CORPORATE
ANNOUNCEMENTS
Tata Sons forms new financial services arm
Tata Capital to operate in merchant banking, housing finance
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AWARDS & HONOURS
Export award for MRPL
Mangalore Refinery and Petrochemicals Ltd (MRPL) has received the award for `Best Exporter through NMPT (New Mangalore Port Trust)' at a function organised by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI) in
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COURTS/LEGAL ISSUES
Lupin resolves case on Cefdinir
Lupin Ltd has resolved certain litigation proceedings with Abbott Laboratories and Astellas Inc in the US over the antibiotic Cefdinir. "Lupin and Abbott Laboratories and Astellas Inc have mutually dismissed various claims against each other ...
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RESTRUCTURING
Indoco plans to merge pharma operations
Indoco's wholly owned subsidiary La Nova Chem (India) Pvt Ltd will merge with the company, after shareholders recently approved its composite merger and demerger scheme. Also, the pharmaceutical division of SPA Pharmaceuticals will be demerged ...
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MERGERS & ACQUISITIONS
DS Const buys Globeleq America's power assets
Infrastructure company D S Constructions Ltd on Tuesday announced that it has successfully acquired Globeleq America's power assets for $542 million through a 50:50 joint venture with Israel Corporation. Globeleq Ltd's America assets consists ...
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NEW PROJECTS
Singur unit must happen
On Monday, the CPI (M) patriarch, Mr Jyoti Basu — who took the initiative some time back to meet the Trinamul Congress leader, Ms Mamata Banerjee, at his residence to forge a peaceful solution to the ...
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Hyundai Heavy to set up plant in Pune
To invest Rs 260 cr, signs MoU with Maharashtra
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Sanmina-SCI plans Rs 225-cr campus near Chennai
Facility will manufacture products for medical, defence, aerospace sectors
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Visa Steel's Orissa plant to cost Rs 1,800 cr in phase I
The capital expenditure for the first phase of Visa Steel Ltd's integrated steel plant at Kalinganagar in Orissa has increased from Rs 1,400 crore to Rs 1,800 crore, following the proposed addition of a 0.5 million tonnes per annum (tpa) wire rod ...
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OVERSEAS INVESTMENTS
Surana Industries close to buying coal mine in Indonesia
Key raw material source for steel plant at Raichur
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REGULATORY BODIES & RULINGS
Aurobindo's ARV drug gets nod
Aurobindo Pharma Ltd has received marketing authorisation approval from Medicines Control Council (MCC) of South Africa for its Zidovudine oral solution in 50 mg/ 5ml. This was the eleventh approval and sixth in ARV class from ...
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ALLIANCES & JOINT VENTURES
NTPC eyeing joint venture with ABB
For its renewables foray, especially in the wind energy sector
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United Biotech in pact to sell Swedish amino acid tablets
United Biotech's speciality division has entered into an in-licensing agreement for Swedish firm Recip AB's dialysis sparing amino acid tablets. The five-year exclusive agreement gives the 10-year-old pharma company of the United Group of ...
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Continental ties up with Rico for brake plant
German automotive supplier Continental AG has entered into a 50:50 joint venture with Rico Auto Industries to set up a hydraulic brake systems plant in Gurgaon. A statement from the company on Tuesday said that the plant would be set up in two ...
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NTPC-TELK joint venture to be launched on June 23
The State Government will hold 51 per cent stake in the company, while NTPC will hold 44 per cent. `Mutually beneficial' tie-up to compete with MNCs
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US co Aptuit invests $100 m in Laurus Labs, forms new entity
Laurus promoters to get stake in Aptuit Inc
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DIVERSIFICATION
Media house redeveloping city office into mall?
Statesman plans to redevelop its city office into a mall.
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Srinivas Fine Arts diversifies into high-end packaging
Buoyancy in manufacturing and expanding range of items offer wide scope
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RIGHTS ISSUE
Jet board meet on June 26
The board of directors of Jet Airways will meet on June 26 to consider its proposed rights issue of $400 million. The funds are meant for its expansion plans. The airline plans to add 22 new aircraft by 2008, of which 10 will be ...
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OUTLOOK
Start third shift to meet demand, BHEL told
Power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) may increase its generation equipment manufacturing capacity by 50 per cent from by running the facility for an additional shift. BHEL currently manufactures equipment capable to ...
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Rajesh Exports may open jewellery retail chain worldwide
Rajesh Exports is keen to open its `Laabh' chain of jewellery retail stores worldwide. The company is looking to set up at least 50 stores in South East Asia, West Asia, Europe and the US next year, said Mr Rajesh Mehta, Chairman, Rajesh ...
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PERFORMANCE
Exide sales volume rise 25% in April-May
Uses surplus capacity to meet inverter batteries demand
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