The Hindu Business Line : Wednesday, November 23, 2005

L&T bags Rs 252-cr orders in electricity distribution
LARSEN & Toubro Ltd (L&T) has announced that it has secured orders worth Rs 252 crore in the electrical, transmission and distribution sector. A 400-kilo-volt switchyard in Himachal Pradesh, a substation in Bhutan, and a 132-km long power ... More

GlaxoSmithKline prepares to bring bird-flu drug to India
RELENZA was not an anti-viral medicine that GlaxoSmithKline (GSK) was planning to register in India. But with bird-flu putting the global spotlight on Relenza, along with Tamiflu, GSK has put in a `stock requirement' for India with its parent ... More

Toyota Kirloskar rolls out 2 lakh cars
TOYOTA Kirloskar Motor on Tuesday said that it has produced 2 lakh vehicles from its factory near Bangalore. A press statement from the company said while the production of the first lakh was achieved in four years (1999-2003), that of the ... More

`United Phosphorus wrongly implicated in Volcker Report'
MUMBAI: United Phosphorus Ltd has informed the BSE that its name has been wrongly implicated in the Volcker Report. "The company would like to mention that none of the UN contracts or the letters of credit for supplies made by the ... More

Nagarjuna bags highway project
HYDERABAD: Nagarjuna Construction Company Ltd (NCC) has announced that it, along with its joint venture partners, has bagged the construction of the elevated highway project of the Bangalore-Hosur section. This section is part of ... More

Manisha joins GV Films board
MUMBAI: Hindi film actress Manisha Koirala joined the Board of Directors of GV Films Ltd., which has recently made its foray into the Hindi film industry. She will be involved and in charge of various future projects of G.V. Films, ... More

CORPORATE DISPUTES

AstraZeneca Plc to sue Ranbaxy on ulcer drug
ASTRAZENECA Plc has decided to file a lawsuit in a New Jersey District Court against Ranbaxy Laboratories Ltd for `wilful infringement' of its patents protecting Nexium (esomeprazole magnesium) used in the treatment of heartburn and ulcers. The ... More

OVERSEAS BORROWINGS

Indian Oil to raise $250 m from international market
INDIAN Oil Corporation Ltd (IndianOil) said on Tuesday that it is all set to raise $250 million from the international market, with a greenshoe option of $50 million, to part-fund its capital expenditure (capex) requirements. Mr S. V. ... More

AWARDS & HONOURS

NTPC unit bags global award
HYDERABAD: NTPC Simhadri power project has bagged the prestigious international project management award for 2005 for excellence in management and operation performance, according to an NTPC statement. The NTPC Director (Projects), Mr ... More

COURTS/LEGAL ISSUES

Calcutta HC dismisses Laxmi Realtors petition
MR Justice Jayanta Kumar Biswas of Calcutta High Court on Tuesday dismissed the petition of Laxmi Realtors Pvt Ltd regarding challenge of tender for construction of International Convention Centre at New Town, Kolkata, under the supervision of ... More

MERGERS & ACQUISITIONS

ICICI Venture to buy 26% stake in Viceroy Hotels thru pref offer
ICICI Venture Funds is picking up 1.14 crore equity shares and share warrants of Viceroy Hotels Ltd, amounting to 26 per cent of the equity, through the preferential allotment route. The stake being picked up by ICICI Venture includes 60 lakh ... More

BBC seeks nod to pick up 20 pc in Radio Mid-Day
BBC Worldwide, a subsidiary of the British Broadcasting Corporation, is on the prowl. After setting up a joint venture company with the Times of India group last winter for publishing magazines, the company has now finalised plans to establish ... More

Swiss group picks up stake in RR Investors
LOTUS Global, a Swiss investment group, has taken a minority stake in RR Investors, a distributor of investment and savings products. Details such as the exact holding secured by the overseas investor and the quantum of its investment in the ... More

Taskforce on HMT-Praga Tools merger
BANGALORE: HMT Ltd has decided to set up a taskforce to study the administrative, technical and financial issues of the merger of Praga Tools Ltd with it. The taskforce has been given the mandate to come out with modalities for a smooth ... More

NEW PROJECTS

Saint-Gobain outlines phase II expansion plan
HAVING achieved 27 per cent market share for its range of products in a span of five years, Saint-Gobain Glass India Ltd is hoping to reach the 40-per cent-mark in the next cycle of investment. The company, according to its Managing Director, ... More

US consortium to pick up 19 pc stake in Himalya International
MUSHROOM and vegetables exporter Himalya International has set up a new facility in Himachal Pradesh for mozzarella cheese from buffalo milk in collaboration with a US-based company. The collaborator - Winona Foods - funded the plant at a ... More

ALLIANCES & JOINT VENTURES

Sahara One pact with Spacetoon for kids entertainment content
As per the pact the channel will telecast an hour of animation and live action series targeted at kids. More

Iffco sets up joint venture in Egypt
IFFCO has set up its first joint venture company in Egypt for manufacturing phosphoric acid. The joint venture company - Indo Egyptian Fertiliser Company - is in partnership with El Naser Mining Company of Egypt in which Iffco will hold a ... More

NDTV joins Direct TV, Sky platforms to reach US, UK markets
IN order to increase its presence in the international markets, English news channel NDTV 24x7 will be available on Sky platform in the UK and DirecTV, the largest direct-to-home (DTH) service provider in the US. According Dr Prannoy Roy, ... More

EVENTS

A study tour
King Carl XVI Gustaf of Sweden (right) and Mr Bhaskar Iyer, Managing Director, AstraZeneca Pharma India Ltd, at the AstraZeneca campus in Bangalore on Tuesday. The visit is part of the 2005 Royal Technology Mission organised by The Royal Swedish ... More

OUTLOOK

`Shredders market in India still at nascent stage'
WHEN Lt Col Oliver North shredded sensitive documents that were required in the Iran-Contra deal, a scandal erupted that just stopped short of reaching Watergate-esque proportions. He was subsequently tried and convicted in May 1989 on charges of ... More

ONGC seeks reimbursement of payments made for partners
OIL and Natural Gas Corporation (ONGC) has urged the Petroleum Ministry to expedite the process of reimbursing cess and royalty payments made by it for its joint venture partners in exploration fields. Speaking to Business Line, a ... More

Polar Pharma eyes US, European markets
POLAR Pharma India Ltd is planning to expand its condom business to the US and European markets as it aims to increase its turnover to Rs 200 crore from Rs 35 crore. Speaking to Business Line, Mr Anil Agarwal, Chairman, Polar Group, ... More

`Balanced Scorecard - a management concept for future'
WHY is it difficult for successful companies to remain so on a continuous basis? Is it because companies only focussed on the financial numbers? Yes, says Dr Anil Naik, a consultant and an expert on this concept called `Balanced ... More

PERFORMANCE

Jay Shree Tea: Divergent show by fertiliser, tea divisions
JAY Shree Tea & Industries Ltd, a B.K. Birla Group company, with interests in fertilisers and teas, has witnessed conflicting developments over the last few months. The fertiliser business was boosted with the Union Government's decision to ... More

Delhi High Court orders winding up of Data Access
THE Delhi High Court has ordered the winding up of Data Access (India) Ltd stating that it has huge liability of over Rs 530 crore to various parties and the company is not in a position to undertake its operations and carry on the business. ... More

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