The Hindu Business Line : Tuesday, May 06, 2008

ANNOUNCEMENTS
Work resumes at Hero Honda plant
“Normalcy has been restored at our Dharuhera plant following a mutually amicable resolution of certain concerns raised by some contract labourers due to instigation by external elements,” the company said in a statement. On ... More

DIVIDEND ANNOUNCEMENT
Kesoram Ind to pay 55%
Kolkata, May 5 Having recorded highest-ever profit in 2007-08, the board of directors of B.K. Birla Group company Kesoram Industries Ltd has recommended a dividend of 55 per cent (Rs 5.50 on shares of the face value of Rs 10 each) on the ... More

COMPANY LAW
Govt may retain powers to exempt LLP firms from audit requirements
Entrepreneurs, including budding small and medium entrepreneurs, opting for limited liability partnership (LLP) structure of business form could do so without any fears of high compliance costs. The proposed LLP law is likely to stipulate that ... More

IPR
Suven Life gets European patent
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MERGERS & ACQUISITIONS
Geojit to exit commodity business to clear hurdles for BNP takeover
Mumbai, May 5 BNP Paribas and Geojit Financial Services have worked out a plan to overcome the regulatory hurdle that has come in the way of the French banking group picking up the majority stake in the Kerala-based broking ... More

Serum Institute picks up 1% stake in Orchid Chem
Chennai, May 5 Serum Institute of India has picked up 6.3 lakh shares of Orchid Chemicals at an average price of Rs 249. It is around 1 per cent stake of Orchid’s March 31, 2008 equity base. The stock price of Orchid, which had ... More

Stage set for BHEL’s takeover of BHPV
Visakhapatnam, May 5 The stage is set for the long-awaited takeover of Bharat Heavy Plate and Vessels (BHPV) here by Bharat Heavy Electricals Ltd and in all probability, the decision of the Government may be announced at a function in BHPV ... More

NEW PROJECTS
Kesoram plans to raise tyre output capacity at Uttarakhand unit
Kesoram Industries has decided to further expand radial tyre production capacity by 100 tonne per day (tpd) and cross-ply or bias tyres by 125 tpd at its unit in Uttarakhand at an estimated cost of Rs 840 crore.The company board had ... More

Siemens may set up facility in AP
For manufacturing steam turbines, generators More

Videocon, Hansen among proposals okayed by TN
Chennai, May 5 A clutch of investments, including Rs 2,000 crore by the Videocon group, to manufacture consumer durables, and project proposals by a range of companies in automobile components, cement, wind energy and steel were among the ... More

OVERSEAS INVESTMENTS
India Inc will continue overseas M&A ride: Kamath
New Delhi, May 5 India Inc would continue to expand its overseas footprint in the coming years on the strength of its “competitiveness” and increased opportunities for global buyouts, the new Confederation of Indian Industry (CII) ... More

IMPACT
Patel’s move to expand overseas
Armed with technology to bid internationally More

ALLIANCES & JOINT VENTURES
IFFCO to form joint venture in Australia
In order to ensure assured raw material supply at a discount over market prices, IFFCO has finalised plans to set up a joint venture company in Australia for mining rock phosphate and supply it to its facilities in India.The ... More

GSK in pact with Japanese co
The antifungal market is seeing increasing activity in the local market. GlaxoSmithKline (GSK) Pharma said on Monday that it has entered into an agreement with Japan’s Astellas Pharma Inc for exclusive rights to sell the latter’s ... More

Volvo Car ties up with Mondial
Volvo Car India has tied up with international automotive service provider, Mondial Assistance to provide 24 hours professional roadside assistance to its customers. This would be to strengthen Volvo cars’ after sales services and customer ... More

DIVERSIFICATION
NDTV Imagine to enter movie production
Lumiere platform to launch its TV channel in June More

OUTLOOK
Sesa Goa moves to increase third party mining
More

JSW Steel scouting for more mines
Plans arm to focus on pre-engineered building structures More

Murugappa group plans Rs 1,300-cr capital spend
To renew thrust on rural retail, neutraceuticals, life sciences More