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Thursday, May 07, 2009
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OVERSEAS INVESTMENTS: NHPC taking up projects worth Rs 45,000 cr in Myanmar, Bhutan
Ties up with BHEL to enter Tajikistan. New Delhi, May 6 In line with India’s hydropower diplomacy initiative in its immediate neighbourhood, state-owned NHPC Ltd is working on plans to develop hydroelectric power plants in Myanmar and ...

NEW PROJECTS: Tata Housing launches low-cost project
Mumbai, May 6 Tata Housing Development Company has launched a low-cost housing project at Boisar, which is about 80 km from ...

MERGERS & ACQUISITIONS: McNally Bharat to buy German co’s engg, mineral tech biz
Due diligence exercise is on to arrive at valuation. Kolkata, May 6 McNally Bharat Engineering Company, a Kolkata-headquartered joint venture between BM Khaitan group and GP-CK Birla group, is preparing to take over an unlisted German company ...

ALLIANCES & JOINT VENTURES: Charotar Gas to supply piped gas to Amul chocolate plant
Joins hands with Gujarat State Petroleum to enter CNG business. The Anand-based Charotar Gas Sahakari Mandali Ltd (CGSML), India’s only city gas distributor (CGD) in the cooperative sector and piped gas supplier to eight villages, has ...

OUTLOOK: Gujarat Gas looks at LNG option to enhance sales
Plans to sign agreement with aggregators for regular supply. Kolkata, May 6 The British Gas-controlled Gujarat Gas Company Ltd (GGCL) may go for the LNG option to enhance retail sales volume. According to industry sources, the company will ...

NEW PROJECTS: Tata power plant commissioned
Industrial Energy Ltd, a joint venture between Tata Power (74 per cent) and Tata Steel (26 per cent), on Wednesday announced the commissioning of a 120-MW power plant, Power House 6, at Jamshedpur, a press release issued by the company said. Mr ...

OUTLOOK: Jet Air-Kingfisher operational synergies pact yet to take effect
Working groups still working out modalities. Bangalore, May 6 The grand alliance between Jet Airways and Kingfisher Airlines on reducing costs through operational synergies is still stuck at the working group stage, nearly seven months after the ...

NEW PROJECTS: Essar Steel opens service centre for customised steel
New Delhi, May 6 Essar Steel will complete its expansion, adding 5 million tonnes per annum capacity of steel at its plant in Hazira, Gujarat by June 2010. This will take total capacity to ...

PERFORMANCE: STC gearing up to consolidate biz operations this fiscal
New Delhi, May 6 Buoyed up by the record trading performance in fiscal 2008-09, State Trading Corporation (STC) of India is gearing itself to consolidate its existing operations in hydrocarbons, agro commodities and in bullion trade in ...

PERFORMANCE: BHEL ‘in-house’ R&D products gave 20% of FY’09 turnover
New Delhi, May 6 Bharat Heavy Electrical Ltd on Wednesday said it achieved nearly 20 per cent of its 2008-09 turnover by commercialisation of products and systems developed by the in-house research and development ...

OVERSEAS INVESTMENTS: US leadership development co Linkage sets up India office
Bangalore, May 6 A rapid growth in Indian companies and the changing responsibilities and expectations of managers here will drive the growth of the US-based organisational and leadership development company Linkage Inc in ...

OUTLOOK: Marg to deliver 330 flats in July
Chennai, May 6 Marg Ltd, whose subsidiary, New Chennai Township Pvt Ltd, is developing a mini-city 75 km south of Chennai, says it will deliver the first set of 330 apartments ...

NEW PRODUCTS & SERVICES: Ocimum Bio’s test to detect swine flu
Hyderabad, May 6 As the swine flu fear continues to grip people and authorities screen visitors with flu-like symptoms from abroad, an Indian company has come up with a test to detect ...

OVERSEAS INVESTMENTS: IHCL to acquire more stake in Orient-Express Hotels
Mumbai, May 6 Indian Hotels Company Ltd has agreed to buy 2.25 million Class A shares of the US-based Orient-Express Hotel in which it had acquired a stake of 11.5 per cent for $247 million in ...

PERFORMANCE: ONGC adds 284.81 mt of oil and gas reserves
New Delhi, May 6 ONGC has added in-place reserves of 284.81 million tonnes (mt) of oil and oil-equivalent gas during 2008-09. “The highest addition by the company in the past 18 years,” a company ...

BUYBACK: Pennar Ind buyback plan
Chartered Capital & Investments Ltd on behalf of Pennar Industries Ltd (formerly Pennar Steels Ltd) issued a public announcement of its buyback offer. Pennar Industries plans to buyback its fully paid-up equity shares of the face value of Rs ...

REGULATORY BODIES & RULINGS: Suven Life unit gets USFDA nod
Suven Life Sciences has got the nod from the US Food and Drug Administration (US FDA) for manufacture and supply of intermediates for active pharmaceutical ingredients (APIs) from its facility in Suryapet in Nalgonda district. This is the ...


Columnists: C Gopinath Harish Bijoor Ramanujam Sridhar Radhika Chada K Srikrishna




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Markets (May 06)
Nifty (at close)3625.05(-36.85)
US Dollar (Buy/Sell)49.61/62
Brent crude (a bbl) Rs2,687
Gold (a gram) Rs1,344
Silver (a kg) Rs22,900

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In Focus
Nano - The People's Car

Mandate 2009

Who is hiring?

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Other Top Stories
Banks witness sharp fall in credit demand

Oilmeal exports drop 64% in April

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Tata Housing launches low-cost project

Looking back
Apr. 26-May. 2
Jet Airways trims management staff pay

L&T unit files for 108 patents in 2008-09

Reliance signs gas supply pact with 9 power cos

Reliance Gas seeks nod to levy transportation charges

Q4 turns worst ever for DLF on property slump, liquidity crunch


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