The Hindu Business Line : Wednesday, February 06, 2008

DIVIDEND ANNOUNCEMENT
STC pays 35% interim to Govt
A dividend cheque for Rs 9.56 crore by way of the interim dividend of 35 per cent for 2007-08, was presented to the Union Minister of Commerce and Industry, Mr Kamal Nath, by the Chairman and Managing Director of State Trading Corporation of ... More

AWARDS & HONOURS
NTPC bags award
KOLKATA: NTPC Ltd has received the Mother Teresa Award (for community development work) for 2006. The award, now in its 10th year, was instituted by the Loyola Institute of Business Administration (LIBA), an associate ... More

COURTS/LEGAL ISSUES
Surcharge for disaster management upheld
Chennai, Feb. 5 Levy of surcharge on certain goods under Central excise tariff introduced by Finance Act 2001 to meet liability for disaster management has been upheld by the Madurai Bench of Madras High Court.Dismissing a writ by ARR ... More

ACCOUNTANCY
ICAI plans panel to focus on public finances
New Delhi, Feb 5 The Institute of Chartered Accountants of India (ICAI) is set to play a larger advisory role in the fiscal affairs management of the State Governments across the country. This was indicated by the new ICAI President, Mr Ved ... More

RESTRUCTURING
GVK Power’s 7 subsidiaries become wholly-owned
Seven subsidiaries of GVK Power and Infrastructure Ltd, the Hyderabad-based diversified power and infrastructure company, have become wholly owned subsidiaries with effect from February 1.The company in a statement to the Bombay Stock ... More

MERGERS & ACQUISITIONS
Phoenix Mills mulls stake in EWDPL
Phoenix Mills Ltd has said that it will enter into a strategic alliance with Entertainment World Developers Pvt Ltd (EWDPL) by acquiring over 42 per cent stake. The stake will be acquired by Phoenix through a combination of fresh cash infusion ... More

NEW PROJECTS
Tata Power, DVC wrap up Maithon Power project financing
Estimated to cost Rs 4,450 cr; debt-equity ratio at 70:30 More

Mesco Steel to invest $2.8 b in two plants in Orissa
Talks on to finalise partner for Mesco Kalinga Steel project More

OVERSEAS INVESTMENTS
Northern Ireland opening investment office in Mumbai
More

TRADE & LABOUR UNIONS
MRF lifts lockout at Chennai plant
MRF Ltd has lifted the lockout at its Chennai facility following State Government’s intervention and resumed operations from today.According to information provided by the company to the stock exchange, the company which had ... More

ALLIANCES & JOINT VENTURES
REC in pact with IIFCL, Hudco to fund power projects
New Delhi, Feb. 5 State-run Rural Electrification Corporation (REC) has entered into agreements with India Infrastructure Finance Company Ltd (IIFCL) and Hudco for consortium lending for major power projects coming up under the public-private ... More

MRPL, Shell sign jt venture shareholders pact
Mangalore, Feb. 5 Mangalore Refinery and Petrochemicals Ltd (MRPL) on Tuesday signed the joint venture shareholders agreement with Shell. The agreement will be effective from March 1.A company release said here that the joint venture company ... More

VENTURE CAPITAL
Maytas gets $150-m pvt equity investment
Maytas Properties Ltd has received private equity investment to the tune of Rs 600 crore ($150 million) from Infinite India Investment Management.The Hyderabad-based realty company will be divesting a minority stake to Infinite India, ... More

Argonaut invests Rs 30 cr in Vallabhdas Kanji
Mumbai, Feb. 5 The US-based global private equity fund Argonaut Private Equity, which manages more than $3.5 billion, has invested $7.5 million (Rs 30 crore) in Kochi-based Vallabhdas Kanji Ltd (VKL).Argonaut funding will allow VKL to ... More

OUTLOOK
L&T order book likely to grow 30% by March
Mumbai, Feb. 5 Engineering major Larsen and Toubro is likely to see its order book increase by an additional 30 per cent by March 2008. This would translate into a revenue growth of about 25 per cent over the next three- to five-year period, ... More