The Hindu Business Line : Thursday, July 19, 2007

ANNOUNCEMENTS
Biocon sells enzymes biz to Danish co for $115 m
Bangalore, July 18 Biocon Ltd has sold its enzymes business to Denmark-based Novozymes A/S for $115 million. This will enable the company to focus on its core bio-pharmaceuticals business. The enzyme business includes a broad range of ... More

NEW BUSINESS
Rs 272-cr order for Rajesh Exports
Rajesh Exports has bagged an export order worth Rs 272 crore from Lazorde Jewellery, Kuwait. The order for gold jewellery will be executed at the company’s manufacturing facility in Bangalore. The manufacturing facility has an installed ... More

Nagarjuna Const bags 2 contracts
Nagarjuna Construction Company Ltd has announced that the company has been awarded two projects valued at Rs 236 crore. The first project valued at Rs 200 crore relates to a reservoir at Nandyal in Kurnool district, while the second worth Rs 36 ... More

INSIGHT
Parents, not subsidiaries, contribute most to consolidated profit
Mumbai, July 18 For all the corporate talk about inorganic growth, subsidiaries do not contribute significantly to the consolidated financial performance for most blue-chip corporates.Data for the top 25 companies in 2006-07 shows that ... More

COURTS/LEGAL ISSUES
No stay on RIL gas sale order
More

RESTRUCTURING
HEG selling steel biz for Rs 88.5 cr
Company to focus on graphite electrodes More

MERGERS & ACQUISITIONS
Hindalco buying Alcan’s 45% stake in Utkal Alumina
Company not to look for another partner More

Protecting the secondary shareholder
More

WPP expansion to focus on new tech
Looking at stake holding; acquiring new cos More

Walker eyes stake in Flemingo Dutyfree Shop
New Delhi, July 18 Walker Investments, an affiliate of private equity fund Samara Capital Partners Fund I Ltd, plans to acquire up to 15 per cent equity in Flemingo Duty free Shop Private Ltd (FDSPL) for up to Rs 80 crore.FDSPL – ... More

Dollex poised to buy Maharashtra coop sugar unit
Formal nod from State expected in a week More

A big deal for Wipro
With Unza in its fold, Wipro Consumer Care has found a place in the big league of FMCG companies. More

NEW PROJECTS
Uttam Galva plans steel plant in Maharashtra
Uttam Galva Steel plans to set up a steel plant along the Mumbai-Pune highway, where its proposed SEZ projects are coming up.The company has received clearance for establishing three SEZs in Maharashtra.Without divulging ... More

Sona Koyo plans aluminium die casting, forging unit
New Delhi, July 18 In an attempt to expand the scope of its business, Sona Koyo Steering Systems Ltd is looking to set up an aluminium die casting and forging unit. “We are examining setting up of an aluminum die casting and forging unit ... More

ALLIANCES & JOINT VENTURES
GAIL, IOC firm up ties for city gas projects
New Delhi, July 18 GAIL (India) Ltd and Indian Oil Corporation Ltd have firmed up their ties for a second joint venture for city gas distribution (CGD) project. According to sources, although an umbrella agreement between the two ... More

Owens Corning ties up with Anutone Acoustics
Bangalore, July 18 Owens Corning, acoustical and building materials technology company, has tied up with Anutone Acoustics to promote jointly-branded architectural acoustic solutions throughout the South Asian and West Asian regions. ... More

OUTLOOK
Cairn gets DGH nod for appraisal programme
To exploit full potential of Rajasthan Basin More

RCF lines up plans to invest Rs 10,500 cr
The public sector Rashtriya Chemicals and Fertilisers Ltd (RCF) is looking at investing around Rs 10,500 crore during the 11th Five-Year Plan period for reviving two closed fertiliser units and in expansion of existing ... More

Gujarat Gas expanding network in Surat, Bharuch
Sees 30-40% growth in sales from these districts More

Xerox to strengthen Kerala presence
Kochi, July 18 Xerox India has rolled out “Momentum 2007”, a series of reseller engagement activities, and outlined plans to strengthen its presence in Kerala. This will involve activities such as appointing new channel ... More