Business Daily from THE HINDU group of publications
Thursday, March 08, 2007
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CORPORATE

BUYBACK
Abbott India stock stays flat despite buyback offer
A substantial gap continues to remain between the buy-back offer price and the market price in Abbott India. The buy-back offer, which after revision in timeline opened today and which closes on March 22, has a price tag of Rs 650 for a share of ... More

DIVIDEND ANNOUNCEMENT
DDT: Whither the level-playing field?
The Dividend Distribution Tax (DDT) is proposed to be increased to 15 per cent by the Finance Bill, 2007 with effect from April 1. Before this proposed amendment, companies were liable to pay DDT at 12.5 per cent plus surcharge and education cess ... More

ESOPS
The E`sob'story
The incongruity of the tax basis arises largely from the fact that, unlike in any other country, India now seeks to tax the employer for a benefit/income which accrues to the employee, most of it without the employer having granted it or having any c ontrol over it. More

RESTRUCTURING
Budget has little for corporate restructuring
Fiscal policy can definitely give a direction to the M&A process through constant appraisal in the light of corporate practices in changing times. MR P. K. VIJAYARAGHAVAN, ASSOCIATE DIRECTOR, PRICEWATERHOUSECOOPERS PRIVATE LTD edit_quote_author> More

MERGERS & ACQUISITIONS
Reliance plans to merge IPCL with itself
Merger ratio to be announced after board meeting on Saturday More

Punjab Tractors stake sale talks continue
A final decision on who would win the bid for acquiring controlling stake in Punjab Tractors is expected only towards the end of the current week as sources reveal that negotiations are going on with the principal bidders on not only the price ... More

Parsvnath picks up balance stake
Real estate firm Parsvnath Developers Ltd announced on Wednesday that it had acquired the balance 50 per cent stake in Parsvnath Landmark Developers Pvt. Ltd, (PLDPL) its equal joint venture with cement producer OCL India Ltd. ... More

Sekhsaria-Holcim combine buys 2% more in ACC
The Sekhsaria group-Holcim combine has raised its stake in ACC by over 2 per cent in the last fortnight through secondary market operations, according to a disclosure to the stock exchanges. Ambuja Cement India Pvt Ltd, the principal ... More

Greaves Cotton acquires German firm
Engineering company Greaves Cotton Ltd on Wednesday announced the acquisition of Bukh-Farymann Diesel GmbH, a diesel engine manufacturing company in Germany. The enterprise value of this acquisition is about 4.24 million euros (Rs 25 crore). ... More

Hyatt buys Balaji Hotels in Chennai for Rs 200 cr
The half-constructed hotel property of Balaji Hotels and Enterprises Ltd on the arterial Anna Salai in Chennai has been bought by the US-based Hyatt group from Balaji Hotels' creditors, IFCI, it is learnt. Sources said that the consideration ... More

NEW PROJECTS
Caparo to sign MoU with TN today
Setting up Rs 400-cr manufacturing facilities More

OVERSEAS INVESTMENTS
Tata Motors acquires Nissan facility in S. Africa
Unit to be used to launch Tata vehicles in Europe More

REGULATORY BODIES & RULINGS
Terapia Ranbaxy gets Market Authorisations for 20 products
Ranbaxy Laboratories Ltd on Wednesday said its Romanian company Terapia Ranbaxy has received Market Authorisations (MAs) for 20 new products to be launched in the coming months. In June 2006, Ranbaxy had announced that Ranbaxy Netherlands BV ... More

ALLIANCES & JOINT VENTURES
GAIL-Shell to work on facility sharing
GAIL (India) Ltd and Shell India have joined hands for facility sharing. The two have agreed to share GAIL's pipeline interconnectivity with Hazira terminal for gas supplies in the country. According to a statement issued by GAIL, "The two ... More

Teleradiology forms tie-up with Singapore co
Teleradiology Solutions has formed a 50:50 joint venture with Singapore's National Health Group to promote and market its remote radiology interpretation services in that country and beyond. Telerad (Singapore), the new marketing entity, will ... More

INTERVIEW
`Fringe Benefit Tax on ESOPs amounts to economic double taxation'
"The proposal raises a plethora of cross border taxation issues, especially in the case of globally mobile population." More

OUTLOOK
New versions of Indica, Indigo by 2008
Tata Motors is working on a new model line-up that will replace the current versions of the Indica and Indigo by 2008. The new Indica and the Indigo sedan will borrow design cues from the Tata Elegante concept that was unveiled at the Geneva Auto ... More






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