The Hindu Business Line : Wednesday, August 22, 2007

OPEN OFFERS
Kemoil open offer for addl stake in Calsoft
Mumbai, Aug. 21 Kemoil Ltd has made an open offer at Rs 100 per share to pick an additional 20 per cent stake in the BSE-listed California Software Solutions (Calsoft). The open offer, if fully subscribed to, may see Kemoil’s equity ... More

OVERSEAS BORROWINGS
Damodar Valley Corp may raise Rs 250-crore loan with KfW’s help
It is implementing capacity expansion plan worth over Rs 24,000 cr More

PVR Cinemas puts FCCB plans on hold
“We have enough funds tied up through both debt sanctions and cash from internal accruals for our immediate expansion plans.” More

NEW BUSINESS
BHEL bags Rs 6,500-cr turnkey contracts
DVC has already awarded turnkey contracts for setting up Koderma and Durgapur Steel thermal power stations of 1000 mw each to Bharat Heavy Electricals Ltd. The total contract value is Rs 6,500 crore. BHEL has won the contracts through ... More

PSL bags $2.4-m order from Oman
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Lanco bags Varanasi airport deal
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AWARDS & HONOURS
SIFL bags best PSU award
Thiruvananthapuram, Aug. 21 The Thrissur-based Steel and Industrial Forgings Ltd. (SIFL) has bagged the first ever award for the best performing public sector undertaking instituted by the Kerala Industries and Commerce Department.The ... More

COURTS/LEGAL ISSUES
Madras High Court: The Novartis Judgment
A review of the after-effects
The recent Madras High Court decision on Swiss pharmaceutical company Novartis challenging Section 3(d) of Indian patent law has important implications for India. Novartis challenged not only Indian patent law but also contested the overturn of ... More

ENVIRONMENT
JSW Steel’s greening scheme gives boost to jatropha
Entrusts daily farm work to NGO More

HUMAN RESOURCES
Marginal increase in pvt sector employment
New Delhi, Aug. 21 There has been a marginal increase in the number of workers employed in the organised private sector in the country between 2004 and 2005, according to data available with the Ministry of Labour.The total number of ... More

RESTRUCTURING
Kilburn Engg clears sale of property to HDIL
Kolkata, Aug. 21 The board of directors of Kilburn Engineering at a meeting on Monday approved the sale of the company’s property, measuring about 8.32 acres, in Bhandup, Mumbai to Housing Development & Infrastructure Ltd for a ... More

GMR incorporates 3 subsidiaries
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MERGERS & ACQUISITIONS
Gokaldas bullish on tapping Blackstone customer base
Mulls reviving Wearhouse chain More

Blackstone open offer for Gokaldas at Rs 275
Mumbai, Aug. 21 Blackstone Group, which bought 50.1 per cent in Gokaldas Exports on Monday, has made an open offer at Rs 275 per share to acquire an additional 20 per cent stake in the company.The company has fixed September 7 as ... More

Carborundum to buy IVP unit
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NEW PROJECTS
Maharashtra gives mega status to 3 projects
Birla Cotsyn, ISMT and PARI to set up factories in backward areas More

Exide has no plans for new units
Hyderabad, Aug. 21 Exide India plans to invest Rs 100 crore on expansion, modernisation and quality upgrade initiatives across eight plants, including six for batteries.The company is in the process of expanding capacities for ... More

Nissin setting up unit in Rajasthan
New Delhi, Aug. 21 Nissin Brakes India Pvt Ltd, a joint venture between Japanese component maker Nissin Kogyo and Nissin R&D Asia Co Ltd, on Tuesday announced setting up a manufacturing facility in Rajasthan at an investment of about Rs 80 ... More

Magnum Ventures plans IPO; price band is Rs 27-30
Mumbai, Aug. 21 Magnum Ventures Ltd, a company in the paper manufacturing and hospitality business, plans to enter the capital market with an initial public offering of up to 1.76 crore shares of Rs 10 each through a 100 per cent book building ... More

OVERSEAS INVESTMENTS
JSW Steel buys group of 3 US cos
Funding for acquisition, working capital will be $940 m More

TRADE & LABOUR UNIONS
Oil PSUs officers call off strike
New Delhi, Aug. 21 Officers of public sector oil companies have called off their indefinite strike after the Government agreed to their demands and offered a higher interim relief in lieu of delay in revising their wages, thus, avoiding any ... More

ALLIANCES & JOINT VENTURES
VSP-Morgan in pact for rod mill
The Visakhapatnam steel plant signed a memorandum of understanding (MoU) with Morgan (US) on Monday evening for wire rod mill as a part of the expansion project to take the capacity of the plant to 6.3 million tonnes from the present 3 million ... More

VENTURE CAPITAL
Ajay Piramal group launches healthcare fund
Mumbai, Aug 21 The Ajay Piramal Group (Piramal Enterprises) is foraying into the general private equity business by launching a $200-million (Rs 817-crore) healthcare fund.The fund would look to support healthcare projects seeking ... More

SICK UNITS
BIFR seeks explanation from Dunlop on transfer and sale of assets
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OUTLOOK
Siemens to unveil India growth strategy in Sept
Business volumes have tripled in three years, says CEO Loscher More

John Energy’s rig commissioned
Ahmedabad, Aug. 21 The Ahmedabad-based John Energy Ltd, which invested Rs 180 crore this year to create an infrastructure and expand its oil and gas drilling rigs contract service, is set to invest another Rs 400 crore next year. Today, ... More

Bentley to introduce Continental GT Speed
Azure range also in the pipeline More