The Hindu Business Line : Friday, December 12, 2008

CORPORATE

COURTS/LEGAL ISSUES: Reliance-RNRL case: Govt withdraws 4 affidavits
Stand on pricing of KG gas unchanged, says Govt. Mumbai, Dec. 11 The Union Government’s stand on the pricing of gas from Reliance Industries’ KG basin at $4.20 per mmbtu remains unchanged, said the Additional Solicitor General, Mr ...

OUTSOURCING: Global auto majors accelerate pace of sourcing components from India
New Delhi, Dec. 11 The cost pressures building up for global auto companies during the current economic slowdown could well be an advantage for India. Those who have been using the country as their component sourcing base say that they will ...

NEW PROJECTS: Progress in ongoing steel projects coming to a halt
New Delhi, Dec. 11 The big players of the Indian steel industry appear to have virtually given up on their target to achieve a combined capacity of over 85 million tonnes (mt) of finished steel by ...

OUTLOOK: MRPL 3rd phase to be delayed by 15 months
Cost of project will go up by Rs 4,469 cr. Mangalore, Dec. 11 The phase III expansion project of Mangalore Refinery and Petrochemicals Ltd (MRPL) will now cost Rs 4,469 crore more and will be delayed by 15 ...

CORPORATE DISPUTES: Heinz waves study report to prove ‘superiority’ over Horlicks
Mumbai, Dec. 11 Taking the malted drinks battle between Horlicks and Complan to the next level, Heinz, the makers of Complan, has conducted an independent research to prove the superiority of its brand over Horlicks to justify its ...

TRAVEL & PLACES: Corporates travel light
Companies turn to consultants for streamlining travel budgets. New corporate travel policies, travel consolidation and stringent travel budgets will dominate the year 2009 at most corporates. According to a recent report based on client activity ...

ALLIANCES & JOINT VENTURES: Rlys, GVK Power sign pact for coal transportation
...

OVERSEAS INVESTMENTS: Infosys BPO opens 2nd centre in China
Infosys BPO Ltd, the business process outsourcing subsidiary of Infosys Technologies, opened its second delivery centre in Hangzhou, China. The new centre was inaugurated by Mr Amitabh Chaudhry CEO and Managing Director, Infosys BPO and Mr ...

ANNOUNCEMENTS: AP Paper slashes prices
Andhra Pradesh Paper Mills Ltd has announced that it would pass on the Cenvat rate cut benefit to its customers in line with the Central Government announcement. As a result, the rate of Andhra Paper products will now be cheaper by up to Rs 2,000 ...

OUTLOOK: Bharat Forge seeks Centre’s help in bulk bidding for supercritical equipment
Mumbai, Dec. 11 The Rs 4,700-crore Bharat Forge, which recently announced its entry into the power equipment arena with Alstom of Europe, is seeking the Centre’s intervention to ensure that the process of bulk bidding for ...

OUTLOOK: HPCL Kolkata gas supply plan hits hurdle
Kolkata, Dec. 11 Hindustan Petroleum Corporation Ltd’s (HPCL) plans to enter the city gas distribution in Kolkata through acquisition of controlling stake in State government controlled Greater Calcutta Gas Supply Company (GCGSC) and ...

NEW PROJECTS: Marg to invest Rs 108 cr in Bijapur airport project
Mumbai, Dec. 11 Marg, a Chennai-based company engaged in infrastructure development, said on Thursday it plans invest Rs 108 crore in the Bijapur airport project to begin with and is looking for a strategic partner for the same. The ...

MANAGEMENT: Suzlon Energy reallocates top management roles
Pune, Dec. 11 Wind turbine maker Suzlon Energy Ltd has announced a reallocation of responsibilities at the top management level, with the responsibilities of the CEO distributed between the offices of the Chairman and Managing Director, Mr ...

ANNOUNCEMENTS: M&M’s farm equipment unit to cut production
In line with depressed market demand for tractors. Mumbai, Dec. 11 Following Mahindra & Mahindra’s automotive division, its farm equipment division is also cutting down production due to the slowing ...

RESTRUCTURING: Zandu board recast: first AGM tomorrow
Kolkata, Dec. 11 Zandu Pharmaceutical Works Ltd, now a subsidiary of Emami Ltd, will have its first annual general meeting after the acquisition on December ...

ALLIANCES & JOINT VENTURES: Shyam group, Century Ply join hands to build port near Puri
The Kolkata-based Shyam Group has joined hands with another local company Century Plyboards India Ltd and floated Puri Ports Ltd to launch a port at Baliharchandi, about 40 km from Puri ...

OUTLOOK: OVL, partners submit feasibility report on Farsi
ONGC Videsh Ltd (OVL) and its consortium partners have submitted the feasibility report to develop the oil field in Farsi Block in offshore Iran. This was stated by the Minister of State for Petroleum and Natural Gas, Mr Dinsha Patel, in ...

TRADE & LABOUR UNIONS: Indefinite lockout at Bosch Jaipur plant
Bangalore, Dec. 11 Auto parts maker Bosch Ltd has imposed an “indefinite lockout of all workmen from the plant operations” at its Jaipur plant ...

ANNOUNCEMENTS: Škoda India cuts prices
Pune, Dec. 11 Škoda India has announced price cuts across all the models due to the reduction of excise duty by the Government. The new prices, which are between Rs 12,500 and Rs 51,000 lower, will be effective from December 11. — ...

ANNOUNCEMENTS: TVS Motor’s new launch
TVS Motor Company has announced the launch of its premium segment motorcycle the Apache RTR 160 RD with factory fitted 200mm rear petal disc brake. A press release from the company said with rear disc brake Apache would have better ...

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Markets (Dec 11)

Nifty (at close)	2920.15(-8.10)
US Dollar (Buy/Sell)	48.55/56
Brent crude (a bbl) Rs	2,015
Gold (a gram) Rs	1,182
Silver (a kg) Rs	17,640

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