The Hindu Business Line : Friday, July 11, 2008

CORPORATE

OPEN OFFERS: Reject Sun’s offer, Taro tells shareholders
Says offer financially inadequate and a ‘sham’. Mumbai, July 10 Less than a fortnight after Sun Pharma pushed ahead with its open offer to acquire outstanding ordinary shares of Taro Pharmaceutical Industries Ltd, the Israeli ...

BUYBACK: DLF fixes buyback price at Rs 600/share maximum
To utilise up to Rs 1,100 cr to buy 2.2 crore shares. New Delhi, July 10 Real estate company DLF Ltd on Thursday said it would buy back up to 2.2 crore shares at a maximum price of Rs 600 per equity share. ...

ACCOUNTING STANDARDS: KPMG sees big market in financial reporting standards
Chennai, July 10 From 2011, all companies in India will have to draw up their accounts in conformity with the International Financial Reporting Standards (IFRS). Migration from Indian GAAP to IFRS is emerging as big business opportunity for ...

OUTLOOK: Biocon’s new research co to inherit key drugs
Bangalore, July 10 Biocon Ltd’s proposal to set up a fully-owned R&D company will mean that the new entity will inherit a major pipeline of potential therapies for cancer, diabetes among a dozen ongoing discovery programmes. ...

OUTLOOK: Audi mulls local assembling of Q7
Mumbai, July 10 Having set a sales target of 1,000 units this year, Audi India is planning to locally assemble its Rs 65-lakh SUV Audi Q7. “We could perhaps consider locally assembling Q7 as it is doing well in the market,” said ...

OUTLOOK: D&B optimism index down 11% in Q3
Mumbai, July 10 The Dun & Bradstreet Composite Business Optimism Index for the third quarter of 2008 recorded a decrease of 11.2 per cent to 135.6 from 153.7 in the previous quarter. On a year-on-year basis, the Business Optimism Index ...

NEW PROJECTS: Daikin to start production in 2009
The new facility of Daikin Airconditioning India Pvt Ltd (DAIPL), a wholly owned subsidiary of Daikin Industries, in Neemrana, Rajasthan is expected to start production by 2009. Speaking at the ground breaking ceremony, Mr Toshiki Hayashi, ...

PEOPLE: New JMD for Parsvnath SEZ

COURTS/LEGAL ISSUES: HC stays arrest of Shishir Bajaj
Chennai, July 10 The Allahabad High Court has stayed the arrest of the Chairman and Managing Director of Bajaj Hindusthan, Mr Shishir Bajaj, and other officials of the company, including his son and Joint Managing Director, Mr Kushagra Bajaj, ...

OUTLOOK: NMDC to push for better ore price
Talks with Japanese steel mills, Posco this month. Hyderabad, July 10 National Mineral Development Corporation (NMDC) will push for a better price for its iron ore with Japanese steel mills and South Korean steelmaker Posco during ...

MERGERS & ACQUISITIONS: Ruia Group acquires Metzeler Automotive
Kolkata, July10 The city-based Mr P. K. Ruia-promoted Ruia Group has acquired 100 per cent control in the Metzeler Automotive Profile Systems UK Ltd — manufacturer of synthetic rubber-based sealing components for global automobile brands ...

OUTLOOK: Bajaj-Renault small car design team will be 80% Indian
Pune, July 10 The design team that will develop the new $2,500 car for the Bajaj Auto Renault-Nissan joint venture company will comprise nearly 80 per cent Indian engineers to achieve cost competency, while the remaining will be drawn from the ...

DIVERSIFICATION: Panacea’s Rs 80-cr hospital to be ready by 2010
Mumbai, July 10 Lessons from its first greenfield hospital, coming up in the National Capital Region (NCR), will be significant in the future course that Panacea Biotech takes in the healthcare sector. ...

ALLIANCES & JOINT VENTURES: Bureau of Energy Efficiency, PTC sign pact
New Delhi, July 10 The Bureau of Energy Efficiency (BEE) and PTC India Ltd (formerly Power Trading Corporation of India Ltd) on Wednesday signed a memorandum of understanding which intends to leverage the financial and technical strength of ...

VENTURE CAPITAL: JP Morgan invests Rs 250 cr in BPTP
JP Morgan Chase has invested Rs 250 crore in BPTP Ltd, a Delhi-based real estate company which came into spotlight earlier this year when it clinched 95-acre of prime commercial land at Noida for Rs 5,006 ...

NEW BUSINESS: Samtel HAL bags Rs 250-cr order
New Delhi, July 10 Samtel HAL Display Systems, a joint venture between Hindustan Aeronautics Ltd and Samtel Display Systems, has announced it has won a development order of over Rs 250 crore over the next few ...

OUTLOOK: OSIM-India to invest Rs 50 cr in expansion
Hyderabad, July 10 OSIM-India, a distributor, supplier and dealer of lifestyle products and a division of Delhi-based Paramount Surgimed Ltd, plans to invest Rs 50 crore over the next three years on expansion of its ...

MERGERS & ACQUISITIONS: Sterlite reaches agreement with Asarco unions
Mumbai, July 10 Sterlite Industries (India) said that it has reached an agreement with the unions representing the workers of the US-based integrated copper refining company ...

OVERSEAS INVESTMENTS: VVF acquires Henkel plant in Poland
Chennai, July 10 VVF Ltd, manufacturer of personal care products and oleochemicals, has acquired Henkel’s soap manufacturing plant in Poland. ...

ALLIANCES & JOINT VENTURES: Hykon ties up with Chinese co

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