CORPORATE
ANNOUNCEMENTS
Mahindra to launch gas-run tractors
Mumbai, May 2 Mahindra Tractors is launching a slew of new models, including variants that can be run on alternative fuels such as CNG and LPG. According to company officials, tests are currently on and if everything goes well, a ...
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Hero Electric plans to cut prices
Ahmedabad, May 2 With the State Governments beginning to encourage the eco-friendly and economic electric vehicle segment with subsidies, Hero Electric, makers of electric scooters, is planning to reduce prices of its products. The ...
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Parsvnath to build luxury mall in New Delhi
New Delhi, May 2 Parsvnath Developers Ltd (PDL) has acquired an 1.18 acre plot in Connaught Place (Delhi) for Rs 200 crore to build a new luxury mall complex with office space. The land has been acquired from Mahajan Industries.The ...
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OUTSOURCING
Renault-Nissan may source €300-m worth components
Production in India to begin by 2010
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AWARDS & HONOURS
PowerGrid gets Navratna status
The Government has granted the ‘Navratna’ status to Power Grid Corporation of India Ltd (PGCIL). With the grant of the new status, the board of PGCIL will be empowered to take decisions on investments up to Rs 1,000 crore, or 15 per ...
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MERGERS & ACQUISITIONS
Essar Steel consolidates presence in N. America
It had earlier acquired Algoma and Minnesota Steel
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NEW PROJECTS
There’s a spoke in the wheel at emerging auto-hub Chakan
The Maharashtra Government has been sitting on giving the final go-ahead for acquiring around 1,400 hectares of land at India’s own motor city Chakan for nearly a year, causing severe embarrassment to Maharashtra Industrial Development ...
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Coastal Energen plans thermal power project near Tuticorin
Chennai, May 2 Coastal Energen Private Ltd (CEPL) intends to put up a 2,000-MW thermal power project near Tuticorin at an investment of Rs 8,500 crore, the company’s President and CEO, Mr Ahmed Buhari, told a press conference here on ...
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MRF’s new unit to help double radial tyre capacity
Company investing Rs 900 cr in greenfield facility
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OVERSEAS INVESTMENTS
Berger Paints Goa plant to go on stream by June
Kolkata, May 2 The proposed acquisition of Bolix SA in Poland, at a cost of Rs 155 crore, marks the end of a string of capital expenditure commitments for Berger Paints India for the time being. According to Mr Subir Bose, Managing ...
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BEML opens Shanghai sourcing base
Bangalore, May 2 BEML Ltd has launched its Chinese base to source low-cost components as well as to market its own equipment in the region. The Shanghai sourcing and marketing office will be a launch pad to market BEML’s high-end mining ...
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OUTLOOK
Brand perception – Hyundai’s main worry
Company wants to drive-in message of higher dependency ratio, lower defects
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Skoda to drive New Superb into India next year
Plans to launch a new car every year
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PERFORMANCE
Mahindra sales up 56% in April
Auto major Mahindra & Mahindra clocked 19,392 units in the domestic market in April against 12,235 in the year-ago period. The company announced that sales, including exports, grew by an approximate 56 per cent in April with total sales of ...
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PEOPLE
Bilcare advisory board members
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