CORPORATE
ANNOUNCEMENTS
HM expanding dealer network
Hindustan Motors, part of the CK Birla group, said it would expand dealership for the Mitsubishi range of products to expand its presence in the domestic market. “By the end of calendar year 2008, we will have 45 dealer locations pan-India ...
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DIVIDEND ANNOUNCEMENT
Jindal Steel to pay 150% interim
Jindal Steel & Power Ltd has said that the board of directors has approved payment of 150 per cent interim dividend for the year 2007-08, Rs 1.50 per equity share at Re 1 each in respect of 15,39,61,340 fully paid up equity shares of the ...
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NEW BUSINESS
BHEL gets Rs 650-cr Libya order
New Delhi, Feb. 18 Bharat Heavy Electricals Ltd (BHEL) on Monday said it has secured a Rs 650-crore order for setting up a 300-MW gas turbine-based power plant in Libya. The order, to be executed on engineering, procurement and ...
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L&T bags Rs 1,250-cr ONGC order
Mumbai, Feb. 18 Engineering and construction company Larsen & Toubro said that it has bagged a Rs 1,250-crore turnkey fast track project from Oil and Natural Gas Corporation. The project comprises building three smart well platforms for ...
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NHAI order for Patel-KNR venture
Patel-KNR Joint Venture has been awarded an order worth Rs 206 crore by the National Highways Authority of India (NHAI). The company, which is a 50:50 joint venture between KNR Constructions and Patel Engineering Ltd, will implement the works, ...
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OUTSOURCING
Japan’s IHI keen to source components from India
The $12-billion IHI Group of Japan is keen to source key components for its construction equipment and other hitech areas, while it is not in favour of establishing a manufacturing base in India at present. “We have no plans to ...
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ACCOUNTANCY
ICAI Hyderabad office-bearers
Mr B. Chakrapani and Mr D. Swami Reddy have been elected as Chairman and Vice-Chairman of Southern India Regional Council of the Institute of Chartered Accountants of India (ICAI), Hyderabad, in the elections held on February 12. Mr Hari Govind ...
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ENVIRONMENT
Deepak Fert unveils CDM project
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MERGERS & ACQUISITIONS
Walt Disney investing Rs 805 cr in UTV
Mumbai, Feb. 18 Walt Disney has offered to invest Rs 805 crore to increase its stake to 32.1 per cent in media and entertainment company UTV. The California-based family entertainment and media enterprise, at present, has 13.7 per cent stake ...
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Refex picks up 51% stake in Kaltech Engg
Chennai, Feb. 18 Chennai-based Refex Refrigerants Ltd (RRL) has acquired 51 per cent stake in Kaltech Engineering & Refrigeration Private Ltd based in Singapore for S$11 million (Rs 31 crore). RRL is a specialist refiller of refrigerant ...
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NEW PROJECTS
Hinduja arm PL Haulwel Trailers setting up unit near Chennai
Chennai, Feb. 18 The Chennai-based, Rs 60-crore PL Haulwel Trailers (PLHT), part of the Hinduja Group, will soon be setting up a green field facility in Oragadam, about 50 km from Chennai. This is to primarily shift its Chennai unit operating ...
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D’Mart to set up facility in Gwalior
For high-end decorative art pieces in sterling silver
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Elecon investing Rs 100 cr in windmill gearbox facility
Expanding capacity in material handling equipment, gear divisions
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Rane Group set to build unit at Singur
Move to support Tata’s Nano production
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OVERSEAS INVESTMENTS
Coal Ventures completes due diligence of 2 Mozambique blocks
Global investment banker to be appointed soon
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ALLIANCES & JOINT VENTURES
HPCL, GITAM sign MoU
The Hindustan Petroleum Corporation Ltd and GITAM University here signed a memorandum of understanding on Monday for disseminating knowledge and skills in human resource management. The two would involve themselves in development of curricula and ...
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Educomp, Ansal in alliance to set up schools
New Delhi, Feb 18 Aimed at addressing the twin needs of capacity building and improving quality in education, Educomp Solutions, an education service provider, has joined hands with real estate developer Ansal Properties and Infrastructure to ...
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PUBLIC OFFER
Ansal defers follow-on offer plan
New Delhi, Feb 18 Real estate major Ansal Properties & Infrastructure is understood to have deferred its proposed follow-on-public offer to raise about Rs 1,000 crore by couple of months due to volatile market conditions. The company is ...
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BONUS ANNOUNCEMENTS
Reliance Power gets a boost
The share price of Reliance Power surged 7.66 per cent on BSE following the company’s Sunday announcement of a bonus issue of shares to non-promoter shareholders. But investor enthusiasm still couldn’t carry it past the original ...
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OUTLOOK
Mahindra plans venture with Italian firm for underwater systems
Tata allies with Thales for optronic solutions
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Sanyo India sets Rs 150-cr sales target
Sanyo India has set a sales target of Rs 150 crore for its commercial business during 2008-09 even as it plans to start manufacturing batteries for mobile phones and for laptops.Sanyo India President, Mr K. Oshima, told More
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