CORPORATE
ANNOUNCEMENTS
Hyundai stops production of luxury sedan Elantra
Launch of new hatchback, production at second plant in November
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RESTRUCTURING
NPIL merging healthcare arm
Nicholas Piramal India Ltd (NPIL) is set to merge its wholly owned subsidiary NPIL Healthcare Pvt Ltd with itself. The move is to ensure better “financial efficiency”, a company spokesperson told Business Line. The ...
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MERGERS & ACQUISITIONS
Avesthagen arm acquires Swiss co Siegfried Biologics
Bangalore, Oct. 5 Avesthagen’s joint venture, Avesta Biotherapeutics and Research Pvt. Ltd, has said it has acquired a Swiss contract manufacturing company, Siegfried Biologics GmbH, for an undisclosed sum. The acquisition will ...
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Asia Pacific Breweries eyes acquisitions
Hyderabad brewery to go on stream this year
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Court directive to CIL, DVC on Mining Corp bid
Kolkata, Oct. 5 Mr Justice Sanjib Banerjee of Calcutta High Court on Friday directed Coal India Ltd (CIL) and Damodar Valley Corporation (DVC) to furnish an unconditional bank guarantee of Rs 100 crore for the purposes of their bid for taking ...
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Moran Tea becomes McLeod’s subsidiary
Moran Tea Company (India) Ltd became the subsidiary of McLeod Russel India Ltd, from Friday. This follows the completion of acquisition process of 15,20,000 equity shares, representing 72.38 per cent of the share capital of Moran Tea, from ...
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Infinite India buying minority stake in Shrachi
Kolkata, Oct 5 Infinite India, a real estate investment firm, is acquiring an undisclosed minority stake in Kolkata-based Shrachi Developers Private Ltd and Shrachi Realty Private Ltd for $50 million or Rs 200 crore.“We will ...
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NEW PROJECTS
AVTEC’s new facility to sell components for Tata’s small car
Rs 100-cr facility to come up in Kharagpur
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Emirates Techno Castings to set up India base
Evaluating sites in Andhra Pradesh, TN
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OVERSEAS INVESTMENTS
Panacea Biotec in pact to sell vaccines in Philippines
New Delhi, Oct. 5 Panacea Biotec has signed an agreement with a Philippines chain of clinics, Family Vaccines, for supply of their combination vaccines. The vaccines, under the umbrella of Panacea’s ‘Easy Vaccines’, ...
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ALLIANCES & JOINT VENTURES
Kobelco open to roping in partner for excavator plant
Feasibility study for proposed site
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DIVERSIFICATION
DVC may ask SBI Caps to study viability of power distribution foray
Kolkata, Oct. 5 Damodar Valley Corporation (DVC) plans to appoint SBI Caps to study the commercial viability of the proposed joint venture with private parties for retail power distribution in Dhanbad, Bokaro, Hazaribagh and Giridih in ...
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OUTLOOK
Re rise: Hyundai plans reducing dollar-denominated exports
Centre urged to implement export incentive scheme
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Toto mulls investments in India
Toto, a leading Japanese plumbing products company, is looking at investing in India in three-five years on manufacturing facility, when it hopes to achieve a sales turnover of $30-40 million.“We are looking at a certain turnover ...
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PERFORMANCE
MRF now a Rs 5,000-cr company
Chennai, Oct. 5 MRF Ltd is now a Rs 5,000-crore company. MRF’s turnover for its financial year 2006-07, which closed last month, was in excess of Rs 5,000 crore, compared with Rs 4,260 crore in the previous year, the Company Chairman, Mr ...
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IOC losing Rs 100 cr a day on petro products sale
Cabinet may consider oil bonds next week
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