CORPORATE
ANNOUNCEMENTS
Citra Developers withdraws Rs 676-cr bid for 134 acres
Mumbai July 2 Citra Developers Ltd, a 100 per cent subsidiary of Indiabulls Real Estate, has withdrawn its Rs 676-crore bid for 134 acre PAL-Peugeot land in Dombivli- Kalyan here. Citra Developers had bid for the property in a court conducted ...
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Piramal Healthcare buys global rights on Haemaccel
Brand acquired from Germany’s PlasmaSelect
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BUYBACK
DLF board to consider share buyback next week
Stock recovers from life-time low
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NEW BUSINESS
Solar Semiconductor signs $1.2-b delivery pact with SolarWorld
Hyderabad, July 2 Solar Semiconductor has signed a delivery agreement with SolarWorld AG subsidiary Deutsche Solar AG, which operates one of the largest factories worldwide for the production of multi-crystalline solar silicon ...
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Rs 312-cr order for ABB
ABB, the leading power and automation technology group, has won a Rs 312-crore order for design, supply, installation, testing and commissioning of electrical products and systems for a new terminal T3 at Indira Gandhi International Airport in ...
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OUTSOURCING
Celebrity Fashions looks to Vietnam as sourcing base
In active negotiations; cost efficiency a big draw
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ENVIRONMENT
Bengal tightens norms for sponge iron plants
Kolkata, July 2 The West Bengal Environment Department has made it mandatory for all upcoming sponge iron projects in the State to have waste carbon recycling mechanism, said Mr M.L. Meena, Principal Secretary, Department of Environment, here ...
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HUMAN RESOURCES
PF Act likely to cover firms with 10 employees
New Delhi, July 2 More than five million people employed in establishments that have 10 or more workers but less than 20 may soon come under the purview of the Provident Fund Act if the Central Board of Trustees (CBT) of the Employees ...
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Cos setting up institutes to train blue-collar workers
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MERGERS & ACQUISITIONS
Holcim ups stake in ACC
Mumbai, July 2 Swiss cement major Holcim, though its investment subsidiary Holderind Investment and Ambuja Cement, has acquired 4.62 per cent stake in ACC by way of creeping acquisition. Post acquisition, Holcim’s stake in ACC has gone ...
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IFC stake in Modern Dairies
The World Bank Group’s private sector funding arm International Finance Corporation (IFC) will be acquiring 46.50 lakh shares of Haryana-based Modern Dairies for Rs 27.90 crore. The dairy firm has entered into a ‘Subscription ...
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GVK ups stake in Gautami Power
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NEW PROJECTS
AGI Glasspac likely to start operations in new plant by Feb
Hyderabad, July 2 AGI Glasspac, the glass division of Hindustan Sanitaryware and Industries Ltd (HSIL), plans to commission the first furnace in its new plant located at Bhongir, in Nalgonda District, by February 2009.“Once ...
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Reliance Power to speed up Sasan project commissioning
Mumbai, July 2 Reliance Power Ltd has claimed that it would expedite the commissioning of the six units of its Sasan ultra mega power project by 16 to 36 months. In a letter to the Union Power Minister dated June 25, Mr J.P. ...
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Nagarjuna Oil’s Cuddalore refinery project achieves financial closure
Refinery likely to be commissioned by mid-2011
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OVERSEAS INVESTMENTS
Glenmark acquires seven brands in Poland
Forges deal with Actavis; eyeing Central & Eastern Europe
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IMPACT
Glenmark in Poland: Branded generic boost
Gives front-ended presence, platform for future launches
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ALLIANCES & JOINT VENTURES
Future Brands to take up consultancy projects abroad
Looks to enter into alliances for new brands in skincare & cosmetics
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TVS, Shriram group join hands to create PE fund
Looking to invest in mid-cap companies in smaller cities
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NTPC, PFC sign pact
The National Thermal Power Corporation (NTPC) and Power Finance Corporation Ltd (PFC) have entered into a memorandum of agreement for financing NTPC’s ongoing capacity addition programme across the country. PFC has sanctioned a term loan of ...
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OUTLOOK
Carlsberg looks to strengthen presence in Indian market
To start production in Aurangabad, Kolkata facilities soon
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RINL focus on value-added steels
Rashtriya Ispat Nigam Ltd (RINL) is continuing its thrust on value-added steels during the current financial year, as in 2007-08, according to a press release. During the first quarter, the steel plant produced 5.03 lakh tonnes of value-added ...
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PSL lines up $60-m capex; raising Sharjah unit capacity
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PEOPLE
New appointments at Hero Electric
Hero Electric, a wholly owned subsidiary of the Hero Group, announced a slew of key appointments. The company appointed Mr Sohinder Gill as its Chief Executive Officer. Mr Mahesh V. Patil has been assigned the post of General Manager, Product ...
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