CORPORATE
ANNOUNCEMENTS
HM gets Bengal nod to sell surplus land
The West Bengal Government has permitted Hindustan Motors Ltd to sell 314 acres of surplus land at the company's Uttarpara plant in Hooghly district. An application made by the company has been pending with the State Government. ...
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Glenmark to ship epilepsy drug
Glenmark Pharmaceuticals Ltd expects to commence shipment of its epilepsy drug Gabapentin to the US. The company's announcement followed the approval received from the US Food and Drugs Administration to market oral tablets of ...
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Bombay Dyeing ties up with Sabyasachi
Bombay Dyeing on Thursday announced its tie-up with fashion designer Sabyasachi Mukherjee for its home textile products. The new collection known as Bombay Dyeing Sabyasachi Signature Line will be showcased at the coming New York ...
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OVERSEAS BORROWINGS
Tata Steel's $750-m loan facility rated BBB by S&P
Standard & Poor's Ratings Services assigned its `BBB' rating on Tata Steel Ltd's $750-million equivalent, seven-year, senior, unsecured bank loan facility. Tata Steel plans to use the proceeds for meeting its capital expenditure programme for ...
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DIVIDEND ANNOUNCEMENT
Priyadarshini Spg to pay 10%
The board of directors of Priyadarshini Spinning Mills Ltd has recommended a dividend of 10 per cent for the year ended March 31, 2006. The company has registered a turnover of 39.38 crore in the first quarter ended June 30, 2006, as against Rs ...
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NEW BUSINESS
Hind Dorr bags Navi Mumbai project
Hindustan Dorr Oliver Ltd has announced that it has received a prestigious order worth Rs 16.49 crore from City and Industrial Development Corporation of Maharashtra Ltd for design, engineering and construction of 25 MLD Sewage ...
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OUTSOURCING
HAL plans to outsource Rs 500-cr works to SMEs
`Nearly double last year's job-work worth Rs 285 cr'
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AWARDS & HONOURS
Ocimum Bio gets Red Herring award
The Hyderabad-based Ocimum Biosolutions has been selected as a Red Herring 100 Asia winner for 2006. From about 600 submissions throughout Asia, Ocimum was selected as one of Asia's hottest technology start-ups by Red Herring, ...
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HUMAN RESOURCES
Early to rise
Young CEOs bring energy and freshness... they also prove that experience and maturity do not necessarily come only with age.
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RESTRUCTURING
Bayer CropScience to close Thane plant in 2007
Bayer CropScience Ltd has decided to discontinue its production of crop science and pharmaceutical products at its Thane plant in 2007. The company told the Bombay Stock Exchange after its board meeting on Thursday that the board had approved ...
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MERGERS & ACQUISITIONS
A global bladder-print
Tata Tea has bought a 30 per cent equity stake in Energy Brands Inc of the US at $677 million, valuing the maker of Glaceau Vitamin waters at all of $2.3 billion! This is exciting news! The biggest-ever equity investment by a private Indian ...
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CORPORATE GOVERNANCE
Where salary overshadows sales
The annual basic salary of Rs 4,26,000 for a company's executive director (ED) may not seem much. But the case of Kolkata-based Hindustan Wires Ltd is interesting because the company's sales, at Rs 75,000 for the year ended March 31, are just ...
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`Corporate governance must promote cos' long term interests'
Corporate governance tends to be confused with the protection of the interests of minority shareholders', especially so in the wake of the recent discoveries of corporate malfeasance in the US, said Mr Adi Godrej, Chairman, The Godrej ...
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NEW PROJECTS
Goodyear India plans Rs 80-cr expansion
To introduce `Excellence' range of radials
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Bosch India plans to add 1,000 employees every year
Bosch envisions the future of Indian cars with more silicon and is increasing its focus on automotive electronic control units.
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Samsung's new plant in AP or Tamil Nadu; no decision yet on investment
Samsung India is looking at Andhra Pradesh or Tamil Nadu to set up its second manufacturing facility in the country. "We will make a formal announcement of Phase I of the commencement of this unit in September, which will manufacture and ...
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ALLIANCES & JOINT VENTURES
Kinetic Comm forms joint venture with Italian co
The Italy-based Ducati Energia on Thursday announced the establishment of a 50-50 joint venture in India with Kinetic Communications for production of auto electrical components. The joint venture Ducati Engergia India Pvt Ltd, to be located ...
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Ascott, Rattha Group tie up to develop 7 residential properties
Projects to come up in Chennai, Bangalore, Hyderabad, Mumbai
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ONGC awaits board approval for PowerGrid tie-up
ONGC is expecting to receive board approval soon for the much-awaited transmission joint venture with Power Grid Corporation in Tripura. "The last board meet had raised certain questions on the joint venture. This next board meet will clarify ...
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Punj Lloyd in joint venture with German co
Punj Lloyd Ltd (PLL) on Thursday said that it had entered into a joint venture with German company KAEFER GmbH. PLL will hold 49 per cent, while KAEFER would hold the remaining stake in the joint venture. The new company will have three ...
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VENTURE CAPITAL
Express Eco-tourism ropes in VC firms
Firms to pick up 50 per cent equity stake
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DIVERSIFICATION
Candico forays into kids merchandise
To invest Rs 30 cr towards retail expansion
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VBC Ferro investment plans approved
The shareholders of VBC Ferro Alloys Ltd at the annual general meeting have approved the company's proposal to invest in Konaseema Gas Power Ltd and also in Karthik Rukmini Alloys & Energy Ltd. The company has informed the stock exchanges that .
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OUTLOOK
High-spirited growth
Lalit Khaitan of the Radico group, on the growing market for alcohol in India and much more.
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ONGC, Shell in talks for upgradation of Kalol field
Shell likely to make investments in the project
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United Technologies bullish on India
Mulls manufacturing, maintenance centres
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