CORPORATE
ANNOUNCEMENTS
Future ATMs will do a lot more than just dispense cash
MULTI-TASKING SERVICES
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MRF unveils premium truck tyre
MRF Ltd today announced the launch of its premium truck tyre — Super Lug 50-FS. Priced at Rs 12,650 per unit, the tyre has a low rolling resistance that will result in fuel efficiency of the truck, claims the company. "The tyre would ...
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PREFERENTIAL ALLOTMENTS
`Govt must rescind order treating pref shares as debt'
The Finance Ministry recently issued a press note specifying that redeemable preference shares issued to foreign investors on or after May 1, 2007 would be regarded as external commercial borrowing (ECB), with the exception of those that are ...
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DIVIDEND ANNOUNCEMENT
Chennai Petro net up 18%; to pay 120% dividend
Rs 6,000-cr investments lined up
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NEW BUSINESS
Era bags Rs 190-cr NTPC contract
Real estate company Era Constructions has bagged a contract from National Thermal Power Corporation for the Dadri project for construction of civil works for additional generation of 980 MW thermal power for supply to Delhi and ...
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ESOPS
ESOPs — no more a benefit at the fringe
The changes proposed by the Finance Minister on determining fair market value of shares do not spell a fair deal for employees.
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COURTS/LEGAL ISSUES
Haldia Petrochemicals' case
Mr Justice Jayanta Kumar Biswas of the Calcutta High Court today reserved judgement in the appeal filed by the West Bengal Government and West Bengal Industrial Development Corporation (WBIDC) challenging the order of the Company ...
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Nimbus plea on cricket series rejected
The Delhi High Court on Friday refused to grant Nimbus' request to restrain TataSky and Dish TV from broadcasting live the ongoing India- Bangladesh cricket series. The High Court is believed to have refused to grant a stay to the two ...
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MERGERS & ACQUISITIONS
Kamla Dials buys production plant in Switzerland
"Objective is to cater to the high-end market here"
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Lambda Therapeutics buys Polish drug co
Lambda Therapeutics Research Ltd today announced acquisition of a Polish clinical research organisation. "We have acquired 76 per cent stake in CBK-MPR Pharma of Warsaw for 4-5 million euros," Mr Ashish K. Dasgupta, Director, told Business ...
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Novelis nod for Hindalco buy
Hindalco Industries Ltd, on Friday said that its acquisition of the US company Novelis has been okayed by a majority of stakeholders in the American company. In an official statement, Hincdalco said 99.8 per cent of the ...
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NEW PROJECTS
Shree Cement adding 3 mt capacity
Eyeing pan-India market presence in near future
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Klockner Pentaplast plans unit in Aurangabad
$20-m plant may come up in March-April 2008
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Bhushan Steel setting up plant in Bengal
Total investments pegged at Rs 8,800 cr
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Vizag Steel signs pact with L&T consortium
Third blast furnace will hike capacity to 6.2 mt
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OVERSEAS INVESTMENTS
Strides opens steriles unit in Brazil
Strides Arcolab announced that its group company, the Brazil-based Cellofarm Ltda, had inaugurated its sterile injectable facility for penems and penicillins at Compos in Rio de Janeiro. The facility built at $30 million will ...
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ALLIANCES & JOINT VENTURES
Hilton, DLF to develop 10 hotels
The US-based Hilton Hotels Corporation has announced that it would develop 10 hotel projects in the country in partnership with DLF Ltd. The projects would be set up at Delhi, Bangalore, Hyderabad, Mysore, Kolkata, Bhubaneswar ...
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DIVERSIFICATION
Volvo entering logistical services
Volvo Truck Corporation has decided to diversify its Indian operations and foray into freight forwarding, goods transport, warehousing, commission agency and allied services. The $36-billion Swedish commercial vehicle giant's business in India ...
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OUTLOOK
Hind Motors confident of meeting target
The management of Hindustan Motors (HM) expects that the company would be able to meet its production target of Ambassador cars for the current year despite work at the company's Uttarpara factory being suspended for a month. The company produces ...
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Keltron making big plans
One-time settlement reached with banks
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