The Hindu Business Line : Friday, September 21, 2007

ANNOUNCEMENTS
RIL strikes oil in new KG Basin well
After striking gas in two exploration blocks, Reliance Industries Ltd (RIL) is understood to have found oil in its D4 block in the Krishna Godavari Basin. The company has completed the technical testing in the block KG-DWN-98/1 (D4) on ... More

Porsche unveils high-speed model at Frankfurt show
Mumbai, Sept. 20 If you thought that the 911 Turbo was the fastest Porsche you ever drove and probably the most expensive among all Porsche models, think again. Porsche has just launched the most expensive and fastest 911 model – the new ... More

Adani Power turnkey contract for Chinese co
Kolkata, Sept. 20 Adani Power Ltd (APL), a wholly owned subsidiary of Adani Enterprises Ltd, has awarded a turnkey contract for setting up the second phase of the proposed 2,640-MW coal based power plant at Mundra to Shandong Electric Power ... More

Maybach has not found enough buyers in India
Bangalore, Sept. 20 One of the world’s costliest cars, Daimler Chrysler’s Maybach has not found enough buyers in India.Carrying a price tag of over Rs 5 crore and launched in early 2004, its owners have been able to sell ... More

OPEN OFFERS
Sesa Goa moves past open offer price
Able to up its annual contract prices at par with global rates More

CORPORATE DISPUTES
Britannia initiates legal action against Danone
Use of biscuit brand Tiger abroad More

NEW BUSINESS
Simplex bags orders for Rs 802 cr
Simplex Infrastructures Ltd, an infrastructure solutions provider, has announced that it has bagged orders worth Rs 802 core in four business segments. “These contracts in various infrastructure segments – industrial structures, urban ... More

COURTS/LEGAL ISSUES
HC restrains Emmar, Lanco Hills
The Andhra Pradesh High Court on Thursday granted a stay restraining Lanco Hills and Emmar Properties from construction in a 400-acre site located in the Manikonda village near Hyderabad.Mr Justice V. Eshwaraiah delivered these interim ... More

MERGERS & ACQUISITIONS
Morepen to offload 15% stake to Avenue Capital
More

NEW PROJECTS
ITC paper division capacity addition, tech infusion on course
Second Rs 600-cr pulp line to introduce ozone bleaching for TCF paper board More

City Group launches phase II of Amanora Park Town
Pune Sept. 20 The Pune-based City Group, real estate promoter and developer, has announced the launch of Amanora Park Town phase II, the first integrated township in the State. Mr Aniruddha Deshpande, Managing Director, City ... More

InCap tripling Tumkur unit capacity
Bangalore, Sept. 20 Finnish firm InCap Contract Manufacturing Services is tripling the capacity of its recently acquired electronics manufacturing plant in Tumkur, a reaction to the increase in demand seen in the country. The Rs 490-crore firm ... More

OVERSEAS INVESTMENTS
Indian firm buys foreign parent
VA Tech to regain leadership position in global water management biz More

SAIL, RINL officials to visit Australia
New Delhi, Sept. 20 Officials from Steel Authority of India Ltd (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) will be visiting Australia shortly to negotiate acquisition of coking coal assets.At a review meeting here on Thursday, Mr Ram ... More

ALLIANCES & JOINT VENTURES
Godrej & Boyce looking for partners
Kolkata, Sept. 20 Godrej & Boyce Manufacturing Company Ltd is scouting for international partners to bring in new technology for improving production across all its 14 divisions.“We are looking at joint ventures, both ... More

Titagarh mulls venture with Freight Car, GE Group co
Kolkata, Sept 20 The Kolkata-based Titagarh Wagons Ltd has proposed to form a joint venture with Freight Car of the US and “one of the GE Group companies” to set up a special purpose, high-capacity railway wagon manufacturing ... More

Shriram Properties ties up with two US equity firms
Mumbai, Sept. 20 Shriram Properties has said that it is partnering with funds sponsored by US real estate investment firms, Walton Street Capital and Starwood Capital Group, to develop a Rs 5,000-crore integrated township in Kolkata. ... More

Hiranandani in talks with hospital majors
Mumbai, Sept. 20 The real-estate-centric Hiranandani Group is in talks with hospital majors in the country to build hospitals for them, said Mr Niranjan Hiranandani, the Group’s Managing Director. Having recently tied-up with the ... More

EVENTS
First AGM
More

VENTURE CAPITAL
SoftBank Capital may pick up stake in Veta
US-based venture capital firm SoftBank Capital is in talks with Chennai-based English language training institute Veta to pick up about 20 per cent equity in the company for about Rs 25 crore, according to sources.SoftBank Capital ... More

DIVERSIFICATION
IndianOil plans to tap non-fuel retail biz
First store likely in March ‘08; Rs 200-cr investment in next 5 years More

Fenner India to diversify into auto components
Fenner (India) Ltd has decided to diversify into auto components, which would be based on rubber and metal. It is also planning to invest close to Rs 100 crore in the next three years.The company, which manufactures belts and oilseals ... More

BPCL to build cinema halls at fuel stations
DRIVE-IN ENTERTAIMENT More

SICK UNITS
‘Kerala Govt may consider FACT takeover’
Kochi, Sept. 20 The Kerala Government may consider taking over the sick central public sector Fertilizers and Chemicals, Travancore Ltd (FACT) into its fold, if the Union Government does not find its latest revival package a viable ... More

OUTLOOK
Honda Siel seeks policy clarity before hybrid car launch
Chennai, Sept. 20 Honda Siel Cars India will wait for clarity on policy before it launches its hybrid cars in India.According to Mr Masahiro Takedagawa, President and CEO, Honda Siel Cars India Ltd, the company is discussing the issue ... More

BPCL’s refinery at Bina set for completion by next Dec
Mumbai, Sept 20 BPCL will complete building its refinery at Bina in Madhya Pradesh by December 2009.The grassroots refinery will have a capacity of six million tonnes a year.As on date, orders in excess of Rs 7,000 crore in value ... More

SAIL hopeful of completing expansion programmes by 2010
Strengthening dealer network; eyeing jt ventures for greenfield units More

Tecpro Systems new plant
Tecpro Systems Ltd, engaged in the business of undertaking turnkey projects in bulk material handling systems, is expanding its manufacturing facilities for enhancing design, manufacturing and engineering capabilities. A release said that the ... More