CORPORATE
ANNOUNCEMENTS
Michelin introduces regroove service
Hyderabad, Aug. 13 French tyre major Michelin on Monday announced a unique ‘regrooving service’ that the company claimed potentially enhances the life of old truck tyres by about 20 per cent. “This is something which we ...
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NEW BUSINESS
L&T bags Rs 203-cr Delhi Metro contract
Mumbai, Aug. 13 Larsen & Toubro Ltd (L&T) has secured two design and build contracts worth Rs 203 crore from Delhi Metro Railway Corporation (DMRC) for construction of underground station at Saket in Delhi and a tunnel as part of its ...
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RESTRUCTURING
Visakha to exit from garments business
Hyderabad, Aug. 13 Visakha Industries has decided to hive off its garments division and later sell the assets.“The appreciation of rupee by 10 per cent in the recent months has affected the business adversely. This, in turn, is ...
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Bharti mulling tower biz transfer
Bharti Airtel on Monday said it will hold separate meetings with shareholders and creditors on September 7 and 8, respectively for considering the transfer of its tower business to its wholly owned subsidiary Bharti Infratel Ltd. The move is ...
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MERGERS & ACQUISITIONS
Fidelity pays Rs 52.6 cr for 7% stake in TCI
New Delhi, Aug 13 Fidelity Investments International has picked up close to seven per cent equity in the supply chain and logistics services company, Transport Corporation of India (TCI) for Rs 52.625 crore. The company plans to expand ...
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NEW PROJECTS
Capital investments may top last year’s levels: RBI
‘Incremental demand for goods, services will drive fresh investments’
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BGR Energy plans IPO to fund expansion drive
Chennai, Aug. 13 BGR Energy Systems Ltd, formerly GEA Energy System (India) Pvt Ltd, plans to come out with an initial public offer to fund its expansion programme in India and abroad.Addressing a press conference here on Monday, Mr ...
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Standard Ind developing property
Standard Industries Ltd proposes to develop a third of its property at Ghansoli, Navi Mumbai. The company's board, which met on August 10, has cleared an arrangement to be entered into with CapitaLand Financial Ltd, Singapore, for the purpose, ...
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ALLIANCES & JOINT VENTURES
Volvo looking for partner to make entry-level trucks
Plans to set up engine plant for Asia
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RIGHTS ISSUE
Indian Hotels to raise Rs 1,900 cr through rights
Mumbai, Aug. 13 Indian Hotels Company Ltd, owners of the Taj group of hotels, informed BSE on Monday that the Board of Directors of the company has decided to make a rights offer to raise around Rs 1,900 crore through two simultaneous but ...
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SICK UNITS
Essel Propack to revive RAS group cos
Mumbai, Aug. 13 Essel Propack announced that it has filed for rehabilitation of RAS Propack Lamipack and RAS Extrusions of the RAS Group with the Board for Industrial and Financial Reconstruction.“The rehabilitation proposal has ...
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OUTLOOK
Hyundai targets sales of 3.3 lakh units by year-end
To increase dealerships, service outlets
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USV identifies Hepatitis C vaccine candidate
To target Indian type of the disease
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Ceat keen on tie-ups for radial tyre plant
Chinese tyres to be marketed under brand names other than Ceat
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ICML plans Rs 800-cr investment to increase production
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PEOPLE
Lupin’s President-Finance
Lupin Ltd has appointed Mr Ramesh Swaminathan as President (Finance and Planning). Mr Swaminathan was with Henkel, Germany where his responsibilities included being Regional Financial Controller for several countries across Central and Eastern ...
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