The Hindu Business Line : Wednesday, November 12, 2008

CORPORATE

OUTLOOK: RIL treads cautiously on restarting fuel retail biz
Waiting for a level playing field between pvt cos and PSUs. New Delhi, Nov. 11 Reliance Industries Ltd (RIL) will continue to tread cautiously on domestic retail fuel business. This is inspite of the softening of global crude ...

DIVERSIFICATION: Reliance Infra to enter steel plant construction biz
Tie-up with Chinese major for technology to set up units. Mumbai, Nov. 11 The Anil Ambani-controlled Reliance Infrastructure is set to expand its engineering and construction business in India by getting into construction of steel plants through ...

CREDIT RATING: Fitch revises Tata Steel outlook to ‘negative’
Mumbai, Nov. 11 Global rating agency Fitch Ratings has revised Tata Steel Ltd (TSL) and Tata Steel UK Ltd’s (TSUK) outlook to negative from ...

OVERSEAS INVESTMENTS: Ringfeder sets up India office
Mechanical power transmission equipment major Ringfeder Power Transmission GmbH, part of the VBG Group of Germany, has set up shop in Chennai under the name – Ringfeder Power Transmission India Pvt Ltd. The company manufactures products ...

ALLIANCES & JOINT VENTURES: ONGC, UCIL ink agreement
Oil and Natural Gas Corporation Ltd (ONGC) has signed an MoU with Uranium Corporation of India Ltd (UCIL) for joint cooperation in uranium exploration and development. The initiative is based on complementary expertise of the two public ...

MERGERS & ACQUISITIONS: Cadila Healthcare acquires Italian research company Etna Biotech
Ahmedabad, Nov. 11 Pharmaceutical major Cadila Healthcare Ltd (Zydus Cadila) on Tuesday announced the acquisition of Etna Biotech, a wholly owned Italian subsidiary of the Dutch bio-pharma company, Crucell N.V., for an ...

NEW PROJECTS: Force Motors may rework terms of ZF licence
Pune, Nov. 11 Pune-based commercial vehicle manufacturer, Force Motors Ltd (FML) has agreed to reduce the term of a licence granted by ZF Friedrichshafen AG to manufacture its 9-speed gear box. This is to facilitate manufacture of the ...

NEW PROJECTS: ‘Nano to cost Rs 30,000 cr to Gujarat exchequer’
The Rs 2,200-crore Nano project in Gujarat, including Rs 700 crore worth of shifting cost from Singur to Sanand, could cost the State exchequer at least Rs 30,000 crore in the long run, the State Congress Party claimed here ...

PERFORMANCE: Japanese, Korean steel cos to pay more for NMDC lumps, fines
Hyderabad, Nov. 10 The National Mineral Development Corporation (NMDC) has secured a 96.5 per cent hike on its export price of iron ore lump and a 79.88 per cent increase for fines from the Japanese and Korean steel ...

BONUS ANNOUNCEMENTS: BSE board okays 12:1 bonus issue
Mumbai, Nov. 11 The board of directors of Bombay Stock Exchange have recommended a hefty bonus of 12 shares for every share held by shareholders, subject ...

CORPORATE BONDS: NTPC bond issue oversubscribed
Mumbai, Nov. 11 The Rs 500-crore bond issue of public sector major NTPC Ltd was oversubscribed by Rs 3,000 crore. The 10-year bond has an annualised yield of 11 per cent, which is lower by about 20-30 basis points as compared to other bonds ...

AWARDS & HONOURS: Sterlite bags `Excellence Award'
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TRADE & LABOUR UNIONS: Strike at Bosch's Jaipur plant
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CORPORATE DISPUTES: Oil Ministry official may be examined in RIL-RNRL case
Mumbai, Nov. 11 A secretary-level officer from the Union Ministry of Petroleum and Natural Gas could be cross-examined before the divisional bench of the Bombay High Court on Friday in the ongoing RIL versus RNRL gas ...

MERGERS & ACQUISITIONS: PMO rejects Rashtriya Ispat Nigam, NMDC merger proposal
Hyderabad, Nov. 11 The proposed merger of Rashtriya Ispat Nigam Ltd (RINL) and National Mineral Development Corporation (NMDC) has been rejected by the Prime Minister’s ...

OVERSEAS INVESTMENTS: ONGC Videsh to make final offer for Imperial in 28 days
New Delhi, Nov. 11 With last of the necessary approvals in place ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, is now ready to cover the last leg to acquire LSE-listed Imperial Energy Corp Plc. A senior official told ...

FIXED DEPOSITS: ABB looking at FDs to meet working capital needs
ABB is looking at various options, including corporate fixed deposits, to meet its working capital needs due to difficulty in the availability of ...

PERFORMANCE: Maharashtra Seamless proves it is ahead of peers
Order book now pegged at about Rs 1,370 crore. Maharashtra Seamless’s recent order win worth Rs 757 crore from ONGC for the supply of seamless casing pipes is likely to provide a significant thrust to its ...