CORPORATE
ANNOUNCEMENTS
Shasun facility gets US FDA nod
Shasun Chemicals & Drugs Ltd, manufacturer of finished dosage forms, API (active pharmaceutical ingredients) and intermediates for global pharma companies, has announced that the US Food and Drug Administration (FDA) has approved the ...
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Indraprastha Gas to approach petroleum regulator soon
Gas distribution project issues
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AWARDS & HONOURS
Gujarat Alkalies bags ICWAI award
Ahmedabad, July 6 The State-owned Gujarat Alkalies and Chemicals Ltd (GACL) has bagged the National Award for Excellence In Cost Management-2006, instituted by the Institute of Cost and Works Accountants of India (ICWAI). Mr Guruprasad ...
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Award for NMDC
NMDC Ltd has received the National Award for Excellence in Cost Management for the year 2006. It was ranked ‘First’ in the Category of Public Sector —Manufacturing Organisations for its cost management practices. The award is ...
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COURTS/LEGAL ISSUES
Order of dismissal, if passed retrospectively, can’t be held invalid: HC
Chennai, July 6An order of dismissal, if passed retrospectively, could not be held invalid, since it was open to the employer to order dismissal of employee either from date of suspension so as to deny wages for the interrugnum period or ...
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CREDIT RATING
Moody’s marks down Tata Steel
Mumbai, July 6 Moody’s Investors Service has downgraded the corporate family rating of Tata Steel Ltd to Ba1 (speculative grade) from Baa2 (investment grade). The rating reflects Tata Steel’s weakened balance sheet liquidity ...
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RESTRUCTURING
Taneja Aerospace on revamp mode
Mumbai, July 6 Taneja Aerospace & Aviation Ltd, with its business in general aviation, airfield services, consultancy and manufacturing of aero-structures, informed the BSE that the board of directors of the company is restructuring its ...
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MERGERS & ACQUISITIONS
Wipro buys Unza for $246 m
FMCG co acquired in all-cash deal
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NEW PROJECTS
Italian co MeTecno sets up unit in Chennai unit
Chennai, July 6 MeTecno Group, an Italy-based company manufacturing insulated sandwich panels for the building and construction industry, has set up a manufacturing unit in Chennai. The company has earmarked about $12 million (about ...
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DIVERSIFICATION
Subburaj Ind diversifying into paper manufacturing
Subburaj Industries Ltd, a Tirunelveli-based exporter of yarns, is diversifying into paper manufacture with a Rs 200-crore greenfield project.According to company officials, Subburaj Industries has promoted Subburaj Papers Pvt Ltd for ...
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SICK UNITS
Trayons revival still in limbo
Kochi, July 6 Even as the lay-off of the sick Travancore Rayons Ltd (TRL) is to enter the seventh year on July 17, so far nothing as announced earlier has emanated from the Government about signing of an agreement with the promoters despite ...
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OUTLOOK
ONGC set to get third project registered under CDM
New Delhi, July 6 Oil and Natural Gas Corporation (ONGC), which is targeting to achieve emission reduction of about 8,00,000 tonnes of carbon dioxide, is set to get another project registered under the Kyoto’s Clean Development Mechanism ...
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TVS Motor plans launch of 100cc-plus scooter next fiscal
Bangalore, July 6 TVS Motor has firmed up plans for launching a 100cc plus four-stroke scooter during the next fiscal.“This is a busy year for us. We will launch the scooter during the next fiscal,” the TVS Motor Company ...
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MRPL will export fuel to Mauritius from August
Three-year contract valued at $2 b signed
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Nestle may develop products based on ‘bhal’, isabgol
Likely projects Gujarat is likely to sign a MoU with the International Road Federation.Unctad has offered to assist in tourism promotion through its e-tourism initiative.
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Coal India awaits Navaratna status for IPO
Coal India Ltd (CIL), which was expected to hit the market with its initial public offer soon, would now wait till it is granted the Navaratna status by the Department of Public Enterprises (DPE). The formal request for this from the Coal ...
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PERFORMANCE
RINL posts Rs 2,026-cr turnover
Strategic marketing decisions and better customer relations have enabled Rashtriya Ispat Nigam Ltd (RINL) here to achieve the best ever first quarter sales turnover of Rs 2,026 crore during the current financial year, according to a press release ...
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PEOPLE
UB’s Whyte & Mackay to have a new MD
Sets up own distribution channel for marketing brands
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Corus directors on Tata Steel board
Tata Steel Ltd will be seeking shareholders’ approval for appointment of four directors of Corus on its board at the company’s annual general meeting to be held on July 18. They are Mr Jim Leng, Mr Philippe Varin, Mr Jacobus Schraven ...
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