CORPORATE
ANNOUNCEMENTS
GSPC tastes success in KG-8 well appraisal drilling
Reserve size may increase from DGH-estimated 1.38 trillion cubic feet
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RIL not in favour of fresh bids for discovering gas price
‘Any fresh bids would lead to avoidable complications and delays, which would affect project implementation…’
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New contractor promises to clean up Chennai
Mounds of garbage all over with animals rooting around have become a common sight in the city over the last couple of weeks letting the beholder to a conclusion that the new garbage contractor, Neel Metal Fanalca, is doing a bad job in ...
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Maruti shareholders seek 1:1 bonus
New Delhi, Sept. 6 The shareholders of Maruti Udyog Ltd asked the company management to issue a 1:1 bonus at the annual general meeting held on Thursday. However, the management told its shareholders that considering the company’s ...
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CORPORATE DISPUTES
RIL gas pricing: ‘Any decision should be subject to HC order’
Reliance Natural Resources Ltd (RNRL) on Wednesday requested the Union External Affairs Minister, Mr Pranab Mukherjee-headed empowered group of Ministers (EGoM) on gas pricing that while granting approval for Reliance Industries Ltd’s ...
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OVERSEAS BORROWINGS
PowerGrid to raise $3 b from World Bank, ADB
New Delhi, Sept. 6 Power Grid Corporation of India (PGCIL) plans to raise around $3 billion (about Rs 12,300 crore) from multilateral agencies to fund various transmission projects during the current Five-Year Plan period.PGCIL plans to ...
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NEW BUSINESS
Rs 55-cr order for Solar Semiconductor
Hyderabad, Sept. 6 Solar Semiconductor has bagged an order worth €10 million (Rs 55 crore) from a European company for supply of high-quality solar photovoltaic (PV) modules.The company, which has offices in Hyderabad and ...
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Sadbhav Engg bags M.P. contracts
Sadbhav Engineering Ltd, the Ahmedabad-based infrastructure development company, has bagged two contracts for execution of two segments of road projects from the Madhya Pradesh Road Development Corporation Ltd. The contracts are worth Rs 196.5 ...
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OUTSOURCING
Sun Pharma deal may not upset Taro’s outsourcing
Mumbai, Sept. 6 Delay in the acquisition process of the Israeli drug-maker, Taro Pharmaceuticals, by the Mumbai-based Sun Pharma may not quite cast a shadow on the two independent outsourcing deals that Taro had formalised with J.B. Chemicals ...
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‘China can be M&M’s sourcing destination’
The auto component division of Mahindra & Mahindra is exploring opportunities to make China a sourcing destination for its business. “We are looking at all three options — a sourcing contract, setting up a subsidiary or ...
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COMPANY LAW
Sikkim seeks amendment to Companies Act
Gangtok, Sept 6 The Sikkim Government has sought to amend the Sikkim Registration of Companies Act, 1961, keeping in line with its focus on bringing about speedy industrialisation in the State. The State Industries Minister, Mr R.B. ...
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AWARDS & HONOURS
ONGC Mehsana bags award
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CREDIT RATING
‘CIOs may liaise with rating agencies on a regular basis’
To guard against US sub-prime like crisis
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MERGERS & ACQUISITIONS
Sintex buying Bright Brothers automotive unit
Mumbai, Sept 6 Sintex Industries Ltd has informed the Bombay Stock Exchange that Bright Autoplastic Pvt Ltd, a downstream subsidiary of Sintex Holdings B.V. Netherlands (Sintex Offshore Holdings), is proposing to acquire the automotive ...
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Sanmar Group to sell stake in India Cements
Chennai, Sept. 6 The Sanmar group, led by Mr N. Sankar, will sell its residual stake in India Cements Ltd, to the co-promoters led by Mr N. Srinivasan, Vice-Chairman and Managing Director, India Cements, and his family.In an ...
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Heritage Foods acquires Vikram Dairy
Hyderabad, Sept. 6 Heritage Foods India Ltd has commenced procurement, processing, packaging, distribution and marketing operations in Maharashtra by purchasing the assets of Vikram Dairy.The acquisition gives Heritage a dairy plant ...
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NEW PROJECTS
Renault, Nissan setting up biz centre in Chennai
Chennai, Sept. 6 Renault and Nissan plan to set up a business centre in Chennai, which will open in early 2008.“When completed, the new business centre will provide services including product and manufacturing engineering, ...
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OVERSEAS INVESTMENTS
Lucas TVS mulls plant in S-E Asia
Chalks out Rs 300-cr investment plan
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REGULATORY BODIES & RULINGS
Aurobindo unit gets FDA nod
Aurobindo Pharma Ltd has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration(FDA) stating its acceptance of the company’s sterile injectable formulation facility in Chitkul Village, near Hyderabad. ...
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ALLIANCES & JOINT VENTURES
Mahindra Finance in talks with GM, Hyundai to tap rural market
May also tie up with two-wheeler cos
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EVENTS
‘Cos must look beyond profit maximisation’
Hyderabad, Sept 6 Tomorrow’s Global Company, a UK-based global corporate think tank, has prepared a report on the role of companies in facing the challenges of a changing world.The report has identified some specific ways in which ...
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STANDARDS & BENCHMARKS
BHEL quality circles to take part in global meet
Three Quality Circles of BHEL, one each from company’s Haridwar, Hyderabad and Tiruchi units will participate in the next International Quality Circle Convention to be held in Beijing. As a prelude, the Hyderabad and Tiruchi units ...
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PEOPLE
Raghuveer Kini is Pharmexcil ED
Mr Raghuveer Kini has been appointed the Executive Director of Pharmaceutical Export Promotion Council (Pharmexcil) headquartered here. Mr Kini was serving the council as Additional Executive Director. He was elevated to the post of Executive ...
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