CORPORATE
ANNOUNCEMENTS
Essar Oil starting production from Mehsana wells
Essar Oil will start producing 500 barrels a day from two wells at Mehsana in Gujarat beginning tomorrow. Production will reach 1,000 barrels a day in next three four months following drilling of two more development wells. The crude will be ...
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DIVIDEND ANNOUNCEMENT
AIA Engg PAT up 80%; to pay 35%
The Ahmedabad-based AIA Engineering Ltd, engaged in manufacturing high chrome mill internals, has declared a dividend of Rs 3.50 (35 per cent) per equity share of Rs 10 each, the company said in a release here on Friday. According to audited ...
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MERGERS & ACQUISITIONS
IFC picks 5.84% stake in Lanco arm
International Finance Corporation (IFC), a subsidiary of the World Bank, has signed an agreement to subscribe to 5.84 per cent equity stake amounting to $8 million in Lanco Amarkantak Power Pvt Ltd. LAPPL, a special purpose vehicle promoted by ...
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NEW PROJECTS
DLF Hotel Hilton to develop 3 new properties
DLF Hotel Hilton Ltd, a 74:26 joint venture between DLF group and Hilton International Co, plans to build three properties, two hotels - one in luxury category and the other a business hotel - and a service apartment unit in Kolkata. All ...
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APSFC clears 67 project proposals
The Andhra Pradesh State Finance Corporation (APSFC) has given on-the-spot approval for 67 projects, totally estimated at Rs 281.09 crore, submitted by entrepreneurs from the districts of Medak, Ranga Reddy and Nizamabad. The Chairman of APSFC, ...
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L&T chief, officials call on Karunanidhi
The Chairman and Managing Director of L&T, Mr A.M. Naik, today met the Tamil Nadu Chief Minister, Mr M. Karunanidhi, according to a statement from the Government. Mr Naik was accompanied by senior officials of L&T, Mr K.V. Rangasami, Mr K. .
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City Square launches new project
City Square Enterprises Pvt Ltd, a property development company, has announced the launch of NRI's Centre City, a gated community project near Chennai. To be formally launched on Sunday, NRI's Centre City is a 103-acre layout about 25 km west ...
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PSL gets in-principle nod for SEZ
The Mumbai-based infrastructure and construction company PSL Ltd has received an in-principle approval from the Union Government for establishing `Alternative Energy and Energy Ancillaries' special economic zone (SEZ) at Pipavav in Gujarat. The ...
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SPC Green plans $100-m investment in biopolymer unit
Co mulls locating manufacturing plant in Kakinada
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OVERSEAS INVESTMENTS
Amtek lines up $125 m for buying US component firms
Aims to boost forging, machining capacity
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ALLIANCES & JOINT VENTURES
REC inks pact with HUDCO
Rural Electrification Corporation (REC) has inked a pact with HUDCO for consortium financing in power-related projects. The REC Chairman and Managing Director, Mr A.K. Lakhina, and the HUDCO's Chairman and Managing Director, Dr ...
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VENTURE CAPITAL
Venture Capital Funds not favourably inclined towards biotech cos
`Some early stage Indian models are not exciting enough and many small companies are unable to think big or scale up.'
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OUTLOOK
Connectivity constraints bother Hyundai Motors
Dedicated corridor sought for transporting cars
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Denial of mines to VSP flayed
The denial of captive iron ore mines to Visakhapatnam Steel Plant (VSP) by the Union Government is placing a huge burden on the plant, as it means higher cost of production, and "the generosity shown by the Government to the private steel plants, ...
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Bio-Rad looks at 20% growth in India sales
Bio-Rad, a California-based clinical diagnostics and life science research products maker, is increasing its focus on the Indian market. "We expect to see 20 per cent growth from our Indian market," said Mr Francois Capit, General Manager ...
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PEOPLE
Malvinder Mohan is Fortis chief
Mr Malvinder Mohan Singh has been appointed Chairman of the Ranbaxy-promoted Fortis Healthcare. The company, headed by Mr Singh's younger brother, Mr Shivinder Mohan Singh, CEO, Fortis Healthcare, informed BSE that Mr Harpal ...
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