CORPORATE
BUYBACK
Reliance Energy buys back shares
The Anil Ambani group company Reliance Energy has bought back four lakh of its equity shares on Friday. Since the start of the buy-back the company has bought back a total of 17,80,000 shares totalling to Rs 220.97 crore. Shares of the company ...
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NEW BUSINESS
Indiabulls Power gets LI for Chhattisgarh project
Mumbai, April 5 Indiabulls Real Estate Ltd said Indiabulls Power Generation Ltd has been awarded a letter of intent for the Bhaiyathan Thermal Power Project by the Chhattisgarh State Electricity Board. Chhattisgarh State Electricity ...
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TCS in another contract with Chrysler
Mumbai, April 5 Tata Consultancy Services (TCS) has signed yet another a multi-year contract with Chrysler to provide the auto company information technology related services, it is learnt.This is in addition to the contract TCS ...
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RESTRUCTURING
GMR Infra incorporates oil and gas subsidiary
Bangalore, April 5 GMR Infrastructure Ltd has incorporated a subsidiary company — GMR Oil and Natural Gas Pvt Ltd. The new company has been set up with the objective of exploring future opportunities in the sector. The company, with its ...
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MERGERS & ACQUISITIONS
The right turn by Tata Motors?
Acquisition of JLR
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Forays galore
Dr Reddys Laboratories will acquire a portion of Dowpharma Small Molecules business associated with its United Kingdom sites. Also, it acquired Italy based formulations maker Jet Generici Sri. ...
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Nuke deal
Jubilant Organosys will buy Canada’s Draxis Health Inc. for $255 million to expand into the North American market. The purchase will turn Jubilant into the fifth-largest maker of sterile injected medicines and add a new presence in the ...
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NEW PROJECTS
Suzlon awaits feasibility study to enter bio-fuel business
Mumbai, April 5 Suzlon will decide on entering the bio-fuel business once it completes a feasibility study this year.In March 2007, the company had announced its plans to diversify into the solar and bio-fuel business.Vacant land ...
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OVERSEAS INVESTMENTS
Tata pick-up on Thai roads
The second-largest pick-up truck market in the world — Thailand — now has a new entrant, Tata Motors, through the Xenon, which was launched at the Bangkok Motor Show last week. The one tonne pick-up, styled in England, has ...
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ALLIANCES & JOINT VENTURES
OVL embarks on $450-m tie-up with Venezuelan co
Deora, oil ministry team leave today for signing ceremony
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INTERVIEW
Derivatives: ‘ICAI should advance the implementation of AS-30’
The recent direction of the Institute of Chartered Accountants of India (ICAI), requiring companies to provide for losses arising from measurement of derivatives at market value, has left many questions unanswered. At least, that’s what ...
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RIGHTS ISSUE
Indian Hotels — Rights Offer: Invest
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BONUS ANNOUNCEMENTS
NMDC okays stock split, 2:1 bonus
Hyderabad, April 5 National Mineral Development Corp Ltd has decided to split its equity share and issue bonus shares to its shareholders. The EGM held this week decided that the equity share with a face value of Rs 10 is to be split ...
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OUTLOOK
LPG variant of Hyundai i10 to be launched next year
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IndianOil’s refining foray into Turkey delayed
IndianOil’s proposed refining foray into Turkey is still hanging fire. More than three months after being awarded the provisional licence, IOC-Calik Holding joint venture is yet to make any headway in accommodating all interested parties ...
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ONGC gears up to enhance oil spill response capability
New Delhi, April 5 Oil and Natural Gas Corporation Ltd (ONGC) has taken steps to enhance its in-house capability on oil-spill response. The company has worked out a strategy to strengthen its oil spill response capability and enhance ...
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Aries Agro plans 100 mobile rural retail units
Vehicles equipped with testing kits will visit farms and prescribe soil inputs
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PERFORMANCE
SAIL unit’s record output
The Raw Materials Division (RMD) of Steel Authority of India Ltd (SAIL) has achieved record production in 2007-08. RMD ended the fiscal 2007-08 with iron ore production of 18 million tonnes. This was an increase of 5.70 per cent over iron ore ...
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Does the IIP offer clues to corporate growth?
The stock market appears to be watching macro-economic indicators such as the Index of Industrial Production (IIP), closer than ever before. For instance, on March 12, the Sensex declined by about 600 points intra-day after the IIP numbers for ...
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ACC cement sales in March up 4.9%
ACC Ltd cement sales in March increased 4.91 per cent to 1.92 million tonnes (mt) against 1.83 mt in the same period last year, the company said on Friday. The production rose 5.59 per cent to 1.89 mt (1.83 mt). For the first quarter of the ...
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PEOPLE
Financial Tech advisory board set up
Financial Technologies India Ltd has constituted an independent advisory board under the chairmanship of Mr Narayanan Vaghul, Chairman, ICICI Bank. The Board will comprise Dr S. Narayan (former advisor to the Prime Minister), Mr G. N. Bajpai, ...
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UTV recasts core team
New Delhi, April 5 UTV has made some changes at the top. Mr Siddharth Roy Kapur is now CEO, UTV Motion Pictures and will spearhead the company’s movie business. Ms Alpana Mishra will be COO Production, UTV Motion Pictures, and Mr ...
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