The Hindu Business Line : Tuesday, June 14, 2005

Maruti cuts M800 prices by Rs 16,000
Firing the latest salvo, market leader Maruti Udyog Ltd today said it had slashed prices of the Maruti 800 by Rs 16,286. With this price cut, the entry level (BS III complaint) M800 model is available for less than Rs 2 lakh. After the ... More

Shanta Biotech to start cancer-related drug trials in Aug
THE Hyderabad-based Shanta Biotechnics expects to start its first phase of human trials on monoclonal antibodies by August. Monoclonal antibodies are laboratory-created substances that can locate and bind with cancer cells. Shanta Biotech ... More

AWARDS & HONOURS

Global meet lauds poultry major's farm model
POULTRY major Venkateshwara Group's poultry farming model has received appreciation from the World Agricultural Forum's (WAF) World Agri Congress 2005 held at Missouri, US, last month. The group's development model of `science, service and ... More

MERGERS & ACQUISITIONS

Mergers and machismo — Are takeover chiefs acting rationally?
WHY are some corporate heads so gung-ho about mergers and acquisitions (M&A) when the empirical evidence available strongly suggests that the value created by these exercises accrues almost completely to shareholders of More

Siemens VDO merger ratio
BANGALORE: Shareholders of Siemens VDO Automotive have approved the share exchange ratio of 1:12 (one share of Siemens Ltd for every 12 shares of Siemens VDO Automotive) for the merger of the company with Siemens Ltd. The company ... More

NEW PROJECTS

Jindal Vijayanagar may raise $500 m to fund expansion
JINDAL Vijayanagar Steel Ltd (JVSL) has obtained shareholders' approval to raise $500 million through a foreign currency convertible bonds (FCCB) issue. The company is expanding its steel-making facilities from 2.5 mt to 3.8 mt at a cost of Rs ... More

Pitti Laminations plans pref shares to fund expansion
PITTI Laminations Ltd, a leading manufacturerof laminations for the electrical industry, will offer 15.90 lakh equity shares of Rs 10 each at a premium of Rs 62 on a preferential basis and also issue 4.10 lakh warrants at the same price. The ... More

PFC okays Rs 750-cr loan for Nagarjuna thermal project
POWER Finance Corporation, the lead banker for the thermal power project of Nagarjuna Power Corporation Ltd at Padubidri in Udupi district, has sanctioned a loan of Rs 750 crore to the project, according to a Nagarjuna Power release here on ... More

NMDC floats EoI for pig iron plant
NATIONAL Mineral Development Corporation Ltd (NMDC), the Central PSU, has floated a global expression of interest (EoI) seeking a 50:50 joint venture partner for its proposed pig iron plant in Chattisgarh. The initial capacity of the proposed ... More

ALLIANCES & JOINT VENTURES

Tata Steel to invest $700 m in Iran — To be equal partner with 49 pc stake
TATA Steel's Iranian commitments, disclosed on Sunday, include a fully owned facility for producing steel billets entailing an investment of nearly $700 million over the next five years. The company will partner the Iranian Mines and Mining ... More

STANDARDS & BENCHMARKS

Global certification for Kudremukh
MANGALORE: The Kudremukh Iron and Steel Company (KISCO) has received three international standard certificates - ISO 9001:2000 for quality management system; ISO14001:1996 for environmental management system; and OSHAS:18001 for ... More

OUTLOOK

Avi-Oil plans to expand overseas
HAMSTRUNG by duty anomalies at home, Avi-Oil Private Ltd is considering expanding operations in other countries to ramp up sales in the civil aviation sector. The company is a joint venture between Indian Oil Corporation (holding 25 per cent ... More

Volvo bullish on used trucks market
SINCE its foray into the pre-owned truck market in India, Volvo has sold over a 100 units within a year, which is nearly one-third of the new Volvo trucks sold last year. A Volvo spokesperson told Business Line that certain customers ... More

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SSI production up 8 pc, exports rise 21 p c

Trade to GDP ratio tops 25 pc

Jindal Vijayanagar may raise $500 m to fund expansion

RBI panel for hike in foreign currency export credit rates

STT, Telekom Malaysia plans fail to get approvals — Idea Cellular deal falls through

SCI Q4 net jumps to Rs 611.13 cr

In Focus

BHEL Disinvestment

China's revaluation