The Hindu Business Line : Thursday, August 23, 2007

ANNOUNCEMENTS
Ranbaxy launches urology drug
New Delhi, Aug. 22 Ranbaxy Laboratories has launched its registered urology drug — Roliflo OD — in India. The Novel Drug Delivery System (NDDS) product is a combination of two drugs, Tamsulosin and Tolterodine, and is used ... More

Orbit sells space to JSW Steel
Orbit Corporation Limited, a real estate developer, has said it would sell commercial space at Kalina in suburban Mumbai for Rs 807 crore to JSW Steel Limited, JSW Power Trading Company Limited and JSW Investments Private Limited. Orbit cancelled ... More

Sterlite Optical Hardwar plant goes on stream
Pune, Aug 22 Sterlite Optical Technologies has commenced manufacture at its new power transmission and distribution conductor facility at Hardwar.The company, a global provider of power transmission conductors, optical fibre and ... More

PREFERENTIAL ALLOTMENTS
Himatsingka Seide plans to raise Rs 75 crore
Bangalore, Aug. 22 Himatsingka Seide Ltd expects to raise about Rs 75 crore through the preferential issue of warrants to the promoters/promoter group. The proceeds from the issue will form part of the corpus that will fund future ... More

OPEN OFFERS
Mallya confident about Deccan open offer
Mumbai, Aug 22 Dr Vijay Mallya, Chairman, UB Group, said the company has enough funds for making an open offer for 20 per cent of equity share capital of Deccan Aviation. The Group has already acquired 26 per cent stake in Deccan Aviation. ... More

OVERSEAS BORROWINGS
GDR holders merit voting rights
There is no reason why parity of treatment cannot be given to the non-resident investor subscribing to Indian equity through GDR or ADR More

NEW BUSINESS
DLF’s Durgapur township project
The country’s largest real estate company DLF has clinched a deal to develop an integrated township on 95 acres at Durgapur in the heart of the city. The public-private participation project envisaged by the Asansol Durgapur Development ... More

CREDIT RATING
Syndicate Bank, Fitch in pact
Syndicate Bank has entered into a Memorandum of Understanding (MoU) with credit rating agency Fitch. A bank release said that the MoU would facilitate access for small and medium enterprises to reliable rating services to enhance credit ... More

RESTRUCTURING
United Spirits seeks more time for AGM
Bangalore, Aug. 22 United Spirits has informed the Bombay Stock Exchange that it has taken permission from the Registrar of Companies, Karnataka, for extension of time up to November 30, 2007 for holding the annual general meeting of the ... More

MERGERS & ACQUISITIONS
Arch PharmaLabs acquires Watsol Organics
Hyderabad, Aug. 22 The Rs 370-crore Mumbai-based Arch PharmaLabs Ltd has acquired Watsol Organics Ltd, in an all-cash deal worth Rs 30 crore. The acquisition gives Arch PharmaLabs access to raw materials and pharmaceutical and ... More

NEW PROJECTS
Tatas to pay Rs 1,000 cr for Singur land lease
Kolkata, Aug. 22 Tata Motors today informed the Calcutta High Court that it would pay West Bengal Industrial Development Corporation (WBIDC) an amount in the region of Rs 1,000 crore in a phased manner for the Singur land lease of 90 years for ... More

6 Nokia vendors to begin operations by mid-2008
Six more vendors supplying components to mobile handset manufacturer Nokia will commence operations at the Nokia Telecom SEZ park, Sriperumbudur, by mid-2008, according to sources in the company.At present Perlos Corporation (supplier ... More

GAIL to infuse Rs 475 cr more in Dabhol project
GAIL (India) Ltd will infuse an additional Rs 475 crore in Ratnagiri Gas and Power Pvt Ltd (RGPPL), the erstwhile Dabhol project, to help complete the project. RGPPL needs Rs 1,200 crore to complete the project. GAIL board, which met on ... More

OVERSEAS INVESTMENTS
On how to set up business in Russia
Many foreign investors find Russia to be a rather peculiar country to do business in, mainly on account of the national specifics — right from issues of administrative regulations to business psychology and ethics. More

REGULATORY BODIES & RULINGS
US nod for Dabur’s cancer injection
Dabur Pharma has received the US Food and Drug Administration’s approval for the Abbreviated New Drug Application (ANDA) for the chemotherapy injection, Epirubicin. The injection, a generic version of Pfizer’s Ellence, is used in the ... More

EVENTS
Getting closer
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RIGHTS ISSUE
Thomas Cook sees synergy benefits
Mumbai, Aug 21 Thomas Cook (India) reported a net profit of Rs 10 crore for the second quarter ended June 30, 2007, as against Rs 2.78 crore. According to the company, the figures for the current quarter are not strictly comparable with ... More

Dagger Forst comes out with public, rights issues
Mumbai, Aug 22 Dagger Forst Tools Ltd of the Yash Birla Group has come out with a composite (rights and public) issue of 73,31,104 equity shares of Rs 10 each, aggregating Rs 29 crore.The rights issue of 33,24,954 equity shares of Rs 10 ... More

SICK UNITS
ARCIL consolidating SPIC loans
Chennai, Aug. 22 Having bought close to 25 per cent of the bad loans of SPIC from various banks, the Asset Reconstruction Company of India (ARCIL) is wanting to buy more.Nine banks are to meet with ARCIL here on Thursday. SPIC owes Rs ... More

OUTLOOK
Akshaya Homes investing Rs 250 cr in Coimbatore
Launching three projects More

Ministry for independent consultant for RIL’s D6 block
The Petroleum Ministry has expressed reservations on the proposal to appoint the Calgary-based D&M to evaluate the field development plan (FDP) of Reliance Industries Ltd (RIL) prolific Krishna Godavari Basin block. The Ministry has ... More

Toyota’s foray into small car could begin with India
More

Royal Orchid plans Rs 450-cr expansion
Kolkata, Aug. 22 Royal Orchid Hotels Ltd (ROHL) plans to double its room capacity over the next two years. The company plans to build six new hotels in Bangalore, Delhi, Noida, Shimla, Mumbai and Hyderabad, which will raise the capacity from ... More

Cairn hopeful of producing oil from Rajasthan in 30 months
A 585-km pipeline is to be jointly laid by Cairn and ONGC More

Intex mulls equity market foray
In talks with 3 pvt players More