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CORPORATE
OUTLOOK:
IOC to turn cash positive in Dec
Kerosene, LPG still a drag on profitability. Kolkata, Nov. 26 Thanks to profits generated on sale of diesel and petrol, after a long time, Indian Oil Corporation expects to turn cash positive in ...
OUTLOOK:
Aramco sees bigger role for India in oil sector
‘Inter-dependence is a point of strength’. New Delhi, Nov. 26 Even as Saudi Aramco has not made any investments in India, its President and CEO, Mr Abdallah S. Jum’ah, said that the company did make an attempt to forge an ...
OUTLOOK:
Continental to take a hit on lower supplies to Nano
Couple of ‘hard’ years ahead; co may ask staff to go on vacation. Bangalore, Nov. 26 Continental Automotive, a leading global auto component maker, has said that the revenue growth of its Indian operations will be hit because of the ...
OUTLOOK:
Suzuki hopes to buy out partner in bike venture
Will make Suzuki Motorcycles a 100% subsidiary. New Delhi, Nov. 26 Suzuki Motor Corporation is considering to buy the stake owned by Managing Director of Suzuki Motorcycles India Ltd (SMIPL), Mr Satya Sheel, in its Indian two-wheeler ...
NEW PROJECTS:
NLC tripped by land acquisition problems
Expansion of its Mine-II getting delayed. Chennai, Nov. 26 The heavy rains in the southern districts have caused flooding of the lignite mines of Neyveli Lignite Corporation. This has caused a practical stoppage of generation at the central ...
NEW PROJECTS:
Meghmani’s expansion plans on track
Cutting costs at all levels to combat meltdown; H1 turnover up at Rs 455 cr. Ahmedabad, Nov. 26 Amid a variety of problems being faced by chemicals manufacturing units across Gujarat due to the global economic meltdown, Meghmani Organics Ltd ...
MERGERS & ACQUISITIONS:
Sun Pharma buys US co Chattem Chemicals
Will strengthen presence in pain management segment. Mumbai, Nov. 26 Sun Pharmaceutical Industries Ltd has acquired Chattem Chemicals Inc, a US-based narcotic substances producer and importer, for an undisclosed ...
NEW PROJECTS:
Vascon Engineers unveils 2 ‘green’ projects
Covers residential, office spaces. Pune, Nov. 26 Pune-based Vascon Engineers has announced the launch of two projects in Baner — Willows, a blue-chip residential project, and Eco tower, an office complex — designed to be ...
EXPORTS & IMPORTS:
ECGC freeze main worry for GM’s Indian suppliers
Chennai, Nov. 26 India suppliers to General Motors who met in Chennai have resolved to stick on to schedule irrespective of eventualities. However, they worry about the Export Credit Guarantee Corporation (ECGC) that froze issue of fresh ...
MERGERS & ACQUISITIONS:
Centrum’s US office gets approval to operate as broker in NYSE
Group to work on domestic and international expansion plans. Mumbai, Nov. 26 The US office of the Centrum group has received regulatory approval to operate as a broker/dealer on New York Stock Exchange, the Indian company announced ...
OUTLOOK:
Fiat India looking at multiple fuel options
Mumbai, Nov. 26 Fiat India Automobile (Fial), which has kicked off its second innings through a joint venture with Tata Motors, is now looking at multiple fuel options in its ...
OVERSEAS INVESTMENTS:
Efforts on to speed up Tata Steel’s Vietnam project
The Indian official delegation accompanying the President, Ms Pratibha Patil, to Vietnam will in its meetings with the Vietnamese leadership in Hanoi seek to expedite the proposed Tata Steel project in Ha Tinh province that has reportedly hit ...
NEW PROJECTS:
PLG Power investing Rs 500 cr to make solar modules
Pune, Nov. 26 PLG Power Limited, the flagship energy and power division of the PLG Group, is investing Rs 500 crore to set-up a project at Sinnar near Nashik to manufacture Solar Photovoltaic ...
NEW PROJECTS:
Lodha group to invest Rs 900 cr in ‘Sky Villas’
Hyderabad, Nov. 26 The Lodha group has announced their plans to invest Rs 900 crore to create ‘Sky Villas’ on 45-floor high rise towers here to be sold on ...
MERGERS & ACQUISITIONS:
Corus sells stake in GrantRail
Tata Steel has said that its subsidiary Corus UK has sold its 50 per cent stake in GrantRail Group Ltd to VolkerWessels, its joint venture partner. The steel major informed the BSE that GrantRail Group offered rail infrastructure services and ...
ALLIANCES & JOINT VENTURES:
TNEB, BHEL jt venture pact
The Tamil Nadu Electricity Board and Bharat Heavy Electricals Ltd have signed a joint venture agreement to set up a 1,600-MW supercritical thermal power plant at Udankudi, Tuticorin. According to an official press release, the partners are in ...
ALLIANCES & JOINT VENTURES:
BPCL in money transfer tie-up
Bharat Petroleum Corporation Ltd has signed a MoU with Airwings Services Pvt Ltd an agent of MoneyGram International to offer international money transfer service in India from its select retail outlets. Moneygram now will have about 100 of ...
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