The Hindu Business Line : Wednesday, September 19, 2007

ANNOUNCEMENTS
MUL renamed Maruti Suzuki India Ltd
New Delhi, Sept. 18 Maruti Udyog Ltd has received approval from Registrar of Companies to be named as Maruti Suzuki India Limited with effect from September 17, 2007. The company has been considering such a move to align its image with ... More

PREFERENTIAL ALLOTMENTS
Bhagyanagar okays pref warrants
The board of directors of Bhagyanagar India Ltd today approved the allotment of 1,15,0000 warrants of face value of Rs 2 each at a price of Rs 44 on a preferential basis to Foster Ventures Ltd and Trimurthy Advisory Services and to the company ... More

DIVIDEND ANNOUNCEMENT
MRPL pays dividend to ONGC
Mangalore Refinery and Petrochemicals Ltd (MRPL), an ONGC group company, has paid a dividend of Rs 100.43 crore to ONGC for 2006-07. A company release said here on Tuesday that Mr R.S. Sharma, Chairman and Managing Director of ONGC, who is also ... More

NEW BUSINESS
Crompton Greaves bags 3 power distribution divisions in Nagpur
Will sign franchise pact with Maharashtra State Electricity Distribution Co for 15 years More

HUMAN RESOURCES
Ma Foi Academy opens centre in Madurai
Madurai, Sept. 18 Ma Foi Academy, the training division of the Rs 330-crore Ma Foi Management Consultants Ltd (MFMCL) opened its career training centre, the sixth in the State, here on Tuesday.With most industries looking to expand ... More

MERGERS & ACQUISITIONS
Philips India scouting for M&As; identifies companies
Focuses on health care, lighting and consumer durable domains More

Yet another overseas buy for Indian Hotels
Acquires 10% stake in Orient Express More

Neha International acquires Globeagro Holdings
Hyderabad, Sept. 18: Neha International Limited, a city-based floriculture company, is acquiring the Mauritius-based Globeagro Holdings for a consideration of Rs 41.32 crore.The Mauritius company has management control of three ... More

NEW PROJECTS
Citi Venture Capital invests Rs 150 cr in SVIL Mines
To increase the level of investment in India to $1.6 b More

Skoda Power to set up turbine unit in Hyderabad
More

Leelaventure draws up Rs 2,200-cr capex plan
Mumbai, Sept. 18 Hotel Leelaventure Ltd has drawn up a capital expenditure plan of Rs 2,200 crore for the next three years for developing hotel properties spanning the major cities in the country. An amount of Rs 1,100 crore has already ... More

OVERSEAS INVESTMENTS
Educomp acquires 70.5% stake in Savvicca
New Delhi, Sept. 18 Educomp, a technology driven education company also dealing in Education Process Outsourcing (EPO), on Tuesday announced that it has acquired 70.5 per cent strategic stake in Toronto based Savvicca Inc. Savvicca is ... More

GAIL may rope in RIL for proposed plant in Iran
GAIL (India) Ltd may rope in Reliance Industries Ltd (RIL) in the proposed one-million-tonne-per-annum petrochemicals plant in Iran if other partners in the project agreed, Mr Goel said. “There is an existing memorandum of understanding ... More

TRADE & LABOUR UNIONS
Sundaram Ind told to pay difference in wages
The Madurai Bench of the Madras High Court has directed Sundaram Industries Ltd (Rubber Factory), Madurai, to pay to workmen their claim of difference in wages as compared to other workmen covered by settlement under Section 18(1) of the ... More

ALLIANCES & JOINT VENTURES
Trent, Benetton join hands for strategic partnership
Mumbai, Sept. 18 Tata Group retail company Trent Ltd has been appointed as the master franchise for the Benetton Group’s Sisley brand in India for a period of five years.A strategic partnership has been forged between Benetton and ... More

Jubilant extends association with Syngenta
New Delhi, Sept. 18 Jubilant Organosys, a custom research and manufacturing services (CRAMS) company, has extended its association with Swiss agribusiness and biotech company, Syngenta, with a five year, multimillion-dollar contract.The ... More

Maruti plans jt venture with Japanese co Futaba
Co to make and sell exhaust systems components More

NHPC signs pact with PFC
New Delhi, Sept. 18 National Hydroelectric Power Corporation (NHPC) has signed three memorandum of agreements with Power Finance Corporation (PFC) for line of credit facilities aggregating Rs 3,000 crore to meet funding requirements for its ... More

DIVERSIFICATION
Indo Asian Fusegear to enter power distribution
New Delhi, Sept. 18 Electrical equipment manufacturer Indo Asian Fusegear Ltd (IAFL) on Tuesday announced plans to foray into the power distribution. The Delhi-based firm would set up a new company, Indo Asian Power Distribution and ... More

Sudhir Gopi plans foray into realty
Kochi, Sept 18 Sudhir Gopi Holdings (SGH), offering services in the field of higher education, is foraying into the real estate development segment with significant investment plans across South India and West Asia.Sudhir Gopi Developers ... More

BONUS ANNOUNCEMENTS
STC board to consider bonus issue
The State Trading Corporation today said its board of directors, at its meeting scheduled to be held on September 26, would consider the allotment of bonus shares. The meeting would consider the allotment of bonus shares in the ratio of 1:1 ... More

OUTLOOK
GAIL to borrow Rs 7,000 cr from domestic, overseas market
To partially fund capital expenditure requirements for pipeline projects More

PERFORMANCE
Essar Steel retail foray reaps rewards
Mumbai, Sept. 18 Essar Steel’s venture in retailing appears to have led to a significant mark-up in sales. For the first quarter of the current fiscal, Essar Steel Hypermart revenues stood at Rs 565 crore, representing 20 per cent of its ... More