CORPORATE
RESEARCH & DEVELOPMENT
Piramal Life developing drug to tackle Glivec resistance
Phase II studies on dosage safety completed
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CORPORATE DISPUTES
RCom continues talks with MTN despite RIL objection
Mumbai, June 16 Anil Ambani-led Reliance Communications said it was continuing its exclusive talks with South African telecom major MTN, unperturbed by what it described as efforts of the estranged brother Mukesh Ambani’s Reliance ...
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DIVIDEND ANNOUNCEMENT
McNally Bharat PAT up 28% at Rs 22 cr
Kolkata, June 16 McNally Bharat Engineering Company Ltd, engineering turnkey project execution company, achieved a higher income of Rs 550.05 crore in 2007-08 compared with Rs 509.63 crore in 2006-07, an 8 per cent growth. The ...
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NCL Ind to pay 25% dividend
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NEW BUSINESS
NCC bags Rs 575-cr worth orders
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Era Infra gets Rs 65-cr contracts
Era Infra Engineering Ltd through their construction & contracts division has bagged contracts worth Rs 65.5 crore from Birla Tyres and Alps Industries. The company has executed contracts for the clients previously and has been awarded fresh ...
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NEW PROJECTS
Jain Energy, MP Govt sign pact
Kolkata-based Jain Energy Ltd has entered into an MoU with Madhya Pradesh for setting up a 1,000-MW coal-based power plant in Shadol district. According to a company press release, the project would require an estimated investment of Rs 5,000 ...
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Continental Carbon to invest Rs 1,000 cr in Vizag factory
Will have capacity to produce 3 lakh tonnes of carbon black a year
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OVERSEAS INVESTMENTS
JSW Steel to set up $42-m greenfield project in Georgia
In pact with UK co; project likely to be on stream in 2008-09
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Elgi Equipments sets up arm in Sharjah trade zone
Coimbatore, June 16 The Rs 500-cr Elgi Equipments Ltd (EEL) has set up a subsidiary — Elgi Gulf FZE — at the Sharjah Airport International Free Zone in UAE.The Coimbatore-headquartered industrial air compressor manufacturing ...
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REGULATORY BODIES & RULINGS
Zydus launches anti-depressant in US
Cadila Healthcare Ltd (Zydus Cadila) on Monday announced the first day launch of Venlafaxine Hydrochloride tablets upon receiving the final approval from the US Food and Drug Administration (USFDA). The company is marketing the product in the ...
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ALLIANCES & JOINT VENTURES
Shell-MRPL venture to supply ATF to Jet
Mangalore, June 16 Shell-MRPL (Mangalore Refinery and Petrochemicals Ltd) Aviation Fuels and Services Pvt Ltd (a 50:50 joint venture company between Shell and MRPL) has signed a two-year contract to supply aviation turbine fuel (ATF) to Jet ...
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Lehman Brothers to pump in Rs 740 cr in Unitech realty project
Project located on the Western Expressway of Mumbai
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Tata Steel in pact with Jasper Ind
Tata Steel Ltd and its wholly owned subsidiary Rawmet Ferrous Industries Ltd have entered into a Share Subscription Agreement and Shareholders’ Agreement with Jasper Industries Pvt Ltd to set up a coal-based power plant of 2 X 67.5 MW at ...
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Fiat arm Magneti Marelli partners with Endurance for shock absorbers
New Delhi, June 16 Fiat Group’s €5-billion company Magneti Marelli has entered into a joint venture with the auto component company Endurance Technologies to produce shock absorbers for four-wheelers in India and Thailand. ...
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DIVERSIFICATION
MAN Industries plans to diversify into realty
Focus to be on Mumbai, Navi Mumbai, Indore
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OUTLOOK
GSPC applies for commerciality of KG block discoveries
Kolkata, June 16 Gujarat State Petroleum Corporation (GSPC) has applied to the Directorate General of Hydrocarbons (DGH) for declaration of commerciality of its discoveries in the KG basin block. According to the application submitted ...
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PERFORMANCE
It costs Cairn India just $4.50 to produce a barrel of oil
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