CORPORATE
ANNOUNCEMENTS
PFC floats subsidiary for consultancy services
New Delhi, March 31 Power Finance Corporation (PFC) on Monday announced the launch of a wholly-owned consulting arm. The new subsidiary, PFC Consulting Ltd, would offer consultancy services in the power sector and related areas, including in ...
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Cipla bringing in Novartis’ iron-overload drug
Will be sold locally at a fraction of its global price
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Hyundai’s free car care clinic
Mumbai, March 31 Hyundai Motor India (HMI) launched a nationwide free Car Care Clinic. This will be a two-week long campaign starting from April 2 to 14, at over 350 Hyundai dealer workshops across the country. The company plans to ...
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MSP Steel gets M.P. licence
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Sun Pharma launches cancer-related drug in US
Mumbai, March 31 Sun Pharmaceutical Industries Ltd has launched its generic version of Amifostine Injection 500 mg in the US. Generic Amifostine is therapeutically equivalent to Medlmmune’s Ethyol, a medicine used as an adjunct to ...
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BUYBACK
Prithvi defers buy-back
Prithvi Information Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held here on Monday, to consider buy back of equity shares of the company, decided to defer the matter after preliminary discussions. ...
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ACCOUNTING STANDARDS
ICAI removes doubts on accounting for foreign currency derivatives
New Delhi, March 31 The Institute of Chartered Accountants of India (ICAI) on Monday made it clear that its recent announcement on accounting for foreign currency derivative exposures was “not a new accounting norm” to be adhered ...
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ICAI’s move on derivatives aims at transparency in turbulent times
Chennai, March 31 How do you measure something that is yet to be realised? Difficult, but that’s what the Institute of Chartered Accountants of India (ICAI), the body that seeks to regulate the profession of accountancy in India, has ...
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CORPORATE DISPUTES
Birlas’ case: SC upholds HC order
Kolkata, March 31 The Supreme Court on Monday upheld the order of the Calcutta High Court, which in December 2006 had observed that Mr K.K. Birla, Mr B.K. Birla and Mr Y. Birla have no caveatable interest in the will of late Ms Priyamvada Devi ...
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NEW BUSINESS
L&T bags Rs 576-cr HPCL order
Mumbai, March 31 Engineering and construction company Larsen & Toubro has been awarded a Rs 576-crore order for a 2-lakh-tonne per annum lube oil base stock plant by Hindustan Petroleum Corporation Ltd. The plant will consist of a ...
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BHEL bags Rs 550-cr export order
New Delhi, March 31 Equipment major Bharat Heavy Electricals Ltd (BHEL) announced on Monday that it has bagged a Rs 550-crore export order for supply of boilers. The order has been received from Koniambo Nickel SAS, an overseas joint ...
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LoI for Kirloskar Bros
Kirloskar Brothers Ltd has received a letter of intent from the Government of Andhra Pradesh, Irrigation & CAD Department in respect of Rajiv Sagar Lift Irrigation Project (Dummugudem) for construction of main pumping station at Pamulapally ...
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Games contract for Era Infra
Era Infra Engineering Ltd has secured a Rs 20 crore order for supply of ready mix concrete to Commonwealth Games village, New Delhi. The contract is for supply of about 50,000 cum of RMC from Era’s RMC division plant at Sahibabad, which has ...
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Punj Lloyd gets Italy order
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GENDER
Dr Reddy’s turns ‘women-friendly’
Women staff to get flexi hours, working from home options
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IPR
Suven Life bags two patents in Mexico, Korea
Suven Life Sciences Ltd has secured product patents in Mexico and Korea for two of its new chemical entities (NCEs). These NCEs are developed for the treatment of disorders associated with neurodegenerative diseases. “We ...
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MERGERS & ACQUISITIONS
Calcutta High Court directive to Coal India
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NEW PROJECTS
Tatas, M&M investing Rs 7,500 cr in Maharashtra
Mumbai, March 31 Maharashtra on Monday shifted to a faster lane in its drive to drum up big-ticket private investments in the automobile sector.Leading vehicle makers Tata Motors and Mahindra & Mahindra separately pledged to invest ...
