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CORPORATE
CORPORATE GOVERNANCE:
Whither corporate governance?
Satyam Computer’s announcement of an acquisition, subsequently called off within a day, is not so much an example of aggrandising behaviour by the promoter group as a manifestation of cavalier attitude, bordering on contempt, of ...
MERGERS & ACQUISITIONS:
We’re well capitalised: Maytas Infra CFO
‘Most of the infrastructure projects executed with working capital’. Hyderabad, Dec. 17 “We are well capitalised and there is no fund crunch. All projects currently being executed are under control,” according to the ...
OUTLOOK:
Auto cos near Pune set to halt work in December
Around 20,000 people to get paid vacation. Pune, Dec. 17 With block closures the unfortunate flavour of the season, Pune could well become “ground zero-production” during and around Christmas ...
OUTLOOK:
M&M low-cost tractor to debut in June
Intended for use in small holdings. Mumbai, Dec. 17 Mahindra & Mahindra’s ultra low-cost tractor, tipped to be the ‘Nano version’ of tractors, is scheduled to be launched in June ...
ENVIRONMENT:
Surya Roshni to replace traditional bulbs with eco-friendly lamps
Hyderabad, Dec. 17 Surya Roshni Ltd has decided to reduce the production of traditional bulbs in a phased manner and replace it with more eco-friendly lamps due to increasing ...
NEW BUSINESS:
Astra Microwave bags ISRO deal
Astra Microwave Products Ltd has bagged an order of Rs 13.8 crore from Antrix Corporation Ltd, the commercial arm of the Department of Space. The Hyderabad-based provider of microwave wireless technologies for defence, space, and ...
AWARDS & HONOURS:
BEL bags excellence award
Bharat Electronics Ltd has received the first industry excellence award for 2008 from the Institution of Engineers (India), a company release said. It has also got the FIEO’s ‘Niryat Shree’ certificate of excellence for 2005-06 ...
REGULATORY BODIES & RULINGS:
USFDA nod for Aurobindo HIV drug
Aurobindo Pharma on Wednesday said it has received the US administration’s approval to manufacture and market the drug used for treatment of HIV infections. The company has received the tentative approval from US Food and Drug ...
ALLIANCES & JOINT VENTURES:
Tata Power, IOC in pact
Tata Power Company Ltd has signed a joint venture agreement with Indian Oil Corporation Ltd for establishing a coal-based power plant in Orissa. The joint venture will meet the captive requirement of IOCL Paradip refinery and petrochemicals ...
NEW BUSINESS:
Patel Engg bags irrigation project
Patel Engineering Ltd, a civil infrastructure construction company, has communicated to the NSE that it has bagged the single largest irrigation project in India – the Pranahita-Chevella Lift Irrigation-package 6- for Rs 3,859 crore from ...
ANNOUNCEMENTS:
Gammon project financial closure
Gammon Infrastructure Projects Ltd has informed that Indira Container Terminal Pvt. Ltd, the special purpose vehicle incorporated for developing the Mumbai Offshore Container Terminal Project, has achieved the financial closure for the project ...
CORPORATE BONDS:
Allahabad Bank invests in HCC arm
Hindustan Construction Company Ltd (HCC) has informed that Allahabad Bank has invested Rs 50 crore in Lavasa Corporation Ltd (LAVASA), a subsidiary of HCC, in the form of convertible debentures. Based on the above investment, the equity valuation ...
ANNOUNCEMENTS:
TRF Ltd launches Web site
TRF Ltd, a Tata Group company, has launched a new Web site, www.trf.co.in, which, with new features, is expected to establish better connectivity with all its stakeholders, according to a press release issued ...
RIGHTS ISSUE:
Country Club mulls rights issue
Country Club India Ltd’s board of directors will meet on December 19 to consider the proposal for rights issue and to deliberate on the proposal to merge with / acquire its associate company(ies). – ...
MERGERS & ACQUISITIONS:
Satyam episode brings corporate governance issues to the fore
Hyderabad, Dec. 17 Satyam Computer Services might have called off the deal to acquire Maytas Properties and Maytas Infra for $1.6 billion, bowing to widespread resentment from investors. But the issue raises several questions related to ...
NEW PROJECTS:
Tanaji Malusare launches phase II of Karjat project
Pune, Dec. 17 Tanaji Malusare City has announced the launch of its Phase II of the project in ...
OVERSEAS BORROWINGS:
Buyback of FCCBs
Of late there have news reports on various developments relating to Foreign Currency Convertible Bonds (FCCBs). It was only in the late 1990s various corporations started leveraging FCCBs to fund their growth plans. It is an efficient ...
STANDARDS & BENCHMARKS:
‘Quality management measures help Tata Steel cut production cost’
Kolkata, Dec. 17 Series of TQM (total quality management) initiatives over the past few years have helped Tata Steel reduce production cost so much that the cost of production of a tonne of saleable steel has dropped by an estimated 2.5 per ...
OUTLOOK:
‘Luxury car segment will pick up after Q1 next year’
BMW India is confident that the market for luxury car segment in the country will pick up after the first quarter of next year, said Mr Peter Kronschnabl, President, BMW India Pvt ...
ANNOUNCEMENTS:
Taj to reopen 268 rooms on Dec 21
Chennai, Dec. 17 As many as 268 rooms, including nine suites and 26 Taj Club rooms, and a number of restaurants will be ready to receive guests when the Taj Mahal Palace and Tower in Mumbai reopens to the public on December ...
CORPORATE DISPUTES:
Lupin settles patent lawsuits
Mumbai, Dec. 17 Lupin Ltd has settled patent litigations on allergy drug Desloratadine tablets, the generic version of Schering-Plough’s Clarinex ...
NEW PROJECTS:
Honda operations in Rajasthan plant deferred
New Delhi, Dec. 17 Honda Motor Co on Wednesday said that it had deferred its capacity expansion and assembly operations plans at its second plant in ...
CORPORATE DISPUTES:
Nycomed files patent suit against Glenmark
Mumbai, Dec. 17 Drug-firm Nycomed has filed a patent infringement suit in the US District Court regarding Glenmark’s generic version for its Fluticasone Propionate skin ...
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