CORPORATE
ANNOUNCEMENTS
ONGC produces crude from marginal field
ONGC has produced close to half a million tonnes of crude oil from its marginal field of Bassein and Satellite (B&S) asset in the Mumbai offshore area in its first year of production. "The D-1 field has completed a year of crude oil production ..
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PREFERENTIAL ALLOTMENTS
Conversion price for Reliance pref warrants fixed at Rs 1,402
The conversion price for the 12-crore preferential warrants in Reliance Industries Ltd to be issued to its promoters has been fixed at Rs 1,402 per share, a statement from the company said. The Chairman, Mr Mukesh Ambani, and others will be ...
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OVERSEAS BORROWINGS
Nagarjuna Const to raise $180 m
Nagarjuna Construction Company Ltd (NCCL) plans to raise funds to the extent of $180 million by issue of equity shares to Qualified Institutional Buyers and/or by issue of GDRs/FCCBs/other permitted Securities. The company has informed BSE that ...
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HUMAN RESOURCES
Singur residents take part in Tata Motors test
A group of 204 Singur residents today took a test - the third round - conducted by Tata Motors and the West Bengal Industrial Development Corporation (WBIDC). Those who qualify will be provided with advanced training for exposure to ...
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MERGERS & ACQUISITIONS
PVP Enterprises acquires stake in SSI
Promoters sell stake in 2 tranches at Rs 208 a share
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Leyland, Tata, SAME lead race for Punjab Tractors stake
Bidding for Actis' 29% and Burman family's 14.15% stake
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NTPC bids for Globeleq's Egypt power plant
NTPC Ltd on Monday said it is submitting a bid to buy a 685.2-MW power project owned by British power investment firm Globeleq in Egypt. NTPC said it is submitting a non-binding bid to buy the Sidi Krir power project in Egypt through 100 per cent ...
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Autoline acquires 51% in Stokota
Auto component company Autoline Industries Ltd has signed a memorandum of understanding with special vehicle manufacturer Stokota NV to acquire 51 per cent stake in Stokota's global operations for approximately Rs 66.8 crore in cash and ...
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NEW PROJECTS
Mahindra-Renault-Nissan car facility near Chennai
Investment at Rs 4,000 cr; M&M to produce utility vehicles here
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FMC opens organolithium plant near Hyderabad
Chemicals company FMC India on Monday said it has launched its first factory near Hyderabad to manufacture organolithium compounds. These are key ingredients in many bulk drugs, in particular drugs for cardio-vascular diseases and HIV ...
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Terex Vectra to invest $4 m in Indian operations
Plans to increase workforce
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New project
JOINT INITIATIVE: The Tamil Nadu Chief Minister, Mr M. Karunanidhi, with Mr Keshub Mahindra, Chairman, Mahindra Group; Mr Pawan Goenka, President, Automotive Sector, M&M; Mr Patrick Pelata, Executive Vice-President, Renault; and Mr Shaktikanta ..
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ALLIANCES & JOINT VENTURES
Ethypharm, Shantha Biotech tie up
Ethypharm India has entered into an out-licensing and supply agreement with Shantha Biotechnics for Ondansetron Flashtab, a medicine taken to prevent vomiting associated with chemotherapy treatment for cancer. Ethypharm is a ...
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SOCIETY & DEVELOPMENT
RINL donation to KGH
The Visakhapatnam Steel Plant has donated Rs 5 lakh to the King George Hospital (KGH), the most important public hospital in the north-coastal districts, for improving the operation theatre. The cheque was handed over to Dr D. ...
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VENTURE CAPITAL
Granules picks Ridgeback as strategic investor
Granules India Ltd has decided to rope in Ridgeback Capital Investments, a US-based focused pharma fund, as a strategic investor. The specialised pharma fund is expected to pick up 14.95 per cent of the stake in Granules India (GIL), with an ...
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OUTLOOK
Reliance mulls using gas pipelines to support cold storage chain
Reliance Industries Ltd (RIL), which is setting up a network of pipeline grid criss-crossing the country, is considering the option of using this network to support a large cold storage chain for its retail business. The Managing Director of ...
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Mahindra's next investment in TN could be in tractors
The next investment by Mahindra & Mahindra group in Tamil Nadu could well be for a tractor facility. Dr Pawan Goenka, President, Automotive Sector, M&M, told Business Line today that the group was in negotiations with the State Government ...
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Asia Motor Works plans customised body solutions
To step up additional horsepower too
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Bajaj Auto plans 55 Probiking showrooms
Building on a new channel strategy, Bajaj Auto Ltd plans to establish 55 Probiking Bajaj-owned showrooms by the end of this fiscal to sell its high-end bikes. The company launched its third centre in the country here on Monday after similar ...
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SAIL to save Rs 70 cr from freight rate cut: Roongta
`Dedicated freight corridors, a positive step'
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Seth Ramdas hospital to begin Pune operations in March
Surgical speciality hospital, Seth Ramdas Shah Memorial Hospital & Research Center — A Richard Wolf Center of Excellence for Minimal Invasive Surgery Training and Research — will begin operations in Pune from March. Mr Vikram ...
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International Cars' export target
The Punjab-based Sonalika Group controlled International Cars and Motors Ltd (ICML) has set for itself an ambitious export target of 5,000 Rhino cars valued at about Rs 300 crore during the financial year 2007-08. A statement ...
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