CORPORATE
RESEARCH & DEVELOPMENT
Sony Ericsson setting up R&D unit in Chennai
`With this facility, co poised to consolidate its position in India'
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ANNOUNCEMENTS
HealthCare Global to launch 2 cancer drugs
In contract manufacturing deal with Ahmedabad firm
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BEML making stainless steel metro coaches for Mumbai, Kolkata
Costs about Rs 86 lakh each; existing coaches to be replaced in phases
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No intention to withdraw Ikon, says Ford
Ford India has no intention to withdraw Ikon from the market, the Ford India's Vice-President-Marketing, Sales and Service, Mr Scott McCormack, has told journalists. The comment comes in the wake of rumours that Ikon would be phased out, which ...
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Varun Shipping buys VLCC
Varun Shipping has acquired a Very Large Crude Carrier (VLCC), which is claimed to be India's largest LPG carrier. With this acquisition, Varun Shipping now owns nearly 80 per cent of the total LPG tonnage at present operating ...
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DIVIDEND ANNOUNCEMENT
Tantia Const net rises to Rs 13 cr
Tantia Constructions Ltd, for the year ended March 31, 2007, has posted a 126 per cent increase in profit after tax to Rs 13.1 crore, up from the Rs 5.8 crore in the previous fiscal. Total income for the period under review is placed at Rs ...
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NEW BUSINESS
L&T to build 2 ships for Dutch co BigLift
Larsen & Toubro Ltd (L&T) has bagged a contract for construction of two ships valued at over $94.95 million from BigLift Shipping BV of the Netherlands, a part of the Spliethoff Group. The vessels will be built at the existing shipyard that
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AWARDS & HONOURS
Mahindra Shaan wins global prize for innovative design in engg
Mahindra & Mahindra Farm Equipment Sector has won an AE50 award from ASABE, the Society for Engineering in Agricultural, Food, and Biological Systems. ASABE is an international, not-for-profit organisation of diverse members dedicated to ...
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IPR
`Efficacy' factor will be key to Glivec patent case
The Intellectual Property Appellate Board (IPAB), Chennai, will ascertain the `bio-availability' and, in turn, efficacy of `imatinib mesylate' - the chemical substance which is the active pharmaceutical ingredient in the drug developed by ...
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MERGERS & ACQUISITIONS
Cabinet allows Mittal to pick up 49% stake in Bhatinda refinery
Overall cap of 26% FDI in public sector refineries remains
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Danone stake sale talk boosts Britannia stock
French firm may exit from biscuit company
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PerkinElmer buys 100% in Indian arm
Acquires remaining 49% stake from Labindia
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Batliboi buys 70% stake in French co
Engineering company Batliboi Ltd announced acquisition of 70 per cent stake in France-based air engineering company AESA, SA for approximately Rs 9 crore in an all-cash deal. The balance 30 per cent stake will remain with AESA's key employees. ...
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NEW PROJECTS
Finolex Ind in deal with Tishman Speyer for land sale
Finolex Industries Ltd (FIL) is close to inking a pact with Tishman Speyer India Ventures, a company engaged in real estate development, for the sale of its land in Chinchwad, near Pune, which currently houses one of its PVC pipe manufacturing ...
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Land allotment for Jindal plant flayed
The decision of the Andhra Pradesh Cabinet, allotting 1,048 acres to the proposed Jindal alumina refinery project in the S.Kota mandal of Vizianagaram district, has been condemned by the CPI (M) as "utterly undemocratic". The Cabinet announced ...
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OVERSEAS INVESTMENTS
Essar Global completes Canada's Algoma buy
Essar Global on Thursday announced that it has completed the acquisition of Algoma Steel Inc through its wholly owned subsidiary Essar Steel Holdings Ltd. Essar has acquired the company at a valuation of Canadian $1.85 billion. Following this, ...
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NRB Bearings setting up plant in Thailand
To target ASEAN market; unit in Uttarakhand planned
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ALLIANCES & JOINT VENTURES
IHC in pact with Jalan to set up Gateway hotel
Indian Hotels Company has entered into a management contract with Jalan Intercontinental Hotels for a Gateway hotel in Kolkata. This new hotel will be a part of Taj Business Hotels portfolio. The Gateway hotel will be a 200-room mid-market ...
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Grindwell ties up with Singye
The city-based manufacturer of abrasives Grindwell Norton Ltd has formed a joint venture (JV) company christened Saint-Gobain Ceramic Materials Bhutan Pvt Ltd in partnership with the Singye Group of Bhutan. Grindwell will hold 70 ...
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SOCIETY & DEVELOPMENT
Tata Motors initiates health camp in Singur
Part of its community welfare programme
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Microsoft ad platform targets social network sites
Leveraging the boom in online social networking in Asia, Microsoft has introduced a `Sponsored Spaces' initiative across the region, including India. Sponsored Spaces is a new ad platform that allows advertisers to tap the social networking ...
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OUTLOOK
Fenesta capacity to be doubled
DCM Shriram Consolidated Ltd (DSCL) is mulling to double the capacity of its arm Fenesta Building Systems in Hyderabad from the current 50,000 Unplasticised PVC (UPVC) windows to over 100,000. "The present expansion is backed by a major growth ...
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Reliance Money claims `good' client base
Less than a quarter into business, Reliance Money Ltd has gotten close to industry leaders in terms of daily transactions and has built a satisfactory number of client base. The broking arm of the Anil Dhirubhai Ambani Group commenced business ...
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Apeejay Surrendra group plans string of hotels
Apeejay Surrendra Hotels, part of the Apeejay Surrendra group, proposes to set up a string of hotels and resorts in the country, the first of which may well be a Rs 300-crore, 300-room 5-star hotel in Hyderabad. The group which has interests in ...
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Schwing Stetter sees robust demand for ready mix concrete
Only 5% of total cement production is going through RMC in India
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GAIL to complete Dahej-Uran-Dabhol pipeline by June 30
Ratnagiri Gas Power Pvt Ltd (RGPPL) expects to run two gas-based units of 740 MW each in full capacity by August. The company has three units of 740 MW each. The company's Chairman, Mr Chandan Roy, told Business Line that GAIL had ...
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