Business Daily from THE HINDU group of publications
Thursday, August 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, August 21, 2008 ePaper | Mobile/PDA Version | Audio |
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MERGERS & ACQUISITIONS: CLB reserves order on Zandu-Emami row Counsel for both parties complete arguments. Mumbai, Aug. 20 The corporate battle for control over ayurvedic-products maker Zandu Pharmaceuticals inched closer to a directive from the Company Law Board (CLB), with all parties involved ... RIGHTS ISSUE: Tata Motors to prune Rs 7,200-cr rights issue Drops convertible pref issue plan. Mumbai, Aug. 20 Tata Motors on Wednesday decided to prune its proposed Rs 7,200-crore Rights Issue in light of adverse conditions in the capital markets. This issue was planned to part-finance the acquisition ... MERGERS & ACQUISITIONS: Great Offshore backs out of Sea Dragon buy ‘No financial or other implication from withdrawal’. Mumbai, Aug. 20 Offshore services provider Great Offshore Ltd has decided to pull out of its proposed deal to acquire UK-based Sea Dragon Offshore for $1.4 ... OUTLOOK: Nuclear Power eyes alternative energy sectors Planning ahead for liberalised market; seeks carbon credits. New Delhi, Aug. 20 The action may well be hotting up in the nuclear space, but with the liberalisation of nuclear power sector on the cards, Nuclear Power Corporation (NPCIL) — ... INTERVIEW: ‘Changing lifestyles leading to more garbage in Chennai’ Scientific recycling of waste stressed to save environment. Chennai, Aug. 20 The Chennai-based Neel Metal Fanalca Environment Management Pvt Ltd, a joint venture between Neel Metal Products Ltd, India and Fanalca, S.A Colombia, has said that ... COURTS/LEGAL ISSUES: ‘Mismanagement charge can stick from acts of subsidiary cos’ CLB orders return of investments in Coimbatore-based firm. Chennai, Aug. 20 The Additional Principal Bench of the Company Law Board here has ordered that Cheran Enterprises Private Ltd (CEPL) and certain other entities controlled by Mr K.C. ... OUTLOOK: Maruti Suzuki has a strategy for the future, says Bhargava New Delhi, Aug. 20 Maruti Suzuki which controls slightly over half of the domestic car market in the country has said that it would design small cars suitable for the Indian conditions as a strategy to beat the stiff competition with the entry ... OUTSOURCING: Dunlop to get tyres from overseas markets for domestic sale Kolkata, Aug. 20 Dunlop India Ltd plans to source high tonnage OTR (off the road) and truck-bus radial tyres from international markets for sale in India. ... NEW PROJECTS: Salarpuria Group investing Rs 3,000 cr in pan-India projects Bangalore, Aug. 20 Real estate developers Salarpuria Group plans to invest about Rs 3,000 crore in 12-14 projects across the country. ... DIVERSIFICATION: Kamdhenu enters paint biz Construction steel maker Kamdhenu Ispat has forayed into paint manufacturing and has set up its first plant with an initial investment of Rs 30 crore at Bhiwadi in Rajasthan, a company release said. The company is entering the home décor ... BUYBACK: HEG up on buyback plans, but fails to hold on to gains Wednesday was the first trading session after HEG Ltd announced its market buyback price limit of Rs 350. The stock made an attempt to move up after opening higher, but could not sustain the gains. ... OUTLOOK: Saint-Gobain to ramp up exports with new facility New Delhi, Aug. 20 French architectural and automotive glass maker Saint-Gobain would boost its export operations substantially from India as its new plant in Rajasthan commences operation. ... NEW PRODUCTS & SERVICES: Mahindra Logan enters Nepal Mahindra Renault, joint venture between Mahindra & Mahindra and Renault, launched the Logan passenger car in Nepal. Nepal is the first international market for the mid-size car. Agni Incorporated Pvt Ltd, the current distributor of Mahindra ... NEW BUSINESS: Doshion Veolia bags Rs 200-cr order from GMR-IGIA Ahmedabad, Aug 20 The Ahmedabad-based Doshion Veolia Water Solutions has bagged a Rs 200-crore order to execute the water and waste water management facility at the Indira Gandhi International Airport (IGIA), New Delhi, the company announced ... NEW PROJECTS: Bengal Govt, Trinamool talks on Singur land remain inconclusive There would be ‘problems’ in returning land: Govt. Kolkata, Aug. 20 Talks between the West Bengal Government and the Trinamool Congress leadership on the Singur land acquisition imbroglio remained inconclusive on Wednesday with ... MERGERS & ACQUISITIONS: Kirloskar Electric acquires German co Bangalore, Aug. 20 Kirloskar Electric Company Ltd (KEC), the flagship company of the Bangalore-based Mr Vijay R. Kirloskar, on Wednesday announced the acquisition of Lloyd Dynamowerke GmbH & Co KG (LDW), ... PEOPLE: Surender Kumar Tuteja takes over as Chairman of NBHC Mumbai, Aug 20 Former Union Food and Public Distribution Secretary, Mr. Surender Kumar Tuteja, has taken over as Chairman of the National Bulk Handling Corporation Ltd (NBHC), an integrated commodity and collateral management company promoted ... HUMAN RESOURCES: Singareni workers to get 16% bonus Hyderabad, Aug. 20 Employees of the State-owned mining company Singareni Collieries have been rewarded with a performance-linked bonus of 16 per cent for ... PERFORMANCE: Escorts looks at higher sales; to hike tractor prices New Delhi, Aug. 20 Farm equipment and tractor producer Escorts said it expects its financial year, ending on September 30, to close with 10-12 per cent increase in sales. ... OUTLOOK: Ansal to invest Rs 3,600 cr in IT SEZs New Delhi, Aug. 20 Real estate-company Ansal API said it will invest Rs 3,600 crore in developing six IT Special Economic Zones and Parks, spread over 270 acres. ... ENVIRONMENT: ‘Companies with green tilt have an edge in the global market’ Chennai, Aug. 20 Companies with a policy on environmental concerns are preferred business partners and suppliers globally, according to Mr Sudipta Das, Partner and National Leader, Environment and Sustainability Services, Ernst & Young Pvt ... VENTURE CAPITAL: Seventymm raises Rs 50 cr for expansion New Delhi, Aug. 20 Movie rental company Seventymm has raised Rs 50 crore in funding with plans to expand to 40 cities in two years. This new round of funds from venture capital NEA-Indo US Ventures, takes the VC-funded company’s total ... ALLIANCES & JOINT VENTURES: GMR teams up with Malaysian Airlines for repair facility Hyderabad, Aug. 20 With Lufthansa deciding to put off the plan to set up an MRO facility in India, the GMR Hyderabad International Airport has teamed up with Malaysian Airlines to set up an MRO (maintenance, repair and overhaul) facility at ...
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