be setting up a new manufacturing facility at an investment of Rs 60 crore in Nalagra, Himachal Pradesh. The company expects to fulfil its export ambitions for the US and European markets from this new ...
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OVERSEAS INVESTMENTS
Ranbaxy to invest $20 m in Terapia
Ranbaxy will be investing $20 million (Rs 83 crore) in its Romanian facility, Terapia in the next two years. The Gurgaon-based pharma company, which acquired the facility last year for about $324 million, has since made it its strategic hub ...
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ALLIANCES & JOINT VENTURES
WNS Global, CIMA sign pact
WNS Global Services has partnered with the Chartered Institute of Management Accountants (CIMA) for finance and accounting training accreditation. Through this corporate partnership, WNS would establish a framework for the development of a CIMA ...
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OUTLOOK
Prize Petroleum looking for strategic investor
HPCL's holding in the company may remain at 50%
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Tata Steel: Awaiting clues from Corus numbers?
Anglo-Dutch co yet to announce Dec quarter, annual results
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No headway in NRL capacity expansion, IPO plans
Numaligarh Refinery Ltd's (NRL) plan to expand capacities has been hit due to the little headway made in availing of additional crude supplies. The plan to expand the company's retail operations have also come a cropper due to heavy ...
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Hyundai aims at 20% market share
Rolls out new Verna versions; priced at Rs 7.96 lakh and Rs 8.18 lakh
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PERFORMANCE
Rail Wheel Factory output exceeds target
The Rail Wheel Factory (RWF) here achieved a record production during the year with the output exceeding the installed capacity of 1,15,000 wheels. It produced 1,26,126 wheels during the year. The target for the wheel sets, which consists of ...
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PEOPLE
Singhvi: `I enjoyed good relationship with Holcim'
His 21-year association with Ambuja Cement ends
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Exide Ind recasts board
The Rs 2,385-crore Exide Industries has announced a major recast in its board of directors. Mr S.B. Ganguly (64), who was leading Exide - formerly known as Chloride India - as Chairman and CEO ever since the Rahejas took over the company in ...
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New BSES Rajdhani Chairman
Mr Lalit Jalan has been appointed the new Chairman of BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd and also nominated as a Director on the board of BRPL. The announcement was made here after the board of directors of ...
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