The Hindu Business Line : Friday, August 08, 2008

CORPORATE

MERGERS & ACQUISITIONS: Zandu-Emami row: HC asks CLB to pass orders in 15 days
Zandu AGM scheduled for tomorrow adjourned. Mumbai/Kolkata, Aug. 7 The corporate tussle between ayurveda companies Zandu Pharmaceutical and Emami Ltd seems to have shifted to the Company Law Board. ...

NEW PROJECTS: ETA Star plans residential complex in Chennai
To target NRIs, IT professionals, upper middle class segment. Chennai, Aug. 7 ETA Star Property Developers Ltd has announced plans to set up a residential complex, ‘ETA Star Rosedale,’ on the Old Mahabalipuram Road near ...

MERGERS & ACQUISITIONS: Dr Reddy’s stock rises on hike in promoters’ stake
Their stake goes up to 23.75% after recent purchase. With the promoters of Dr Reddy’s Laboratories hiking their stake through open market purchase, the stock of the pharma major ended positively by gaining 4.48 per cent on the Bombay ...

OVERSEAS BORROWINGS: IVRCL arm to borrow more for Chennai desalination project
Cost expected to go up to Rs 550 cr from Rs 470 cr. Chennai, Aug. 7 The Chennai Water Desalination Ltd, a subsidiary of IVRCL Infrastructure & Projects Ltd, has gone in for additional borrowings to meet the escalation in project ...

FINANCIAL PERFORMANCE: Q1 profits of auto parts makers take a beating
Impacted by forex loss, raw material prices. New Delhi/Chennai, Aug 7 Auto component industry witnessed a decline in net profits for the April-June quarter of the current fiscal even as their net sales grew at a healthy pace. An analysis of ...

NEW PROJECTS: East Coast Energy to establish 4,000 MW plant in AP
Phase I may involve 2,640 MW at a cost of Rs 10,000 cr. Hyderabad, Aug 7 East Coast Energy has sewn up plans to establish a 4,000-MW capacity mega power plant along with a dedicated jetty to evacuate coal near Bhavanapadu in Srikakulam ...

SOCIETY & DEVELOPMENT: Apollo Hospitals to organise a fundraiser event
Hyderabad, Aug. 7 To raise funds for its Save A Child Heart Foundation (SACH), Apollo Hospitals is organising a grand event on August 17 here. Bollywood actresses Bipasha Basu and Lara Datta are expected to perform. ...

SOCIETY & DEVELOPMENT: Monsanto helps reduce child labour in Gujarat
Ahmedabad, Aug 7 Monsanto, a leading global provider of technology-based solutions and agricultural products that improve productivity, has encouraged Gujarat farmers to reduce child labour from 20 per cent to less than 1 per cent since 2004. ...

NEW PROJECTS: Residential property from Tatas
Tata Housing Development Company Ltd, a fully owned subsidiary of Tata Sons, announced its foray in to the north Indian market with the launch of a residential property in Gurgaon. The high-end 11.73 property — Raisina Residency — is ...

OUTLOOK: BMW to launch X6 in India next year
New Delhi, Aug 7 BMW, the world’s leading premium car maker, plans to launch X6, its sports cars in the domestic market next year. The company’s India President, Mr Peter Kronschnabl, said while inaugurating its studio, “We ...

SICK UNITS: HC rules no stamp duty payable on transfer of property of sick co under BIFR scheme
Chennai, Aug. 7 Transfer of property owned by a sick company [which had been sanctioned a rehabilitation scheme by the Board for Industrial & Financial Reconstruction (BIFR], in favour of a lendor company approved by BIFR scheme, would not ...

NEW PROJECTS: Mamata open to talks on Tatas’ car plant issue
Work at Singur slows down. Kolkata, Aug. 7 The Trinamool Congress Chief, Ms. Mamata Banerjee, on Thursday said she had no objection in talking to anybody on issues related to the Tata Motor’s small car project in ...

NEW PROJECTS: Federal-Mogul to set up plant in Chennai
Chennai, Aug 7 Federal-Mogul Corporation on Thursday announced it is planning to build a new facility in Chennai for the manufacture of friction components for original equipment and aftermarket segments. The operation is scheduled to begin ...

COURTS/LEGAL ISSUES: BEST files suit to get REL licence revoked
Mumbai, Aug. 7 The BEST (Brihanmumbai Electric Supply and Transport) undertaking, which is the sole distributor of electricity to the island city, has sent a petition to the Maharashtra Electricity Regulatory Commission asking it to revoke ...

NEW PROJECTS: Adani signs power purchase pact with Haryana govt
Adani Power Ltd (APL) on Thursday signed a power purchase agreement with the Haryana Government for supplying of 1,424 MW of power for 25 years, from its plant to be generated at Mundra in Gujarat, for 25 years. The bid was awarded to APL based ...

NEW BUSINESS: HCC joint venture wins Rs 1,398-cr pipeline order
Mumbai Aug. 7 Hindustan Construction Company-led joint venture has bagged a Rs 1,398.50-crore order for construction of three rows of 38.75 km pipelines from an existing intake on the Godavari river at Gangaram village to Bheemghanpur tank in ...

OUTLOOK: Indian Aura bullish on medical tourism
Ahmedabad, Aug 7 Indian Aura, a new venture of Airline Travel & Tours Centre, plans to make Gujarat the medical tourism destination of Asia. Speaking to press persons, Mr I.J. Patel, Chairman, said, “Of the total number of ...

MERGERS & ACQUISITIONS: Promoters hike stake in MAN Industries
Mumbai, Aug. 7 Promoters of MAN Industries ( India ) Ltd have raised their stake in the company by 5 per cent over the last 12 month period to 45 per cent through creeping acquisition ...