The Hindu Business Line : Wednesday, April 06, 2005

Dr Reddy's seeking more funds for R&D
EVERYTHING (in research) cannot fail' is one thing Dr Anji Reddy, Chairman of Dr Reddy's Laboratories (DRL), firmly believes in. After finalising a $56-million agreement with ICICI Venture Funds Management Company, he said the company was ... More

ANNOUNCEMENTS

Nalco to resume aluminium ingots exports thru Paradip port
NATIONAL Aluminium Company (Nalco), the Orissa-based aluminium giant in central public sector, proposes to resume exports of aluminium ingots in containers through Paradip port after a gap of two months. "We will shortly resume shipments ... More

Reva launches new concept car
ELECTRIC carmaker Reva launched a new concept car, Reva-NXG, in Monaco on Monday. The Reva-NXG was launched by the Union Minister for Science & Technology, Mr Kapil Sibal. The new concept car is the result of a collaborative effort between RECC . More

Bajaj Tempo EGM holds poll on name change
EVERYTHING went on smoothly today at the extraordinary general meeting of Bajaj Tempo Ltd, which is in the news for deciding to go for a name change. Over 500 votes were polled at the EGM, though no results were made known. Talking to ... More

Patel Engg bags Rs 18-cr order
MUMBAI: Patel Engineering Ltd has bagged a Rs 18.40-crore micro-tunnelling project from the Brihanmumbai Mahanagarpalika in Mumbai, the second such project to be executed in India. Micro-tunnelling is one of the several types of ... More

BHEL bags Rs 1,464-cr order
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 1,464-crore order from Bhilai Electric Supply Co Pvt Ltd, a joint venture of NTPC and SAIL, to set up two units of 250 MW each at Bhilai thermal power project in Chhattisgarh. ... More

CORPORATE DISPUTES

AAIFR stays equity allotment by SS Organics
IN a petition by non-resident Indian (NRI) co-promoter of SS Organics Ltd., a pharma formulation and intermediaries company, the Appellate Authority for Industrial Financial Reconstruction (AAIFR) has declared issue of new shares as null and ... More

EXCISE AND CUSTOMS

`ITC settlement as per SC suggestion'
THE settlement reached between the Union Government and ITC Ltd in the Rs 803-crore alleged excise duty evasion case was in accordance with the "suggestion" made by the Supreme Court, the Union Finance Minister, Mr P. Chidambaram, said here on ... More

MERGERS & ACQUISITIONS

IVRCL in talks to acquire Hind Dorr-Oliver
IVRCL Infrastructure & Projects Ltd, close on the heels of a fresh public offer, is likely to snap up the Jumbo Group-managed Hindustan Dorr-Oliver Ltd in a deal estimated at around Rs 60 crore. Informed sources said talks to clinch a deal ... More

BPCL-Kochi Refineries swap ratio — MP writes to SCOPE chief
MR Dinesh Trivedi, a member of the Rajya Sabha belonging to Trinamool Congress, has urged the Chairman of the Standing Committee on Public Sector Undertakings (SCOPE) to re-assess the announced swap ratio of 9:4 for the merger of Kochi Refineries ... More

NEW PROJECTS

Vestas RRB opens windmill controller facility in Chennai
VESTAS RRB India Ltd hopes to inaugurate its facility to manufacture blades for wind turbines before the end of this financial year. It will invest about Rs 30 crore in this facility, which will come up near Chennai. Speaking to newspersons at ... More

Uttam Galva opens new mill
NEW DELHI: Uttam Galva Steels Ltd (UGSL) on Monday announced the successful commissioning of its latest reversible cold rolling mill. The new mill, which is part of the Rs 350-crore expansion plan, will enable the company to manufacture ... More

OUTLOOK

Nestle expects margins to remain under pressure
NESTLE India expects margins to remain under pressure this year, in view of hardening oil prices and firm raw material costs. ``In keeping with the situation in the FMCG sector, sustaining margins could be challenging. Oil prices are ... More

PERFORMANCE

BHEL Bangalore units record 125% rise in PBT at Rs 200 cr
At the end of fiscal 2004-05, the outstanding order book position of these units stood at Rs 1,990 crore. More

Nalco production, exports up
BHUBANESWAR: National Aluminium Company Ltd. (Nalco), India's largest producer and exporter of alumina and aluminium, has completed fiscal 2004-05 on a thumping note, surpassing all previous bests and establishing new records in all areas ... More

ECONOMIC OFFENCES

SAIL director goes on leave
NEW DELHI: The Steel Authority of India Ltd (SAIL) Director (Commercial), Mr S.K. Roongta, has proceeded for a month long leave following preliminary enquiries by the Ministry of Steel regarding SAIL's purchases of coal. A number of coal ... More

PEOPLE

Vinod Dasari is new COO of Ashok Leyland
He will head the company's manufacturing, strategic sourcing and corporate quality engineering divisions, according to an Ashok Leyland press release. Mr S. Nagarajan, at present Executive Director — Manufacturing, will take charge as ... More

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