CORPORATE
ANNOUNCEMENTS
Taj to hike room tariffs from October 1
Mumbai, Sept. 4 Indian Hotels Company said on Tuesday that it will raise room tariffs at its properties in India by an average of 15 per cent from October 1. “The hotel industry usually raises rates once a year in India, from ...
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PREFERENTIAL ALLOTMENTS
Omax puts off rights plan, opts for pref offer
The tough market conditions faced by the auto ancillary units which have impacted their stock price, seems to have forced Omax Autos Ltd (OAL) to choose the option of a preferential offer instead of taking the further issue/rights issue route ...
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Andhra Cements allots 87 lakh shares
Andhra Cements Ltd has allotted 87.4 lakh equity shares of Rs 10 at a premium of Rs 18.60 per share to Infrastructure Development Finance Company Ltd on preferential basis. The company informed the BSE that its committee of board of directors, ...
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NEW BUSINESS
L&T bags orders worth Rs 267 cr
Mumbai, Sept 4 Engineering and construction company Larsen & Toubro Ltd (L&T) has secured two contracts valued at Rs 267 crore from Indian Oil Corporation and Liaoning Huajin Chemical Corporation, China, for their capacity expansion ...
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Naftogaz bags 2 Bina refinery projects
Naftogaz India Pvt Ltd, a subsidiary of NJSC Naftogaz of Ukraine, has been allotted two contracts for Bharat Oman Refineries Ltd (Bina Refinery Project) being implemented in Bina, Madhya Pradesh. The value for the hydrogen generation unit ...
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COURTS/LEGAL ISSUES
The Novartis saga — Prescription for patent strategy in India
Pharmaceutical companies may not get very far in India by deploying aggressive bullying tactics. Rather, a long-term strategy and a robust public relations policy that appreciates the “politics” of patents and helps generate goodwill is likely to prove more fruitful.
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HUMAN RESOURCES
‘Growth in employment of women higher than men’
New Delhi, Sept. 4 There appears to be a clear trend in recent years among private sector employers in favour of hiring women workforce than men.According to the data available with the Ministry of Labour, the annual rate of growth in ...
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RESTRUCTURING
Visteon completes sale of Chennai powertrain unit
As part of its business restructuring, the US-based Visteon Corporation has completed the sale of Visteon Powertrain Control Systems India (VPCSI) to Adyar River Ltd, according to a press release. VPCSI manufactures starters and ...
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NEW PROJECTS
French trolley co to set up local unit
Plans joint venture with Retail Detailz
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Coal India’s Jharkhand project may be completed this year
After a decade since it was launched in 1997, the UNDP-GEF (Global Environmental Facility) funded coal bed methane development project undertaken by Coal India Ltd (CIL) at Moonidh–Sudamdih in Jharia coalfields in Jharkhand, is expected ...
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OVERSEAS INVESTMENTS
RIL likely to close 2 oil block deals in Peru
Deploys the farm-in activity route
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Reliance buys majority stake in African oil retailer
Reliance Industries said that it has acquired a majority stake and management control in an East Africa-based oil retail distribution company Gulf Africa Petroleum Corporation (GAPCO).Reliance did not disclose the financial details of ...
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TRADE & LABOUR UNIONS
Meet to hear Bajaj Auto Akurdi issue
A meeting in Mumbai between the Maharashtra Labour Minister, Mr Ganesh Naik, and the various parties concerned over the closure of the Akurdi plant of Bajaj Auto Ltd is now being held in Pune and will be attended by the Union Agriculture ...
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ALLIANCES & JOINT VENTURES
Taj Hotel signs marketing alliance with Okura
Agreement is for a period of two years and is extendable
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Big 92.7 FM ties up with Asian FM
Chennai, Sept. 4 Big 92.7 FM has tied up with Asian FM of the US to syndicate “Hinglish” non-music content to the latter. The Rs 400-crore radio initiative from Adlabs Films, part of Reliance ADAG, recently launched a separate ...
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Vascon Engineers, Pricol Property in joint venture
Pune-based Vascon Engineers Ltd (Vascon) has joined hands with Coimbatore-based Pricol Property Development Ltd to promote a joint venture styled Vascon Pricol Infrastructures Ltd to take up a premium hotel project and a ...
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Bharti, AXA join hands for asset management biz
New Delhi, Sept. 4 Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA APH) today announced a joint venture to establish an asset management company in India. The details of the joint venture were not ...
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EVENTS
Thai Deputy PM visits Tata Steel
Mumbai, Sept 4 The Deputy Prime Minister and Minister of Industry of Thailand, Mr Kosit Panpiemras, visited Tata Steel on Monday. He was accompanied by Mr Satit Chanjavanakul, Secretary-General, Board of Investment (BOI), Mr Vittaya ...
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OUTLOOK
Intermet buy to help Sakthi Auto bolster presence
Coimbatore, Sept. 4 Four months after buying out Intermet Europe from Intermet International, USA, the Chairman of Sakthi Auto Component Group, Mr M. Manickam, appeared confident of taking the Group to greater heights.“We have ...
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PERFORMANCE
Rashtriya Ispat notches record sales in April-August
Visakhapatnam, Sept. 4 Rashtriya Ispat Nigam Ltd (RINL), the holding company of Visakhapatnam steel plant, achieved a record sales turnover of Rs 3,431 crore during the period from April to August this year. The figure for the last ...
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Hero Honda motorcycle sales up 12%
Hero Honda Motors Ltd reported a 12 per cent increase motorcycles sales in August 2007, with 2,40,875 units sold as against 2,15,076 units in the same period last year. “This growth of 12 per cent in the face of the slowdown in ...
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Hyundai Aug domestic sales flat
Hyundai Motor India Ltd, reported a 7.7 per cent increase in its overall sales at 28,394 units in August 2007 as compared with the same period last year. In the domestic market, the company registered marginal growth with sales at ...
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PEOPLE
Y.S. Mayya is new ECIL director
Mr Y.S. Mayya has been appointed as the new Director (Technical) of the Hyderabad-based Electronics Corporation of India Ltd (ECIL). Before this position, he was heading the distributed automation & control section at the Bhabha Atomic ...
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