CORPORATE
ANNOUNCEMENTS
Sustainability Report: ITC among first 10 in the world
ITC Ltd has emerged as the first corporate from India to find a place among the first 10 companies in the world to publish its Sustainability Report in compliance with the latest G3 Guidelines of the Netherlands-based Global Reporting Initiative ...
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Fiat to sell its cars only through Tata-Fiat dealership chain
Fiat India has decided to sell its range of cars exclusively through the Tata-Fiat chain of dealerships. Mr De Filippis Giovanni, Managing Director, Fiat India, said the company has been selling its models using the existing 41 outlets of the ...
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Hyundai clarifies
With reference to the news item headlined `Hyundai plans to set up LCV plant at Pune' that appeared on the front page of Business Line on March 5, 2007, Hyundai Motor India says: "The news report does not portray the facts correctly. As ...
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OVERSEAS BORROWINGS
ICSA to issue $24-m FCCBs
ICSA (India ) Ltd today announced its decision to issue foreign currency convertible bonds (FCCBS) equivalent to $24 million to Goldman Sachs, which would be converted at 40 per cent premium to the market price within five years. ...
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NEW BUSINESS
OVL signs pact with Libya co
ONGC Videsh Ltd (OVL), the overseas arm of ONGC, has signed exploration and production sharing agreement with National Oil Corporation of Libya. According to a statement issued by OVL, the agreement was signed on March 5 at ...
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RESTRUCTURING
Tata Teleservices mulls hiving off tower business
May monetise assets to plough cash into mobile services
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MERGERS & ACQUISITIONS
M&M clinches bid for Punjab Tractors
To acquire 43% at Rs 360 per share
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Tata Steel arm buys plants in Vietnam
As part of its focus on regional consolidation, Tata Steel, through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd, has entered into separate agreements to acquire controlling stake in two rolling mills located in Haiphong, ...
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CORPORATE GOVERNANCE
Cabinet approves board guidelines for Central PSEs
The Union Cabinet on Thursday gave its approval to the guidelines on Corporate Governance for Central Public Sector Enterprises (CPSEs). As per the guidelines, the board of directors of a company shall have an optimum combination of executive ...
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NEW PROJECTS
VW to assemble engines at Pune plant
Volkswagen AG plans to assemble engines at its proposed car manufacturing facility at Chakan in Pune. It will look at their production once the volumes roll in. Speaking to Business Line from Germany, Dr John Chacko, who will be heading ...
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Bhilwara bags hydropower projects in Arunachal
`Group has set a vision of achieving 1,500-MW capacity by 2012'
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Symega Savoury to be inaugurated today
The Austrian Ambassador to India, Dr Jutta Stefan Bastl, will inaugurate the new factory of Symega Savoury Technology Pvt Ltd, a joint initiative of Synthite Industrial Chemicals Ltd and Omega Flavours Technology Pvt Ltd, an Austrian initiative, ...
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Caparo group to set up Rs 300-cr plant near Chennai
To produce components for aerospace, automotive sector
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Andhra Petro to expand capacity
Andhra Petrochemicals Ltd has decided to expand its plant capacity from 39,000 tonnes per annum to 73,000 tonnes per annum for manufacture of oxo alcohols, i.e., 2-ethyl hexanol, normal butanol and iso butanol. The Tanuku-based ...
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Kiri Dyes plans Rs 110-cr diversification project
To come out with IPO in June to part-finance expansion
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INTERVIEW
`Mahindra Systech aiming at 25% of group turnover'
Mahindra Systech, the automotive division of the M&M group, has been on a shopping spree, acquiring overseas automotive companies. It now plans to focus on Indian operations. Mr Hemant Luthra, President, Mahindra Systech, discusses the rationale
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`Refund must be made within 30 days of filing of return'
A common problem that the Budget could have addressed, but did not, is of delayed income-tax refunds, frets Mr Prakash Hegde, Principal Consultant, PricewaterhouseCoopers. "Statutorily, an intimation of assessment and tax refund is to be ...
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SOCIETY & DEVELOPMENT
`Handle corporate social responsibility at top level'
The Finance Minister, Mr P. Chidambaram, on Thursday asked India Inc to pay more attention on corporate social responsibility (CSR) and have a senior management executive to specifically look into such issues. "Just as you have a Chief ...
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DIVERSIFICATION
Suzlon plans to diversify into solar, bio-diesel biz
Deal to buy German wind energy firm REpower nearly through: Tulsi
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Confident Group plans airline charter service
Targets existing clients; slated for launch in 2 months
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OUTLOOK
Skoda plans small car for emerging markets
Fabia launch by year end
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RMZ plans to build IT, commercial space at Guindy
To announce proposal for Coimbatore soon
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Unitech plans 100-acre township
Real estate developer Unitech Ltd has announced it would invest about Rs 2,250 crore for the development of a 100-acre residential township called `Uniworld City' in Greater Noida. "With an investment of over $500 million, the ...
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