The Hindu Business Line : Wednesday, September 24, 2008

CORPORATE

STANDARDS & BENCHMARKS: Ranbaxy faces heat from more countries
Canada, Germany turn on the screws; shares dip 11%. New Delhi, Sept. 23 Shares of pharmaceutical major Ranbaxy Laboratories hit an 18-month low on Tuesday as health and drug authorities of countries such as Canada and Germany have now begun to ...

NEW PROJECTS: BPCL venture to invest Rs 2,200 cr in bio-diesel project
Mumbai, Sept. 23 Bharat Renewable Energy Ltd, the joint venture promoted by Bharat Petroleum Corporation Ltd (BPCL), would invest around Rs 2,200 crore to produce bio-diesel from ...

OVERSEAS BORROWINGS: Cos unlikely to take ECB route as spreads are high
Domestic credit seen more cost-competitive. Bangalore, Sept 23 With rising risk spreads domestic corporates are unlikely to access foreign currency funds, despite further liberalisation of external commercial borrowing (ECB) ...

CORPORATE DISPUTES: ‘Efforts to settle gas supply row with RIL were thwarted’
Anil Ambani takes dig at Petroleum Ministry. The ongoing row between the Ambani brothers once again resurfaced in public, at the Annual General Meeting of Reliance Natural Resources Ltd, where the Chairman, Mr. Anil Ambani, told his shareholders ...

NEW PROJECTS: Hyundai Const plans to make India export base
New Delhi, Sept. 23 Hyundai Construction Equipment India Pvt Ltd, a wholly owned subsidiary of the $ 20-billion Korea-based Hyundai Heavy Industries, on Tuesday said that it would make the country an export base to serve markets in South, ...

NEW PROJECTS: Reliance KG basin raises hopes of power and fertiliser firms
Hyderabad, Sept. 23 With Reliance Industries indicating natural gas production from the Krishna-Godavari basin in early 2009, there is hope and anticipation in industrial and power sector consumers ...

ANNOUNCEMENTS: Third shift at Hyundai Motors
Hyundai Motor India Ltd on Tuesday announced the start of its third shift of operations at its second plant at Sriperumbudur. A press release from the company said the decision to go for the third shift was in response to a continuing high ...

ALLIANCES & JOINT VENTURES: Tata Elxsi, Samtech arm in pact
Tata Elxsi, the embedded technology arm of the Tata Group, has signed a memorandum of understanding (MoU) with Open Engineering, the R&D subsidiary of the Belgium-headquartered Samtech Group, a provider of computer-aided engineering ...

NEW BUSINESS: Nagarjuna bags Rs 413-cr orders
Nagarjuna Construction Company Ltd has secured four new orders aggregating Rs 413 crore. The first order, valued at Rs 229 crore, is from Maharashtra State Electricity for supply and commissioning of sub-transmission lines, new substations and ...

RESTRUCTURING: Alok Industries spins off retail arm
Alok Industries, a vertically integrated textile company, has spun off its retail operations into a new subsidiary company under the name of Alok India Retail Ltd. Marking an investment of Rs 150 crore for expanding its H&A stores, the ...

ANNOUNCEMENTS: Change of name
Twenty-First Century Printers Ltd, a Rs 150-crore company that manufactures printed packaging materials mainly folding cartons, changed its name to TCPL Packaging Ltd, after all statutory approvals including shareholder approval at the ...

ANNOUNCEMENTS: KSK Energy achieves ‘financial closure’ for Chhattisgarh project
‘Lehman Brothers episode not to have any impact’. Hyderabad, Sept. 23 KSK Energy Ventures Ltd today announced it has achieved financial closure for its 1800 mw (3x600 mw) Chhattisgarh power plant being set up by its subsidiary ...

EVENTS: Nuclear projects: More policy changes needed
Dedicated team in place for foray: Anil Ambani. Mumbai, Sept. 23 For private sector investment in the nuclear arena the road ahead is long and it will take a minimum of eight to 10 years before the first private nuclear power project takes ...

STANDARDS & BENCHMARKS: Drugs supplied under US funded projects safe: Ranbaxy
New Delhi, Sept. 23 Ranbaxy Laboratories has said that all its medicines, including the AIDS drugs supplied to African countries under US government supported programmes, are safe and ...

