Corporate
Investors, chambers at odds over creeping acquisition
are divided over the issue of raising the creeping acquisition limit from the existing five per cent.
Investor protection fund to be operational soon
THE investor education and protection fund is to made operational shortly, under the Chairmanship of the Secretary of Department of Company Affairs (DCA).
A catwalk with a difference
EXCON 2000 continued to attract visitors with interesting gimmicks from OEMs (Original Equipment Manufacturers). While the Volvo Excavator played basketball, the L&T-Komatsu machines played merry-go-round. The L&T-Komatsu excavator also demonstrated its
360-degree turn facility.
Honeywell in pact with Raj Lubricants
HONEYWELL International and Raj Lubricants (Madras) Ltd have entered into an MoU for the manufacture and marketing of products related to telecommunication and personal care sectors.
$129.5-m syndicated loan for Reliance Petro
MUMBAI: Reliance Petroleum Ltd (RPL) has raised a $129.5-million loan for refinancing an existing project finance facility.
Strike called off at Wimco factory
CHENNAI: Workers at the Wimco match factory here have called off the strike, but the wage hike issue is yet to be settled, according to union sources.
FDA nod for Cheminor drug
HYDERABAD: Cheminor Drugs Ltd, belonging to Dr Reddy's group, has received tentative approval from the United States Federal Drug Administration (USFDA) for Famotidine tablets 10 mg. Famotidine tablets is for relief and prevention of heartburn and acid i
ndigestion.
Arvind Mills debt rejig plan being worked out
THE major lenders to the debt-ridden Arvind Mills Ltd (AML) are understood to have tentatively agreed upon a debt restructuring plan. At stake is Rs 2,600 crore in debt portfolio of the company.
Mutual Funds
Venture funds rue lack of exit route -- Want two-way fungibility of shares, access to listed cos
AN Indian company's potential for getting listed on, say, Nasdaq, might actually keep away venture capital funds and private equity funds from it.
UTI gift to child in jeopardy
THE falling interest rates and turbulence in the equity markets are likely to take a toll on one more assured returns scheme of UTI.
Petrochemicals
IOC final clearance for Haldia hydrocracker project
THE board of Indian Oil Corporation (IOC) has cleared the Rs 1,506-crore hydrocracker project for its refinery at Haldia. IFP, France, would supply the process design and catalyst technology.
Pharmaceuticals
Wockhardt, Bayer tie up to market anti-diabetic drug
WOCKHARDT Ltd has announced a co-marketing arrangement with Bayer AG for the anti-diabetic drug, Acarbose.
Power
BPL Power to demat equity for Ramagundam project
BPL Power has moved for dematerialisation of its equity to conform to some of the covenants laid down by the debt financiers of the 520-MW Ramagundam power project.
Steel
Ministry weighing options on SAIL retirement age
THE Ministry of Steel is unlikely to pressure the Steel Authority of India Ltd (SAIL) to roll back the retirement age for its executives from 60 years to 58 years.
