PREFERENTIAL ALLOTMENTS
Blackstone investment in NCCL okayed
Decks were cleared for the Blackstone Group's Rs 615 crore investment in Nagarjuna Construction Company Ltd (NCCL) after the EGM of the company held on Monday approved the decision. Accordingly, NCCL will issue 2.02 crore equity shares of Rs 2 ... More

DIVIDEND ANNOUNCEMENT
MRPL pays dividend to HPCL
Mangalore Refinery and Petrochemicals Ltd (MRPL) on Monday paid a dividend of Rs 23.77 crore for the financial year 2006-07, to Hindustan Petroleum Corporation Ltd (HPCL). HPCL holds 16.95 per cent stake in MRPL. A press release by MRPL said here ... More

NEW BUSINESS
IVRCL bags orders worth Rs 394 cr
Hyderabad, Sept 24 IVRCL Infrastructures and Projects Ltd has bagged orders aggregating Rs 394.24 crore. The works include construction of three towers at Phase II, Rajiv Gandhi Infotech Park, Pune, a housing project in Nerul, Navi ... More

Norit bags Rs 11.2-cr deals
Norit India, a wholly owned subsidiary of Norit, Netherlands, has bagged three deals collectively valued at €2 million (about Rs 11. 2 crore), according to a press release. The deals include supplying carbon dioxide and oxygen management ... More

AWARDS & HONOURS
Excellence award for ONGC
Oil and Natural Gas Corporation Ltd has won the Golden Peacock Global Award for excellence in corporate governance-2007, conferred by the World Council for Corporate Governance, London. The award was presented to ONGC by Mr Ola Ullsten, Chairman ... More

RESTRUCTURING
India Cements rejigs board; 3 new directors inducted
Chairman N. Sankar, N. Kumar resign More

MERGERS & ACQUISITIONS
LB India buys stake in Genus Overseas
Mumbai, Sept. 24 LB India Holdings Mauritius II Ltd has acquired a 7.83 per cent stake in Genus Overseas Electronics Ltd. The company bought 962708 shares, according to the data available on the BSE. On the other hand, Franklin India ... More

NEW PROJECTS
Bajaj Auto moves ahead on 4-wheeler project
Pune, Sept. 24 Bajaj Auto Ltd (BAL) took possession of 250 acres of land earmarked for its four-wheeler project at Chakan on Monday, taking its first definitive step in the direction of extending its existing product portfolio of two- and ... More

OVERSEAS INVESTMENTS
ONGC Videsh signs contract for Myanmar blocks
New Delhi, Sept. 24 ONGC Videsh Ltd, the wholly owned subsidiary of ONGC, has signed production sharing contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE), a Government of Myanmar enterprise for three deep-water exploration blocks. ... More

ALLIANCES & JOINT VENTURES
Norsk may pick up stake in more ONGC blocks
Kolkata, Sept. 24 Norsk Hydro may pick up participatory stake in more ONGC operated offshore blocks. The Norwegian company has already completed the first phase of visits in ONGC data room regarding all 32 offshore NELP blocks held by ... More

Ranbaxy partners Sirtex to sell liver cancer drug
New Delhi, Sept. 24 Ranbaxy Laboratories Ltd has entered into an exclusive in-licensing agreement with Australian company Sirtex Medical Pvt Ltd (Sirtex) to sell the latter’s registered product for liver cancer. The ten-year-old ... More

DIVERSIFICATION
IVRCL to enter mining soon
IVRCL Infrastructures and Projects Ltd will foray into mining operations soon. The company’s annual general meeting held on September 7 had amended the objects clause of Memorandum of Association. According to a release, the management was ... More

OUTLOOK
Indian Oil set to enhance refining capacity
Mumbai, Sept. 24 Indian Oil Corporation Ltd (IOC), the largest public sector petroleum company, plans to invest Rs 43,250 crore over the next five years. It is also set to enhance its refining capacity to 80 million tonnes per annum.Mr ... More

ONGC plans Mumbai field Phase II redevelopment
May seek board nod next month; plans on to hike gas processing capacity More

Suzuki plans rolling out new models next year-end
Mumbai, Sept. 24 Suzuki Motorcycle India Private Ltd intends introducing 3-4 models by next year-end. These would cater to the 125cc plus segment in the scooter and motorcycle range, said Mr Atul Gupta, Vice-President - Sales & ... More