CORPORATE
RESEARCH & DEVELOPMENT
Kalam to launch NPIL's new R&D centre today
It is no longer "strategic choice," but a "strategic imperative" that Indian companies do research, said Mr Ajay Piramal, Chairman of Nicholas Piramal India Ltd (NPIL). And to fuel this emphasis on research, NPIL is scheduled to have its Rs ...
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ANNOUNCEMENTS
Promoter sells 2.18 pc stake in Bhagyanagar Metals
MR Narender Surana, the key promoter of the Hyderabad-based Bhagyanagar Metals Ltd, along with other persons acting in concert (PAC), has sold 1,37,080 shares of the company in the market on November 9. The shares amount to 2.18 per cent of ...
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CORPORATE DISPUTES
Birla VXL to consider removal of Lodhas as auditors
IT is now the turn of Birla VXL Ltd, the flagship organisation of Mr S.K. Birla, to think of removing Lodha & Co, belonging to Mr Rajendra Singh Lodha, as statutory auditors of the company. The Jamnagar-based textile major has informed stock ...
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COMPANY LAW
Getting `even' on board meetings
CORPORATE sector seems to favour even numbers on the issue of how many board meetings a company should hold in a year. In fact, India Inc is for retaining the existing norm under the Company Law of holding at least four meetings of the board of ...
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AWARDS & HONOURS
Rolta named in Deloitte Fast 500 list
ROLTA has been named in the Deloitte Technology Fast 500 Asia Pacific ranking, said a news release from the company, which did not provide the ranking the company has achieved in the list. The Deloitte Technology Fast 500 recognises the 500 ...
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MERGERS & ACQUISITIONS
SKIL may sell 50 pc in Pipavav Shipyard
THE Nikhil Gandhi-promoted SKIL Infrastructure Ltd is at advanced stage of negotiations with a couple of global players to offload up to 50 per cent equity in the Rs 800-crore Pipavav Shipyard Engineering Ltd (PSEL). SKIL, the founder ...
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K-Mart to merge with Sears, Roebuck & Co
THE national discount retailer K-Mart is merging with another retail giant Sears, Roebuck and Company, with the so-called surprise combination becoming the third largest retail chain in the US after Wal-Mart Stores Inc and Target ...
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Easun Reyrolle plans to buy switchgear unit from group co
EASUN Reyrolle Ltd, which manufactures power system protection equipment, plans to acquire the switchgear division from Eswaran and Sons Engineers Ltd, a company belonging to the same group, for a consideration of Rs 5 crore. In a communication ...
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Indo Asian Fusegear to merge with subsidiary
ELECTRICAL switchgear equipment manufacturer Indo Asian Fusegear Ltd (IAFL) on Wednesday announced a reverse merger with its subsidiary Indo Kopp Ltd (IKL), as part of its strategy to increase the group's presence in Europe. "The merger will ...
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NEW PROJECTS
Tata Group signs four MoUs with Orissa Govt
THE Tata Group on Wednesday signed as many as four memorandums of understanding with the Orissa Government to set up several new projects, including a six-million-tonne integrated steel plant at Duburi in Jajpur district of the State. While ...
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Henkel India's new Rs 5-cr soap finishing line goes on stream
HENKEL India Ltd (formerly Calcutta Chemical Company Ltd) has started commercial production from its new soap finishing line, created at an estimated cost of about Rs 5 crore. The new facility has the capacity to produce two tonnes per hour of ...
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Vestas RRB to set up plants to make wind turbine blades
VESTAS RRB India Ltd, which manufactures wind electric generators, plans to set up plants in Tamil Nadu to manufacture blades and controllers at a total investment of Rs 35 crore. According to Mr Rakesh Bakshi, Managing Director, these ...
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CUMI to have production base in Europe
CARBORUNDUM Universal Ltd (CUMI), the flagship company of the Murugappa group, will set up a manufacturing base in Europe, after completion of the project in China in 2005-06. For Europe, the location has not yet been selected, while that for ...
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Lucas-TVS mulls setting up plant in Iran
LUCAS-TVS Ltd is considering setting up a plant in Iran for making starters and alternators. The Chief Executive and Managing Director, Mr T.K. Balaji, told journalists here on Wednesday that the company could start work on the Iran project in ...
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OVERSEAS INVESTMENTS
Package for cos investing overseas
THE Export-Import Bank of India (Exim Bank), Export Credit Guarantee Corporation of India Ltd (ECGC) and the World Bank's Multilateral Investment Guarantee Agency (MIGA) have formed a partnership for providing Indian companies investing overseas, ...
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SICK UNITS
Why it does not help to shirk in the name of sickness
Mohan R. Lavi discusses a case that prevented a sick company from not paying labour charges
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Pitti Laminations comes out of BIFR purview
FOLLOWING successful completion of settlement with the banks and financial institutions leading to the net worth turning positive, Pitti Laminations Ltd has come out of the purview of the Board for Industrial and Financial Reconstruction ...
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OUTLOOK
BILT bets on farm forestry to shore up margins
PAPER companies are aggressively looking at farm forestry operations to cut down on the landed cost of wood, which could translate into higher margins for them and also lower paper prices in the long run. With transportation costs accounting ...
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Fenesta hopeful of Rs 100-crore turnover in 5 yrs
FENESTA Building Systems (FBS), a division of Rs 1,550-crore DCM Shriram Consolidated Ltd (DSCL), is looking at a turnover target of Rs 100 crore within the next five years. It recently announced the launch of its operations in Mumbai. The ...
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PEOPLE
Subramanian is CMD of Sterling Holiday
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