CORPORATE
RESEARCH & DEVELOPMENT
AstraZeneca global downsizing will not touch India, says CEO
Opens Rs 67-cr process R&D centre in Bangalore
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Biocon begins work on research unit
Biocon said it had begun work on the new research facility of its subsidiary Syngene and its US research partner Bristol-Myers Squibb Co. A ground breaking ceremony was held on Wednesday. Dr Francis Cuss, Senior Vice-President, ...
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ANNOUNCEMENTS
Lanco-Jindal awaits Ministry nod for bank guarantee
Consortium confident it will be awarded Sasan project
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Punj Lloyd's Gulf contract extended
The Delhi-based engineering firm Punj Lloyd Ltd has received extension of its contract with New Doha International Airport. The extension will see the company working to enhance the capacity of the fuel system in the second phase ...
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ACCOUNTING STANDARDS
A Standard, revised and deferred
Though AS-15 (Revised) has been postponed to 2007-08, it is better to follow the measurement principles enunciated for 2006-07.
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OVERSEAS BORROWINGS
Suryajyoti raises $10 m
Suryajyoti Spinning Mills Ltd has raised $10 million by issuing foreign currency convertible bonds (FCCB). The bonds, which have been listed on the Singapore Stock Exchange, are convertible into shares at Rs 85 a share. These funds would part ...
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DIVIDEND ANNOUNCEMENT
NCC declares 40% interim
Nagarjuna Construction Company Ltd has decided to pay an interim dividend of 40 per cent (Rs 0.80 per share of Rs 2 each) on the paid-up capital of Rs 41,48,93,720 (post bonus issue). The Hyderabad-based company has informed the ...
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NEW BUSINESS
Emaar MGF proposes Rs 13,000-cr investment in hotels
Real estate player Emaar MGF Land Pvt Ltd is planning to invest around Rs 13,000 crore in the next five years in construction of hotels. The company is planning to set up 10 hotels in the luxury segment and another 40 in the business class ...
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Jubilant signs $60-m global contracts
Jubilant Organosys, an integrated pharmaceuticals and large custom research and manufacturing services player, has signed international contracts worth $60 million for 2007. According to an official release, the contracts, which form part of ...
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MERGERS & ACQUISITIONS
IPCL strike enters second day
The 24-hour relay hunger strike of the Vadodara-based Indian Petrochemicals Corporation Ltd (IPCL) employees entered the second day on Wednesday even as about 2,200 employees, out of 5,500, are speculated to have opted for the "Voluntary ...
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Dorf Ketal completes ExxonMobil Chemical unit buy
Acquisition would be funded through internal accruals
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NEW PROJECTS
RINL expansion: Work on sinter plant-3 begins
The construction work on sinter plant-3, taken up as part of the Visakhapatnam Steel Plant expansion project, began on Wednesday. Mr Y. Sivasagara Rao, Chairman and Managing Director, said that it was the first of the turnkey projects in the ...
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REGULATORY BODIES & RULINGS
Wockhardt gets nod for sale of painkiller in US
Wockhardt Ltd has announced that it has got approval from the United States Food and Drug Administrator to sell its painkiller tablets that combine Dextropropoxyphene napsylate and Acetaminophen (DPN + APAP) in the US. The approval is ...
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ALLIANCES & JOINT VENTURES
India Steamship, Korean co in pact for Aframax tanker
India Steamship (ISS), the shipping arm of Chambal Fertilisers & Chemicals Ltd belonging to the K.K. Birla Group, signed on Wednesday an agreement with Hyundai Heavy Industries Co Ltd of Korea for acquiring an Aframax tanker (1,05,000 dwt) with .
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DIVERSIFICATION
SAIL forays into cement manufacturing
Signs shareholders pact with Jaiprakash Associates
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Vascon, InterContinental tie-up for biz hotel at Balewadi
Vascon Engineers is constructing a four-star business hotel at Balewadi near Pune and has tied up with the InterContinental Hotels Group to manage it as a Holiday Inn hotel property. Mr R. Vasudevan, Chairman, Vascon Engineers, said that the ...
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OUTLOOK
ONGC offshore asset valuation higher this year
Chairman may hold meeting with brokers on Friday
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Transco draws up investment plans
Transmission Corporation of Andhra Pradesh (APTransco) plans to spend Rs 4,498 crore towards improving the transmission system during the XI Plan period (2007-2008 to 2011-2012) In addition, the distribution companies in the State have proposed ...
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PEOPLE
Re-appointed Great Offshore MD
The board of directors of Great Offshore Ltd, which met here on Wednesday, has resolved to re-appoint Mr Vijay K Sheth as the company's Managing Director. Great Offshore is the new entity that was born out of the demerger of ...
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