The Hindu Business Line : Tuesday, August 05, 2008

CORPORATE

OPEN OFFERS: Daiichi Sankyo gets SEBI nod for Ranbaxy open offer
New Delhi, Aug 4 The Securities and Exchange Board of India has given its approval to the open offer from Daiichi Sankyo to acquire an additional 20 per cent stake in Ranbaxy Laboratories Ltd. ...

OPEN OFFERS: Daiichi Sankyo deal among 24 FDI proposals cleared
New Delhi, Aug 4 Japanese drug maker Daiichi Sankyo’s plan to acquire shareholding in Ranbaxy through equity and warrants, was among the 24 FDI proposals cleared by the Government on ...

OUTLOOK: India cannot be immune to recession: Tata
Mumbai, Aug 4 India cannot be immune to recession which has hit the US and Europe, said Mr Ratan Tata, Chairman, Tata Chemicals ...

OUTLOOK: Hyundai’s next plant may be just a hop away
May look at AP for expansion as TN plant nears capacity. Chennai, Aug. 4 Going by the rate at which its sales are growing – 40 per cent in the first four months of the current financial year – it is reasonable to assume that ...

OUTLOOK: Ceat re-negotiates export order prices
Rising input costs cited as the reason; to boost Q2 earnings. Mumbai, Aug 4 Tyre manufacturer Ceat, part of the Rs 13,500-crore RPG Group, has been able to re-negotiate prices for a bulk of its existing export orders for the next 4-5 months on ...

INSIGHT: AGMs relevant?
Come June-September, companies, especially their accounts and secretarial departments, are on tenterhooks, to ensure that the Annual General Meetings (AGMs) are held within the prescribed time. Generally, the business to be transacted, is ...

MERGERS & ACQUISITIONS: Punjab Chem up on acquisition hopes
Punjab Chemicals and Crop Protection has resumed upward journey after a break last week. According to market sources, it has zeroed in on two acquisition targets – one is a domestic agrochem formulation unit and another is a US-registered ...

VENTURE CAPITAL: AMP to invest in Gayatri Infra
AMP Capital Finance Mauritius Ltd, part of Australia-based AMP Group, will invest Rs 200 crore equity in Gayatri Infra Ventures Ltd (GVIL), floated by Gayatri Projects Ltd (GPL). AMP will release Rs 100 crore as the first tranche to get 29 per ...

RESEARCH & DEVELOPMENT: Suven presents Alzheimer’s drug data
Suven Life Sciences Ltd presented preclinical data for its lead antagonist drug candidate at the Alzheimer’s Association International Conference on Alzheimer’s disease (ICAD-2008) and Drug Discovery & Development of Innovative ...

PEOPLE: Salil Gupta is Apollo Tyres CFO
Apollo Tyres on Monday announced appointment of Mr Salil Gupta as the Chief Financial Officer. Earlier, Mr Gupta served at Dentsu India at a similar position and has also worked with KPMG as Director, Tax and Regulatory Services. The company also ...

PEOPLE: Hunt for new Petronet chief begins
PLL board to invite new Petroleum Secretary Pandey for the post. New Delhi, Aug. 4 With Mr M.S. Srinivasan demitting office as Secretary, Petroleum on July 31, the hunt for new Chairman of Petronet LNG Ltd (PLL) has begun. The board of PLL is ...

OUTLOOK: Allied Blenders & Distillers plans to tap market
To raise Rs 400 cr, eyes PE route. Bangalore, Aug 4 Liquor baron Mr Kishore Chhabria wants to take his Allied Blenders and Distillers (formerly BDA Ltd) public to raise up to Rs 400 crore. But before that he wants to clean up his balance sheet ...

OUTLOOK: SAIL tests dual pricing system to up realisation
New Delhi, Aug 4 After private sector steel manufacturers increased their contractual prices last month, public sector Steel Authority of India Limited (SAIL) is now adopting a dual pricing policy to enhance its realisation, according to ...

OUTLOOK: HMSI aims to sell 1-m 2-wheelers this fiscal
Chennai, Aug. 4 Honda Motorcycle & Scooter India Private Ltd (HMSI), the 100 per cent subsidiary of Hondo Motor Company of Japan, hopes to sell more than a million two-wheelers during the current fiscal. Last year it sold 9,07,000 units ...

NEW BUSINESS: BHEL bags Rs 200-cr Vietnam contract
New Delhi, Aug. 4 State-owned Bharat Heavy Electricals Ltd (BHEL) on Monday announced it has bagged an order worth Rs 200 crore for a hydro-electric power project in Vietnam. ...

OUTLOOK: Apollo Hospitals to relook at UK opportunity
Hyderabad, Aug 4 Apollo Hospitals group, which had put off its foray into the United Kingdom sometime ago, has decided to have a relook at the option in the next three ...

VENTURE CAPITAL: IFC funds for Rockland Hospitals
The World Bank Group’s private sector lending arm International Finance Corporation (IFC) on Monday said it will invest Rs 55 crore ($14 million) in Delhi-based Rockland Hospitals to support its expansion plans. Rockland Hospitals plans to ...

OUTLOOK: Indian Hume to raise output
Indian Hume Pipe Co Ltd has said that to meet the requirements of orders on hand, the company is in the process of enhancing its pipe production capacity by setting up three plants at two locations in Andhra Pradesh - one at Chillamuthur, ...

PEOPLE: Nagarjuna Const chief steps down
Dr A.V.S. Raju, Founder Chairman and Promoter Director of Nagarjuna Construction Company Ltd (NCC), has stepped down from his post. The Hyderabad-based infrastructure major has informed BSE that Dr. Raju has submitted resignation as Chairman as ...

MERGERS & ACQUISITIONS: Nod for Amtek India merger
Amtek India Ltd’s (AIL) board of directors approved the merger of AIL with Amtek Auto Ltd (AAL). AIL is merged along with Ahmednagar Forgings Ltd, Amtek Ring Gears Ltd, Amtek Crankshafts India Ltd and Amtek Castings India Ltd with AAL , ...