CORPORATE
RESEARCH & DEVELOPMENT
Dow to make India its R&D hub
Dow Chemicals is planning to make India its research and development hub and will move 50 per cent of global research activity to India over the next five years.“Dow will significantly increase its R&D head count in India in ...
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BUYBACK
An irrational exemption
That there is surplus cash sloshing around idly and that the company is over-capitalised with the excess capital pulling down the earnings per share (EPS) are the normal twin justifications for a buyback proposal. Hindustan Unilever Ltd’s ...
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ACCOUNTING STANDARDS
‘Cos must incorporate eco accounting practices’
Companies must carry out energy analysis and incorporate environmental accounting practices to reduce green house gas emission levels at their facilities. The government, in turn, could enforce a form of taxation based on companies’ ...
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CORPORATE DISPUTES
Reliance, Mumbai port spar over right of sea way
Access to Rewas via harbour waters
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RESTRUCTURING
Ingersoll Rand to get Rs 103 cr by selling its units
Kolkata, Sept. 6 An extraordinary income of Rs 103.1 crore for Ingersoll Rand (India), owing to sale of its utility equipment, attachments and bobcat business units to Doosan Infracore of South Korea, could not influence the market valuation ...
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MERGERS & ACQUISITIONS
Fortis, Oscar Investments to buy 53% in Malar Hospitals
New Delhi, Sept. 7 Fortis Healthcare Ltd has announced that its subsidiary International Hospitals Ltd (IHL), together with Oscar Investments Ltd, has entered into an agreement for acquisition of about 53 per cent equity of the Chennai-based ...
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NEW PROJECTS
Wartsila plans assembling unit in India
Company will invest over €5 m in the facility
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CLP setting up 100-MW wind farm in Gujarat
Chennai, Sept 7 The Hong Kong-based CLP group (earlier China Light and Power Company) is setting up a 100-MW wind farm in Gujarat at a total cost of over Rs 500 crore. This, according to experts, is among the large investments in the wind ...
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OVERSEAS INVESTMENTS
Carborundum buys 84% of Volzhsky’s ordinary shares
Chennai, Sept. 7 Carborundum Universal Ltd (CUMI) has acquired 84 per cent of the ordinary shares of Russian company Volzhsky Abrasive Works (VAW) for $37 million (around Rs 150 crore). The transaction was done through its wholly owned ...
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Maruti overtakes rivals in Indonesia
New Delhi, Sept. 7 Maruti Udyog Ltd is all set to become big in the Indonesian small car market. In the current fiscal, the company has been able to capture about 60 per cent of the small car market over there with an export order worth 12,000 ...
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REGULATORY BODIES & RULINGS
UK certificate for Aurobindo unit
Aurobindo Pharma Ltd has announced that the UK-MHRA has issued a certificate of GMP Clearance for its Unit-VIII situated at Kazipally, near Hyderabad. With this clearance, the API site (Active Pharmaceutical Ingredients) completes one of the ...
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Indirect foreign holding: New computing method on cards
New Delhi, Sept. 7 A rejig in the method of calculating indirect foreign holding in Indian companies attracting foreign equity cap is on the cards, with the Department of Industrial Policy and Promotion (DIPP) mooting a new methodology that ...
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ALLIANCES & JOINT VENTURES
Kluber, Voltas in distribution pact
Kluber Lubrication and Voltas Ltd announced an agreement on Friday, wherein the latter would be the sole distributor for two lubricant brands, Kluber Speciality Lubricants and OKS High Performance Lubricants, of the Germany-based Freudenberg ...
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Electrotherm, Ajanta ink MoUs with Chinese cos
Gandhinagar, Sept. 7 Gujarat-based Electrotherm India Ltd and Ajanta (Orpat) Ltd today signed MoUs with their Chinese counterparts for technology transfer and investments respectively during the World Economic Forum meet at Dalian, official ...
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OUTLOOK
Juki Corp not in a hurry on India investment plans
Juki Corporation, the industrial and household sewing machinery group, sees India’s apparel and textile sector is on high growth path, but the Japanese technology conglomerate prefers to allow the market to evolve further on volumes ...
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RINL faces iron ore shortage
New Delhi, Sept. 7 Rashtriya Ispat Nigam Ltd (RINL), the holding company of Visakhapatnam Steel Plant, is likely to continue facing acute shortage of iron ore after Chhattisgarh and Orissa Governments refusal to give ore-bearing areas sought ...
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NTPC in talks for making power plant equipment
New Delhi, Sept. 7 NTPC is in talks with established players to manufacture power plant equipment.“NTPC is in talks with some people for technology transfer and expertise,” said the Power Minister, Mr Sushilkumar Shinde, on ...
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Hyundai plans overseas component supply from India
New Delhi, Sept. 7 Hyundai Motors India Ltd plans to source auto components from its Indian vendors to supply to its overseas manufacturing facilities.“We want to allow our Indian component vendors to participate in bidding for ...
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