BUYBACK
Hind Unilever gets nod for buyback
Mumbai, Sept. 14 Shareholders of Hindustan Unilever Ltd (HUL) have approved the special resolution relating to the buy-back of equity shares by the company by a majority of 99.77 per cent votes. The polling was done through postal ... More

PREFERENTIAL ALLOTMENTS
Orissa Sponge to make preferential allotments to Prakausali, TRFI
Pricing of the issues to be done in accordance with SEBI norms More

OPEN OFFERS
Tata Sons fixes offer price for TICL at Rs 600/share
Tata Sons proposes to make an open offer for acquisition of a 29.29 per cent equity stake in Tata Investment Corporation Ltd, at Rs 600 a share – a 33 per cent premium to Friday’s closing price of Rs 450. “This price ... More

CORPORATE DISPUTES
Gas pricing: Panna-Mukta banking on Centre’s verdict
Pricing issues with GAIL More

OVERSEAS BORROWINGS
Lanco Infratech seeks $100-m IFC funding
Lanco Infratech Ltd has sought $100-million (about Rs 400 crore) funding from the International Finance Corporation, an arm of the World Bank.This would include $80 million in debt and $20 million by way of equity participation to part ... More

NEW BUSINESS
L&T, Outotec combine bags Rs 762-cr SAIL order
Mumbai, Sept. 14 The ECC division of Larsen and Toubro, in consortium with Outotec GmbH, Germany, has bagged a Rs 762-crore sinter plant order from Steel Authority of India Ltd (SAIL). A plant of 2 X 204 square metre grate area with a ... More

MERGERS & ACQUISITIONS
Sanmar group exits from India Cements
Chennai, Sept. 14 Mr N. Srinivasan, Vice-Chairman and Managing Director, India Cements Ltd, and his family today bought the residual 2.64 per cent stake of the company’s co-promoters, Mr N. Sankar and his family of the Sanmar ... More

Bigger deals not better: Boston Consulting
Mumbai, Sept. 14 Bigger deals are not necessarily better deals, says Boston Consulting Group, sounding possibly a note of caution to Indian companies that have already or are in the process of forging mega acquisition deals. ... More

NEW PROJECTS
Toyota nudges small car project forward
Has invited bids for various products from auto component makers More

Kavveri Telecom developing new products
Hyderabad, Sept. 14 Kavveri Telecom Products Ltd, the Bangalore-based antennae and RF products manufacturer for the wireless industry, is working on 3G, WiMAX and UWB (ultra wide band) products.UWB refers to a radio technology with ... More

Hallmark Golden County in Chennai
Chennai, Sept. 14 Hallmark Infrastructure Pvt Ltd, which announced the launch of an 86-acre township project, Golden County, at Maraimalai Nagar near here, plans to develop over 10 million sq ft of space in the city suburbs over the next two ... More

TRADE & LABOUR UNIONS
N. P. Ramajayam passes away
Chennai, Sept. 14 Mr N.P. Ramajayam, General Secretary, The Hindu Office and National Press Employees’ Union, died at a private hospital here on Friday after a brief illness. He had recently undergone a heart bypass surgery. He ... More

ALLIANCES & JOINT VENTURES
KSEB inks pact with NTPC
Thiruvananthapuram, Sept. 14 The Kerala State Electricity Board (KSEB) has signed a power purchase agreement with the National Thermal Power Corporation (NTPC) for power from the second phase of Simhadri project in Andhra Pradesh. NTPC ... More

MRPL plans jt venture in Mauritius for oil terminal
Mangalore Refinery and Petrochemicals Ltd (MRPL), which has term contract with the State Trading Corporation (STC) of Mauritius for supply of 1 MMTPA products for three years, is planning to have a joint venture with STC Mauritius for setting ... More

Realty cos opting for jt ventures with foreign players
Niche segment realty players now appear to be eyeing the West for joint ventures to increase revenues and further their reach.The most recent instance is Pune-based Marvel Realtors inking a Rs 500-crore pact with global asset management ... More

Shriram Properties looking for international partners
Bangalore-based Shriram Properties Ltd is scouting for international partners for its proposed hospitality and retail ventures in the IT SEZ in Chennai.Shriram Properties, which has earmarked Rs 900 crore for the project, plans to ... More

INCOME TAX
Vodafone: A case of taxman lifting ‘the corporate veil’ Detaxification
In the case under discussion, the transfer is of shares of an investment company situated outside India and, as such, should not be liable to tax in India. More

OUTLOOK
Solar Semiconductors upbeat on market for photovoltaic modules
Setting up production unit near Hyderabad; signs pact with Italy co More

Voltas hopes to increase sales in western region
Pune, Sept. 14 Voltas Ltd today inaugurated its second exclusive showroom for air-conditioning, commercial refrigeration products and water cooling products. Addressing presspersons, Mr Pradeep Bakshi, Vice-President, Sales and ... More