CORPORATE
ANNOUNCEMENTS
Timex Watches rechristened Timex Group
Bangalore, Oct 30 Timex Watches Ltd has been rechristened Timex Group India Ltd “in line with its growth and diversification plans.” Internationally, the Timex Group has a diverse portfolio of brands in the sports, fashion ...
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OVERSEAS BORROWINGS
Prajay Engg to raise $50 m
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DIVIDEND ANNOUNCEMENT
DLF posts Rs 2,018-cr net profit
Real estate firm DLF Ltd recorded a consolidated net profit of Rs 2,018 crore in the second quarter ended September 30, up 32 per cent from the first quarter profit of Rs 1,524 crore. The company got listed in the middle of this year. ...
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HUMAN RESOURCES
Bonus ordinance promulgated
The President has promulgated the Payment of Bonus (Amendment) Ordinance 2007, which raises the eligibility limit for payment of bonus from the salary or wage of Rs 3,500 per month to Rs 10,000 per month. The ordinance promulgated on October 27 ...
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Corporates offer cars to retain talent
New Delhi, Oct. 30 A rapidly increasing attrition rate in the corporate world seems to be widening the opportunity-cake for the corporate car leasing industry. After non-poaching agreements with other companies and contracts with their ...
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MERGERS & ACQUISITIONS
Call for quick merger of BHPV with BHEL
The CITU has urged the Union Government to expedite the process of merging the public sector Bharat Heavy Plate and Vessels Ltd (BHPV) here with BHEL, as it will be beneficial to both the companies.At a press meet here on Tuesday, Mr ...
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NEW PROJECTS
Orbit to build complex at Lower Parel
Mumbai, Oct. 30 While most realty majors look upon large townships as revenues spinners, niche players such as Orbit Corporation prefer the redevelopment mode to generate similar revenues . A 2.26 lakh sq. ft high rise office complex at Lower ...
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Ispat to invest Rs 1,500 cr in Madhya Pradesh
New Delhi, Oct. 30 Ispat Industries Ltd has announced that it would be investing Rs 1,500 crore in Madhya Pradesh on three new projects. “The company has signed a memorandum of understanding with Madhya Pradesh Trade and ...
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ALLIANCES & JOINT VENTURES
Glenmark outlicences pain molecule to Eli Lilly; deal projected at $350 m
In what will be the third molecule from Glenmark Pharmaceuticals Ltd to get out-licensed, the company has entered into an agreement with Eli Lilly for its prospective pain molecule, GRC 6211. The deal has a projected potential of $350 million, ...
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L&T, Tatas bid for rail wheel factory project: Lalu
Larsen and Toubro and Tatas are in the race to set up the rail wheel factory in Chhapra on a public-private partnership basis with the Indian Railways. Mr Lalu Prasad, Union Minister of Railways, said this in a conference here today ...
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Western Auto, Palfinger join hands
Western Auto, part of the UAE-based ETA Star Group and the Austria-based Palfinger have invested €1.2 million (about Rs 7.2 crore) to set up a joint venture company called Star Palfinger headquartered in Chennai to distribute and service ...
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GTC in pact to develop Hyderabad property
New Delhi, Oct. 30 GTC Industries Ltd, part of the Sanjay Dalmia Group, has entered into an agreement to jointly develop its Hyderabad property. According to the agreement, while the ‘developer’ with which GTC has entered ...
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IMPACT
Glenmark deal: Phase II success is crucial
One of the largest licensing pacts in terms of fees
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OUTLOOK
Wheels India set to scale up capacity
Chennai, Oct. 30 Wheels India Ltd is all set to scale up its capacity with an investment of Rs 100 crore. It currently produces a total of eight million wheels a year which will go up to 10 million by April 2008, said Mr Srivats Ram, Joint ...
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Air France KLM plans MRO facility in India
Hyderabad, Oct. 30 Air France KLM is exploring the possibility of setting up an MRO (maintenance, repair and overhaul) facility in India once the number of aircraft seeking that service reaches certain volumes.The airline company, ...
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