The Hindu Business Line : Thursday, July 31, 2008

CORPORATE

MERGERS & ACQUISITIONS: M&M to drive Kinetic 2-wheeler
Kinetic to get Rs 110 cr cash and 20% stake in new venture Mahindra Kinetic. Mumbai, July 30 Ending months of speculations about its entry into the two-wheeler sector, utility vehicles and tractor major Mahindra & Mahindra on Wednesday ...

OUTLOOK: Accor India to enter new areas in loyalty benefit schemes
New Delhi, July 30 Accor Services India, a company engaged in employee benefits and loyalty solution, is eyeing acquisition to strengthen its presence in the country. ...

MERGERS & ACQUISITIONS: Assets sale, the smartest thing to do for Kinetic
Two-wheelers will still be a tough sell for the joint venture. Chennai, July 30 During the heydays of its joint venture with Honda of Japan, Kinetic had benefited from its strong brand association with scooters and scooterettes. Ever since the ...

PEOPLE: Indraprastha Gas has new MD
Mr Rajesh Vedvyas has taken over as Managing Director of Indraprastha Gas Ltd (IGL), the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the capital. According to a press release issued by the company, Mr Vedvyas took ...

DIVERSIFICATION: Sree Ramcides enters FMCG sector

NEW BUSINESS: Sunil Mantri Realty signs pact for 2,000-acre city
Mumbai, July 30 Mumbai-based developer Sunil Mantri Realty Ltd has signed a memorandum of understanding with the Special Area Development Authority (SADA) of Gwalior to develop a hi-tech city on 2,000 acres ...

COURTS/LEGAL ISSUES: Fertiliser units entitled to total duty exemption: HC
Imported steam turbine. Chennai, July 30 The Madras High Court has held that Coimbatore Pioneer Fertilizers Ltd is entitled to total exemption from payment of customs duty on imported steam turbine, and directed the Union Ministry of Chemicals ...

NEW BUSINESS: CESC signs pact with Bihar Govt for 2,000 MW power plant
Kolkata, July 30 CESC Ltd has entered into a memorandum of understanding with the Government of Bihar to set up a 2,000-MW power plant in the State’s Bhagalpur district at an investment of Rs 10,000 crore, according to Mr Sanjiv Goenka, ...

OUTLOOK: Britannia to invest Rs 100 cr in biscuit units
Britannia Industries Ltd will invest nearly Rs 100 crore at its biscuit manufacturing units across the country this year, according to its Chairman, Mr Nusli N. ...

NEW PROJECTS: Firestone TVS opens air spring unit
Chennai, July 30 Firestone TVS Private Ltd (FTPL), a joint venture between US-based Firestone Industrial Products Company and Sundaram Industries of the $ 4-illion TVS Group, on Wednesday inaugurated its air spring manufacturing facility ...

OUTLOOK: McLeod hopes to become debt-free soon
Kolkata, July 30 McLeod Russel India Ltd hopes to become a debt-free company within the next two years, according to Mr Aditya Khaitan, Managing Director of the ...

MERGERS & ACQUISITIONS: Kinetic Motor Company: Milestones
1984: Pune-based Kinetic group enters into a collaboration with Honda Motor Co of Japan and forms Kinetic Honda Motor Ltd, to make gearless ...

EVENTS: Closer look

MERGERS & ACQUISITIONS: Lupin acquires Hormosan of Germany
Mumbai, July 30 Lupin Ltd has acquired Germany’s Hormosan Pharma GmbH, a sales and marketing generics company that specialises in supplying Central Nervous System (CNS) medicines, at an undisclosed ...

NEW BUSINESS: ABB bags Rs 455-cr Vedanta order
Bangalore, July 30 ABB India has bagged an order worth Rs 455 crore for power, automation systems from Vedanta Aluminium Ltd for the expansion of their aluminium smelter plant at Jharsuguda in ...

COURTS/LEGAL ISSUES: Pune-based promoters win legal battle with German co
Pune, July 30 Two Pune-based promoters have won a legal battle with German company Putzmeister AG, with the Delhi High Court ruling that the latter violated Press Notes 1 and 3 of the Union Government when it set up Dynajet Machinery India Pvt ...

EVENTS: Biz quiz for corporates begins on Aug 3
Coimbatore, July 30 The fifth edition of the business quiz for corporates – ‘Tata Crucible – The Business Quiz 2008’ is expected to begin here on August ...

STANDARDS & BENCHMARKS: ‘Indian companies more quality-conscious now’
Visakhapatnam, July 30 Indian companies are more quality-conscious now than ever in the past and, more importantly, even the small and medium industries and businesses are adopting the business excellence model developed by the Confederation ...

ALLIANCES & JOINT VENTURES: Uppal Group joins hands with Marriott International
New Delhi, July 30 Real estate developer The Uppal Group has announced a tie-up with Marriott International to manage and operate its new 5-Star hotels, one in Gurgaon and the other near Chandigarh, entailing total investment of about Rs 500 ...

NEW BUSINESS: HCC bags Pranahitha, Chevella lift irrigation contract
Hyderabad, July 30 HCC (Hindustan Construction Company), in joint venture with SEW Infrastructures Ltd and Megha Engineering and Infrastructures Ltd (MEIL) has bagged a contract of Pranahitha-Chevella Lift Irrigation Scheme, Package – ...

MERGERS & ACQUISITIONS: Delay and dispute in M&A deals
Price adjustment for change in assumed fundamentals of the business is a common reason for disputes during M&A. However, instead of using financial statements as a reference to net assets, the adjustment may be based on certain key value drivers he business..

PERFORMANCE: New airport assets add to revenues for GMR Infra
Concerns remain in power portfolio. Strong revenue contribution from the newly-added airports and increased plant load factor in the power division accelerated the topline growth of GMR Infrastructure for the quarter ended June 2008. The net ...