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NTPC plans geo-thermal projects
Power major NTPC Ltd announced on Monday that it plans to set up a geo thermal-based power project in Chhattisgarh in association with National Geo-physical Research Institute. Geo-thermal power projects essentially use up heat underneath the ...
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OVERSEAS INVESTMENTS
GMR in race for 50% stake in InterGen of US
Hyderabad/Chennai, March 31 The GMR group is in the race for a 50 per cent stake in InterGen, a US-based power company with plants in five countries, according to reliable sources.The group’s first stage of submitting a ...
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ONGC-Mittal overseas trading venture benched
Selection of new CEO gets priority
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Country Club acquiring properties in Dubai, Bangkok
Chennai, March 31 Hyderabad-based Country Club India Ltd is all set to expand its horizon through acquisition of properties in Dubai and Bangkok. People close to the deal told Business Line that Country Club is in ...
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TRADE & LABOUR UNIONS
BHPV staff seek wage revision
Visakhapatnam, March 31 The employees and officials of the Bharat Heavy Plate and Vessels (BHPV) here have urged the Union Heavy Industries Ministry to effect wage revision immediately in view of the increased cost of living and as they have ...
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ALLIANCES & JOINT VENTURES
HPCL, Vizag port sign MoU
Visakhapatnam, March 31 The Visakhapatnam port and HPCL on Monday signed a memorandum of understanding (valid for 30 years) relating to certain commercial terms and conditions, according to a press release issued by the port.According ...
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India Infoline broking arm ties up with US firm
Mumbai, March 31 The institutional broking arm of India Infoline, IIFL, on Monday announced that it has partnered with Auerbach Grayson & Company Inc, a New York-based brokerage firm to allow US investors access to invest in the ...
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Godrej Agrovet, Future group co tie up
Godrej Agrovet Ltd and Future Ventures India Ltd announced on Monday that they have entered into a joint venture agreement for rural retailing. Future Ventures India Ltd, a Future Group company, will own a 70 per cent stake in Aadhaar Retailing ...
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IMPACT
Auerbach tie-up positive for India Infoline
Institutional clients may help diversify revenues
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EVENTS
Alembic turns 100; eyes Rs 2,000-cr turnover in 4 years
Celebrating its centenary, the country’s oldest pharmaceutical company, Alembic Ltd, on Monday announced to double its turnover to Rs 2,000 crore in the next four years.The former President of India, Mr A.P.J. Abdul Kalam, was the ...
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India should produce 40% of world’s generic drugs, says Kalam
Vadodara, March 31 The former President of India, Mr A.P.J. Abdul Kalam, on Monday emphasised the need for India to contribute 40 per cent of the world’s generic drug production and focus on eradication of diseases such as malaria and ...
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SOCIETY & DEVELOPMENT
SAIL donates mobile medical unit
The Union External Affairs Minister, Mr Pranab Mukherjee, has dedicated to the people of Jangipur hospital equipment and a mobile medical unit donated by SAIL. He has also inaugurated a SAIL tubewell project at Mondalsar village in Khargram block ...
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STANDARDS & BENCHMARKS
Sun Pharma’s US arm asked to recall batches of diabetes drug
Mumbai, March 31 Sun Pharma’s US-based subsidiary Caraco has been asked by the US regulatory authority to withdraw batches of generic metformin tablets, used to treat diabetes, on grounds of efficacy. The Class II recall of seven ...
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OUTLOOK
EIH Ltd bets on the ‘Trident’ brand
Mumbai, March 31 One of the oldest and leading Indian hospitality major EIH Ltd - the operators of The Oberoi Group is in for a change. After terminating its strategic alliance for marketing and co-branding with Hilton International ...
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GEI hopes for higher turnover
The Bhopal-based GEI Industrial Systems Ltd expects to cross Rs 500-crore mark in turnover by 2011-12. The Chairman and Managing Director of GISL, Mr C E Fernandes, told Business Line that the company has been growing at 65 per cent ...
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PEOPLE
Sumantran joins Hinduja Auto
Chennai, March 31 Former Executive Director of Tata Motors (passenger car business unit), Dr V. Sumantran, has joined the recently-formed Hinduja Automotive UK as its Executive Vice- Chairman. Hinduja Automotive UK is the holding company of ...
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