CORPORATE
ANNOUNCEMENTS
Neuland hiking borrowing limit
Neuland Laboratories Ltd is planning to increase the borrowing powers of the board up to a limit of Rs 150 crore. The board of directors of the Hyderabad-based company has decided to seek the approval of members through the process of Postal ...
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PRIVATE PLACEMENT
Mascon promoter in talks to buy ICICI’s 5% stake
Pvt placement option given to GPC behind the move
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NEW BUSINESS
ONGC order for Suzlon
Suzlon Energy Ltd has received an order from ONGC for 51 MW of wind turbine capacity. It would supply 34 units of 1.5 MW turbines and also carry out operations and maintenance for a period of ten years, according to a press release. The value ...
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RESTRUCTURING
Advani Hotels sells flight catering unit
Mumbai, Dec. 24 Advani Hotels & Resorts India Ltd in a notice to Bombay Stock Exchange said that the company’s board of directors has ratified and approved the sale of the flight catering unit for a price of Rs 20.3 crore at its ...
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MERGERS & ACQUISITIONS
Balmer Lawrie sells UK tea warehouse to Duncan MacNeil
Kolkata, Dec. 24 Balmer Lawrie (UK) Ltd — a wholly owned subsidiary of Balmer Lawrie & Co Ltd — sold its tea blending, packaging and warehousing facility at Bedford in London to Duncan MacNeil Group of UK, controlled by the ...
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NEW PROJECTS
Kinetic Engg to raise Rs 100 cr; setting up new gear facility
Pune, Dec 24 Power train components manufacturer Kinetic Engineering is raising Rs 100 crore to fuel current and future business development, including setting up of a new facility to manufacture gear box assemblies and transmission components ...
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OVERSEAS INVESTMENTS
Gujarat NRE acquires Australian mine from Billiton
Ahmedabad, Dec. 24 Gujarat NRE Coke has completed the acquisition of Elouera mine from BHP Billiton, a part of the Illawarra Coal Business located in New South Wales, Australia. The acquisition was made by Gujarat NRE Resources NL ...
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ALLIANCES & JOINT VENTURES
GAS likely to set up manufacturing unit in India
For making leather accessories
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OUTLOOK
Zee sees Net, mobile as additional revenue streams
Plans to enhance presence in merchandising space as well
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Honda Motorcycle to take up study on second facility in 2009
Expects Manesar plant to produce at full capacity by then
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LG eyes 7-8% market share in GSM segment
Launches high-end mobile phone LG Viewty
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Asian Motor Works launches 49-tonne truck
Priced at Rs 27 lakh, to have Cummins engine
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Haldia Petro mulls venturing into high value products
Kolkata, Dec. 24 Haldia Petrochemicals Ltd (HPL) is planning to take the big leap forward but with caution. Anticipating a downtrend in global petrochemical product prices beginning 2009-10 to 2013, the company has put its plan to ...
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Reliance Retail plans to ramp up iStores
Aims at sales turnover of $5 b from Digital stores
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PEOPLE
T. Krishnakumar new COO of Coca-Cola bottling unit
New Delhi, Dec 24 Hindustan Coca-Cola Beverages Ltd on Monday announced the appointment of Mr T. Krishnakumar as its new Chief Operating Officer (COO). Mr Krishnakumar had joined the company in 2004 and is currently based out of Mumbai ...
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A. Bruck is new MD of Siemens
Siemens Ltd on Monday announced the appointment of Dr Armin Bruck as its Managing Director with effect from January 1, 2008. Dr Bruck is currently a wholetime director on the board of Siemens Ltd, responsible for the energy business. He succeeds ...
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