CORPORATE
ANNOUNCEMENTS
Hindustan Motors to withdraw DA freeze
The management of Hindustan Motors (HM) has agreed to withdraw the dearness allowance (DA) freeze, according to trade union sources. The management has agreed to pay 300 points DA (or Rs 600 as one DA point is equal to Rs 2) this month and will ...
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SAIL cuts product prices
Steel Authority of India Ltd on Tuesday reduced prices across its product offering. Price reduction is by Rs 300 per tonne in case of GPGC (galvanised sheets), cold rolled sheets and cold rolled coils. Piron prices have been ...
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IOC refineries save Rs 39 crore
The energy optimisation and hydrocarbon loss minimising systems implemented at Indian Oil Corporation Ltd (IOC) refineries have resulted in fuel savings of about 24,000 million tonnes per annum valued at approximately Rs 39 crore ...
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OVERSEAS BORROWINGS
Ashok Leyland to borrow $250 m from overseas market
Ashok Leyland will raise $250 million (Rs 1,100 crore) through the ECB-route. "We will hit the market within a week," the company's Executive Director-Finance, Mr K. Sridharan, told Business Line on Tuesday. The money would be used to ...
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Moser Baer issues $150 m FCCBs
Moser Baer India Ltd today announced it has priced foreign currency convertible bonds (FCCBs) of principal amount of $150 million, with tenure of five years. "The issue was sold last night and received a good response and was ...
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TV 18 Group co raises £55 m
Elara Capital Plc, the UK-based mid-market cross border investment bank, announced on Tuesday the closure of its first fund raise and listing in the Alternative Investment Market (AIM) of London Stock Exchange. The Indian advisor ...
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DIVIDEND ANNOUNCEMENT
Rain Commodities declares 35% dividend
Rain Commodities Ltd (RCL) has informed BSE that the board of directors of the company at its meeting held on June 5 has recommended a dividend at 35 per cent on the paid-up equity share capital of the company i.e., Rs 3.50 per equity share for ...
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INSIGHT
Organisational performance
Recent approaches to organisational change and transformation are mainly concerned with improving the performance of an organisation. Any attempt to change an organisation must be concerned with strategy and capability. There are three core ...
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MERGERS & ACQUISITIONS
Hindalco: Collective voting power a significant strength
Stock calms down as talk of hostile takeover bid subsides
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Alcan buys 76% stake in Alukbond India
Plans to sell its 45% stake in Utkal Alumina International
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Amtek Auto buys UK co
Auto component maker, Amtek Auto Ltd, part of $650-million Amtek Group, on Tuesday announced that it had acquired assets of UK based JL French's (Witham) Ltd (JLF) to gain access to aluminium foundries for its component manufacturing business. ...
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Kingfisher to rationalise Air Deccan fleet: Mallya
Kingfisher Airline, which recently acquired a stake in Air Deccan, will soon begin rationalising the fleet of aircraft operated by the two airlines, the airline Chairman and Managing Director, Mr Vijay Mallya, has said. Order ...
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ISMT buys Swedish co
Precision seamless tubes maker ISMT Ltd has acquired 100 per cent stake in Swedish company Structo Hydraulics AB, a manufacturer of tubular components for the hydraulic cylinder industry. Located at Storfors, Structo makes downstream products ...
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NEW PROJECTS
GMR group plans thermal plant in Chhattisgarh
Enters pact with State; identifying suitable location
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Statesmanship of a high order
I confess I was thrilled no end at the news of the meeting of the veteran CPI(M) leader of world stature, Mr Jyoti Basu, with the Trinamool Congress Chief, Ms Mamata Banerjee, at Kolkata to sort out the ...
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OVERSEAS INVESTMENTS
Praj Ind entering Brazil to tap global ethanol demand
Praj Industries Ltd is setting up a full-fledged marketing office in Brazil by July to tap the growing global demand for fuel ethanol that is expected to cross 90 billion litres by 2010 from the current 59 billion litres. Subsequent expansion ...
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REGULATORY BODIES & RULINGS
Aurobindo drug gets USFDA nod
Aurobindo Pharma Ltd (APL) has announced that the US Food and Drug Administration (US FDA) has approved one more of its cephalosporins. This time it is from its third-generation range, Cefpodoxime proxetil for oral suspension in ...
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ALLIANCES & JOINT VENTURES
Suryajyoti pact with Italian co
Suryajyoti Spinning Mills, a Hyderabad-based manufacturer of yarns, has joined hands with Pangea SRL of Italy to form a special purpose vehicle to set up a speciality bottom weight fabric weaving, dyeing and finishing plant. The ...
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DIVERSIFICATION
Deccan Aviation promoter plans a host of hospitality projects
Buying land near Rishikesh to set up an Ayurvedic resort
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OUTLOOK
Commercial vehicle sales may slow down
Tata Motors, Leyland cut back on tyre orders
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DLF investing Rs 4,200 crore in Bangalore
Real estate company DLF Ltd plans to invest about Rs 4,200 crore in two residential projects and one large retail mall in Bangalore, said Mr A.S. Minocha, Chairman, here on Tuesday. The retail mall would be developed on a 15-acre property in ...
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McLeod Russel plans foray into domestic packet tea biz
To firm up plans within the next few months
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PERFORMANCE
MRPL's despatches up in May
Mangalore Refinery and Petrochemicals Ltd (MRPL) despatched 1.128 million tonnes of petroleum products in May as against 1.038 million tonnes in the corresponding period of the previous year, recording a growth of 8.7 per cent. ...
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PEOPLE
Cairn India gets new biz head
Cairn India has appointed Mr Ajay Gupta as Head - Commercial and New Business Development. According to a statement issued by the company, "in his most recent role with JM Morgan Stanley Pvt Ltd, Mr Gupta was Associate Director - Corporate ...
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