ANNOUNCEMENTS: ‘Studio i’ launched in Bangalore
Gensler, Space Matrix team up. Bangalore, Sept. 23 Global architecture and design firm Gensler, based in San Francisco in the US, and Space Matrix, Singapore-based architecture and interior design firm, have launched Studio i, an architectural ...

TRADE & LABOUR UNIONS: Keeping vigil
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CORPORATE BONDS: Cos can issue exhangeable bonds in foreign currency
Mumbai, Sept 23 The Reserve Bank of India has announced the operational guidelines for Foreign Currency Exchangeable Bonds (FCEB), which will come into effect ...

PEOPLE: Jamna Auto appoints expats to expand overseas biz
New Delhi, Sept. 23 Component supplier, Jamna Auto Industries, is aiming to export around 20-25 per cent of its domestic production capacity, beginning next ...

NEW PROJECTS: Contractors asked to shift equipment from Tata Singur plant
Singur, Sept. 23 All contractors supplying construction equipment at the Tata Motors factory in Singur have been asked to shift their ...

ANNOUNCEMENTS: JLR reports a loss of $ 383 million
Mumbai, Sept. 23 Jaguar Land Rover had reported a loss of $383 million for the five-month period from January to June 1, 2008, said Tata Motors in its prospectus for the proposed rights issue scheduled to open on September ...

NEW PROJECTS: SAIL setting up steel processing unit in J&K
Kolkata, Sept. 23 In line with its strategy to meet the market demand for tailor-made steel products and to help increase per capita steel consumption in rural areas, Steel Authority of India Ltd (SAIL) is in the process of setting up ...

ANNOUNCEMENTS: M&M to unveil MUV on Ingenio platform
Hyderabad, Sept. 23 Mahindra & Mahindra, the utility vehicle major is poised to ‘shortly’ unveil its latest offering, a global multi utility vehicle (MUV) based on ...

NEW PROJECTS: Scorpio Automatic drives into Pune
Pune, Sept. 23 Mahindra and Mahindra on Monday launched the Scorpio Automatic, which has a fully automatic six-speed gear box and a 2.2 litre mHawk engine, ...

ESOPS: Dr Reddy's allots ADRs to staffers
The compensation committee of the board of directors of Dr Reddy's Laboratories Ltd has allotted 21,800 American Depository Receipts (ADRs) of Rs 5 each of the company to the US employees of the company who had exercised their ADR stock options. ...

SOCIETY & DEVELOPMENT: IIL’s gesture to flood-hit Bihar
Hyderabad, Sept. 23 Indian Immunological Ltd (IIL), an arm of National Dairy Development Board, has donated veterinary vaccines and healthcare products worth Rs 1 crore to the Department of Animal Husbandry, Bihar as part of its contribution ...

NEWSPAPERS & PUBLISHING: Clarification
With reference to the report ‘GQ to hit stands soon’ published in these columns on September 23, Vogue’s publisher has clarified that the magazine was launched with a print run of 50,000 copies and ...

NEW BUSINESS: Punj Lloyd bags $800 m order
Punj Lloyd has bagged a contract for engineering, procurement, installation, and commissioning of a 211-km pipeline project from Qatar Petroleum worth $800 million. A release said the company would undertake construction works for the gas ...

EVENTS: Management meet
F orum ’08, a South India management meet organised by Fisat Business School will be held here on Friday and Saturday. The two-day meet will be inaugurated by Prof. A.M. Salim, Member of the Board of Directors, Federal Bank. Mr ...

NEW BUSINESS: Indu Projects bags UP order
Indu Projects Ltd has secured an order worth Rs 310 crore from Uttar Pradesh Rajkiya Nirman Nigam Ltd. The order is for the construction of Manyawar Shri Kanshi Ramji Para Medical College in Jhansi, the Hyderabad-based company said in a release. ...

AWARDS & HONOURS: Aurobindo Pharma bags award
Aurobindo Pharma Ltd bagged the `Indiastar 2008’ award instituted by Indian Institute of Packaging to recognise excellence in packaging. The pack design of the company for its product cefpodoxime proxetil PFOS bagged the award, said a ...