CORPORATE
ANNOUNCEMENTS
Surana Ind finalises contracts
Surana Industries Ltd has finalised a Rs 58-crore contract for boilers, electrostatic precipitators and turbines for its 35-MW captive power plant, part of the upcoming integrated steel plant, in Raichur, Karnataka. According ...
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Phoenix Yule commissions facility
Phoenix Yule has commissioned a 15-metre-long steel cord belt press line at its Kalyani factory at an investment of Rs 28 crore. The project has been successfully completed within a period of eight months, according to a press ...
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NEW BUSINESS
Draping homes
GHCL's US-based subsidiary, Dan River, has signed a $100-million (nearly Rs 410 crore) order to supply home textile products to Starwood Hotels & Resorts. SEBI had recently barred certain group entities from trading in GHCL's ...
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Tunnel for Mumbai
Patel Engineering has secured an order worth Rs 157-crore order from Brihanmumbai Municipal Corporation for the construction of a tunnel in the city. The project will be executed in a JV with Pratibha Industries. ...
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ESOPS
Can employers recover FBT paid on benefits other than ESOPs?
FBT saw a fresh twist a few days ago - that the employers can recover from their employees fringe benefit tax on ESOPs (employee stock options). A few voices are quick to point out that the legislative approval for FBT recovery on ESOPs ...
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COURTS/LEGAL ISSUES
Dr Reddy's reviewing ruling
Dr Reddy's Laboratories has said that the company at this time was reviewing the decision of the US District Judge in detail and will continue to explore various options related to the effect. The company is aware of the decision of the federal ...
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HUMAN RESOURCES
ILO: Rigid quota norms may discourage enterprises
Establishing formal HR management practices
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MERGERS & ACQUISITIONS
India Cements shareholders' meet to decide on merger
India Cements Ltd (ICL) has called for a meeting of the shareholders of the company on June 11 to decide on the scheme of amalgamation of Visaka Cement Industry Ltd with ICL. This follows an order issued by the Madras High Court. In a ...
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NEW PROJECTS
IOC board to take up Ennore project proposal
The Ennore LPG import terminal project of Indian Oil Corporation is set to become a reality soon. "The project will be taken up at the coming board meeting," IOC's Chairman and Managing Director, Mr Sarthak Behuria, told Business Line ...
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OVERSEAS INVESTMENTS
Global forays: `IOC more excited about upstream sector'
Company examining opportunities to farm into production blocks
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OUTLOOK
Ford's small car plans `await Govt definition'
`Auto industry cannot afford to keep its plans in abeyance for long'
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Electrotherm unit to drive battery-run autos, buses
Plans to launch hybrid-fuelled large buses soon
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