The Hindu Business Line : Friday, November 04, 2005

Nagarjuna Power may award O&M contract to strategic investor
NAGARJUNA Power Corporation Ltd is likely to award the operation and maintenance (O&M) contract of its project at Padubidri in Udupi district of Karnataka to one of its strategic investors. Addressing newspersons here on Thursday, Mr Praveer . More

ONGC decides against special dividend — May consider interim dividend later
ONGC, during its board meeting on October 26, decided that it would not be able to pay a special dividend based on the cash reserves, as it has already chalked out investment plans and has also hired credit rating agencies for overseas borrowings. More

BHEL bags Rs 130-cr IOC order
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 130-crore order from Indian Oil Corporation for setting up a co-generation power plant at IOC's Haldia Refinery complex. The `Frame-5 co-generation power plant' is being set ... More

PowerGrid gets $400-m ADB loan
NEW DELHI: Power Grid Corporation India Ltd (PGCIL) has got a $400-million loan from the Asian Development Bank (ADB) for a slew of transmission projects. A loan agreement was signed by the PGCIL Chairman, Mr R.P. Singh, and the ADB ... More

COURTS/LEGAL ISSUES

UK court permits Ranbaxy to appeal Lipitor verdict
RANBAXY Laboratories Ltd today said that the UK High Court had granted it permission to appeal the October 12 judgment stating that its atorvastatin product would infringe Pfizer's European patent. The court had upheld the exclusivity until ... More

MERGERS & ACQUISITIONS

Danish co acquires 60 pc equity in Pennar Profiles
Alumeco AS of Denmark has acquired majority equity holding of 60 per cent in Pennar Profiles Ltd (PPL), the ailing Hyderabad-based company that cleared institutional dues through one-time settlement (OTS) recently. As a part of the ... More

NEW PROJECTS

Sentini group plans Rs 300-cr expansion programme
THE Sentini group of industries has chalked out a major expansion involving investments of around Rs 300 crore for its businesses. The Hyderabad-based group has diversified interests in ceramics, steel fabrication, construction, information ... More

ALLIANCES & JOINT VENTURES

KPMG joint venture for sourcing Indian experts
KPMG India has entered into a joint venture with KPMG International to deploy skilled professionals from India in a front-end role to support global accounts. KPMG India has invested as a 50 per cent stakeholder in this joint venture. The new ... More

Investment arm: Coal India hopeful of early approval
MoU with ONGC on gasification
COAL India Ltd (CIL)'s proposed investment arm for acquisition of coal mines overseas may take shape by the end of this fiscal. ``We have applied to the Government for setting up Coal Videsh Ltd. We expect an approval by this fiscal,'' the CIL ... More

Shalimar Paints teams up with Kunsul Chemical
SHALIMAR Paints Ltd (SPL) has entered into a technical collaboration with Kunsul Chemical Industries Company Ltd (KCI), a Korean company, for pre-coated metal (PCM) coatings. KCI will provide technical know-how to SPL for various PCM products, ... More

OUTLOOK

Grover Vineyards hopes to raise Rs 15 cr via stake sale
Mr Abhay Kewadkar, Vice-President, said Grover would prefer a venture capital firm to pick up the 35 per cent stake. More

Indian Seamless bets big on exports
ISMT has been able to de-risk itself from steel price volatilities because it has linked the price of its tubes to scrap, a major raw material for alloy steel. More

PERFORMANCE

Coal India H1 profit up at Rs 2,828 cr
COAL India Ltd (CIL) along with its eight production subsidiaries has been able to earn a profit of about Rs 2,828 crore during the first half of the current fiscal compared to about Rs 2,340 crore during the same period the previous year. ... More

VSP sales turnover up
VISAKHAPATNAM: The Visakhapatnam Steel Plant produced 3,33,255 tonnes of hot metal, 2,95,377 tonnes of liquid steel and 2,37,016 tonnes of saleable steel during October. A press release here on Thursday said the plant achieved sales ... More

Maruti domestic sales up
NEW DELHI: Maruti Udyog Ltd on Thursday reported 14.7 per cent increase in sales during October at 50,308 vehicles in the domestic market against 43,650 units during the same period last year. Overall sales, however, increased by 4.3 ... More

GM sales rise marginally
NEW DELHI: General Motors India (GMI) on Thursday said its October sales increased marginally by 2.8 per cent at 2,829 units against 2,752 units in the same month last year. GMI said sales were driven mainly by its multi-utility vehicle ... More

PEOPLE

Hindustan Zinc non-exec chief
MUMBAI: Sterlite Industries has announced the appointment of Mr Agnivesh Agarwal as a non-executive chairman of Hindustan Zinc Ltd, a part of Vedanta Resources Plc. Mr Agarwal is a Director of Madras Aluminium Company Ltd. ... More

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