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CORPORATE
OUTLOOK:
Hyundai puts off bus plans as slowdown bites
Co had signed technical pact with Caparo to manufacture buses. Chennai, Dec 10 South Korea’s biggest automaker Hyundai Motor Company announced today that it is suspending its plans to sell buses in ...
OVERSEAS INVESTMENTS:
ONGC Videsh may look at domestic market to part-fund Imperial acquisition
New Delhi, Dec. 10 The lean global credit scenario may compel ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, to look at the domestic market to partly fund its £1.4-billion (about $ 2.07 billion) acquisition of ...
OUTLOOK:
No change in India investment plans: Toyota
Company reviewing investments in global projects. Chennai, Dec. 10 Toyota Motor Corporation is reviewing all its proposed capex investments — except its plans for a second plant in ...
ANNOUNCEMENTS:
Madras Aluminium suspends production
Company’s captive power unit to continue power sale. Mumbai, Dec. 10 Following the sharp fall in aluminium prices, Madras Aluminium, a Vedanta Group company, has decided to suspend production with immediate effect ...
OUTLOOK:
GMR Group upbeat on road projects
GMR Group, a major player in the infrastructure sector, is bullish on several road projects and plans to make fresh investments in projects worth over Rs 2,000 to Rs 2,500 crore during the next two ...
OUTLOOK:
Elder Pharma to ink two more nutraceutical deals
Mumbai, Dec. 10 With three nutraceutical-related deals in its kitty this year, Elder Pharmaceuticals is set to forge two more in-licensing deals in the same segment, ...
NEW PROJECTS:
Megamedia sets up high-end film post-production facility
Kochi, Dec. 10 Megamedia Films & Studios, a leading name in film and video post-production with the modern facilities in West Asia, has set up a high-end film-video post-production facility ...
ANNOUNCEMENTS:
M&M starts production of Xylo
Utlity vehicle major Mahindra & Mahindra has commenced production of its multi-purpose vehicle ‘Xylo’. The Xylo, which is set for its national unveiling on January 13, 2009, is being manufactured at Mahindra’s facility ...
MERGERS & ACQUISITIONS:
GMR Holdings hikes stake in group company
Bangalore, Dec. 10 GMR Holdings Pvt Ltd (GHPL), promoter and holding company of GMR Infrastructure Ltd, on Wednesday announced that it has purchased an aggregate of 23.7 lakh equity shares of Rs 2 each in three tranches early this month, as ...
NEW PROJECTS:
370 MW Vemagiri goes on stream with diverted gas
Hyderabad, Dec. 10 GMR Infrastructure Ltd has informed the BSE that Vemagiri Power Generation Ltd (VPGL) with installed capacity of 370 MW has commenced power generation with gas diverted from other plants in ...
OUTLOOK:
Modine to supply radiators to Leyland’s AVIA
Chennai, Dec. 10 Powertrain components maker Modine Manufacturing Company India Private Ltd, the wholly owned subsidiary of the US-based $1.8-billion Modine Manufacturing Company, will, beginning today, supply to AVIA, a Czech company now ...
NEW PROJECTS:
Work on steel, power plants on track, says Shyam Group
Kolkata, Dec. 10 The Rs 2,650-crore Shyam Group has said that work on the Rs 2,000-crore first phase of the Rs 9,900-crore integrated steel and power plants in Jamuria in West Bengal, being implemented by Shyam Sel & Power Ltd, a ...
OVERSEAS BORROWINGS:
Reliance signs $400-m financing facility with JP Morgan
Mumbai, Dec. 10 Reliance Industries Ltd has signed a $400-million (nearly Rs 2,000 crore) financing facility with global financial services firm JP Morgan for its capital expenditure ...
ANNOUNCEMENTS:
Dr Reddy’s Betapharm gets 8 drug contracts in Germany
Hyderabad, Dec. 10 Dr Reddy’s Laboratories on Wednesday announced that Betapharm AG, its wholly-owned subsidiary, has been tentatively offered eight products in different regions of Germany covering the AOK-insured ...
ANNOUNCEMENTS:
Tata Motors cuts prices
Mumbai, Dec. 10 Tata Motors on Wednesday announced the range of price cuts for passenger cars, utility vehicles and commercial vehicles following the four per cent reduction in Cenvat. The price cut in passenger car ranges from Rs 12,000 to ...
ANNOUNCEMENTS:
Esab to shut on Saturdays
Chennai, Dec 10 Esab India Ltd, the welding and cutting products manufacturer, has decided to shut down on Saturdays to cut ...
AWARDS & HONOURS:
Award for Sterlite
Madurai, Dec. 10 Sterlite Industries (I) Ltd (SIIL) has bagged the Corporate Super Platinum Award at the India Manufacturing Excellence Awards 2008, according to a press release. — ...
OUTLOOK:
Domestic demand for aluminium could soften
Automobile sector accounts for 37% of consumption. Madras Aluminium Co’s decision to suspend production in response to falling prices makes it the first domestic aluminium producer to announce production ...
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