The Hindu Business Line : Wednesday, September 26, 2007

Essar raising $3.6 b in term loans
Mumbai, Sept. 25 The Essar group has mandated a clutch of international banks to arrange $3.59 billion (over Rs 14,000 crore) in term loan against put options that exist in the Vodafone-Essar agreement.The group’s wholly owned ... More

DIVIDEND ANNOUNCEMENT
AP Paper Mills to pay Re 1 dividend
The annual general meeting of Andhra Pradesh Paper Mills Ltd has approved declaration of a dividend of Re 1 a share on 2.57 crore shares of Rs 10 each for the year ended 2006-07. The company informed the Bombay Stock Exchange that the AGM also ... More

NEW BUSINESS
Gayatri Projects bags Rs 154-cr order
Gayatri Projects Ltd has secured a road construction order valued at Rs 154 crore in Jhansi, Uttar Pradesh. The work would involve rehabilitation and upgradation of a 27-km stretch on National Highway No 25 as part of the East-West Corridor ... More

COURTS/LEGAL ISSUES
US ruling lands Indian drug makers in a soup
Pfizer will be eligible for full damages if it wins More

HUMAN RESOURCES
Pre-placement offers begin at IIMB
Bangalore, Sept. 25 Talent hunt has already begun at IIMB. The Class of 2008 comprising 254 students in the post-graduate programme in management at the institute have started receiving pre-placement offers (PPOs) from Day Zero companies. PPOs ... More

CORPORATE BONDS
NHAI capital gains bonds issue on tap
New Delhi, Sept. 25 The capital gains bonds issue of the National Highways Authority of India has hit the markets from Monday. The Finance Bill 2007 had authorised the NHAI and Rural Electrification Corporation to issue 54 EC capital ... More

RESTRUCTURING
Balmer Lawrie may complete UK tea unit sale next month
Sale proceeds to be invested for expanding business More

MERGERS & ACQUISITIONS
‘Vodafone liable to deduct tax at source on Hutch deal’
New Delhi, Sept 25 The Income-Tax Department is hopeful of emerging victorious in the legal wrangle over its attempt to collect capital gains tax on the $11.1-billion Vodafone-Hutchison deal. Although Vodafone has taken the position ... More

Gremach’s stake in Mozambique mines
Gremach Infrastructure Equipments & Projects Ltd has said that it has acquired 75 per cent stake in 11 coal mine licences in Mozambique that have a total of 13,520 hectares in Moatize region for an undisclosed amount. The company plans to ... More

NEW PROJECTS
SRF setting up Rs 250-cr polyester yarn unit in TN
Enters tech tie-up with Japanese firm More

Sanden Vikas to manufacture compressed variable for cars
New Delhi, Sept. 25 Automotive air-conditioner manufacturer Sanden Vikas Pvt Ltd, the joint venture company of Vikas Group and Japanese-based Sanden Corporation, said that the company would invest Rs 100 crore within its existing facilities ... More

Maharaja Whiteline looks beyond home appliances
Opens new unit at Baddi, HP More

OVERSEAS INVESTMENTS
Strategic move for Gremach
Acquires 75% controlling stake in 11 coalmines More

REGULATORY BODIES & RULINGS
Zydus Cadila gets USFDA nod
Zydus Cadila has received an approval from the USFDA for hydroxychloroquine sulfate tablets in the strength of 200 mg. The drug falls in the DMARD (Disease Modifying Anti-Rheumatic Drug) segment and is used in the treatment of rheumatoid ... More

ALLIANCES & JOINT VENTURES
Astrium, Antrix to jointly tap small satellite sector
Target Europe, US markets; Eutelsat launch likely by next year More

Arianespace to strengthen ISRO deal
Arianespace, the world leader in the satellite launch business is optimistic of offering more flexibility to the growing market with Indian launch vehicles. Dr Jean-Yves Le Gall, Chairman and Chief Executive Officer (CEO) of the ... More

GE Healthcare focusing on products for domestic market
New Delhi, Sept. 25 GE Healthcare, the healthcare and life sciences solutions company, expects sales of medical products from India to reach $800 million in the next three years. “We currently have sales of $475 million, and this ... More

VENTURE CAPITAL
Witco looking at private equity, strategic tie-ups for expansion
More

Orange County plans pvt equity route for funding
Rs 100-cr Hampi, Bangalore resorts to be launched in 2 years More

OUTLOOK
ONGC to resume drilling in Bengal offshore soon
Kolkata. Sept. 25 ONGC will resume drilling in Bengal offshore (WB-OSN-2000/1) shortly. Ending almost a one-and-a-half year-long hiatus, the Union Petroleum and Natural Gas Ministry has finally granted six months extension to complete ... More